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2022-03-31-accounts

OSMANI TRUST LIMITED (A COMPANY LIMITED BY GUARANTEE)

REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

Company No: 6867755 Charity No: 1129282

ABACUS PARTNERS (LDN) LLP

CHARTERED CERTIFIED ACCOUNTANTS & STATUTORY AUDITORS UNIT A, ABBOTTS WHARF 93 STAINSBY ROAD LONDON E14 6JL

OSMANI TRUST LIMITED (A COMPANY LIMITED BY GUARANTEE)

CONTENTS

For The Year Ended 31 March 2022

Page
1. Legal And Administrative Information 1
2. Trustees’ report 2 – 21
3. Auditors report 22 - 25
4. Statement of Financial Activities 26
5. Statement of Financial Position 27
6. Statement of Cashflows 28
7. Notes to the Financial Statements 29 – 34

LEGAL AND ADMINISTRATIVE INFORMATION

Company number: 6867755 Charity number: 1129282

Directors/Trustees Imadul Islam (Chairperson)
Sati Aminur Rahman (Secretary)
Shaynul Khan (Treasurer)
Sirajul Islam
Syed Tohel Ahmed
Nadia Ali
Akrom Miah
Executive Director Shafiur Rahman
Principal and Registered Osmani Centre
Office 58 Underwood Road
London
E1 5AW
Auditors Abacus Partners (Ldn) LLP
Statutory Auditors
Unit A, Abbotts Wharf
93 Stainsby Road
London E14 6JL
Banker HSBC
1-3 Bishopsgate
London EC2N 3AQ

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TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2022

STRUCTURE GOVERNANCE AND MANAGEMENT

Governing Instrument

The Company/Charity is constituted as a company limited by guarantee, incorporated on 02 April 2009, and is registered as a charity with the Charity Commission. The company’s/charity’s objects and regulations are regulated by the Memorandum and Articles of Association.

Structure and management

The members of the Company/Charity consisted of seven Directors/Trustees. Ongoing away days, information sharing, seminars and training sessions ensured members of the Board of Trustees understand their legal duties and obligations as Directors and Trustees.

The Board of Trustees are responsible for the strategic direction and policies of the Trust. The Company/Charity is organised with a committee (Management Committee) to oversee overall activities and one of the committee members is nominated as Chairperson, to monitor the day to day running of the Company/Charity.

OBJECTIVES

The Company/Charity objectives are;

ACTIVITIES AND PUBLIC BENEFIT

The Trustees confirm that they abide by the Charity Commission’s general guidance on public benefit complying with Section 4 of the Charities Act 2011, to have due regard to public benefit in pursuance of its objectives and activities. There have been no serious incidents to report in 2021-22.

Through its provisions, Osmani Trust seeks to address issues impacting the community including substance misuse, racial tensions, criminality and anti-social behaviour, territoriality and gangrelated violence, unemployment and overcrowding, lack of training and employment opportunities. There is also a lack of social, physical, and spiritual education of young people and their families. Socially excluded members of the community are also a growing issue. It also places strong emphasis on the health and social welfare of local people. Osmani Trust works with ordinary people helping them to do extraordinary things. Our main activities and beneficiaries are described below.

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Young Peoples’ Services

Youth Space

Youth Space delivered the youth programmes in the Northwest quadrant of Tower Hamlets from our flagship Osmani Youth Centre in Whitechapel as well as from the Minerva Centre, Bethnal Green.

We delivered 8 youth sessions a week from Osmani Centre and Minerva Centre, with 3 sessions dedicated to girls only. Activities included

Accredited and Non-accredited training (12+ sessions)

First Aid, Introduction to youth work, Sports Leadership, CBT Motorcycle training, ASDAN: Leadership Short Course

- Short Workshops (30+ sessions)

Personal safety/ Knife awareness. Criminal law/ stop and search, Bullying/ social media, Anger/ Resilience , Mindset/ Goal setting, Identity/ values, Housing/ Finance, Digital Arts, Creative Art/ Poetry , Body confidence and self-esteem, Culture/ Black history, Grooming and SRE, Further education and training options

Indoor multi-sports sessions, Detached sports sessions, Mixed martial arts, Swimming, Cycling, Boxing, Girls’ sports sessions, Dance, Healthy cooking, Emotional well-being, Exercise sessions in the park

Community events and celebrations

5-a-side borough wide football tournament, Iftar Gatherings, Youth Space open day at Minerva, Community barbeque in Spitalfields and Bethnal Green.

During the half-term holidays, we increased our number of sessions from both sites and offered fun packed programmes with additional recreational activities including a 3-day youth residential. During the summer holidays, we provided activities including lunch to 167 young people whose families were on low income.

Last year our focus was on developing young leaders and addressing the negative youth culture around serious violence and the drug misuse/dealing crises in the community. As a result, 14 young people completed Level 1 in Youth Work and more than 35 young people completed a basic First Aid course with particular emphasis on dealing with knife wounds. We delivered a whole range of workshops that helped develop resilience and helped young people to learn through reflective practice.

The Youth Space has also been involved in reaching out to young people away from the catchment where our trained youth workers delivered workshops to youth groups through our wide connection in the community. Much of these workshops were tailored specifically to the needs of the target groups and in most cases themed around developing awareness around grooming, exploitation, drugs, gangs, serious violence and building resilience.

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Key outputs:

2021/22 No. of YoungPeople
Contact 853
Participants 458
Recorded Outcomes 217
Accredited Outcomes 48

Amaal Girls

The Amaal Girls works with young women aged between 11and 19 (up to 25 with SEND). Amaal delivers a range of activities and opportunities for girls in a culturally sensitive environment with the aim of encouraging more young women into mainstream provision such as education, training, employment and community work. Many young girls from Minority Ethnic backgrounds are deprived of opportunities available to them due to barriers and lack of information and encouragement.

