2024-03-31-accounts

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STITCHES IN TIME

FINANCIAL STATEMENTS

Year ending March 31, 2024

Charity no. 1172056 - Company no. 10515657

Limehouse Town Hall, 646 Commercial Road, London, E14 7HA Tel: [phone]

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CONTENTS

Reference and Administrative Information	3
Trustees’ Report	4
Independent Examiner’s Report	14
Statement of Financial Activities	20
Balance Sheet	21
Notes to the Accounts	22

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Trip to Cambridge

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REFERENCE AND ADMINISTRATIVE INFORMATION

Trustee list

Hendrika Santer Bream (Chair) Teresa Hare Duke (Vice Chair) Annie Gargya (Secretary) Margaret Mitchell Syeda Jeba Maleque Katherine Scott (to 28 February 2024) Lavell Charlemagne (to 21 February 2024) (Treasurer) Moymona Begum (Treasurer from 21 February 2024)

Premises

Limehouse Town Hall 646 Commercial Road London E14 7HA

Charity & Company number

Charity no. 1172056 Company no. 10515657

Independent Examiner

Ian Price 10 Kent Close Westoning Bedfordshire MK45 5LW

Bankers

Co-operative Bank PO Box 250 Delf House Southway Skelmersdale WN8 6WT

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Trustees’ report

The Trustees present their report and accounts for the year ending 31 March 2024.

Objectives and activities

The Charity’s aims and objectives are:

1) to advance education particularly but not by way of limitation in all aspects of arts, crafts and applied arts particularly but not by way of limitation that of tapestry and needlework.

2) to provide or assist in the provision of facilities for recreation and other leisure time occupation, in particular the provision of facilities for arts and crafts, in the interests of social welfare with the object of improving the conditions of life, and

3) thereby to encourage good race relations for the benefit of the public by drawing together all members of the community irrespective of race, religion, gender or political beliefs in the pursuit of these objects.

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Making “The Maze” tapestry

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Our context

We are based and operate mostly, but not exclusively, in the east London Borough of Tower Hamlets. Lack of employment, isolation and poverty are significant problems for our local population. Beneath the poverty line, average incomes for Black and minority ethnic people have fallen faster and deeper than they have for white people over the last decade, with this becoming particularly pronounced since the start of COVID-19. As a result, Black and minority ethnic people are currently 2.2 times more likely to be in deep poverty than white people, with Bangladeshi people more than 3 times more likely. (Falling Faster amidst a Cost-of-Living Crisis, Runnymede, 2022). Tower Hamlets has by far the largest proportion of Bangladeshi residents in the UK with one in six people of Bangladeshi origin in England and Wales living in the borough (Tower Hamlets State of the Borough, 2023).

As well as impacting our community, the cost of living crisis and the pandemic have also contributed to creating a more challenging fundraising climate.

This is why it is so important that we continue to

• Provide a forum to enable culturally diverse groups to work together

• Run educational programmes to raise levels of achievement

• Raise levels of confidence and skills-based learning for women, young people and older people

• Create partnerships between the voluntary, statutory and private sectors.

We have continued to respond rapidly and adapt to changing needs, keeping our important frontline services going and ensuring local communities have access to pathways of support. We have done this through rigorous data collection, expanded partnerships, and close working with funders to continue to meet objectives and to modify them where needed.

We are often a first port of call for help, and many people we work with face barriers when accessing other support services. We have continued to do our work through a mixture of innovative, creative activities and support and referral for complex issues.

We have continued to develop our commercial enterprise, FabricWorks, providing opportunities for our beneficiaries while also beginning to generate income for the charity.

We have been working to bring people together for 31 years, and are one of the longest-standing arts and educational organisations in the borough, demonstrating valuable results through our work year on year.

