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2023-03-31-accounts

REGISTERED CHARITY NUMBER: 1154842

REPORT OF THE TRUSTEES AND

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023

FOR

TOWER HAMLETS MISSION CIO

Cobbin Floyd Ltd Chartered Accountants 15a Station Road Epping Essex CM16 4HG

TOWER HAMLETS MISSION CIO

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023

Page
Treasurer's Report 1
Report of the Trustees 2 to 7
Report of the Independent Auditors 8 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 2023

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.

During the year we replaced the large window overlooking the stairs in Charis and purchased a medical grade bed for a disabled resident.

Like many others, we have been affected by the rising fuel prices, but for us it is only a relatively small part of our total costs so we are confident we can absorb the rises without affecting our services. We do also ensure that we pay our staff in line with the London Living Wage and have given increases to ensure that staff can cope with their own increasing costs of living.

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 they have had their ups and downs, but have never fallen below our original investment. We have topped up the investment as our levels of expenses have increased and the re-investment of dividends also helps make some allowance for inflation on the level of reserve required. The total reserve 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 £19,100 was received and £75,287 was spent.The overall result was an decrease in general funds of £45,667.

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.

R I Smith - Treasurer 18th July 2023

Page 1

TOWER HAMLETS MISSION CIO

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023

The trustees present their report with the financial statements of the charity for the year ended 31st March 2023. 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, 8 full time and 4 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 2023

ACHIEVEMENT AND PERFORMANCE Charitable activities Sponsorship Scheme:

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

Outcomes

Primary Programme:

On 1st April 2022, there were 3 residents on the Primary Programme and 14 new residents throughout the year.

1 resident was discharged by Charis

7 residents discharged themselves

4 moved onto the Second Stage There were 5 residents left on group on 31st March 2023 This represents a 33.3% completion rate and a 52.9% positive outcome

Second Stage:

On 1st April 2022, there were 10 residents on the Second Stage Programme and 4 new arrivals throughout the year.

2 residents were successfully moved into their own accommodation

3 moved into the Terrace

9 residents were in Second Stage on 31st March 2023 This represents a 100% completion rate and a 100% positive outcome.

Terrace (Third Stage):

On 1st April 2022, there were 12 residents living in The Terrace and 3 new residents throughout the year.

4 residents discharged themselves

11 residents were in The Terrace on 31st March 2023 This represents a 100% completion rate and a 100% positive outcome

Combined occupancy for primary programme and second stage was 95.1%

Occupancy for the Terrace was 99.04% and the overall occupancy rate for all stages at Charis was 96.92%.

Summary

We had 39 residents at Charis this year, with 1 resident discharged by Charis, 7 residents who self-discharged and 6 who successfully moved on to their own accommodation. This represents a 79.5% 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 2023

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 four 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 a decrease in net assets for the year of £45,667. The charity's net assets currently stand at £2,712,041. Movements in individual funds are shown in the body of the 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, new Stannah stairlift, replacement of boilers, radiators, sinks, replacement of Large Window in Charis Stairwell, resurfacing of side passage at rear of Charis, replacing wooden security gate to the side passage with a metal one, re-carpeting the Stairwell and the replacement of 2 bike sheds for the Residents.

During the coming year (2023-2024) the large curtains and voiles, in the Charis dining room and 2 lounges will be replaced at a cost of £5,000 (funds already available).

It is also our intention to provide staff in Charis with a more suitably sized office by making some internal alterations. It has been decided that £15,000 should be set aside under Designated Funds for the re-siting and re-design of the Charis Office.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

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

Page 4

TOWER HAMLETS MISSION CIO

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT Associates

Peter R Coster (deceased 16.06.23) Gareth Roach (from 08.11.22) Dan Richter (from 08.11.22) Anna Dawson (from 08.11.22) Christopher Abbess Yvonne Abbess Richard I Smith (stepped down 08.11.22)

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 Fundraiser 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 Keyworker / Counsellor Diploma in Counselling Jonathan K Mabbutt Part-time Deputy Administrator BSc (Hons), Diploma in Counselling Rosamond H White (CSCT) Part-time Project Worker Stephen C Dodd BSc, PGCE Project Worker Diploma in Counselling

