SHADWELL TRUST { A COMPANY LIMITED BY GUARANTEE) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Company No.. 07213620 Charity No: 1140130 ABACUS PARTNERS {LDN) LLP CHARTERED CERTIFIED ACCOUNTANTS UNIT A, ABBOTTS WHARF 93 STAINSBY ROAD LONDON E14 6JL
SHADWELL TRUST ( A Company Limited by Guarantee) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 CONTENTS Page 1. Direclors'trruslees, Report 1to6 2. Independent Examiner Report 3. Statement of Financial Activities 4. Statement of Financial Position 5. Notes lo the Financial Statements 101013
SHADWELL TRUST IA Company Limited by Guarantee) Directors'nrustees, Report for the year ended 31 March 2024 Company Information Trustees / Directors Mr Azafor Miah MrAmaduddin Mahbub Mr Jilu Miah MrAbu Mumin Company Secretary MrAbu Hasanath Company number 07213620 Charity number 1140130 Principal and Registered Office Tarling East Community Centre 63 Martha Street London El 2PA Examiner Abacus Partners ILdnl LLP Unit A, Abbotts Wharf 93 Stainsby Road London E14 6JL Banker HSBC 75 Whitechapel Road London El IDU
SHADWELL TRUST IA Company Limited by Guarantee) Dirertors'nrustees, 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 the Financial statements for the year ended 31 March 2023 to comply with the requirements of the Companies Act 2006, Charities Act 2011 and the Statement of Recommended Practice ISORPI for charitie5. Governing Instrument: The companies1 charity's objects and regulations are regulated by Memorandum & Articles of Association adopted on 6 April 2010 and amended on 21 October 2010 and incorporated by the Companies House on 6 April 2010. The same documents were registered with the Charity Commission on l February 2011. The objects of the charity is to promote for the benefit of the inhabitants of Tower Hamlets and the surrounding area the provision of facilities for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their, infirmity or disablement, financial hardship or social and economic circumstances or for the public at large in the interest5 of social welfare and with the object of improving the condition of life of the said inhabitants. The charity Is organised with a Board of Trustees elected by the members to oversee the overall activities. One person is nominated as chairperson to monitor the day to day running of the charity.
SHADWELL TRUST IA Company Limited by Guarantee) Directors'/Trustees' Report for the year ended 31 March 2024 About Us Our Vision Inspire People, Change Communities Our Mission We believe that every young person has the right to have fun in a safe environment, locally accessible and nurtured to unlock their potential. Aims and Ob ectives To ensure that young people in Shadwell can access high quality youth provision. To offer them a range of exciting and challenging opportunities through which they can develop into active and confident young adults. To improve the health and wellbeing of young people through sports coaching and physical activity. To develop soft Skills as well as to gain education and employment outcomes. To promote community safety through the delivery of workshops on youth related issues such as gangs, drugs and knife crime. Who We Are Shadwell Trust is a youth ar5d community organisation located in the London Borough of Tower Hamlets. OLtr seivices benefit primarily people living in the Shadwell Ward of Tower Hamlets. What We Do We provide young people in Shadwell with support, guidance and posltive activities and we help them to reach their potential. We have also teamed up with our local partners such as 13 Rivers Trust, Community Martials Trust and Shadwell Youth Organisation to actively engage yOLfng people on a regular basis. Shadwell Trust offers a wide range of recreational, social and educational activities to young people aged between 13 to 19. We provide a blend of youth activities with accredited learning outcomes. The project also organises social and educational excursions for young people in order to engage them in positive activities that they would not normally have access to. Young people are given opportunities to become youth volunteers giving them valuable work experience and skills. They support the staff in the delivery of projects and enable them to take ownership. We also provide sessions for young people in CV building, job brokerage. employment and training opportunities.