Some key statistics from our participants

93% have a greater support network

98% feel they have contributed positively to their local community 100% feel happier and more hopeful for the future

Data taken from the Sewing Support Network

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Our core work

Our core work consists of:

• Our 'Sewing Support Network', including ‘English for Sewing’ classes and personal support. This is attended by Bangladeshi and other ethnic minority, long-term unemployed women with English as a second language where, through sewing and conversation they improve their skills, confidence, English and employability

• Providing confidential 1-to-1 advice services, accredited to the Matrix Standard for Information, Advice, and Guidance

• Sewing Social classes, Makers Meets and Elders Stitch Club, for isolated women to meet and sew together

• Varied volunteer programmes supporting women to take on roles to increase confidence, skills and aspirations

• Community textile and visual art projects ranging from one week to two years working with diverse communities to make socially engaged artwork

• Developing an archive of our textile projects, including our original 50 Millennium Tapestries (our founding project to which over 3000 people contributed)

• Our FabricWorks textile social enterprise, creating textile commissions while providing employment, training and industry experience to marginalised women. We are seeking to develop this further so that it can offer financial support to the charity .

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Stitch club

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Highlights of the year

Our main theme this year has been creative co-production. It has been a delight to develop our relationships with a number of partners to bring both creative and relevant opportunities across our network alongside our core activities. Our work continues to show how textiles and creative projects offer so much more for our people than just developing their skills. Our projects are co-designed with users in response to their needs, to empower individuals and build strong, inclusive, and cohesive communities.

FabricWorks

We have focussed on growing and developing our social enterprise FabricWorks, so that we can provide more training and employment for local women, contribute to the creative industries in the East End and ultimately generate income for our charity.

This year was one of FabricWorks’s most successful yet. We’ve expanded our capacity to take on larger production volumes, which has enabled us to diversify our income sources and increase the variety of products we create. This growth has led to an expanded team, including more trainees who are gaining valuable skills and experience in garment and textile production.

A significant focus this year has been on embedding circular practices into our operations. By collaborating with brands and organisations committed to sustainability, we've developed products made from textile waste and have expanded our upcycling and reworking initiatives. One of our standout projects was a partnership with the National Portrait Gallery for its reopening. Our team worked with their buying team to repurpose off-cuts from the gallery’s wall installations to create zero-waste cushions, aligning sustainability with innovation.

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The FabricWorks team

Looking ahead, FabricWorks aims to continue setting the standard for sustainable production in the industry. We are proud to offer our team flexible working hours, living wages, and a production model that challenges traditional norms through a commitment to

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upcycling and conscious manufacturing. This approach reflects FabricWorks's dedication to creating a more equitable, responsible, and innovative future for garment production — one that empowers women, enriches the local creative community, and contributes to a sustainable industry.

“As women when we go through changes, particularly motherhood, We’re often the ones who take a step back in our careers and employment. Now with my three young children, other types of employment no longer work for me, I need and want to work around my children’s timetable.

FabricWorks has given me a skill for life which has allowed me to use it as a trade and when you go out and earn your own money it’s invaluable and brings so much joy.

We are producing clothing in a factory but we are considered as individuals, not robots, we’re a community of women and like a family. We’re a happy team and when we can balance home and work life, we inevitably end up producing better quality items. The fact that it’s sustainably produced means we’re doing our bit for the planet, which we’re all passionate about!”

- Fieruza, FabricWorks team member and machinist

The By You Tapestry

We are incredibly proud of the By You Tapestry.

In April 2020, as the world faced isolation from the pandemic lockdowns, we called upon makers from across the world to embroider and send us scenes showing their lockdown experiences. We received over 275 textile pieces from 190 people.

Sewn in many parts by hand, we took these contributions and, supported by funding from the Arts Council, started work to piece these sections together in partnership with various community groups and artists that we work with across Tower Hamlets.

The contributions to the By You Tapestry were sent from as far afield as Australia, New Zealand, USA, Canada, France and Germany, as well as the UK They tell the story of daily life during the pandemic, from common experiences such as the isolation and the panic buying, to very personal stories and experiences.

