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2021-03-31-accounts

REGISTERED CHARITY NUMBER: 1154842

REPORT OF THE TRUSTEES AND

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021

FOR

TOWER HAMLETS MISSION CIO

S. Cobbin & Co Limited Chartered Accountants & Registered Auditor 15a Station Road Epping Essex CM16 4HG

TOWER HAMLETS MISSION CIO

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021

Page
Treasurer's Report 1
Report of the Trustees 2 to 8
Report of the Independent Auditors 9 to 10
Statement of Financial Activities 11
Balance Sheet 12
Cash Flow Statement 13
Notes to the Cash Flow Statement 14
Notes to the Financial Statements 15 to 21
Detailed Statement of Financial Activities 22 to 23

TOWER HAMLETS MISSION CIO

TREASURER'S REPORT FOR THE YEAR ENDED 31ST MARCH 2021

The year has been another good one with occupancy levels remaining high for most of the year. Fund-raising for both the Sponsorship Scheme and general purposes has gone well.

We have replaced the boiler and radiators and are now planning to upgrade the kitchens as part of the ongoing refurbishment.

Having been cautious with spending, not being sure how Covid-19 might affect our finances we found our income was not particularly affected and so our current cash position is quite healthy.

We have maintained our Strategic Reserve which is our safety net to keep the work going if finances do get tight either through changes in the funding regime or a lower level of occupancy. Those funds are invested in the Ruffers Charity Asset Trust and like many investments during this time of uncertainty with both Brexit and Covid-19 they have had their ups and downs, but have never fallen below our original investment. We are also now re-investing dividends on these investments so as to make allowance for inflation on the level of reserve required, which ought to represent 4 months expenditure.

The staff is our most important resource giving the Charity the 'family' feel which the residents appreciate and value and which helps the residents achieve the results they desire. We thank the staff for their hard work, particularly during this more difficult year.

The Sponsorship Scheme supports residents where external funding cannot be found. We regard this as an important part of our activities and are pleased to report that this year £36,950 was received and £76,249 was spent. The overall result was an increase in general funds of £66,201.

We are as always looking to God in our decision making and thank Him for His past supply and look to Him for the future supply of people and finance to operate this important ministry.

Page 1

TOWER HAMLETS MISSION CIO

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2021

The trustees present their report with the financial statements of the charity for the year ended 31st March 2021. The trustees have adopted the provisions of 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 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The Tower Hamlets Mission is a Christian charity, committed to working with people suffering from alcohol and/or drug dependency, who are homeless, or in danger of becoming homeless and are receiving state benefits. Our aim is to enable them to break the cycle of chronic addiction definitively and to rebuild purposeful, stable lives through the provision of high quality, comprehensive, and long term residential therapy, rehabilitation and resettlement.

There are currently 3 part-time administrative staff, 9 full time and 3 part-time therapy staff.

Public benefit

Tower Hamlets Mission aims to help residents break from their addictions and rebuild a purposeful life free from drugs and / or alcohol.

This is achieved through a programme made up of three stages, increasing independence for the individual throughout. Each resident receives group therapy, one to one counselling, completes a written therapy programme, has peer to peer support and is also helped at a practical level with benefits and debt advice, liaison with courts / legal matters, given help with budgeting and catering and also assisted with gaining entry into education and / or voluntary work.

The benefits can be measured in many ways. Some of these include better health, a break from criminal activity, better relationships with families and children and a new sense of hope and purpose.

The benefits spread wider to the family, friends and children of the resident who have often struggled with their relationship and to society in general who are no longer burdened with carrying the weight of the resident's illness (in terms of NHS, Criminal Justice System and Welfare Benefits)

Fundraising Activities

Tower Hamlets Mission's approach to fundraising is to raise funds from Grant Making Charities and Companies to support its annual budget and to fund 'one off' capital projects wherever necessary. This is achieved by written applications detailing the work of the Mission and its Objects and stating the current financial need. The applications are accompanied by the Mission's most recent financial statements and annual report.

Tower Hamlets Mission is registered with the Fundraising Regulator and is a member of the Institute of Fundraising and complies with recognised standards.

