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 2024 I GOLDWINS LFI Il.,tlEi,'ILI IICQI
Newham New Deal Partnership Report and financial statements For the year ended 31 March 2024 Contents Page Reference and administratlve infonnation Trustees, annual report Independent examinerfs report 10 Statement of flnancial actlvities (incorporating an income and expenditure account) 11 Balance sheet 12 Notes to the flnanclal statements 13-19
Newham New Deal Partnership Reference and admlnistrative infOrntIOn For the year ended 31 March 2024 Trustees: Margit Bieliczsky (elected October 2024) Farzana Chowdhuri Keith Cranwell (coopted July 2024. elected October 2024 Amalia LoEidou James Robert Ludlam. JP {Chair) Jean Ludlam Jasfion Rodrigues Eloise Swales Hazel Tavemer (Hon. Treasurer) C4)mpany Socr•tary: Fiona Baird chi Ex•cutlv•: Fna Baird Company number 05033441 Charfty numbor: 1132937 Reglstored ¢)fflc•: Unit 9. Third Floor st Luke's Communty Centre 85 Tarling Road London E16 1HN Audltorn: Goldwins Llmlted 75 Maygrove Road West Hampstead London NW6 2EG vMw.goldwins.co.uk Bankers The CtroperatNe Bank PO Box 250 Skelmersdale WN8 6wr Soli¢itorn Trowers & Hamlins LLP 3 Bunhill Row London EC1Y 8YZ Pagel I
Newham New Deal Partnership Report of the Trustees For the year ended 31 March 2024 The trustees, who are also directors urKler company law. present their report and financial statements for the year ended 31 March 2024. The trustees confinn that the financial statements compty current statutory requlrernents. the memorandum and articles of association arKI the Statement of Recommended Practice - Accounling and Reporting by Charilies: SORP applicable to charilies pparIng their aceA)unts in accordance with FRS 102. Purpos•s and alms The Charity is registered as a charitable company limited by guarantee no.05033441. It is constituted under Memorandum of Association dated 24th Nov6mber 2009, as registsred charity number 1132937. The charity's purposes as set out in the objects contsined in the CoMpanS rnemorandum of assoclation are the promollon for the benefft of the public of urban or rural regeneration in areas of social and economic deprivation in the Newham and sum)unding areas by all or any of the following means: (A) tha relief of financial hardshlp: (B) the relief of unemployment: (C) the advancement of education, training or retraining, parlIlarty among unemployed peopla, and providlng unemployed people with work experience; (D) the provision of financial assistance, technical asslstance or buslness advice or consuftancy in order to Fxovide training and employment opportunities for unemployed people in cases of financial or other chaiitable need through help; (l) in setting up tsir own business, or (li) to existing busin8ss8s: {E) the creation of training and employment opportunities by the provision of workspace, buildin. andlor land for use on favourable terms; (F) the provision of housing for those who are in conditions of need and the Improvement of housirvJ in th& public sector or in charitable ownership: (G) Ihe maintsnance, improvement or provision of publlc amenities,. {H) the preservalion of buildings or sites of hisloric or architectural importance; (i) the provision of recreational facilities for the public at large or those WI by reason of their youth, age. infirmty or disablement, financial hardship or soci81 and OfA)nomlc circumstances, have need of such facilities: (J) the protection or conservalion of the environment: (K) the provision of public health facililies arKI thildcara; (L) the prothotion of public safety and prevention of crime: such other means as may from time to time be detemiined subject to th8 prior written consent of the Charity Commissioners for England and Wales. The Trustees have had regard to the Charity Commission's guidance on public benefft. The mission of the charity is to help and support individuals, groups and communities to meet It1r social and economic needs by developing control over their heallh and wellbeing. and their physical. social and economic environmenL Page12
