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2024-05-31-accounts

(Charity Reg. No: 1204276) Annual Report and Accounts For the year ended 31st May 2024

POWER 2 CONNECT

Annual Report and Accounts

For the year ended 31 May 2024 Charity registration number: 1204276

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(Charity Reg. No: 1204276) Annual Report and Accounts For the year ended 31st May 2024

Table of Contents

Reference and Administrative Information ................................................................................. 3 Annual Report of the Trustees ....................................................................................................... 4 Report of the Independent Examiner to the Trustees of Power 2 Connect .......................... 14 Statement of Financial Activities ................................................................................................ 16 Balance Sheet as of 31st May 2024 ............................................................................................. 17 Notes to the Financial Statements for the year ended 31st May 2024 ................................. 18 1. Accounting policies ............................................................................................................... 18 2. Critical judgements and estimates .................................................................................... 21 3. Donation & Legacies ............................................................................................................. 22 4. Expenditure on Charitable Activities ................................................................................. 23 5. Creditors: amounts due within 1 year ................................................................................ 23 6. Purposes of funds .................................................................................................................. 24

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(Charity Reg. No: 1204276) Annual Report and Accounts For the year ended 31st May 2024

Reference and Administrative Information

The Board of Trustees is pleased to submit our report and independently examined financial statements for the year ended 31st May 2024.

POWER2CONNECT was incorporated on 30[th] May 2020 as a CIC and registered as a charity on the 9[th ] August 2023 (number 1204276). Its objects, powers, and other constitutional matters are set out in its Constitution dated 09[th ] August 2023. These financial statements comply with the current Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) – Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Companies Act 2006.

Charity Name Power2Connect
Charity Registration The Charity was registered with the Charity Commission on 09th
August 2023. The registration number is 1204276
Registered St. George’s Primary School
Ofice Corunna Road
London
SW8 4JS
Charitable Objects The charity’s objects are for the public beneft, particularly, but not
exclusively in the London Borough of Wandsworth:
(a) For the public beneft, to relieve poverty or fnancial hardship by
providing or assisting in the provision of IT equipment to children,
families, and adults who could not otherwise aford them.
(b) For the public beneft, to advance education by providing digital
and IT education and training that the trustees deem appropriate for
children, families, and adults.
Board of Trustees The Trustees who served during the year or who were serving at the
date of this report were:

Bankers Metro Bank: 4-8 St John’s Rd, London, SW11 1PN

Independent Examiner Luisa Hansen

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(Charity Reg. No: 1204276) Annual Report and Accounts For the year ended 31st May 2024

Annual Report of the Trustees

1 Structure, Governance & Management

1.1. Structure

Power2Connect is a registered charity.

1.2. Governance

Governance of the Charity is exercised through the Board of Trustees (‘the Board’). The Board is made up of independent lay members who are responsible for the Charity’s conduct and for ensuring that it satisfies all legal and contractual obligations. The Trustees are volunteers and are not remunerated for their time. The Board is comprised of 6 Trustees with a broad range of experience including legal, commercial, finance, and public sector experience.

The Board is responsible for setting the Charity’s strategic direction and is ultimately accountable for how effectively the Charity meets its defined aims through direct charitable activity.

The Board employs staff members who support the Charity’s strategic planning and operational activities. Trustees meet every month and financial and operational reports are provided to the Board monthly.

1.3. Trustee Recruitment, Induction and Training

The Chair of the Trustees is appointed by the Board of Trustees. The Board of Trustees has power to appoint additional Trustees to ensure that all relevant skills and experience are represented. Every Trustee must be appointed by a resolution of the Trustees. The appointed Trustees fulfil their duties without any term limitations. A Trustee shall cease to hold office if they (1) are disqualified for acting as a Trustee by virtue of sections 178 and 179 of the Charities Act 2011 or any statutory re-enactment or modification of that provision, (2) are no longer able to fulfil duties due to medical reasons, (3) are absent without the permission of the Trustees from all their meetings held within a period of six months, (4) notify to the Trustees a wish to resign.

The induction process for any individual newly-appointed to the Board of Trustees comprises an initial meeting with the board.

A newly appointed trustee will receive:

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(Charity Reg. No: 1204276) Annual Report and Accounts For the year ended 31st May 2024

1.4. Principal Risks and Uncertainties

The Charity conducts regular reviews across various areas of risk including device insurance coverage, workplace safeguarding and health & safety policies, financial management and operational. The Trustees believe that, apart from uncontrollable external factors, these risks have been mitigated to a satisfactory level.

