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2025-07-31-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 2025

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Big Local Works Bermondsey

Trustees’ Report and Annual Accounts for the period 1[st] August 2024 to 31[st] July 2025

Page:
Reference & Administrative details 1
Trustees Report 2
Independent examiners report 27
Statement of Financial Activities 28
Balance Sheet 29
Notes to the financial statements 30

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Big Local Works Bermondsey

Reference & administrative details

Trustees

Mary Murdoch Hilda May Smith Nina Bruce Tamakloe Philip Poleon Wendy Cookson Rebecca Sentence – appointed 18[th] Dec 2024 Bharath Pillai – appointed 19[th] March 2025 Jason Vincent – appointed 18[th] June 2025

Charity Manager:

Lodewijk van den Belt

Charity no:

1182561

Principal and registered address: 4 Market Place London SE16 3UQ

Independent Examiner: Louise Alexander ACMA 3 Upper High Street Ipswich IP1 3NE

Bankers:

HSBC Business Banking Retail Unit 8 Canada Place London E14 5AH

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Big Local Works Bermondsey

Trustees’ Report for the period 1[st] August 2024 to 31[st] July 2025

The trustees present their annual report and financial statements for the period ended 31st July 2025.

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:

  5. 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 Values:

Our services - The change we make

We help people at all stages of their economic 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 socio-economic resilience and providing a support structure that is often lacking in their lives.

Our services are illustrated in the diagram on the next page:

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By doing this, we:

Who used and benefitted from our services?

Service 1 - Benefits and welfare information and support

For 24-25 we have managed to keep our welfare benefits running 3 days a week despite not receiving any funding for the service. In our strategic review for 25/26 we understand that the welfare benefits advice service is the most vulnerable service we run as well as the most needed. Local authorities now fund Citizens Advice as the single provider, even though their reach and level of personal support are limited.

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Other funders now focus on advice aimed at specific communities - for example, migrants, faith groups or survivors of domestic abuse - delivered through specialist organisations.

BLW’s strength has always been its place-based model, open to everyone in the area, but there is little funding left for that approach. Many funders are now reluctant to back welfare advice on principle, arguing that it is the state’s role or that resources should go instead to employment or training.

In 24/25 the service has also been affected by staffing pressures. One adviser has reduced hours due to illness, and while a new staff member has joined, managing turnover and uncertainty is difficult when funding cannot be guaranteed. We intend to keep the service running for as long as possible, but it could be unsustainable in the longer term. If the organisation grows, there may be scope to cross-subsidise a basic offer from other funding streams, but for now it is a high-risk area of work.

Despite all the above BLW has continued to deliver some outstanding results in 24/25

Some testimonials from BLW clients:

Testimonial - Mary M – Accessing Benefits

"I didn’t know what I was entitled to and was worried about how I would manage. Big Local Works helped me apply for the right benefits and made sure I got the support I needed. It has made a huge difference—I can now pay my bills and feel more secure."

Victoria – Ongoing Support

"The team at Big Local Works guided me through a complicated benefits process and kept checking in to make sure everything was on track. Their support gave me peace of mind at a time I really needed it."

Steven – Reducing Stress & Anxiety

"Before I came to Big Local Works, I was constantly stressed about whether I’d be able to get help. Their advice and support took that worry away. I now feel calmer and more confident about managing my finances."

Ahmed – Understanding Rights

"I never realised I could access benefits, Big Local Works explained everything clearly, helped me fill out forms, and made sure I understood my rights. I feel much more empowered now."

Kemi – Life-Changing Support

"Thanks to Big Local Works, I got the financial support I desperately needed. It has changed my life—without them, I don’t know where I’d be. They really listen and care about people."

Over the past year BLW has delivered an average of 27-30 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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We understand the difficulties people face when trying to access welfare and benefits, especially those living in poverty, and the additional hardship that complex systems put on people who need the most support.

This is why we provide a range of services to help people access the support they need, from 1-2-1 clinics, advice and information, individual case work and advocacy. Our welfare and benefits advice service offers support for the now – so that people can then start to think about a brighter future.

Big Local Works makes a point of starting with clients ‘wherever they are.’ Our initial goal is always to make sure that we meet immediate, urgent needs, because before clients can think about the future, they need to deal with the now: including food, shelter and basic living standards. We also have to recognise that for some, progress into work is neither practical nor desirable in the short term at least.

Our 1-2-1 clinics are now online every Tuesday - Thursday from 10 am to 4 pm. Tuesdays and Wednesdays are phone appointments only, Thursday is the only day clients can come to the office for face to face meetings.

Importantly, we provide individual casework and advocacy, especially around claims, appeals, and tribunals. None of the major advice agencies are able to offer this service.