It has been a roller-coaster year for the Amaal girls’ group. It has been a case of being very sensitive and accommodating towards young peoples’ needs as they and their families have been affected by COVID-19. We also needed to be creative and thrilling in our delivery, finding new ways of working in a time dominated by remote online services. We were able to host a whole range of activities online from completing accredited short courses to weekly challenges, competitions and keep fit sessions through online platforms. We also started a member’s forum where girls can confidently talk about their worries during the COVID-19 lockdown, it encouraged girls not to feel isolated with their problems and were able identify support both within the group as well as being introduced to news services within the borough.

Although it was impossible to do any large-scale projects this year, staff maintained a strong connection with young girls whilst steadily increasing in the number of members for Amaal.

Total number of girls who accessed youth club sessions: 67

Total number of girls who achieved an accredited outcome: 12

Total number of girls who achieved a recorded outcome through workshops: 25

Summer Detached Youth Service

Osmani Trust delivered a detached youth services from three estates: Chicksand Estate, Collingwood Estate and Middleton Green in Tower Hamlets. The programme provided sporting opportunities for young people and created an environment for youth workers to engage and understand the needs of the young people better. From this, the youth workers were able to signpost young people to their closest youth centres and referred many to our in-house services for employment support and facilitated several group excursions for each neighbourhood.

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Osmani Trust hosted each neighbourhood with their community barbeque that was largely delivered by the support of volunteers recruited on the programme with residents also helping out. It was the first time young people and residents came together like this since the COVID-19 constraints were lifted.

On the back of a very successful summer programme, we continued with weekly outreach and detached sessions in all 3 neighbourhoods.

On the back of the detached work, a project targeting Somali young people was created. We worked with a large group of Somali young men who fell in the NEET category. We offered sporting activities, workshop, training to support into employment. This was successful but needed long term work to have a lasting impact.

Violence Reduction Services

Tower Hamlets Island Community Network (THICN)

Osmani Trust led a new consortium of partners to launch THICN on the Isle of Dogs, Tower Hamlets as part of the new 2 year GLA MyEnds programme funded by the London Mayor’s Office for Policing and Crime (MOPAC) Violence Reduction Unit (VRU) to address youth violence at local neighbourhood levels. THICN is led by Osmani Trust, in partnership with Spotlight and Streets of Growth. The THICN board is made up of key stakeholders including LBTH, THCVS, ELBA, Met Police, The Utilize Project, local young people and residents’ representatives.

The THICN partners, along with partners in the council, police and wider voluntary sector aims to:

A total of 283 residents participated in an online survey via the THICN website to highlight priorities and hotspots.

In the first six months of delivery 1323 young people engaged in activities and services, 2 new youth facilities were opened on the Isle of Dogs, 11 community events were held, 416 hrs of detached youth work were delivered, and 16 new youth workers were employed in the area. 3 gang conflicts were mitigated through mediation and community resolutions, 42 local organisations were engaged, 122 young people completed accredited training, and 47 young people accessed jobs.

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London Mayor Mr Sadiq Khan Visit to Osmani Trust

In February 2022, London Mayor Mr Sadiq Khan visited the Osmani Trust in Blackwell Reach, Tower Hamlets to see how THICN transforms young lives, steering them away from the violent crime epidemic. He met with young people, staff and volunteers, to hear first-hand how they were tackling violent crime.

Changing Futures Peer Programme

Changing futures focuses on young people who are affected by challenges such as ASB and violence. It is a detached programme working proactively in the community identifying ASB Hotspots and high-risk young people and engaging those peer groups in productive activities, as well as forming close relationships within the community to reduce flagged challenges. We have looked at the areas in Tower Hamlets and identified hotspots where young people are involved in ASB, knife crime, and drug-related abuse along with other crimes in Stepney ward and Bethnal Green ward. In three months of working on this programme, we have successfully managed to register 84 young people onto the changing futures program. After their initial assessments, we have found that the majority are known to the police and have been given ASB warnings.

Through liaising with local community members, we have identified three sites in the locality where these young people are based and have managed to secure the sites through TLA’s and LBTH where we will be running sessions that need indoor facilities. We have also engaged residents so they can be involved in working with young people.

We have already managed to de-escalate friction within the local areas between different sets of young people who are involved in the programme and those who are not. Without these interventions and mediation, there would have been a continuation of tit-for-tat attacks and stabbings. Through the detached work and interventions, we gained an insight into external groups within the area that they have outstanding conflict with.

The provision of detached football sessions along with boxing sessions has also allowed us to create a bond which has opened up communication between young people and improved their social skills.

Outputs

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Second Chance Programme

The Second Chance programme (SCP) aims to stop young people aged 13 to 21 from getting involved in drug dealing, drug related violence and other criminal activities. This programme is supported by Tower Hamlets Council ASB team, MET Police, Local Schools and PRU’s as well as other statutory services. The SCP is rooted in the new government diversion scheme which suggested that short term prison sentences often lead to the offender committing more crimes as opposed to engaging with a diversionary scheme. Over the past two years 89 out of 94 young people who have been referred, have not returned to dealing drugs after 6 months of completing the programme.

This year SCP was shortlisted as a finalist for the Children and Young People Now Awards 2021. To celebrate this success, young people, SCP mentors, and Osmani Staff worked together and facilitated the SCP “Showcase” Event for partners and stakeholders. Amongst the invitees were representatives from GLA, Met Police, Tower Hamlet Council, Local Schools, and Community Organisations.

YP from SCP also created their own project for the community. The project designed by the YP involved gathering children’s and baby clothes and distributing this via Osmani Trust's ongoing Food Bank programme. The impact of the project was not only felt by residents but also the young people who mostly did not see how they can positively contribute to society before coming onto the programme.

A cohort of YP also went away on a retreat to complete their course with us and to encourage them to start a new strand of work where they become peer mentors. SCP facilitated parent's seminars on grooming and exploitation in various settings with a total of 137 parents and carers attending. The demand for parents/carers seminars is high. We have been approached by other community organisations as well as parent groups to deliver further workshops/ seminars.

Staff from SCP were invited by the Young Londoners Fund to present and lead workshops on the study about detached youth work and outreach to practitioners around London. SCP staff was a panellist in an event for Young Londoners Fund Networks exploring the role of mentoring and trusted relationships in young people’s lives. SCP staff were approached as a standout programme by LBTH YOS to contribute towards evaluating the YOS services with the help of the SCP client feedback. YP from SCP joined in and helped facilitate and lead a football tournament that saw over 150 young people participating in collaboration with other young people from MyEnds (VRU) projects.