Newham New Deal Partnership Report of the Trustees For the year ended 31 March 2024 We do this by dellvering projects which". Build aspiration and resilience through leaming, work experience. and opwrtunities to support others locally: Inspire creative engagement and local sense of place; Enable people of all ages lo have greater choice and control over tt1r own fUreS and to be prepared to support their neighbours to do so too. Durtng the accounting period th8 charity achieved this mainly through delivery of Its Good Neighbours services which support older and disabled people. particularly people with dementia and their carers. Overvlew We are pleased to roport a positive financial year. with inrne In place to maintaln and successfully deliver our core services through our exSsting staff and volunteer team. It was a busy year as we were the host organlsallon of a collaborative heallh equty demonstrator project for One Newham, the voluntary, communlty and falth sector membership organlsatlon for Newham. Our role was to support local community organlsations Salem Health. Hearrogether and Blossorn Place to make a difference to the heatth 0cOMeS of their clients. In January we started our heritage project- Cydes of Change- which will create volunteering and parlicipatory opportunilies to leam arKI prdctlce heritage skills and record and share the histories of local people with some conneclion to the charity over an 18-month period culminatlng in a celebration the charitys 21 years. Unfortunately al the end of 2023 we learnt that we had been unsuccessful in securing follow-on fundlng for our dlgital lrfe skills group training seNice. which wé had been delivering in Tower H8mlets since 2019, with th& result that a core staff mèmber was made redundant. The charity has delivered digital skills training in 8 soclal, groups environment slnce 2012, mainty to older people. Transacting online Is now an essential lrfe skill. not only for working-age residents, but for anybody who needs to claim benefits or access olher suppcKt. We wlll continue to look for funding opportunities to share our leaming and delNer the model we have delivered so successfvlly over 12 years. Looking ahead. we were able to gain one-year funding to continue our Social Welfare Benefits Advice service for older people living with dementia. whilst we apply for longer term support. We were also able to find additional fundiThJ to expand opportunities for people living with dementia to live well in the community Achievomants and perforniance The objectivas in the cuTnt strategic plan include: To Provide person-centred services and practical support for Isolated elders and people with disabilities. including people wilh dementia arKI their carets, particularly in Nevknam To deliver the very best in volunteer supp(xt8d assistan for socially isolated elders and disabled people To maintsin working relationships with community sed(w parlners and funders To deliver arts and place making projects Ihat engage the aspirations and Interests of local communibes. Page13
Newham New Deal Partnership Report of the Trustees For the year ended 31 March 2024 Good N•ighbours s•rvlcas Newham Community Dementia Memory Support SeThice London Bor(wh of Newham commissions this service. We provKle a ¢x>mmunity infomiation. advice and signposting servic8 by telephone. face lo face and h(xne visits. for Newham residents living with demenlia arKI their carers, in order that they can continue to live at home irKleperKlently and as well as possible. Our Support Workers help customers to und8rsland their diagnosis. Fyovide practical advice, information and supp(wt on advance planning, and refer customers on to soclal services and other organisations as appropriate. An important addItn81 element of the service is group activity. Our Music for the Mind and MeThw)ry Café seNices, provide peer support, social activStss. exwdse and cognitiv8 Stlmulation for people INing with dementia, including carers. Both services had a steady increase in participant numbers over the 12 months. Indeed. the Music for the Mind s&8sions often attracted over 25 participants per session, and w8 are activety l¢x)king for new fundlng opportunities to extend opportunitles for group engagement arHI pear suppor( which our customers clearly like and from which they benefit. The Information and advic8 service had 139 new referrals in tha y8ar. as well as providing ongolng support for past clients. Everyone registered with the service receives a regular infornation Bulletin. The average age of referrals to the seNice18 79 years of age. Two thirds of referrals were from South Asian. Black Caribb&anlBlack African other minoritised communilies. The Dementia Support team participatèd In Dementia Action Week in May, and Demenlia Awargness month in September, through runniffj stalls and Social medla engagement. Good NeIghbOu swices- InfomJ8tion and case prop The Good Neighbours case work project provides one-tOne intensive support for people with progressive diseases, parlicularty dementia, and their older carers, especially the most financially vulnerable or socially isolated at a crilical time of thelr lives when intervention can make a blg difference. For example, when diagnosis of dementia has just been made. when