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2023-09-30-accounts

\ y Volunteer Centre

Report of the Trustees and Accounts For the period from 1 October 2022 to 30 September 2023

Company no. 6638750 (England & Wales) Charity no. 1127300

Myrus Smith Chartered Accountants Norman House 8 Burnell Road Sutton Surrey SM1 4BW

VOLUNTEER CENTRE TOWER HAMLETS

Contents

Page No.
Report oftheTrustees 2-24
Reportof the Independent Auditors 25 -28
Statement of Financial Activities 29
Balance Sheet 30
NotestotheFinancialStatements 31-38

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VOLUNTEER CENTRE TOWER HAMLETS

Report of the Trustees for the year ended 30 September 2023 The Trustees present their report and audited financial statements for the year ended 30 September 2023.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity Name: Volunteer Centre Tower Hamlets

Charity Registration Number:

1127300

Company Registration Number: 6638750

Registered Office: Norvin House 45-55 Commercial Street London E1 6BD

Trustees: Karin Maschler, Chair Leo Zawadzki, Treasurer Megan Cowley Safia Jama (retired 6 June 2023) Sabiha Khanam loana Popovici Alice Sims (retired 6 June 2023) Louise Theophile Alison White (retired 16 January 2023)

Senior Management: Catherine Bavage, Chief Executive

Auditors: Myrus Smith Chartered Accountants Norman House 8 Burnell Road Sutton Surrey SM1 4BW

Bankers: The Co-operative Bank PLC PO Box 250 Delf House Skelmersdale, WN8 6WT

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VOLUNTEER CENTRE TOWER HAMLETS

STRUCTURE, GOVERNANCE AND MANAGEMENT

Period of Account

The period of account is from 1 October 2021 to 30 September 2023.

Governing Document

The organisation is a charitable company, limited by guarantee, incorporated on 4 July 2008, and registered as a charity on 29 December 2008.

The company was established under a Memorandum of Association, which established the objects and powers of the charitable company, and is governed under those Articles.

Recruitment and Appointment of Trustees

The process for appointing the charity's trustees is set out in the Memorandum and Articles of Association. As VCTH is a charitable company, trustees also act as company directors. The minimum number of trustees is three, with no maximum. The Board of Trustees may appoint anyone willing and fit to act as a trustee and director, subject to the provisions of the Articles of Association.

One third of trustees must retire (but may stand for re-election) each year. Trustees are appointed annually, for a maximum of seven consecutive years, at which point they must retire. Trustees who have served seven years may stand for re-election, but only one year after the date of their retirement. Trustees may only hold the same Honorary Officer role for a maximum of five years. The charity conducts regular skills, experience and diversity audits of trustees. These audits identify gaps in skills, or under-representation of particular groups or communities, and are fundamental to the recruitment process. Vacancies are advertised widely and potential trustees are invited to complete an application form, outlining their relevant skills and experience. Shortlisted applicants meet with a selection panel, comprising the Chair, one other trustee and the Chief Executive. If successful at interview, applicants are invited to observe a Board meeting and meet current trustees. If all parties agree to proceed, the applicant is either co-opted or nominated for election at the next AGM.

Trustee Induction and Training

Trustees are provided with a role description, outlining their statutory and additional governance responsibilities. On joining the Board, trustees are introduced to other Board members and paid staff, and provided with a comprehensive induction. Trustees are expected to attend regular Board meetings and an annual Away Day. They must acquaint themselves with VCTH’s policies and procedures, strategic plans, budgets, and governing document. Trustees are prompted to take up relevant learning and development opportunities to help them fulfil their role and responsibilities.

Risk Management

Our Risk Register identifies risks and their potential impact in 5 areas: governance, operational, financial, environmental/external, and compliance. It describes the steps needed to mitigate risks.

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VOLUNTEER CENTRE TOWER HAMLETS

The trustees have considered all the major risks to which the charity is exposed and are satisfied that systems or procedures are established to mitigate those risks. The Risk Register Action Plan, approved in March 2022, helped further mitigate risks during 2022- 23.

The charity has a suite of policies and procedures that trustees, staff and volunteers must observe. During the year, trustees reviewed and updated 3 policies:

A working group was established to review VCTH's Health & Safety policies and procedures and to develop a new Working From Home Policy.

In June 2023 the Board appointed a new Designated Board Safeguarding Lead.

To ensure that VCTH complies with legislation and implements good employment practice we maintained our contract with Bright HR, who provide the trustees and Chief Executive with employment advice. We continued to offer Bright HR’s Employee Assistance Programme to the team, giving staff and volunteers access to health and wellbeing support, including a 24-hour helpline, and counselling sessions.

Staff continued to work primarily from home throughout 2022-23. They were provided with the necessary equipment and paid Working At Home Allowances. Being office-free prioritises our commitment to sustaining services and staffing over fixed accommodation costs, enabling VCTH to make considerable savings on core costs and sustain a more climate-friendly model.

We continued to use the professional services of Adrian Hull as our management accountant, and Creative Payroll Services for managing payroll.

A charity combined insurance policy was in place throughout the year covering; employer's liability (£10m), public liability (5m), products liability (£5m), business interruption, executive risks (including trustee indemnity and directors’ liability), professional indemnity, cyber loss recovery, fidelity guarantee, property and business equipment, money and personal accident assault, group personal accident, goods in transit, and legal expenses. We took commercial legal expenses insurance through Bright HR to indemnify VCTH against legal costs and compensatory awards associated with employment disputes. Under VCTH’s Conflicts of Interest Policy trustees and staff must declare any actual, potential or perceived conflicts of interest. In January 2023 all trustees and staff updated their declaration of interest forms. Declaring conflicts was a standing agenda item at Board meetings.

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VOLUNTEER CENTRE TOWER HAMLETS

The impact of the COVID pandemic, combined with growing poverty caused by the cost of living crisis, created increased demand on services provided by most voluntary and community sector organisations. This led to even more intense competition for funding, making securing income extremely challenging. VCTH’s income fell by just over 16% from £187,041 in 2021-22 to £156,641 in 2022-23.