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School Resilience Programme (SRP)

Youth Intervention Officers (YIO) aimed to promote the service to other organisations and schools. YIO delivered to 103 young people this year. SRP exceeded its target to engage young people and deliver workshops. We had high retention of young people in graduating from the programme. We were informed by the schools that approx. 95% of participants on SRP would complete school and take their GCSE exams.

YIO were able to deliver 88 detached sessions over the year. This allowed YIO to build relationships with local young people and be responsive to local conflicts between young people.

SRP has had challenges in engaging with families. This was due to families feeling slightly judged and shamed to be involved in the service due to the context of the circumstances of their child.

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Workshops

YIO delivered to six schools across the borough. The target group was years 9 and 10. The project delivered 103 workshops. There was a positive response from pupils throughout the programme. 78% benefited from the programme with 82% saying they enjoyed the workshop. 80% learnt how to manage their own actions. 84% became more aware of the impact of their actions. 67% learnt to manage their anger and learned the different choices available when engaged in challenging situations. 80% learnt how violence affects their personal life and also felt confident to resolve conflicts.

Mentoring

YIO also delivered one-to-one mentoring sessions particularly to those pupils who were at higher risk of exclusion and involved in violence and those who have been identified for additional support. Mentoring was provided throughout the programme.

Detach

YIO was able to map and identify hot spots with prolific incidents of violence. YIO was allocated to work in those specific areas to build relationships with local young people. Also, YIO was able to respond to 18 violent incidents that were taking place after school and managed to resolve them.

- Langdon Park School Drop down Day

In addition, SRP delivered six workshops to Langdon Park School. The workshops explored triggers, facts and interpretations and the value of education. SRP delivered to 167 pupils from years 10 and 11. There were several organisations on the day delivering other workshops. Osmani Trust received the highest feedback score for their workshop. 98% of students strongly agreed the session was educational and learnt new information and felt the information will benefit their own life and future.

Summer Resilience Programme

YIO organised the Summer Resilience Programme in August 2021. We had 10 young people. The course was in partnership with Osmani Trust and Leap and was aimed at targeting new young people from the local community to attend. Young people felt they had a better understanding of their own relationship to conflict, knew more tools and strategies they could use in conflict situations and felt their communication skills had improved.

Breaking the Cycle

The ‘Break the Cycle’ (BTC) project in partnership with LBTH Early Help and Youth Justice Service (YJS) is aimed to reduce youth violence via early intervention. It is a mentoring programme for young people (aged 12-19) and their families who may be experiencing issues around education (behaviour issues, etc.), involved or suspected of substance abuse, involved in youth violence or co- offending with others. The project has been providing regular 1:1 mentoring to young people and

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their families to identify and achieve long-term their goals and raise aspirations. From September 2021 to March 2022 the project engaged with a total of 33 young people and families. Through one- to-one mentoring, closed-group workshops, public workshops for youth and seminars for parents and the wider community, we managed to address some of the main issues in the locality and the deeper root causes. We discussed knife crime, drugs misuse, healthy relationships, social media and other related topics. In the one-to-one sessions we managed to delve deeper into the problems young people faced such as poverty, depression, parenting, diet, excessive screen time and more.

Outcomes - Young People

We also tracked changes in family behaviours which included indicators about siblings, older generations and external engagement.

Criminal Justice

The Bridge Programme

The Bridge Programme works with London Probation to create an enhanced mentoring service for offenders who recently served a prison sentence or are involved in the criminal justice system. The service users were predominately from the Bangladeshi community but also some from other BME backgrounds aged 18 to 30 years olds from Tower Hamlets.

The target of 50 service users to mentor was exceeded. Our referrals this year were more complex as a large number of service users were prolific offenders who have been caught in the revolving door in and out of prison, so our mentors had to spend much more time and effort on each individual.

The mentoring programme supported individuals with a pathway out of crime and resettlement back into the community. The programme detailed screening and assessments factored in various aspects of the individual’s personal and social life to prioritise needs. It was clear from the initial engagement that the clients needed a lot more than ETE, as some suffered from

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mental health, gang violence, family issues, and fear of death.

Our mentors spent an average of 10 sessions building a close rapport with the mentees, by earning their trust and finding out more about the individual’s lives. Our experienced mentors were able to advise and listen to the needs of the individuals and although most were referred due to drugs and violence, they understood every case is different and needed a different approach.

Whilst working closely with clients our mentors explored different avenues by liaising with new organisations in trying to offer a wider range of training and vacancies. we also supported with updating CVs, interview preparations, and assistance with cover letters for job applications.

Outputs

In total, the Bridge Programme mentored a total of 51clients referred from Tower hamlets probation Service. A total of 339 Mentoring sessions took place with these clients.

Outcomes

After a few meetings, our mentors were able to understand their clients and their needs and help support them in accommodation, education, and mainly stable employment.

100% success from re-offending whilst on the mentoring programme. More than 50% of the cases were closed within 3 months of engagement as clients made significant progress identified from re- education sessions and positive feedback from probation officers, concerned family members and other professionals. Some cases were also closed due to successful securement of employment, training or return to education.

1. Access to employment 13
2. Access to training and education 9
3. GP Referral 1
4. Housing support referral and engagement 2
5. ID securement 4
6. Support to set up Bank accounts 5
7.Benefits and Job Centre engagement 5
8. Substance misuse service referral and engagement 1

Shaathi Family Mentoring Proeramme

Over the past year, the Shaathi Family Mentoring project overcame various challenges that arose for the project in the Covid 19 pandemic period, including retention & recruitment of volunteers. We were able to pick up on referrals and begin taking on cases fully, including with home visits.

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However, in this new post Pandemic period, we also found alongside face-to-face interface work, we were also able to do some online sessions. Our parenting workshops continued to be effectively delivered on an individual case-by-case basis (using evidencebased models) alongside tailored and succinct workshops which helped support families in better understanding the issues their child was facing, implementing suitable parenting strategies, and helping them to explore how their relationship could be improved with more positive and engaging interactions with their children. We were also able to refer families for further support including accessing targeted parenting courses.

