## **Newham New Deal Partnership** 

(A Company Limited by Guarantee) 

**Company No. 05033441 Charity No. 1132937** 

## **Report and financial statements** 

**For the year ended** 

**31 March 2023** 




**Newham New Deal Partnership** 

## **Report and financial statements** 

## **For the year ended 31 March 2023** 

|**Contents**||
|---|---|
||**Page**|
|**Reference and administrative information**|**1**|
|**Trustees’ annual report**|**2 - 8**|
|**Independent examiner’s report**|**9**|
|**Statement of financial activities**|**10**|
|(incorporating an income and expenditure account)||
|**Balance sheet**|**11**|
|**Notes to the financial statements**|**12 - 18**|





**Newham New Deal Partnership** 

## **Reference and administrative information** 

## **For the year ended 31 March 2023** 

|**Trustees:**|Fay Cannings (resigned May 2023)|
|---|---|
||Farzana Chowdhuri|
||Amalia Loizidou (appointed October 2022)|
||James Robert Ludlam, JP (Chair)|
||Jean Ludlam|
||Jaston Rodrigues|
||Eloise Swales (appointed October 2022)|
||Hazel Taverner (Hon. Treasurer)|
|**Company Secretary:**|Fiona Baird|
|**Chief Executive:**|Fiona Baird|
|**Company number:**|05033441|
|**Charity number:**|1132937|
|**Registered office:**|Unit 9, Third Floor|
||St Luke’s Community Centre|
||85 Tarling Road|
||London E16 1HN|
|**Auditors:**|Goldwins Limited|
||75 Maygrove Road|
||West Hampstead|
||London NW6 2EG|
||www.goldwins.co.uk|
|**Bankers**|The Co-operative Bank|
||PO Box 250|
||Skelmersdale|
||WN8 6WT|
|**Solicitors**|Trowers & Hamlins LLP|
||3 Bunhill Row|
||London|
||EC1Y 8YZ|



Page | 1 



**Newham New Deal Partnership** 

## **Report of the Trustees** 

## **For the year ended 31 March 2023** 

The trustees, who are also directors under company law, present their report and financial statements for the year ended 31 March 2023. 

The trustees confirm that the financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102. 

## **Purposes and aims** 

The Charity is registered as a charitable company limited by guarantee no.05033441. It is constituted under a Memorandum of Association dated 24[th] November 2009, as registered charity number 1132937. 

The charity’s purposes as set out in the objects contained in the company’s memorandum of association are the promotion for the benefit of the public of urban or rural regeneration in areas of social and economic deprivation in the Newham and surrounding areas by all or any of the following means: 

- (A) the relief of financial hardship; 

- (B) the relief of unemployment; 

- (C) the advancement of education, training or retraining, particularly among unemployed people, and providing unemployed people with work experience; 

- (D) the provision of financial assistance, technical assistance or business advice or consultancy in order to provide training and employment opportunities for unemployed people in cases of financial or other charitable need through help; (i) in setting up their own business, or (ii) to existing businesses; 

- (E) the creation of training and employment opportunities by the provision of workspace, buildings, and/or land for use on favourable terms; 

- (F) the provision of housing for those who are in conditions of need and the improvement of housing in the public sector or in charitable ownership; 

- (G) the maintenance, improvement or provision of public amenities; 

- (H) the preservation of buildings or sites of historic or architectural importance; 

- (I) the provision of recreational facilities for the public at large or those who by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances, have need of such facilities; 

- (J) the protection or conservation of the environment; 

- (K) the provision of public health facilities and childcare; 

- (L) the promotion of public safety and prevention of crime; 

The Trustees have had regard to the Charity Commission’s guidance on public benefit. 

The mission of the charity is to help and support individuals, groups and communities to meet their social and economic needs by developing control over their health and wellbeing, and their physical, social and economic environment. 

We do this by delivering projects which: 

Page | 2 



**Newham New Deal Partnership** 

## **Report of the Trustees** 

## **For the year ended 31 March 2023** 

- Build aspiration and resilience through learning, work experience, and opportunities to support others locally; 

- Inspire creative engagement and local sense of place; 

- Enable people of all ages to have greater choice and control over their own futures and to be prepared to support their neighbours to do so too. 

