OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2024-04-01-accounts

Charity registration number 1183264

HOUNSLOW'S PROMISE

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

HOUNSLOW'S PROMISE

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees S Malhotra A D Fraser J Frost CBE A L Rides S Devarashetty Charity number 1183264 Principal address Cranford Community College High Street Hounslow TW5 9PD Independent examiner Francis Corbishley Moore Northern Home Counties Limited First Floor 73-75 High Street Stevenage Hertfordshire SG1 3HR

HOUNSLOW'S PROMISE

CONTENTS

Page
Trustees' report 1 - 6
Independent examiner's report 7
Statement of financial activities 8
Balance sheet 9
Notes to the financial statements 10 - 15

HOUNSLOW'S PROMISE

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2024

The trustees present their annual report and financial statements for the year ended 31 March 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's constitution, the Charities Act 2011 (amended 2022) and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

Objectives and activities Summary of the purposes of the charity

To advance in life and help young people in Hounslow for public benefit by providing information, advice

and assistance, programmes, activities and other support to develop:

(a) their skills, capacities and capabilities to enable them to participate in society as independent, mature

and responsible individuals;

(b) their education to prepare them for entry to any occupation, trade or profession on leaving any educational establishment;

To develop the capacity and skills for public benefit of the diverse members of the communities of Hounslow, particularly those communities which are under-privileged, in such a way that they are better able to identify, and help meet, their needs and to participate more fully in society.

Public benefit

All trustees have read and understand the guidance issued by the Charity Commission on public benefit and have regard to public benefit guides PB1, PB2 and PB3 when making decisions they are relevant to.

Main activities

The main initiatives for Hounslow’s Promise for this year included delivering our:

  1. Connected Futures - Young Leaders Programme

  2. ConnectedKids@Home

  3. Employability Skills – Summer Programme

  4. The Hounslow Christmas Project

  5. Gala Dinner – A Celebration of Young People in Hounslow.

1. The Connected Futures – Young Leaders Programme meets all four of the charity’s purposes. This programme targeted 13 young people aged 16 to 17 based at a school in the Borough of Hounslow. A further 2 schools and a college start the programme in March 2024 which included another 22 students.

HOUNSLOW'S PROMISE

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

2. Connecting Kids@Home Project

Through the ConnectedKids@Home initiative Hounslow’s Promise works with local schools to help provide computers and laptops who need to study at home but so not have access to a computer or the internet. During the year ending March 2024 we donated 114 laptops to students in 9 schools aged from 8 to 17, this improved online access at home to support vulnerable students’ schoolwork.

3. Employability Skills - Summer Programme

The Employability Skills Summer Programme was designed and delivered for students aged between 16 and 20 students who wanted to improve their chances of gaining meaningful employment. The workshop included sessions on communications skills, job search techniques, CV writing and interview skills

Hounslow’s Promise also has supported a wider borough project in Hounslow as a community partner.

4. The Hounslow Christmas Project

The Hounslow Christmas Project has worked through businesses, individual donations, Hounslow Education Partnership and Reach Foundation in Feltham to fundraise to buy wrap and deliver gifts from the community to children from disadvantaged backgrounds. Volunteers were involved in running the project which saw over 2500 gifts delivered for children to 40 schools across the Hounslow.

5. Gala Dinner - A Celebration of Young People in Hounslow

Hounslow’s Promise Gala Dinner was a celebration of young people achievements. It provided the opportunity to highlight the work done by the charity and launch new programmes that have been planned. Those who attended also had the opportunity to hear from some of the young people we have supported. 294 people attended the event and was supported by student ambassadors who welcomed and engaged with guests through the evening.

Volunteers

Contribution made by volunteers

We have been supported by volunteers with relevant experience through every stage of our work.

Over 20 mentors were recruited and trained during this period.

Students from schools in Hounslow volunteered our Gala Dinner.