SHADWELL TRUST IA Company Limited by Guarantee) Directors'/Trustees' Report for the year ended 31 March 2024 Our Histo Shadwell Trust is a youth and community registered charity organisation located in the London Borough of Tower Hamlets. It was established in January 2007 and operated out of the old Town Hall in Sha(Jwell. The organisation arose out of acute problems that were being endured by local residents including spiralling rates of crime, drugs, urban deprivation and social exclusion. The activities we offer local people are a direct response to needs identified by local people of Wapping and Shadwell. Our core staff and volunteers are local residents of Tower Hamlets who have come together to meet the demands and needs of their community. The Tarling East Community Centre has been our home since 2009. Our centre is state of the art with renewable technology that helps to redute its carbon footprint. Our venue boasts of a wide range of provision which includes a communal kitchen, 2 community halls, an outdoor multi use games area, children, play area and plots of land for growing food We have partnered up with local community orEanisations and clubs to engage people young arkd old in positive activities and take advantage of the many opportunities we provide for them through our services. Evenin Youth Club Shadwell YoLJth Club offers a wide range of recreational, social and educational activities to young people aged between 13 to 19. We provide a blend of youth club activities with accredited learning outcomes. The project also organises social and educational excursions for young people in order to engage them in positive activities that they would not normally have access to. Our evening youth club sessions take place every Tuesday and Friday evening at Tarling East Community Centre from 6=30pm to 9=OOpm. Martial Arts Club We offer weekly self classes for young people to promote physical and mental wellbeing and instil discipline. The sessions are delivered by qualified coaches every Friday evening at Tarling East Community Centfe from 6=30pm to 8..30pm Self Defence Classe5 for Gir15 We offer self defence classes for girls, young women and local people from BAME communities in the Shadwell ward and surrounding areas. We hope to increase their confidence, become more resilient and access a range of activities and opportunities. The classes are delivered from Tarling East Community Centre in partnership with Community Martial Arts Trust. Art Classes for Home School Grou We work with the local home schooling group to deliver art classes and cultural activities with young children and their families. The classes have been used to experiment with clay work, animation and Japanese art. We also use the classes to di5CUS5 issues of community safety and what that means to the girls. This includes staying safe on the road, use of mobile phone and online safety. Deaf Club 16+
SHADWELL TRUST IA Company Limited by Guarantee) Directors'/Trustees' Report for the year ended 31 March 2024 We work in partnership with Al-lsharah to engage deaf people in weekly club activities. We provide access to our venue, equipment and resources. We encourage them to participate in social and recreational activities we organise throughout the year to promote inclusion and support them with their mental health and wellbeing. The deaf club takes place every Wednesday eveninE at Tarling East Community Centre from 7:00pm to 9:00pm. Jack Petche Achievement Award Shadwell Trust is very grateful for the support it receives through the Bronze level of the Jack Petchey Foundation Achievement Award scheme. Our young members are chosen for achieving something special. Sometimes this is for playing well but often it is for something like helpinE someone else, overcoming an obstacle or trying their best and making progress. The winners are awarded their certificates and medallions and are able to choose how to spend £250 grant to benefit their peers or their club. Brid the Ga 8ridging the Gap provides access to physical activity and mobility sessions to older people. The activities are delivered from Tarling East Community Centre in partnership with Sonali Gardens. Linkage Plus and Tower Hamlets Community Housing. Our physical activity and mobility sessions are delivered on a weekly basis. We also deliver Art classes to older people. The activities are delivered from Sonali Gardens. We want older people to enjoy all of our activities and achieve social inclusion through participating in recreational and positive diversionary activities out of their comfort zone. We hope to increase their mental wellbeing, become more resilient and access a range of activities and opportunities.
