ChaTIty reglstiatlon number 1112545 Company Teglstratlon number 05309600 (England and Wales) REGENTS PARK TIME BANK ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 LEGAL AND ADMINISTRATIVE INFORMATION Trusteos Falema Mlah Dlna Shreslha - Chair Fekir Mulaiu Andela - Treasurer (Appointed on 8 June 2024) Hawo Abidi Salah Foyeza Akhler Loulse Balogun Tony Bloor Rathn8 Begum Habiba Elmi (Reslgned on 7th June 2024) Charlty number 1112545 Company numbvr 05309600 Senlorslaff Tony Bloor- Company Secretary and Volunteer Manager R8glst8r•d offl¢e 0 ThSrd Ag8 ProJ8Gt Cumbgrtand Market Regents Paik Esl8le London NW13RH Independont examlner David Terry FCA Ramon Lea Ltd Chartered Accounlanls 93 Tabemacle Street London EC2A 48A Bankers Sanlander Benk l* PO Box 10102 21 Prescfjl Slre8l Lo￿1 EI 8TN Wobslte ebank.or CONTENTS Page Trust88s' report 3-12 Independent examinerts report 13 stalemont offinano818ctNiti88 14 Balance she8l 15-16 Not88 to Ihe financlal Stalernents 17-24 REGENTS PARK TIME BANK TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) FOR THE YEAR ENDED 31ST MARCH 2024 The IrLtstees who are 81so dire¢tors of the chaw for the purposes of the Companles Act 2006. present thelr report wlth the f]nandal statements of the charity for tt)8 year ended 31 Mar¢h 2024. The trusl@es have adopted the provlslons of Charitles Act 2011. the Companles Act 2006, the Memorandum and Articles of Assoclation. and A¢counting and Reporting by CharSlles'. Slalemenl of Recommended Practice aP￿1¢8b1￿ lo charltiès pr8parlng Ihglr flnanclal slalements in accordance wlth the Flnanctal Reporting Standard appli¢abla in tha UK and Republic of Ireland {FRS 102) (effecllve 1 January 2019). OUR PURPOSE AND ACTIVITIES Tho company's principal aclivity Ss to develop th8 capaclly and skills of the membgrs of the soclally and economically deprlved community of Wesl Euslon and ils surrounds in such a way that thay are beller able to idenllfy, and help meet, thelr need5 and to partldpale r￿re fully In soclety. Our alms are lo operate as a Tlme Bank as a means: To relieve poverty, advance education. reduce unemploymonl and promote vocatlonal trainlng for the benefit ol the soclally and economlcally deprived communlly of Wast Euston and surroundlng area. To d8V81op the capacity and skims of th8 so¢lally and economlcally deprived mémbèrs of th8 communlty so that thèy are belt8r abl& to Id8nlify. and help meet, Ihèlr needs and partlcipale more fully in soclety,, To break the cycle of deprlvatlon through wldenlng Ihe rangè of Ilfé chances avallable partlcularly to those In greatest need. To encourage volunte8r8 IQ Carry out acllvlties In the communlty and for the benefll of the wlder community.. and To promote good citlzenshlp. Our beneficiaries 8re our members and prospécllvo members who conslsl of 101 famlly members who havts 197 children undef 12 years of age. In addition. we have also directly supported 31 adull and elderly residents In conluncllon wlth the Thlrd Ag& Project. Th8 famllles are malnty of BAMER ethnlo origin oJming from an exlroordlnary range of backgrounds with ¢hlldren who live on a large high-rise co￿ncil eslale in NW1 thal conslilutes our prinapal area of benefit. The famllles we work wllh com8 from hlghly diverse backgrounds a slgnificant number have refugee slalus or or5gin (Somall, Erilrea, Syria, Afghanlslan, Kurdish. elc.) and hav8 multiple disadvantages in terms of overcrowding, poor health, low Income and sp@cial n@8ds. Introductlon Over the year w6 registered 101 local families w(h 197 children under 12 years of age, There were 64 babies and toddlers under 5 years1330/0I wilh a dedicated room allocaled to them and separate trips arranged e.g. Tree Tops et Talacre and children's play orea5 at Coram's Flelds. Just over 50% 01 families regislered for the Iirsl Ilme with Us (52 families) and many said th8y w8r& now to the area (and UK) and didn't know anybody. Some spoke lilue or no English and 22 famllles said they were refugees. Families came from an extraordinary wide range of ethnic, cultural