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2024-03-31-accounts

OSMANI TRUST LIMITED (A COMPANY LIMITED BY GUARANTEE)

REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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 2024

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

TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024

The Trustees, who are also Directors of the charity for the purposes of the Companies Act, are pleased to present the Trustees Report and audited financial statements for the year ended 31 March 2024 to comply with requirements of the Companies Act 2011 and the Statement of Recommended Practice (SORP) for charities.

LEGAL AND ADMINISTRATIVE INFORMATION

Company number:6867755
Charity number:1129282
Directors/Trustees Imadul Islam (Chairperson)
Sati Aminur Rahman (Secretary)
Shaynul Khan (Treasurer)
Sirajul Islam
Mohammed M Choudhury
Nadia Ali (until 31 Oct 2023)
Ashraf Ali
Shamsur Rahman
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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STRUCTURE GOVERNANCE AND MANAGEMENT

Governing Instrument

The Company/Charity is constituted as a company limited by guarantee, incorporated on 02 April 2009, and 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 ensure 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. No serious incidents to report in 2023-24.

Through its provisions, Osmani Trust seeks to address issues impacting the local community including substance misuse, racial tensions, criminality and anti-social behaviour, knife crime, territoriality and gang-related 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 a 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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Osmani Trust Annual Review 2023-24

Young People’s Services

Youth Space Osmani Centre and Minerva Centre

The Youth Space provides a diverse range of recreational, social, and educational activities for young people aged 11 to 19 (and up to 25 for those with SEND). Our youth offer is shaped by regular consultations and “shared decision-making” with the young people we serve, ensuring that our programmes meet their needs and interests.

Across both the Osmani Centre and the Minerva Community Centre, we have welcomed over 500 young people who have actively engaged with our youth programmes. Attendance has notably soared during summer holidays and half-term breaks, with our programmes offering accredited courses, exciting off-site trips, and enriching youth residentials.

Our centres are equipped with cutting-edge gaming equipment and state-of-the-art sports facilities, creating a stimulating environment where young people can grow and develop in a supportive, informal educational setting.

Looking ahead, the Osmani Centre is excited to introduce a fully furnished Podcast Studio and a Sensory Room in 2024/25, further enhancing our already exceptional youth facilities. These additions will provide even more opportunities for young people to explore their creativity, develop new skills, and find a space that supports their well-being.

Key outputs

  1. 523 unique young people engaged

  2. 369 young people engaged in five or more sessions

  3. 142 young people received 1-2-1 mentoring support

  4. 186 young people achieved a recorded outcome

  5. 62 young people achieved an accreditation

Youth Space Girls

At Osmani Trust we partner with a diverse range of collaborators to offer dynamic activities and programmes designed to empower girls with the skills, confidence, and resources they need to face challenges and seize opportunities.

Our youth work is driven by the following goals:

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Our programmes blend fun with growth. We have introduced a variety of sports-oriented activities, including Roller Skating, Swimming, Boxing, and Kayaking. In addition to physical activities, we also focus on personal development through workshops on public speaking, project management, and volunteering opportunities. Key topics we address include:

Key Outcomes :

  1. 198 unique young people participated in our Youth Service programmes.

  2. 105 young people engaged in five or more sessions.

  3. 142 young people received personalized 1-to-1 mentoring support.

  4. 86 young people achieved a recorded outcome.

  5. 32 young people earned an accredited qualification.

Our programme continues to inspire and equip girls to realise their full potential in both personal and social aspects of their lives.

Estate Based Youth Services

Most of our Detached Youth Work takes place in the street, on an Estate, in parks, Multi Use Games Areas, and other spaces young people hang around, ensuring accessibility to trusted Youth Practitioners for young people who are unlikely to attend centre-based provisions.

Our sessions were delivered in Spitalfields & Banglatown, Collingwood Estate, Bethnal Green West, and Poplar and Limehouse, providing the community with an additional 15 hours of weekly provision. Some activities on offer included Fitness, Boxing, Badminton, and Information, Advice and Guidance.

The key aims of the projects are:

Our Detached Work has worked hand in hand with the growth of our Youth Spaces, acting as a referral pathway into our wider offer for young people, such as accredited learning and opportunity to participate in various positive activities geared towards a young person’s development.

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Outputs
Number of Detached Youth Work Sessions Delivered 238
Number of Hours Detached Youth Work Delivered 918
Number of YoungPeople Engaged 220
Number of Young People achieving an Accredited or Recorded
Outcome		 102

Violence Reduction Services

Tower Hamlets Island Community Network (THICN)

THICN is a Consortium on the Isle of Dogs, Tower Hamlets, as part of the flagship GLA MyEnds programme, funded by the Mayor of London’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 comprises of key partners including LBTH, THCVS, ELBA, Met Police, The Utilize Project, local young people, and residents’ representatives.

The THICN Consortium, along with partners from the council, police and wider voluntary sector aim to:

Year 3 of THICN saw Osmani Trust’s Violence Reduction Intervention; our Reparations Programme as finalists for the prestigious Children & Young People Now Awards 2023, for the ‘Youth Justice Award’. In addition, the THICN Board were selected for external evaluation by Cordis Bright on behalf of the VRU’s MyEnds Programme, for Promising Practise under Stronger Community Networks.