Financial management is closely monitored by the Treasurer. Ensuring a budget is approved annually before the start of the financial year and all expenditures are monitored against this budget. The Chair and Treasurer authorise expenditures, ensuring they remain within the financial envelope.

The Trustees assess major risks to the organisation during regular board meetings, informed by organisational updates from the Head of Operations & Treasurer. These assessments encompass financial risks, maintaining an appropriate level of reserves, and ensuring that all activities align with the organisation’s objectives, charities mission statement and values.

1.5. Reserves Policy

The charity holds free reserves for a variety of purposes. In a relatively steady operating environment such purposes would include:

The charity’s free reserves stood at £14,674 based on the financial statements for the year ended 31st May 2024, Power2Connect achieved a total net income of £38,732 and total funds carried forward of £82,019.

The Trustees remain of the view that a minimum level of free reserves of £34,200, roughly equivalent to six months of core operating costs, should be maintained. While we build reserves up to that level, the charity is committed to ensuring that no reduction in reserves occurs.

Given that staffing is our main expenditure, it is crucial to ensure we have sufficient reserves to cover salaries and related costs in the event of financial instability. Reserves can be used for planned activities aligned with the organisation’s strategic goals, provided they do not reduce the reserve below the minimum level. In emergency situations, reserves can be accessed to cover unforeseen financial difficulties or unexpected expenditures such as significant income reductions and this is decided at the Board meeting.

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(Charity Reg. No: 1204276) Annual Report and Accounts For the year ended 31st May 2024

2.0. Activities and Strategies

In August 2023, after more than three years as a Community Interest Company, Power2Connect (P2C) became a registered charity by transitioning to a CIO. P2C is dedicated to bridging the digital divide and ensuring equal access to the online world for everyone. Since our launch in April 2020, we’ve provided over 3,000 devices to those in need within the Wandsworth community, distributed £10,000 worth of data packages and trained over 500 individuals in digital skills and online safety.

Our mission is to ensure that everyone has access to digital technology and the knowledge, skills and confidence to use it. We achieve this through several key objectives:

P2C continues to work towards its mission of providing digital access and education for everyone, ensuring no one is left behind in the digital age.

The Board confirm that they have complied with the duty in the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission.

3.0. Our Impact

P2C was set up during the Covid-19 pandemic as a direct response to school closures, addressing concerns raised by grassroots organisations in Wandsworth. Many children faced exclusion from learning and potential isolation due to not having access to digital devices or the internet. Evidence gathered since the pandemic shows that there has been a permanent change in the use of online education and impacts of digital exclusion include reduced access to jobs and education, poorer health outcomes, and increased loneliness and social isolation. This situation worsens existing inequalities and creates new ones, making it even harder for people to fully participate in society.

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(Charity Reg. No: 1204276) Annual Report and Accounts For the year ended 31st May 2024

Over the past four years, P2C has evolved from a Covid-19 response initiative into a robust, lasting solution for addressing digital inequality, offering wrap-around support to tackle these ongoing challenges within our community.

3.1. Devices

Central to our mission is the provision of devices. This year, we’ve collected 623 redundant devices, repaired and repurposed 603 of them to help our local communities get connected and achieve digital independence. These devices have been given to individuals experiencing digital exclusion, often further exacerbated by additional challenges, with 95% from low-income households and 24% living with a disability or long-term health condition.

Our efforts make a significant difference in the communities we support by enhancing educational outcomes, increasing ease of access and reducing stress and isolation. Many recipients, especially families concerned about their children's digital access, have reported noticeable improvements in education and well-being thanks to our efforts:

“Having a laptop means I can go on TT Rockstars at home and practice times tables with my friends. I’ve moved up to being a Rock Legend. I also got a badge from my teacher because I had improved the most one week”

“I'm so thankful for your support - I'm now able to do my homework and other online assignments”

“The laptop is so good, beyond what I expected – compact and fast. I can't thank you enough for blessing me with such a gift. So easy to carry with me around college and so good like brand new”

3.2. Connectivity

Access to technology is just one aspect of digital inclusion. Research shows that nearly a third of people know someone without internet access, which often prevents them from completing simple tasks like registering for services, making purchases or

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(Charity Reg. No: 1204276) Annual Report and Accounts For the year ended 31st May 2024

managing online banking. Thanks to the Good Things Foundation’s National Digital Inclusion Network, we have been able to access their databank and provide free mobile data. This year, we have distributed 176 free data SIMs to those in our community struggling to afford connectivity.