We helped parents feel less overwhelmed and anxious, gain access to relevant services that meet their needs, advocated on their behalf when needed and strengthened their relationship with their child. We empowered parents to acknowledge their personal strengths and accomplishments, better manage and treat their poor mental and/or physical health, gain control over their debts and other stress factors, and enabled them to regain their own personal sense of identity.

Young people within those families, because of being on the programme, have improved their school attendance and academic performance, their understanding of online safety, a stronger sense of their own identity and increased motivation and clarification of their prospects. Our young people now continue their journey of self-belief and self-love, allowing themselves to be open to happiness and success.

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Education & Employment (E&E)

E&E’s primary objective is to support people who are unemployed and require training, education, and support with employment.

We deliver accredited and non-accredited qualifications, provide Information Advice & Guidance, create Individual Learning Plans, SMART targets, employability workshops, and courses to help individuals progress. We inspire and empower individuals to achieve their desired goals.

Greater London Authority (GLA), Adult Education Budget (AEB), European Social Fund ESF: Education & Training

This is our third year of delivering accredited qualifications for people who live in Central London. The priority was to support learners who are 19yrs and over, unemployed, and have the right to work and live in the UK.

We delivered a Door Supervisor Security Course to residents from Camden with a 100% achievement rate.

We had a very successful year, especially in the context of following earlier restrictions and lockdowns due to Covid.

E&E continues to strengthen its partnerships and worked with WorkPath, Idea Store, East London Business Alliance, Broadgate Estate, LLC, and LTEN amongst many others.

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Health and Sports

OC Active

OC Active resumed delivery of a wide range of sports programmes, following the lifting of Covid19 related restrictions in the year. The women’s badminton and basketball clubs, youth football, and seniors’ fitness programmes were able to restart with increased participation.

Jack Petchey Awards

Osmani Trust is grateful for the support it receives through Gold Level of the Jack Petchey Foundation Achievement Award scheme. This year young members were chosen for achieving something special. These deeds varied from helping someone else, overcoming an obstacle or trying their best and making progress.

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Osmani Centre

The Osmani Centre provides a great contemporary location for our offices as well as a youth and community centre. The centre also has training/meeting rooms, fitness studio, multi-gym space and changing rooms. Other facilities include a large seminar hall, catering kitchen and a roof garden. Most of these facilities are also available for hire to organisations and the local community.

The continuation of local lockdown restrictions, resulting from Covid-19, saw a dramatic decrease in the use of the Osmani Centre. Despite this, we catered to over 15,000 users from a wide range of public, private and community organisations as well as local residents for community events, meetings, training, seminars, sports and fitness classes, and access to our Foodbank, which was operating inside the Osmani Centre.

A variety of user groups made use of the centre’s facilities. Women, people with disabilities and their families, adults with mental health, parents, the unemployed, elderly groups and various BAME groups used Osmani Centre with great joy.

Youth Facilities

The Osmani Centre dedicated floors for youth services, comprising a modern fully equipped youth centre, Active Studio, multi-gym space, training rooms and kitchen facilities.

Community Space

The Osmani Centre is a real community hub that provides a great venue for meetings, classes, seminars, fitness sessions, community events and celebrations for local communities, charities, social enterprises, businesses and the public sector.

Osmani Food Bank

The previous year’s London Community Response fund enabled us to provide support for financially troubled families including provisions for a foodbank during and following the Covid-19 period.

Unfortunately, the funding ended in early 2021, however, the demand for such services was an ever- increasing need. As a result, we devoted a campaign to raise funds in order to continue the services. Together with our fantastic volunteers and partnerships with donating organisations we served over 415 households, benefiting around 2,000 people throughout the year.

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TRUSTEES REVIEW

Osmani Trust has faced and tackled many challenges over the years and the dominating effects of the Covid-19 pandemic pushed its sustainability and strategy to the extreme in the last two years. However, as we finally emerge from the restrictions of the pandemic, we look forward to, yet again, fully responding to the needs of young people and their families. The Osmani Trust countered these challenges with determination and character, built from 40+ years of experience. We phased in our workforce from off-site delivery to a hybrid pattern of work and then gradually returned to pre-pandemic ways of working. We continued to adapt and deliver to ensure vital services to young people and their families were not disrupted. Our frontline services have supported thousands of young people and we are in a good position to continue supporting thousands more.

Osmani Trust receives income from various sources e.g. statutory bodies, local and central Government, trusts and corporates. In addition, it raises unrestricted income from hiring rooms and facilities within its building (Osmani Centre). Interest in hiring rooms had drastically dwindled during the pandemic, however, since the Government’s lockdown restrictions were lifted in July 2021, we saw renewed confidence in the public, venturing outside and meeting in public places.

Osmani Trust enters the new year with optimism as some large grants and contracts run until 2024 and some beyond. These secured grants and contracts along with other confirmed and probable income will provide security and assurance of continuing and expanding services. Our fundraising team, along with the Executive Director, have consolidated and expanded current services, such as the Violence Reduction Unit’s grant from London Mayor’s Office.

The Trustees are, therefore, of the opinion that the accounts should be drawn up on a going concern basis.

Strategic Review

The Trust’s Strategic Review 2021-24 forms the basis of its operational plan to consolidate and sustain itself and its future goals. Plans included:

Projects/Services

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Strategic Review 2024-27 will form the basis of future operations and sustainability.

Human Resources

Osmani Centre

Fundraising sustainability. and development

Partnerships and networks

PR promotions and media

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Finance objectives

Financial Review

Results for the year

The Statements of Financial Activities shows a net surplus of £189,316 (2021 net surplus was £68,351) with positive Balance Sheet net assets of £311,079 (2021 was positive £121,763).

Reserves Policy

The Management Committee (MC) has established a reserves policy as part of its plans to provide long term support to essential services, building maintenance and staff.

The MC calculates the reserves as that part of the charity’s unrestricted income funds that is freely available after taking account of designated funds that have been earmarked for specific project use. Though the present level of reserves falls short of this target, the strategy is to continue building through planned operations.