and religious backgrounds. The leeling of economlc and soclal isolation was high with signlficant numbers s8ying they fell very Isolaled and afraid of going out and this was higher among those with very young children. REGENTS PARK TIME BANK TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) FOR THE YEAR ENDED 31ST MARCH 2024 The Regents Park Ward Es regardad as Ihe most diverse within the ￿rough and th& Councll has lold us it has one of the highest churn figur8s In London (population turnover) Some of the moro experi8nced Tiffle Bank members were willing lo take on Ihp task of inducling new familles inlo the way reclprocal volunleerln9 and mutual aid worked and encouragin9 them lo get lo know others and this Included a lol of chlldren- lo-childr8n inlioduclions. There were many obslac]8s facod Including languagè. challenging child behaviour (we had 5 autistic ¢hildr8n aThJ many others with spe¢ial needs). Interestingly, there was mor8 volunteering and sharing among the membership than In previous years arising out of necessity and need but11 wasn't tsasy to achieve. Ethnlc Group Noof Famlllès RPTB Ethnicity of Registered Families 2023 Bangladeshl While British, Irish. Olhei While Somali. Ethiopian, Eritrean Other Black Mixed race other Asian Black Af1￿￿n Albanlan (Kosovo TOTAL 17 12 10 101 •1 *2 n3 44 m5 ¥6 •7 A% Schoo oli ay Programme Slze of Famlly Numberof under 12 onl famllles I chlld 2 chlld ch 4 child 5 chlld TUIAL RPTB School Holidays Programme 2023 41 13 101 1 #2 ij •) Eastor2023 A varied programme of diffèrent activiti85 chosen by tho children themselves wilh 16 different two-hour sossions and 6 different Idps off Ihe eslale. 53 families with 73 children registered on tho programme wlth 260 hot meals prepared and 130 p3cked lunches given out. Trips included a cholce of Easter Egg hunts lo the Zoo. Camley Sl ll81ural park and Regents Park with a cinema trip to se& the Super Mario Brothers al Tho Vue in lslinglon Artists from the October Gallery ran a highly e￿alIve art day. REGENTS PARK TIME BANK TRUSTEES, REPORT {INCLUDING DIRECTOR'S REPORT) FOR THE YEAR ENDED 31ST MARCH 2024 May HaSf-Term 2023 39 families wilh 51 children took part in a Spfing Family Feslval al London Zoo with a whole day of children frlendly 8venl8. W8 provlded a packed ILtnch and Ic8 creams for the chtfdren! The xoo vory klndly gave us use of an Indoor spac6 lo sit down and e31 our sandwichès with accèss lo making rgfreshm8nls and acc8SS to to518ls and baby changlng facilities. Summer 2023 The major pari of Ihe year's progranm8 wilh 101 families regislering with 197 children (under 12 yoafs) Ihat ran from 25th July through to 31 sl August 2023. There were 63 Iwo-hour or longer sesslons in a wlde range of dlffer&nt themes Indoors and outdoors including, piua making. family dance. junk modelllng. smoothie making, famlly outdoor games, children's shows. Of￿arnI. slimo making and famlly blngo included. There were 19 day trips off tho estate Incliiding (o The Postal Museum. London Zoo, Kew Gardens advf)nture playground. Hampslead H6ath, Rulslip Lido. coaches to Southend & Brighlon and many more plsjs several group Irips lo the cinema. An avèrag8 of 49 famllios and 103 chlldren look part in activllies each week. We cooked 960 hot meals and provlded 761 packed lunches. We are very grateful to many supporting partners Ihal 8nablad us lo pul on and deliver an impresslve Summer Piograrnme. October 2023 Half-Term There was an emphasis on Halloween Event5 and themed lrips al the Tower of London and London Zoo together wllh F8mlly Bln90, Family dance workshops and a pumpkln ple maklng competition. 