Once sewn into a 26-metre-long tapestry and displayed in the Schools and Communities Space at the Tower of London from June to August 2024, we believe that these stories will powerfully resonate with visitors and provide a point of reflection.

“Stitching has not only passed the time but has brought me calm and purpose. This project appealed to me because it provided an opportunity to indulge my love of making small scenes and also gave me the chance to express what I’ve been doing during lockdown.”

- Tapestry Contributor

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Making up the By You Tapestry

Creative projects

Building on the insights we have gained into the hardships and barriers women experience through the development of our Information, Advice and Guidance (IAG) programme we have over the past year endeavoured to tailor our creative projects to address some of their issues and give voice to participants' lived experience.

A Changing Tapestry of Limehouse

From March to September 2023 we collaborated with Dr Shane Boyle of Queen Mary University of London, and Teresa Hare Duke, an independent curator and arts practitioner, on “A Changing Tapestry of Limehouse”. This co-produced Arts and Humanities Research Council-funded project created a conversational forum for groups of Limehouse residents and visitors to reflect on how creative practices can be used to advocate for civic inclusion and greater fairness of opportunity.

Over several months of conversations and a series of textile making workshops with Stitches in Time participants, women of Bangladeshi origin and elderly residents in Tower Hamlets, this project culminated in a public event and exhibition as part of Open House weekend . The work highlighted the challenges faced by local communities, facilitated their voices to be heard on these issues and explored the past and future role of arts activism in shaping a changing Limehouse.

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The two new co-produced textile pieces ‘the Maze’ and ‘Limehouse Linked’ created in workshops were displayed alongside several historic works by Stitches in Time, Welfare State International, the Space Hijackers, and current creative projects with Praxis for Migrants that gave a sense of the rich history of arts activism in the area.

Giant Weave

We opened our studios all weekend, alongside a number of residents, at Limehouse Town Hall. Members of the public were invited to explore the works on display and to add their own voice to the conversation by contributing to a giant ‘collaborative weave,’ which visually represented what locals believe needs to happen to ensure a fairer future in Limehouse. They also had the chance to explore the historic building and to take a look at the interesting things that happen here.

There was a well-attended panel discussion hosted by FabricWorks sharing our experience of the past 8 years in how to manufacture ethically, how to support unemployed women facing barriers into work, and the ever-changing challenges the manufacturing industry faces.

Women and Asthma - Imperial College London, funded by the Wellcome Collection

This is a 3 year-long project working in collaboration with researchers from Imperial College London and creative community organisations across the UK and with women with lived experience of asthma. The project’s aim is to change perceptions about asthma, revealing the diversity and complexity of the condition and associated health inequalities through sharing stories, knowledge and experiences in creative ways. We have been carrying out creative facilitation to guide participants to express their experience of asthma through visual arts. This will lead to a multi-group public engagement exhibition in 2025.

“I have made valuable connections with ladies with lived asthma whom I can now go to for advice. Previously I didn't have anyone to speak or discuss my [child’s] condition with.”

- Lived Experience Participant

“I felt I was able to participate better as I could express my feelings and experiences through crafts. At first I thought about how this would work, but after I really enjoyed it and felt I expressed everything better than I would have with words.” - Lived Experience Participant

English For Action - Creative community tapestry

We worked with participants of a local ESOL (English for speakers of other languages) class run by English for Action (a grassroots education charity) to celebrate the class's 10th anniversary and create a banner showcasing what ESOL means to them. This is a piece that can be used as part of their campaigning work #LoveESOL to make ESOL education more accessible to Londoners.

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Presentation of English for Action banner

“What has been a joyful and collaborative piece of creativity that was the source of great pride for the makers will be on display in Chisenhale Primary School, as well as a banner for future events… [Stitches] was instrumental in helping us to think about the final product, how it would come together and the steps that we would need to take to get there.”

