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2022-08-31-accounts

Bethnal Green Spear Trust The Vicarage St. Peter's Close London E2 7AE

Bethnal Green Spear Trust – Annual Report and Financial Statements Financial year: 1 September 2021 – 31 August 2022

Contents

Annual Report Pages 2-8 Independent Examiners report Page 9 SOFA Page 10 Balance Sheet Page 11 Notes to the Accounts Pages 12-14

Page 1 of 8

Bethnal Green Spear Trust The Vicarage St. Peter's Close London E2 7AE

Bethnal Green Spear Trust – Annual Report and

Financial year: 1 September 2021 – 31 August 2022

Bethnal Green Spear Trust is a registered Charitable Incorporated Organisation (number 1159691).

Principal and registered office: The Vicarage, St. Peter's Close, London, E2 7AE

Tel: 07496 567055

Email: hello@spearbethnalgreen.org

During the year the following served as trustees of the charity:

Bankers: Reliance Bank Limited, Faith House, 23-24 Lovat Lane, London EC3R 8EB

Independent examiner: Derek Rodwell, Impact The Future Ltd, ITF Ltd, Bennett Verby, 7 St Petersgate, Stockport, Cheshire, SK1 1EB

Structure, Governance and Management

Bethnal Green Spear Trust (BGST) is a Charitable Incorporated Organisation and is governed by a Board of Trustees who hold regular meetings. The Board is made up of

Page 2 of 8

Bethnal Green Spear Trust The Vicarage St. Peter's Close London E2 7AE

people living or working locally in Bethnal Green, or with strong connections to the local community. The trustees met three times during this financial period. Topics discussed by the trustees included finances, fundraising, staffing and strategic planning.

Any person who is willing to act as a trustee, and who would not be disqualified from action, may be appointed to be a trustee by a decision of the trustees. Rebecca Ford Morrisroe was the Chair of BGST until December 2021, there after taking a sabbatical. Heather Atkinson was Acting Chair from January to March 2022, then again from September 2022 onwards. Joe Morrisroe was Acting Chair from April to August 2022. Trustees with relevant knowledge, skills or experience are appointed, and inducted, for the effective administration of the charity.

Any decision of the trustees must be either by decision of a majority of the trustees present and voting at a quorate trustees’ meeting, or when the majority of trustees have indicated to all the trustees by any means (including email) that they share a common view on a matter. Full trustee meetings occur at least every three months.

Decisions relating to some routine financial matters are delegated by the trustees to a finance committee, consisting of the Chair, the Treasurer, the Finance Controller and Centre Manager. Day-to-day decision-making relating to BGST’s specific charitable activities is delegated to BGST staff appointed to oversee these activities. The organisation of fundraising events is typically delegated to an events committee consisting of selected trustees and other individuals with relevant experience.

The trustees have reviewed the major risks to which the charity is exposed and systems or procedures have been established to manage those risks. In particular, the charity has documented procedures and policies with regards to finance, working with children and vulnerable adults, health and safety and other matters.

BGST looks to learn from and work in partnership with other organisations with experience relevant to its charitable activities. In particular, since its formation in 2014, it has worked closely with Resurgo Trust. Resurgo Trust is a charity founded through St Paul’s Church in Hammersmith in 2003. Resurgo aims to stimulate significant social transformation in local communities by helping people facing serious social disadvantage to transform their situation. In particular, among its activities, it has developed the Spear programme for young people. Resurgo has provided BGST staff with extensive training, ongoing support and course materials to enable them to conduct the Spear programme.

Key relationships

BGST believes that relationships are critical to its continuing success. BGST’s staff provide continuing skill and dedication in developing fruitful relationships in the community, to support the work of Spear. St Peter’s Church provides invaluable support via the expertise and time of its staff and members, as well as donated office and training space. The generosity of BGST’s corporate partners, volunteers and individual

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Bethnal Green Spear Trust The Vicarage St. Peter's Close London E2 7AE

donors is hugely appreciated, as well as their connections into job opportunities for the young people on the programme.