Tower Hamlets Mission does not employ professional fundraisers and does not, under normal circumstances, approach the general public (individuals) for monetary donations. No complaints about the Mission's fundraising practices have been received.

Tower Hamlets Mission's fundraising activities are monitored by the Managing Committee in accordance with the document M21 (Charity Fundraising - Trustees Duties).

Page 2

TOWER HAMLETS MISSION CIO

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2021

ACHIEVEMENT AND PERFORMANCE

Sponsorship Scheme:

This scheme pays for the therapy of those men who cannot get funding for this.

Outcomes

On 1st April 2020, there were 3 residents on the Primary Programme and 10 new residents throughout the year.

1 resident was discharged by Charis

2 residents discharged themselves

4 moved onto the Second Stage There were 6 residents left on group on 31st March 2021 This represents an 57.1% completion rate and an 75% positive outcome

On 1st April 2020, there were 10 residents on the Second Stage Programme and 4 new arrivals throughout the year.

2 residents were discharged by Charis

1 resident moved into their own accomodation

0 residents self-discharged

3 moved into the Terrace

8 residents were in Second Stage on 31st March 2021 This represents a 66.7% completion rate and a 85.7% positive outcome.

Combined occupancy for primary and second stage was 95.36%

On 1st April 2020, there were 12 residents living in The Terrace and 3 new residents throughout the year.

0 residents were discharged by Charis

3 moved into their own accommodation

12 residents were in The Terrace on 31st March 2021

This represents a 100% completion rate and a 100% positive outcome

Occupancy for The Terrace was 97.43%

Summary

The overall occupancy rate for all stages at Charis was 96.31%. We had 35 residents at Charis this year, with 3 residents discharged by Charis, 2 residents who self-discharged and 4 who successfully moved on to their own accomodation. This represents a 86.1% positive outcome across all programmes.

Completion rate measures only those residents who move internally from one programme to the next or leave Charis in a planned move on maintaining abstinence.

Positive outcomes measure the outcome for all residents including those that are still at Charis at the end of the financial year.

FINANCIAL REVIEW

Investment policy and objectives

Under the CIO Foundation Model, the charity has the power to make any investment which the trustees think fit, taking into account advice from their stockbrokers.

The trustees have considered the most appropriate policy for investing funds and have found that a selection of wider range UK listed investments meets their requirements to generate both income and capital growth. The trustees consider the returns on investments to be satisfactory.

Page 3

TOWER HAMLETS MISSION CIO

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2021

FINANCIAL REVIEW

Reserves policy

The charity determines to maintain reserves, invested as appropriate, that will enable the work of the charity to continue with sufficient funds to maintain its level of activity without being disturbed by temporary shortfalls in funding. In particular, funds will be maintained as follows:

Restricted funds:

These will be treated as reserves that cannot be touched except to be spent on the purposes for which the funds are raised.

Capital Asset Fund:

This will be invested in the premises and plant used for charitable purposes. It will be augmented by the receipt of donations or grants that have been raised to fund capital projects, or by transfers from other reserves if that seems prudent or necessary, and it will be reduced by reason of depreciation or disposal of assets.

General Fund:

This will be invested in net current assets and will consist of two elements:

a) Strategic Reserve: the charity's policy on reserves is designed to maintain or achieve adequate funds to cover the net book value of fixed assets, and to hold restricted funds. In addition it seeks to achieve a general reserve to cover working capital requirements and three months average costs.

b) General Reserve: the balance of reserves that will be taken forward to the future as additional funding for charitable activity.

Review of funds

The statement of financial activities shows an increase in net assets for the year of £66,201. The charity's net assets currently stand at £2,702,386. Movements in individual funds are shown in the body of the accounts.

The charity's policy on reserves is designed to maintain or achieve adequate funds to cover the net book value of fixed assets, and to hold restricted funds. In addition it seeks to achieve a general reserve to cover working capital requirements and three months average costs.

At the end of March 2021 a grant of £20,145 was received from the Marie Celeste Samaritan Society. This amount is included in cash at bank but was specifically designated by the donor to be used for works in 2021/22 and has therefore been categorised as deferred income in these accounts.