SHADWELL TRUST IA Company Limited by Guaranteel Directors'nrustees, Report for the year ended 31 March 2024 Reserves Policy and Going Concern The Trustees believe that it is essential that the Trust maintains sufficient reserves to allow it to continue its work through difficult economic times, to allow flexibility for cash flow requirement5 in respect of committed programmes, as well as providing resources in the event of any significant and unexpected expenditure. The Trustees have set a target of six months, expenditure as a prudent level of reserves. Currently the reserve is below the policy level and the Trustees are reviewing this for 2025 and beyond. The Trustees are fully satisfied with the Going Concern basis of accounts preparation as they have seen further funds received after the financial year-end, which will continue to support planned projects, and help the organisation return to a surplus next year. Financial position The Statements of Financial Activities shows a deficit of £6,50712023- Deficit of £17,868) with total funds of £17,80812023: £24,315) as at 31 March 2024. Despite the fall in funds, the Trustees have assessed cash flow from 12 months of the signing date of Accounts to be confident of Going Concern. Dlrectors l Trustees, Responsibilities: The trustees (who are also directors of The Rooted Forum for the purposes of company lawl are responsible for preparinE the Trustees, Annual Report and the financial statements irk accordance with applicable law and United Kingdom Accounting Standards IUK GAAP applicable to Smaller Entities). Company/Charity 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 2015 IFRS 1021,. make judgements and estimates that are reasonable and prudent; state whether applicable UK Accounting Standards 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 charitable company will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware.. there is no relevant audit information of which the charitable companws auditor is unaware- and as the directors of the company, we have taken all the step5 that we ought to have taken in order to make ourselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.
5HADWELL TRUST IA Company Limited by Guarantee) Director5'/Trustees' Report for the year ended 31 March 2024 Independent Examiner: 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,. These financial statements were approved by the board of directors arkd authorised for issue on Ilth December 2024, and are signed on behalf of the board by= MrAzafor Miah (Chairman)
SHADWELL TRUST IA Company Limited by Guarantee) Directors'/Trustees' Report for the year ended 31 March 2024 REPORT OF THE INDEPENDENT EXAMINER TO THE DIRECTORS I TRUSTEES OF SHADWELL TRUST l A Company Limited by Guarantee) Forthe year ended 31 March 2024 I have examined the accounts anc5 slalements on pages 8 10 13 which have been prep8red on the basis of accounting policies sel out on page 10. Respectlve responsibllities of Trustees and Examiner: The trustees Iwho are also the directors of the company for the purposes of company lawl are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144121 of the Charities Act 2011 Ilhe 2011 Acll and that an independent examination is needed. The charity's gross income did not exceed £250,000 and l am qualified lo undertake the examination by being a qualified member of ACCA. Having satisfied myself that the charity is not subject lo audit under company law and is eligible for independent examination, il is my responsibility lo". examine the accounts under section 145 of the 2011 Act., lo follow the procedures laid down in the general Directions given by the Charity Commission under section 14515llb} of the 2011 Act,. and lo slate whether particular matters have come to my attention Basis of Examiner's Statement: 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 ofthe 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 prOdreS undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as lo whether the accounts present a'true and fair view, and the report is limited lo those mallers set out in the statement below. Independent examinerfs ststoment In connection with my examination, no matter has come lo my attention.. 111 which gives me reasonable cause to believe that. in any material respect, the requirements.. lo keep accounting records in accordance with section 386 of the Companies Act 2006 section 130 of the 2011 Act,. 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 Slalement of Recommended Practice.. Accounting and Reporting by Charities have not been met., or 121 to which, in my opinion, allenlion should be drawn in order to enable a proper understanding of the acctsunts to be reached. Nur Ahmèd Chowdhury FCCA for and on behalf of Abacus Partners (Ldnl LLP Unil A. Abbolls VVh8rf 93 S18insby Road, London, E14 6JL D8le.' 11 DeMber 2024
SHADWELL TRUST l A Company Limited by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Totsl 2024 Totsl 2023 Unrestricted Restricted INCOME AND EXPENDITURE Notes INCOMING RESOURCES Charitable & Grant Income 9,000 58,490 67.490 1.226 63,372 Other Donation8 1,226 841 Total Income 10,226 58,490 68,716 64,213 RESOURCES EXPENDED Charitable Aclivilies. Costs 58,011 58,011 66,674 15,407 Administrative Costs 17,212 17,212 Totsl Resources Expended 17,212 58,011 75,223 82,081 NET INCOME IDEFICIT FOR THE YEAR 16,9881 d79 16,5071 117,8681 Funds as at 1 April 2023 24,315 24.315 42,183 Fund movernent Funds as at 31 March 2024 17.329 479 17,808 24,315 All incom8 and &xp8nditure are derived from continuing activitie8.