49 famllles with 74 chlldren look part wlih 10 two-hour se55ions and 2 day Irlps wSlh hot meals plus Happy Meals al MGDonalds on the trips. As the w8alher was so mild we held family 5POrts outdoors In the adjac6nt park vlith rounders, a relay races and a parachute game. Unfortunately. there wer8 no Christmas aclivltles due lo many of our k8y volunt8efS beSng away. February Half-Term 2024 {￿0-hoUr sesslons coverlng Famlty Bollywood dance. family yoga. a Pancake Day and preparallons for 8 Cullur81 Evenl allended by 60 people with 29 chlldren from 18 families laking part In presentations and performances In Iheir home languages. There were 2 trlps to Sae M￿rat11)n at The Vu8 and London Zoo. Addltlonal Famlly Support In conjunction wllh the Trussell Trust W8 provided omergency food vouchers throughout th& year wllh 31 famillos with 8?. young children supported valued at around £1 OK. Thls was in addiilon lo preparlng and giving Out over 1600 cooked mea16 and healthy lunth boxes. W8 submitted applications lo vartous Hardship and W81far8 Funds for 18 families for emergency cash lo help Ihem over Immedlate crisls's especlally eround energy bills and pre.payment m61ors General help and signposting support was provided to arol￿d half of all our 101 regislored members durfng thè ye8r by the Tlme Bank worker an(J almost all the familles (941 wer8 linked up to 8 WhalsApp group that was vary well used lo ask for help and support Irom each other e.g. Information on free activities. spe¢lal offers and availability of support Se￿Ices. We worked closely wilh slaff from the nearby Regents Park Children's Centre rèceived lots of r8f8rrals 8specially when thèy wero closed and they loaned us equlpmant REGENTS PARK TIME BANK TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) FOR THE YEAR ENDED 31ST MARCH 2024 A majority ofth8 children when asked mentioned Ihe following (￿tCOMes... Naw frlendshlps A lol of Ihe children mentionèd how much they had missed the company of othèr chlldren as a result of Covld and its aflermalh. Many new friendships were made during the sessions and on lrips. Improv8d 58nso of wellb&lng Many of the children said Ihey ¥lways fell h8ppy when attending the cenlre and fell much less stressed out than at home where they had lo share space and bedrooms wilh older brothers and slslers (the Regenls Park Estate Is on& of th8 ma8t overcrnwded in the borou9h with famllies often living in one bpd flats rjr eve.n bed sils). Improved skllls and knowlodge Childron slalod Ih6y likod Ihc idea of belng e￿o￿ra9&d to not only learn new skill$ bjt lo share them wilh other chlldren. Casa studies (childr&n) Aliyah shared her skllls by funnlng an Orlgaml Class. Encourage young poopla lo take on leadership roles and ownership of the Sessions (she who suggested the adivity) Buill up 8elf•confKlence as 8 shy child. Maryam leamt new 6kltls In craft-work that sh8 was able to use in teachlng other chlhJr8n. Luvain's Smoothle.Maklng with a twist persuaded chlldren to try somelhlng different and new o.g. Uslng cucumbèrs. beelrool and dlscov8r8d they actually tasied g(￿ and Cfealed Inlefosllng colour8 and lextures. They found It a very sensory experience. Family Bingo wa5 not only popular in terms of winnlng prfzes l)ut also provlded opportunllies fof16arnlng and rem8mberlng n8w numb8rs up lo 99 Cup Cakes and Plzzas Popular and allowed chlldren to be creallve In the use ol Ingredients and shap8s and you could eal the end r85uII. Frustrated wlth the long walt (20 mlnutes> for ihe plzza lo be baked In Ihe oven and thal we had SO plziag lo dol The cupcakes wero highly colourful with the docoralions very ima9inalive. In both Inslance we gave out recipe cards lo encourage Provldlng famlly actlvllles 1$ always challenging due to Ihe wtde age ranges among chlldr8n wthln f8mill85. We alw for the year ended 31 March 2024. This report Is made solely to the charll*s liuslees, as a body. in aCCDrdance with the Charllies Act 2011. My work ha$ been undertaken so that I might slate lo the charilvs Injslees those mallers l am requlfed lo slate to Ihem In an Indèp8ndenl examlner's r8porl and lof no other purpose. To Ihe lullesl 6xlenl permitted by law, I do nol a¢¢ept or assume responslblllly lo anyone other than Ihe charity ond Ihe charity's Irus18es as a body, lor my Indopendenl ExamlnAllon, for Ihls Teport. or for th8 opinions I have formed. Responslbllltles and ba$ls ol r•port A5 the truylèes of the ch8ri1able company