there is a thange in financial circumstances, or when physical or mental disabilities increase and additional help is needed. The service in parttcular aims to reach minorilised communities. In the final year of the three-year granl from Henry Smith, due to additional funding from Together for LorKlon for additional worker capacity to reduce our wailing lis( we were able to support 63 residents. mainty on daiming beneffts for the first time, and on benefits appeals. Over 70% of dients were from norFWhite backgrounds. of which 53% were Soulh East Asian hentage. We have secured fvnding from national charity Independent Age for a Social Welfare beneffts advice service for 8 year to continue to support this client group whilst we bid for longer term grant fvnding. Pa9e14
Newham New Deal Partnership Report of the Trustees For the year ended 31 March 2024 Good Neighbours services . @online club nelwoth for olderpeople East London has high levels of digilal indusion amongst older people and this presents barriers to actlng independenty and acc&wng services. The aim of @online club netwoth 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 had high levels of customer satisfaction and achievement for the service. We worked with 60 older residents in Tower Hamlets, and dellvered 142 group training hours and were able to deliver two digital skills for live programmes to 16 Newham resKlents, achievlng 32 training hours. due additional funding from Lyle's Local Fund and East End Community Foundation's Lrfe Chances Campaign which supported the core Tower Hamlets grant SUppOng the health needs of minoritised communitses The heallh equity project was a demonstrator project, funded and supported by North Ea81 London (NEL) NHS and Newham Councll, which was sel up and delivered in 2023. The project's aim was to reach communibes wilh low engagement of heallh ser¥ices, and test whether a project which engages grass roots community groups - and wh8re people already have a sense of belonging, and which are betler placed to achieve access. relevance and tsust for residents - can reduce healih inequalities rather than projects which are delivered by groups thal are loo big or wide for paople to identrfy with. Partner communty organisations reached 85 clients with one to one support, ran a total of 46 group events, and 20 outreach sessions. The project reached clients with low levels of mental lIbeIng. At the and of the project the maJity of dients self-reported better health status and an increased ability to manage their own h8alth. The Insliiute for Connected Communities supported us In the evaluation of proiecL Arts and h•ritag• Our bid to the Heritsge Fund for an 18-month projed - Cydes of Change - was successful. It 11 offer volunteering and participation opportunities to local residents focusing on the history of the charity over Ihe past 21 years and its engagement with people, places and organisations. We aimed to comfflence the project in September 2023. but recruited in December for a January 2024 stsrL Voluntoors NeaM New Deal Partnership is a volunteer-involving organisation which 8ctivety engages volunteers to support its charilable activities through a range of specialist opportunilies in health, siKial care, and IT, underpinned by training. supervision and supporL For many volunteers. the placements develop skills. COnfenCe and self•esleem, as well as providing routes into training. education and meaningful and sustainable empk)yment. Volunteers are offered expenses- subsistence and travel costs- as well as access to intemal and exiemal training courses. We note that many volunteers waive their entitl8m8nt to exp8ns88. We had regular nine volunteers who supp(xted the charitrfs delivery of Music for the Mind, Memory Café. and digital inclusion sessions. Their skills and contribuÉion to the atmosphere of the sessions is viial, and we thank them. Demenlia volunteers urKlertook 268 volunteering hrS over the year and digital voluntews 132 hours. Pagel 5