During the accounting period the charity achieved this through delivery of its Good Neighbours services which support older and disabled people, particularly people with dementia and their carers. 

## **Overview** 

We were pleased to report a stable year, with income in place to maintain and successfully deliver our core services through our existing staff and volunteer team. With the Consumer Retail Index reaching 10.5% in the twelve months to December 2022, cost of living pressures affected our clients and our operations.  With regard to the former, we saw an increase in requests for support in accessing welfare benefits, foodbanks, and more complex financial cases. With regard to the latter, unfortunately, our multiple year funding agreements did not take account of inflation. However, we were able to give staff a small uplift in salaries in April 2022, partly through accessing reserves. 

Newham New Deal Partnership’s CEO is a Trustee of One Newham, the voluntary and community sector’s network organisation.  Following a competitive process, we were pleased to be selected by One Newham as the host organisation for a pilot project to reduce health inequity in Newham, working with local grass roots organisations (Newham Health Equity project).  The first tranche of grant funding for this was received in financial year 2022/23. 

## **Achievements and performance** 

The objectives in the current strategic plan include: 

- To provide person-centred services and practical support for isolated elders and people with disabilities, including people with dementia and their carers, particularly in Newham 

- To deliver the very best in volunteer supported assistance for socially isolated elders and disabled people 

- To maintain working relationships with community sector partners and funders in surrounding boroughs (Tower Hamlets and Hackney) 

- To deliver arts and place making projects that engage the aspirations and interests of local communities. 

## **Good Neighbours services** 

## _Newham Community Dementia Memory Support Service_ 

London Borough of Newham commission this service. We provide a community information, advice and signposting service by telephone, face to face and home visits, for Newham residents living with dementia and their carers, in order that they could continue to live at home independently and as well as possible.  Our Support Workers help customers to understand their diagnosis, and provide practical advice, information and support on advance planning, and refer customers on to social services and other organisations as appropriate. 

Page | 3 



**Newham New Deal Partnership** 

## **Report of the Trustees** 

## **For the year ended 31 March 2023** 

An important additional element of the service is group activity. We restarted face to face Music for the Mind and Memory Café services, which provide peer support, social activities, exercise and cognitive stimulation for people living with dementia, including carers. 

The service had 132 new referrals in the year, as well as providing ongoing support for past clients. Our regular information Bulletin is received by over 150 customers. 

Around two-thirds of referrals are residents who are over 75 years of age.  Clients from Black Caribbean/Black African groups make 32% of referrals, White/White other groups make 31% of referrals and Asian Groups 27% of referrals. 

The Dementia Support team participated in Dementia Action Week in May, and Dementia Awareness month in September, through running stalls and social media engagement. 

## _Good Neighbours services – Information and case work project_ 

The Good Neighbours case work project provides one-to-one intensive support for people with progressive diseases, particularly dementia, and their older carers, especially the most financially vulnerable or socially isolated at a critical time of their lives when intervention can make a big difference. For example, when a diagnosis of dementia has just been made, when there is a change in financial circumstances, or when physical or mental disabilities increase and additional help is needed. The service in particular aims to reach minoritised communities. 

In 2022 the part-time Advisor supported 45 people, mainly on claiming benefits for the first time, benefits appeals and housing appeals. 85% of clients were from non-White backgrounds. 

Accessing financial benefits is a particular issue for people with dementia and their older carers in Newham, which has very high levels of pensioner poverty. This has been particularly so in the past year, with the cost of living crisis, and we have had to manage a waiting list to deal with demand. 

Almost all clients understood locally available help that they could access to make informed choices about their situation at the end of our intervention, and almost all felt more able to manage at home as a result of the intervention. Two thirds felt safer and 60% felt that they had increased their support network. 

## _Good Neighbours services - @online club network for older people_ 

East London has high levels of digital exclusion amongst older people and this presents barriers to acting independently and accessing services. The aim of @online club network is to increase the confidence of older people to go online after completion of an eight-week training programme, in an enjoyable, social environment. We have high levels of customer satisfaction and achievement for the service. 