Public benefit

The trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have regard to the Charity Commission guidance on public benefit. The trustees regard BGST’s activities as manifestly for the public benefit in that there is an identifiable benefit to local young people, as described in this report.

Objectives and Activities

Bethnal Green Spear Trust is a charity set up by members of the congregation of St Peter’s Church, Bethnal Green and based at St Peter’s, to tackle youth unemployment in East London.

Although the Spear programme is non-proselytising, BGST trustees are motivated by the desire to turn faith into practical action by living out God’s love for people who are in need and marginalised. BGST serves individuals and works with organisations of any beliefs to bring about transformation in the community, believing that everyone has the right to dignity in society, development of their skills, a chance to work, and hope for the future.

The object of the charity, as set out in its Governing Document, is:

…for the benefit of the public and within a Christian ethos, to act as a resource for young people between the ages of 16 to 24 living in East London by providing advice, assistance and support and organising educational programmes and other activities as a means of:

Spear Bethnal Green Trust achieves these objectives through delivering the Spear Programme, which uses executive coaching techniques to build the skills, attitudes and behaviours required in the workplace. Spear starts with an intensive six-week course with 12-15 young people, combining coaching sessions on practical employment skills with sessions focused on developing positive attitudes and behaviours. This includes sessions

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Bethnal Green Spear Trust The Vicarage St. Peter's Close London E2 7AE

aimed at bringing about a mind-set change (such as stepping out of comfort zones; persevering through challenges; and developing a growth-mindset) as well as practical CV writing and interview skills. The young people also build their confidence through mock interviews with volunteers. The first six weeks conclude with a celebration of trainee’s achievements attended by families and members of the community. This is then followed by a year of 1-2-1 career coaching, to help these young people find work, training or to settle into working life. This includes encouragement and advice on interviews, as well as practical help, such as access to laptops where needed to send job applications.

To achieve its objectives, BGST has maintained a strong relationship with its partner Resurgo to raise adequate funding, to recruit and retain suitable qualified and trained staff, and to publicise the work of BGST and the Spear programme.

BGST has used existing relationships in and around St Peter’s Church, and instigated new relationships with local businesses in East London and the City of London, to grow a strong volunteer base and continued financial support.

BGST employs three staff at its Spear centre, each with a background in education and training for young people. They received regular training from Resurgo. The relationship with Resurgo was further strengthened through regular formal and informal meetings between individual BGST trustees and Resurgo staff.

In order to attract young people to the Spear course, BGST staff publicise the courses directly at local Job Centres and also to local social service professionals (including targeted youth support teams, youth justice and family intervention services), charities, hostels, doctor surgeries, apprenticeship providers, secondary schools and other education providers and organisations who can make referrals. Local business, civic, political and charitable figures were invited to the Spear Celebration evenings at the end of each six-week programme, many of whom attended and subsequently have championed Spear, referred young people to the programme, or have volunteered on the programme.

BGST looks to make extensive use of volunteers in its activities, as we believe that there are rich opportunities for mutual benefit. Volunteers are particularly valued as mock interviewers of course participants, and hosts for company visits or work experience placements.

In this financial year, the delivery of the Spear Programme continued to recover from the Covid-19 pandemic. The in-person programme (as opposed to online training) recommenced in September 2021.

Achievements and Performance

BGST prides itself on providing transformative training for the young people on our programmes, and on delivering impressive results.

BGST ran six Spear programmes during this financial period (September 2021 to August 2022). The total number of participants of these courses was 82 of whom 74 successfully

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Bethnal Green Spear Trust The Vicarage St. Peter's Close London E2 7AE

completed the programme. Follow up indicated that 74% of trainees had found work within 3 months and 83% of Spear Candidates were in employment, education or training after 12 months.