A year in numbers:

In 2024/25 we have supported clients with the following Benefits claims

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PIP 79
Universal Credit 28
ESA 17
DLA 33
Housing/Council Tax Benefit 19
Blue Badges 14
Pensions 11
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Service 2 - Employability training and Job search support

Started September 24 – Partnership with Greystar – Supporting local residents into Pearl Yard jobs.

The partnership between Big Local Works (BLW), Storey Consulting and Greystar was established to ensure that the regeneration of the Biscuit Factory – Pearls Yard - brings tangible, long-term employment opportunities and benefits to the local community.

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Our joint mission has been to help local residents gain the skills, confidence, and support needed to access employment — especially the new jobs created through this local development and the supply chain / contractors on the scheme.

Now in its first full year, the partnership has seen some excellent and impactful outcomes (which we will discuss in more detail below) as well as some fundamental challenges with delivering social value on scale here in Southwark.

Partnership Overview

In total BLW set out to deliver:

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Opportunity Bermondsey support diagram Continuous outreach in Southwark with eg.. the DWP, local networks (formal and informall partners and community groups, F3mily Hubs. Schools and Nurseries. Southwark care leavers team, Southwark Works and Thames Reach ,%KKKk'Xn, t Community Outreach Clients meet with team and agree to register and develop a Personal Development plan outlining their ambitions, gap5, training needs and aspiration5 on their journey toward5 employment Exploratory Conversations and Registration IPDPI Stage 1-2 - Clients will be able to access.. 111-2-1 employability assessment including CV development, review of employment options, desired sectors etc, and interview prep Stage 1-2: Support starts: 21 Expert Welfare Benefit5 5UPPOrt with Universal Credit. PIP, ESA and DLA as well as council tax and housing benefits. Stage 3.. Training 31 Lrfe skills support including Confidence and resilience. effective communications and Money Management Stage 3- ReEularTraining modules include our (oreemployabilr(ySessions stage 4-5: Ernployment l. Skills for success in the workplace 2. CV and Interview skills tage 4-5- Clients receive job search and individual job matching support Opportunity Bermondseyl with U5tainable employment pathways, leading o increased economic stability and Improved quality of life Job Matchingsupport SIBnpostlng Continue wtth Exlt-lob, tralnln81 voluntserln End review will determine nextsteps, as shown n the left. I refer on to partners BLWsupport, in work support BLW to develop robust referral partnership and local job information.

The support started in earnest in October 2024 and the outcomes for the past year of work are:

 Supported a further 12 participants into work experience or apprenticeship placements.

 Assisted clients who have been diagnosed as neurodiverse, may have mental health issues, learning disabilities or challenges, and are often returning to the workforce, to re-build their confidence, recognise their skills and search for sustainable employment

Below are some fantastic case studies

Case Study 1:

Mesay Befikadu – From Unemployed to Working on the Biscuit Factory Site

Mesay, a South Bermondsey resident, had been unemployed for nearly a year following a redundancy during the pandemic. He was struggling to find steady work and felt increasingly isolated, as well as in danger of becoming homeless. Through a local outreach event at the Blue Market, Mesay met the BLW team and joined the Skills Bridge training course. Over two days, he developed his confidence, learned how to present his skills effectively, and gained a better understanding of the local job market.

Following the training, BLW connected him with a contractor working on the Pearl Yard redevelopment. Mesay secured a role as a general labourer and has now been in work for over six months.

“I live just around the corner from the Biscuit Factory, but I never thought I’d end up working there. Big Local Works helped me believe that these jobs were for people like meand that there ARE local jobs for local people — Mesay Befikadu, BLW participant

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Case Study 2

Case Study: James Edwards

James Edwards from SE16 approached Big Local Works (BLW) for employment support through the Greystar partnership after gaining his CSCS card. Initially focused only on electrical apprenticeships, James had submitted several applications without success and wanted guidance on how to move forward.

BLW supported James by helping him explore a wider range of onsite construction roles, providing practical jobsearch resources, and improving his CV to make it more professional and employer-ready. This support helped James secure a role as a Highways Maintenance Operative Apprentice with FM Conway, with training delivered by the Southwark Construction Skills Centre.

Reflecting on his experience, James said:

“BLW helped me understand the different roles available onsite and supported me with my CV and employment guidance. It really helped me feel more confident and prepared when applying for jobs.”

James’s long-term goal is to become fully qualified in his trade and progress into a supervisory or managerial role in the future.

Case Study 3

Raheem Monsuru

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Raheem Monsuru, a resident of SE1, was referred to Big Local Works (BLW) through Peckham Job Centre after struggling to secure work in construction despite having gained his CSCS card. With limited success applying independently, Raheem was keen to find the right opportunity to enter the industry.