• English for Action ESOL Teacher-Organiser

The Henry Smith Charity

Over this year we were successful in securing a further three years of funding from the Henry Smith Charity for our The Sewing Support Network (SSN). This is a holistic, peer-led, social network successfully helping some of the most marginalised people in Tower Hamlets and addressing high levels of isolation in women in the borough.

We work with predominantly long-term unemployed Muslim women from Bangladesh. Our SSN activities are weekly, free and run in various community locations, including;

• English for Sewing Classes

• Sewing Social Classes

• Makers Meet social creative meetups

• on-demand access to non-advertised, bilingual Matrix-accredited Information, Advice and Guidance

‘Travel for Independence’ is a new venture: sessions create opportunities for small groups of women to gain experience and confidence in travelling across London independently.

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Cambridge Mosque trip

Joining Stitches has enabled me to learn new skills as well as giving me a chance to share my skills amongst the trustworthy, friendly people I've met. It was truly a life changing experience, I've become confident, strong and finally feel valued. I'm no longer afraid to join a new organisation and seek help.

• Sewing Support Network participant

This network provides crucial social contact, personal support, friendship, English learning, skills development, creative opportunities, group discussion, peer-mentoring and volunteering opportunities.

Women reported that attending classes improves their self-confidence and sense of resilience. Our workshops, sessions and support services, embedded in a holistic, person-centred approach, not only offer the opportunity to learn English and sewing, but become instrumental in empowering the participants to feel that they can take control of their own lives and futures. This has the ripple effect of giving them a voice to advocate for themselves in many areas of their lives.

The solidarity, sisterhood and inspiration of others has opened up possibilities for many about making small changes to reach long term goals in their personal circumstances, education, training and work. This gives them the strength to persevere, despite barriers they may continue to face, with women saying “if she can get a bank account, if she can learn to drive, if she can start earning her own money, maybe I can”.

“Being able to speak to the hospital and with my GP and medical practitioners, that gives me hope I can manage my own health issues.”

• Class participant

This grant over the past three years has been instrumental in securing ongoing and consistent support for our beneficiaries at a time of crisis and change. Our beneficiaries have

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been very vocal about their gratitude that we’ve been able to adapt and continue to provide such a vital service during these difficult times and when they’ve felt forgotten and left behind by other services.

“I used to feel hopeless and that I would always be dependent on others but I have come so far, it makes me hopeful about what will be next and what can I achieve next.”

- Class participant

Strategic development

We continue our successful organisational development strategy that reflects the environment we work in. Underpinning this are our core directives:

• 1 - Better evidence

• 2 - More visibility

• 3 - Strengthen local partnerships

• 4 - Become more secure as an organisation

We have made good progress with these aims, despite the cost-of-living and post-pandemic challenges.

1 - Better evidence

Through our Sewing Support Network and our Support and Advocacy work we have collected a rich source of data regarding the circumstances and needs of our beneficiaries. We use this to help us understand their needs and to continue to adapt our offer, and we are able to use it to evaluate the effectiveness of our interventions.

During the year, we were part of the Tower Hamlets Together programme. This was a cross-borough network of social benefit organisations being supported by East London NHS Foundation Trust and its Quality Improvement team to improve data collection and improvement practices. As part of the programme, we went through a process to:

• Re-map all current beneficiary aims and objectives and outputs

• Trial new change ideas that we think work, such as group trips for independence and inviting health professionals to visit groups to improve health issue awareness and knowledge of the health system

• Include participants in project team meetings, to include further lived experience input

• Revise our data collection processes and trial new methods of analysis

In March 2024 we were reaccredited with the Matrix Quality Standard for Information, Advice and Guidance. The assessment report highlighted as something working particularly well, that an evidence-base is captured to evaluate the IAG and used to develop the service. There was recognition of our use of a Quality Improvement (QI) process to help further develop our impact monitoring mechanism that enables reporting in a way that focuses on community needs and supports government and local authority priorities.

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2 - More visibility

While much of the work we do is with individuals in marginalised communities and therefore not naturally very visible, we continue to have good engagement and support from our funders.