Page 5

TOWER HAMLETS MISSION CIO

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT

Susanne C Lynch BDc (Pharm), NVQ Level 3 Professional Cookery Part-time Project Worker Akik Miah City & Guilds, Level 2 Care Project Worker City & Guilds Diploma Level 2 in Professional Cookery Joe Cox Certificate in Systematic Theology Project Worker Gaetana Vitale IBTI Diploma in Applied Theology Project Worker Certificate in Counselling Martin Berry Diploma in Psychology Part-time Project Worker Diploma in CBT Danielle Chamberlain BSW Part-time 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 T G Malton MBA Dr T W Robson OBE, BSc, MBBS R I Smith (appointed 8.11.22) Mrs A J Dawson BA Dip Counselling (resigned 8.11.22) D J Richter MA BA (Hons) Dip Mgt MCMI FRSA' (resigned 8.11.22) G Roach BA (Hons) (resigned 8.11.22) Mrs E Lamont BA (Hons) Mr D K D Owusu-Yianoma LLB (Hons) BL Barrister-at-law

Auditors

Cobbin Floyd Ltd Chartered Accountants 15a Station Road Epping Essex CM16 4HG

Bankers

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

Page 7

TOWER HAMLETS MISSION CIO

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023

REFERENCE AND ADMINISTRATIVE DETAILS

Solicitors

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

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 18th July 2023 and signed on its behalf by:

Dr T W Robson OBE, BSc, MBBS - Trustee

Page 7

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 2023 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 8

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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

To identify risks of material misstatement due to fraud we assessed events or conditions that could indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud.

Our risk assessment procedures included:

We communicated the identified fraud risks with the audit team and remained alert to any indications of fraud throughout the audit.

As required by auditing standards, and taking into account our overall knowledge of the control environment, we performed procedures to address the risk of management override of controls, in particular the risk that management may be in a position to make inappropriate accounting entries. On this audit we do not believe that there is a fraud risk related to revenue recognition because there are no material judgements involved and a high percentage of the income is received directly from Housing Benefits.

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.

Page 9

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

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.

Cobbin Floyd Ltd Chartered Accountants 15a Station Road Epping Essex CM16 4HG 18th July 2023

Page 10

TOWER HAMLETS MISSION CIO

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2023

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
£
30,380
624,099
15,456
-
669,935
16,235
637,100
6,080
659,415
10,520
(56,187)
(45,667)
2,757,708
2,712,041		 Restricted
funds
£
24,100
-
-
-
24,100
-
80,287
-
80,287
(56,187)
56,187
-
-
-		 2023
Total
funds
£
54,480
624,099
15,456
-
694,035
16,235
717,387
6,080
739,702
(45,667)
-
(45,667)
2,757,708
2,712,041		 2022
Total
funds
£
65,894
592,315
14,213
13,028
685,450
20,481
601,160
8,487
630,128
55,322
-
55,322
2,702,386
2,757,708

The notes form part of these financial statements

Page 11

TOWER HAMLETS MISSION CIO

BALANCE SHEET 31ST MARCH 2023

Notes
FIXED ASSETS
Tangible assets
11
Investments
12
CURRENT ASSETS
Debtors
13
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
14
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
15
Unrestricted funds
TOTAL FUNDS		 Unrestricted
funds
£
2,328,490
227,221
2,555,711
19,348
160,461
179,809
(23,479)
156,330
2,712,041
2,712,041		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-		 2023
Total
funds
£
2,328,490
227,221
2,555,711
19,348
160,461
179,809
(23,479)
156,330
2,712,041
2,712,041
2,712,041
2,712,041		 2022
Total
funds
£
2,355,035
214,725
2,569,760
17,574
182,256
199,830
(11,882)
187,948
2,757,708
2,757,708
2,757,708
2,757,708

The financial statements were approved by the Board of Trustees and authorised for issue on 18th July 2023 and were signed on its behalf by:

Dr T W Robson OBE, BSc, MBBS - Trustee

The notes form part of these financial statements

Page 12

TOWER HAMLETS MISSION CIO

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31ST MARCH 2023
2023
Notes
£
Cash flows from operating activities
Cash generated from operations
1
7,207
Net cash provided by operating activities
7,207
Cash flows from investing activities
Purchase of tangible fixed assets
(20,418)
Purchase of fixed asset investments
(13,438)
Interest received
474
Dividends received
3,438
Unrealised loss/(gain) on investments
942
Net cash used in investing activities
(29,002)
Change in cash and cash equivalents in
the reporting period
(21,795)
Cash and cash equivalents at the
beginning of the reporting period
182,256
Cash and cash equivalents at the end of
the reporting period
**160,461 **		 2022
£
55,014
55,014
(25,877)
(10,000)
11
2,880
(15,908)
(48,894)
6,120
176,136
182,256