3.3. Digital Skills and Support

This year, we have placed a strong emphasis on enhancing digital skills and support within our community. We understand that providing a device is only part of the solution; without opportunities to build digital literacy and confidence, many people remain digitally excluded. This year, we supported 409 unique people through our digital skills and support initiatives - a huge 250% increase from last year.

We have continued to run our Family Online Safety course at local community spaces for parents and carers. This course was introduced due to numerous concerns about children's online safety. We have heard from many families about serious issues like cyberbullying, identity theft and the growing concerns around online gaming and its connection to online gambling for young people. There is also a worrying increase in instances where children and young people are confused about cyber ethics, sometimes not realising that their online actions could be illegal. Our course aims to address these issues, providing families with practical and insightful information to help their children use their devices safely, securely and ultimately for success. All of the parents and carers who provided feedback following the course said they have a better understanding of how to stay safe online and felt more digitally confident after the course.

“It's an amazing course and I learnt so much about keeping myself and my children safe online. Big thanks to the tutors. I really appreciate their help and support.”

“The tutor was brilliant, but it really helped calm my anxieties talking with other parents and grandparents that are going through similar issues. Thank you for the opportunity”

This year, we saw the launch of our Essential Digital Skills course to help people get started online with their newly refurbished P2C devices. The course covers topics like using office tools, managing email, online safety and searching for information online. These courses have made a big difference, giving individuals the chance to ask questions and address concerns they previously struggled with.

We also introduced our Entrepreneur and E-Commerce workshops , which help people use platforms like Vinted and eBay to start selling online. These workshops

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(Charity Reg. No: 1204276) Annual Report and Accounts For the year ended 31st May 2024

boost both financial and digital inclusion, teaching individuals how to earn extra income and build their digital and financial confidence.

“This workshop was brilliant. I am so grateful for the opportunity to attend; I have been considering Vinted for some time and now have the skills and confidence to get going. THANK YOU”

We know that building digital skills and confidence isn’t one-size-fits-all process. People facing additional barriers to technology, such as accessibility needs, ESOL learners, or older adults, often face extra challenges. That’s why our Digital Drop-In sessions are a key part of our work. These informal sessions offer personalised help with laptops, tablets or smartphones, answer questions, solve problems, or provide guidance for those curious about the online world but unsure where to start. They are great space for those who may not benefit as much from group training but still need to improve their digital skills and access support. Sessions are run in local libraries and community spaces, allowing participants to connect, share tips, and receive expert advice from P2C volunteers in a friendly, supportive environment.

“The support I’ve received through the Digital Drop-in has been fantastic; the volunteers have helped me to protect myself from scams when I had a bad experience. I have enjoyed making friend through these sessions. It’s been so lovely for me mentally.”

“The most useful think was to learn that I’m not the only one that struggles with technology. It’s given me hope and I know where to go when I need help.”

3.4. Wraparound Support

Our wraparound digital support encourages a digitally confident, environmentally sustainable and thriving community. We offer opportunities to get involved through device donations, volunteering, skill-building, and becoming digital champions and trainers.

Our services often support people at multiple stages of their digital journey. For example, a local mother whose child received a laptop from us through their school later enrolled in our family online safety course. She shared her enthusiasm for t-shirt design and began attending our digital drop-in sessions to learn more. With our help, she launched an online shop and has transitioned from unemployment to running her own successful business.

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(Charity Reg. No: 1204276) Annual Report and Accounts For the year ended 31st May 2024

3.5. Digital Champions

This year, we saw the pilot of our Digital Champion initiative, training 14 staff members and volunteers from VCSE groups in Wandsworth. The initiative was designed to help them support digitally excluded adults they already work with, including those from food banks, refugee and migrant charities, older people’s organisations and mental health services.

The goal is to help empower digital excluded adults by boosting their confidence and expanding opportunities for online education, employment and social connections. Digital Champions learned about the barriers digitally excluded adults may face, developed practical skills and became familiar with useful resources. Training was delivered through a mix of in-person sessions and online learning via Digital Unite's Digital Champions Network.

We’re thrilled to report that the pilot was a success, and we’re now excited to move forward with the next phase, focusing on training more frontline staff in Wandsworth, including those in libraries and support roles to become Digital Champions.