In recognition of our limited reserves, we negotiated funding in advance, wherever possible. This arrangement ensured positive cash flow throughout the year.

We took our commitment to protecting individuals’ personal data seriously. During the year, the Volunteer Centre re-registered with the Information Commissioner's Office. Staff and volunteers are aware of their responsibilities not to disclose the personal or sensitive data of our service users.

VCTH is committed to recruiting suitably qualified and experienced staff. Continued professional development for staff is essential for retention, ensures that skills and knowledge are updated, and reduces our exposure to risk. In 2022-23, all staff took up learning and development opportunities. All team members completed training in Emergency First Aid in the Workplace (certification valid for 3 years), adult safeguarding, and recognising and challenging unconscious bias. Other training completed by some colleagues included; presentation skills, emotional intelligence, safeguarding 16-25 year olds, and safeguarding children.

Organisational Structure

Volunteer Centre Tower Hamlets was established in July 2008 as an independent charitable company by a team of four committed volunteers, who became its initial 3 trustees and founder Chief Executive. The charity marked its 15th full operational year on 30 September 2023.

Volunteer Centre Tower Hamlets has a Board of Trustees, which meets at least 6 times a year, and is responsible for the strategic direction and governance of the charity. The charity’s Chief Executive attends Board meetings as an advisor, but does not have voting rights.

During the year, nine individuals were involved as charity trustees. Four were Tower Hamlets residents, ensuring local community involvement. Karin Maschler and Leo Zawadzki continued in the roles of Chair and Treasurer respectively — positions they have held since August 2021. Three trustees retired during the year: Alison White in January 2023, and Alice Sims and Safia Jama in June 2023.

Responsibility for operational management was delegated to the Chief Executive, Catherine Bavage, who is responsible for HR, finance, fundraising, and managing service delivery. She ensures that the charity delivers high quality, responsive services to meet the targets and outcomes set out in grants and contracts.

The Board of Trustees appoints all staff, including key management personnel, on a grade within the National Joint Council (NJC) pay scale for Local Government employees. Where the charity's financial position allows, the Board awards annual pay rises, agreed nationally by the NJC.

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VOLUNTEER CENTRE TOWER HAMLETS

OBJECTIVES AND ACTIVITIES FOR PUBLIC BENEFIT

Volunteer Centre Tower Hamlets (VCTH) is the recognised volunteering infrastructure agency in the London Borough of Tower Hamlets. Our charity's objects are:

In forming our objectives, the trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard for the public benefit guidance published by the Charity Commission.

Mission

Our mission is to provide a comprehensive volunteering infrastructure service to nonprofit groups and communities in Tower Hamlets, to increase the quality, quantity and impact of volunteering in the borough.

Core Functions

Our 5 core functions are:

We also manage the Voluntary Sector Children and Youth Forum (VSCYF), bringing together and supporting voluntary and community sector organisations that provide services to children and young people in Tower Hamlets. Most of these organisations involve volunteers in their work.

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VOLUNTEER CENTRE TOWER HAMLETS

ACHIEVEMENTS AND PERFORMANCE

1. Volunteer Brokerage

Our brokerage serviced linked potential volunteers to not-for-profit organisations that needed help. We brokered people aged 16+ who lived, worked or studied in Tower Hamlets, providing them with information about suitable volunteering roles and encouraging applications.

For the six months between 1 October 2022 and 31 March 2023 we received funding from Tower Hamlets Council to run the Tower Hamlets COVID-19 Recovery Volunteer Hub, first launched in March 2019. The Hub sourced local volunteers to respond to the needs of the community, helping support the borough’s recovery from the pandemic. This year we referred volunteers to 89 Voluntary and Community Sector (VCS) organisations and public sector bodies.

We promoted volunteering via our website and by sending regular Volunteer Alerts to individuals who registered with us and expressed an interest in starting to volunteer.

Between October 2022 and January 2023, our Volunteering Advisors delivered 3 “Introduction to Volunteering” presentations to groups of students at Global Banking School and at University of West Scotland’s Tower Hamlets campus. We regularly attended Workpath’s Employment Advisors’ Forum and gave a presentation to remind professionals of the benefits of volunteering and encourage referrals of unemployed residents. In March we held a stall at the Mayor's International Women’s Day event.

Between October and March we collated information about free training opportunities, employability support and job vacancies. This was sent to volunteers via our monthly Employment Support and Training (EST) Alerts, which volunteer could opt to receive.

We continued to receive enquiries from private sector companies interested in employer supported volunteering (ESV). Although we did not have capacity or funding to arrange team volunteering days ourselves, we referred 71 companies to local Volunteer Involving Organisations that offered corporate volunteering opportunities.

Volunteer Numbers

Between 1 October 2022 and 30 September 2023, a total of 677 new volunteers registered with us — an average of 56.4 per month. This was up 2% from the 664 registrations in 2021-22, with registration numbers similar to pre-pandemic years. The national picture indicates that, post-COVID, fewer people have been coming forward to volunteer. Our data suggests that Tower Hamlets may not have experienced quite as severe a fall in volunteering numbers as some other geographical areas. Client Demographics We aimed to provide an inclusive brokerage service to a wide range of volunteers, reflecting the diverse communities in Tower Hamlets. We requested equalities data from all volunteers at the point of registration, but many chose to withhold information on some or all of their protected characteristics. This resulting data on volunteer demographics is therefore incomplete, but provides a reasonable indication of the people using our services and of shifting patterns.

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VOLUNTEER CENTRE TOWER HAMLETS

Age

74% (503 of 677 volunteers) provided information on their age. The eldest volunteer who registered was 77 and the youngest was 15. Almost half (49.5%) of the volunteers registering were aged 20-34 (249 of 503 volunteers). According to Census 2021 data, 37.8% of Tower Hamlets residents are aged 20-34, so VCTH performed very well at attracting younger adults to volunteer.