Newham New Deal Partnership Report of the Trustees For the year ended 31 March 2024 Pathorship worklng Newham New Deal Partnership contlnued to play an athe role in the voluntsry and community sector in the Borough. The CEO is a Twstee of One Newham, a neiwork of voluntary. community and faith grjpS 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, ltUral. educational, SOGial and voluntary anIsationS committed to growing and strenglhening cultural rnobilty in all its forms in Newham. As a commissioned organisation, Newham New Deal Partnershlp is also invited to sit on Health and Social Care Boards In Newham. including tho Agelng Well Newham Partnership Board. Financial r•vlew The charity's income and expenditure rose slgnlficantty due to fvndlng for delivery of a On project - the healih equity demonstrator project which we hosted for One Newham. We were able to achieve net incx)me for a second year, and increase our free resetves. This Includes reserves originalty allocated for a webstte review, whlch we were unable to do in 2023124, but plan for the forthcA)ming year. The charitys abilty to maintain longer temi funding streams kn rrOnt projects as always continues to b8 a challenge and a prfority in Ihe highly compelitive funding environment bolh locally and nationally. However we are committed to fundrais8 for projects whare we krK>w there is high client need and demand for services. Where possible, the charity includes realistic cost of living rises In muYear fvnding applicatlons. Reserves pollcy In 2016117 Ihe Trustses d8slgnated £30.000 of reserves for charity restructurlng or in a worst case scenarlo closure costs. The Trustees reviewed this, al the beginning of the financial year, but gNen uncertainty of som8 of the charity's funding sources at that time, they agreed to maintsin designated reserves atthis level. However. the Board agreed to open a charity savings account and intends to retain reserves in this accounL It wlll continue to keep designated reserves under review. Golng COnM At the present time the Trustees have a reasonable expectation that the charity has adequate resources to continue to operate. For this reason, they conlinue to adopt the golng (x)ncem basis in preparing the financial statnents. Prfncipal rlsks and uncertalntles 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 expendtture on a quarterfy basis. Cashllow is monitored on a monthly basis. Intemal control risks are minimised by the irnplementstion of financial prOdureS for the authorisation of all transactions and prwts. Page16
Newham New Deal Partnership Report of the Trustees For the year ended 31 March 2024 The charity reviews its Health and Safety policy once a year. this covers staff and volunteer safety when working both in and outside the offi. Procedures are in pla to ensure compliance with health and safety of staff. volunteers. clients and visitors. The CEO reports on the slatus of funding bids at every Board meeting. Plans for tho futurn The iknrity continued to prioritise funding for current and future serceS which reduce social isolation and support the Independence of older people and people wilh disabllilies. as well as to find more funding for arts and heritage projects which support the engagement of local people and local place making. Dialogue with customers. dients, fvrKlers and other stakehoklers in the financial year 2023r24 has enabled us to keep our strategy refreshed and operational. Structure, governance and manag•mant The Charlty Is reglstsred as a charitable company limlted by guarantee r.05o3344l. It Is constttuted under Memorandum of Assoclatkni dated 24th November 2009, and subsequenlly revised, as registered charity number 1132937. The Board meets approximately five times a year to approve the annual operalional plan and budge( the independently examined accounts, updated policies and procedures {Induding 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 al a Board Awayday to discuss and review slratsgic issues. The Chief Executive is f8sponslbl8 for the day to day running of the dlarity, and is line managed by th8 Chaif. In addition to the Chlef Executive, Newham New Deal Partnership had one full time and six part-time staff posts over the pertod. The charity has outsour¢8d its payroll, HR and H&S functions, and uses a freelance b(x)kkeeper. Appolntment of Trust• The Board comprises directors who are elected for a period of three years in the first instance. The charity periodically urKlertakes a review of skills and experience required of the Board. and identifies any gaps for recruSth)enL Following a recruilment programme, two new Trustees were appointed in 2024125. Trustee InduGtlon and tralnlng Potential Trustees are encouraged to leam about the charity in advance of appointment On appointment, new Trustees have a familiarisalion programme appropriate to their neets. which will incl(Kle briefings with the Chair and CEO. and project visits as well as the provision of a documen1ati pack which includes infonnation on the role of the Trusts8 and key internal charity documents. induding the goveming instrument. The Board of Directors compTises nine local people wilh business. financial, and management skills, plus knowledge of the local community. and lived experience as patients and carers. Trustees are encouraged to attend the dritS projects as observers and volunteers. Page17