BLW provided Raheem with tailored employment support and encouraged him to apply for a Formwork Apprenticeship with Oliver Connell & Son Ltd (OC/Sisk). With guidance and reassurance from BLW, Raheem successfully secured a position on the Pearl Yard Project, starting in September 2025. He is now working on site as a Striker, gaining hands-on experience and developing his skills within the trade.

Reflecting on the support he received, Raheem said:

“BLW have been a big help to me and encouraged me to apply for the formwork apprenticeship. I’m really happy that I did and I’m very grateful to Big Local Works for their support.”

Raheem advises others looking to enter the construction sector to stay persistent, take guidance when it’s offered, and be open to different roles on site as a way to gain experience and progress.

Key Learnings from year 1

In order to improve our impact we have shared and discussed with Greystar the below learnings:

  1. Community readiness is strong — the bottleneck is access.

BLW successfully demonstrated that local residents are willing, able, and eager to take up local job opportunities. However, the employment pipeline must be genuinely open for this readiness to translate into measurable outcomes.

  1. Supply chain collaboration is critical. Future partnerships should include clear expectations and mechanisms to ensure that contractors and sub-contractors share vacancy information and consider locally trained candidates. This may require a formalised Local Employment Charter or data sharing agreement.

  2. Integrated communication systems are needed. Job portals like Opportunity Bermondsey must be linked to live contractor recruitment systems. BLW could act as the “employment intermediary,” maintaining an active relationship between contractors and candidates.

  3. Transparency and accountability must be built into the partnership structure. Monitoring of local employment targets should be jointly owned, with regular reporting from contractors to both Greystar and community partners.

Greystar are looking to extend the support programme for another 12 months and build on a successful pilot year.

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Service 3 - Enterprise and start-up training and support

Young Traders Markets 2024/25 – Blue Market, Bermondsey

The Young Traders Markets (YTM) provide a dynamic platform for aspiring entrepreneurs aged 16–30 to showcase their talents, test business ideas, and gain hands-on experience in a vibrant market environment. Now in its third year, the project continues to support young people in developing confidence, entrepreneurial skills, and connections within the local business community.

For the 24/25 edition, market events were held on the first Saturday of each month from October to Dec 24 and the again from March – July 2025, with each event offering up to six free stalls.

Selected traders received a pitch, table, and gazebo at no cost, removing common barriers to entry and allowing participants to focus on growing their business, engaging with customers, and refining their offerings. Over the past two years, more than 40 young entrepreneurs have taken part in the initiative.

Traders are assessed on the day by a panel of local stakeholders based on products, customer service skills, professionalism, and interaction with other market traders. Each market has one winner who progressed to the regional final in Hackney in July 2025

The markets provided an opportunity for the public to discover unique local items, support emerging entrepreneurs, and enjoy the lively atmosphere of Bermondsey’s Blue Market.

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IARKÉT SUPPORTING ENTREPRENEURSHIP The Make It Blue project in 2024 and 2025 had two key initiatives: the Young Traders Market (YTM) and the Start-up Trader Prograrnme. Both programmes almed to support emerging entrepreneurs by providing real trading experience, confidence building, and practical business guidance in a professional market environment. Big Local Works played a pivotal role in delivering the programme. Their support ensured that the necessary resources and infrastructure were available for these initiatives to thrive. Big Local Works helped create a sustainable platform for budding entrepreneurs to develop their skills and launch successful business ventures NURTURING INNOVATION IN BERMONDSEY In addition to the Young Traders Market and the initial Start-up project to support local new traders, the programme extended to support women entrepreneurs by our collaboration with Femake Enterpreneurship Friday market. Young Traders Market Outline: Supporting young entrepreneurs aged 16-30 Providing hands-on support and mentoring Creating pathways into the NMTF Young Trader of the Year competition Start Up Opportunities Offering structured start-up opportunities Providing hands-on support and mentoring Open to local residents in the Bermondsey area Femake Entrepreneurship Friday Market Female only stall traders Providing support with social media promotions Creating a safe space for women entrepreneurs to explore other market opportunities

Yrm TRADERS FEEDBACK "Pedro was warm, friendly, and provided ample information about the market evenl. The absence of a trading fee and the friendliness of the traders made it a very enjoyable experience overall." Michael Sheppard l MJ The Art Traveller 'The team were exceptionally welcoming and supportive. I was able to connect with like-minded individuals who were eager to share their experiences" . Jijr, Aderonke Banjok l By Me Skin "We had an incredibly positive experience. We received a wealth of valuable feedback and had the opportunity to test what was effective and what wasn't. Additionally, we felt tremendous encouragement from the market manager and fellow traders, creating a truly wonderful community. Adam, BLND Coffee" 'The market manager demonstrated remarkable patience, and l acquired many vital skills necessary for my trading journey. Additionally. the other traders were incredibly welcoming and friendly.. Lerong He, Lerong. H Participaling in at The Blue Market enhanced my trading skills through invaluable support and challenging questions. This introspection on my strategy led to a significant shift in my approach to presenl my stall, ultimately contributing to my victory as the overall winner of the NMTF London and South East Finals in 2025." Romeo Bremmer, Romeo Ltd Traders also provided constructive feedback highlighting opportunities to improve promotion and footfall to increase brand visibility and engagement, which will inform future programme development. 14