“At our project it has helped formalise and direct the service we're delivering”

“It opened up such a raft of information and support, after having worked in the dark for so long on Digital Exclusion, it was truly great”

“Being a Digital Champion has made me feel more confident and able to help people better”

3.6. Partnerships

We have always worked closely with Wandsworth Council, local schools and organisations, recognising that they are best positioned to identify those in need of our support. Through these valuable connections within the community, we have been able to understand diverse needs and tailor our services accordingly. Our experience has shown that there is no single solution to bridging the digital divide.

Our work is fundamentally collaborative; we don’t operate in isolation. We utilise existing networks and systems to reach individuals cut off from the digital world, partnering with local schools, libraries, food banks, GP’s and community groups.

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(Charity Reg. No: 1204276) Annual Report and Accounts For the year ended 31st May 2024

“We see many people in extreme hardship, who's income doesn't cover essentials like food and utilities. It's so good to partner with Power 2 Connect, so that devices can be given to people who would have otherwise been digitally excluded and can now access vital online services and job and training opportunities”

– Wandsworth Foodbank representative.

This year, we have concentrated on strengthening these partnerships and enhancing our collective efforts to deliver better outcomes for our community. For example, our recent collaboration with Care4Calais and Wandsworth Welcome Refugees enabled us to secure 40 devices and data from the Good Things Foundation for asylum hotel residents in Wandsworth, along with providing one-on-one setup support.

“It has been excellent working with Power 2 Connect to provide laptops and data to asylum seekers in Wandsworth. Our organisation operates nationwide, and this type of support has not been possible elsewhere. It plays a crucial role in helping individuals in settling into their new environment, facilitating access to online services and resources, ESOL classes and other learning opportunities while helping maintain vital connections with loved ones. The personalised 1-1 setup support has added an extra level of care, ensuring that individuals are proficient in using the devices and set up to their specific needs. A huge thank you to Power 2 Connect for the invaluable support they have provided”.

P2C are also leading the collaboration of ‘Wandsworth Digital’, a network of 70+ local organisations who provide vital front-line support to some of the most vulnerable residents in Wandsworth. We pool expertise, share training and resources and identify digital disparities to extend support to marginalised residents facing various inequalities including families dealing with poverty, domestic abuse, unemployment, asylum seeking and language barriers, collectively striving for digital inclusion.

3.7. Sustainability

A major focus of our work is the sustainability of technology and tackling the growing e- waste problem in the UK. We encourage device recycling to help reduce e-waste and support our community. Our commitment to a circular economy highlights how reuse and repair can address both social and environmental challenges in our community. In total we have diverted 3323 devices from landfill, saving an estimated 1 million kgs of CO2 emissions.

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(Charity Reg. No: 1204276) Annual Report and Accounts For the year ended 31st May 2024

3.8. Volunteers

Our dedicated volunteer team, many of whom have been with P2C from the start, brings a diverse range of skills from IT consulting, interior design, forensic computing and data analytics. Despite their busy lives, they work tirelessly to provide essential devices, offer digital support and skills sessions, and reduce the stigma and impact of digital exclusion for individuals and families in Wandsworth. Their commitment is truly inspiring and crucial to our success.

Since our launch, 73 volunteers have signed up to support P2C, contributing to over 1,000 hours this year.

Our volunteers are organised into four key roles:

- Digital Champion Volunteers: support skills sessions to enhance digital literacy and confidence.

- IT Specialists: clean and refurbish donated devices, ensuring they are ready for distribution to schools and community organisations.

- Transport Volunteers: handle the safe collection and delivery of donated devices, making sure they reach those in need.

- Social Media Volunteers: raise awareness of P2C’s work and help combat the stigma of digital exclusion for individuals in Wandsworth.

3.9. Community Support

Our progress shows how much our community values our work. Many people and businesses have supported us through donations and volunteering, and both organisations and individuals benefit from our services. We stay connected by involving our community in all our efforts and using their feedback and ideas. In June 2023, we were honoured to receive the Wandsworth Community Hero Award at the Wandsworth Chamber of Commerce Business Awards.

4. Future Plans

The digital divide is still a major challenge in our community. As we move into the next year, we're dedicated to closing this gap by not just providing technology, but also by improving skills, opportunities, and awareness. To keep up with growing demand, we aim to expand our capacity and offer more opportunities for our partners, donors, and volunteers. Our goals include delivering more devices, forging sustainable partnerships with local businesses, and widening our impact. We’ll also engage in the national conversation on digital inclusion and prioritise involving those with firsthand experience of digital exclusion.