By August 2022, the Spear centre health check had improved its score from the higher side of ‘performing’ to ‘thriving’.

The young people who engage with Spear often have a multitude of barriers holding them back from work. More than 65% of the trainees who do Spear have three or more barriers to employment including having mental health challenges, a criminal record, low educational attainment, family involved in crime and living in council or supported housing.

Case Study: Edward’s story

Edward* completed the programme in August 2022 and went on to work fulltime in a skate shop: -

‘I’ve battled with mental health for as long as I can remember. I was at my lowest point before I started Spear. I was facing a lot of confidence issues, was barely able to look people in the eyes when I was speaking to them. Then I received a call from Sarah (Spear Coach) explaining what the programme was about.

‘Spear showed me how to speak to people properly, how to put into words what I was thinking. They helped me with a CV. Before Spear I wouldn’t even get emails back from jobs I was applying to, but since doing Spear I’ve received more emails back from potential employers than the last one and half years of trying to find work.

‘I've been in a fixed mindset for a really long time, but now I'm in the growth mindset – I don’t wait for things to come to me, I have to go out and get it for myself.’

(*Name changed to protect identity)

Financial review

Owing to successful fundraising by the trustees and careful management of the programme, overall income in 2021-22 (£93k) was only £6k below expenditure (£99k).

Grants from trusts (£58k) was the principle source of income, while grants from Hixcox Underwriting (£25k) were a welcome and significant contribution to income.

Donations from regular individual supporters and occasional donations amounted to £11k, and sponsorship income through the Resurgo Trust was £2k.

On the expenditure side, the cost of staffing (three full-time employees) was £84k. Administrative costs were £11k while costs relating to delivering the training programme were £4k.

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Bethnal Green Spear Trust The Vicarage St. Peter's Close London E2 7AE

BGST received support in kind from St Peters Bethnal Green, including room hire, office accommodation, financial and administrative support.

Total unrestricted funds carried forward were £34k, which represents over 6 months of unrestricted running costs.

Note: - In order to establish Spear Bethnal Green in its first financial year (September 2014 – August 2015), Resurgo provided BGST with seed funding of £35,000 to establish the Spear Centre and provide financial stability in the first year of operations. Resurgo are committed to the sustainability of BGST as part of the joint venture partnership and therefore this is being paid off on a long-term, flexible basis, with no interest incurred. The repayment of this seed funding began in July 2017, and the payments made to date total £29,264, leaving £5,736 outstanding. The loan repayment is outside of the above figures.

The Trustees’ responsibilities in relation to the financial statements

Charity law requires the Board of Trustees to prepare financial statements for each accounting year, which give a true and fair view of the state of the charity and of its income and expenditure for the year. In preparing those financial statements the trustees are required to:

The Board of Trustees is responsible for keeping adequate accounting records which disclose, with reasonable accuracy at any time, the financial position of the charity and enable it to ensure that the financial statements comply with applicable accounting statements and statements of recommended practice and the regulations made under the Charities Act 2011. The Board is also responsible for safeguarding the assets of the charity and for taking reasonable steps to prevent fraud or any other irregularities.

The Board of Trustees has examined the charity’s requirements for reserves in the light of the main risks to the organisation. BGST aims to have funds that, together with future regular contributions and other committed sums, would be sufficient to cover at least the next 3 months of its activities. This is to mitigate against the risk of a cashflow deficit should insufficient funds be raised to meet the ongoing cost of operations. BGST makes use of St Peter’s Church premises. It therefore has limited exposure to the costs of repair and upkeep of its facilities. The trustees continue to review and assess the key risks facing the charity and ensure appropriate actions are taken.

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Bethnal Green Spear Trust The Vicarage St. Peter's Close London E2 7AE

At 31 August 2022, BGST held cash funds sufficient to cover over 3 months of regular outgoings to deliver the Spear programme.

