SOUTHALL BLACK SISTERS Charity Registration Number: 1204937 Company Registration Number: 3037955 sourHALL BLACK SISTERS (Company Ilmlted by Kuaranteel REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Southall Black Sisters (A Company Limited by Guarantee and a Registered Charity) SOUTHALL BLACK SISTERS {Company limited by guarantee and a Registered Charity) CONTENTS Page Management committee's report Independent auditorfs report Income and expenditure account io Balance sheet li Statement of Cash Flows 12 Note5 to the linancial statements 13-23 Southall Black Sisters (A Company Limited by Guarantee and a Registered Charity) Management Committee Report For the year ended 31 March 2024 The Management Committee Mernbers present their annual management committee report together with the financial statements for the year ended 31 March 2024 which are also prepared to meet the requirements for a dlrector%' report and accounts for Companies Att purposes. Objectlves and activities The principal objects of the Charitable Company. as set out in the memorandum of association are to relieve women ar>d their children and families, particularlythose of Asian. African and Caribbean origin who are in conditions of need. hardship, danger or distress and to preserve and protect the health and advance the education of such person5. The overall aim of the Charitable Company is to help women and children escape gender related violence and abuse. The Charitable Company achieves this by providing advice. infofmation. advocacy. casework, counselling, and simSlar one-to- one sUPPOrt and by 13mpaigning and providing expert advi￿ and reports to influence policy and practice at local and national level. Public Benefrt The Oirector5 of Southall Black Sisters have read the guidance issued by the Charity Commission for England and Wales on 'Charitie5 and Public Benefiv. The Directo￿ confirm that thè objects of the Charitable Company fully comply with this guidance. Actlvltles Southall Black Sisterfs principal activity during the year ending March 2024 continued to be the provision of frontline services for women and children escaping violence and abuse. The Charitable CompanV5 principal artivity during the year continued to be the provision of frontline services for wornen and children escaping violence and abuse. rts work speci3lise5 in domestic violence and the needs of black. migrant and minority women. It is nationally recognised by professionals. researchers, the media and social policy makers for expert reports or consultations. From l April 2023 to 31 March 2024. SBS received 5.472 queries from service users and professionals across the UK through OLJr helpline. Ca11ers to the helpline receive advice and information, as well as signposting and referrals to local services that are appropriate for their needs if their needs do not fall wthin the scope of SBS services. During the same period, 706 black. minoritlsed and rnigrant women received support with gender-ba5ed violence (domestic abuse and other forms of cultUTal harm, such as forced marriage). In addition. counselling sessions were given to 100 women. The majority of these cases had interconnected issues such as immigration with 'no recourse to public funding. INRPFI. ment31 health, hornelessness, suicide. and self-harm. In addltion to the direct caseworkerfs work with women, our support group has organised services and activities for up to 182 women and their children. Women and children have participated in a variety of workshops, including a film-making workshop hosted by the University of East Anglia. 3 12-week art 3nd horticultural course at Kew Gardens, a 12-week art workshop open to both children and adults, and a creative long-term19-monthl dance project for adults. Women and their children in the support Éroup also vi51ted the London Zoo. the theatre. and the cinema several times, as well as trips to Brighton. B0urnemo￿h, and Gl3sgow. We also provide weekly ESOL classes. S8S's work continues to take place within the contexi of the hostile environment, institutional racism and the cost-of-living crisis. Attacks on migrants continue to take place almost daily. wtth anti-migrant rhetoric growng in the lead up to a General Southall Black Sisters (A Company Limited by Guarantee and a Registered Charity) Election. Our service user5 in the asylum system have been greatly distressed by plans to deport asylum seekers who have entered the UK 'illegèlly" to Rwanda, making it necessary for us to campaign. There continues to be 3 lack of accountability and acceptance of the findings tsf the Casey Report met. 5 5SiteAss*ts media downloads met about-us barone55-case -review dat&-march barono>s-case r￿View-m8rch-2O23I which found the Metropolitan Police to be Institutionally racist, sexist, misogynistic, and homophobic. There is a significant demand for SBS'S input into policing reform, with our attendance and input consistèntly requested at VAWG stakeholder groups organised by policing forums, including those org3nised by th& Met Police, NPCC, IOPC and others. Isee.. We are having to strike a tarÈful balance between collaborating with the government and challenging official policies through campaigning and legal action. The government's failure to implement a full firewall to prevent data sharing between the police and Immigration Enforcement continues to pose challenges lor vulnerable victim-survivors, a5 does their resistance to reformin8 policies around the No Recourse to Public Funds INRPFI ctsndition. S8S' work continue5 to be highly regarded, with prominent parliamentarians, including Sarah Champion MP, Baroness Lister and the then Minister of State at the Ministry of Justice Edward Argar commending SBS'S decades of work sUPPOrting migr3nt victim-survivors. Plan5 for future periods Southall Black Sisters remains ctrmmitted to it5 overarching aim.