START UP PROGRAMME The Start-up Programme also provided support to new independent traders from the local community and beyond who were launching their businesses for the first time. Notable participants included See Ya Laler (baked potatoes), Essential Greens (natural juices), and Two Halves Deli (sandwiches), among a total of ten new traders who operated in the market. CASE STUDY: THE WANDERING HAWKER Local Bermondsey Bistrith Dewan was a former employed chef who dream was to become a self-employed market trader developing his own Asian food concept. Thanks to the Start-up programme, Big Local Works offered support to help testing and developing his business ideas in a real market environment. The support included.. Low-cost trading fees Provision of a gazebo and table On*to-one feedback and guidance sessions Practical advice on stall setup, product presentation, and customer engagement By taking part, it helped Bistrith to gain hands-on experience, refine his menu concepts, and build confidence in running his business. Bislrith, trading as War)dering Hawker, began at The Blue Market offering specialty foods that quickly resonated with locals. The experience helped him refine his busines4 leading to participation in the Bermondsey Carnival 2025. 15

FEMAKE PARTNERSHIP Through a partnership with Femake Enterprises, the Start-up Programme provided new market opportunities for women entrepreneurs, offering a supportive platform to launch and grow their businesses. This collaboration has been instrumental in giving Femake traders access to a professional market environment with gazebos, electricity, and essential facilities, helping them to build conf idence and develop their ventures. Focused on inclusiviiy and empowerment, the programme has spurred economic growth and community among participants. Women entrepreneurs connect, share experiences, and support each other, fostering resilience and innovation. This environment sparks creativity and encourages entrepreneurial spirit, leading to a vibrant marketplace. "The Start-up Programme, hosted at Blue Market, has become a vital stepping slone for many entrepreneurs. It offers a professional market environment complete with gazebos, eleclricity, and essential provisions, allowing Iraders to build confidence and expand their ventures. The guidance and training provided under Pedro's leadership have received widespread acclaim fortheir positive impact. Al Femake Enterprises, our commitment to nurturing talent and fostering growth is strengthened by ihis partnership. We are eager to conli nue exploring future opportunities to support and empower emerging traders.. Sharmin Haque Creative Director and Founder of Femake Entrepreneurship Ltd ?eryake• LAUNCH DATE I SAT 24 MAY 2025 THEN EVERY FRIDAY a 16

Numbers & Impact

Conclusion

The NMTF Young Traders Markets and start-up programmes here at the Blue Market, provided young entrepreneurs with the chance to experience a professional market environment, receive honest and constructive feedback, and network with peers , opening opportunities for future markets and collaborations.

For The Blue Market , these events introduced new traders and unique products that might not otherwise be seen or sold, while showcasing the market’s facilities to potential guest or regular traders. The 2026 , starting in March 2026 edition will continue to expand these opportunities, supporting even more young entrepreneurs in developing their skills, confidence, and business presence.

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Service 4:

Community Organising – funded by Esmee Fairburn

BLW - Community, Communication, Identity, And Culture

Community Engagement and Capacity Building

Funding enabled a significant expansion of Big Local Works’ community outreach and engagement. The appointment of a Community Organiser strengthened our ability to connect with residents, grassroots groups and local organisations, resulting in over 100 meetings, open forums and community events.

This work increased awareness of local regeneration, identified barriers faced by marginalised groups, and supported the development of community-led initiatives. Our learning-led approach ensured activities were continually adapted to improve reach, inclusivity and impact.

Key outcomes included:

Bermondsey Latino

Bermondsey Latino was established to strengthen community connections and support local enterprise through culturally-led market events.

Impact highlights:

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BID.

Learning:

Bermondsey & Beyond Literary Festival

In March 2025, BLW co-organised the first Bermondsey literary festival, delivered without dedicated funding through strong local partnerships.

Impact highlights:

Learning:

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Tales from the Blue (Youth Theatre Project)

BLW supported a youth-led theatre project delivered by Bubble Theatre, focused on young people’s experiences of Bermondsey.

Impact highlights:

Learning:

NSET Community Day

A successful community-wide event addressing residents’ need for information about local services and organisations, while promoting a positive narrative of Bermondsey.

