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2021-07-31-accounts

Charity Registration No: 1182561 Company Registration No: CE016889 (England and Wales)

Big Local Works Bermondsey

Trustees’ Report and Financial Statements

for year ended 31[st] July 2021

Big Local Works

Trustees’ Report and Annual Accounts for the period 1[st] August 2020 to 31[st] July 2021

Section Page:
Legal & administrative details 1
Trustees Annual Report 2 - 18
Independent examiners report 19
Statement of Financial Activities 20
Balance sheet 21
Notes to the financial statements 22 - 26

Big Local Works

Legal and Administrative information

Trustees
Ann Duffy
Mary Murdoch
Hilda May Smith
Nina Bruce Tamakloe
Russell Dryden
Cllr Leanne Werner
Philip Poleon (appointed 23 March 2021)
Charity no: 1182561
Company Number: CE016889
Principal address: 4 Market Place
South Bermondsey
London SE16 3UQ
Registered Address: 4 Market Place
South Bermondsey
London
SE16 3UQ
Independent Examiner: Louise Alexander, ACMA
3 Upper High Street
Ipswich IP1 3NE
Bankers: HSBC Business Banking
Retail Unit 8
Canada Place
Canary Wharf
London E14 5AH

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Big Local Works

Trustees’ Annual Report for the year ending 31[st] July 2021

The trustees present their annual report and financial statements for the period ended 31st July 2021.

The accounts have prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity’s constitution, the Companies Act 2006 and the Statement of Recommended Practice, ‘Accounting and Reporting by Charities (FRS102)’.

Statement of Public Benefit:

Introduction

As a registered charity Big Local Works is committed to demonstrating the benefits its work provides for individuals, the Community and the wider public. This statement sets out the aims of the Charity and an overview of the services we provide, the beneficiaries the Charity serves and the impact and opportunities our services provides.

Our Aims:

Big Local Works is a Charity based in South Bermondsey and our main aims as set out in its Memorandum of Association are:

  1. The relief of poverty.

  2. The relief of unemployment;

  3. The advancement of education, training or retraining, particularly among unemployed people;

  4. The provision of technical assistance, business advice or consultancy in order to provide training and employment opportunities for unemployed people in cases of financial or other charitable need through help in:

i) Setting up their own business; or

ii) to existing social enterprises and business.

  1. The creation of training and employment opportunities by the provision of workspace, buildings, and/or land for use on favourable terms;

  2. The promotion of the conservation, protection and improvement of the physical and natural environment and the heritage of south Bermondsey and the advancement of public education in environmental matters and the heritage of Bermondsey and of better ways of conserving, protecting and improving the physical and natural environment.

In summary, Big Local Works purpose is to build local people’s economic resilience, reduce poverty and its effects, and help people build their independence and financial wellbeing.

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Our services - The change we make

We help people at all stages of their journey, providing benefits and welfare advice to ensure that people’s basic needs are met, supporting them to seek, secure and maintain sustainable work, and stimulating local entrepreneurship to create a lively economy where local people can live, work, and thrive.

Big Local Works provides economic support in our local community through three main services:

BLWs services support residents to live independent lives through enhancing their socioeconomic resilience and providing a support structure that is often lacking in their lives.

Our services are illustrated in the diagram below:

----- Start of picture text -----
Benefits and
welfare support
and information
Supporting
Training facility
Entrepreneurs
E hi
Support locals to
find local
employment
----- End of picture text -----

By doing this, we:

Who used and benefitted from our services?

Service 1 - Benefits and welfare information and support

Our aims for the period were:

This service continues to be highly valued and regarded in the local community. Clients are well supported and advised by Lea-Anne and she has a solid reputation locally as a ‘go to’ resource for residents with benefits and welfare support needs.

These are some testimonial quotes from clients illustrating the impact of the support work in the local area:

If it wasn't for Big Local Works I don't know where I would be. I would probably be dead. They kept me sane when I felt like giving up. (SJ)

Finally an organisation that understands what I'm going through. (KC)

I've gone through so much hardship recently but you have helped me see there's light at the end of the tunnel. (MA)

BLW has delivered an average of 40 client meetings per month for those facing extreme hardship. Clients often have more than one benefit issue at the point of contacting the service. We provide support with:

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BLW Welfare Benefits support in 2020 -2021 - a year in Numbers

This year we provided regular Benefits welfare support to 98 Southwark residents and together we have raised over £452,000 in previously unclaimed benefits for Southwark Residents

We have supported clients with the following Benefits claims

We have supported clients with the follo
PIP 38
Universal Credit 24
ESA 9
DLA 6
Housing/Council Tax Benefit 5
Pensions 3
Other Applications 6

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Benefits advice in the wider community:

For the past 12 month BLW has started to offer advice from several community hubs in the wider area. We have done this to try and reduce barriers to accessing information and support for benefits and welfare needs.