The Consortium engaged 1308 individual young people; susceptible and involved in, serious youth violence, participated in a broad range of diversionary activities, leading to positive outcomes.

Through THICN’s Youth Opportunities Fund, an additional eight local organisations, received grant funding alongside capacity building support. Adding much needed provisions and value to hard-toreach groups across the Isle of Dogs.

Projects around Violence Against Women and Girls (VAWG), specialist arts provision and innovative new projects such as Fathers and Sons Work; all benefitted from this resource, with an additional 500 beneficiaries from the Isle of Dogs engaged.

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Outputs / Outcomes 2023 - 2024

Outputs / Outcomes 2023 - 2024
YoungPeople Engaged in Services/Activities 1308
New Youth Facilities Opened 1
Completed Accredited Training 46
YoungPeople Completed Training 108
YoungPeople Attained Jobs 38
Number of Grassroots Organisations Funded 8
Hours of Detached Youth Work Delivered 624
New Youth Workers Deployed 3
CommunityEvents Held 4
Organisations and CommunityRepresentatives Engaged 63
Gangconflicts Mitigated Through Mediation and CommunityResolutions 5

Case Study

Jane had been having a tough time at home constantly fighting with mum and siblings, and then asked to leave the house, making her effectively homeless. She was lacking in confidence and sadly got involved in anti-social activities including smoking weed and staying out late with friends and struggling at school.

THICN’s Samuda Boxing Club has now given her confidence and a new peer group that have had a positive influence on her. She has now become a regular attendee and has taken on more responsibilities, including volunteering to run the new Girls Session.

“I now hope that one day I can become a qualified Coach, see more females into sport and for me personally, Boxing has been my escape and tool to positively improve myself and my life, things are better at home now and I’m able to check in with good people when I need to for decisions that are critical to my future”.

“THICN and this club has given me the opportunity to get out of the house and off the streets. It’s given me something productive to do and something to work towards.”

Changing Futures Peer Programme

The Changing Futures Programme is a transformative peer programme aimed at empowering young people. It is a comprehensive initiative that targets young people across different estates. Through its multifaceted approach its overarching goals are to reduce violence and minimise anti-social behaviour (ASB) to create a positive future for the communities in Tower Hamlets. By addressing the root causes of crime and educating young individuals about the consequences of engaging in criminal activities, the programme strives to foster a safer environment and provide a better quality of life for young people.

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Outputs
At riskyoung peopleparticipatingin ChangingFutures Programme 61
At risk young people benefited from diversionary, inspirational,and aspirational
activities,sports,and communityevents.		 646
At risk young people participating in 30 workshops on topics covering knife
crime, violence, gang culture, drugs misuse, drug related crime, ASB,
entrepreneurship,and knowyour rights		 144
Major intervention/mediation ofgroup/gangconflicts. 9
Young people involved ingroup/gangconflicts which were mediated. 106
1-1 sessions conducted during peer sessions, indoor sessions and outdoors in
the community		 115
Detached sessions conducted in the communitywithin firstyear ofproject 129

Impact

The impact of the Changing Futures Programme has been significant, with positive transitions in education, employment, and attitudes among participants. The programme has improved community safety, and fostered connections in the community. It has also had a transformative effect on the welfare of young people from challenging backgrounds, creating meaningful and sustainable transformations.

Second Chance Programme

The Second Chance Programme (SCP) aims to guide young individuals, aged 13 to 21, away from the perils of drug dealing, drug-related violence, and other criminal activities. In collaboration with Tower Hamlets Council Safer Communities, ASB team, Met Police, local schools, PRU's, and other key services, this innovative initiative embraces a strategy in line with the government's diversion scheme. Recognizing that short-term prison sentences often lead to reoffending, SCP prioritizes meaningful engagement with diversionary programs.

The team fortified partnership with Tower Hamlet Council, ensuring a consistent stream of referrals from lead case workers across various departments, including Social Services, Probation, YOT, and YPS. The team played a pivotal role in the ISS Planning and reparations for young people, demonstrating our commitment to their holistic growth.

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In response to these developments, the Second Chance Programme has evolved to offer even more personalized support, tailored to the unique needs of each individual. The team assist young people with essential tasks such as UC applications, acquiring Passports, Provisional Driving Licences, CSCS cards, and CBT courses, alongside enhancing their CVs and job search skills.

Out of 46 referred youths, an impressive 43 completed the Second Chance Programme (SCP), with 38 opting to abstain from drug dealing six months post-programme. As a vital component of the SCP, participants engaged in the NatWest Thrive Programme, a dynamic collaboration between Marcus Rashford and NatWest. This transformative initiative aimed to equip young individuals with essential skills, fostering a positive mindset and instilling the self-belief crucial for personal development. Through tailored modules, the programme enhanced financial confidence, laying a solid foundation for their future endeavours. Osmani Trust was one of 20 organisations selected to participate in this impactful programme, culminating in a joyous graduation event held at our centre.