The reserves currently stand at £164,308 and are calculated as follows:

Total unrestricted funds of £164,308
Less designated funds (£0)
Total reserves £164,308

The MC intend that, where appropriate, designated funds are spent within a reasonable period of receipt and therefore foresee a need only to maintain reserves sufficient to

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provide certainty of funding for essential services. Therefore, the minimum target for reserves is equivalent to 3 months operational costs, which is approximately £195,000.

The minimum reserve requirement is calculated as follows:

Requirement for essential services £80,000

Requirement for staff £90,000

Requirement for other charitable expenditure £25,000

Total reserve requirement £195,000

The reserves held are slightly below target due to the Trust being unable to generate the required surplus unrestricted funds in recent years. One of the key reasons being that grant funders are more willing to fund direct project costs (restricted) rather than general overheads or unrestricted budget headings. It is anticipated this will be recovered through increased capacity in fundraising and diversifying income streams, particularly increasing income from public contracts and unrestricted funding sources next year.

The MC are required to review balances held in designated funds, if any, to determine whether these funds are likely to be committed in the near future and the extent to which there is a continuing need identified for any particular designated fund(s). The MC will undertake a review of designated funds to ensure that they are all active. Any inactive funds will be closed, and the funds transferred to reserves.

Fundraising Activities

Osmani Trust’s funding is received from hiring of its rooms, social enterprise, private and public contracts, and grant making bodies. It partakes in its own fundraising activities and has a complaints policy.

Risk Management

The Management Committee conducted a review of major risks to which Osmani Trust is exposed. A risk register is updated at least annually, where appropriate, systems or procedures have been established to mitigate risks. Significant external risks to funding have led to the development of a strategic plan which will allow for the diversification of funding and activities. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with health and safety of staff, volunteers, clients, and visitors to the Centre. These procedures are periodically reviewed to ensure that they continue to meet the needs of Osmani Trust.

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Senior Managers and Trustees have addressed prior year deficits by restructuring the organisation, close control of expenditure, efficient process of credit control and fundraising efforts. Going forward, Osmani Trust will continue to operate on a budget that reflects the need to build a minimum level of reserves.

DIRECTORS/TRUSTEES’ RESPONSIBILITIES

The Trustees, who are also Directors of Osmani Trust Limited for the purposes of Company Law, are responsible for preparing the Trustees’ Annual Report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (UK GAAP applicable to smaller entities).

Company/Charity law requires the Trustees to prepare financial statements for each 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, 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 and Charities Act 2011. 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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Independent Auditors

Abacus Partners (Ldn) LLP are deemed to be reappointed in accordance with an elective resolution made under Section 386(1) of the Companies Act 1985 which continues in force under the Companies Act 2006. These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 and the Financial Reporting Standard for Smaller Entities (effective January 2015) relating to small companies.

This report was approved by the Directors/Trustees on 29[th ] November 2022 and signed on its behalf by:

Mr Imadul Islam (Chairman)

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INDEPENDENT AUDITOR'S REPORT TO THE DIRECTORS AND TRUSTEES OF OSMANI TRUST LTD

Opinion

We have audited the financial statements of Osmani Trust Ltd for the year ended 31st March 2022, which comprise the Statement of financial activities, the Statement of Financial Position, and Statement of Cash Flows, and the related Notes, 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).

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.

In our opinion the financial statements:

• give a true and fair view of the state of the charitable company’s affairs as at 31st March 2022, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

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.

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INDEPENDENT AUDITOR'S REPORT TO THE DIRECTORS AND TRUSTEES OF OSMANI TRUST LTD

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

• the Directors’/Trustees’ have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charitable company’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.

Other information

The other information comprises the information included in the trustees’ annual report other than the financial statements and our auditor’s report thereon. The Directors/Trustees are responsible for the other information. 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 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:

• the Trustees Annual Report, including the Strategic Report, has been prepared in accordance with applicable legal requirements.

23

INDEPENDENT AUDITOR'S REPORT TO THE DIRECTORS AND TRUSTEES OF OSMANI TRUST LTD

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 Strategic report and the Trustees Annual 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:

• proper and adequate accounting records have not been kept by the Company, or returns adequate for our audit have not been received from branches not visited by us; or

Responsibilities of Trustees

As explained more fully in the trustees’ responsibilities statement, set out on page 21, 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.

24

INDEPENDENT AUDITOR'S REPORT TO THE DIRECTORS AND TRUSTEES OF OSMANI TRUST LTD

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.

Based on our understanding of the Company and sector, we have identified the principal risks of non-compliance with laws and regulations, and revenue recognition, and considered these in our assessment. We have considered the internal control environment, and the risks of management override and spurious expenditure. Audit procedures performed included, enquiry of management, inspection of supporting documentation, and testing a sample of regular and irregular entries posted during the year.

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 is report is made solely to the charitable company’s Trustees as a body, in accordance with Chapter 3 of Part 16 of the Companies Acts 2006. Our audit work has been undertaken so that we might state to the charitable company’s Trustees 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 body, for our audit work, for this report, or for the opinion we have formed.

Mr Nur Ahmed Chowdhury (Senior Statutory Auditor) For and on behalf of Abacus Partners (Ldn) LLP

Statutory Auditor

Unit A, Abbotts Wharf

93 Stainsby Road

London E14 6JL

Date: 5[th] December 2022

25

OSMANI TRUST LIMITED

( A Company Limited by Guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME & EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2022

INCOME AND EXPENDITURE
Notes
INCOMING RESOURCES
Voluntary Income
5
Activities for Generating Funds
6
Charitable Activities Income
7
Other Income
8
Total Income
RESOURCES EXPENDED
Voluntary Costs
9
Fundraising Costs
10
Charitable Activities Costs
11
Administrative Costs
12
Total Resources Expended
NET INCOME /DEFICIT FOR THE YEAR
Fund as at 1 April 2021 (b/Fwd.)
Fund Movement
21
Fund as at 31 March 2022		 Total
Total
Unrestricted
Restricted
2022
2021
£
£
£
£
15,319
94,269
109,588
11,120
211,890
211,890
45,110
296,287
643,244
939,531
658,439
33,004
7,118
40,122
82,293
556,501
744,630
1,301,131
796,961
4,711
4,711
4,216
5,162
15,486
20,648
19,534
207,596
586,598
794,194
493,148
230,662
61,602
292,264
211,713
448,131
663,685
1,111,816
728,610
108,371
80,945
189,316
68,351
81,313
40,450
121,763
53,412
(25,376)
25,376
164,308
146,771
311,079
121,763

All the activities of the charitable company are from continuing operations.