Impact highlights:

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Learning:

Communications and Community Voice

Improving how we communicate with residents has been a key organisational priority, with a focus on ensuring messaging is inclusive, accessible and reflective of the area’s diversity. During this period, BLW strengthened both communication channels and community-led approaches to gathering and sharing local insight.

Progress and Impact

We continued to develop a mixed communications approach combining:

Alongside this, we began strengthening our social media presence to better showcase community activity, promote events, and share local stories. This work is expected to be significantly enhanced through forthcoming communications consultancy support.

In parallel, we tested and refined community-led methods to gather insight and amplify local voices. The “Three Neighbourhoods Initiative”, using informal conversations at The Blue Market, successfully captured resident perspectives on local change and activity. Due to its effectiveness as both a feedback and engagement tool, this approach is being adapted for wider use across BLW events.

Challenges

Response and Learning

To address these challenges, BLW has:

Through these steps, BLW is working towards a more connected and better-informed community, where residents are aware of opportunities and feel their voices are recognised and valued.

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Future plans for BLW - Community, Communication, Identity, And Culture

When looking at 25/26 and beyond we have spent time conducting a strategic review of the organisation and options available open to us. The highlights of this are captured below and form the basis of our future planning over the short to medium term.

----- Start of picture text -----
Area of work Current position Near-term direction Longer-term aim / opportunity
(next 1-2 years)
Welfare Benefits Advice Small, high-quality Continue delivery while Integrate advice and advocacy
service with good local funds allow. Explore within wider community
reputation but limited partnerships with Bede programmes. Maintain a basic local
funding and staffing House, Time & Talents, offer through shared delivery or
pressures. Currently and other local cross-subsidy from other income.
funded in part by British organisations to share
Land (ending). delivery and capacity.
Employability (Adults) Funded through Review and refresh Develop a more sustainable local
Greystar; focus on model to link more employability and enterprise
matching residents to directly to local pipeline tied to regeneration,
job opportunities. businesses via the BID business growth, and inclusive
Dependent on and market. Strengthen economic development.
developer partnership. links with local training
providers.
Employability (Youth) Funded by Lambeth Explore options to Re-establish youth employment
Council; strong extend offer to South and enterprise activity as a local
outcomes but serving Bermondsey young offer, linked to the Young Traders
young people outside people. Seek alternative Market and wider regeneration
the area. funders aligned with work.
local youth need.
Enterprise support Ongoing work with Consolidate as a key Create an ongoing enterprise and
market traders and local organisational pillar. incubation programme supporting
entrepreneurs, funded Develop new enterprise both young people and adults, tied
in part by Esmée opportunities through to local economic regeneration.
Fairbairn. Young Traders arches and kitchen
Market performing spaces.
strongly.
Community development and Delivered through Embed learning into Build a sustainable framework for
organising Esmée-funded BLW’s core model. Use community leadership and
Community Organiser community connections participation, reducing reliance on
post; expanded reach to inform future individual staff or volunteers.
and understanding of thematic and spatial
local needs. development.
----- End of picture text -----

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Market and public space
activity		 Market and public space
activity		 BLW managing market
for Council; likely to
transfer back to Council
soon.		 Step back from direct
management while
retaining role in
community
programming and
events.		 Maintain the market as a central
community hub for events, traders,
and social connection.
Spaces and assets Use of existing market
space; exploratory work
on kitchen and other
sites.		 Assess feasibility of
acquiring the
community kitchen;
explore railway arches
and partnership with
United Saint Saviour’s.		 Develop a small portfolio of
community-owned or managed
spaces providing stability, visibility,
and income.
Thematic focus - Food Unites Emerging concept
aligning with
Bermondsey’s heritage
and current identity.		 Test as a unifying theme
across place-making,
enterprise,
employability and
community activity.		 Embed food as a central narrative
and organising principle - linking
heritage, identity and economic
opportunity.
Partnership with the BID Informal collaboration;
shared goals around the
Blue and local business
environment.		 Explore feasibility of
formal partnership
develop shared delivery
areas.		 Establish a community-focused BID
model blending economic and
social outcomes; create a stronger,
more stable base for joint delivery.

Finances for 2024-25

After the independent financial examination for Aug 24– July 25 the Independent Examiner, Louise Alexander, wrote to the trustees with a series of recommendations to improve our financial reporting and processes in the following year.

These recommendations were taken into account and we have this year sought more consistent and in depth bookkeeping support from Community Southwark, which has hugely improved our ability to report and produce the financial information, trustees require to review. This should mean that submitting our financial information for examination will be more efficient and effective moving forward.

Looking at the finances for 24-25 we are in a strong position to push forward from this point with unrestricted reserves of £129,683 (2024: £126,699) and in with a strong fundraising strategy to reflect our ambitions for the next 3 years.