The “By You Tapestry” has been our most widely participated-in project, engaging thousands of people through social media and in our local area. We have received funding to support its display.

Launched by our textile social enterprise FabricWorks in March 2022, our mending service provides an essential resource for our community and is dedicated to sustainability and reducing waste in fashion. This service not only generates income for our charity but also creates employment opportunities for local women. Its visibility and popularity continue to grow. Looking ahead, we plan to invite more community members to participate in mending and sewing classes, aiming to boost sewing skills while raising awareness of sustainability and the principles of slow fashion.

Our continued participation in Open House has welcomed dozens of visitors into the Studio, sparking meaningful conversations and significantly raising the profile of both the charity and FabricWorks. During this time, the FabricWorks team also hosted a panel discussion where team members shared their experiences and insights on the impact of working at FabricWorks. This event successfully attracted brands and influential figures from the sustainable fashion industry, helping us expand our client base and increase our visibility.

Our FabricWorks enterprise manager Gracie also participated in a Design Museum podcast moderated by Orsola de Castro, co-founder of Fashion Revolution, titled Learning and Teaching: Evolving Fashion. Joined by designer-activists Kazna Asker and Nabil El-Nayal, Gracie shared how clothes-making provides meaningful employment, promotes well-being and community, and emphasised the future of fashion in local, regenerative practices. The conversation was inspiring, sparking reflection on our work and expanding our network within the sustainable fashion community.

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Stepney City Farm Eid celebration

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3 - Strengthen local partnerships

Partnership working has always been part of Stitches in Time, from our founding project, the Millennium Tapestry, onwards.

We continue to work in partnership with local organisations including Stepney City Farm and the Locksley Estate Tenants and Residents Association to provide our activities in different local venues in the borough.

Some of our beneficiaries attended sewing courses with Poplar Works and the London College of Fashion, funded by Poplar Harca. This is a useful and successful collaboration equipping participants with skills for employment.

Through our social enterprise, FabricWorks, we have again worked with local designers and brands to deliver sustainable and ethical fabric production, through whom we also gain visibility and opportunities through associated marketing.

In addition, we have worked in close partnership with organisations already mentioned earlier such as Imperial College London, Queen Mary University London, English for Action and the Historic Royal Palaces.

4 - Become more secure as an organisation

The period 2023 - 24 proved a financially challenging year, however, through support of our funders and with a range of interesting project work, we have been able to continue with our important programmed activities and maintain a prudent level of reserves.

We continuously adapt our offer, based on the rapidly changing needs of the beneficiaries and the funding and resources available. All of our projects continue to be community-led, with continuous consultation that ensures projects are relevant, needed, and evidencebased.

Through FabricWorks and our commissioned projects, we continue to explore new revenue streams to bring in employment for local people in our community as well as diversify our sources of income. Our partnerships continue to provide opportunities for fee-based work, often leveraging our organisational knowledge and specialism in creative community engagement.

Our aim for FabricWorks is that it continues to grow, ultimately supporting the charity as well as providing secure and well-paid employment to the team.

Structure, governance and management

The Charitable Trust is constituted by Trust Deed. All necessary procedures have been completed for us to become a company limited by guarantee in addition to our existing registered charity status from 1[st] April 2018. The organisation is a charitable company limited by guarantee as defined by the Companies Act 2006 and registered as a charity with the Charity Commission. The Company was established under a Memorandum and Articles of Association which established the objects and powers of the Charitable Company and is

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governed by its Articles of Association. It was established on 7 December 2016 and the company remained dormant until the new financial year on 1 April 2018.

The Charity aims to have a diverse Board of Trustees and consults and co-produces with service users constantly, using varied methods, to inform our work. Central to Stitches in Time’s ethos is that participants play an essential role in the running and leading of the organisation e.g. running social events and group activities, and introducing new participants.