land *0 its directors for tho wrposes of Gompgny lawl you afe responslble for Ihe preparallon of the finan¢lal slalemenls in accordance wlth the requir6mènls of th8 Companle$ Act 20061th8 2(106 Act). Havin9 satisfied myself that Ihe financlal slalemenls ol Ihe charllable company are not requlred to be audil8d under Part 16 of the 2006 Act and are 81igiblo f(K Independènt examlnation. I repori in respèct of my &xamlnalSon of Iho charitable company's financlal stalemenls carrled out under seclbon 145 of Ihe Chaiifi6s Act 2011 (Ihe 2011 Acll. In carrylng out my X8mlnalion I have followed all the Bppllcable Directions glven by the Chaflty Commlsslon under section 14515)Ib) of the 2011 Act. Independènt ￿8m1fters statement I have cornpleled my examlnallon. I conllrm Ih81 no mallers have come to my attention In connecllon wlth Ihe examlnatlon glvlng me cause lo belleve that In any material respecl: accounting rècords were not kept In res￿¢1 of the charitable company a$ requlred by sèclion 386 of tho 2006 Act: or the fln8nclal stateménl8 do not accord with thiY3e records: (Y the finanol81 slalemènls do not comply wllh Ihg accounling requirements ol section 396 of the 2006 Act other than any requlremenl thal the accounts give a Iwe and falr vlow which Is r￿t 8 matter consldered as part of an Independent examlnallon; or Ihe financlal slalemenls havè not be&n prepared In ac￿rdanCe with the methods and pdndples of the Slal8ment of Recommended PTacllce for accounllng and reporting by charllies applicable lo oh8rfiles Pfgparfng Ihelr acrounls In accordance with lh& Flnandal ReFKJrting S18ndard applicable In the UK and Ropublic of Ireland (FRS 102). I have no concerns and havo como ac1055 no other maN8rs in connection wilh the examination lo whlch attenlion should b8 drawn in Ihls report in order to enable a pioper under5tandlng of Ihe financial statements lo be reachad. Davld Te ryFCA Ramon Lee Ltd Chartèred AcGounlants 93 Tabernacle Streot London EC2A4BA Datèd: 24 Novembor 2024 13 REGENTS PARK TIME BANK STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2024 Unrestrlctod Rgstrkted lunds funds Tolal 2024 Totsl 2023 Notès Incom9 and én Chorllable adivilies Olhor Income 29,203 29,203 2,085 26,600 1,945 2.085 Total Incomg 2.085 29,203 31.288 28,545 Ex dltu Charitab18 aeiivlU8S 29.203 36,569 36,883 Tolal expfjndlture 29.203 36.569 36,883 Net oxpendlturo for the yearl Not movernent In funds 15.281) (5.281) (8,338) Fund balane8S 81 f Aprll 2023 34,118 34,118 42,456 Fund balAnces at 31 March 2024 28.837 28,837 34.118 The slalemont of financlal activitl8s also complles with the requiremenls for an Income and expendlture 8CCOLinl under the Companies Act 2006. CONTINUING OPERATIONS None of th8 company's acti￿lieS were acquired or discontinued during Ihe abovè financlal period8. TOTAL RECOGNISED GAINS AND LOSSES Th8 company has no recognlsad galns or k)sses other Ihan the above movemènt In funds for Ihe above financlal perk)ds. The notes on pages 17 to 24 form part ol these financial statemen15. 14 REGENTS PARK TIME BANK BALANCE SHEET AS AT 31ST MARCH 2024 2024 2023 Noles Flxed asset5 Tangible assels Current assets Doblovs Cash at bank and In hand 10 6,295 24,535 8.193 28,031 30.830 36,224 Cr•dltor$: amounts falllng duè wllhln one year 11 (1,9941 P.107} Net CUTf8nt a$5els 28.836 34,117 Total assots198s Gurrent Ilablllll•s 28.837 34,118 Income fundy UnrestriGted fvnds 28,837 34,118 28.837 34,118 The not8s on pages 17 10 24 form parl of these financlal state￿￿18. The ¢omp8ny 5s enlllled lo the exernptlon from Ihe audit requlremont conlalned In secuon 477 of the Comp8nies Act 2006. for the yearended 31 March 2024. The directors acknowledge Ihelr re3ponsibililie3 for complylng ￿th the requlremenls of Ihg Companlos Act 2006 with respect to accounting record5 end the preparatlon of finar)clal stalemenis. These financlal 51atemenls have bèen prepared In 8Gcordan¢e the pmvlslons appllcable lo compani8s subj9Ct Io Ihe small compani8s regime. The dSreclors acknowledge Ihelr responslbilili&s for. ensurlng that the ch3rilable company keeps 8ccouniing records Ihal ￿)mPsY wlth Secllons 386 and 387 of the Companies Act 2006 and Pfeparing financial slalements whlch gr¥e 8 true and fair viwi ol the sl810 of affalrs of th9 charllable company as al the end of eath financial year and of ils surplus or deficit for each financlal yeaf In a￿O¥danCe wllh the requirements of Sections 394 and 395 and which olherwise comply wlh the requirements of the Companies Act 2006 rel8llng lo financl81 statements, so far as appli¢able lo the ¢h8rilable company. 