Below is a summary of our new delivery locations:

1) Thrive business hub – Surrey Quays Retail Park

In November 2020 we partnered with British Land to offer the BLW benefits support in Canada Water area one day a week at Thrive Business Hub

With this partnership we are aiming for:

Lea-Anne is back now delivering outreach welfare benefit support over at Thrive every Wednesday. Over the past 9 months, to July 21 we have helped 43 people living in the SE16 area.

2) Love North Southwark food pantry – Cherry Garden Hall, Jamaica Road

At Big Local Works we feel it isn't just about promoting the work and services we deliver through leaflets and social media advertisement. Therefore we decided that once a fortnight it would be really beneficial to be a visual presence at the local Pantry. This will enable us to reach out to those people who might not be aware of the services we deliver and continue to support people who find themselves relying on the Pantry due to financial hardship and wherever possible, trying to maximise individual and family awareness of what additional help they can be offered and entitled too.

3) London Unemployed Strategies

In July 2021, we welcomed back London Unemployed Strategies - LUS. We are now facilitating a steering group of up to 8 people who will feed back any up to date information around benefit changes to the main LUS group session's.

The main session's will now take place over at InSpire, The Crypt at St Peters/Liverpool Grove. This will allow for greater numbers to attend as the venue is of a much larger size. Lea- Anne will be attending the sessions to continue and contribute the work we do at Big Local Works.

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Case Studies for Benefits and Welfare support

Case Study 1: Ms L : Missing Element

Ms L has various mental and physical health conditions and has been in receipt of incomebased Employment and Support Allowance (ESA) and Personal Independence Payment (PIP) for 3 years. Upon reaching out to Big Local Works for Benefits Advice she was completely unaware of an additional premium she was eligible to claim as she was in receipt of PIP. This is called severe disability premium.

Disability premium payments can be added to a person’s income-related ESA. To be eligible to get severe disability premium you need to be in receipt of income-related ESA and you need to be in receipt of the following qualifying benefits:

As Ms L was awarded PIP daily living component she had been missing out on this additional premium and it wasn't automatically applied to her ESA. You usually cannot have anyone aged 18 or over living with you and Ms L was the sole occupier with no one living with her. We were able to sit with Ms L and telephone the Department for Work and Pensions (DWP) and make an inquiry as to why this additional premium had not been added to her income related ESA.

The DWP apologized for this mishap and applied the premium to her ESA and she is looking at approximately £9,000 in backdated money.

Case Study 2: Mr R: I've worked since I was 14 benefits are all new to me

Mr R is 55 and 2 heart attacks at the start of last year he found himself unemployed and whilst recovering from these attacks he also suffered a stomach haemorrhage. He was referred to us by Health Quay Solutions. His conditions became so overwhelming he developed post-traumatic stress disorder with a panic disorder and has been unable to go back to work.

He desperately wants to work but his health problems have meant he has been unable to return to work and he has been made medically redundant and his prospects of finding and securing work is unlikely.

We have been able to help and support Mr R recently, who was totally deflated and didn't know what he was entitled to claim as had never been in receipt of benefits before and the whole process had been daunting for him, impacting on his already frail mental health. Any savings he had was starting to vanish right before his eyes.

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We sat with Mr R and made a claim for Universal Credit, helping him to submit identification online and uploading a fitnote. Currently he is receipt of Standard UC and his rent is being paid. This has been a huge relief for Mr R who felt without our support he would be lost and continuing on downward spiral. Mr R is currently waiting for UC50 Work Capability Questionnaire and Personal Independence Payment form to be sent out to him and in the near future we will be able to maximize his income to a point which will help him live a more independent life without the fear of what being out of work entails.

COVID 19

As a community hub, drop-in centre and local charity we do always favour face to face delivery as the vast majority of our clients favour this method due to struggles with their understanding of - and access to IT and internet facilities. From July 2020, we started providing face to face benefits advice again with stringent safety measures in place to ensure minimum risk to both our advisor and our clients.

Service 2 - Employability training and Job search support

Our aims for the period were:

Here for Work

In July 2020, BLW secured £19,333 from Southwark Neighbourhood funding (with 4 wards committing funds to run the programmes at BLW) and in October 2020, we partnered with the Bridge at Waterloo and the Blue Bermondsey BID and are now running the ‘Here for Work’ programme at BLW.