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Making up the By You Tapestry

Risk Statement: The Trustees have recognised their duty to identify and review the risks to which the charity is exposed, and to ensure that appropriate controls are in place to provide reasonable assurance against fraud and error. The Charity ensures its financial procedures, health and safety policy and safeguarding procedures are reviewed periodically to reflect changing legislation and to refresh knowledge and practice.

STITCHES IN TIME 17 Exemptions from disclosure Stitches in Time does not daim any exemptions from disdosing the names of Trustees, the charity's address, or other infomation nomally included in a Trustees, annual report. Funds held as custodian trustee on behalf of others No funds were held as a custodian trustee on behaw of others during the year. Acknowledgement and thanks We are proud. as a small charity, to have been playing an important role in enabling individuals and local communities to thrive, and to hav8 be8n promoting sewing and arts in the East End and beyond for over 30 years. The Trustees wish to aCknO￿edge and thank the staff for their hard work and dedication throughout the year, in often very challenging circumStan￿s. Their vision, energy and innovation create the environment in which each and every person involved is able to develop personally and to contribute to and engage in the future development of Stitches in Time and Fabricworks. We also acknowledge the important and essents'al contribution of all of our volunteers whose goodwill and support is invaluable to us. We very muL* appreciate the pro-bono support we have been given in a variety of specialist areas. Stitches in Time would not be able to operate without the generous support of its funders and donors. We thank them all for their recognition of the value of our work and their conlinued sponsorship. Approval This report was approved by the Tfustees on 29 November 2024. and signed on their behalf. Trust es

STITCHES IN TIME 18 CHARITY COMMISSION FOR E￿.lAND ANO WALES Independent examinerfs report on the accounts Section A Inde￿ndent Examiner"$ Report Reporttrthe trwl Sii fcHIs IN On ￿¢¢x[￿￿ lorthe yearl 31 IOLk Charlty no lil anyl io93L79 Set out on p•ges I ry)rt to Iru4ees cm my exan￿l￿n ￿the￿coUnts ofts atyJve chJty Trwn forfvyw erthd 311ts2 j 1014- As thechoFdYs th618e8 yoil are re¥￿sIbl8 forth• prep•ats)n of Ihe x))unts wth f￿4￿ements of the Chavli8sAct 2011 Respon5ibifJtie5 and basis ol r•port Ad). er se(K)n 145 ofthe 2011 In caryirwJ OLrt my ek¥nInaI￿, I fv)Ikwed all DiredM gNen tythe CW Commlssion urxler sédion 14S(5)Ibl ol tt A Independent tTh chaiity's gm$5 4rq)rve excethj £2X1,O￿•d l am quakn[￿d to examlnerf9 ¥tstement Un￿ke examhiatkx ty beffig a qLHlrfd AC.N I h￿e oynthyj rryy exanina1KJn. I c￿filM that ￿ rnalerial mthrs hav• . the ￿yJrtt1rq there atsx)tt￿o wkh 8ection 13Q of the Chari]es kl: or the accrAJnts dk4 not the LYAWrting c the d￿￿ not Mth ts a[￿t4tr f&¥kner k￿) oTrJ c£fflttrrt of a¢￿Ur￿ set out ￿ the Charibes (Accounts and Re￿Irts) R•gukn 21)08 other Ihw any reqLm￿meTrl that the ￿c￿l￿ts gwe a tue aml fairf i8 not a matt as rort ofan IJe￿defrt exJnlnati￿. I h￿e no CCYKem5 and ha￿ LY)me a(TOSS m othw matters In c￿nectiC wth the examknat¢n towhth Sh￿k1 kne dr8MI in thi% iekXKt in order io enabk a urKlerstsrylry tsf Ihe accourts to reathed. S*n•d: 07 Il Nam•.' R￿a¥ant prof•sslonal qualifi¢kn"onls) or body IER Od2018