The notes on pages 29-34 form part of these financial statements

26

OSMANI TRUST LIMITED

( A Company Limited by Guarantee) STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 31 MARCH 2022

Notes
Fixed Assets:
Tangible Assets
16
Current Assets:
Debtors & prepayments
17
Cash at Bank and in hand
Creditors:
Amount falling due within one year
18
Net Current Assets
Creditors:
Amount falling due more than one year
19
Total Net Assets
Funds
Unrestricted funds: General
21
Restricted Funds
21
Total Funds		 £
20,336
615,133		 Total
Total
2022
2021
£
£
124,031
78,544
39,865
262,367
302,231
220,013
226,049
82,219
350,081
160,763
39,000
39,000
311,079
121,763
164,308
81,313
146,771
40,450
311,079
121,763
635,469
409,420

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". They were approved by the board of directors and authorised for issue on 29 November 2022, and are signed on behalf of the board by:

Mr Imadul Islam Mr Shaynul Khan (Chairman) (Treasurer)

The notes on pages 29-34 form part of these financial statements

27

OSMANI TRUST LIMITED ( A Company Limited by Guarantee) STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31 MARCH 2022

2022 2021
£ £ £ £
Cash Outflow from Operating Activities
Operating Profit 189,316 68,351
Depreciation 15,708 16,298
(Gain)/Loss on fIxed asset disposal
Operating Profit Before Working Capital Chgs 205,024 84,649
(Increase)/Decrease in Debtors 19,528 25,843
Increase/(Decrease) in Creditors 196,584 132,396
Cash from Operations 421,136 242,887
Net Cash Generated from Operations 421,136 242,887
Cash Outflow from Investment Activities
Purchase of Tangible Fixed Assets (61,195) (5,331)
Fixed assets disposal
Net Cash inflow/outflow from investment Activities (61,195) (5,331)
Cash Outflow from Financing Activities
Capital grant released 7,118 7,118
Increase/(Decrease) of Loans (14,293) (7,175) (24,180) (17,062)
Net Increase/(decrease) in Cash and Cash Equivalent 352,766 220,494
Opening Cash and Cash Equivalents 262,367 41,873
Closing Cash and Cash Equivalents 615,133 262,367
Reconciliation:
Cash at bank and in hand 615,133 262,367
615,133 262,367

See Note 29 for analysis of changes in net debt

28

OSMANI TRUST LIMITED

( A Company Limited by Guarantee)

Notes to the financial statements for the year ended 31 March 2022

1 General information

Osmani Trust Limited is a registered charity, and a company limited by Guarantee, registered in England & Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. The address of the registered office is given in the company's charity information page on these financial statements.

2 Accounting convention

The charitable company is a public benefit entity as defined by FRS 102, and the financial statements have been prepared in accordance with the Statement of Recommended Practice for Charities, preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)- Charities SORP FRS 102, and the Companies Act 2006.

The financial statements are prepared on a going concern basis under the historical cost convention, and are prepared with pound sterling as the functional currency.

3 Accounting Policies

3.1 Going concern

Trustees' analysis of forecasts and projections for the 12 months from signing these financial statements, indicate that they should be prepared on the going concern basis. The Company has increased its unrestricted reserves year on year primarily due to more hall hire income following lifiting of lockdown restrictions. Furthermore, sufficient funding has been secured to appropriately deliver projects in the year ahead.

3.2 Income Recognition:

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

3.3 Expenditure recognition:

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.

3.4 Allocation of costs:

Costs are allocated between restricted and unrestricted funds in accordance with the resources allocated for the delivery of the activity they relate to, and the appropriate restricted or unrestricted income elements of those activities.

3.5 Support costs:

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel and governance costs which support the Trusts programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities.

3.6 Tangible fixed assets and depreciation:

Fixed assets for the charity use are capitalised at cost. They are stated in the accounts at cost less depreciation. Depreciation is calculated to write off the cost less the estimated residual value, over asset expected useful lives on the following basis:

Computer and Equipment: 20% Reducing balance. Furniture and Fixture 20% Reducing balance. Motor Vehicles 20% on cost.

3.7 Pensions:

The pension costs charged in the financial statements represent the defined contribution payable during the year, on the basis of a minimum statutory percentage of pensionable earning.

29

OSMANI TRUST LIMITED

( A Company Limited by Guarantee) Notes to the financial statements for the year ended 31 March 2022

3.8 Funds:

3.9 Tax:

Osmani Trust is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010, therefore meeting the definition of a charitable company for UK corporation tax purposes.

4 Incoming Resources

The incoming resources and surplus are attributable to the principal activities of the charity.