FUTURE PLANS

During the past few years Tower Hamlets mission has carried out a major refurbishment of the Charis Alcohol and Drug Therapy Unit building which included the renewal of the roof and installation of a new skylight, replacement of boilers, radiators, sinks and other necessary renewal throughout the building. There had been plans to continue with other outstanding works throughout 2020/2021 but the pandemic precluded this. Funds have been set aside to complete these works as soon as possible.

In addition, plans were in place to refurbish all of the kitchens in the Terrace block flats (9 in number) and to carry out necessary internal and external works throughout the buildings during 2020/2021. The pandemic made it impossible to carry out this work. Therefore, funds have been set aside to complete the work as soon as possible.

Other projects that were put on hold due to Covid-19 that we hope to complete soon are:

It has been decided that we should put aside £30,000 under Designated Funds

Page 4

TOWER HAMLETS MISSION CIO

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, Charitable Incorporated Organisation Foundation Model dated 22nd October 2013.

Page 5

TOWER HAMLETS MISSION CIO

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT Associates

Peter R Coster Giles Topping Christopher Abbess Yvonne Abbess

Patrons

The Viscount of Falkland Mr Charles Miller Smith The Rt Rev Christopher Chessun (Bishop of Southwark) The Most Hon the Marquess of Reading

Staff

Andrew R Bannell BA Hons (Law) BA Hons (Phil/Theo) Director & Dip Soc Wk CQSW, Cert MHSC Registered Manager NVQ Level 4 Management, Registered Managers Award Stephen H Holness Part-time Charity Secretary Natalie A Bannell CSS Part time Administrator Melanie J O'Reilly BSc Hons (Soc Sci) (Psy) DASS CQSW Part-time Senior Counsellor/Key Worker William A O'Reilly Counselling Theory & Skills (CSCT) Senior Counsellor/ Diploma in Counselling (CSCT) Key Worker Geoffrey B White BSc Hons, Certificate in Counselling Theory (CSCT) Senior Counsellor/ Certificate in Alcohol & Drug Counselling Skills (CSCT) Key Worker/ Registered Managers Award Deputy Manager NVQ Level 4 Management Simon P Sanders BA Hons, Certificate in Counselling Keyworker / Counsellor

Jonathan K Mabbutt Part-time Deputy Administrator Rosamond H White BSc (Hons), Diploma in Counselling Part-time Project Worker (CSCT) Christina Pilkington MA, Birkbeck University HE Cert in Part-time Project Worker Counselling Skills Stephen C Dodd BSc, PGCE

Stephen C Dodd Project Worker

Page 6

TOWER HAMLETS MISSION CIO

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT

Susanne C Lynch BDc (Pharm), NVQ Level 3 Professional Cookery Part-time Project Worker Akik Miah City & Guilds NVQ Project Worker Care Level 2 Reuben Fromow BA Hons Project Worker Gaetana Vitale IBTI Diploma in Applied Theology Project Worker

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1154842 Principal address 31 Mile End Road London E1 4TP

Trustees G E Featherstone MBE, BA, Dip Civ Eng The Rev His Hon A N Hitching, MA BCL (resigned 10.11.20) T G Malton MBA Dr T W Robson OBE, BSc, MBBS R I Smith, ~~ACA~~ Mrs A J Dawson BA Dip Counselling D J Richter MA BA (Hons) Dip Mgt MCMI FRSA' G Roach BA (Hons) Mrs E Lamont BA (Hons) Mr D K D Owusu-Yianoma LLB (Hons) BL Barrister-at-law (appointed 30.3.21)

Auditors

S. Cobbin & Co Limited Chartered Accountants & Registered Auditor 15a Station Road Epping Essex CM16 4HG

Bankers HSBC Bank Plc London Commercial Banking Centre Level 6 71 Queen Victoria Street London EC4V 4AY

Solicitors

Monro Wright & Wasbrough LLP 7-8 Great James Street London WC1N 3DF

Page 7

TOWER HAMLETS MISSION CIO

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2021

REFERENCE AND ADMINISTRATIVE DETAILS Stockbrokers

Ruffer AIFM Ltd P O Box 371 Darlington DL1 9RN

TRUSTEES' RESPONSIBILITY STATEMENT

The trustees are responsible for preparing the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed 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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the CIO Foundation Model dated 22nd October 2013. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the board of trustees on 13th July 2021 and signed on its behalf by:

Dr T W Robson OBE, BSc, MBBS - Trustee

Page 8

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF TOWER HAMLETS MISSION CIO

Opinion

We have audited the financial statements of Tower Hamlets Mission CIO (the 'charity') for the year ended 31st March 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Page 9

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF TOWER HAMLETS MISSION CIO

Responsibilities of trustees

As explained more fully in the Trustees' Responsibilities Statement, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

S. Cobbin & Co Limited Chartered Accountants & Registered Auditor Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 15a Station Road Epping Essex CM16 4HG

13th July 2021

Page 10

TOWER HAMLETS MISSION CIO

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2021

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
4
Residential services
Investment income
3
Other income
Total
EXPENDITURE ON
Raising funds
5
Charitable activities
6
Residential services
Other
Total
NET INCOME/(EXPENDITURE)
Transfers between funds
15
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds

£
34,721
581,508
13,415
33,417
663,061
8,799
548,762
-
557,561
105,500
(39,299)
66,201
2,636,185
2,702,386		 Restricted
funds
£
36,950
-
-
-
36,950
-
76,249
-
76,249
(39,299)
39,299
-
-
-		 2021
Total
funds
£
71,671
581,508
13,415
33,417
700,011
8,799
625,011
-
633,810
66,201
-
66,201
2,636,185
2,702,386		 2020
Total
funds
£
117,335
579,152
11,874
9,011
717,372
7,440
545,233
50,616
603,289
114,083
-
114,083
2,522,102
2,636,185

The notes form part of these financial statements

Page 11

TOWER HAMLETS MISSION CIO


FIXED ASSETS
Tangible assets
Investments
CURRENT ASSETS
Debtors
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
Unrestricted funds
TOTAL FUNDS		 BALANCE SHEET
31ST MARCH 2021
Unrestricted
funds
Notes
£
11
2,375,310
12
188,817
2,564,127
13
1,083
176,136
177,219
14
(38,960)
138,259
2,702,386
2,702,386
15		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-		 2021
Total
funds
£
2,375,310
188,817
2,564,127
1,083
176,136
177,219
(38,960)
138,259
2,702,386
2,702,386
2,702,386
2,702,386		 2020
Total
funds
£
2,397,373
155,194
2,552,567
42,154
50,925
93,079
(9,461)
83,618
2,636,185
2,636,185
2,636,185
2,636,185
Notes
11
12
13
14
15

The financial statements were approved by the Board of Trustees and authorised for issue on 13th July 2021 and were signed on its behalf by:

Dr T W Robson OBE, BSc, MBBS - Trustee

R I Smith, ~~ACA~~ - Trustee

The notes form part of these financial statements

Page 12

TOWER HAMLETS MISSION CIO

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31ST MARCH 2021
2021
Notes
£
Cash flows from operating activities
Cash generated from operations
1
177,462
Interest paid
-
Net cash provided by operating activities
177,462
Cash flows from investing activities
Purchase of tangible fixed assets
(20,943)
Sale of intangible fixed assets
-
Sale of tangible fixed assets
-
Interest received
35
Dividends received
2,280
Unrealised gain on investments
(33,623)
Net cash used in investing activities
(52,251)
Cash flows from financing activities
Loan repayments in year
-
Net cash provided by/(used in) financing activities
-
Change in cash and cash equivalents in
the reporting period
125,211
Cash and cash equivalents at the
beginning of the reporting period
50,925
Cash and cash equivalents at the end of
the reporting period
176,136		 2020
£
108,648
(2,930)
105,718
(33,919)
2,672
3,000
121
815
(5,713)
(33,024)
(116,137)
(116,137)
(43,443)
94,368
50,925

The notes form part of these financial statements

Page 13

TOWER HAMLETS MISSION CIO

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2021

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income for the reporting period (as per the Statement of Financial
Activities)
Adjustments for:
Depreciation charges
Profit on disposal of fixed assets
Interest received
Interest paid
Dividends received
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Net cash provided by operations		 2021
£
66,201
43,006
-
(35)
-
(2,280)
41,071
29,499
**177,462 **		 2020
£
114,083
42,146
(5,671)
(121)
2,930
(815)
(34,258)
(9,646)
108,648

2. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.20 Cash flow At 31.3.21
£ £ £
Net cash
Cash at bank and in hand 50,925 125,211 176,136
50,925 125,211 176,136
Total 50,925 125,211 176,136

The notes form part of these financial statements

Page 14

TOWER HAMLETS MISSION CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - 1% on cost Fixtures and fittings - 33% on cost Motor vehicles - 20% on cost

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

continued...