Newham New Deal Partnership Report of the Trustees For the year ended 31 March 2024 Related parties and relationshlps wlth ¢)ther organisallons There We no related party transactions by Newham New Deal Partnership's Trustees In 2023124. The CEO is a Trustee of One Newham. We delivered heallh equity grant funded project for Ihem as a host organisation after a compelitsve Process. Statement of responsibllltlos of the trustoes The trustees are also directors of charitable company for the purFKWS of company law) are responsible for preparlng the trustees. annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Klngdom Generally Acceptad Accounting Practice). Company law requires the trustees to prepare financial statements for each financi81 year which glve a true and fair view of the slats of affairs of the charitabla company and of the incoming resources and application of resources, induding the Income arKI expendliure, of the charitablo company for that Pariod. In preparing these finandal ststements. the trustees are requirad to: Select suitable accounting policies and then apply thern consistently Observe the methods and princlples in the Charitss SORP Make judgements and eslimates that are reasonable and prudent State whether applicable UK Accounting Standards and statements of recommended practice have been followed, Subject to any matsrial departures disclosed and explained in the financial statements Prepare the financial statements on the going concem basis unless it is inappropriate to presume that the chanty will conlinue in operation The Irustees are SPOnsIble for keeplng proper accountlng records that disclose with reasonable accuracy at any ts.me the financial position of the charitable company and enable them to ensure that the financial ststements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitab16 company and hence for tsking reasonable steps for Ihe prevention and detection of fraud and other irregularities. The truste88 are reswnsible for Ihe maintenance and integrity of the corporats and financial infomiation induded on Ihe charitable companvs website. Legislation In the United Kingdom goveming the preparation arKI dissemination of financial ststements may differ fr(Kn legislation in otherjurisdictions. Mwnbers of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees at 31 March 2024 was 7 (2023: 7). The trustees are members of the charity but this entilles them onty to voting rights. The trustees have no beneficial interest in the charity. Statfjm as to dlsclosure to our independent examlners In so far as the trustees are aware: There is no relevant audit informalion of which the charitable CoMpanS independent examiners are Ur¥are., and Page18
Newham New Deal Partnership Report of the Trustees For the year ended 31 March 2024 The trustees have laken all steps that Ihey Iwght to have taken to make themselves aware of any levant audit infrymalion 8fKI to establish that the independent examiners are aware of that infomiation. The trustees, annual report has been approved by the trustees on ........... . and slgned on their James Robert Ludlam, JP Chalr of Trustms Page19
Independent examinerfs report To the members of Newham New Deal Partnership For the year ended 31 March 2024 I report on the accounts of the Newham New Deal Parlnership for the year ended 31 March 2024. which are set out on pages 11 to 19. Responslbilities and basis of roport As the charity's trustees of th8 Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance wilh the requirements of the Companies Act 2006 (Ihe 2006 Art). Having salisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of your charity's accounts as carrled out under section 145 of the Charities Act 2011 {'the 2011 Act.). In caryirKJ oul my oxamlnation I have followed the Dlrections glven by the Charity Commission urmler saction 145(5) (b) of the 2011 Act. Independ•nt oxamlnerfs statemont Since the Company's gross income exceeded £250,000, I confimi that l am quallfied to undertake the examination because l am a member of the ICAEW. which is of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connectTh wlth the examination giving me cause to believe: 1. accounting records were not kept In respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord wlth those record8: or 3. the accounts do not compty with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a and fair view which is not a matter considered as part of an independent examlnation; or 4. the accounts have not been prepared in accordance wlth tho methods and prlnciples of the Statement of Recommended Practice for accounting and reporting by charities applicable io charities preparing their accounts in accordance with the Finan(xal Reporting Stsndard applicable In the UK and Republic of Ireland {FRS 102). I have no concems and have come across no other matters in Ix)nnection with the examination to which attention should b8 drawn in this report in order to enable a proper understsnding of the accounts to be reached. Anthony Epton Goldwlns Charternd Accountants 75 Maygrovo Road West Hampstead London NW6 2EG FCA CTA. FCIE Page 110