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 2023

1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net (expenditure)/income for the reporting period (as per the
Statement of Financial Activities)
Adjustments for:
Depreciation charges
Interest received
Dividends received
Increase in debtors
Increase/(decrease) in creditors
Net cash provided by operations		 2023
£
(45,667)
46,963
(474)
(3,438)
(1,774)
11,597
7,207		 2022
£
55,322
46,152
(11)
(2,880)
(16,491)
(27,078)
55,014

2. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.22 Cash flow At 31.3.23
£ £ £
Net cash
Cash at bank and in hand 182,256 **(21,795) ** **160,461 **
182,256 **(21,795) ** **160,461 **
Total 182,256 **(21,795) ** **160,461 **

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 2023

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 and improvements - 1% - 10% on cost Fixtures and equipment - Straight line over 6 years 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...

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TOWER HAMLETS MISSION CIO

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2023

2. DONATIONS AND LEGACIES

Donations
Gift aid
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
Support costs

continued...

Page 16

TOWER HAMLETS MISSION CIO

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023

6. CHARITABLE ACTIVITIES COSTS

6.
CHARITABLE ACTIVITIES COSTS
Residential services
7.
SUPPORT COSTS
Other resources expended
Residential services		 Support
Direct
costs (see
Costs
note 7)
£
£
658,723
58,664
Governance
Finance
costs
£
£
-
6,080
975
57,689
975
63,769		 Totals
£
717,387
Totals
£
6,080
**58,664 **
64,744

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31st March 2023 nor for the year ended 31st March 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31st March 2023 nor for the year ended 31st March 2022.

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		 2023
£
442,314
37,303
21,704
501,321
2023
13
3
16		 2022
£
384,388
37,814
18,034
440,236
2022
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 2023

10.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
36,394
Charitable activities
Residential services
592,315
Investment income
14,213
Other income
13,028
Total
655,950
EXPENDITURE ON
Raising funds
20,481
Charitable activities
Residential services
525,974
Other
8,487
Total
554,942
NET INCOME/(EXPENDITURE)
101,008
Transfers between funds
(45,686)
Net movement in funds
55,322
RECONCILIATION OF FUNDS
Total funds brought forward
2,702,386
TOTAL FUNDS CARRIED FORWARD
2,757,708
Restricted
funds
£
29,500
-
-
-
29,500
-
75,186
-
75,186
(45,686)
45,686
-
-
-		 Total
funds
£
65,894
592,315
14,213
13,028
685,450
20,481
601,160
8,487
630,128
55,322
-
55,322
2,702,386
2,757,708

continued...

Page 18

TOWER HAMLETS MISSION CIO

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2023

11. TANGIBLE FIXED ASSETS

Freehold
property
and
improvements
£
COST
At 1st April 2022
2,584,476
Additions
20,418
At 31st March 2023
2,604,894
DEPRECIATION
At 1st April 2022
258,250
Charge for year
37,578
At 31st March 2023
295,828
NET BOOK VALUE
At 31st March 2023
2,309,066
At 31st March 2022
2,326,226
12.
FIXED ASSET INVESTMENTS
MARKET VALUE
At 1st April 2022
Additions
Impairments
At 31st March 2023
NET BOOK VALUE
At 31st March 2023
At 31st March 2022
There were no investment assets outside the UK.
Cost or valuation at 31st March 2023 is represented by:		 Fixtures
and
equipment
£
77,439
-
77,439
60,721
3,340
64,061
13,378
16,718		 Motor
vehicles
£
30,228
-
30,228
18,137
6,045
24,182
6,046
12,091		 Totals
£
2,692,143
20,418
2,712,561
337,108
46,963
384,071
2,328,490
2,355,035
Listed
investments
£
214,725
13,438
(942)
227,221
227,221
214,725
Listed
investments
£
Valuation in 2020 5,194
Valuation in 2021 33,623
Valuation in 2022 15,908
Valuation in 2023 2,496
Cost 170,000
227,221

continued...