Here for Work is our Employability & Resilience training. It focuses on giving individuals the skills they need to secure sustainable employment and build on their natural resilience. We will guide participants through key employability skills including:

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Upon completion participants will be assigned a mentor who will work with participants to develop a personal job search plan, based on skills and ambitions, and discuss any on-going support needs.

The participants can book a weekly 1-2-1 session with their mentor and discuss their individual needs and requirements around their job searches.

The support is centred on building a realistic ‘Road Map’ for the first 26 weeks of employment and looks at key issues such as: understanding and planning for additional factors such as:

The aim is to build an objective picture of what it involves to be in - and stay in employment. We can provide telephone and one to one support service giving advice on benefits, coping with day to day pressures like stress, travel to work, childcare and budgeting advice. Mentors will be provided to listen and advise.

Kickstart Employability Training for Sustainable Ventures

BLW was approached by Sustainable Ventures in 2020, a local partner organisation based in London Bridge, to see if we could deliver employability training to their new kickstart employees. The idea was to work with SV and the participating organisations to build the most suitable training course to reflect the participants needs and development over the programme. The aim was to keep focus on the purpose of the Government Kickstart scheme which is:

1) To help businesses access a pool of motivated young people with potential

2) Providing young people with new skills and help moving into sustained employment after they’ve completed their Kickstart job placement.

We developed a programme of delivery for SV kickstart participants which in 2020 included:

The delivery of this programme has been a huge success and SV have retained BLW to deliver training to a second round of Kickstart hires in 2022.

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BLW Employability training and job serach support in 2020 -2021 - a year in Numbers

In total the highlights of the past year of running our training programme are:

Case Studies for Employment training and job search support

Mrs S C:

Mrs S presented to us having been out of work for 18 months after the passing of her partner. She was struggling to find employment that could fit around her lone parent commitments and was discouraged by the lack of support offered via the job search coaches at the job centre. After attending each of our employability enhancing workshops Mrs S worked alongside us on a 1-2-1 Basis to improve her CV and explore our network of employers. She participated in a pilot scheme we ran alongside PPHG (Park Plaza Hotel Group) which aimed to get local people into local positions within the hospitality sector. Mrs S was successful at interview and obtained a receptionist role within the PPHG.

“Without the time I spent with Daniel and Luds working on my confidence and communication there is no way I would have gotten this role.” - Mrs S C

Mr C

Mr C engaged with us after seeing our posters around the Blue Market Square. A Brazilian national; Mr C was looking for a part time role so that he could focus on his true ambition of increasing his Make Up Artist Portfolio. He started this career in his home country and was having success but couldn’t transcribe it to over here. Through us C was able to obtain a part time role in a bar in Shoreditch that allows him to work evenings dedicating his daytime hours to networking with production studios in London.

“I am so grateful to big local works for helping me get into work. The support they provided is fantastic and everyone should know about it” – Mr C

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Miss C W

Miss C W presented at our cv writing workshop after being made redundant during the pandemic. She is a trained chef and was having difficulty finding a new role that would fit around her personal commitments. After completing our CV Writing & Job Search workshop she returned for the Interview Skills & Effective Communication workshop. Having completed the trio we supported her with dedicated 1-2-1 job searching. We found that her certification in food safety had expired and that was a contributing factor to her not being successful in her applications. We then made a referral to the SE16 Open Collective for funding to renew her certification and it was approved. Miss CW then took part on our pilot referral initiative with PPHG being offered a role in their kitchen. Sadly miss CW was unable to accept the role due to the working hours. Our search for a suitable role for her continues.

“I love the fact that I am not in this search alone, having a mentor to speak to and draw encouragement from on a weekly basis is a real help. Whenever I want to give up Daniel is there to remind me that it’s a process and it will take as long as it takes” – Miss CW

Ms S

Susan is a local resident who had aspirations of returning to work after a number of years acting as a carer for her late mother. Susan had been out of work for so long that the thought of interviewing for roles and embedding into a work environment very nerveracking. Her self confidence was at an all time low and she was feeling alone and pressured by the DWP to return to work. After engaging with us at BLW for two months Susan’s self reporting evaluation showed that she had seen a dramatic increase in her self confidence (Rising from a zero at her first interaction to a strong 8 at our last One2One session). We have helped Ms S create a bespoke road map that includes her aspirations of returning to work, we have researched, found and funded a further education course for her to attend that she feels will “Improve her confidence no end”. Our benefits advisor was also able to work alongside Ms S to obtain an assessment appointment with the DWP to certify he ability to work. When asked to describe the support she received from the team at BLW she stated:

“BLW have turned my entire year around, I went from not knowing what I was going to do and having no confidence to having a great CV, being ready for any interview and having a place on a confidence boosting F E course with an accredited training facility” – Ms S

The Community Training Hub

In line with our aim for this year there was an opportunity for capital works to our offices to create community buildings funded by the GGF. On the 10th Dec 2020 the GGF project group confirmed that a budget of £50,000 was committed to developing the BLW offices as a community and Market hub. We felt BLW was the ideal organisation in the ideal location to provide regular training opportunities and support the local residents with job search support and training.

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Works were carried out from February 2021 to September 2021

Overview of the works done

Ground floor renovations

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First floor – training space – What a view!!

– Design works Logo and shop front

On top of creating a market and community hub – we worked with Louise Naunton Morgan from Stinsensqueeze, graphic design studio, on developing a new logo for BLW and improving the shop front of the hub.

We feel the changes made have given the Charity a much stronger identity and visual upgrade. The new logo future proofs the development of the charity over the next few years and we can move forward with a logo and image that we can be proud of.

The designs that were approved were the following:

Old Logo

New Logo

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Service 3 - Enterprise and start-up training and support

Building on previous initiatives, from September to December 2020, BLW and the Blue BID jointly delivered the hugely successful Make it Blue Markets Start Up programme with a fantastic local response. We offered the opportunity for local aspiring entrepreneurs to receive funding and specific skills training to launch and test trade their business idea, establish their brand, and gain experience while trading on the market.

The initiative was launched in October 2020 as an opportunity for local entrepreneurs to gain funding and key business support to start a market Stall at the Blue Market, Bermondsey.

The key aims were:

Framework:

However, all participants expressed a very positive tone regarding the experience and are very keen to resume when it is possible to do so. Despite the difficulties of Covid-19 and lockdowns we were able to deliver the following outcomes (breakdown Page 2)

Traders Participating 20
TradingMarket Days 7
TrainingDays Given 3
Traders Trained 6
Volunteers Engaged 7
CommunityStalls 4

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Background

Markets play a vital role in London’s high streets as places of employment, commerce, consumption and leisure. They provide local variety and character, generating footfall and boosting profits for shop-based retail. They are particularly important as low threshold retail incubators. This can be seen in a new wave of producer/vendor and designer/maker retailers who are embracing markets alongside bricks and mortar and e-commerce. In health and income deprived areas markets provide local access to fresh produce, goods and services at affordable prices, lifting living standards.

Make It Blue Start Ups provides an opportunity for local entrepreneurs to launch their business idea, establish their brand, gain experience and specific skills training while trading in our Blue Markets.

Start-up support in 2022

We have learned there is a huge interest in trading at the Blue Market and the positive financial and community impact it can have. Having a successful market can substantially improve the local residents lives by providing much-needed services and goods to the area and by providing a social and economic hub for the area.

The market place has undergone major regeneration works during 2021, to improve the infrastructure and we are looking to restart the programme in 2022. We intend to use our learning from this programme of support and continue to develop the operation of Make it Blue markets on the newly regenerated market and build the Make it blue market into a flourishing and prosperous market for South Bermondsey and beyond.

Big Local Works Plans for the future

We feel we have achieved huge inroads into our goals and objectives for this period and over the past two years we have become a vital economic support and information resource for local residents, local council and business community in Southwark.

Continued funding and securing the medium to long term future of the charity is the main focus for 2022. This year we are entirely focused on creating a revenue generating operation to spread the risk of being 100% grant funded. The mix of revenue and grant funding should create a sustainable platform for BLW’s financial stability.

In April 2020 BLW presented a plan to the council for managing the market, which we hope will be approved in due course. The plan is summarized below.

The Blue Market Hub

In parallel to the capital works and improvements to the square there also needs to be a positive and focused management plan for the market at the Blue, as a thriving market is central to the successful development and future of the area. To achieve this, the market operations need sustained focus and attention which the BID and BLW have proposed to collaborate on.

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The Blue Market Hub is directly aligned with our common core focus of building economic resilience in the local community by empowering local residents to take up training, apprenticeships, employment and entrepreneurial opportunities in the local area and make full use of the positive opportunities incoming regeneration offers the local community.