Outputs
Starts – Uniqueparticipant 46
Completions – Uniqueparticipant 43
No. of one-to-one mentoringsessions delivered 307
No. ofgroupworkshops delivered in PRU and Schools 21
No. ofyoung people at risk attendingworkshops in PRU and Schools 249
No. ofparents/families supported 15
No. ofparents/families support sessions 34
No. ofyoung people involved inproject design and leadership 10
No. of sessions for the community project led by young people 9
Outcomes
Increased engagement with society 38
Improved mental health and well-being 38
Improved relationships 38
Improved behaviour 38
Increased employment 17
Reduced violence 38
Improved attainment 25

In its mentoring approach, the project implemented validated assessments such as Teen STAR and the Multi-Student Life Satisfaction Scale (MSLSS) to gain deeper insights into its clients' progress. These assessments are pivotal in crafting a robust action plan aimed at identifying and enhancing key areas within their lives. Conducted after the initial stages of engagement and concluding at the end of their programme, these assessments form a crucial part of the client-centred strategy.

Furthermore, we have organized a series of group workshops in partnership with secondary schools, places of worship, and various community centres, including youth clubs. Our programme outcomes are determined through invaluable feedback from parents, schools, and the wider community. Leveraging social media platforms, we have amplified our reach and engagement, bolstering our efforts to create awareness and provide support.

For families within our case load, we undertake home visits and maintain regular follow-up calls and meetings to ensure comprehensive support for our young participants. Our data analysis reveals the significant impact of our programs, as evidenced by the average difference in scores from the initial assessment to the program's completion:

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These outcomes underscore our commitment to fostering positive change and empowering the young individuals in our care.

Breaking the Cycle

Breaking the Cycle aims to ‘break the cycle’ of youth violence via early prevention and intervention. The target primarily worked with BAME young people aged 10-16 who are ‘at risk’ or already involved in crime and violence.

Our scheme supported 40 young people and their families in London (Tower Hamlets) and a further 29 young people and their families in Birmingham.

Weekly mentoring sessions took place in schools as well as in the community. The mentors worked closely with mentees over 3-6 months period to improve the young person’s attitude around offending behaviour and violence. The mentoring supported young people to make positive lifestyle changes and factored some of the underlying issues acting as a barrier to a young person’s development, these were often around anger management, low social skills, and lack of information available to them to make more informed choices,

The project also took an interest in educating parents and held numerous seminars on understanding youth culture and dealing with challenging behaviour of teenagers. We also delivered workshops to help parents recognise the early signs of when a young person is being groomed or exploited.

Outcomes/ impact

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Case study

AW received intensive support from his Mentor. Initial one to one session helped to identify AW’s needs and establish goals. A series of mentoring sessions focused on relationships building, selfesteem, education, and trauma experience, as developing emotional strength and resilience was important to move forward. The mentor took AW out to eat on occasions and other times AW was introduced to new activities and environments. AW mentioned that he was interested in animals and farms, so the mentor arranged a visit to the Spitalfields Animal Farm, where he was signed up to the farmers club. AW then expressed interest in exercise and boxing so the mentor took AW to Aberfeldy boxing club, and Osmani Trust supported his interest by purchasing boxing gloves and other gym equipment. A key outcome was to get AW back into some form of education as he had not been in any formal or informal education for the past year. This outcome was achieved by Osmani Trust arranging one-to-one tutoring for AW once a day for 1.5 hours in Third Base.

Criminal Justice Service

The Bridge Programme

The Bridge Programme provides a mentoring service for individuals recently released from prison or involved in the criminal justice system aged 18-30 and from a minority ethnic background.

The mentoring programme played a vital role in supporting these individuals, providing them with a pathway away from an offending lifestyle toward successful reintegration into the community.

The second iteration of the Programme will be launched in 2024.

Research – Rebuilding Lives

We thank the Barrow Cadbury Trust for recognising the need for a community-led research into Muslim experiences of the Criminal Justice System (CJS) and for their support and funding. The funding of £45,850 covered the years 2021 to 2023, which was fully spent. As a result, Rebuilding Lives – Young Muslims from the Criminal Justice System to Community Settlement was published in October 2023.

Family Mentoring

Shaathi Family Mentoring Programme

The Shaathi Family Mentoring Project (FMP) supports at least 30 families a year to help with confidence, resilience, capacity building and strengthen family relationships with the young person. All interventions were delivered with the family hub core values which is to be inclusive , relational, compassionate, restorative with trauma informed thinking.

Family workshops

We have facilitated family workshops where parents/carers and children and young people have improved their school attendance, academic performance, their understanding of online safety, a stronger sense of their own identity and increased motivation and clarification of their prospects. Inviting families into the Osmani youth space to play pool and other activities has enabled families to

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discuss issues, help with bonding and building better relationships – at the end, young people felt that their voices were heard by parents.

Parenting workshops

Our parenting workshops continued to be effectively delivered on an individual case-by case basis (using evidence-based models) alongside general 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 have delivered various workshops including, ‘the effects of parental fights and its impact on children and young people’s mental health’, ‘setting boundaries and routines ‘, ‘online safety’.

We also referred 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. We have also advocated on their behalf when needed and strengthened their relationship with their child.

Thee Shaathi Family Mentoring Programme ended in October 2023. Figures below represent outcome for two quarters.