STITCHES IN TIME 19 Addr•￿. lo Cb/Jgc Soctioii El Disclosurè Onty comrkte if the examiner Tre￿ lo hvJhIv￿I maiwol mter8 d concern ¢e32. Ind￿r¥￿￿taXaM￿OoD of oknrty acts)unt" direc1￿n$ and guidCè ror exam¥￿1. Give here brf dgtsils of , any rt•m$Thatth• dlsclose. IER Oct 2018

STITCHES IN TIME 20 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDING MARCH 31, 2024 Unrestricted Restricted Total Funds Funds Funds 2024 Total Funds 2023 Notes Incoming Resources Generated funds". Voluntary income.. Grants Donations Bank interesl, gross Charilable activities-. Service Level Agreements Fees and sales Surplus on sale of assets 63,248 7.728 67,213 130,461 105.500 7.728 3,034 142.915 142.915 45,066 Total Incomlng Resources 213,891 67,213 281,103 153.601 Resources Expended Charitable activities Govemance 159.908 59 67.444 227.351 212.608 59 13 Total Resources Expended 159.966 67.444 227,410 212,621 Net IncomingllOutgoing} Resources for the year Reconciliation of Funds: Total Funds brought forward 53,925 (231) 53.694 (59,020) 29.166 231 29,397 88,417 Total funds carrled forward 83,091 83,091 29,397 The Ststement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared. All of Ihe above amounts relate to continuing actiVTiies. Th8 notes on pages 20 to 26 form part of these accounts.

STITCHES IN TIME 21 BALANCE SHEET AS AT MARCH 31, 2024 2024 2023 Notes FIXED ASSETS Tangible Assets 2,805 CURRENT ASSETS Debtors Cash at Bank Cash in hand 24,594 103.947 366 13,623 46,557 49 128.907 60,229 LIABILITIES Arnounts falling due wthin one year 48,623 30,833 TOTAL CURRENT ASSETS LESS LIABILITIES 83,091 29,397 NET ASSETS 83,091 29,397 Represenled by.. FUNDS Unrestricted Restricted 83.091 29,166 231 TOTAL FUNDS 83,091 29,397 Approved by the Management Committee l Board of Trustees on 29th November 2024, and signed on their behalf by: Tru ees The notes on pages 22 to 26 fomi part of these accounts

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NOTES TO THE ACCOUNTS, MARCH 31, 2024

1. STATUS

The organisation is an unincorporated registered charity and successor to the unincorporated association of the same name.

2. ACCOUNTING POLICIES

(a) The financial statements have been prepared under the historical cost convention, and in accordance with applicable United Kingdom accounting standards, the Statement of Recommended Practice ‘Accounting and Reporting by Charities’ issued in March 2005 (SORP 2005) and the Charities Act 2011.

(b) Tangible Fixed Assets: Capital expenditure on items £250 or over is depreciated at rates designed to write off the costs over the estimated useful lives of the assets, calculated on the straight line method, less any residual value.

(c) Incoming Resources

All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

• Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. Such income is deferred when the donor specifies that the grant or donation must only be used in future accounting periods.

• Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts.

• Investment income is included when receivable.

• Incoming resources from charitable trading activity are accounted for when earned.

• • Incoming resources from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.

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(d) Resources expended

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates:

• Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

• Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity.

(e) Fund accounting

Funds held by the charity are either:

• unrestricted general funds: these are funds which can be used in accordance with the charitable objects at the discretion of the trustees;

• restricted funds: these are funds which 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.

(f) Stock and work in progress

Stock and work in progress are valued at cost. Cost includes all direct expenditure and overheads based on the normal level of activity.

3. TAXATION

The charity is provisionally exempt from tax on income and gains to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity.