We feel BLW is the ideal organisation in the ideal location for local residents, entrepreneurs, creators and interested stall holders, to find out information about the Blue Market, the opportunities the market offers, how to book a stall and develop the necessary skills to run a successful enterprise.

The hub model enables BLW to centralise the local management of the Blue Market and associated storage facilities / garages (TBC), and provide market traders with a point of contact, more information, more services, and more visibility.

Furthermore, traders can:

- The Partnership Offer A New, Positive Direction For The Blue

BLW and the BID are proposing a positive and pro-active management solution for rebuilding and facilitating a successful and sustainable market, with locally based focus and attention which BLW supported by the BID are uniquely placed to deliver. Both partner organisations have a proven track record, high local profile and the connections that place us in an unrivalled position to build on the regeneration.

This will need both a new crop of established, energetic traders as well as aspiring, local entrepreneurs to create a new generation to champion and grow a vibrant and sustainable market offering

Management of the market is directly aligned with the GLA’s vision and BLW’s common core focus of building economic resilience in the local community by empowering local residents to take up training, apprenticeships, employment and entrepreneurial opportunities in the local area to make full use of the positive opportunities incoming regeneration offers them.

BLW and the BID are going to make substantial investments into managing and operating the market and to move forward with the operations of the market we would need assurances that the licence period would be for a minimum of three years, with no fees incurred in year one. A period of paying no operators fees would also allow sufficient price flexibility in pitch fees for new traders who meet the criteria we wish to aspire to.

This would be to give us the strongest chance of building up trade, experience and footfall and make the Blue Market the thriving hub that the local area so desperately needs to compete and meet the challenges of the future. Existing traders would incur no changes to their licence conditions or extra charges to their fees

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Finances for 2021/22:

Big Local Works is in a strong position to push forward from this point with unrestricted reserves of £102,098 (2020: £68,346), and in contention for some key grants (Henry Smith, Trust for London) and other funding opportunities. We have successfully secured funding from various funds such as the National Lottery Communities fund, People Postcode Lottery and Team London Bridge Community fund.

We strongly believe our services are an eco-system of support, that clients can access and benefit from, as and when their needs and abilities require it. Our main aim is to produce sustainable change in people’s lives, not only offering support and training but also offering support around lifestyle, self-awareness, health and wellbeing, personal finance support that is needed in order to sustain a job or apprenticeship.

We continue to work to diversify our range of sources of income and have identified the following areas to be our focus in the next financial year:

Financial Review:

Income during the year 1[st] August 2020 – 31[st] July 21 was £150,459 (during the period 20/3/19-31/7/20: £186,451).

Reserves policy

The trustees aim to keep a balance in free reserves equal to at least six months' core expenditure (staff, office rent, insurance etc.), so as to enable the charity to continue to operate in the short term in the event of unexpected delays in the receipt of income or unexpected expenditure. During a 12-month period this would be £60,000 reserves, and with unrestricted reserves of £102,098, this has been achieved.

Risks Analysis

The trustees have reviewed during the year the major risks to which the charity is exposed. They have looked at existing risk and further control measures required and the process by which Trustees are kept up to date about these risks. These risks have been classified under the headings set out below, with some of the key actions taken to mitigate them.

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11 Governance risk.. to continue to ensure that the tru5tee5 have the ￿levant skills, commitrnent and capacity to govern Big Loe81 Works. 21 Operational risk= to continue to ensure that policie5 and procedures including those for Safeguarding of Vulnerable Adults and Heamh & Safety are in line with current best practice and implemented. 31 Financial risk= to continue to ensure good forward financial plannin& fundraising and cash flow awareness.. the maintaining of a suitable reserves policy aiming to build up a reserve of6 rnonths rvnning costs equivalent to £60.LIX) 41 Reputational risk: to continue to build on the charity's reputation for best practice and to develop good working relationships with local partner5. Trustees will ¢ontinue to monrtor the risks ahead for the tharhty. In discussion with several board members BLW has committed to organisin8 an away day before July 2022 during whith a comprehensive SWOT anal￿1$ will be tonducted in order to identify risks and threat5 to the charity in the year ahead. This will then form the basis of the risk register moving forward. Structure. govemance and manag*mtnt Big Local Works is a registered as a charity Ino. 3283311. The trustees who are currentty serving are: Mary Murdoch Ann Duffy Nina Bnjce Tamakloe Hilda May Smith Russell Dryden Cllr Leanne Werner Philip Poleon None of the trustees ha5 any beneficial interest in the tharity. The charity is run by a board of directors/trustees which meets everythree months. The day-to-day management of the organisation is delegated to the Dirertor, Lodewijk van den Belt, who lead5 the delivery of artivities and project5 W￿th a small team of other employees. freelance service providers. partner5 and volunteers. The tnJstees' report was approved by thè Board ol Trustees on......... LL Russell Dryden Chair of Board of Trusteès 18

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BIG LOCAL WORKS BERMONDSEY

I report to the charity trustees on my examination of the accounts of Big Local Works Bermondsey for the year ended 31 July 2021, which comprise the Statement of Financial Activities (incorporating an income and expenditure account), Balance Sheet and related notes.