Outcomes
Increase in families getting Early Help 11
Young people and girls are able to, and do, access a range of spaces,
activities and social opportunities_acro_ss Tower Hamlets		 9
Increase in confidence inyoung people and families 11
Parents improvement inparentingskills 7
Increase in young people and family’s awareness of local services and
access them to deal with crisis		 7
Improvement in family relationship/environments for children and young
people		 5
Improvement in managing with long term health conditions, disability,
addiction,anti-social behaviour,etc.		 5
Increase in resilience inyoung people and families 14
Families increased knowledge of healthy eating and exercise and cook with fresh
ingredients.		 2

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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.

Know The Risks

Osmani Trust is the designated delivery partner of choice for the KnowTheRisks Programme. Aimed at tackling the misuse of N20 (Nitrous Oxide), through the delivery of preventative workshops for young people in schools, and to residents of Tower Hamlets in other community settings.

The project is a four-way collaboration between the London Borough of Tower Hamlets, Queen Mary University London, the Mayor of Tower Hamlets and Osmani Trust, to:

Cllr Abu Talha Chowdhury, Cabinet Member for Safer Communities, said: “I have attended one of the workshops delivered by Osmani Trust and saw first-hand how they are already having a positive impact on the young people in our borough. We are confident that this combined approach of education and support will drive down NOX usage in our borough.”

Outputs Number of workshops delivered within schools 22 Number of workshops delivered in community settings 5 Number of young people attended workshops 1360

Health and Sports

MCGP – OC ACTIVE

OC Active Sports & Health project provides access to regular sports provision for BAME communities including young girls, women, young adults, and men over 45 , meeting their family, cultural and religious needs and enabling them to participate fully. The programme supports local people to become volunteer Sports Champions promoting sports and healthy living.

Project aims:

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OC active provides a variety of indoor and outdoor sports activities for various age groups throughout the year with the following aims.

Outputs / Outcomes 2023-24 Outputs / Outcomes 2023-24
Sports Session & Annual Events 2023/24 Average per session Number of Total
sessions/games attendance
Male 45+ Football Session@Stepney3G 20 42 840
Women Basketball Session(Sports Hall) 12 44 528
YoungGirls Basketball Session(Sports Hall) 10 18 180
Men’s Well-BeingSocial Club(Osmani Centre) 12 36 432
Boys Football Session(Sports Hall) 15 30 450
YoungAdults(Male)Badminton(Sports Hall) 8 10 80
Female Badminton(Sports Hall) 10 10 100
Boys Football session@Stepney3G 20 42 840
Total 107 232 3450
Annual Events Attendees Number of teams Total
attendance
15thAnnual Tower Hamlets Community Cup Young people 50 400+
Plus, supporters 300+
Over 50s Masters Football Tournament Over 50s 7 120+
Plus, supporters 100+
Total 920
Annual Total Attendance 4370

Jack Petchey Awards

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Osmani Trust is grateful for the continuous support it receives through Gold Level of the Jack Petchey Foundation Achievement Award scheme. As usual young members are awarded for achieving something special. These award winners are chosen by their peers for various achievements (helping someone else, overcoming an obstacle or trying their best and making progress).

Osmani Centre

The Osmani Centre provides a great contemporary location for 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.

Osmani Centre has undergone some fantastic renovations and improvements to better serve the community and provide a wide range of facilities for various user groups. The addition of a Podcast room, Sensory room, and new kitchen facilities for youth services shows a commitment to inclusivity and meeting the diverse needs of service users. The centre's availability for hire to organisations and the local community, as well as its role as a community hub, highlights its importance as a versatile and welcoming space. The improvements made, such as enhancing accessibility, further demonstrate a dedication to creating a more inclusive environment for all users

Renovation work is in line with our trajectory, where we are seeing an increase amount of people coming through our doors. This year we have seen over 56,000.00 people visit our centre. We have an increase of users from charity organisations, small/start up local businesses using our facilities for training, seminars, sports, and fitness classes. A variety of user groups used the centre’s facilities; Young People, women and girls, people with disabilities and their families, adults with mental health, parents, the unemployed, elderly groups, and various minority ethnic groups used Osmani Centre for a wide range of purposes.

Youth Facilities

The Osmani Centre has a dedicated floor for youth services comprising a modern fully equipped youth centre, Active Studio, Multi-gym space, training rooms and kitchen facilities, with addition of a new Podcast room, and a sensory room.

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. Most of the Osmani Trust services are based in the centre.

Improvements

The Osmani Centre has made significant improvements to ensure compliance with the Disability Discrimination Act and enhance inclusivity for users with disabilities. These improvements include installing a new automatic sliding door at the main entrance,

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repainting the entire building, adding new flooring on the ground and third floors, and updating the flooring in all toilets. The new reception area is designed to create a more welcoming atmosphere, and there is now more accessible space on the ground floor for wheelchair users and those with mobility needs.

The Osmani Trust is committed to a sustainable and environmentally friendly building, we have taken steps to reduce our carbon footprint and energy consumption. Our staff participated in an eco-tip workshop to learn how to be more eco-friendly, while an independent auditor assessed our building to provide recommendations for improvement. Following these recommendations, we are looking at funders for new Air Source Heat Pumps, LED lights throughout the building, and Solar panels to store energy and reduce emissions.