NEWHAM NEW DEAL PARTNERSHIP Statement of financial activities (incorporating an income and expenditure account) For the year ended 31 March 2024 2024 Total funds 2023 Total funds Note Unrestricted Restrict•d funds funds In¢om• from: Donations Charitable adivities Invesknent income 1.510 97.416 1,510 267.096 1.593 176.215 169.680 Total Incomo 98.926 169,680 268,606 177.808 Expendlture on: Charitable activities: 83.342 168,046 251.388 164,409 Totsl oxpendltur• 168,046 251.388 164,409 Not Income l (0XndIture) for tho year 15,584 17,218 13.399 Trdnsfers beiween fvnds ,826 2,826 Net movornont In funds 18.410 (1,192) 17,218 10,573 Reconclliatlon of funds: Total fijnds brought fOard 43,642 94,902 Total fundg ¢arrlod forward 12 83,069 42,450 125,519 105,475 All of the above results are derived from continuing aclivities. There were no other recognised gains or losses other than those statsd atM)ve. The attached notes fomi part of these financial statements. Pagel 11
NEWHAM NEW DEAL PARTNERSHIP Balance sheet As at 31 March 2024 2024 2024 2023 2023 Current assets: Debtors Cash at bank and in hand 4.273 126.951 131,224 4,725 109.288 114,013 Llabllltles: Creditors: amounts falling due within one year 5,712 Net current assets 125.519 108.301 To net assets 125,519 108.301 Funds Restricted funds 43,642 Unrestricthl funds.. Designated funds General funds Totsl unrestricled funds 30,000 53.069 30,000 34.659 83.069 64,659 Tolal fun(ts 12 125.519 108,301 The Trustees conslder that the company Is entitled to exemption frorn the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 (Ihe Act.) and members have not required the company to obtsin an audit for the year in question in accordance with section 476 of the Act. The Trustees acknowledge their responsibilili8s for ensurfng that the company keeps accx)untlng re)rts whlth comply with seclion 386 of the Act and for preparing financial ststements which give a true and fair view of the state of affairs of the company as at 31 March 2024 and of its wofft or loss for the year then ended in accordance with requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to the financial slatements so far as appllcable to the company. The financlal ststements have been prepared in accordance wilh the spedal provlsions for small companies under Part15 of the Companies Act 2006. ZS Approved by the trustees on .................................... arKI signed on their behalf James Robert Ludlam. JP {Chair) Trustee Company registration no. 05033441 The attached notss fonn part of the financial statements. Page | 12
NEWHAM NEW DEAL PARTNERSHIP Notes to the flnancial statements For the year ended 31 March 2024 1 Accounling policies a) Basis of preparation The financial statem8nts have been prepared in accordance with Accounfjng and Reportlng by Charllles: Slatement of Recommended Practi applicable to charities preparing their accounts in accordance with the Finanaal Reporbng 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 liabililies are initialty COgniSed at historical cost or transaction value unless 0¥1se slated in the relevant accounling policy or note. b) Golng concern The tfustees consider that there are rK) material uncertainties ab1 the charitable company's ability lo continue as a going concem. 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) Incom Income Is recognised when the charlty has entitlement to the funds. any perf0mnCe conditions attache(J to the income have been met, it is probable that the income will be received and that the amount can be measured reliabty. Income from govemment and other grants, whether 'capital' grants or 'revenue' grants, Is re(nised when the chafity has entitlement to the funds, any perfomance conditions attached to the grdnts 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 defeed until the criteria for income recognillon are meL For legacies. entitlement Is taken as the earlier of the date on which either. the charlty Is aware that probate has been granted, the estate has been finalised and nolification has been made by the executor(s) to the charity that a distrlbution wlll be made, or when a dlstribulion Is received from the estate. Receipt of a legacy. in whole or In part, 18 only considered probable when the amount can be measured reliably and the chartty has been notified of the executorfs intention to make a distTibution. 