We continued to work with Tower Hamlets voluntary and community sector partners, including Sonali Gardens, MIND and Tower Hamlets Carers Centre to provide digital inclusion programmes at their premises. As a result we delivered programmes to 37 older residents, the majority of which were from BAME backgrounds. 

Page | 4 



**Newham New Deal Partnership** 

## **Report of the Trustees** 

## **For the year ended 31 March 2023** 

We were able to undertake several @online digital health and life skills programmes in Newham, firstly through the Newham Mental Health Grant which reached 22 Newham residents, and secondly through Lyles Local fund, which recruited 17 residents. 

## **Arts and heritage** 

We accepted the Heritage Lottery Fund’s offer to work with us as part of a cohort of Newham charities to develop a heritage project for funding, and will be submitting a bid to engage our stakeholders in celebrating our history and achievements as a charity in 2023/24. 

## **Volunteers** 

Newham New Deal Partnership is a volunteer-involving organisation which actively engages volunteers to support its charitable activities through a range of specialist opportunities in health, social care, and IT, underpinned by training, supervision and support.  For many volunteers, the placements develop skills, confidence and self-esteem, as well as providing routes into training, education and meaningful and sustainable employment.  Volunteers are offered expenses – subsistence and travel costs – as well as access to internal and external training courses. We note that many volunteers waive their entitlement to expenses. 

We had regular nine volunteers who supported the charity’s delivery of Music for the Mind, Memory Café, and digital inclusion sessions. Most have been with us for at least two years.  Their skills and contribution to the atmosphere of the sessions is vital, and we thank them. 

## **Partnership working** 

Newham New Deal Partnership continued to play an active role in the voluntary and community sector in the Borough. The CEO is a Trustee of One Newham, a network of voluntary, community and faith groups that are rooted in local communities and work to improve the lives of people in Newham.  The charity continues to be an active member of Creative Newham, an independent alliance of arts, cultural, educational, social and voluntary organisations committed to growing and strengthening cultural mobility in all its forms in Newham. 

## **Financial review** 

The charity returned a modest net income for the year, before the application of free reserves. It increased its income slightly from the previous year as it was able to find new funders for digital inclusion services, as well as start a new project; expenditure levels increased by a similar amount. 

Overall, free reserves were reduced a little and represent four months’ expenditure. The charity’s ability to maintain longer term funding streams for current projects will continue to be a challenge and a priority in the highly competitive funding environment both locally and nationally. Where possible, the charity is also including realistic cost of living rises in multi-year funding applications. 

Page | 5 



**Newham New Deal Partnership** 

## **Report of the Trustees** 

## **For the year ended 31 March 2023** 

## **Reserves policy** 

In 2016/17 the Trustees designated £30,000 of reserves for charity restructuring or in a worst case scenario closure costs.  The Trustees intend to review this in the forthcoming year. 

## **Going concern** 

At the present time the Trustees have a reasonable expectation that the charity has adequate resources to continue to operate.  For this reason, they continue to adopt the going concern basis in preparing the financial statements. 

## **Principal risks and uncertainties** 

The charity has an operational and business strategy in place which takes account of the risks to which the charity is exposed, and how to mitigate them.  It monitors income and expenditure on a quarterly basis. Cashflow is monitored on a monthly basis. Internal control risks are minimised by the implementation of financial procedures for the authorisation of all transactions and projects. 

The charity reviews its Health and Safety policy once a year; this covers staff and volunteer safety when working both in and outside the office. Procedures are in place to ensure compliance with health and safety of staff, volunteers, clients and visitors.   The CEO reports on the status of funding bids at every Board meeting. 

## **Plans for the future** 

The charity continued to prioritise funding for current and future services which reduce social isolation and support the independence of older people and people with disabilities, as well as to find more funding for arts and heritage projects which support the engagement of local people and local place making.  Consultations are planned with customers, clients, funders and other stakeholders in the financial year 2023/24 in order to develop a refreshed strategy for 2024/25-27/28. 