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TRUSTEES REVIEW

Introduction

The Trustees present their Report together with the Audited Financial Statements for the year ended 31 March 2024 under the Charities Act 2011. All members of the Trustee Board are Directors of the charitable company and this report represents a Directors’ report as required by the Companies Act 2006.

The ongoing impact of the cost of living crisis, rising prices and high rates of inflation continued to be challenging for many young people and their families. For us, it was a year of steadying the ship but ensuring the future remains secure and on track. Despite the testing times, quite simply, it has been another year of trying to do more with less as we continue to deliver vital programmes to young people and their families. Our frontline services have, again, supported thousands of young people in the year.

It was a year of mixed funding successes, whereby we were forced to reduce some services but significantly increased others. In general, the employment and training sector has not been favourable to sub-contractors, like us, in recent years. This has culminated in curtailing some direct services, focussing on essentials. However, we have integrated employment, training and information & advice elements into other projects, ensuring young people and adult’s needs are not affected.

In contrast, the continued growth and expansion of the MyEnds violence reduction and specialist mentoring programmes, together with the Tower Hamlets Mayor’s Community Grants, provided us with strength and stability during the year and beyond.

Investing in our infrastructure has transformed how we operate, reviewing and improving essential internal systems, such as our data collection capabilities, HR and Finance processes.

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).

Osmani Trust enters the new year with continued optimism as some large grants and contracts run until 2026. 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 and secured alternative funders, such as the Violence Reduction programmes.

To solidify our long-term sustainability we embarked on a review and restructure of the organisation. This restructure was focused on making sure we remain fit for purpose and manage the expanding services effectively and efficiently.

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

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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

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

Osmani Centre

Fundraising, sustainability, and development

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Partnerships and networks

PR promotions and media

Finance objectives

Activity 2024/25 2024/25 2025/26 2025/26 2026/27 2026/27
OT Total
Income		 • Achieve £1.9m
+ pa		 • Achieve £2.1m +
pa		 • Achieve £2.5m + pa
Balance
Sheet /
Reserves		 •
•		 Achieve
surplus IE
balance
Maintain
positive total
Balance Sheet
£790K +		 •
•		 Achieve surplus
IE balance
Maintain positive
total Balance
Sheet £830K +		 •
•
•		 Achieve surplus IE
balance
Maintain positive
total Balance Sheet
£870K +
Build on and
maintain reserves

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Financial Review

Results for the year

The Statements of Financial Activities shows a net surplus of £275,280 (2023 net surplus was £201,589) with a positive Balance Sheet value of £787,937 (2023 was positive £512,658).

Reserves Policy and going concern

The Management Committee (MC), made up of all Trustees/Directors, 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 part of the charity’s unrestricted income funds that are freely available after considering designated funds (restricted funds) that have been earmarked for specific project use.

The reserves currently stand at £424,862 and are calculated as follows:

Total unrestricted funds of £620,369 Less designated funds (£195,507) Total reserves £424,862

The MC intends that, where appropriate, designated funds are spent within a reasonable period of receipt and therefore foresee a need to maintain reserves sufficient to provide certainty of funding for essential services. Therefore, the minimum target for reserves is equivalent to 3 months of operational costs, which is approximately £210,000. The present level of reserves is in surplus of this target. The strategy is to continue building through planned operations and explore capitalising surplus unrestricted funds in minimal-risk investments.

The minimum reserve requirement is calculated as follows:

Requirement Balance
Requirement for essential services £50,000
Requirement for staff £135,000
Requirement for other charitable expenditure £25,000
Total reserve requirement £210,000

Each 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). Any inactive funds will be closed, and the funds transferred to reserves.

The MC and the management team have reviewed all expected income and expenditure projections and concluded that, together with the reserves, there is a reasonable expectation that Osmani Trust has adequate resources to continue in operational existence for the foreseeable future. The Osmani Trust, therefore, continues to adopt the going concern basis in preparing its financial statements.

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Fundraising Activities

Osmani Trust’s funding is received from the hiring of its rooms, private and public contracts, and charitable trusts, foundations and other grant-giving bodies.

Risk Management

The Management Committee conducted a review of the 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 the 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.

Senior Managers and Trustees have addressed any operating 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 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:

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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:

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 10[th] December 2024 and signed on its behalf by:

Mr Imadul Islam (Chairman)

21

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 2024, 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 2024, 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

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.

22

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’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or

• 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 information given in the Trustees’ report, including the Strategic Report, for the financial year for which the financial statements are prepared, is consistent with the financial statements; and

• 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

• the financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of directors’ remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit.

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. To address the risk of fraud through management bias and override of controls, we investigated the rationale behind significant and unusual transactions, and assessed whether any judgements or accounting estimates made indicated any bias.