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AGE OF VOLUNTEERS
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Gender

74% (503 of 677 volunteers) disclosed their gender. Of these, 72% (362 of 503) defined as female (2021-22: 68%) and 28% (139 of 503) identified as male, a fall from 32% in 2021-22. Two volunteers identified as non-binary or as trans. According to the Census 2021, the borough’s residents are 50.2% male and 49.8% female.

GENDER OF VOLUNTEERS

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Sexuality

45% (306 of 677 volunteers) disclosed information about their sexuality, down slightly from 47% in 2021-22. Of these respondents, 92% (281 of 306 volunteers) identified as heterosexual. There wasa significant fall in volunteers identifying as lesbian, gay or bisexual: 8% this year compared to 18% in 2021-22. According to Census 2021 data, 6.48% of the Tower Hamlets population identified as lesbian, gay or bisexual.

SEXUALITY OF VOLUNTEERS

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VOLUNTEER CENTRE TOWER HAMLETS

Ethnicity

61% (414 of 677 volunteers) provided data on their ethnicity, exactly the same percentage as in 2021-22. The ethnicities of volunteers registering with VCTH largely reflected the local population.

The single largest ethnic group of volunteers was Asian/Asian British Bangladeshi at 33% (137 of 414 volunteers), up 6.5% from 26.5% in 2021-22. This is broadly in line with the borough’s Bangladeshi population (Census 2021: 34.6%). Post-pandemic VCTH has made headway in attracting more Asian/Asian British Bangladeshi volunteers.

The second largest ethnic group of volunteers at 17% (70 of 414 volunteers) was White British — a 7% fall from 24% in 2021-22, and below the borough’s White British population (Census 2021: 22.9%).

A further 9.4% (39 of 414 volunteers) defined as Black or Black British African, Caribbean, Somali or Black Other, exceeding the borough profile of 7.3% of residents from these communities.

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Faith

51% (342 of 677 volunteers) disclosed their faith/religion when registering. People of most major faiths, and none, were represented. The single largest group was Muslims at 45% (155 of 342 volunteers), an 8% rise on the previous year of 37%. This exceeds the Muslim population recorded in the Census 2021 at 39.9%.

For the first time, the second largest group of respondents at 22% - were of no faith (75 of 342 volunteers). Census 2021 data showed people of no faith to be 26.6%.

This year 20% (70 of 342 volunteers) told us they were Christians, just below the percentage of Christian residents in the borough (Census 2021: 22.3%).

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Employment Status

60% (407 of 677 volunteers) disclosed their employment status. The number of volunteers in employment fell to 47% (190 of 407 volunteers) from 55% in 2021-22. This comprised 31.2% full-time employed, 11.3% part-time employed and 4.2% selfemployed. People in full-time employment fell by 10% from the previous year.

VCTH continued to support a growing number of volunteers who were not working. 18% (73 of 407 volunteers) were unemployed, up from 16% in 2021-22. A further 19% (79 of 407 volunteers) were full-time students, up 3% from the previous year.

VOLUNTEERS’ EMPLOYMENT STATUS

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VOLUNTEER CENTRE TOWER HAMLETS

Tracking

During the year we received 1,173 unique expressions of interest in the volunteer roles we advertised. Details of each volunteer application were passed to the relevant Volunteer Managers in host organisations, and volunteers were also provided with contact details for the organisations they wished to support.

Tracking volunteer starters is a challenging and time-consuming exercise. We systematically sent follow-up emails to applicants referred to roles to ask if they had started volunteering or to offer assistance. Often we did not hear back. This year we received confirmation from 82 individuals that they had begun volunteering, but this is only a partial picture of the likely number of starters.

2. Good Practice Development

We continued to deliver activities to support and build the capacity of Volunteer Involving Organisations (VIOs) to implement good practice in volunteer management. Tower Hamlets Council funded this work via our Local Community Fund Infrastructure and Capacity Building Grant.

Volunteer Management Training

We delivered six half-day training courses for Volunteer Managers online on Zoom. A total of 70 Volunteer Managers attended our training - an average of 11.6 trainees per course (up from 10 per course in 2021-22), demonstrating a sustained demand for online training. Training topics were:

84% of the participants (59/70) completed an evaluation survey. Of these 97% (57/59) rated our training as “excellent/extremely useful” or “good/very useful’. 83% of respondents told us they had progressed in terms of knowledge (49/59). An impressive 100% of respondents committed to making a change within their organisation or taking an action as a result of the training. Peer Learning Sessions for Volunteer Managers We ran four Peer Learning sessions, attended by 40 participants, an average of 10 per session (1 more per session than the previous year). The sessions provided a blend of professional development and learning opportunities for people who manage volunteers. They included guest speakers and much-valued opportunities for peer support. The topics were:

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VOLUNTEER CENTRE TOWER HAMLETS

Bespoke Advice on Volunteer Programmes Our Training and Best Practice Manager provided one-to-one advice to organisations on all aspects of managing their volunteer programmes. A total of 25 organisations were supported with good practice advice over 41 sessions. This represented a considerable increase of 10 sessions and 7 organisations accessing the service compared to the previous year.

Several months after providing advice, we surveyed organisations about the effect of our advice, in particular the improvements that they had been able to make. Our impact survey was completed by 14 organisations and 15 individuals who received a mix of one-to-one advice, training and peer learning sessions. 100% of respondents had found VCTH’s support service useful. Of these, 8 (53%) found it “extremely useful’, while 7 (47%) found it very useful. 93% (13/14) of organisations had already implemented improvements or changes to their volunteering programme, policies or practices.

Organisations rated the quality/level of their volunteering practices before and after they received support from VCTH on a scale of 1 (low) to 10 (high). On average organisations started at level 5.8 and increased to 8.4 following VCTH’s support. All 15 respondents (100%) would recommend VCTH’s advice service to other voluntary and community sector organisations. Some quotes from our beneficiaries:

“Great service and always prompt and responsive. The advice provided was useful, relevant and accessible. lt has been a pleasure to work with VCTH and attend the training sessions, which have been invaluable”.