## **Structure, governance and management** 

The Charity is registered as a charitable company limited by guarantee no.05033441.  It is constituted under a Memorandum of Association dated 24[th] November 2009, as registered charity number 1132937. 

The Board meets approximately five times a year to approve the annual operational plan and budget, the independently examined accounts, updated policies and procedures (including annual reviews of the H&S policy and financial policy), and to review how the organisation is achieving the annual plan.  The Board also meets once a year at a Board Awayday to discuss and review strategic issues. 

The Chief Executive is responsible for the day to day running of the charity, and is line managed by the Chair. In addition to the Chief Executive, Newham New Deal Partnership had one full time and three part-time staff 

Page | 6 



**Newham New Deal Partnership** 

## **Report of the Trustees** 

## **For the year ended 31 March 2023** 

posts over the period. The charity has outsourced its payroll, HR and H&S functions, and uses a freelance bookkeeper. 

## **Appointment of Trustees** 

The Board comprises directors who are elected for a period of three years in the first instance. The charity periodically undertakes a review of skills and experience required of the Board, and identifies any gaps for recruitment. Following a recruitment programme, two new Trustees were appointed in 2022, and we accepted the resignation of one long-standing Trustee. 

## **Trustee induction and training** 

Potential Trustees are encouraged to learn about the charity in advance of appointment.  On appointment, new Trustees have a familiarisation programme appropriate to their needs, which will include briefings with the Chair and CEO, and project visits as well as the provision of a documentation pack which includes information on the role of the Trustee and key internal charity documents, including the governing instrument. 

The Board of Directors comprised seven local people with business, financial, and management skills, plus knowledge of the local community, and lived experience as patients and carers.  Trustees are encouraged to attend the charity’s projects as observers and volunteers. 

## **Related parties and relationships with other organisations** 

There were no related party transactions by Newham New Deal Partnership’s Trustees in 2022/23. 

## **Statement of responsibilities of the trustees** 

The trustees (who are also directors of charitable company for the purposes of company law) are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

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

- Select suitable accounting policies and then apply them consistently 

- Observe the methods and principles in the Charities SORP 

- Make judgements and estimates that are reasonable and prudent 

- State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements 

- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation 

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the 

Page | 7 



Newham New Deal Partnership
Report of the Trustees
For the year ended 31 March 2023
charitable company and hence for taking reasonable steps for Ihe prevention and detection of fraud and other
irregularities.
The trustees are responsible for the maintenance and inlegrily of the corporate and financial infomalon
included on the Gharitabl8 company's website. Legislation in the United Kingdom gov@rning the preparation
and dissemination of financial ststemen15 may differ from legislation in other jurisdictions.
Members of the charity guarantee lo contribute an amount not exceeding £1 to the assels of the charity in the
event of winding up. The total number of such guarantees at 31 March 2023 was 712022- 61. The trustees are
members of the charity but this entitles them only lo voting rights. The trustees have no beneficial interest In
the charty.
statement as to dlsclosure to our Independent examlners
In so far as the trustees arg aware..
There is no relevant audit informabon of which the charitable company's independent examiners are
unaware., and
The trustees have taken all steps that they ought to have laken to make themselves aware of any relevant
audit infomiation and lo establish that the independent examiners are aware of that information.
The tnjstees, annual report has been approved by the trustees on .
and signed on their behalf by.,
James Robert Ludlam. JP
Chair of Trustses
Page | 8

**Independent examiner’s report** 

## **To the members of Newham New Deal Partnership** 

## **For the year ended 31 March 2023** 

I report on the accounts of the Newham New Deal Partnership for the year ended 31 March 2023, which are set out on pages 10 to 18. 

## **Respective responsibilities of trustees and examiner** 

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts.  The trustees consider that an audit is not required for this period under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. 

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to: 

- examine the accounts under section 145 of the 2011 Act; 

- to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and 

- to state whether particular matters have come to my attention. 

## **Basis of independent examiner’s report** 

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records.  It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters.  The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below. 

## **Independent examiner’s statement** 

In connection with my examination, no matter has come to my attention: (1) which gives me reasonable cause to believe that in any material respect the requirements: 

   - to keep accounting records in accordance with section 386 of the Companies Act 2006; and 

   - to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or 

- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. 