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: 12[th] December 2024

25

OSMANI TRUST LIMITED

( A Company Limited by Guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME & EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024

INCOME AND EXPENDITURE
Notes
INCOMING RESOURCES
Donations and legacies
5
Activities for Generating Funds
6
Charitable Activities Income
7
Total Income
RESOURCES EXPENDED
Fundraising Costs
8
Charitable Activities Costs
9
Administrative Costs
10
Total Resources Expended
NET INCOME /DEFICIT FOR THE YEAR
Funds at 1 April 2023 (b/Fwd.)
Fund Movement
19
Funds at 31 March 2024		 Total
Unrestricted
Restricted
2024
£
£
£
36
-
36
317,775
-
317,775
351,143
1,036,711
1,387,854
668,954
1,036,711
1,705,665
27,809
-
27,809
28,132
868,457
896,589
357,743
148,245
505,988
413,684
1,016,702
1,430,386
255,271
20,009
275,280
389,512
123,146
512,658
(24,414)
24,414
620,369
167,569
787,937		 Total
2023
£
42
258,938
1,557,857
1,816,837
39,513
1,151,136
424,600
1,615,249
201,589
311,079
512,668

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 2024

Notes
Fixed Assets:
Tangible Assets
14
Current Assets:
Debtors & prepayments
15
Investments
Cash at Bank and in hand
Creditors:
Amount falling due within one year
16
Net Current Assets
Creditors:
Amount falling due more than one year
17
Total Net Assets
Funds
Unrestricted funds
19
Restricted Funds
19
Total Funds		 £
162,170
25,252
865,345		 Total
Total
2024
2023
£
£
195,507
117,856
68,643
25,252
763,244
857,139
423,337
625,430
433,802
820,937
551,658
33,000
39,000
787,937
512,658
620,369
389,512
167,569
123,146
787,937
512,658
1,052,767
427,337

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 10th December 2024, 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 2024

2024 2023
£ £ £ £
Cash Outflow from Operating Activities
Operating Profit 275,280 201,589
Depreciation 32,804 24,820
(Gain)/Loss on fIxed asset disposal
Operating Profit Before Working Capital Chgs 308,084 226,409
(Increase)/Decrease in Debtors (93,527) (48,307)
Increase/(Decrease) in Creditors 3,998 13,906
Cash from Operations 218,555 192,008
Net Cash Generated from Operations 218,555 192,008
Cash Outflow from Investment Activities
Purchase of Tangible Fixed Assets (110,454) (18,645)
Investment purchase (25,252)
Net Cash inflow/outflow from investment Activities (110,454) (43,897)
Cash Outflow from Financing Activities
Capital grant released
Increase/(Decrease) of Loans (6,000) (6,000) -
Net Increase/(decrease) in Cash and Cash Equivalent 102,101 148,111
Opening Cash and Cash Equivalents 763,244 615,133
Closing Cash and Cash Equivalents 865,345 763,244
Reconciliation:
Cash at bank and in hand 865,345 763,244
865,345 763,244

See Note 26 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 2024

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. 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

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 T 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. Leasehold improvements Over the term of the lease

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.

3.8 Investments:

Investments relate to a 11,112 ordinary shares in an unlisted private limited company. They are valued at cost less impairment.

29

OSMANI TRUST LIMITED

( A Company Limited by Guarantee)

Notes to the financial statements for the year ended 31 March 2024

3.10 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
6
7		 DONATIONS & LEGACIES:
Donations
ACTIVITIES FOR GENERATING FUNDS
Rooms, halls and sports facilities hire
CHARITABLE ACTIVITIES INCOME:
The National Lottery Community Fund
Big Lottery Fund: Awards for All
Blackwall Reach Trust
NHS Compass Wellbeing
HM Prison & Probation Service
LBTH BTC Childrens services
British Land Community Fund (Broadgate)
Jack Petchey Foundation
LBTH-Youth Services
LBTH-Local Community Fund
LBTH - Health, Adults & Community
Muslim Aid
London Learning Consortium
Rinova
Natwest NYA
GLA Violence Reduction Unit - My Ends
GLA Young Londoners Fund
East End Community Foundation
Swan Housing Association
London Sport
Al Khair Foundation
Dr. Martens Foundation
Duke of Edinburgh Trust
Royal & Sun Alliance
IR UK
Barrow Cadbury
Canary Wharf Group
LBTH VRU
Powerto Change
Queen MaryUniversity
Tower Hamlets Homes
Tower Hamlets Council - Mayors Grant
Tower Hamlets Council - Other
In2Sports
Total Income		 Unrestricted
Restricted
2024
£
£
£
36
36
36
-
36
Unrestricted
Restricted
2024
£
£
£
317,775
317,775
317,775
-
317,775
Unrestricted
Restricted
2024
£
£
£
10,770
61,030
71,800
500
9,500
10,000
3,613
20,476
24,089
-
37,495
37,495
9,900
9,900
-
2,700
2,700
138,000
138,000
2,099
39,875
41,974
2,000
38,000
40,000
6,750
38,250
45,000
22,753
22,753
2,622
2,622
150
2,850
3,000
57,000
323,000
380,000
6,000
34,000
40,000
525
9,975
10,500
500
500
175
3,325
3,500
3,000
17,000
20,000
3,000
17,000
20,000
5,815
5,815
-
22,500
127,500
150,000
-
4,000
4,000
-
7,277
138,263
145,540
5,250
29,750
35,000
2,559
48,620
51,179
2,083
39,584
41,667
1,521
28,898
30,419
400
400
351,143
1,036,711
1,387,854
668,954
1,036,711
1,705,665		 2023
£
42
42
2023
£
258,938
258,938
2023
£
210,970
8,000
24,589
68,468
90,015
103,600
11,110
2,700
158,700
71,955
10,000
22,828
5,994
3,000
513,695
60,000
5,000
5,650
-
3,969
5,228
100,000
11,250
5,000
9,800
10,000
-
24,935
-
11,400
1,557,857
1,816,837