“The Volunteer Centre has been extremely valuable for helping our team improve the way we deliver our project and support our staff. Evelyn has always helped to send very thorough information and advice and its always timely. Thank you”.

Good Practice Tips and Blogs In our monthly e-bulletin, we regularly included bite-sized advice on volunteer management issues, either in the form of answering a particular question in our ‘Ask Evelyn’ column, or as a ‘Top Tip’. Topics included:

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Organisations Registered

This year we registered 20 new Volunteer Involving Organisations, 2 fewer than the previous year, but exceeding our annual target of 16 by 25%. Each organisation underwent a short health-check to ensure they could provide a safe and welcoming environment for volunteers before we advertised their volunteer roles, and raise awareness of our training and advice services. At 30 September 2023 a total of 535 organisations were registered with VCTH, a net increase of 18.

3. Developing Volunteering Opportunities

We developed volunteering opportunities in partnership with the not-for-profit organisations registered with us. These included charities, community groups, social enterprises, and public sector bodies. Registered organisations were predominantly based in or provided a service to Tower Hamlets residents.

We worked hard to ensure that the volunteer roles offered were meaningful, appealing and inclusive, and that volunteers would be supported in a safe environment.

New organisations registered this year were:

----- Start of picture text -----
1. Adult Literacy Trust 11.Limehouse Town Hall
2. Art Explora Consortium Trust
3. British Heart Foundation 12.Mile End Parkrun
4. Canary Wharf Multifaith 13.NUTU Academy CIC
Chaplaincy 14. Paracarnival CIC
5. Elop: LGBT Mental Health and 15. Rejuvenate UK CIC
Wellbeing 16. Skaped
6. Fern Street Family Centre 17. Teenage Cancer Trust
7. Friends of Aspen Court 18. The Literacy Pirates
8. GFS (Girls Friendly Society) 19. The Zacchaeus Project
9. Globe Community Project 20. Transform Justice
----- End of picture text -----

  1. Heritage Charity London

We continued to support Tower Hamlets communities in recovering from the pandemic, with funding from LBTH for our COVID Recovery Volunteering Hub. We worked with organisations in the borough that were delivering vital services to some of the most vulnerable members of our community. We aimed to help them develop volunteer roles that would enable and enhance their service delivery, while also appealing to a diverse range of potential volunteers.

We developed and promoted 330 volunteering roles over the entire year (321 roles in 2021-22). Most roles required multiple volunteers, and some were advertised more than once. We encouraged organisations to make their volunteer roles more flexible, enabling time-poor volunteers to get involved, and to open up volunteering to as wide a pool as possible. Roles were routinely advertised for 3 months, or until organisations told us they no longer needed volunteers, or asked us to renew their adverts. This process helped us maintain an accurate database of current vacancies.

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VOLUNTEER CENTRE TOWER HAMLETS 4. Voice of Volunteering and Communications

Campaigning and Informing

Another core function of the Volunteer Centre is to be the local voice of volunteering - increasing awareness of the issues affecting volunteers and Volunteer Involving Organisations. We campaign for a volunteer-friendly climate, where everyone can participate. We aim to influence local decision-makers and funders about the value of volunteering to our communities and increase understanding of how volunteering benefits individuals. We advocate for greater recognition of the cost of well-run volunteering programmes, and the importance of effective volunteer management. We disseminate policy, information and statistics, encourage organisations to think about how changing policy and legislation may affect their volunteer programmes, and urge them to join relevant campaigns. Throughout the year we kept 535 organisations informed (up 18 from 517 in 2021-22).

Ebulletins

Our main communication channel with Volunteer Managers was our monthly ebulletin. These newsletters included information on; training for workers and volunteers, funding for volunteering programmes, policy developments, campaigns and research, and volunteer managementjob adverts. The ebulletin went out to an average of 628 contacts (a fall of 8% from the 682 contacts in 2021-22). However, the average open rate continued to increase and was 28% in 2022-23, up 6.4% from the 21.6% open rate in 2021-22. This data suggests a slightly smaller but significantly more engaged audience. Website We updated our new website — www.vcth.org.uk - regularly. Content for Volunteer Managers included information about upcoming training and peer learning sessions, downloadable factsheets, and a best practice blog. Webpages for volunteers included: a new step-by-step guide on how to apply for a volunteer role and what to expect, as well as case studies. There were links to register with VCTH and view current volunteering roles. Conscious that some of our audience have limited digital skills, we focused on ensuring the website remained easy to navigate.

Our website registered 23,756 page views — an 8.9% decrease on the 25,992 page views in 2021-22. There were 19,995 unique visits. The number of hits to VC Connect, where all our roles are advertised, reached 9,163, which was a very significant 52% increase on the 6,027 hits in the previous year.

This is the last year that Google Analytics can be used to compare data to previous years. A new tracking for GA4 has been installed and will be used to report on data from October 2023 onwards. However statistics will not be as comparable because GA4 tracks different activities compared to traditional Google Analytics.

Social Media — Facebook and Twitter (X)

We used Facebook to engage with local residents to promote our latest volunteer roles. By September 2023 our Facebook account reached 1,400 followers - an 8% increase on the 1,297 followers at the end of September 2022. We published 20 posts in 202223 with a total reach of 1.6K and 5.3K impressions.

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VOLUNTEER CENTRE TOWER HAMLETS

We used Twitter to engage with other organisations and to communicate with Volunteer Managers. In April 2023, Twitter re-branded as X. Unfortunately X no longer offers analytics on the free plan we use. The number of followers stayed the same as in 202122 at 2.3k.

Volunteer Alerts

We maintained a mailing list of people who had registered their interest in volunteering via our website. We updated this regularly to add new registrants and remove unsubscribers, ensuring an engaged audience. By 30 September 2023 the mailing list for the Volunteer Alert reached 3,392 subscribers, a 4% increase on the 3,267 subscribers the previous year.