This report is made solely to the Trustees as a body, in accordance with the Charities Act 2011. My examination has been undertaken so that I might state to the Trustees those matters 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 anyone other than the charity and the Trustees as a body, for my examination, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the charity trustees of the CIO, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

Having satisfied myself that the accounts of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the CIO’s accounts as carried out under section 145 of the Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent Examiner's Statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Louise Alexander, ACMA

3 Upper High Street Ipswich IP1 3NE

Date: 21st March 2022

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BIG LOCAL WORKS BERMONDSEY

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE PERIOD ENDED 31 JULY 2021

----- Start of picture text -----
Unrestricted Restricted Total Unrestricted Restricted Total
Note Funds Funds 2021 Funds Funds 2020
£ £ £ £ £ £
Income from:
Donations & legacies 3 39,798 110,661 150,459 133,641 52,810 186,451
Charitable activities 4 6,286 - 6,286 26,766 - 26,766
Other incoming sources - - - 270 - 270
Total Income 46,084 110,661 156,745 160,677 52,810 213,487
Expenditure on:
- -
Raising funds 1,420 1,420 4,200 4,200
Charitable activities 10,912 85,553 96,465 88,131 18,412 106,543
Total Expenditure 5 12,332 85,553 97,885 92,331 18,412 110,743
Net (Expenditure)/Income for the
year before transfers 33,752 25,108 58,860 68,346 34,398 102,744
Transfers between funds - - - - - -
Net (expenditure)/income for the year 33,752 25,108 58,860 68,346 34,398 102,744
Reconciliation of funds
- - -
Total funds brought forward 68,346 34,398 102,744
Total funds carried forward 102,098 59,506 161,604 68,346 34,398 102,744
----- End of picture text -----

The statement of financial activities includes all gains and losses recognised in the year and all income and expenditure derive from continuing activities.

The accompanying notes on pages 22 to 26 form an integral part of these financial statements.

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BIG LOCALWORKS BERMONDSEY BALANCE SHEET AS AT 31 JULY 2021 Note 2021 2021 2020 2020 Flxed ¥55•ts Tangible assets 23.110 750 CuryeThta88ets Debtors Cash at bank and in hand 5.559 190.324 260 110.615 1g5,883 110.675 Llabilities Creditors falling due ￿lI￿n on6 year 12 111.739 8,8811 N•t Current 888•ts 184.144 101.994 Long Term Liabilthes 146,2501 Not asspts 161.604 102.744 Tho funds of th• charfty.. Unre$tnci8d luid5 Reswi¢ted funds 102,098 59.506 68.246 34.398 14 Total chartty lund$ 161.604 102.744 Tha mambors 8cknowl8dgg their re5pon51bililio$ tor complying th8 requirement$ of th8 Charitigs A¢1 2011 vlth respBCt to accounting ocords and the preparatson of accounts. Th8 finanu81 statemènts were appro￿ end aulhorised forissue by the Board of TtU51ees on and signed on its ￿h81fty. IG 'Iv2L. Russèll Dryd8n The a¢comp8nWng notes on pages 22 ID 26 fomi an integral ofthos8 fn&Kial tst3temenis. 21

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JULY 2021

BIG LOCAL WORKS BERMONDSEY

1 Accounting Policies

a) Basis of preparation

The principal accounting policies adopted in the preparation of the financial statements are set out below:

b) Going concern

The trustees have assessed whether the use of going concern is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charitable incorporated organisation to continue as a going concern. The trustees have made this assessment for a period of at least one period from the date of the approval of these financial statements. In particular, the trustees have considered the charitable incorporated organisation’s forecasts and projections and have taken account of pressures on fee income. The occurrence of the coronavirus, which continues post period end, is a global threat. However, in the opinion of the Board of trustees it is not considered an event subsequent to the balance sheet date with a material effect on the financial statements for the period ended 31 July 2021. While the spread of the coronavirus will have a negative effect on activities, it is currently not possible to make a reliable estimate on the depth of impact on these activities. After making enquiries, the trustees have concluded that there is a reasonable expectation that the charitable incorporated organisation has adequate resources to continue in operational existence for the foreseeable future and for at least 12 months from the date of approval of these financial statements. The charitable incorporated organisation therefore continues to adopt the going concern basis in preparing its financial statements.

c) Incoming resources

d) Resources expended

All expenses are accounted for on an accruals basis. Wherever possible, costs are allocated directly to the appropriate activity; other overhead, support and governance costs common to all activities are apportioned between those activities based on their relative output.