15 REGENTS PARK TIME BANK BALANCE SHEET (CONTINUED) AS AT 31ST MARCH 2024 The members have not required th& Gompany to obtaln an au(11 of its flnanclal sl8lemenls for Ihe Yg8r In question in accordance wllh sè¢tion 476. Tho financlal stalemenls were aPPToved by the Truslees on 24 Novembér 2024 and were slgned on Ils behalf by- Dlna Shre5tha Chalr Feklr Mulatu Andeta Treasurer Company reg15tratlon number 05309600 16 REGENTS PARK TIME BANK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 Accountlng policles 1.1 A¢¢ountlng convenlion The financlal statements have b6en prepared in accordance wilh tho charltable company's Memorandum and Articl8 of Assoclalion. the Companies Act 2006, FRS 102-The Financial Reportyng Slandard appI￿able In the UK and Republic of Ireland. {"FRS 102") and Ihe Charilies SORP 'Accounting and Reportlng by Charities: Stalemenl of Recommended Practice applicable lo charities prepafing their accounts in accordance with the Fin8ncial Reporting Standard applicable in the UK and Rapiiblic of Ireland (FRS 102)" (effeclive 1 January 2019). The ¢harilabl6 company is a Public Ben81il Enlity as defined by FRS 102. The flnancial $1glemenls arc prepared In slefling. which Is the functional currency of Iho charftabla company. Monetary amo¢Jnls In thesg linancial slatemenls are rounded lo the nearesl £. The financial slatemenls hav8 b88n prepared under the hIsto￿l cost convenllon. The prin¢ipal accountlng policies adopl8d ale sel oul below. 1.2 Golng concern The Charlty's Financi81 Statements show nel defi¢ll of £5.281 for the year (2023 - £8,338) and fra& roserve8 of £28,836 (2023 - £34.117). The Iruslees are of the vlew thal these results have secured the immedlale future of Ihe Charlty for the nexl 12 to 18 months and ￿ INS basls the Charily Is a golng concern, 1.3 Charllablè fundg Unreslrfcled funds 8re avallable lor us8 81 the dbScrell￿ of the Iruste99 In furtherance Of ih6lr charilabl& oble¢lSves. R8stricloTJ lunds are subj6et to speclft¢ conthllons by donors 88 lo how they may be u8ed. The wrposps and uses ol Ihe reslrlcted funds are set out in the notes lo fhe finandal 81alemenls. 1A Incomè All Income Is Inrjuded in the consdlda18d SOFA when Ihe chaflly15 legally gnlltled to It. recelpl Is probable and the amount can be measur8d wlth sufflclenl rgliabblity. Grant income Grants are crodlled to Ihe SOFA wh8n the charily Is entitled lo the funds. Incom8 Is Mly d8ferred whére there are Ilme conslrainls imposed by the donor or11 the funding Is performance related. Vvhere ènlillemenl lo grants recelvable is dependent upon fulfilment ol condilions vdlhln Ihe charltls control, th8 Income Is recognlsed when Ihere is suffkienl evldence that condilions will be met, Giants supporting tha core ttclivilies of the charity and with no speclfic restrictlons placed upon Ihelr use are Included wilhln donatlons and legacles. Granis that have sP8cific resldcllons tAaced upon thelr use are Included wlthin Incomo from charitable acttvitles. Capital granls for Ihe purchase of fixed assets are crethted to ieslricip.d incoming resources on Ihe earller dale of when they are received or receivable. Dep￿cation on Ihe rolaled fixed assets is Charged 8gainsl the Te5tr1cted ftjnd. Donatlon5 and legaclgs Donations are rpcogni5ed in the perfod in whlch they are r￿1ved. Legacy income is recognised when ihe charlly's on￿lleMent is judged lo b8 probable 8ThJ where Ihe amounl can be reliably measured. Contract Income Income from charllable acttvilies Include inrnm8 recognised as earned (8S the related goods and semces Bre piovidedl under contrad. 