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 period 1[st] August 2024 – 31[st] July 2025 was: £183,566 (2024: £183,928). There was a surplus of unrestricted funds at 31/7/25 of £2,984 (2024: £21,038), increasing unrestricted funds from £126,699 to £129,683.

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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 £90,000 reserves, and with unrestricted reserves of £129,683 this has been achieved. However, the trustees consider that the additional reserves are desirable in an uncertain funding environment. The trustees consider that the charity is a going concern.

Trustees will continue to monitor the risks ahead for the charity guided by the in-depth SWOT analysis conducted in order to identify risks and threats to the charity in the year ahead. This will then form the basis of the risk register moving forward.

Risk Analysis

The Trustees and BLW management undertook a full SWOT analysis to identify and assess the principal risks facing the organisation. Existing controls and additional mitigation measures were reviewed, alongside the mechanisms through which Trustees are kept informed. The key risks are outlined below.

1) Governance Risk

Risk:

Weak governance structures, insufficient trustee oversight, or lack of clarity around roles and responsibilities could reduce strategic effectiveness and compliance.

Mitigation:

2) Operational Risk

Risk:

The challenging external funding environment presents a risk to BLW’s ability to maintain services, staffing capacity and programme delivery. Reduced funding could lead to service cuts or an increased strain on staff resources.

Mitigation:

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3) Financial Risk

Risk:

Insufficient income, cash flow pressures, or inadequate reserves could impact BLW’s financial sustainability and ability to respond to unforeseen challenges.

Mitigation:

4) Reputational Risk

Risk:

Damage to BLW’s reputation could arise from ineffective communication, unmet expectations, or perceived lack of inclusivity or transparency, potentially affecting community trust and funding relationships.

Mitigation:

Structure, governance and management

Big Local Works is a registered as a charity (no. 328331).

The trustees who are currently serving are:

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None of the trustees has any beneficial interest in the charity.

The charity is run by a board of directors/trustees which meets every three months.

The day-to-day management of the organisation is delegated to the Director, Lodewijk van den Belt, who leads the delivery of activities and projects with a small team of other employees, freelance service providers, partners and volunteers.

The trustees' report was approved by the Board of Trustees on ……………………. 18th March 2026

………………………………………………………………………..

Wendy Cookson

Trustee, Big Local Works

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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 2025, 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: 23rd March 2026

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BIG LOCAL WORKS BERMONDSEY

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE PERIOD ENDED 31 JULY 2025

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Unrestricted Restricted Total Unrestricted Restricted Total
Note Funds Funds 2025 Funds Funds 2024
£ £ £ £ £ £
Income from:
Donations & legacies 3 26,459 94,504 120,963 9,994 72,850 82,844
Charitable activities 4 62,593 - 62,593 27,384 73,700 101,084
Total Income 89,052 94,504 183,556 37,378 146,550 183,928
Expenditure on:
Charitable activities 5 86,068 99,084 185,152 14,837 180,798 195,635
Total Expenditure 86,068 99,084 185,152 14,837 180,798 195,635
Net (Expenditure)/Income for the
year before transfers 2,984 (4,580) (1,596) 22,541 (34,248) (11,707)
Transfers between funds - - - (1,503) 1,503 -
Net (expenditure)/income for the year 2,984 (4,580) (1,596) 21,038 (32,745) (11,707)
Reconciliation of funds
Total funds brought forward 126,699 8,928 135,627 105,661 41,673 147,334
Total funds carried forward 129,683 4,348 134,031 126,699 8,928 135,627
----- 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 30 to 34 form an integral part of these financial statements.

28

BIG LOCAL WORKS BERMONDSEY

BALANCE SHEET AS AT 31 JULY 2025

Note
Fixed assets
Tangible assets
9
Current assets
Debtors
10
Cash at bank and in hand
Liabilities
Creditors falling due within one year
11
Net current assets
Long Term Liabilities
Net assets
The funds of the charity:
Unrestricted funds
Restricted funds
12
Total charity funds		 2025
£
4,580
157,199
161,779
(20,373)		 2025
£
157
141,406
(7,532)
134,031
129,683
4,348
134,031		 2024
£
5,182
164,223
169,405
(18,294)		 2024
£
2,142
151,111
(17,626)
135,627
126,699
8,928
135,627

The members acknowledge their responsibilities for complying with the requirements of the Charities Act 2011 with respect to accounting records and the preparation of accounts.

The financial statements were approved and authorised for issue by the Board of Trustees on _____ 18th March 2026 and signed on its behalf by:

Wendy Cookson

The accompanying notes on pages 30 to 34 form an integral part of these financial statements.

29

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JULY 2025

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 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

Voluntary income and donations are accounted for on an accruals basis. All income in the Statement of Financial Activities is shown gross of the associated costs and is accounted for where there is entitlement to the income, it is probable that the benefits associated with it will flow to the charity and it can be reliably measured. Income from charitable activities is recognised as it is earned. Where amounts are billed in advance of the activity being carried out, the income is deferred.