As our network and service requests grow, we'll focus on boosting our capacity and collaborating with more groups to tackle digital challenges. In 2024, we plan to diversify

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(Charity Reg. No: 1204276) Annual Report and Accounts For the year ended 31st May 2024

our income sources, recruit up to two new trustees, and, funds permitting, increase our operational capacity with additional staff. We'll continue to advance key initiatives like Digital Skills and Support and the Digital Champion initiatives drawing on feedback and ideas from our community.

6. Responsibilities of Trustees for the Annual Accounts

The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The Trustees are required to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income or expenditure, of the charity for that period.

In preparing these accounts, the Trustees are required to:

The Trustees are responsible for keeping proper and adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

7. Approval

The report of the Trustees was approved by the Trustees on 28[th] August 2024 and signed on its behalf by:

Michael Hallick

Chair

Date: 28/08/2024

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(Charity Reg. No: 1204276) Annual Report and Accounts For the year ended 31st May 2024

Report of the Independent Examiner to the Trustees of Power 2 Connect

I report on the annual accounts of Power 2 Connect for the period ended 31 May 2024, set out on pages 15 to 22.

This report is made solely to the Charity Trustees in accordance with section 145 of the Charities Act 2011 (the Act). My independent 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 the law, I do not accept responsibility to anyone other than the Trust and the Trustees for my independent examination, for this report, or the opinions I have formed.

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER

The Charity Trustees consider that an audit is not required for this (under section 144(2) of the Act) and that an independent examination is needed.

It is my responsibility to:

• To follow the procedures laid down in the General Direction given by the Charity Commission (under section 145(5)(b) of the Act); and

BASIS OF INDEPENDENT EXAMINER’S STATEMENT

My examination was carried out in accordance with General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the Charity Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the accounts.

INDEPENDENT EXAMINER’S STATEMENT

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

  1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

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.

Luisa Hansen, ACCA

Date: 20/08/2024

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(Charity Reg. No: 1204276) Annual Report and Accounts For the year ended 31st May 2024

Wandsworth Council, High Street, SW18 2PT

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(Charity Reg. No: 1204276) Annual Report and Accounts For the year ended 31st May 2024

Statement of Financial Activities for the year ended 31st May 2024 (incorporating an income and expenditure account)

Statement of Financial Activities for the year ended 31st May 2024 (incorporating an income and expenditure account)

Note
Income from:
Donations and legacies
3
Total income
Expenditure on:
Charitable activities
4
Total expenditure
`
Net income (expenditure)
Transfers between funds
Net movement in funds
Reconciliation of funds:
Total funds brought
forward
Total funds carried
forward		 Restricted
£
94,750
94,750
(58,608)

(58,608)
36,142
-
36,142
-
-		 Unrestricted
£
14,674
14,674
(12,084)
(12,084)
2,590
-
2,590
-
-		 2024
Total
£
109,424
109,424
(70,692)
(70,692)
38,732
-
38,732
43,287
82,019		 2023
Total
£
37,665
37,665
(55,497)
(55,497)
(17,832)
-
(17,832)
61,119
43,287

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(Charity Reg. No: 1204276) Annual Report and Accounts For the year ended 31st May 2024

Balance Sheet as of 31st May 2024

Statement of Balance Sheet as of 31st May 2024

Notes
Fixed Assets
Current Assets
Cash at Bank
Creditors: amounts
falling due within one
year
5
Net Current Assets
Net Assets
Capital and Reserves
Profit & Loss
Retained Income		 2024
Total
£
-
85,258
3,238
82,019
82,019
-
38,732
43,287
82,019		 2023
Total
£
-
44,459
1,172
43,287
43,287
-
(17,832)
61,119
43,287

The annual accounts were approved by the Trustees on 28[th] August 2024 and signed on its behalf by:

Michael Hallick, Chair

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(Charity Reg. No: 1204276) Annual Report and Accounts For the year ended 31st May 2024

Notes to the Financial Statements for the year ended 31st May

2024

1. Accounting policies

1.1. General information

Power2Connect is a charity registered with the Charity Commission (charity registration number 1204276)

1.2. Going concern

The Trustees confirm that at the time of approving the financial statements, there are no material uncertainties regarding the Charity’s ability to continue in operational existence for the foreseeable future. In arriving at this conclusion the Trustees have taken account of current and anticipated financial performance in the current economic conditions, its business plan and its reserves position.

For this reason, the going concern basis continues to be adopted in the preparation of the Charity’s financial statements.

1.3. Basis for preparation

The financial statements have been prepared under the historic cost convention unless otherwise stated in the relevant accounting policy notes and in accordance with 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 (FRS102) (effective 1st January 2015) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The principal accounting policies that have been applied to all years presented in these financial statements are set out below.