17 REGENTS PARK TIME BANK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31ST MARCH 2024 Accounling po11¢1e$ (Continued) Room hlre and $etvl¢e change Income Room hire and seryice Gharge Sn¢ome are credi18d lo inGome In the year In whlch they are recelvabl8. Investmontlncome Investment Income Is included when recelvable. 1.5 Expendituie Expendilure is r8cogn15ed ontte Ihere is a legal or consiructlve oblfgallon lo Iransfer economlc benefil to a third party, it is probable Ilial a Iransf&r of economlc boncfils will be requlred In selllemenl, and tho amount of lh8 oblSgaUon can be measured rellably. Expenditure Is dassifSed by acllvlly. The ¢051s of eaGh aGiivity are mad& up of the lot81 ol dlieot costs and shared cosls. includlng support costs Involved in undertaklng each acliwty. Direcl ¢osls 8ttfibulable lo a single aclivlty ale alloc318d diioclly lo ihal acuvlty. Shared costs which ¢ontribule to more Ihan activlty and support costs whlch are nol 8ttilbulable lo a sing16 actlvlty are ap￿rtiOned belween those activllles on 8 basis conslslent wllh lh& use of resources. Cenlral starr costs sre dkjcaled on Ihe basis of tlfflo sp9nl, and depredallon charges are allocated on the portion of the assol's u$e. Allocatlon of support Costs Support costs aré those lunclion8 that gssist tha work ol the charity but do not directly undertake eharll8ble activities. Support costs ir)clude back office cosls, payroll and gov8manc9 costs whlch support th8 ChBrSty'8 programmes and 8Glivllles, These cosls have been allocated lo charilablg 8Cthi118s. The basls on which support costs have been 8lloGated are sel out In note 6. 1.6 T8nglble fixed assgt$ Tanglble fixed assgls are Initially measuied at Cosl and subsequently measur8d at C08t or valuation, net ol depreclalion and any impalrment losses. DBpreclalion is iecognlsed 50 as to write off Ihe cost or v8luation ol assèts le5S thelr re81dual values ov&r thelr usolul live8 on the followlng bases- Compul8rs 33.33% on cost 1.7 CaBh and cash equlvalents Cash and cash equiv8lenls include osh In h8nd. dep)slts held 81 call wllh bank5, other short-lerm Ilquid Inveslments wllh origlnal m8lurlli&s of Ihree monlhs or less, and bank overdrafts. Bank overdrafts are shown wllhin borrowlngs In cuir8nl liabiltties. 1.8 Financlal Instruments The ¢lidril¢ib18 company has elected lo apply tho provlslons of Section 11 'Baslc Flnancial Instrumenls, and Seclion 12 '01her Flnanclal Instnjments Issues. of FRS 102 to all of Ils financi81 Instruments, Financial in81rumenls are recognlsed ￿ Ihe ¢haii18ble compan￿5 balance sheel when the ¢harilable company becomes party to the contractual provisions ot th8 InStru￿nL Fln8nclal ass8ls and liabilities are offset. with the nel amounls Presented In the financial slatemenls, when Ihere is legally enlorce8ble righl to s&t off the reCOgn￿e￿ amounts and Ihare is an inlenlion lo settle on 8 nel basis or to realise the Bssel 8nd settle Ihe Ilabllity slmultaneously. 1.9 Taxation Tho Charity is a regislered charity 8nd, therefore. is not liable for InrA)me Tax or Corporation Tax on Ii)come derivBd f￿rn ils charllablo acts'vllies. as it falls Within the various exemptions avallable to registered charities. 18 REGENTS PARK TIME BANK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31ST MARCH 2024 Accountlng pollcleB Icontlnuedj 1.1 Ll Credltors and provlsions Creditors and PTovislons are reccrfJnis8d when the charilablg company ha2 a legal or eonstructive presant obligallon as a result of a past event. h Is probable Ihal the charitabl8 company wlll be raquired to 6ettlg that obligalion and a reliable estimate can be made of amounl of crt)tigation. The amount rocognised as a provSsion is the b8St estimate of the consideration ￿qUIred lo gellle Ihe present obligallon at the reportlng end dale, laklng into account the ri8ks and uncertainties surrounding the obllgalion. Whore the effect of the lime value of money Is material, the amount expected to be required to sottle thg obli9allon is rocognised al ptesenl v8lue. When a provision is measurtsd al prosonl value. Ihe unvAnding of the dSscount Is Tecognised as a tinance cost In nel Incomol{expondlture) In the perlod In whlch11 arlses. 