We used this mailing list to send 38 Volunteer Alerts over the year. Alerts featured 177 volunteer roles in 84 different organisations. Many of these roles were completely new, and some were included because organisations had an urgent need for more volunteers.

Volunteers’ Week (1-7 June 2023)

National Volunteers’ Week provides an annual opportunity to thank volunteers for their contributions and to raise the profile of volunteering, encouraging more people to get involved.

For Volunteers’ Week we sent an alert to 3,343 volunteers with an open rate of 44%. This alert promoted our new “Get Started with Volunteering” presentation.

Our Volunteers’ Week special ebulletin for Volunteer Managers was published on 1 June to 618 recipients, with an open rate of 25%. It encouraged local Volunteer Managers to reward and celebrate their volunteers.

On Facebook we posted one volunteer role per day during Volunteers’ Week, generating 650 impressions and reaching 284 users. Volunteers’ Week was also promoted on X, generating 728 impressions.

5. Strategic Development of Volunteering

As the volunteering infrastructure agency for Tower Hamlets, VCTH is recognised as the local volunteering expert in the borough. Strategic partners across Tower Hamlets often look to us for input and guidance on volunteering issues. We seek to represent the interests and concerns of volunteers and Volunteer Involving Organisations at borough and pan-London levels, and ensure a coherent, joined-up approach.

Co-Operate

VCTH'’s Chief Executive and the VSCYF Co-ordinator were active members of CoOperate — a joint strategic body of voluntary sector representatives, senior Council staff and elected Councillors. Co-Operate aims to transform how organisations work together to enhance the lives of local people. Between us, we represented the interests of Volunteer Involving Organisations and organisations providing services to children and young people.

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VOLUNTEER CENTRE TOWER HAMLETS

Co-Operate met twice in 2022-23. In November 2022 the group discussed key issues affecting voluntary sector organisations, as well as how the cost of living crisis was impacting local residents and charities. At the May 2023 meeting we considered the problems caused by delays to procurement of services from the voluntary sector, discussed the Mayor's Community Grants programme, and set out the challenges facing the voluntary sector workforce. VCTH’s Chief Executive joined a Task and Finish Group that met over the summer to plan activities that would promote both volunteering and paid employment in the voluntary sector.

Tackling Poverty - HAF Programme

VCTH’s Chief Executive remained a member of the Holiday Activities and Food (HAF) Programme Steering Group, supporting the Council’s Tackling Poverty Team. The HAF Programme targets children from low-income households who are eligible for benefitsrelated free school meals. Voluntary sector providers offered sports, arts and cultural activities, along with a free healthy lunch, to ensure that children did not go hungry during the school holidays. We recruited volunteers for these organisations during school holidays.

Supporting Refugees and Asylum Seekers

We continued to attend monthly meetings, convened by Tower Hamlets Council, for VCS organisations providing support to asylum seekers and refugees in the borough. These cross-sector partnership meetings enabled professionals to share insights, identify needs and deliver appropriate targeted services. A growing number of asylum seekers were housed in temporary hotel accommodation across the borough, with no right to work or recourse to public funds. VCTH provided information so that asylum seekers and refugees were aware of our brokerage service and their right to volunteer.

Partnering with Tower Hamlets CVS

Throughout the year we continued to work closely with our main partner, Tower Hamlets Council for Voluntary Service (THCVS), to share insight and avoid duplication of services. Between us we represented the broadest possible range of local Voluntary and Community Sector organisations at strategic level. The Chief Executives met regularly to share information, identify common issues of concern and discuss strategic responses. We delivered our fourth and final year of the Infrastructure and Capacity Building programme in consortium with THCVS, ending on 31 October 2023.

National and Regional Strategic Bodies

We were active members of:

Our Chief Executive attended quarterly London Plus Volunteer Centre Network meetings, engaging with staff in other London Volunteer Centres to share challenges and successes of facilitating volunteering in the Capital, and identify opportunities for joint working across the region.

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6. Voluntary Sector Children and Youth Forum (VSCYF)

VCTH facilitated the Voluntary Sector Children and Youth Forum (VSCYF) for a 15th successive year. The Forum was funded under a contract extended by Tower Hamlets Council's Children’s Services Directorate for an additional year until March 2024.

The Forum supports and represents voluntary and community sector (VCS) organisations that provide services to children, young people and their families. It acts as a conduit between these VCS organisations, Tower Hamlets Council and other statutory partners. VCTH employs a part-time Co-ordinator, who liaises with all parties to ensure effective information sharing, communication and representation. The Voluntary Sector Children and Youth Forum met 4 times during 2022-2023 (5 times in 2021-22), with average attendance of 11 organisations per meeting (16 organisations in 2021-22). This year meetings were held alternately on Zoom and in person, and covered a variety of subjects, including:

Forum meetings included valuable briefing sessions from senior staff from LBTH Children’s Services Directorate.

Eleven new organisations joined the Forum during the year, bringing the total VSCYF membership to 287 organisations — a net increase of 2 from the previous year. The total number of voluntary sector professionals on our database stood at 342 - a net decrease of 27 individuals from 2021-22.

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We produced quarterly VSCYF e-bulletins which included; Forum and Tower Hamlets news, advertised funding and training opportunities, and promoted events for children, young people or organisations that support them.

Facilitating voluntary and community sector representation continued to be a key focus of the VSCYF Coordinator’s work. Two voluntary sector representatives and the VSCYF Coordinator met regularly to ensure good representation for all VSCYF members.

The VSCYF Coordinator also delivered practical services for Forum members. She assisted 9 member organisations with funding applications, or helped them decide whether to apply. In addition, she supported 8 organisations with reviewing and developing their safeguarding policies and procedures.

During the year, we organised 4 training workshops for VSCYF members on:

Average trainee numbers (6 per workshop) were up on the previous year, with 26 attendees across the year (a 100% increase on the 13 attendees in 2021-22).