Volunteers supported our Christmas Project by wrapping and delivering presents.

Discussion and proposal to set-up Teachers Advisory Board

HOUNSLOW'S PROMISE

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Achievements and performance

Significant activities and achievements against objectives

Main achievements of the charity

Hounslow’s Promise main achievements over the year was the roll out of our programmes which led us to engage with over 100 young people and 20 mentors. The charity also engaged with more schools, community groups and national organisations.

1) The feedback from the beneficiaries on the Connected Futures - Young Leaders programme showed that students felt:

2) The Connecting Kids@Home project delivered 114 laptops to students in 9 schools around the Borough of Hounslow. The feedback from students and teachers showed that:

3) Employability Skills – Summer Programme was delivered over three days to 5 students. The feedback from students was very positive. Feedback showed

4) The Hounslow Christmas Project including with support from Hounslow’s Promise saw over 2500 gifts for children from poorer families in 40 schools across the borough with heartfelt thanks received from schools and young people alike.

5) Hounslow’s Promise Gala Dinner was attended by 294 people including those from community groups, businesses, councillors and staff from Hounslow Council to celebrate the success of the young people the charity supported through the programmes we deliver, with commitments to support business visits, building partnerships and becoming mentors.

HOUNSLOW'S PROMISE

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Fundraising performance

The Gala Dinner raised funds contributing to core funding for the year, as well as engaging our local civic and business leaders on the mission and programmes of the charity. The event also served as a celebration of the achievements of young people in Hounslow. Objectives for the event which were met included:

The event also helped build relationships with donor for core funding and programmes to be secured for the financial year 2024/25.

Financial review

Review of the charity's financial position

The finances continue to be on a firmer financial following the pandemic years as demonstrated by increased business engagement at the successful Gala Dinner and in our programme activity.

Reserves policy

Reserves are held for the following reasons - continuity of business and support for medium and long term development plans. The Trustees’ current policy is to hold three months running costs as a minimum reserve so as to be able to respond to changes in circumstances and adapt as needed. This policy is also kept under annual review with advice as to whether to increase reserves from the three month minimum as our activity increases.

Amount of reserves held

At the balance sheet date, the charity held free reserves of £20,172.

Principal funding sources

Principal sources of funds

Core funding through individual and business donations through the Patrons and Fellows schemes

Core and programme funds raised at Gala Dinner through sales of tickets, donations, raffles, auctions

Sponsorship of individual events or activity by local businesses or individual donors

Bid writing to grant giving bodies, trusts and grants.

HOUNSLOW'S PROMISE

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Major risks Principal risks facing the charity

Increasing the recruitment and training of volunteers and mentors to keep up with the increased roll out of programmes, We also support our mentors inductions with training covering safeguarding, as well as mental health, anxiety and which research shows is high in young people.

Ability to connect and engage with schools to reach students due to constrained resources of school. As a result we are looking at different routes of mitigating this, by looking at different way of delivering programmes delivering such as delivering them at weekends in the community.

Factors likely to affect future financial performance

The Trustees have no concerns about the charity continuing as a going concern.

Structure, governance and management Nature of governing document and how the charity is constituted

The charity is a charitable incorporated organisation (CIO) as set out in its constitution dated 3 May 2019.

The trustees who served during the year and up to the date of signature of the financial statements were: S Malhotra

A D Fraser

K Prunty (Resigned 28 April 2024) J Frost CBE A L Rides S Devarashetty

Recruitment and appointment of trustees Recruitment and appointment of trustees

Trustees are recruited from the local community or more widely where they bring external experience and expertise in areas relevant to the charity objects.

In selecting individuals for appointment as charity trustees, they must have regard to the job description which includes skills, knowledge and experience needed for the effective administration of the CIO.

Organisational structure

We work closely with the London Borough of Hounslow, the Hounslow Chamber of Commerce, the Hounslow Education Partnership and with local community and charitable organisations. We have also been a part of the national Youth Employment Group with other charities working with young people.