Future plans

BGST plans to continue the activities outlined above in the forthcoming years, continuing to deliver exceptional training and impressive results, and working to deepen relationships with other organisations in the local community to increase referrals and open up new opportunities for the young people we have the privilege of working with.

Approved by the Board of Trustees on 22/01/2024 and signed on its behalf by:

Full name Joy Smith

Position Chair of Trustees (since 01/01/2023 )

Date 22/01/2024

Page 8 of 8

Independent examiner’s report to the Trustees of Bethnal Green Spear Trust

I report on the financial statements of the charity for the period ended 31 August 2022, which are set out on pages 10 to 14.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under section 145 of the Charities Act 2011 (the 2011 Act). I am qualified to undertake the examination by being a qualified member of the Chartered Institute of Certified Accountants

Having satisfied myself that the charity is eligible for independent examination, it is my responsibility to:

This report, including my statement, has been prepared for and only for the charity’s trustees as a body. My work has been undertaken so that I might state to the charity’s trustees those matters that I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to any other than the charity and the charity’s trustees as a body for my examination work, for this report or for the statements that I have made.

Basis of independent examiner’s report

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

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

Date: 2[nd] February 2024

Derek Rodwell FCCA

Bennett Verby, 7 St Petersgate, Stockport, Cheshire. SK1 1EB

Page 9

BETHNAL GREEN SPEAR TRUST
STATEMENT OF FINANCIAL ACTIVITY
FOR THE YEAR ENDED 31 AUGUST 2022		 2022
2022
2022
2021
2021
2021
Notes Unrestricted
funds
Restricted
funds
Total
funds
Unrestricted
funds
Restricted
funds
Total
funds
£
£
£
£
£
£
INCOME FROM
Grants & Donations
Regular giving
Grants and other fundraising
2
Gift Aid
Other Income
3
TOTAL INCOME
EXPENDITURE ON
Charitable activities
Operating expenses - salaries
Other Operating expenses
Copier/printer costs
IT Support
Meeting Subsistence
Professional services
TOTAL EXPENDITURE
NET MOVEMENT IN FUNDS
TRANSFERS BETWEEN FUNDS
BALANCE BROUGHT FORWARD AT 01/09/21
BALANCE CARRIED FORWARD AT 31/08/22		 10,949
0
10,949
9,481
0
9,481
42,817
42,514
85,331
48,981
24,450
73,431
(3,072)
0
(3,072)
1,808
0
1,808
50,694
42,514
93,208
60,270
24,450
84,720
0
0
0
4,953
0
4,953
50,694
42,514
93,208
65,223
24,450
89,673
41,464
42,330
83,794
36,627
32,131
68,758
2,338
100
2,438
2,616
1,802
4,418
4,564
0
4,564
4,970
0
4,970
3,608
0
3,608
5,429
0
5,429
2,773
0
2,773
284
0
284
1,412
0
1,412
1,502
0
1,502
56,159
42,430
98,589
51,429
33,933
85,362
(5,465)
84
(5,381)
13,794
(9,483)
4,311
0
0
0
0
0
0
(5,465)
84
(5,381)
13,794
(9,483)
4,311
33,595
615
34,209
19,800
10,098
29,898
28,130
698
28,828
33,595
615
34,209

Page 10

BETHNAL GREEN SPEAR TRUST BALANCE SHEET

AS AT 31 AUGUST 2022

Note
CURRENT ASSETS
Debtors
4
Cash at bank and in hand
LIABILITIES: AMOUNT FALLING DUE WITHIN ONE YEAR
5
NET CURRENT ASSETS
LIABILITIES: AMOUNT FALLING DUE AFTER ONE YEAR
6
NET ASSETS
REPRESENTED BY:
Unrestricted
Restricted
TOTAL FUNDS
9		 2022
2021
£
£
5,961
9,827
32,071
33,562
38,032
43,389
(3,468)
(3,444)
34,564
39,945
(5,736)
(5,736)
28,828
34,209
28,130
33,595
698
615
28,828
34,209

The notes on pages 12 to 14 form part of these financial statements. Approved by the trustees on and signed on its behalf by:

Joy Smith on 22/01/2024

Chair of the Trustees:

Page 11

Bethnal Green Spear Trust

Notes to Accounts for the year to 31st August 2022

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

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

The charity expects to be able to continue in operation through the continued receipt of grants. Cash flow forecasts for the next 12 months indicate that income and cash balances carried forward should be sufficient to cover the budgeted costs.