## **Anthony Epton BA, FCA, CTA, FCIE** 

## **Goldwins** 

## **Chartered Accountants** 

**75 Maygrove Road West Hampstead London NW6 2EG** 

> **2023 13 October** 

Page | 9 



## **NEWHAM NEW DEAL PARTNERSHIP** 

## **Statement of financial activities** 

(incorporating an income and expenditure account) 

## **For the year ended 31 March 2023** 

|**Note **<br>**Income from:**<br>Donations<br>Charitable activities<br>**3**<br>Investment income<br>**4**<br>**Total income**<br>**Expenditure on:**<br>Charitable activities:<br>**5**<br>**Total expenditure**<br>**6**<br>Transfers between funds<br>**Reconciliation of funds:**<br>Total funds brought forward<br>**Total funds carried forward**<br>**12**<br>**Net income / (expenditure) for the year**<br>**Net movement in funds**|**Unrestricted**<br>**funds**<br>**£**<br>1,593<br>78,170<br>-<br>**79,763**<br>87,970<br>**87,970**<br>**(8,207)**<br>-<br>**(8,207)**<br>**72,866**<br>**64,659**|**Restricted**<br>**funds**<br>**£**<br>-<br>98,045<br>-<br>**98,045**<br>76,439<br>**76,439**<br>**21,606**<br>-<br>**21,606**<br>**22,036**<br>**43,642**|**2023**<br>**Total**<br>**funds**<br>**£**<br>**1,593**<br>**176,215**<br>**-**<br>**177,808**<br>**164,409**<br>**164,409**<br>**13,399**<br>**-**<br>**13,399**<br>**94,902**<br>**108,301**|2022<br>Total<br>funds<br>£<br>2,800<br>161,119<br>-|
|---|---|---|---|---|
|||||163,919|
|||||156,158|
|||||156,158|
|||||7,761<br>-|
|||||7,761<br>87,141|
|||||94,902|



All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. The attached notes form part of these financial statements. 

Page | 10 



NEWHAM NEW DEAL PARTNERSHIP
Balance sheet
As at 31 March 2023
2023
2023
2022
2022
Note
Current assots:
Debtors
Cash al bank and in hand
4,725
109,288
114,013
4,250
96,389
100,639
Llabilities-
Cr8ditors.' amounts falling due within one year
10
5.712
5.737
Net current assets
108.301
94,g02
Totsl net assets
108,301
94,902
Funds
Reslricled fvnds
43.642
22,036
Unrestricted funds..
Designated funds
General funds
Total unreslricled funds
30,000
34,659
30,000
42,866
64,659
72.866
Total funds
12
108.301
94.902
The Trustees consider that the company is entitled lo exemption from the requirement lo have an audit under the
provisions of section 477 of Ihe Companies Act 20061"Ihe Act") and members have not required the company to
obtain an audit for the year in questlon in accordance wth section 476 of the Act.
The Trustees acknowledge their responsibilities for ensuring that the company keeps accounting records whiGh
comply with section 386 of the Act and for preparlng financial statements which give a true and fair view of the
state of 8ff8irs of the company as at 31 March 2023 and of its profil or loss for the year then ended in accordance
th the requirements of sects'ons 394 and 395 of the Act and which otherwise comply with the requirements of the
Companies Act 2006 relating to the financral statements 50 far as applicable to the company.
The financial statements have been prepared in accordance with the special provisions for small companies under
Part15 of the Companies Act 2006.
Approved by the trustees on
and signed on their behalf by..
James Robert Ludlam. JP {Chair}
Trustee
Company registration no. 05033441
The attached notes fomi part of the financial statements.
Page | I

**NEWHAM NEW DEAL PARTNERSHIP Notes to the financial statements For the year ended 31 March 2023** 

## **1 Accounting policies** 

## **a) Basis of preparation** 

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102 - effective 1 January 2015) - (Charities SORP FRS 102) and the Companies Act 2006. 

The charitable company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note. 

## **b) Going concern** 

The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period. 

## **c) Income** 

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably. 