Relationship with related parties

We have developed links with the End Child Poverty Coalition and Youth Employment Group.

HOUNSLOW'S PROMISE

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

The trustees' report was approved by the Board of Trustees.

.............................. S Devarashetty

29 Jan 2025

Date: .............................................

HOUNSLOW'S PROMISE

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HOUNSLOW'S PROMISE

I report to the trustees on my examination of the financial statements of Hounslow's Promise (the charity) for the year ended 31 March 2024.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act) (amended 2022) .

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act (amended 2022).

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

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 that in any material respect:

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 financial statements to be reached.

Francis Corbishley

Francis Corbishley

Independent Examiner

Moore Northern Home Counties Limited First Floor 73-75 High Street Stevenage Hertfordshire SG1 3HR

29 Jan 2025 Dated: .........................

HOUNSLOW'S PROMISE

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted Unrestricted
funds funds
2024 2023
Notes £ £
Income from:
Donations and legacies 2 73,301 26,624
Charitable activities 3 - 12,500
Total income 73,301 39,124
Expenditure on:
Charitable activities 4 70,474 43,923
Total expenditure 70,474 43,923
Net income/(expenditure) and movement in funds 2,827 (4,799)
Reconciliation of funds:
Fund balances at 1 April 2023 17,345 22,144
Fund balances at 31 March 2024 20,172 17,345

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

HOUNSLOW'S PROMISE

BALANCE SHEET

AS AT 31 MARCH 2024

2024
Notes
£
Current assets
Debtors
9
7,034
Cash at bank and in hand
24,645
31,679
Creditors: amounts falling due within
one year
10
(11,507)
Net current assets
The funds of the charity
Unrestricted funds
11		 £
20,172
20,172
20,172		 2023
£
-
20,105
20,105
(2,760)		 £
17,345
17,345
17,345

29 Jan 2025

The financial statements were approved by the trustees on .........................

.............................. S Devarashetty

HOUNSLOW'S PROMISE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

Charity information

Hounslow's Promise is a charitable incorporated organisation whose principal address is Cranford Community College, High Street, Hounslow, TW5 9PD.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's constitution, the Charities Act 2011 (amended 2022) and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

HOUNSLOW'S PROMISE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised in the statement of financial activities on an accrual basis as a liability is incurred. Expenditure includes any VAT which can not be fully recovered.

Costs of generating funds comprise the costs associated with attracting voluntary income.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries.

1.6 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. Bank overdrafts are shown within borrowings in current liabilities.

1.7 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

HOUNSLOW'S PROMISE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.8 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Donations and gifts 73,301 1,624
Grants - 25,000
73,301 26,624

3 Income from charitable activities

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Other income - 12,500

HOUNSLOW'S PROMISE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

4 Charitable activities

Unrestricted
Unrestricted
funds funds
2024 2023
£ £
Staff costs 36,195 17,723
Laptops donated 16,451 -
Computer and software 499 562
Staff training - 2,914
Sundry 8,700 7,541
61,845 28,740
Share of support costs (see note 5) 3,952 5,706
Share of governance costs (see note 5) 4,677 9,477
70,474 43,923

5 Support and governance costs

Support
costs
Governance
costs
£
£
Insurance
-
-
Administrative costs
-
-
Payroll administration
3,952
-
Accountancy
-
1,350
Legal and professional
-
40
Independent examination fee
-
3,287
3,952
4,677
Allocated to
Charitable activities
3,952
4,677		 Total
£
-
-
3,952
1,350
40
3,287
8,629
8,629		 2023
£
490
2,828
2,388
-
7,802
1,675
15,183
15,183

6 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

7 Employees

The average monthly number of employees during the year was:

2024 2023
Number Number
1 1

HOUNSLOW'S PROMISE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

7
Employees
Employment costs
Wages and salaries
Social security costs
Other pension costs		 (Continued)
2024
2023
£
£
35,356
13,207
-
4,146
839
370
36,195
17,723		 (Continued)
2024
2023
£
£
35,356
13,207
-
4,146
839
370
36,195
17,723
17,723

There were no employees whose annual remuneration was more than £60,000.