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 the18gacy is a treated as a contingent asset arKI disdosed rf matsrial. d) Donatlons of glfts. sorvlc•8 and faclllllos Donated professional services and donated facilities are recognised as income when the charity has control over th8 Item or received the service. any condltions associated with the donation have been met, the ceipt of ecxjnomic benefit from the use by the charity of the item is probable and that economic benefft can be measured reliably. In accordance with the Charities SORP (FRS 102). volunteer time is not recA>gnised so refer to the trustees, annual reF)Ort for more infomiation about their contribution. On receipt, donated gifts, professional services and donated facilities are recognised on the basls 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 econijnic benefft on the open market; a coThesponding amount is then recognised in expenditure in the period of receipt. e) Int•rest recelvable Inte5t on funds held on deposit is included when receivable and the amount can be measured reliabty by the charity; this is nonnally upon notifiGalion of the interest paid or payable by the bank. Page113
NEWHAM NEW DEAL PARTNERSHIP Notes to the financial ststements For the year ended 31 March 2024 1 Accounting policios (contlnued) fj Fund accounting UnrestTittsI funds are available to spend on aclivities that further any of the purposes of charity. Designaled funds are unrestri&ed funds of the tharity which the trustees have decided at their discretion to set aside to use a spe(ific purpose. Restricted funds are dts which the donor has specified are to be solely used for parlilar areas of the charity's work or for speufic proieds being undertaken by the charity. g) EXndItrn and IrreGOVOrable 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 MeasUd reliabty. Expendire is classffied under the following activity headings: Costs of raising funds comprise of trading costs and the CSts incurred by the charitable (x)mpany in inducing third parties to make voluntary contributions to IL as well as the cost of any acbvibes with ndraising purpose. Expenditure on charitable activilies indudes 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 agalnst the activty for which the expenditure was incurred. h) Allocatlon of support costs Support costs are those functions thal asslst the work of the tharfty but do not directy undertake charilable activities. Support costs indude back offilx costs, finance, personnel, payroll and govemance costs which support the tharitys activilies. These costs have been allocated between ¢x)st of raising funds and expenditure on thafttable activities. l) Operating Iu808 Rental charges are charged on a straight line basis over the temi of the lease. J) Tanglblo Ilxod assets Items of equipment ara (*pitsli88d where the assets is expected to have a usefijll life of more than three years. Depreciation is provided at rates calculated to write down the cost of each asset to its eslimatsd resKlual value ovef Its expectsd useful life. The depr8ciati(M rates In use are as follows: Fixtures and fittings 5 Years SL Computer equipment 4 Years SL k) Debtorn Trade and other debtors are recognised at the setllem 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 sht tsmi highty liquid inVestnts witt) a malurity of three months or less from the date of acquisition or OnIng of the deposit or similar aixount. m) Credltors and provlslons Creditors and provisions are re(x)gnised where the charity has a present obligation resulting from 8 past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation (an be measured or estimated reliably. Creditors and provisions are normally recognised at Iheir settlement amount after allowing for any trade discounts due. Page114
NEWHAM NEW DEAL PARTNERSHIP Notes to the financlal statements For the year ended 31 March 2024 2 Detailed compardtives for the statement of financial aclivilies 2023 2023 Unrestricted Restrided 2023 Totsl Income from: Donations Charftable activities: Grants receivable Investment income Total incomo 1,593 78.170 1.593 176,215 98.045 79.763 98.045 177,808 Expendilur• on: Chariiable acbvitses Total •xpenditurn 87.970 87,970 76,439 76.439 164,409 164.409 Nat Incomo l (expendlturn) for the year (8,207) 21.606 13.399 Transfers belween funds Not mov•mont In funds {8,207) 21.606 13.399 Total fvnds brought folward 72.866 22.036 94.902 Total funds carrfed forward 64.659 43.642 108,301 3 Income from charltable actlvltlos 2024 Total 2023 Tolal Unrestricted Restricted Grant Income Other income Totsl for charltablo activltles 169.680 169,680 97A16 267.096 98,045 78,170 176.215 97,416 7,416 16 4 Income from investments 2024 Total 2023 Total Unrestricted Restricted Bank interest Page115