1.11 Volunteers and donatod sorvl¢es, facllltlès and goods Donated prol8sslon81 servkes and donaled larAlilles are recognlyed as Income when the charlty has Control over Iha item, any condllions associated wilh the donated Item have been mel. Iha recelpl of economic b&n8fi1 from the use by the charity of the ilern is probable and Ihat economlc benefit can ba measur@d reliably. In acGoidance th the Charities SORP IFRS 1021, the general voluntèèr limè of th8 Charlty ts not reco9nised in the maln budy of the flnanclal sl8tements, bul d818il 1$ cont8ined In tho TNste&s f8w1. On recelpt. donated proléssional servlces, donaled facSHb'es and goods are recognisod on the b881s of the v8lue of the glft lo Ihe ch8rily whkh Is the amount Ihe charity would have been wllllng to p8y to obtaln setvices or f8cllllle8 of equlvalenl e￿noMIC benefit the open market; a wrr8spondlng amounl is then recognlsed In expendllurg In Ihe perlod of r8celpl. 1.12 Debtors Tr8de and other debtors are r8ctyJni$8d at th8 settlemenl amounl due after any Ir8d8 diswunl off8rad. PTepaym8nls are valued at Ihe amount prepaid net of any trade disct)unts due. 1.13 Cash llow statement The charitable company qu811fle8 Bs a Small company and advanla9¢ hgs beon taken ol thè ex8mption provlded by SORP IFRS 102), not Io piopara a cash llow stalemenL Crltlcal accountlng 05tlma(e5 and Judgements In lh8 application of tho ch8rllable companrfs aGcowLing poli(ies. the truslees a￿ requlred to make ludgements, estlm81as and assumpllons 8bout the c8rryin9 amunl of assels and Ilabililles that are not readlly apparonl from other sources. The estimate5 and assoclaled 855urnption5 aro based on historical experience and other factor8 Ihat ar8 considered lo be rÈ18vant. Actual Tosulls may differ from these esllmal&s. The estimales and undedylng 8ssumption¥ are reviewod on an ongoing basls. Revisions lo a¢¢ounllng estimates af6 recognlsed in the period in whlch Ihe estirnale is revlsed where Ihe revision aff8cls only Ihal period, or In the period of the Fevlslon and fulure perlods where tho revision affects ljolh currenl and future peiiods. 19 REGENTS PARK TIME BANK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31ST MARCH 2024 Charltable actlvlties Soclal and gducatlonal actlvitlg5 Total 2024 Total 2023 Young Camden Found8tlon Camderb Glving John Lyon's Charfly Donats"ons in kind 1.558 1,558 3.000 2,1)00 4,000 17.600 15.000 12,645 15,000 12,645 29,203 29,203 28,600 Analysis by fuTh# Roslrlcled fvnds 29.203 29,203 26,600 29,203 29,203 26.600 For the y83r ènded 31 March 2023 Reslrlctgd fvnds 26,600 26.600 26,600 26.600 The Charity Is Indebt8d to vaiious donors for 8esslons wllh usgr8 provlded free of chanjè. The v8lu8 plac8d ijn th8se conliibulions is £12,645 {2023 - £17,600). The Income equlvalent h8s boon recognlsed ￿thIn the Inwme Irom charllable activities and an 9guivalent charge included wilhin 8xpenditura under othar dlrecl prol8cI costs. Othprlncomg UnTestrlcted funds Total 2024 TDtal 2023 Thlrd Age Proje¢l- Seconded slaff 2,085 2,085 1,945 2,085 2,085 1.945 For the ye4r ended 31 March 2023 1,945 1.945 20 REGENTS PARK TIME BANK NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31ST MARCH 2024 Charltabl• a¢tivitlo$ Social & educatlonal activitles Total 2024 Total 2023 staff costs Dlféct pn)18GI costs Cafe @xp8ns85 11,448 21.336 11,448 21,336 7,724 25,089 251 32,784 32,784 33,064 Shar8 of supp¢Yt eA)61s Isoe nole 6) Shar8 ot governance costs (see note 6) 1.841 1,944 1,841 1,944 2,019 1.800 36,589 36,569 36,B83 Analysls by lund Unreslricled furKIs ReslrtGted fvrKIs 7,366 29,203 7,366 29,203 10,283 26.600 Support c¢sts The Charfly Inlllally Identifies Ihe cosls of ils support lunctions. 