30

OSMANI TRUST LIMITED

( A Company Limited by Guarantee) Notes to the financial statements for the year ended 31 March 2024

EXPENDITURE SUMMARY

8
FUNDRAISING COSTS:
Employment costs
Card machine and processing costs
9
CHARITABLE ACTIVITIES COSTS:
Employment costs
Salaries
Grant making and partnerships
Recruitment & CRB
Sessional Coaches and Workshops
Activity Costs, facilities hire, and awards
Training & Accredited Learning
Consumables
Excursions and Residential trips
Travel Expenses
IT & Web Expenses
Reviews and evaluation
Publicity and Marketing
Telephone/Internet
Printing/Postage/Copying, and Stationery
Equipment costs
Subscriptions
Volunteer costs
10
ADMINISTRATIVE COSTS:
a) Support Costs
Employment costs
Volunteers
Accountancy
Payroll
Sessional Workers
Bank Interest and Charges
Consumables
Building Maintenance & Facilities
IT Maintenance
Printing/Postage/Copying, and Stationery
Telephone/Fax/Internet
Legal & Professional
Rent
Staff Training
Depreciation on Furniture,Fittings and Equipment
Utilities		 Unrestricted
Restricted
2024
2023
£
£
£
£
22,165
22,165
37,770
5,644
5,644
1,743
27,809
-
27,809
39,513
Unrestricted
Restricted
2024
2023
£
£
£
£
-
323,273
323,273
491,427
240,568
240,568
90,975
3,198
3,198
1,336
28,132
140,814
168,946
122,828
97,925
97,925
349,891
3,408
3,408
4,212
23,016
23,016
12,422
6,226
6,226
39,142
-
1,607
-
5,150
15,000
15,000
15,000
1,445
1,445
8,011
-
330
-
4,995
3,663
3,663
1,240
8,159
8,159
2,550
1,762
1,762
20
28,132
868,457
896,589
1,151,136
Unrestricted
Restricted
2024
2023
£
£
£
£
115,961
115,961
63,334
288
288
4,040
2,700
2,700
2,700
-
1,200
7,399
7,399
4,514
3,001
3,001
154
8,910
8,910
7,262
34,451
10,045
44,496
38,472
16,660
16,660
3,576
5,219
5,219
4,764
15,248
15,248
1,562
496
496
85
17,175
97,325
114,500
114,500
360
360
6,788
32,804
32,804
24,820
6,654
40,875
47,529
45,598
267,326
148,245
415,571
323,369

31

OSMANI TRUST LIMITED

( A Company Limited by Guarantee) Notes to the financial statements for the year ended 31 March 2024

b) Governance Costs

Employment costs
Reviews and evaluation
Recruitment & CRB
Insurance
Audit Fees
Consultancy and Professional fees
Meeting expenses/Refreshment
Total Expenses		 69,863
69,863
44,944
-
3,861
495
495
2,138
9,036
9,036
8,236
3,900
3,900
3,900
6,108
6,108
37,500
1,015
1,015
652
90,417
-
90,417
101,231
357,743
148,245
505,988
424,600
413,684
1,016,702
1,430,386
1,615,249
11
PROJECT INCOME SUMMARY :
Criminal Justice & Young Peoples' Services
Education and Employment Project
Shaathi Mentoring Project
OC Active
Osmani Centre and Central Income
Tower Hamlets Island Community
12
PROJECT EXPENSES SUMMARY:
Criminal Justice & Young Peoples' Services
Education and Employment Project
Shaathi Mentoring Project
OC Active
Osmani Centre and Central Expenses
Tower Hamlets Island Community
13
RESTRICTED FUND MOVEMENT :
Opening
Balance
01.04.2023
£
Criminal Justice & Young Peoples' Services
-
Education and Employment Project
Shaathi Mentoring Project
-
OC Active
Osmani Centre and Central Income
58,347
Tower Hamlets Island Community
64,800
123,147		 11
PROJECT INCOME SUMMARY :
Criminal Justice & Young Peoples' Services
Education and Employment Project
Shaathi Mentoring Project
OC Active
Osmani Centre and Central Income
Tower Hamlets Island Community
12
PROJECT EXPENSES SUMMARY:
Criminal Justice & Young Peoples' Services
Education and Employment Project
Shaathi Mentoring Project
OC Active
Osmani Centre and Central Expenses
Tower Hamlets Island Community
13
RESTRICTED FUND MOVEMENT :
Opening
Balance
01.04.2023
£
Criminal Justice & Young Peoples' Services
-
Education and Employment Project
Shaathi Mentoring Project
-
OC Active
Osmani Centre and Central Income
58,347
Tower Hamlets Island Community
64,800
123,147		 2024
Unrestricted
Restricted
Total
Income
Income
Income
£
£
£
125,062
593,063
718,125
25,876
21,833
47,709
1,050
19,950
21,000
26,328
28,418
54,746
282,006
-
282,006
63,091
373,449
436,539
523,413
1,036,712
1,560,125
2024
Unrestricted
Restricted
Total
Expenses
Expenses
Expenses
£
£
£
529,291
529,291
33,849
33,849
19,961
19,961
40,805
40,805
413,804
10,045
423,849
382,751
382,751
413,804
1,016,702
1,430,506
Incoming
Resources
Adjustment
Resources
Expended
Fund Transfer
£
£
£
593,063
529,291
21,833
33,849
12,016
19,950
19,961
11
28,418
40,805
12,387
-
10,045
373,449
382,751
1,036,712
1,016,702
24,414		 2023
Total
Income
£
867,715
35,792
36,000
8,350
317,115
551,855
1,816,827
2023
Total
Expenses
£
615,682
130,185
69,875
69,998
189,506
540,003
1,615,249
Closing
Balance
31.03.2024
£
63,771
0
0
0
48,301
55,498
123,147 167,569