Page 15

TOWER HAMLETS MISSION CIO

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2021

2. DONATIONS AND LEGACIES

Donations
Gift aid
Legacies
Grants
Grants received, included in the above, are as follows:
Other grants
3.
INVESTMENT INCOME
Rents received
Dividends received
Bank interest received
4.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Residential service income
Residential services
Therapy income
Residential services
5.
RAISING FUNDS
Raising donations and legacies
Staff costs
Direct fundraising costs

continued...

Page 16

TOWER HAMLETS MISSION CIO

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2021

6. CHARITABLE ACTIVITIES COSTS

6.
CHARITABLE ACTIVITIES COSTS
Residential services
7.
SUPPORT COSTS
Residential services
8.
TRUSTEES' REMUNERATION AND BENEFITS		 Support
Direct
costs (see
Costs
note 7)
£
£
574,710
50,301
Governance
Finance
costs
£
£
476
49,825		 Totals
£
625,011
Totals
£
**50,301 **

There were no trustees' remuneration or other benefits for the year ended 31st March 2021 nor for the year ended 31st March 2020.

Trustees' expenses
Trustees' expenses
9.
STAFF COSTS
Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Therapy staff
Administrative staff		 2021
£
-
2021
£
400,505
36,307
17,107
453,919
2021
12
3
15		 2020
£
506
2020
£
353,577
33,083
16,011
402,671
2020
12
3
15

No employees received emoluments in excess of £60,000.

continued...

Page 17

TOWER HAMLETS MISSION CIO

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2021

10.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
90,435
Charitable activities
Residential services
579,152
Investment income
11,874
Other income
9,011
Total
690,472
EXPENDITURE ON
Raising funds
7,440
Charitable activities
Residential services
467,069
Other
50,616
Total
525,125
NET INCOME/(EXPENDITURE)
165,347
Transfers between funds
(51,264)
Net movement in funds
114,083
RECONCILIATION OF FUNDS
Total funds brought forward
2,522,102
TOTAL FUNDS CARRIED FORWARD
2,636,185
Restricted
funds
£
26,900
-
-
-
26,900
-
78,164
-
78,164
(51,264)
51,264
-
-
-		 Total
funds
£
117,335
579,152
11,874
9,011
717,372
7,440
545,233
50,616
603,289
114,083
-
114,083
2,522,102
2,636,185

continued...

Page 18

TOWER HAMLETS MISSION CIO

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2021

11. TANGIBLE FIXED ASSETS

Freehold
property
£
COST
At 1st April 2020
2,557,699
Additions
20,943
At 31st March 2021
2,578,642
DEPRECIATION
At 1st April 2020
187,528
Charge for year
35,184
At 31st March 2021
222,712
NET BOOK VALUE
At 31st March 2021
2,355,930
At 31st March 2020
2,370,171
12.
FIXED ASSET INVESTMENTS
MARKET VALUE
At 1st April 2020
Gain on investment
At 31st March 2021
NET BOOK VALUE
At 31st March 2021
At 31st March 2020
There were no investment assets outside the UK.		 Fixtures
and
fittings
£
57,396
-
57,396
54,375
1,777
56,152
1,244
3,021		 Motor
vehicles
£
30,228
-
30,228
6,047
6,045
12,092
18,136
24,181		 Totals
£
2,645,323
20,943
2,666,266
247,950
43,006
290,956
2,375,310
2,397,373
Listed
investments
£
155,194
33,623
188,817
188,817
155,194

Cost or valuation at 31st March 2021 is represented by:

Listed
investments
£
Valuation in 2020 5,194
Valuation in 2021 33,623
Cost 150,000
188,817

continued...