7. Consultancy Work and Income Generation

Consultancy work enabled VCTH staff to use their expertise, while helping diversify our funding base and generating unrestricted reserves. This year, we continued to support Ocean Women’s Association on a consultancy basis with identifying potential funders and writing fundraising applications to ensure sufficient funding for their programmes delivered by volunteers. We were commissioned by Spitalfields City Farm to support them with overhauling their volunteer programme and running training for their staff team.

We also received small donations from the public via Paypal.

To our staff

The trustees wish to extend our gratitude to the staff team who have worked tirelessly throughout the year. They are undoubtedly our greatest asset. Their determination, skills and experience have enabled VCTH to deliver exceptional services for Tower Hamlets communities. Our thanks go to:

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To retired trustees

Three trustees retired during the year. Alison White retired in January 2023 having completed a term of 4 years. Safia Jama retired in June 2023 after completing 3 years as a trustee. We thank them for their contributions and will miss them.

A very special thank you to Alice Sims, who left the Board in June 2023 after 6 years’ involvement. During much of her time as a trustee, Alice served as an outstanding Chair, leading our Board and guiding the charity skilfully and with great empathy through some challenging periods.

To our funders

We are extremely grateful for the money and confidence that our funders have invested in Volunteer Centre Tower Hamlets. During 2022-23 they were:

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PLANS FOR FUTURE PERIODS

The staff and trustee team came together in December 2022, for a strategic planning Away Day, using this time to review the context in which VCTH is working. We looked at the services we provide and how they are funded, as well as the picture of volunteering locally and nationally.

Using a SWOT approach, we identified three topics for further discussion, including the impact of the cost-of-living crisis, volunteer demographics and under-representation, and potential future funding. We considered services that we would like to maintain or introduce to address unmet needs. Trustees subsequently agreed strategic priorities for January to December 2023.

Trustees have since agreed four strategic priorities for April 2024 to March 2025, following input from staff. They are:

  1. DIVERSIFY INCOME SOURCES TO SUSTAIN SERVICES AND INCREASE OUR FINANCIAL STABILITY

  2. Update our Fundraising Strategy, identifying potential funders and a timeline for bids

  3. Become less dependent on Council grant funding by securing at least one new contract or grant

  4. Secure an early commitment that the VSCYF project will be re-tendered

  5. Consider new opportunities, as they arise, to apply for funding that will enable us to run projects targeting particular communities (eg new migrants/asylum seekers, young people).

  6. DRIVE UP PARTICIPATION IN VOLUNTEERING AT ALL LEVELS, TARGETING MINORITISED ETHNIC COMMUNITIES AND PEOPLE ON LOW INCOMES

  7. Deliver the Minoritised Ethnic Trustees (METs) training and matching programme, placing local residents in governance roles

  8. Increase VCTH’s visibility and raise awareness of volunteering via outreach activities (group presentations, Volunteering Fairs, Job Fairs, working with referral agencies)

  9. Ensure a strong supply and range of volunteer roles that appeal widely

  10. Support local organisations to become more inclusive and diversify their volunteer cohorts via our peer learning, training, and best practice advice services.

  11. RESPOND TO THE COST OF LIVING CRISIS AND POVERTY > Deliver the Improving Employability Through Volunteering programme, supporting unemployed and under-employed residents to volunteer, gaining skills and experience that will increase employability

  12. Recruit volunteers for local VCS organisations delivering services that address poverty

  13. Run a campaign for organisations, encouraging them to reimburse volunteer expenses.

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FINANCIAL REVIEW

On 16 August 2022 VCTH trustees agreed a provisional deficit budget for the year commencing 1 October 2022, projecting a shortfall of -£43,303. This became our fundraising target. By 30 September 2023, the deficit had been reduced to £12,333.

Net current assets (working capital) held at 30 September 2023 amounted to £37,856 (down from £50,189 at 30 September 2022).

Reserves Policy

At the end of the charity's fifteenth operational year at 30 September 2023, our total reserves had decreased by 24.6% from £50,189 to £37,856. Of these reserves, £35,937 (95.6%) was unrestricted and £1,919 was restricted funds.

Trustees are aware of growing redundancy liabilities associated with long-serving staff, and the need to include the cost of consultation and notice periods in the event of redundancies, as VCTH’s major liability.

Our Reserves Policy, agreed on 12 October 2021, was in place throughout 2022-23. This states that trustees will aim to maintain free reserves at a level which covers at least three months’ running costs, but does not exceed that level plus the redundancy obligations the charity would have in the event of a wind up. The trustees agree this level is the most prudent and would enable to charity to continue to operate in the event of an emergency, or a sudden cut to funding.

Trustees acknowledge that this level of reserves may be aspirational in a challenging funding environment. They agree that, while VCTH should strive to maintain this level of reserves, this should not be achieved at the detriment of VCTH’s core values and long-term viability.

On completion of the annual budget, trustees and the Chief Executive will identify the new target range for free reserves. VCTH trustees monitor the level of reserves regularly. The main mechanism for monitoring is the scrutiny of management accounts and cash flows presented quarterly at trustee board meetings, along with an updated redundancy calculator that tracks our redundancy liabilities. This ensures that trustees are aware of any build-up of excess reserves, or of reserves being depleted unexpectedly or rapidly. Our Reserves Policy will be reviewed annually, and whenever there is a significant change in VCTH’s liabilities. It was updated in January 2024 and the next review is due in January 2025.

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At June 2024 the target reserves range is calculated to be between £52,754 and £95,900. The lower figure is 3 months’ running costs, based on annual expenditure in 2022-23. The higher figure is 3 months’ running costs plus redundancy liability of £43,146 for4 staff. For the year ending 30 September 2023, VCTH made a small deficit of £12,333. Our unrestricted reserves decreased to £35,937. At 31 March 2024, our unrestricted reserves position stood at £46,520, which is £6,234 below the lower end of our reserves target range.

Looking Ahead

Having weathered a challenging financial period in 2022-23, we are pleased to report that three multi-year funding streams have been secured from The London Borough of Tower Hamlets and City Bridge Foundation. This funding provides VCTH with a far greater degree of stability and security until at least September 2026. We will continue to apply for new funding that will enable us to sustain and extend our services.