- to challenge all forms of gender-related violence against women and girls. empower them to rebLJild their lives, and uphold their human rights to justice, equality and freedom. Th8 organisation's priorities for the coming year are firmly rooted in our strategic objectives for 2025-2030. This ensures our work 15 forward-thinking, impactful, and responsive to immediate challenges. Over the next year, SBS will: Enhance advotacy services, counselling pathways, and emergency support for Black. minoritised. and migrant women. with a particular focus on those with No Recourse to Public Funds. > Campaign to address institutional ratism and advocate lor systemic policy reforms to improve responses to violencè against women and girls. Strengthèn financial sustainability and operational capacity to continue delivering cutting-edge services. Invest in workforce development to ensure our staff ar& equipped to deliver high-quality, culturally inforrned, survivor-centered support. Engage with communities to raise awareness of VAWG. challenge harmful cultural practices, and foster solidarrty around the rights and needs of Black, minoritised, and mi£rant women. Use research and evidence to inform advocacy, improve service delivery, and shape public discourse on VAWG. These activities reflect SBS'S commitment to ensuring the immediate and long-term needs of Black. minoritised women and girls arè mèt within a frèmework of jtjstice, equality, and empowermeni. Financial review In order to undertake these activities Southall Black Sisters raised a total of £3,601,23312023- £3,296,303) in grant aid, and £78,76412023 £82,281) of income from other activitleS a5 set out on pa8e 10. The unrestricted surplus for the year was £56,98312023- £11.2001. At 31 March 2024 Southall Black Sisters had £1,150.08412023.. EI,093.1011 in unrestricted funds. Desi8nations are shown in note 9. In addition, Southall Black Sisters held £413.91712023.. £448,502) in restricted funds held for programmes. Southall Black Sisters (A Company Limited by Guarantee and a Registered Charity) In line with our colltinued development. SBS achieved charitable status in September 2023, which marks a signific3rit milestone in strengthening our governance and transparency. This new status enables 58S to benefit frotn tax eKemptions, increased fundraising opportunities. arbd more formaliied structure for financial accountability, furthèr enhancing our abilitv to sustain and grow our 5ervice5. Reserves Policy The Board of Trustees is commTtted to maintaining an adequate. justrfied and reasonable level of reserves in line with Guidance from the Charity Commission. In detemiining the lèvel of reserves held by the Charitsble Company. the following fartors have been taken into account.. our strategic goals and risks,. financial strategy and sustainability; liquidity management.. commitment to staff and other contractual obligations.. needs of serv¢ces and beneficiaries This level of reserves is to protect the Charitable Company from having to make quick structural changes arising from the sudden Ios5 of income, for example when contacts are not renewed or other unforeseen circumstances, to enable the Charitable Company to operate during unexpetted periods of financial difficulty. It is the Board of Trustees's aim to hold a reserve fund of £511.rm which is equivalent to 3 months operating costs (excluding consortium payments). un￿strirted reserve designations are shown in note 9 and the purpose of fund5 and timin8 of expenditure in note 10. Risk Management The Board of Trustees is committed to identifying and mana8in8 Potential risks that face Southall Black 5i5ter5. With overall responsibility for the management of risk, this is an essential part of the Charitable Companies effective governance. The mosi significant risk would be the loss of funding from the Home O￿lte or MOPAC. Southall Black Sisters reduces and mitigates thi5 risk by remaining competitive in terms of quality of services, performance monitoring and maintaining good relationships with our funders. Strategic and business plans are also in place to support Southall Black Sisters to Èenerate diversified income streams. with a well-balanced funding portfolio to continue a stable financial future. Sources of funding to include grant funding, corporate sponsorships, indNidual donation5 and earned income by our specialised staff. A five-year financial plan has been developed to understand and track key timings when funding agreements are ending, to ensure that replacement fLJnding is applied for well in advance of programme end dates. Internal risk5 are mrnimised by regular meetings by the Management Committee to review budgets, management accounts and forecasts and fundinE strategies in place. Structure, governance and management The Charbtable Company was founded on March 27, 1995, as a limited by guarantee company with no share capital Inumber 30379551. The memorandum and articles of association incorporated 27 Mar 1995 now adopted by special resolution dated 28 