Page 19

TOWER HAMLETS MISSION CIO

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2023

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Other debtors
Prepayments and accrued income
14.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors
15.
MOVEMENT IN FUNDS
Net
movement
At 1.4.22
in funds
£
£
Unrestricted funds
General fund
2,737,608
2,020
Charis refurbishment fund
100
8,500
Designated funds
20,000
-
2,757,708
10,520
Restricted funds
Sponsorship scheme
-
(56,187)
TOTAL FUNDS
2,757,708
(45,667)
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
661,435
Charis refurbishment fund
8,500
669,935
Restricted funds
Sponsorship scheme
19,100
Residents training
5,000
24,100
TOTAL FUNDS
694,035		 2023
£
2,616
4,840
11,892
19,348
2023
£
23,479
Transfers
between
funds
£
(47,587)
11,400
(20,000)
(56,187)
56,187
-
Resources
expended
£
(659,415)
-
(659,415)
(75,287)
(5,000)
(80,287)
(739,702)		 2022
£
1,952
-
15,622
17,574
2022
£
11,882
At
31.3.23
£
2,692,041
20,000
-
2,712,041
-
2,712,041
Movement
in funds
£
2,020
8,500
10,520
(56,187)
-
(56,187)
**(45,667) **

continued...

Page 20

TOWER HAMLETS MISSION CIO

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2023

15. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Charis refurbishment fund
Designated funds
Restricted funds
Sponsorship scheme
TOTAL FUNDS		 At 1.4.21
£
2,672,386
-
30,000
2,702,386
-
2,702,386		 Net
movement
in funds
£
100,908
100
-
101,008
(45,686)
55,322		 Transfers
between
funds
£
(35,686)
-
(10,000)
(45,686)
45,686
-		 At
31.3.22
£
2,737,608
100
20,000
2,757,708
-
2,757,708

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Charis refurbishment fund
Restricted funds
Sponsorship scheme
TOTAL FUNDS		 Incoming
resources
£
654,775
1,175
655,950
29,500
685,450		 Resources
Movement
expended
in funds
£
£
(553,867)
100,908
(1,075)
100
(554,942)
101,008
(75,186)
(45,686)
(630,128)
55,322

16. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31st March 2023.

17. DONORS DURING THE YEAR

Marie Celeste Samaritan Society Inner London Magistrates' Court's Poor Box Charity & Feeder Charity Marsh Charitable Trust The Sir James Roll Charitable Trust The Vandervell Foundation The Worshipful Company of Coopers The Invesco Cares Foundation The Leigh Trust The Horners Charity Fund The John Booth Charitable Foundation The Tylers & Bricklayers Charitable Trusts Lyn Ellis Foundation Canary Wharf Trust The Mrs L D Rope Third Charitable Settlement

Page 21

TOWER HAMLETS MISSION CIO

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2023

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Gift aid
Grants
Investment income
Rents received
Dividends received
Bank interest received
Charitable activities
Residential service income
Therapy income
Other income
Unrealised gain on investment
Total incoming resources
EXPENDITURE
Raising donations and legacies
Wages
Social security
Direct fundraising costs
Charitable activities
Wages
Social security
Pensions
Direct costs
Insurance
Depreciation of tangible fixed assets
Support costs
Finance
Bank charges
Carried forward		 2023
£
10,571
1,714
42,195
54,480
11,544
3,438
474
15,456
611,758
12,341
624,099
-
694,035
13,983
1,818
434
16,235
378,734
30,991
21,704
164,918
15,413
46,963
658,723
33
33		 2022
£
3,768
3,151
58,975
65,894
11,322
2,880
11
14,213
576,661
15,654
592,315
13,028
685,450
12,585
919
325
13,829
329,181
33,126
18,034
121,448
13,480
46,152
561,421
297
297

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 2023
Finance
Brought forward
Unrealised loss on investment
Governance costs
Wages
Social security
Auditors' remuneration
Legal fees
Total resources expended
Net (expenditure)/income		 2023
£
33
942
975
49,597
4,494
8,598
1,080
63,769
739,702
**(45,667) **		 2022
£
297
-
297
42,622
3,769
8,190
-
54,581
630,128
55,322

This page does not form part of the statutory financial statements

Page 23