Trustees’ Responsibilities Statement

The trustees (who are also Directors of VCTH for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose, with reasonable accuracy, at any time, the financial position of the charitable company, and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

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The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Auditors

In 2023 the trustees re-appointed Myrus Smith Chartered Accountants as the charitable company’s auditors.

This report has been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective January 2019) and in accordance with the special provisions relating to companies subject to the small companies regime within part 15 of the Companies Act 2006.

Approved by the Board of Trustees on 20 June 2024 and signed on its behalf by:

Karin Maschlier, Chair and Trustee

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independent Auditor’s Report to the Members of Volunteer Centre Tower Hamlets

Opinion

We have audited the financial statements of Volunteer Centre Tower Hamlets (the ‘charitable company’) for the year ended 30 September 2023 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concer are described in the relevant sections of this report.

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Independent Auditor's Report to the Members of Volunteer Centre Tower Hamlets .../Cont'd

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Report of the Trustees, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

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Independent Auditor’s Report to the Members of Volunteer Centre Tower Hamlets .../Cont’d

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement (set out on page 23), the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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VOLUNTEER CENTRE TOWER HAMLETS Independent Auditor’s Report to the Members of Volunteer Centre Tower Hamlets .../Coni’d

Auditor’s responsibilities for the audit of the financial statements .../Cont’d

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Ya

Kevin Fisher BA FCA CTA (Senior Statutory Auditor) For and on behalf of Myrus Smith Chartered Accountants and Statutory Auditors Norman House 8 Burnell Road Sutton, Surrey SM1 4BW

AW Dune 2024

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Statement of Financial Activities {including Income and Expenditure Account) for the year ended 30 September 2023

Unrestricted Restricted Total Total
Funds Funds 2023 2022
Note £ £ £ £
Income from:
Charitable activities 2 75,677 80,964 156,641 187,041
Total Income 75,677 80,964 156,641 187,041
Expenditure on:
Charitable expenditure 3 89,179 79,795 168,974 182,237
Total Expenditure 89,179 79,795 168,974 182,237
Net income/(expenditure) 7 (13,502) 1,169 (12,333) 4,804
Transfers between funds 12 - - - -
Net movement infunds (13,502) 1,169 {12,333) 4,804
Funds broughtforward 12 49,439 750 50,189 45,385
Totalfundscarriedforward 12 £35,937 £1,919 £37,856 £50,189

All income and expenditure is derived from continuing activities.

The SOFA includes all gains and losses recognised during the year.

The notes form part of these accounts.

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Balance Sheet As at 30 September 2023

2023 2022
Notes £ £
Current assets
Debtors
Cash at Bank		 9 6,448
67,535		 2,889
79,349
73,983 82,238
Creditors: amounts falling
due within oneyear 10 (36,127) (32,049)
Netcurrent assets 37,856 50,189
Net assets 11 £37,856 £50,189
Funds:
Unrestricted funds
-
General fund		 12 35,937 49,439
Restricted Funds 12 1,919 750
Totalfunds 12 £37,856 £50,189

These accounts have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

Approved by the directors and trustees on 20 June 2024 and signed on their behalf:

Karin Maschler Chair and Trustee

The notes form part of these accounts.

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Notes to the financial statements for the year ended 30 September 2023

1. Accounting policies

General information and basis of preparation

Volunteer Centre Tower Hamlets is a private company limited by guarantee registered in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the “Reference and Administrative Information” on page 2 of these financial statements.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going concern basis under the historical cost convention. The financial statements are presented in sterling which is the functional currency of the charity.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Income recognition

ltems of income are recognised in the financial statements when all of the following criteria are met:

Income from performance related grants and contracts is recognised as the charity earns the right to consideration through delivery of the specified services.

Expenditure recognition

Expenditure is recognised once there is a legal or constructive obligation to make payment to a third party, it is probable that settlement will be required and the amount can be measured reliably. Expenditure includes all irrecoverable VAT which is included as part of the relevant cost.

Expenditure on charitable activities comprises those costs associated with the delivery of the various activities and services for the charity's beneficiaries.

Expenditure includes those costs of a direct nature which can be allocated to a specific activity and also includes indirect costs, including governance costs that do not relate to a specific activity but are necessary to support those activities. Support costs are apportioned to each activity on the basis of staff time.

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Notes to the financial statements for the year ended 30 September 2023

1. Accounting policies/contd...

Fund accounting

Unrestricted general funds are freely available for use in furtherance of the objects of the charity and which have not been designated for specific purposes.

Designated funds are unrestricted funds set aside by the trustees for particular purposes.

Restricted funds are funds which can only be used in accordance with specific restrictions imposed by the donor or which have been raised for a particular purpose.

Tangible fixed assets and depreciation

Tangible assets costing more than £1,500 are capitalised and are stated at cost less accumulated depreciation.

Leases

Operating lease rentals are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Pensions

The charity operates a defined contribution pension scheme. Contributions payable to the charity’s pension scheme are charged in the Statement of Financial Activities in the year to which they relate. The charity has no liability under these schemes other than for the payment of those contributions.

Debtors and creditors

Debtors and creditors with no stated interest rate and which are receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

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Notes to the financial statements for the year ended 30 September 2023

2. Income from Charitable activities

Unrestricted Restricted 2023 2022
£ £ £ £
LB Tower Hamlets:
Voluntary SectorChildren & 45,309 - 45,309 42,492
Youth Forum (Third Sector
Co-ordinator)
Infrastructure and Capacity
Building Grant - 75,000 75,000 81,000
COVID 19 Volunteering Hub 25,000 - 25,000 50,000
Holiday Activities and Food
Programme		 - - - 500
Total LBTowerHamlets 70,309 75,000 145,309 173,992
City Bridge Foundation - 5,964 5,964 -
East London Business
Alliance (MOPAC) . - - - 10,000
Other Consultancy Income 4,900 - 4,900 2,625
Training and
Other Income		 468 - 468 424
Total £75,677 £80,964 £156,641 £187,041

Section 37 Statement: During the period, the grants receivable from LB Tower Hamlets were expended on various projects for the purposes for which they were given.