Funds

General funds represent the funds of the Trust that are not subject to any restrictions regarding their use and are available for application on the general purposes of the Trust activities. Restricted funds are those donated for specific purposes.

Fixed assets

The Trust has recognised no fixed assets in the financial statements. When such assets are purchased, only items of greater than £500 are capitalised.

Investments

The Trust has no investments at 31 August 2022.

Grants

Revenue grants are credited to the statement of financial activities when received or receivable whichever is earlier, unless they relate to a specific future period, in which case they are deferred.

Page 12

Bethnal Green Spear Trust Notes to Accounts for the year to 31st August 2022

**2 ** Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
Grants & Other fundraising
funds
funds
funds
funds
funds
funds
2022
2022
2022
2021
2021
2021
£
£
£
£
£
£
James Knott Grant
15,000
0
15,000
15,000
0
15,000
Investec grant
0
0
0
0
6,950
6,950
EECF grant for graduate coach 20/21 (switched to lead coach)
0
0
0
0
3,000
3,000
Love Your Neighbour grant (DCMS via CRT)
0
0
0
24,145
0
24,145
Lawrence Atwell Charity for graduate coach
0
10,000
10,000
0
10,000
10,000
Henry Smith fund restricted to centre manager costs
0
33,000
33,000
0
0
0
Resurgo Grant for Grad coach - refunded
0
(486)
(486)
0
2,500
2,500
Grant from Henry Fawcett fund towards fundraiser
0
0
0
0
2,000
2,000
Hiscox Foundation
24,929
0
24,929
0
0
0
Income from fund-raising
2,888
0
2,888
9,836
0
9,836
42,817
42,514
85,331
48,981
24,450
73,431
Note re purpose of grants		 Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
Grants & Other fundraising
funds
funds
funds
funds
funds
funds
2022
2022
2022
2021
2021
2021
£
£
£
£
£
£
James Knott Grant
15,000
0
15,000
15,000
0
15,000
Investec grant
0
0
0
0
6,950
6,950
EECF grant for graduate coach 20/21 (switched to lead coach)
0
0
0
0
3,000
3,000
Love Your Neighbour grant (DCMS via CRT)
0
0
0
24,145
0
24,145
Lawrence Atwell Charity for graduate coach
0
10,000
10,000
0
10,000
10,000
Henry Smith fund restricted to centre manager costs
0
33,000
33,000
0
0
0
Resurgo Grant for Grad coach - refunded
0
(486)
(486)
0
2,500
2,500
Grant from Henry Fawcett fund towards fundraiser
0
0
0
0
2,000
2,000
Hiscox Foundation
24,929
0
24,929
0
0
0
Income from fund-raising
2,888
0
2,888
9,836
0
9,836
42,817
42,514
85,331
48,981
24,450
73,431
Note re purpose of grants
42,817
42,514
85,331
48,981
24,450
73,431

All the grants were for the same purpose, namely: - ‘To support young people facing barriers to employment into jobs, education and apprenticeships. By the end of the year long coaching programme, over 80% of young people are in an opportunity, which we know positively impacts their mental health, ends long term unemployment and gives purpose where previously this was lacking.'