Page 19

TOWER HAMLETS MISSION CIO

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2021

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Prepayments and accrued income
14.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors
15.
MOVEMENT IN FUNDS
Net
movement
At 1.4.20
in funds
£
£
Unrestricted funds
General fund
2,636,185
105,500
Designated funds
-
-
2,636,185
105,500
Restricted funds
Sponsorship scheme
-
(39,299)
TOTAL FUNDS
2,636,185
66,201
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
663,061
Restricted funds
Sponsorship scheme
36,950
TOTAL FUNDS
700,011		 2021
£
2,758
(1,675)
1,083
2021
£
38,960
Transfers
between
funds
£
(69,299)
30,000
(39,299)
39,299
-
Resources
expended
£
(557,561)
(76,249)
**(633,810) **		 2020
£
2,367
39,787
42,154
2020
£
9,461
At
31.3.21
£
2,672,386
30,000
2,702,386
-
2,702,386
Movement
in funds
£
105,500
(39,299)
**66,201 **

continued...

Page 20

TOWER HAMLETS MISSION CIO

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2021

15. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1.4.19
£
Unrestricted funds
General fund
2,522,102
Restricted funds
Sponsorship scheme
-
TOTAL FUNDS
2,522,102
Comparative net movement in funds, included in the above are a
Unrestricted funds
General fund
Restricted funds
Sponsorship scheme
TOTAL FUNDS		 Net
movement
in funds
£
165,347
(51,264)
114,083
s follows:
Incoming
resources
£
690,472
26,900
717,372		 Transfers
between
funds
£
(51,264)
51,264
-
Resources
expended
£
(525,125)
(78,164)
(603,289)		 At
31.3.20
£
2,636,185
-
2,636,185
Movement
in funds
£
165,347
(51,264)
114,083

16. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31st March 2021.

17. DONORS DURING THE YEAR

Marie Celeste Samaritan Society Mrs L D Rope Third Charitable Settlement Inner London Magistrates' Court's Poor Box Charity & Feeder Charity Marsh Christian Trust The Sir James Roll Charitable Trust The Vandervell Foundation The Worshipful Company of Coopers The Invesco Cares Foundation Build & Create Construction Ltd The Sydney Black Charitable Trust The Worshipful Company of Gold and Silver Wyre Drawers The Leigh Trust The Innholders' Charity Foundation The Alexis Trust The Horners Charity Fund The Lord Faringdon Charitable Trust

Page 21

TOWER HAMLETS MISSION CIO

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2021

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Gift aid
Legacies
Grants
Investment income
Rents received
Dividends received
Bank interest received
Charitable activities
Residential service income
Therapy income
Other income
Gain on sale of shares
Gain on sale of tangible fixed assets
Sundry income
Unrealised gain on investment
Government grants
Total incoming resources
EXPENDITURE
Raising donations and legacies
Wages
Social security
Direct fundraising costs
Charitable activities
Wages
Social security
Pensions
Carried forward		 2021
£
6,921
-
-
64,750
71,671
11,100
2,280
35
13,415
573,852
7,656
581,508
-
-
12
31,343
2,062
33,417
700,011
7,889
786
124
8,799
354,249
31,863
17,107
403,219		 2020
£
7,486
749
51,100
58,000
117,335
10,938
815
121
11,874
574,255
4,897
579,152
2,672
2,999
299
3,041
-
9,011
717,372
6,645
620
175
7,440
313,757
29,489
16,011
359,257

This page does not form part of the statutory financial statements

Page 22

TOWER HAMLETS MISSION CIO

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2021

Charitable activities
Brought forward
Direct costs
Insurance
Sundries
Freehold property
Fixtures and fittings
Motor vehicles
Support costs
Finance
Bank charges
Bank loan interest
Governance costs
Trustees' expenses
Wages
Social security
Auditors' remuneration
Total resources expended
Net income		 2021
£
403,219
115,212
11,445
1,828
35,184
1,777
6,045
574,710
476
-
476
-
38,367
3,658
7,800
49,825
633,810
**66,201 **		 2020
£
359,257
130,513
11,371
1,946
33,142
2,957
6,047
545,233
579
2,930
3,509
506
33,175
2,974
10,452
47,107
603,289
114,083

This page does not form part of the statutory financial statements

Page 23