SHADWELL TRUST l A Company Limited by Guarantee) STATEMENTS OF FINANCIAL POSITION AS AT 31 MARCH 2024 Total 2024 Total 2023 Notes Fixed Assets: Tangible Assets 983 Current Assets.. Debtors & prepayment5 Cash at Bank and in hand 22,983 22,983 28,227 26,227 Crèditors-. Amount falling due within one year 5.175 2,895 Nèt Current Assets 17,808 23.332 Total Net Assets 17,808 24,315 Funds Unrestricted funds.. General Restricted Funds 17,329 479 24,315 Total Funds 17,808 24,315 For the year ended 31 Maich 2024 the company was entitled to exernplion from audit under section 477 of the Companies Act 2006 relating to small companies. Diieclorfs res The members have not required the company to obtain an audit of Its financial statements for the year in question in accordance with section 476,. and . The director acknowledges his responsibile$ foi cornptying wlh the requirements of the Act wth respect lo accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable lo companies subject to the small companies regirne, and accordance wth FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland.. There financial slaternents were approved by the board of directors and authorised for issue on 16 J8nu8ry 2024, and are signed on behalf of the board by.. Mr Afazor Mi8h (Chairperson) Mr Jilu Miah (Treasurer)
SHADWELL TRUST l A Company Limited by Guarantsel Notes to the financial statements for the year ended 31 March 2024 1 Accovnting Policies 1.1 Basis of preparation of account5= The financial staternenls have been prepared in accordan with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in aordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20151- (Charities SORP 2015 IFRS 1021. The charity tneels the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction v81ue un18S5 otherwise slated in the relevant accounting policy nolel8}. 1.2 Income Recognltlon.. All incoming resources ale included in the Statement of Financial Activities ISOFAI when the charity is legally enlilled lo the incorne after any performance conditions hav8 b88n mel, th8 8tnount can b8 measured ieliably and il is probable that the income will be ieceived. Donation and other income recognised when received. Grants for immediate expenditure ale accounted for when they becorne re1Vable. Grants l Donation restricted to future accounting period 8re d&fetred and iecognised in those periods. Grants l Donation for specific project are treated as restricted to the projects cjfwd for future operation. 1.3 Allocation of cost-. Costs are allocated between restricted and unrestricted fund according to the terms of income. Where items expended are mixed, they are apportioned between the categories awording lo the inwme they relate lo as well as using best possible professional judgements. 1.4 Support costs: Support costs are those functions that aSS151 the woik of the charity bijl do not direolly undertake ¢haritsble activrties. Support ctssts indude back office costs, finance, personnel, payroll and governance costs which support the Tiusls programmes and activities. These costs have beèn allocated between cost tsf raislng funds and expenditure on charitable activities. 1.5 Cashflow statement The Company is exempt from including a statement of cash flows 85 Part of ts accounts, 85 1115 not cl8ssifi&d as 'large' as per Charities SORP IFRS 1021. 1.6 Tangible fixed assets and depr•elation'. Grants including the grants for Ihg purchase of fixed assets are recogniseLI in full in the accounts in the year they are given for. Tangible fixed assets are stated at cost léss depreciakn'on. Depreciation is provided al the annual rates in order to write off each class of 8s5e15 over its estirnated usefvl life. Furniture, fittings and equipment 25/¢ on cost 1.7 Funds.. Unrestricted funds are available for use at the diseretitsn of thè tiusteès in furth6ranc8 of the general objectives of the charity and which have not been desianaled for other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The airn and use of each designated fund is sel out in the lloles lo the finanaal st8temenl8. Restricted funds are funds whid) are lo be used in accordance wlh specific reslriclions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering sueh funds are charged against the specific ftjnd. Thè aim and use of each restricted fund 18 sel out in the notes to the financAal statements. 10