11 Ihen Identifies those costs whlch relate lo the governgnce funcllon. Goveinance costs and other support costs are apportioned separatety between charSty'8 adSvllley undèrtaken (See note 5) in the year. All the general support and govgrngnca cost8 have been &pportloned lo Ihe varlous charitable aolmlles on the basFs of proportlon of dlFeCt Costs 8llocaied lo each acllvity. Supporl Governance osts costs 2024 2023 InsuranGo Communicalion and Informallon technOl￿Y Professional foes sUr￿ry expenses Independent examlne¢8 fe8S 1,156 565 67 1.156 565 1.071 701 215 32 1.BOO 53 1.9È14 1,944 1,841 1,944 3,785 3.819 Analysed belween Charitable aclivities 1,841 1.944 3.785 3,819 1.841 1.944 3,785 3,819 21 REGENTS PARK TIME BANK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31ST MARCH 2024 Netmov8mèntin funds 2024 2023 Nel movomontln funds Is slated after charylNglcr8thll￿I Indèpèndeftt examinèr's fiès Indèpendent examination fees Oiherservlces 1,166 778 1.080 720 1,944 1,8¢X) Employees Tho average number ol lull- Ilme equlvalent 8mploye8s was as follows: 2024 Numbor 2023 Numbgr Dlrecl prol8cI wot* 0.30 0.30 Tolal 0.30 0.30 The evgrage monthly number ol émploye88 during the y8arwas.' 1 (2023.. 1) Employmènt ¢osts 2023 Waggs and sakirl¢$ Ponsion contrlbuisons 11.223 225 7.518 206 11.448 7,724 No Tnjslee reGefved Qny remunerallon during iha year (2023 - £Nil). No trust8eB recelved ralmbursed expenses dudng ihe yoar (2023- NII). ThR key management personnel of the charity comprise of the c4)mpatby secretary. T Bh)or. He was not employed or pald fees by thc Charity. There were no employees whose annual remuneration was mre than £60.000. 22 REGENTS PARK TIME BANK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31ST MARCH 2024 Tanglble flxed assets Computsrs Tot Gost At 1 Aprfl 2023 1.430 1,430 At 31 March 2024 1.430 1,430 Depr•clation and Impalrment Al 1 Aprll 2023 1.429 1.429 At 31 March 2024 1.429 1,429 Carylng amount Al 31 March 2024 At 31 March 2023 10 Dèblors 2024 2023 Other deblorys Accrued In¢omo Prepayments 5,693 5,694 1,945 554 6295 8,193 11 Crèditors: amoun1$ lalllng du¥ wlthln one ￿ar 2024 2023 Trade credllors other credllors AcLrua15 307 50 1,81)0 1.994 2,107 23 REGENTS PARK TIME BANK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31ST MARCH 2024 12 Restrlcted funds The income funds of Charity include rgslricled funds comprlsiThJ the followng un8xp&nded balance5 01 don8llons and grants held on Irusl for Specif￿ purposes: Mov•m&nt In funds Incomlny Resowus Balanc¢ al rèathiftes 6X￿n￿&￿ 1 Aprll 2023 Movement In fund5 Incornlng R¢sour¢* Balatt¢è at ro$ourees •xp¢nded 31 Mar¢h 2024 Young Camden Foundatron Camden Gfvlng John Lyon's Charlly Donallons In kind 3.000 2,000 4,000 17,600 (3.000) 12.LTh)O} 14.iY)O) (17.600) 1.558 11.558) 15,000 12,645 (15.0001 12.645 26.6001 29.203 29,2031 MOVEMENTS IN FUNDS Tho lundlng for Indlvidual projects Included In reslrlcled funds is delalled b8knw.' John Lyon's Charlty A giant towards a Surnmer of Play Famlly Actlvlty Programm¢ over the school holidays targellng specifically al local ¢hHdren and young people. Camd8n Glvlng - A granl lowards pGtivTtlgs and trlps f(K local femllSes wllh young rhildren und8r 12 year8 8ccesslblg trj those who do not aocess Camden's services and Ilve on ihe Regents Park Estate, NWI Young Camd¢n Foundatlon A granl to provlde chlld orientat6d and la￿lY frlendly organlzgd actlvllies during the Summer. 13 Analysis of net assgts bètween fundg Unreslrlcted R•slflcted funds funds Total Unrostrlct•d R•sfrlct•d 2024 fund5 funds Totsl 2023 Fund balances at 31 Maroh 2024 a represenled by- Tangibio assets Current yss8ts1{liabllllles) 28,836 28,836 34.117 34,117 28,837 28,837 34.118 34.118 14 Share capltal Th8 ¢ompany is limilgd by guarantee and doès Dot have a share capilal dlvided by sharès. 15 Rèlated party transactlons There were no disclosable rolalgd party transa¢lk)ns during Ihe year (2023- nontrl 16 Panslon The pension cost charge represents conlribulions payable by the Charily to the fund 2nd amounted lo £225 {2023 £206). CoDlribulions tolaling £50 {2023- £Nil) were payab5e lo Ihe fund at Ihe year end and are included in olher creditors. 24