INCOME SUMMARY

5
VOLUNTARY INCOME:
Leather Seller Company Charitable Fund
Greater London Authority (Culture at Risk)
Barrow Cadbury
Tower Hamlets Homes - Summer Programme
Cornerstone 2
Street Games UK
Lloyds Foundation
Venture Helpers
Clothworker's Foundation
Misc. Donations incl. Foodbank
6
ACTIVITIES FOR GENERATING FUNDS
Rooms and facilities hire
Other Activities
7
CHARITABLE ACTIVITIES INCOME:
The National Lottery Community Fund
Tower Hamlets Homes
London Community Response Fund
HM Prison & Probation Service
LBTH Childrens services
Museum of London
Jack Petchey Foundation
LBTH-Youth Services
LBTH-Local Community Fund
LBTH - Holiday activities
London Learning Consortium
BBC Children In Need
GLA My Ends
GLA Young Londoners Fund
Power to Change Trading Income Support Scheme
Power to Change Community Led Recovery Scheme
Dr. Martens Foundation
City Bridge Trust
IR UK		 Unrestricted
Restricted
2022
£
£
£
7,500
7,500
400
7,600
8,000
1,688
32,062
33,750
24,486
24,486
3,000
3,000
-
-
3,108
3,108
750
14,250
15,000
1,873
12,871
14,744
15,319
94,269
109,588
Unrestricted
Restricted
2022
£
£
£
211,890
211,890
-
211,890
-
211,890
Unrestricted
Restricted
2022
£
£
£
9,558
181,594
191,152
-
-
96,194
96,194
58,916
58,916
-
2,550
2,550
83,079
83,079
3,598
68,357
71,955
12,018
12,018
38,281
38,281
1,937
36,813
38,750
11,774
223,697
235,471
3,275
62,225
65,500
-
-
1,000
19,000
20,000
450
8,550
9,000
16,666
16,666
308,061
631,470
939,531		 2021
£
1,000
8,000
2,120
11,120
2021
£
45,000
110
45,110
2021
£
54,006
12,250
55,116
75,358
75,085
2,172
2,250
91,908
71,955
4,258
72,081
42,000
25,000
75,000
658,439

30

OSMANI TRUST LIMITED

( A Company Limited by Guarantee) Notes to the financial statements for the year ended 31 March 2022

8
OTHER GRANTS/DONATIONS:
BeCommercial Grant
HMRC JRS Grants
Total Income
EXPENDITURE SUMMARY
9
VOLUNTARY COSTS:
Subscriptions
Volunteer costs
10
FUNDRAISING COSTS:
Staff Cost
11 CHARITABLE ACTIVITIES COSTS:
Salaries and wages
Employer's NIC
Employer's Pension
Sessional Coaches and Workshops
Activity Costs
Training & Accredited Learning
Consumables
Research and consultancy
Excursions and Residential trips
Insurance
Travel Expenses
IT & Web Expenses
Building Maintenance & Facilities
Publicity and Marketing
Telephone/Internet
Printing/Postage/Copying, and Stationery
Equipment costs
Rent
Depreciation on Furniture,Fittings and Equipment
Foodbank
Utilities
12
ADMINISTRATIVE COSTS:
a) Support Costs
Salaries and wages
Employer's NIC
Employer's Pension
Activities Cost
Sessional Workers
Bank Interest and Charges
Consumables
Building Maintenance & Facilities
IT Maintenance
Printing/Postage/Copying, and Stationery
Publicity and Marketing
Telephone/Fax/Internet
Loan Interest
Rent & Service Charges
Staff Training
Depreciation on Furniture,Fittings and Equipment
Utilities		 Unrestricted
Restricted
2022
2021
£
£
£
£
7,118
7,118
7,181
33,004
33,004
75,112
33,004
7,118
40,122
82,293
568,275
732,856
1,301,131
796,961
Unrestricted
Restricted
2022
2021
£
£
£
£
2,099
2,099
4,216
2,612
2,612
4,711
-
4,711
4,216
Unrestricted
Restricted
2022
2021
£
£
£
£
5,162
15,486
20,648
19,534
5,162
15,486
20,648
19,534
Unrestricted
Restricted
2022
2021
£
£
£
£
80,474
241,420
321,894
260,553
6,617
19,851
26,468
20,938
1,322
3,965
5,287
3,832
13,108
47,087
60,195
31,398
6,799
141,797
148,596
14,336
625
1,875
2,500
2,281
2,281
17,160
1,500
18,660
3,689
17,369
21,058
3,772
1,363
4,089
5,452
4,795
27
82
109
147
574
1,722
2,296
13,511
8,940
25,989
34,929
35,806
518
1,552
2,070
2,052
223
668
890
5,372
1,259
3,778
5,038
3,327
175
525
700
1,235
47,518
47,517
95,035
71,276
13,038
13,038
16,298
11,029
11,029
4,500
4,167
12,502
16,669
207,596
586,598
794,194
493,148
Unrestricted
Restricted
2022
2021
£
£
£
£
72,841
37,000
109,841
89,105
264
203
467
3,044
808
1,230
2,039
1,051
23,302
11,421
34,723
175
11,561
8,086
19,647
411
411
411
1,519
1,519
834
7,154
7,154
12,510
470
470
2,767
1,032
1,032
681
3,662
3,662
3,682
3,682
1,100
-
1,426
19,465
19,465
14,599
2,164
2,164
2,670
2,670
3,338
3,414
3,414
150,759
61,602
212,360
131,041

31

OSMANI TRUST LIMITED

( A Company Limited by Guarantee) Notes to the financial statements for the year ended 31 March 2022

b) Governance Costs

Salaries and wages
Employer's NIC and Pension
Recruitment & CRB
Insurance
Payroll Services
Bookkeeping and Accountancy
Audit Fees
Consultancy and Professional fees
Meeting expenses/Refreshment
Total Expenses		 18,500
18,500
18,500
2,403
2,403
2,407
652
652
652
1,117
1,117
982
1,100
1,100
1,100
2,400
2,400
2,400
3,600
3,600
3,600
50,000
50,000
50,835
131
131
195
79,903
-
79,903
80,672
230,662
61,602
292,264
211,713
448,131
663,685
1,111,816
728,610