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NEWHAM NEW DEAL PARTNERSHIP Notes to the financial ststements For the year ended 31 March 2024 Net income l (expenditure) for the year This is slated after charging l {crediliNJ): 2024 2023 Independent examiners fees 17 Analysis of staff costs, trustsa rnmuneratlon and expanses. and the cost of key managwn•nt personnel Staff costs were as follows." 2024 2023 Salaries and wages Social seGurity costs Pension contributions Other ¢x)sts 171,403 122.685 6,208 1.833 471 131.197 2.413 2,324 184.584 None of the employees were paid a remuneration equal to or mora than £60,000 in the yaar (2023: Nil). The total employee benefits including pension contributions of the key management personn81 were £49.437 (2023: £49.320). Th8 charity trustees were not paid or received any other b8neffts from employment wlth the charlty. staff num1$ The average number of employees (head count based on number of staff employed) during the year was as follows: 2024 No. 2023 No. Charitable athities Support Taxatlon The charitable company is exempt from corpornlion tsx as all its income is charitable and is applied for charitable purposes. Debtors 2024 2023 Trade debtors Prepayments 2.905 1.820 4.725 1.367 4273 Page | 17
NEWHAM NEW DEAL PARTNERSHIP Notes to the financial statements For the year ended 31 March 2024 10 Credltors: amounts falling duo Within one year 2024 2023 Trade ueditors Taxation and social security Accruals 166 3.839 1,700 5,705 1.503 2,509 1.700 5.712 11 Analysls of net assets between funds General unrestricted Designated Restricted Total funds Net current assets Net assets at th• ond of tha year 53,069 30.000 ,000 42.450 ,450 125,519 125.S1 Analysis of net assets b•tw•on funds 2023 General unrestrKtsd Designated RestrKXed Total funds Net current assets Not assets at the end of the y•ar 34.659 .65 30,000 43,642 108.301 12 Movamonts In funds At the slart of the year At the end Incoffle Expenditure Transfern of the year R8strfct•d funds: East End Community Foundation - Life Chances Campaign Lyle's Local Fund Uoyds Bank Covid19 fund LB of Tower Hamlets Health Equty Grant Independent Age Heritage Fund Together for London (London Comm Henry Smith Other Small Grants Total restrlctod fvnds 5,945 5,945 2,430 2,826 {957) 24.180 (2,826) 11.387 60.000 17.515 10.430 84,341 10.031 15,165 9,986 29.718 (161) 33,681 9.218 20,500 1,446 169.680 168,046 ,826 Unréstrict funds: Designated funds 30.000 Genoral funds 34.659 98.926 83.342 2,826 53.069 Total unrestricted funds 64.659 98,926 83,342 2.826 83.069 TOL11 funds 251,388 125.51 Pagel 18
NEWHAM NEW DEAL PARTNERSHIP Notes to the financial ststements For the year ended 31 March 2024 Movements in funds 2023 At the start of the year At the end Income Expenditure Transfers of Ihe year Restrlctod funds: East End Community Foundation - L Lyle's Local Fund Lloyds Bank Covid19 fund LB of Tower Hamlets Newham Mental Health Grant Health Equty Grant Henry SmSth Total restrlctod funds 5.945 2.430 5.945 2,430 2.826 {957) 2.826 1.545 6.700 19.520 22,022 6.700 5,820 41,897 76.439 30,000 40,150 98,045 24.180 9.218 10.965 22,036 Unrestrlcted funds: Designated funds 30,000 30.000 G•n•ral funds 42.866 79,763 87.970 Total unrnstrl¢tsd funds Total funds 94902 177,808 ,409 108,301 East End Community Foundation - Life Chances Campaign: grant to develop digital skills for health and wellbeing for older people. Lyles Local Fund: grant for dlgltal lrfe skills training for older peopl8 in Nowham. Health Equty Grant: from On8 Newham to deliver a demonstrator project to understand health inequities. The CEO is a Trustee of One Newham, which Is the CVS for Newharn. LB of Tower Hamlets: funding to delNer @online dub programme in Tower Hamlets. Henry Smith: grant towards the salary of a part-time speciallst dementS8 case worker. Together for London: grant for a temporary social welfare worker to deal with increased demand for the service from people living with dementia. Independent Age: grant for a part time weltare benefits worf(er to support those over 66 years of age with advice and practical support. 13 Legal status of tho charfty The charity is a company limiled by guarantee and has no share rAqPital. Each member is lialme to contribute a sum not exceeding £1 in the event of the charity being wound up. 14 Ralated party transactlons There are no related party transactions to disclose for 2024 (2023: none). Page119