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.

30

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 JULY 2025

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
2025
£
Esmee Fairbairn
-
L.B. Southwark: Recycling
-
British Land
-
L.B. Southwark: Empowering Communities
L.B. Southwark: Ethiopian Dancing
L.B. Southwark: Thriving High Streets
L.B. Southwark: Thriving High Streets
National Lottery Community Fund
-
Garfield Weston
25,834
London Catalyst
-
Other donations
625
26,459
Unrestricted		 Funds
2025
£
59,000
11,275
-
3,525
904
-
19,000
-
-
800
-
94,504
Restricted		 Total
2025
£
59,000
11,275
-
3,525
904
-
19,000
-
25,834
800
625
120,963		 Funds
2024
£
-
-
-
-
-
-
-
-
9,166
-
828
9,994
Unrestricted		 Funds
2024
£
-
-
15,000
-
4,350
25,000
6,000
22,500
-
-
-
72,850
Restricted		 Total
2024
£
-
-
15,000
-
4,350
25,000
6,000
22,500
9,166
-
828
82,844

4 Income from Charitable Activities

Training
Market
Room hire & rental
Lambeth Unheard Voices SLA
Other charitable activities		 Funds
2025
£
35,500
17,877
7,100
-
2,116
62,593
Unrestricted		 Funds
2025
£
-
-
-
-
-
-
Restricted		 Total
2025
£
35,500
17,877
7,100
-
2,116
62,593		 Funds
2024
£
523
20,220
4,470
-
2,171
27,384
Unrestricted		 Funds
2024
£
-
-
-
73,700
-
73,700
Restricted		 Total
2024
£
523
20,220
4,470
73,700
2,171
101,084
5
Total resources expended
Charitable activities:
Project delivery
Staff salaries
Premises
General administration
Professional & legal		 Governance
2025
£
-
-
-
-
3,841
3,841		 Charitable
Activities
2025
£
44,799
110,161
21,137
5,214
-
181,311		 Total
2025
£
44,799
110,161
21,137
5,214
3,841
185,152		 Charitable
Activities
2024
£
-
-
-
-
6,591
6,591		 Total
2024
£
76,168
75,726
30,197
6,953
-
189,044		 Total
2024
£
76,168
75,726
30,197
6,953
6,591
195,635

31

BIG LOCAL WORKS BERMONDSEY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 JULY 2025

6 Independent Examiner's remuneration

The Independent Examiner's remuneration is a fee of £950 (2024: £950), comprising £550 for the Independent Examination (2024: £550) and £400 for the preparation of the financial statements (2024: £400).

7
Staff Costs
Wages and salaries
Wages and salaries
Social security costs
Pension costs		 2025
£
103,612
4,554
1,995
110,161		 2024
£
72,328
1,773
1,625
75,726

The average number of staff employed during the period was 3 (2024: 2).

The Manager is the sole key management personnel. The total employee benefits including Employer's National Insurance and employer's pension contribution of the Key Management Personnel was £66,809 (2024: £62,195).

One employee received emoluments in excess of £60,000 (2024: 1).

8 Trustees

No benefits were paid to trustees, nor expenses reimbursed to trustees during the period (2024: nil).

9
Fixed Assets
Cost
At 1 August 2024
Additions
At 31 July 2025
Depreciation
At 1 August 2024
Charge for period
At 31 July 2025
Net book value
At 31 July 2025
At 31 July 2024
10 Debtors
Trade debtors
Prepayments and Accrued Income		 Fixtures &
Fittings
£
39,888
-
39,888
37,746
1,985
39,731
157
2,142		 Computer
& Office
£
-
-
-
-
-
-
-
-
2025
£
4,250
330
4,580		 Total
£
39,888
-
39,888
37,746
1,985
39,731
157
2,142
2024
£
4,512
670
5,182

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

11 Creditors: amounts falling due within one period
Trade creditors
Other taxes and social security costs
Accruals
Deferred income
Grants for individuals - London Catalyst
Loans less than one year
Other creditors		 2025
£
1,631
1,632
4,100
2,000
-
10,648
362
20,373		 2024
£
3,437
1,274
950
834
800
10,648
351
18,294

32

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 JULY 2025

BIG LOCAL WORKS BERMONDSEY

11 Related Party Transactions

There have been no related party transactions in the period that require disclosure (2024: nil).