13 PROJECT INCOME SUMMARY :

3 PROJECT INCOME SUMMARY :
Criminal Justice and Youth Service
Education and Employment Project
Shaathi Mentoring Project
OC Active
Osmani Centre and Central Income
Tower Hamlets Island Community
4 PROJECT EXPENSES SUMMARY:
Criminal Justice and Youth Service
Education and Employment Project
Shaathi Mentoring Project
OC Active
Osmani Centre and Central Expenses
Tower Hamlets Island Community
5 RESTRICTED FUND MOVEMENT :
Criminal Justice and Youth Service
Education and Employment Project
Shaathi Mentoring Project
OC Active
Osmani Centre and Central Income
Tower Hamlets Island Community		 Opening
Balance
01.04.2021
£
12,302
8,001
20,147		 2022
2021
Unrestricted
Restricted
Total
Total
Income
Income
Income
Income
£
£
£
£
288,482
315,484
603,966
378,733
450
49,939
50,389
59,374
1,800
34,200
36,000
69,331
6,786
2,550
9,336
2,360
258,984
106,987
365,970
287,164
235,471
235,471
556,502
744,630
1,301,132
796,961
2022
2021
Unrestricted
Restricted
Total
Total
Expenses
Expenses
Expenses
Expenses
£
£
£
£
101,867
252,963
354,830
267,317
27,492
63,641
91,133
93,575
24,103
51,381
75,484
87,088
12,403
5,044
17,447
45,298
282,267
95,450
377,717
235,331
195,206
195,206
448,132
663,684
1,111,816
728,610
Closing
Incoming
Resources
Adjustment
Balance
Resources
Expended
Fund Transfer
31.03.2022
£
£
£
£
315,484
252,963
74,823
49,939
63,641
13,702
0
34,200
51,381
9,180
0
2,550
5,044
2,494
0
106,987
95,450
31,684
235,471
195,206
40,265
744,630
663,684
25,376
146,771
40,450

14 PROJECT EXPENSES SUMMARY:

15 RESTRICTED FUND MOVEMENT :

32

OSMANI TRUST LIMITED

( A Company Limited by Guarantee) Notes to the financial statements for the year ended 31 March 2022

**16 ** TANGIBLE FIXED ASSETS: Computer & Furniture
Equipment & Fixtures Total
£
 £ £
Cost B/Fwd. 208,852 316,241 525,093
Addition 21,059 40,136 61,195
Disposal
229,911 356,377 586,288
Depreciation:
Charges B/Fwd. 181,049 265,499 446,549
Charge for the year 5,545 10,163 15,708
186,594 275,662 462,257
Net Book Value
As at 31 March 2022 43,317 80,715 124,031
As at 31 March 2021 27,803 50,742 78,544
**17 ** DEBTORS & PREPAYMENTS: 2022 2021
£ £
Grants and Other Debtors 20,336 39,865
20,336 39,865
**18 ** CREDITORS: AMOUNT FALLING DUE WITHIN ONE YEAR 2022 2021
£ £
Activity/Support cost Creditors 129,776 6,015
Hall hire deposits 20,230
Accruals and deferred income 250,221 192,440
PAYE and pension liabilities 9,193 146
Future Builder Loan - 14,293
Deferred capital grant income 7,118
409,420 220,013
**19 ** CREDITORS: AMOUNT FALLING DUE AFTER MORE THAN ONE YEAR 2022 2021
£ £
BDP Loan 39,000 39,000
39,000 39,000

There is an interest free loan received from Bangladeshi Drugs Project. The loan was previously provided where BDP felt that Osmani Trust were in a strong position to execute common objectives of both charities. As at 31/03/22, BDP have not recalled the loan. The loan is not repayble within 12 months, if recalled.

20 STAFF EMOLUMENTS:
Total wages and salaries
Employer's NIC
Employer's Pension
Direct Charitable
Others
Avg No of employees: Admin
Avg No of employees: Direct
Employees paid in excess of £60,000 during the current year
and previous year		 2022
2021
£
£
465,068
386,079
34,638
31,190
7,839
5,694
507,545
422,963
397,478
304,857
110,067
118,107
507,545
422,963
4
3
18
15
22
18
None
None

No remuneration was paid to any trustees during the year ended 31.03.2022 and for the year ended 31.03.2021. Individuals considered to be key management personnel were renumerated a total of £65,680 in the year. (2021: £75,100). This includes employer national insurance and pension contributions.

33

OSMANI TRUST LIMITED

( A Company Limited by Guarantee) Notes to the financial statements for the year ended 31 march 2022

21 MOVEMENT IN FUNDS:
As at 1 April 2021
Current year
Fund Movement
As at 31 March 2022		 Unrestricted
Fund
£
81,313
108,371
(25,376)
164,308		 Restricted
Fund
Total
£
£
40,450
121,763
80,945
189,316
25,376
-
146,771
311,079

The unrestricted reserves of the organisation have increased year on year currently being equivalent to 5 months of operational funds. It is the aim of the Trustees to ultimately have a reserve level that can support 6 months' operations.

22 Auditor's Remuneration:

muneration:
Auditor's Remuneration for the audit of the charity's annual accounts
Fees Payable to the charity's auditor for non-audit services		 2022
2021
£
£
3,600
3,600
2,400
2,400

23 Taxation:

The entity is a registered charity, does not undertake non-charitable activities and is entitled to tax exemptions from HMRC.

24 Events after the Reporting Period:

There are no significant post balance sheet events to report.

25 Related Party Transactions:

The charity had previously taken an interest-free loan from Bangladeshi Drugs Project, a company limted by guarantee, of which Mr. Shaynul Khan (Treasurer) is a trustee. The balance is disclosed within long-term creditors. No repayment was made during the year.

26 Contingent Liabilities:

The Company had no contingent liabilities as at 31 March 2022, nor at 31 March 2021.

27 Financial commitments:

As at 31 March 2022, the charity has annual commitments under non-cancellable operating leases as follows:

Under one year
Between 2-5 years
More than 5 years		 2022
2021
£
£
114,500
114,500
Land and buildings
-
-
-
-

28 Analysis of changes in net debt

The analysis below serves as a note to the cash flow statement:

At start New/sold New Fair value Foreign exchange Other non- At end
of year Cash flows subsidiaries finance leases movements movements cash changes of year
£ £ £ £ £ £ £ £
Cash 262,367 352,766 - - - - - 615,133
Cash equivalents - - - - - - - -
Overdraft facility - - - - - - - -
Total cash 262,367 352,766 615,133
Loans < 1 year (14,293) 14,293 - - - - - -
Loans > 1 year (39,000) 0 - - - - - (39,000)
Finance leases - - - - - - - -
Total borrowing (53,293) 14,293 (39,000)
TOTAL 209,074 367,059 576,133

29 Government grants

The entity received funding from the HMRC Job Retention Scheme (Note 8), to subsidise workforce retention during the financial year.

34