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income received in advance for the provision of specified service is deferred until the criteria for income recognition are met. 

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material. 

## **d) Donations of gifts, services and facilities** 

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution. 

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. 

## **e) Interest receivable** 

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. 

Page | 12 



**NEWHAM NEW DEAL PARTNERSHIP Notes to the financial statements For the year ended 31 March 2023** 

## **1 Accounting policies (continued)** 

## **f) Fund accounting** 

Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity. 

## **g) Expenditure and irrecoverable VAT** 

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings: 

- Costs of raising funds comprise of trading costs and the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose. 

- Expenditure on charitable activities includes the costs incurred to further the purposes of the charity and their associated support costs. 

- Other expenditure represents those items not falling into any other heading. 

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. 

## **h) Allocation of 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, payroll and governance costs which support the charity's activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. 

## **i) Operating leases** 

Rental charges are charged on a straight line basis over the term of the lease. 

## **j) Tangible fixed assets** 

Items of equipment are capitalised where the assets is expected to have a usefull life of more than three years. Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows: 

Fixtures and fittings 5 Years SL Computer equipment 4 Years SL 

## **k) Debtors** 

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 

## **l) Cash at bank and in hand** 

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 

## **m) Creditors and provisions** 

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 

Page | 13 



## **NEWHAM NEW DEAL PARTNERSHIP Notes to the financial statements** 

## **For the year ended 31 March 2023** 

## **2 Detailed comparatives for the statement of financial activities** 

|**Income from:**<br>Donations<br>Charitable activities: Grants receivable<br>Investment income<br>**Total income**<br>**Expenditure on:**<br>Charitable activities<br>**Total expenditure**<br>**Net income / (expenditure) for the year**<br>Transfers between funds<br>**Net movement in funds**<br>Total funds brought forward<br>**Total funds carried forward**<br>**3**<br>**Income from charitable activities**<br>Grant income<br>Other income<br>**Total for charitable activities**<br>**4**<br>**Income from investments**<br>Bank interest|Unrestricted<br>£<br>-<br>78,170<br>78,170<br>Unrestricted<br>£<br>-<br>-|2022<br>£<br>2,800<br>78,161<br>-<br>80,961<br>69,277<br>69,277<br>11,684<br>**-**<br>11,684<br>61,182<br>72,866<br>£<br>98,045<br>-<br>98,045<br>£<br>-<br>-<br>Restricted<br>Restricted<br>Unrestricted|2022<br>£<br>-<br>82,958<br>-<br>82,958<br>86,881<br>86,881<br>(3,923)<br>**-**<br>(3,923)<br>25,959<br>22,036<br>**2023**<br>**Total**<br>**£**<br>**98,045**<br>**78,170**<br>**176,215**<br>**2023**<br>**Total**<br>**£**<br>**-**<br>**-**<br>Restricted|2022<br>Total<br>£<br>2,800<br>161,119<br>-|
|---|---|---|---|---|
|||||163,919<br>156,158|
|||||156,158|
|||||7,761<br>-|
|||||7,761<br>87,141|
|||||94,902|
|||||2022<br>Total<br>£<br>82,958<br>78,161|
|||||161,119|
|||||2022<br>Total<br>£<br>**-**|
|||||-|



