Draft Finanelal Stst•m•nts at 24 J•nu¥ry 2024 at 17=57=34 Charlty rogistration number 1180546 Company registration numb*r CE015526 (England and W•l•sl LEGACY WM ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 Draft Financial Statements at 24 January 2024 at 17=57..34 LEGACY WM LEGAL AND ADMINISTRATIVE INFORMATION Trustees Rooqi8 Malik Winston Weir Enam Rahman Shaid8 Bibi Alison Jones Shawkat Chowdhury Gurpreet Bhatia Jesse Gerald Carol Lyndon Gary Bowman Andrew Peter Donaldson Rachael Thomas 1180546 (Appointed 13 June 20231 (Appointed 21 March 20231 Charlty numbor Company numbgr CE015526 Registered office Soh(> House 5 Soho Avenue Handsworth Birmingham B185LB AGS Accountants and Business Advisors Lirnited Ind?pendent examiner Unit 1 Castle Court 2 C8Stlegate Way Dudley West Midlands DY14RH Draft Finanelal Statements at 24 January 2024 at 17:57:34 LEGACY WM CHAIRMAN'S AND TREASURER'S STATEMENT FOR THE YEAR ENDED 31 OCTOBER 2023 2023 has been a remarkable joumey for Legacy West Midlands, and l am thrilled as the new chair to share with you some of the incredible achIeve￿entS and exciting developments we have experienced. First and foremost, I would like to express my deepest 9ralilude to our dedicated staff, volunteers, and Iruslees. Their unwavering commitment and tireless efforts have been instrumentsl in driving our mission forward. Their passion and cofflrllilmenl have been the cornerslone of our success. and l am continually inspired by their hard work and selfless contribu110ns. l am dèlighted lo announce that in 2023. our charity was honouTed with the prestigious King's Award for Voluntary Services. This recognition is a testament to the exceptional impact our volunteers have had within the comfflunily. It is a true reflection of their dedication and the meaningful difference they have made in the lives of those we seNe. As we look ahead to 2024, we are filled with enthusiasm and ambition. We are embarking on new projects and Inilialives that will further our impact and reach within the community. Our goals are bold. and our vision is Clear. We are committed to expanding our efforts and making a profound difference in the lives of those we serve. In 2024, we are placing a strong emphasis on fofging stronger partnerships with like-minded organisations and community stakeholders. By collaborating with others who share our passion for positive change, we aim to amplify our impact and create lasting, sustainable improvements within our community. Our devotion to serving the comrnufiity remains at Ihe heart of everything we do. In the Coming year, we will continue lo priorilise our efforts lo address the mosl pressing needs of those we serve. Whelher Il is IhrDugh providing essential services, advocating for rneaningful change, or fostering a sense of belonging and support, our commitment lo the community is unwavering. Furthermore, we recognise the critical importance of a strong and diverse board of ttustees. In 2024, we are focused on slrenglhening our board to ensure that we have the expertise, vision, and leadership necessary lo guide our charity lo even greater heights. With that we welcome lo our ranks Andrew Donaldson and Rachel Thomas as new board members and say a sad goodbye lo Carol Lyndon, our longest serving member who has been with Legacy WM from the start. I can only speak highly of Carol and her single-mindedness, not only to the communities in North Wesl Birmingham, bul to Birmingham as a whole. As a board of trustees for such an incredible organisalion, are committed to fostering an environment of g0Veman￿ excellence and strategic direction. As we reflect on the past year and look forward lo the opportunities that lie ahead, l am filled with pride and optimism. Legacy Wesl Midlands, impact in Birmingham is profound, and l am ¢onfident that together. we will continue to make a meaningful difference in the lives of those we serve. l extend my deepest appreciation to each and every one of you lor your continued support, dedication, and belief in our mission. Together, we are shaping a brighter fuluie for our community. Jesse Gerald Chair, Board of Trustees Date.. Draft Financial Statements at 24 January 2024 at 17'.S7'.34 LEGACY WM CONTENTS Pag• Chairman's and Treasurevs Report Trustees reFK)rt Independent examinerfs rèw)rt Stat8m8nt of fin8n¢ial actwilies Balance shèèt Notes to the financial ststements 9-15 Treasur&Vs Réport The financial position of Legacy West Midlands is such that the organisalion rgmains a going com￿r￿. However, 2022123 has been a challenging year. We found Ihal donors were less likely to provide funds. This was a feature of the turbulent political and economic climate especially In late 2022. Britain saw a new Prime Minister, infialion rising and increasing interest rates. Thankfully, our key donors remained loyal lo our charity and cor)linued lo support us. Our accounts show that our income rose significantly in 2022123 to £564k compared to £480k In the previous year. The accounts show that we receivecl increased funds from Birmingham Community Healthcare NHS Trust IBCHTI and Lottery Funds. It was th8 first tim8 that our income exceeded £0.5m. We also invested more in project delivery and in our staff reflecting the cost-ol-living increase. We ended the year with diminished reserves of £81 k, having spent more than our income by £160k. Thefe were several earmarked accounts amounting lo £62,947 where the income was received in the new financial year. These accounts have now been paid. In summary, we faced strong financial headwinds in 2022123 and had lo ulilise some of our reserves to deliver a wider range of projects. We continue lo serve our communities and there is a lot which has been achieved. I personally would like to thank the whole team at Legacy for their dedication. professionalism and courage in these circumstances. We have invested in various community activities and we plan to conlinue to grow our charity through continued charitsble donations lo continue this very important work. Winston Weir Tr&asur•r Date.. &fr Draft Financial Statèmènts at 24 January 2024 at 17'.57..34 LEGACY WM TRUSTEES REPORT (INCLUDING DIRECTORS. REPORTI FOR THE YEAR ENDED 31 OCTOBER 2023 The trustees. present their report with the financial statements of the charity for the year ended 31 October 2023. Thè trustees have adopted thé provisions of AccoLJnting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing th8ir accounis in 8￿rdance with the Fin8nci81 Reporting Standard applicable in the UK and Republi¢ of Ireland IFRS 102118ffective 1 January 20151. The Trustees made the decision in 2018 to close Legacy WM la reglstered charrtyl and fomi a charitable incorporated organisation ICIOI under the samo name, being registered with the Charity Commission as a CIO on 5 November 2018. The financial statements have been prepared in accordance with the accounting policies strt out in note 1 to the financial slaternents, the Companies Act 2006 and 'Accounting and Reporting by Charities.. Statement of Recommended Practic8 applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ir81and IFRS 1021 18ff8ctive 1 January 20191. Objectives and aetlvltles 11 To advance the education for the publi¢ in.. the social, economi¢ 8nd cultural history and heritago of the Wèst Midlands Metropolitan region I'lhe Area'l and the ¢onlributioll made thereto by Asian. African. Caribbean and other immigrant communities.. works of 8rtislic merf( in all their forms lincluding and not limited to visual, literary and perfomiing arts) produced OT perfomed in Area and in particular by mernbers ol or relating to the said communities. 21 TO relieve the sickne55. promote good health, provide soaal housing andlor care to, and advarTrce the education and training of. people in need wth a prefgrence for those living in or having a link lo the local community. Slgnlfi¢ant activities Established in 2010. Legaw WM is a CIO situated at the heart of the West Midlands Metropolitan region, providing health and wellbeing, and arts and horitage programmes to develop social cohesion. We work within rnarginalised communities, aiming to instill a deep sense ol cultural pride and genuine connections between diverse groups, focusing on their needs, shared histories, and experiences. Beneficiaries from around age 5 to the elderfy are engaged and consulted through co-design, monitoring and evaluation. Our heritage work has eelebrated the relationship between local people with the industrial. architectural. and cultural fabric of the city. tracing migrant journeys and developing four heritage trails. Flagship comTnunity wellbeing provision Family Fit prtsvides wellbeing activities for the whole family has been renewed with support for a third year of delivery. Our work with young P80ple includes structured sports $8ssions and playschemes. Our arts programme will feature an arts trail along the canals connecting Bim)ingh8m city centre and Smethwiek. Currently, we carry out a rangè ol incisive and effecbve provisions to 8ddrè5s social need and Improva Otrtco￿eS including intervÈntions on va¢Gine uptske ¢è18braling the 2022 Commonwealth Games. Public benefit The ¢harrty is a public benefit èntity and the trustees confirm that they have referred to the Charity Commission's guidance on public benefit when reviewing the charities aims and objectives. Ach5ev•m•nts and perfomiance Charitable actlvltlas In the past year. despite the constraints of the pandemic and associated restrictic>ns we have delivered Zumba, Yoga, Football, Cycling and Badminton sessions. alongsid8 H8alth and Nutrition proj8Cts We continue to facilitate the efforts of volunteers and have welcomed several of our Community Champions onto the tearn as paid staff, building skills and resilien¢g in our communities. This year we have encouraged local residents to receive coronavirus vaccine, supported the annual Nowka Bais event, begun work on a pioneering arts trail, lead comtnunity consultation on Housing 21 social housing for elders, delivered a national cyclinq tour, performina arts showcase and outdoor photooraDhv exhibition markinq 50 vears ol sessions in green spaces. This busy programme of activitie5 keèps us engaged in the community, responding tD emergent social need and helping individuals throughout their livos. Draft Financial Statom•nts at 24 January 2024 at 17.'57:34 LEGACY WM TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 Financial review Flnanclal position The board ol trustees are satisfied with the performance of the charity during the period and the PDsilion al 31 Octobèr 2023 and consider that thè charity is in a strong position to continue its activities during the coming year, and that the charitls assets are adéquate to fulfil its obligations. Overall, Legacy WM has raised funds totalling £564.073 with the 9xpendilure for th8 period tolalling £723,899 leaving the organisation with 8 deficit of £159,826. This leaves £80,959 in our funds tr) be carried forward at 31 Octobgl 2023. Reserves pollcy We generally operate a balan¢8d budget within each financial year. In respect of reseNes at the end of each financial year the aim is to build up to three rnonlhs unrestricted re$8rv8s lor operation running costs Including 58laries and statutory r8dund8ncies. It is anticipated that th8 r8serves will be built up over thè next three years and it will follow the principles below-. 11 A breakdown of reserves at tha end of financial year, with an indication of the stabJs of these figures le.g. auditedl draft rn8nage￿ent, etc.) 21 Any actu81 or currendy planned transfers affecting reserves since that d8le.' and a description of the purpose and ¢urrent spending plans for each category of reserves where appropriate. cross referenced to published accounts 31 Committed Rese*ves- Funds that are allocated by an organisation from its retained resources for a specifted purpose 41 Free Reserves- Retained resources that are available lor general unspeafied future purpose Pl•ns for future perlods This yeai wè achieved our fundraising target and we anticipate continued growth next year, bolstering our sustainability. Through the Flourish healthcare nelwork. we have acted 8s an anchor organisation ready to 5UPPOrt grassroots provisions. The renovation ol the Anglesey Primary Sch