12 Movement in funds for the year ending 31st July 2025

Esmee Fairbairn: Made in Bermondsey support
Esmee Fairbairn: Funding plus
Re:London: Beyond Waste Recycling
L.B. Southwark: Empowering Communities
L.B. Southwark: Ethiopian Dancing
L.B. Southwark Neighbourhood: The Skills Bridge
L.B. Southwark: Thriving High Street fund
Greater London Authority: Good Growth
London Catalyst
Unrestricted funds
Total funds		 Brought
Forward
£
-
-
-
-
-
1,100
6,000
1,828
-
8,928
126,699
135,627		 Incoming
Resources
£
50,000
9,000
11,275
3,525
904
-
19,000
-
800
94,504
89,052
183,556		 Resources
Expended
£
(45,652)
(9,000)
(11,275)
(3,525)
(904)
(1,100)
(25,000)
(1,828)
(800)
(99,084)
(99,084)		 Transfers
£
-
-
-
-
-
-
-
-
-
-
-
-		 Carried
Forward
£
4,348
-
-
-
-
-
-
-
-
4,348
215,751
220,099

Restricted funds in 2024/25 were made up of the following:

Esmee Fairbairn awarded £50,000 as part of a multi-year grant for £210,000 to support core costs for the Made in Bermondsey project. Esmee Fairbairn also gave £9,000 to support marketing and communications for BLW.

Re:London granted £11,275 for the 'Beyond Waste Recycling' project - Re:London were commissioned by L.B.Southwark.

L.B. Southwark Neighbourhood Fund granted £3,525 for the 'Empowering Communities' project.

L.B. Southwark Neighbourhood Fund granted £904 for a local resident to run an Ethiopian Dancing project, hosted by BLW.

London Borough of Southwark's Thriving High Street fund awarded a grant of £25,000 for supporting local entrepreneurs to set up at the Blue Market.

The G.L.A. originally gave £50k from the Good Growth fund for refurbishing the Big Local Works centre - this is the last of the grant spent on depreciating assets.

Movement in funds for the year ending 31st July 2024

Esmee Fairbairn: Made in Bermondsey support
British Land
Charterhouse in Southwark
Postcode Lottery
L.B. Southwark Neighbourhood: The Skills Bridge
L.B. Southwark Neighbourhood: The Skills Bridge
Greater London Authority: Market
Greater London Authority: Good Growth
National Lottery Community Fund
National Lottery Bike project
Lambeth Unheard Voices Fund
Unrestricted funds
Total funds		 Brought
Forward
£
4,375
-
2,300
20,000
2,475
-
-
11,393
-
1,130
-
41,673
105,661
147,334		 Incoming
Resources
£
-
15,000
-
-
4,350
25,000
6,000
-
22,500
-
73,700
146,550
37,378
183,928		 Resources
Expended
£
(4,375)
(15,000)
(2,300)
(20,000)
(7,228)
(25,000)
-
(9,565)
(22,500)
(1,130)
(73,700)
(180,798)
(14,837)
(195,635)		 Transfers
£
-
-
-
1,503
-
-
-
-
-
-
1,503
(1,503)
-		 Carried
Forward
£
-
-
-
-
1,100
-
6,000
1,828
-
-
-
8,928
126,699
135,627

33

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 JULY 2025

BIG LOCAL WORKS BERMONDSEY

Restricted funds in 2023/24 were made up of the following:

Esmee Fairbairn granted three months' of seed funding to start 'Made in Bermondsey' project which it went onto fund in 24/25.

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

Charterhouse Southwark gave £2,300 towards the market in 22/23.

Postcode Lottery gave £20k towards the end of 22/23 for core funding.

London Borough of Southwark's North East Multi-Neighbourhood Award Fund gave two grants of £25,000 for a project to enable local employability skills training and 1-2-1 job search support needs, initially as a pilot project which was successful.

The G.L.A. originally gave £50k from the Good Growth fund for refurbishing the Big Local Works centre. In 22/23 the GLA agreed to transfer the £3,023 unspent balance to manage the market, other unspent funds represent future depreciation. The National Lottery's Community fund 3 year grant of £117k covering the salaries of core staff and office rent. The £25,000 income showing in 23/24 represents the last tranche of that grant.

Lambeth Unheard Voices engaged Big Local Works and The Empowerment People (as a partnership) to offer 6 months of support to NEET young people in Lambeth looking for employment or self employment opportunities.

13 Analysis of Net Assets between Funds

At 31 July 2025
Fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
At 31 July 2024
Fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year		 2025
Unrestricted
funds
£
157
157,431
(18,373)
(7,532)
131,683
2024
Unrestricted
funds
£
314
162,305
(18,294)
(17,626)
126,699		 2025
Restricted
funds
£
-
4,348
(2,000)
2,348
2024
Restricted
funds
£
1,828
7,100
-
-
8,928		 2025
Total
funds
£
157
161,779
(20,373)
(7,532)
134,031
2024
Total
funds
£
2,142
169,405
(18,294)
(17,626)
135,627

34