SHADWELL TRUST A Company Limited by Guarantee) Notes to the financial statement5 for the year ended 31 March 2024 Ineomlng Resources Incoming [esour$ are the amounts derived fiotn the piovision of ch8rit8ble services, the receipt of grftS. subscriptions and grants falling within the charity's ordinary activities. Donations received for the general purposes of the eharity ale included as unrestricted funds. Donations and grants for activities restricted by the wishes of the donor are taken to restricted funds where these wishes are legally binding on the Iruslees. 3 Tangible Fixed Assets Furniture, Fixture & Equiprnenl Tot81 Cost BIFwd Addition 35,052 35,052 35,052 35 052 Depreciation.. Charges BIFwd Ch8rge foi the year 34,089 983 35,052 34.069 1,878 35,052 Net Book Value As 8131 March 2024 As at 31 March 2023 983 983 4 Incomin resources Unrestricted Restricted 2024 2023 G8rfi81d Weston Foundation Jack Petchey Ocean Youth Connexions - VRU 13 Rivers Ttusl Misc. Income 18,750 2,240 18,750 2,240 20,000 1,720 19,252 22,400 841 9,000 1,226 37,500 46,500 1,226 Totsl Ineome 5 Rèsources ex ended Unrèslrict8d Réslricled 2024 2023 Subscriptions Salaries, induding E'er NIC 8nd Pensions Rent and insuian Activities, cost Printing, Post89è and Slalionery Telephone,inlemet charges & IT Marketing Bank Interest and Charges Depreciation on Fumiture, Fitting and Equipment Accountaney Fees Legal and Professional fees Sundry 336 12,994 336 12,994 1,671 56,049 41 1,564 85 60 983 1,440 324 43,998 7,575 19,678 13 2,024 1,406 60 1,878 1,440 3,020 667 1.671 14,000 41 42,049 1,564 85 983 1,440 Total Expenses 11
SHADWELL TRUST l A Company Limited by Guarantee) Notes to the financial ststements for tho year ended 31 MARCH 2024 6 Restricted Fund Movement Opening Restricted Restricted Balance Incoming Resources 01.04.23 Resources Expended Transfers Closing Balance 31.03.24 Restricted Funds 58,490 58,490 58,011 58,011 479 479 7 Crndltors: Amouftt Fallin9 Du• Within One Year 2024 2023 Pension Creditors Paye Liabilities Accruals 62 793 4,320 5,175 $2 1471 2,880 8 Staff Emoluments 2024 2023 Total waoes and salariès Ernployei's NIC Ernployer Pensions 12,950 43,283 44 43 283 Direct Charitable Others 12,994 43,283 12,994 Avo No of employees.. Admin Avo No of employees.. Direct EtnDloyees paid in excess of £60,000 per year. No remuneration was paid lo any trustees or their associates during the year ended 31.03.2024 nor al 31.03.2023. 9 Movement in Funds Unrestricted Oesignaled Unrtslri¢ted RestriGled Free Reserve Reserve Funds Funds Total As al 1 April 2023 24,315 24.315 24,315 Current year 16,9861 16,986} 479 16,5071 Current year transfer As at 31 March 2024 The charity has free reserves available of £17,32912023'. £24,315). 10 Taxatlon The entity does not undertake trading activities, and does not exceed any thresholds that would take away ils tsx exemptions. 11 Post Balancè Shoat Events There are no significant post balance sheet events to report. 12
SHADWELL TRUST l A Company Limited by Guarante81 Notss to the flnancial statoments for the year ended 31 MARCH 2024 12 Transactions with Trustees There were no transactions with tiustees, or reimbursrnents made lo them during the year. 13 Conting8nt Llabilities The companylcharity had no contingent liabilities as 8131 March 2024 nor at 31 March 2023. 14 Related Partiès Transactions The entity hired out ils workspace lo 13 Rivers Trust for an annual fee of £9k in the year. 12022.'£5 4kl. Azafar Miah is 8 Trustee in both th8 Shadwell Tiust, and 13 Rivers Trust. 15 Gift5 In Klnd And Voluntsers During Ihe year the companylcharity benefited from unpaid work performed by volunteèrs. 13