32

OSMANI TRUST LIMITED

( A Company Limited by Guarantee) Notes to the financial statements for the year ended 31 March 2024

14 TANGIBLE FIXED ASSETS: Leasehold Computer & Furniture
improvements Equipment & Fixtures Total
£
 £ £
Cost B/Fwd. 248,556 356,377 604,933
Addition 110,454 110,454
Disposal
110,454 229,911 356,377 715,387
Depreciation:
Charges B/Fwd. 195,242 291,834 487,077
Charge for the year 9,205 10,648 12,951 32,804
9,205 205,890 304,785 519,881
Net Book Value
As at 31 March 2024 101,249 24,021 51,592 195,507
As at 31 March 2023 - 53,314 64,543 117,857
15 DEBTORS & PREPAYMENTS: 2024 2023
£ £
Grants and Other Debtors 162,170 68,643
162,170 68,643
16 CREDITORS: AMOUNT FALLING DUE WITHIN ONE YEAR 2024 2023
£ £
Activity/Support cost Creditors 113,146 239,336
Hall hire deposits 3,757 26,050
Accruals and deferred income 283,607 143,546
Deferred capital grant income 10,045
PAYE and pension liabilities 16,782 14,405
427,337 423,337
17 CREDITORS: AMOUNT FALLING DUE AFTER MORE THAN ONE YEAR 2024 2023
£ £
BDP Loan 33,000 39,000
33,000 39,000
The terms of this loan (with another charitable organisation) were revised, and Osmani Trust have commenced repayments on this
loan, after the year-end.
18 STAFF EMOLUMENTS: 2024 2023
£ £
Total wages and salaries 486,366 587,763
Employer's NIC 37,353 40,615
Employer's Pension 7,543 9,098
531,262 637,476
Direct Charitable 323,273 491,427
Others 207,989 146,049
531,262 637,476
Avg No of employees: Admin 6 6
Avg No of employees: Direct 13 21
19 27
Employees paid in excess of £60,000 during the current year
and previous year None None

No remuneration was paid to any trustees during the year ended 31.03.2024 and for the year ended 31.03.2023. Individuals considered to be key management personnel were renumerated a total of £82,804 in the year. (2023: £82,779). 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 2024

19 MOVEMENT IN FUNDS:

MOVEMENT IN FUNDS:
As at 1 April 2023
Current year
Fund Movement
As at 31 March 2024		 Unrestricted
Designated
Total
Restricted
Fund
Funds
Unrestricted
Fund
Total
£
£
£
£
£
246,404
143,108
389,512
123,146
512,658
255,271
255,271
20,009
275,280
(76,813)
52,399
(24,414)
24,414
-
424,862
195,507
620,369
167,569
787,937

The immediately available unrestricted reserves of the organisation are £0.42m. The remaining £0.19m of unrestricted funds are tied up in the value of fixed assets. The currently reserves are equivalent to 6 months of operational funds.

20 Auditor's Remuneration:

muneration:
Auditor's Remuneration (incl. VAT)
Fees Payable to the auditor for non-audit services (incl. VAT)		 2024
2023
£
£
3,900
3,900
2,700
2,700

21 Taxation:

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

22 Events after the Reporting Period:

There are no significant post balance sheet events to report.

23 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 (Note 17). £6,000 was repaid during the year.

24 Contingent Liabilities:

The Company had no contingent liabilities as at 31 March 2024, nor at 31 March 2023.

25 Financial commitments:

As at 31 March 2024, the charity has annual commitments under non-cancellable operating leases as follows:

Under one year
Between 2-5 years
More than 5 years		 2024
2023
£
£
114,500
114,500
Land and buildings
-
-
-
-

26 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 763,244 102,101 - - - - - 865,345
Cash equivalents - - - - - - - -
Overdraft facility - - - - - - - -
Total cash 763,244 102,101 865,345
Loans < 1 year - 0 - - - - - -
Loans > 1 year (39,000) 6,000 - - - - - (33,000)
Finance leases - - - - - - - -
Total borrowing (39,000) 6,000 (33,000)
TOTAL 724,244 108,101 832,345

27 Grant-making

The entity spent £30,000 in grant-making during the year, as part of the THICN project. Recipients included DCO Youth Club, Beyond the Bias, TUP E CIC, Mile End Community Project, George Green School, and Leyton Orient Trust.

34