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4. GRANTS

	Total Grants	Total Grants
	2024	2023
	£	£
Restricted:
Equip	-	14,000
London Health and Equity Partnership	5,000	-
Henry Smith	54,337	80,500
Ashley Family	7,875	10,500
	––––––	––––––
Total Restricted	67,213	105,000
	––––––	––––––
Unrestricted:
Magic Little Grants	-	500
The Fore	20,000	-
The London Community Fund	18,448	-
Awards for All	9,900	-
Wakefield and Tetley	5,950	-
Canary Wharf Group	8,950	-
	––––––	––––––
Total Unrestricted	63,248	500
	––––––	––––––
	––––––	––––––
Total Grants	130,461	105,500
	––––––	––––––

5. CHARITABLE ACTIVITIES

		Unrestricted	Restricted	Total	Total
		Funds	Funds	Funds	Funds
				2024	2023
	Notes	£	£	£	£
Salaries & NI		87,295	24,888	112,183	106,634
		––––––	––––––	––––––	–––––-
Average number of
employees: FTEs 3.6 (2022/23: 0.6)		87,295	24,888	112,183	106,634
Fees		49,806	34,915	84,721	81,456
Projects		3,700	3,474	7,174	5,138
Depreciation	6	935	-	935	-
Rent		13,236	3,200	16,436	15,057
Telecommunications		-	731	731	553
Postage, stationery and photocopying		1,179	-	1,179	86
Insurance		662	-	662	754
Travel and subsistence		1,039	150	1,189	498
Equipment:
minor purchases		460	86	546	610
maintenance		347	624	347
Administrative support		-	-		-
Memberships		583	-	583	910
Publicity		665	-	665	288
Bank Charge		2	-	2	-
Receivable Write Off		-	-	-	-
		––––––	––––––	––––––	––––––
		159,908	67,444	227,351	212,608
		––––––	––––––	––––––	––––––

STITCHES IN TIME

25

6. FIXED ASSETS

	Computer	Production	Total
	equipment	equipment
	£	£	£
At cost:
at 1.4.23	-	-	-
additions	-	3,740	3,740
disposals	-	-	-
	–––––	–––––	–––––
at 31.3.24	-	3,740	3.740
Depreciation:
at 1.4.23	-	-	-
25% per annum	-	(953)	(953)
disposals	-	-	-
	–––––	–––––	–––––
at 31.3.24	-	(953)	(953)
	–––––	–––––	–––––
Net Book Value, 31.3.24	-	2,805	2,805
	–––––	–––––	–––––
Net Book Value, 31.3.23	-	-	-
	–––––	–––––	–––––

7. DEBTORS

	2024	2023
	£	£
Debtors, trade	23,958	12,987
Grants Receivable	0	0
Pre-payments	-	-
Deposit, rent	636	636
	––––––	––––––
	24,594	13,623
	––––––	––––––

STITCHES IN TIME

26

8. CURRENT LIABILITIES, AMOUNTS FALLING DUE WITHIN ONE YEAR

	2024	2023
	£	£
Creditors	-	-
Refundable deposits	165	495
Salary Control	16,583	-
Grants in Advance
Henry Smith	31,875	22,463
Ashley Family Foundation	-	7,875
	––––––	––––––
	48,623	30,833
	––––––	––––––

9. RESTRICTED FUNDS

	Balance at	Movement in	Movement in	Balance at
	April 1,	Resources		March 31,
	2023	Incoming	Outgoing	2024
	£	£	£	£
Ashley Family	150	7,875	(8,025)	-
Henry Smith	(5)	54,337	(54,332)	-
Equip	86	-	(86)	-
LHEP	-	5,000	(5,000)	-
	––––––	––––––	––––––	––––––
	231	-	-	-
	––––––	––––––	––––––	––––––

Project funds: All of the above provide revenue and/or capital funding for projects.

10. TRUSTEE REMUNERATION AND RELATED PARTY TRANSACTIONS

No trustees received any remuneration during the year (2023: £nil). There were no expenses reimbursed to, or paid on behalf of, members of the Management Committee.

No trustees or other persons related to the charity had any personal interest in any contract or transaction entered into by the charity during the year (2023: £nil).

STITCHES IN TIME 27 B$F *IAJty