Page | 14 



**NEWHAM NEW DEAL PARTNERSHIP** 

**Notes to the financial statements** 

## **For the year ended 31 March 2023** 

## **5 Analysis of expenditure** 

|Basis of<br>allocation<br>Premises costs<br>Space<br>IT costs<br>Direct<br>Other office costs<br>Direct<br>Project and grant expenses<br>Direct<br>Bank charges<br>Direct<br>Insurance costs<br>Direct<br>Marketing<br>Direct<br>Legal and professional fees<br>Direct<br>Staff costs<br>Staff time<br>Independent examination<br>Direct<br>Bookkeeping<br>Direct<br>Other expenses<br>Direct<br>Support costs<br>Governance costs<br>**Total expenditure 2023**<br>Total expenditure 2022|Charitable<br>activities<br>£<br>-<br>-<br>-<br>12,267<br>-<br>1,144<br>-<br>-<br>131,197<br>-<br>-<br>-<br>144,608<br>18,017<br>1,784<br>**164,409**<br>156,158|Support<br>costs<br>£<br>£<br>6,912<br>-<br>2,224<br>-<br>4,250<br>-<br>-<br>-<br>-<br>44<br>-<br>-<br>160<br>-<br>1,724<br>-<br>-<br>-<br>1,740<br>2,747<br>-<br>-<br>-<br>18,017<br>1,784<br>(18,017)<br>(1,784)<br>**-**<br>**-**<br>-<br>-<br>Governance<br>costs|**2023**<br>**Total**<br>**£**<br>**6,912**<br>**2,224**<br>**4,250**<br>**12,267**<br>**44**<br>**1,144**<br>**160**<br>**1,724**<br>**131,197**<br>**1,740**<br>**2,747**<br>**-**<br>**164,409**<br>**-**<br>**-**<br>**164,409**|2022<br>Total<br>£<br>6,977<br>1,858<br>6,811<br>9,634<br>48<br>1,105<br>144<br>2,409<br>122,518<br>1,600<br>3,054<br>-|
|---|---|---|---|---|
|||||156,158<br>-<br>-|
||||||
|||||156,158|



Of the total expenditure, £87,970  (2022: £69,277) was unrestricted and £76,439 (2022: £86,881) was restricted. Support and governance costs are allocated across activities based on staff time spent. 

Page | 15 



**NEWHAM NEW DEAL PARTNERSHIP Notes to the financial statements For the year ended 31 March 2023** 

## **6 Net income / (expenditure) for the year** 

|This is stated after charging / (crediting):<br>Independent examiners fees|**2023**<br>2022<br>**£**<br>£<br>**1,417**<br>1,300|
|---|---|



## **7 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel** 

|Staff costs were as follows:<br>Salaries and wages<br>Social security costs<br>Pension contributions<br>Other costs|**2023**<br>2022<br>**£**<br>£<br>122,685<br>112,681<br>6,208<br>6,301<br>1,833<br>1,660<br>471<br>1,876|
|---|---|
||**131,197**<br>122,518|



None of the employees were paid a remuneration equal to or more than £60,000 in the year (2022: Nil). 

The total employee benefits including pension contributions of the key management personnel were £49,320  (2022: £45,312). 

The charity trustees were not paid or received any other benefits from employment with the charity. 

## **Staff numbers** 

The average number of employees (head count based on number of staff employed) during the year was as follows: 

|was as follows:||
|---|---|
|Charitable activities<br>Support|**2023**<br>2022<br>**No.**<br>No.<br>4<br>4<br>1<br>1|
||**5**<br>5|



## **8 Taxation** 

The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. 

## **9 Debtors** 

|Trade debtors<br>Prepayments|**2023**<br>2022<br>**£**<br>£<br>2,905<br>3,105<br>1,820<br>1,145|
|---|---|
||**4,725**<br>4,250|



Page | 16 



**NEWHAM NEW DEAL PARTNERSHIP Notes to the financial statements For the year ended 31 March 2023** 

## **10 Creditors: amounts falling due within one year** 

|Trade creditors<br>Taxation and social security<br>Accruals|**2023**<br>2022<br>**£**<br>£<br>**1,503**<br>1,436<br>**2,509**<br>2,741<br>**1,700**<br>1,560|
|---|---|
||**5,712**<br>5,737|



## **11 Analysis of net assets between funds** 

|**Analysis of net assets between funds**||
|---|---|
|Net current assets<br>**Net assets at the end of the year**<br>**Analysis of net assets between funds 2022**<br>Net current assets<br>**Net assets at the end of the year**|General<br>unrestricted Designated Restricted<br>**Total**<br>**funds**<br>£<br>£<br>£<br>**£**<br>34,659<br>30,000<br>43,642<br>**108,301**|
||**34,659**<br>**30,000**<br>**43,642**<br>**108,301**|
||General<br>unrestricted Designated Restricted<br>Total<br>funds<br>£<br>£<br>£<br>£<br>42,866<br>30,000<br>22,036<br>94,902|
||42,866<br>30,000<br>22,036<br>94,902|