The preparation of financial statements requires the use of certain critical accounting estimates. It also requires Trustees to exercise their judgement in the process of applying the accounting policies. Use of available information and application of judgement are inherent in the formation of estimates. Actual outcomes in the future could differ from such estimates. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed in Note 2.

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(Charity Reg. No= 12042761 Annual Report and Accounts For the year ended 31 st May 2024 191Page

(Charity Reg. No: 1204276) Annual Report and Accounts For the year ended 31st May 2024

1.4. Recognition of outstanding employee benefits

No provision for outstanding holiday pay was made under previous UK GAAP. Under FRS 102 the costs of short-term employee benefits are recognised as a liability and an expense. The cost of any unused holiday entitlement is recognised in the period in which the employees’ services are received.

1.5. Fixed Assets

Individual fixed assets costing £2,000 or more are initially recorded at cost.

1.6. Fund accounting

The nature and purpose of each fund is explained in Note 6 to the financial statements.

1.7. Financial instruments

The only financial instruments held by the charity are debtors and creditors. These are categorised as ‘basic’ in accordance with Section 11 of FRS 102 and are initially recognised at transaction price. These are subsequently measured at their transaction price less any impairment.

1.8. Income

Income is recognised when the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. The following specific policies are applied to particular categories of income: Donations and grants are split between restricted and unrestricted funds in accordance with the terms of the grant or donation. Donations and gifts are recognised in the statement of financial activities when receivable. Income from government and other grants is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Donated services and facilities are included at the value to the charity where this can be quantified. Bank interest is recognised on an accrual basis.

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(Charity Reg. No: 1204276) Annual Report and Accounts For the year ended 31st May 2024

1.9. Expenditure

Expenditure is included in the statement of financial activities on an accruals basis, inclusive of any VAT that cannot be recovered. It is recognised when there is a legal or constructive obligation to pay for it. Certain expenditure is directly attributable to specific activities and has been included in those cost categories. Certain other costs, which are attributable to more than one activity, are apportioned across cost categories on the basis of an estimate of the proportion of time spent by staff or resources used on those activities.

1.10. Defined contribution pension scheme

The charity operates a defined contribution scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.

1.11. Leases

Rentals applicable to operating leases are charged to the statement of financial activities over the period they are incurred.

2. Critical judgements and estimates

No critical judgements have been made by management in applying the charity’s accounting policies.

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(Charity Reg. No: 1204276) Annual Report and Accounts For the year ended 31st May 2024

3. Donation & Legacies

Donations & Legacies
Peabody Grant
London Community
Foundation
Wandsworth Borough of
Sanctuary Fund
Good Things Foundation
The National Lottery
Community Fund
Time After Time
Wandsworth Grant Fund
Landsec Futures
Community Grant
Wandsworth Cost of Living
Fund
Taylor Family Foundation
The Contents Bag
GLA Build Stronger
Lightbulb Trust
Rocket Science
Semble Network
Other income & donations
Total Donations		 Restricted
£
-
9,900
10,000
8,600
19,830
21,840
9,995
-
14,585
-
-
-
-
-
-
-
94,750		 Unrestricted
£
5,000
-
-
-
-
-
-
2,000
-
-
-
-
-
-
-
7,674
14,674		 2024
Total
£
5,000
9,900
10,000
8,600
19,830
21,840
9,995
2,000
14,585
-
-
-
-
-
-
7,674
109,424		 2023
Total
£
-
-
-
-
-
-
-
-
-
5,000
600
1,000
15,000
8,996
5,000
2,069
37,665

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(Charity Reg. No: 1204276) Annual Report and Accounts For the year ended 31st May 2024

4. Expenditure on Charitable Activities

Expenditure on Charitable Activities
Restricted
Unrestricted		 2024
Total
£
58,608
12,084
70,692		 2023
Total
£
43,534
11,962
55,497

5. Creditors: amounts due within 1 year

Current Liabilities
NIC Payable
PAYE Payable
Pensions Payable
Student Loan Deductions Payable		 2024
Total
£
3,417
(1,406)
690
537
3,238		 2023
Total
£
668
1114
(968)
358
1,172

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(Charity Reg. No: 1204276) Annual Report and Accounts For the year ended 31st May 2024

6. Purposes of funds

General funds: these are available for use at the Trustees ' discretion in furtherance of the objectives of the charity.

Restricted funds: these are donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

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