Expenditure incurred in connection with the specific objects of the charity is included under the heading 'Charitable activities'.

The irrecoverable element of VAT is included with the item of expense to which it relates.

e) Tangible fixed assets and depreciation

All assets acquired for continuing use by the charity costing more than £500 are initially capitalised at cost and measured subsequently at cost less depreciation and any impairment losses. Depreciation of tangible fixed assets is calculated to write off their cost or valuation less any residual value over their estimated useful lives as follows:

Computer & Office Equipment - four years straight line Fixtures & Fittings - four years straight line

f) Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

g) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

h) Funds

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objects of the charity and have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes.

i) Taxation

The Charity is an exempt approved charity in accordance with the Income and Corporation Taxes Act 1988.

22

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 JULY 2021

BIG LOCAL WORKS BERMONDSEY

2 Critical accounting estimates and areas of judgement

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are cased on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.

3
Donations
Funds
2021
£
Big Local South Bermondsey Partnership
British Land
-
United St Saviours
-
Reach
-
L.B. Southwark
-
L.B. Southwark: Good Growth
-
National Lottery
-
Postcode Lottery
18,000
Team London Bridge
-
Grosvenor
1,500
Newcomen
800
Covid Job Retention Scheme
19,498
Donations in kind
-
39,798
Unrestricted		 Funds
2021
£
26,461
15,000
-
-
-
50,000
15,000
-
4,200
-
-
-
110,661
Restricted		 Total
2021
£
26,461
15,000
-
-
-
50,000
15,000
18,000
4,200
1,500
800
19,498
-
150,459		 Funds
2020
£
133,641
-
-
-
-
-
-
-
-
-
-
-
1,500
135,141
Unrestricted		 Funds
2020
£
8,300
-
3,000
8,450
19,333
-
-
-
-
-
-
13,727
-
52,810
Restricted		 Total
2020
£
141,941
-
3,000
8,450
19,333
-
-
-
-
-
-
13,727
1,500
187,951

4 Income from Charitable Activities

Training
Small Business Support
Room hire
Other charitable activities
5
Total resources expended
Raising funds
Charitable activities:
Project delivery
Staff salaries
Premises
General administration
Professional & legal		 Funds
2021
£
4,286
2,000
-
-
6,286
Governance
2021
£
-
-
-
-
50
2,540
2,590
Unrestricted		 Funds
2021
£
-
-
-
-
-
Charitable
Activities
2021
£
1,420
16,918
73,254
939
2,764
-
95,295
Restricted		 Total
2021
£
4,286
2,000
-
-
6,286
Total
2021
£
1,420
16,918
73,254
939
2,814
2,540
97,885		 Funds
2020
£
7,825
14,200
1,430
1,811
25,266
Charitable
Activities
2020
£
-
-
-
-
-
3,608
3,608
Unrestricted		 Funds
2020
£
-
-
-
-
-
Total
2020
£
4,200
8,429
84,904
3,861
5,741
-
107,135
Restricted		 Total
2020
£
7,825
14,200
1,430
1,811
25,266
Total
2020
£
4,200
8,429
84,904
3,861
5,741
3,608
110,743

23

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 JULY 2021

BIG LOCAL WORKS BERMONDSEY

6 Independent Examiner's remuneration

The Independent Examiner's remuneration amounts to a fee of £950 which comprises £500 for the Independent Examination, £350 for the preparation of the financial statements and £100 for additional accountancy support (2020: £1,050).

7
Staff Costs
Wages and salaries
Wages and salaries
Redundancy costs
Social security costs
Pension costs		 2021
£
70,554
-
605
2,095
73,254		 2020
£
77,803
1,044
3,133
2,924
84,904

The average number of staff employed during the period was 3 (2020: 3).

The Manager is the sole key management personnel. The total employee benefits of the Key Management Personnel were £38,284 (2020: £47,770 - but as the first accounting period, this was a longer than 12 months).

No employees received emoluments in excess of £60,000 (2020: nil).