8 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 9 Debtors

Amounts falling due within one year:
Trade debtors
Other debtors		 2024
£
6,319
715
7,034		 2023
£
-
-
-

10 Creditors: amounts falling due within one year

Other taxation and social security
Trade creditors
Accruals and deferred income		 2024
£
178
6,805
4,524
11,507		 2023
£
-
-
2,760
2,760

11 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April Incoming Resources At 31 March
2023 resources expended 2024
£ £ £ £
General funds 17,345 73,301 (70,474) 20,172

HOUNSLOW'S PROMISE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

11
Unrestricted funds
Previous year:
At
General funds
12
Related party transactions		 (Continued)
1 April
2022
Incoming
resources
Resources
expended
At 31 March
2023
£
£
£
£
22,144
39,124
(43,923)
17,345

There were no disclosable related party transactions during the year.

Issuer Moore Northern Home Counties Limited Document generated Tue, 28th Jan 2025 14:28:25 GMT Document fingerprint 0d0702ef489927f9f3c78e3a8bed020c

Parties involved with this document

Document processed

Party + Fingerprint

Wed, 29th Jan 2025 8:43:23 GMT Wed, 29th Jan 2025 10:40:11 GMT

Shankar Devarashetty - Signer (192575ea91bd0f1ba8c50c504a14013f) Francis Corbishley - Signer (c5e4f868e20bffe3b9b054d00bbbdb26)

Audit history log

Date

Action

Wed, 29th Jan 2025 10:40:11 GMT Wed, 29th Jan 2025 10:40:11 GMT Wed, 29th Jan 2025 10:40:11 GMT Wed, 29th Jan 2025 10:39:35 GMT Wed, 29th Jan 2025 8:43:32 GMT Wed, 29th Jan 2025 8:43:30 GMT

Wed, 29th Jan 2025 8:43:30 GMT Wed, 29th Jan 2025 8:43:25 GMT Wed, 29th Jan 2025 8:42:31 GMT Wed, 29th Jan 2025 8:42:10 GMT Wed, 29th Jan 2025 8:42:07 GMT Wed, 29th Jan 2025 8:42:07 GMT Wed, 29th Jan 2025 8:21:40 GMT Wed, 29th Jan 2025 8:21:40 GMT

Tue, 28th Jan 2025 14:28:25 GMT

Tue, 28th Jan 2025 14:28:25 GMT

Francis Corbishley viewed the envelope (149.107.98.50) This envelope has been signed by all parties (149.107.98.50) Francis Corbishley signed the envelope (149.107.98.50) Francis Corbishley viewed the envelope (149.107.98.50) Shankar Devarashetty viewed the envelope (82.41.91.214) Sent the envelope to Francis Corbishley (Francis.corbishley@moorenhc.co.uk) for signing (82.41.91.214) Document emailed to Francis.corbishley@moorenhc.co.uk (18.175.49.204) Shankar Devarashetty signed the envelope (82.41.91.214) Shankar Devarashetty viewed the envelope (82.41.91.214) Shankar Devarashetty opened the document email. (82.41.91.214) Shankar Devarashetty opened the document email. (82.41.91.214) Shankar Devarashetty opened the document email. (82.41.91.214) Document emailed to shankar@oasisaccountants.co.uk (13.40.11.58) Sent the envelope to Shankar Devarashetty (shankar@oasisaccountants.co.uk) for signing (149.107.98.50) Document generated with fingerprint 0d0702ef489927f9f3c78e3a8bed020c (149.107.98.50) Envelope generated by Alfie Pettitt (149.107.98.50)