Of the LB Tower Hamlets income of £173,992 recognised in 2022, £92,992 related to unrestricted funds and £81,000 to restricted funds.

The remainder of the charitable activities income of £13,049 recognised in 2022 related to unrestricted funds of £13,049 and restricted funds of ENIL.

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Notes to the financial statements for the year ended 30 September 2023

3. Cost of charitable activities

Direct Support Total Total
Costs Costs 2023 2022
Volunteering services £152,915 £16,059 £168,974 £182,237

Of the £168,974 (2022 - £182,237) expenditure recognised in 2023, £89,179 (2022 - £98,691) was charged to unrestricted funds and £79,795 (2022 - £83,546) was charged to restricted funds.

4, Analysis of direct costs

Analysis of direct costs
Total
2023		 Total
2022
£ £
Wagesand salaries 145,794 162,188
Activity costs 5,801 3,990
Staffand volunteer training and recruitment 975 993
Travel costs 295 116
Volunteer expenses 50 4
£152,915 £167,291

5. Analysis of support costs

Analysis of supportsupport costs
Total Total
2023 2022
£ £
Office costs 4,892 4,933
IT support 2,899 3,165
Computer and website costs 1,270 667
Other costs 1,158 1,221
Governance costs (note 6) 5,840 4,960
£16,059 £14,946
Governance costs
Total Total
2023 2022
£ £
Audit and accountancy fees 1,950 1,680
Accountancy fees 3,800 3,250
AGM/Annual review 90 -
Trustee meetings and training - 30
£5,840 £4,960

6. Governance costs

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Notes to the financial statements for the year ended 30 September 2023

7. Net income/(expenditure)

The net income/(expenditure) for the year is stated after charging:

2023 2022
Auditors’ remuneration— Audit £1,950 £1,950
Operating lease rentals ENil ENil
8. Staffcosts 2023 2022
£ £
Wages and salaries
Social Securitycosts
Pension Costs		 131,981
7,733
6,080		 147,711
8,845
5,632
£145,794 £162,188

No employee received total employee benefits (excluding employer pension costs) of more than £60,000 in either year.

The total employee benefits received by Key Management amounted to £54,325 (2022: £55,107). Under FRS 102, employee benefits include gross salary, employer's NIC, employer's pension contributions and benefits in kind.

The average number of employees during the period, calculated on the basis of full time equivalents was 3.2 (2022: 3.7). The average monthly number of employees was 5 (2022: 5.5).

9. Debtors 2023 2022
Duewithin oneyear £ £
Prepayments
Other Debtors		 484
5,964		 389
2,500
£6,448 £2,889

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Notes to the financial statements for the year ended 30 September 2023

----- Start of picture text -----
10. Creditors: 2023 2022
Amounts falling due within one year: £ £
Deferred income 31,772 23,930
Accruals 4,355 8,119
£36,127 £32,049
----- End of picture text -----

All of the £23,930 deferred income brought forward from 30 September 2022 was released to income in the year ended 30 September 2023. Deferred income relates to funding received but for which the performance conditions will be met in the next accounting period.

11. Analysis of net assets between funds

Unrestricted Restricted Total
£ £ £
Current assets 72,064 1,919 73,983
Current liabilities (36,127) - (36,127)
At 30 September2023 £35,937 £1,919 £37,856
Comparative information forthe analysis of net assets between funds is as follows:
Unrestricted Restricted Total
£ £ £
Current assets 81,488 750 82,238
Current liabilities (32,049) - (32,049)
At30September2022 £49,439 £750 £50,189

Comparative information for the analysis of net assets between funds is as follows:

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Notes to the financial statements for the year ended 30 September 2023

12. Movement in funds

Movement in funds
At Transfers At
4 Oct Incoming Quigoing between 30Sept
Restricted Funds 2022 funds 2023
£ £ £ £ £
LBTH- Infrastructure
City Bridge Foundation
London Plus— laptops		 -
-
750		 75,000
5,964
-		 (74,858)
(4,937)
-		 -
-
-		 142
1,027
750
Total restrictedfunds 750 80,964 (79,795) - 1,919
Unrestricted funds
General funds 49,439 75,677 (89,179) - 35,937
Total unrestricted funds 49,439 75,677 (89,179) - 35,937
Totalfunds £50,189 £156,641 £(168,974) ENil £37,856

A description of each restricted fund is given in the Trustees Annual Report, where relevant .

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Notes to the financial statements for the year ended 30 September 2023

12. Movement in funds.../cont’d

Comparative information for the net movement in funds is as follows:

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |At|Transfers|At| |1|Oct|incoming|Outgoing|between|30|Sept| |Restricted|Funds|2021|funds|2022| |£|£|£|£|£| |LBTH-|Infrastructure|-|81,000|(82,046)|1,046|-| |Cornerstone|1,500|-|(1,500)|-|-| |London|Plus —|laptops|750|-|-|-|750| |Total|restricted|funds|2,250|81,000|(83,546)|1,046|750| |Unrestricted|funds| |General|funds|43,135|106,041|(98,691)|(1,046)|49,439| |Total|unrestricted|funds|43,135|106,041|(98,691)|“|49,439| |Total funds|£45,385|£187,041|£(182,237)|ENil|£50,189|

----- End of picture text -----

13. Taxation

As a registered charity, Volunteer Centre Tower Hamlets is not liable to tax on its charitable activities.

14. Related Party Transactions

Trustee meeting refreshments and training costs amounting to ENil (2022: £30) were paid on behalf of nil (2022 : 6) trustees.

The trustees received no remuneration in 2023 or 2022.

There were no other related party transactions in 2023 or 2022,

15. Contingent Assets

Total grant funding awarded as at 30 September 2023 but not yet received and recognised as income due to the recognition criteria not being met amounts to £503,189.

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