8 Trustees

No benefits were paid to trustees, nor expenses reimbursed to trustees during the period (2020: nil).

9
Fixed Assets
Cost
At 1 August 2020
Additions
At 31 July 2021
Depreciation
At 1 August 2020
Charge for period
At 31 July 2021
Net book value
At 31 July 2021
at 31 July 2020
10 Financial instruments
Carrying amount of financial assets
Debt instruments measured at amortised cost
Carrying amount of financial liabilities
Measured at amortised cost
11 Debtors
Trade debtors
Prepayments and Accrued Income
Other Debtors		 Fixtures &
Fittings
£
1,000
30,947
31,947
250
7,987
8,237
23,710
750		 Computer
& Office
£
-
-
-
-
-
-
-
-
2021
£
5,559
10,545
2021
£
5,283
276
-
5,559		 Total
£
1,000
30,947
31,947
250
7,987
8,237
23,710
750
2020
£
260
6,659
2020
£
-
260
-
260

Trade debtors disclosed above are classified as loans and receivables and are therefore measured at amortised cost.

24

BIG LOCAL WORKS BERMONDSEY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 JULY 2021

12 Creditors: amounts falling due within one period

Creditors: amounts falling due within one period
Trade creditors
Other taxes and social security costs
Accruals
Grants for individuals - London Catalyst
Loans less than one year
Other creditors		 2021
£
4,800
1,194
850
800
3,750
345
11,739		 2020
£
870
2,222
1,050
800
-
3,939
8,881

13 Related Party Transactions

There have been no related party transactions in the period that require disclosure.

14 Restricted Funds for the year ending 31st July 2021

Brought
Forward
£
Big Local South Bermondsey Partnership: capital
7,515
Big Local South Bermondsey Partnership
-
British Land
-
Reach
7,550
L.B. Southwark
19,333
Greater London Authority: Good Growth
National Lottery Community Fund
Team London Bridge
34,398
Restricted Funds for the period ending 31st July 2020
Brought
Forward
£
Big Local South Bermondsey Partnership
-
United St Saviours
-
Reach
-
L.B. Southwark
-
HMRC - Coronavirus Job Retention Scheme
-
-		 Incoming
Resources
£
-
26,461
15,000
-
-
50,000
15,000
4,200
110,661
Incoming
Resources
£
8,300
3,000
8,450
19,333
13,727
52,810		 Resources
Expended
£
-
(22,691)
(8,750)
(5,550)
(19,333)
(10,029)
(15,000)
(4,200)
(85,553)
Resources
Expended
£
(785)
(3,000)
(900)
-
(13,727)
(18,412)		 Transfers
£
-
-
-
-
-
-
-
-
-
Transfers
£
-
-
-
-
-
-		 Carried
Forward
£
7,515
3,770
6,250
2,000
-
39,971
-
-
59,506
Carried
Forward
£
7,515
-
7,550
19,333
-
34,398

Restricted funds were made up of the following:

Big Local South Bermondsey Partnership gave £8,300 to refurbish the Bermondsey office in 2019/20, this was retained for further refurbishments or capital spend. BLSBP also funded the salary of a Community Engagement Worker.

British Land's grant enabled Benefits and Welfare support in Canada Water, Rotherhithe and Surrey Docks.

United St Saviours gave £3,000 to map local services in 19/20

Reach provided funding for consultancy support to help BLW to develop enterprise ideas & models and become investment ready.

London Borough of Southwark's North East Multi-Neighbourhood Award Fund is granting £19,333 from different wards for a project to help local employability skills training and 1-2-1 job search support needs.

During 20/21, the G.L.A. gave £50k from the Good Growth fund for refurbishing the Big Local Works centre.

The National Lottery's Community fund 3 year grant of £117k. In this first year, £30k covered the cost of core staff.

Team London Bridge gave a grant of £4,200 for Welfare Benefits advice and support prgramme in North Southwark.

25

BIG LOCAL WORKS BERMONDSEY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 JULY 2021

15 Analysis of Net Assets between Funds

At 31 July 2021
Current assets
Creditors due within one year
At 31 July 2020
Current assets
Creditors due within one year		 2021
Unrestricted
funds
£
136,377
(11,739)
124,638
2020
Unrestricted
funds
£
110,875
(8,881)
101,994		 2021
Restricted
funds
£
59,506
-
59,506
2020
Restricted
funds
£
-
-
-		 2021
Total
funds
£
195,883
(11,739)
184,144
2020
Total
funds
£
110,875
(8,881)
101,994

26