## **12 Movements in funds** 

|**Restricted funds:**<br>Lyle's Local Fund<br>Lloyds Bank Covid19 fund<br>LB of Tower Hamlets<br>Newham Mental Health Grant<br>Health Equity Grant<br>Henry Smith<br>**Total restricted funds**<br>**Unrestricted funds:**<br>**Designated funds**<br>**General funds**<br>**Total unrestricted funds**<br>**Total funds**<br>East End Community Foundation –<br>Life Chances Campaign|At the start<br>of the year<br>Income Expenditure<br>Transfers<br>At the end<br>of the year<br>£<br>£<br>£<br>£<br>**£**<br>-<br>5,945<br>-<br>-<br>**5,945**<br>-<br>2,430<br>-<br>-<br>**2,430**<br>2,826<br>-<br>-<br>-<br>**2,826**<br>1,545<br>19,520<br>22,022<br>-<br>**(957)**<br>6,700<br>-<br>6,700<br>-<br>**-**<br>-<br>30,000<br>5,820<br>-<br>**24,180**<br>10,965<br>40,150<br>41,897<br>-<br>**9,218**|
|---|---|
||**22,036**<br>**98,045**<br>**76,439**<br>**-**<br>**43,642**|
||30,000<br>-<br>-<br>-<br>**30,000**<br>42,866<br>79,763<br>87,970<br>-<br>**34,659**|
||**72,866**<br>**79,763**<br>**87,970**<br>**-**<br>**64,659**|
|||
||**94,902**<br>**177,808**<br>**164,409**<br>**-**<br>**108,301**|



Page | 17 



**NEWHAM NEW DEAL PARTNERSHIP Notes to the financial statements For the year ended 31 March 2023** 

Movements in funds 2022 

|**Restricted funds:**<br>Connect Hackney<br>Lloyds Bank Covid19 fund<br>LB of Tower Hamlets<br>Newham Mental Health Grant<br>Henry Smith<br>**Total restricted funds**<br>**Unrestricted funds:**<br>**Designated funds**<br>**General funds**<br>**Total unrestricted funds**<br>**Total funds**|At the start<br>of the year<br>Income Expenditure<br>Transfers<br>At the end<br>of the year<br>£<br>£<br>£<br>£<br>£<br>1,405<br>19,088<br>20,493<br>-<br>**-**<br>5,840<br>-<br>3,014<br>-<br>**2,826**<br>5,464<br>19,520<br>23,439<br>-<br>**1,545**<br>-<br>6,700<br>-<br>-<br>**6,700**<br>13,250<br>37,650<br>39,935<br>-<br>**10,965**|
|---|---|
||**25,959**<br>**82,958**<br>**86,881**<br>**-**<br>**22,036**|
||30,000<br>-<br>-<br>-<br>**30,000**<br>31,182<br>80,961<br>69,277<br>-<br>**42,866**|
||**61,182**<br>**80,961**<br>**69,277**<br>**-**<br>**72,866**|
|||
||**87,141**<br>**163,919**<br>**156,158**<br>**-**<br>**94,902**|



## **Restricted funds:** 

East End Community Foundation – Life Chances Campaign: grant to develop digital skills for health and wellbeing for older people. 

Lyles Local Fund: grant for digital life skills training for older people in Newham. 

Health Equity Grant: to host, deliver and. evaluate a learning project to support health equity in three community groups in Newham. 

Lloyds Bank Covid19 fund: grant to develop volunteering and digital capacity. 

LB of Tower Hamlets: funding to deliver @online club programme in Tower Hamlets. 

Newham Mental Health Grant: grant for digital inclusion and signposting for older residents. 

Henry Smith: grant towards the salary of a part-time specialist dementia case worker. 

## **13 Legal status of the charity** 

The charity is a company limited by guarantee and has no share capital. Each member is liable to contribute a sum not exceeding £1 in the event of the charity being wound up. 

## **14 Related party transactions** 

There are no related party transactions to disclose for 2023 (2022: none). 

Page | 18