3 Other Income
Reimbursed salary costs from Resurgo
4 Debtors
Gift aid tax recoverable
Accrued income
Other debtors
5 Liabilities: falling due within one year
Loan from Resurgo- amount to be repaid in next 12 months
Amounts owed to HMRC for PAYE/NI
Independent examination fees owed
Accrual for IT support costs
Employer's pension contribution, owed to B&CE Ltd
6 Liabilities: not falling due within one year
Resurgo loan
7 Employment costs
Gross pay to employees
Employer's NI (net of employers allowance)
Employer's pension contribution		 2022
£
0
0
2022
£
4,621
1,340
0
5,961
2022
£
0
1,444
800
630
594
3,468
2022
£
5,736
5,736
2022
£
75,441
2,348
6,005
83,794		 2021
£
4,953
4,953
2021
£
7,693
0
2,134
9,827
2021
£
0
1,303
1,600
0
541
3,444
2021
£
5,736
5,736
2021
£
62,814
1,080
4,865
68,758

8 Employees

a) There were on average FTE of 2.75 people (2021 2.2) employed by the charity during the financial year.

Page 13

b) No employee was paid more than £60,000

The role of key management personnel was undertaken by Emma Achurch, who was the centre manager. Rebecca Ford Morrisroe was the Chair of BGST until December 2021, there after taking a sabbatical. Heather Atkinson was Acting Chair from January to March 2022, then again from September 2022 onwards. Joe Morrisroe was Acting Chair from April to August 2022. The chair of trustees role receives no remuneration. Total remuneration (including NI and pension) of the key personnel came to £32,400 (£34,137 in 2020-21).

9a

Statement of Funds 2020-21
Unrestricted funds
Restricted funds		 Opening
balance
Income Expenditure
Closing
Balance
01/09/2020
31/08/2021
19,800
65,223
51,429
33,594
Graduate Coach fund
Lead Coach fund
Centre Manager fund
Grant for non-salary operational costs
Grant for fundraiser		 0
2,500
2,083
417
10,098
13,000
23,098
0
0
0
0
0
0
6,950
6,950
0
0
2,000
1,802
198
10,098
24,450
33,933
615
29,898
89,673
85,362
34,209

Note for 20/21

Grants restricted to the graduate coach received in 19/20 have been allocated to the lead coach in early 20/21 as the graduate role was not filled for a few months. On the centre manager fund, Henry Smith gave permission that the balance of £8,208 could be used for general costs (£3,110) and for the lead coach (£5,098)

9b

Statement of Funds 2021-22
Unrestricted funds
Restricted funds
Graduate Coach fund
Lead Coach fund
Centre Manager fund
Grant for non-salary operational costs
Grant for fundraiser		 Opening
balance
Income Expenditure
Closing
Balance
01/09/2021
31/08/2022
33,594
50,694
56,159
28,129
417
9,514
9,931
0
0
0
0
0
0
33,000
32,400
600
0
0
0
0
198
0
100
98
615
42,514
42,430
698
34,209
93,208
98,589
28,828

10 Analysis of net assets between funds

Fixed assets
Current assets
Creditors due within one year
Creditors due after one year
NET ASSETS		 Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
funds
funds
2022
2022
2022
2021
2021
2021
£
£
£
£
£
£
0
0
0
0
0
0
37,334
698
38,032
42,774
615
43,389
(3,468)
0
(3,468)
(3,444)
0
(3,444)
(5,736)
0
(5,736)
(5,736)
0
(5,736)
28,129
698
28,828
33,594
615
34,209

11 Related party transactions

No trustees or related parties received any benefits or remuneration during the period. No expenses for fulfilling their role as a trustee were claimed by trustees during the year.

12 Governance Costs

The accounts for 2021/22 include £800 for the costs of an independent examination, including preparation of accounts (£800 in 2020/21).

13 Volunteers

BGST looks to make extensive use of volunteers in its activities, as we believe that there are rich opportunities for mutual benefit. Volunteers are particularly valued as mock interviewers of course participants, and hosts for company visits or work experience placements.

Page 14