Nov 2022, a5 amended by special resolution on 21 Sep 2023. govern the Charitable Company Southall Black Sisters (A Company Limited by Guarantee and a Registered Charity) All members of the Management Committee are Charitsble Company members who bgree to contribute an amount not exceeding £1 to the business's assets if it is wound up. At the end of March 2024, there were 6 members. In September 2023. the Charitable Company achieved charttèble 5tatU5. Since that time, one member of the Management Committee left in December 2023. and two new mer¥bbers have joined.. Savin Bapir-Tardy and Anitha Sundari. Members of the Management Committee serve on the Charitable Company management committee and have no beneficial interest in the Charitable Company. The management committee meets on a regular basis to make policy dècision5 and to analyse the Charitable Companws progres5 3ga¢nst its plans. The day to day running of the Charitable Company is delegated to the key management team who are sUPPOrted by a team of stBff and report to the Management Committee. Reference and udministr(rtive details." Registered office and principal operating èddres5= 21 Avenue Road. Southall. Middlesex, UBI 38L Monugement Commlttee The following served as members throuEhovt the year and up to the date of thi5 report: R Gupta- Chaii 5 Sharma- Secretary M Inam S Dhaliwal C Nagarajan (Resigned as an MC member in December 20231 Savin Bapir-Tardy Iloined as an MC member in September 20231 Anitha Sundari (Joined as an MC member in February 20241 Management Commlttee Members are also Trustees and Directors of the Charrtable Companv. Key Management Executive Director Selma Taha Jenni Pearlman Development31/Finance Manager Operations and Finance Manager Francesca Favia Auditors Myers Clark, Egale 1, 80 St Albans Road. Watford. Herttordshire, WD17 IDL Bankers HSBC, 2, Station Road, Hayes. Middlesex. UB3 4BY. Charity Regirtration Number.. Compony Regi5tmtion Number 1204937 3037955 Management Committee responsibilities in respect of the financial statements The Cornmittee Members, who serve as the Management Committee under company law and as trustees under charity Saw, are responsible for preparing the Annual Report and the financial statements in accordance with applicable law, the Charities Act 2011, the Companies Att 2006. and United Kingdom Generally Accepted Accounting Practice IUK GAAPI. Southall Black Sisters (A Company Limited by Guarantee and a Registered Charity) Under company and charity law. the Management Committee Members are required to preparefinancial statements for each financial year that give a true and fair view of the state of affairs of the charity and of the income and expenditure for that period. In preparing these financial statements. the Management Committee Menbers rnust.. select suitable accounting policies and then apply them consistently. make judgements and estimates that are reasonable and prudent.. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charitable Company will continue in business. The Management Ctsmmittee membe￿ a￿ responsible for Maintaining proper 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 2CXJ6, the Charities Act 2011. and the char￿S g¢)verning documents. 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. Additionally. the Management Committee Members are required to ensurè that the charity rneets its legal obligations as a registered charity and operates in accordance with its charitable objectives. Statement of disclosure of information to auditors So far as each pèr50n who was a director at the date of appn)val of thi5 report is aware, there is no ￿levant audit information of which the Charitable Company'5 auditor is unaware. Additionally, the management committee individuallv have taken all the n&cessary steps that they ought to have taken as mana8ement committee in order to make themselves aware of all relevant audit information and to establish that the Charitable Companvs auditor is aware of that information. Auditor In accordance with section 485 of the Companies Act 2006 a resolution proposing that Myers Clark be re-appointed will be put to a General Meeting. Small company special provisions The report of the management committee ha5 been Prepared in accordance with the special provisions applicable to entities entitled to the small companies, exemption under the Companies Att 2￿6. A5 Z Tegi5tered charity, the report has also been prepared to Fneet the requirementsof the Charities Act 2011 and the Chèrities Staternent of Recommended Practice1SORPI. wherè applicable This report was approved and authorised for issue by the Management Commtttee on 20 December 2024 and siBned on its behalf by.. STaha Executive Director Southall Black Sisters (A Company Limited by Guarantee and a Registered Charity) Independent Auditors. Report to the members of Southall Black Sisters For the year ended 31 March 2024 Opinion We have audited the financial statements of Southall Black Sisters Ithe'charitable companv) for the year ended 31 March 2024 which comprise the staternent of financial activsties (incorporating an income and expenditure account), the balance sheet, the tashflow statement, and notes to the financial statements. including a summary of significant accounting policies. The financial reporting framework that ha5 been applied in their preparation is applicable law and United Kingdom Accounting Standards. including the Finarscial Reporting Standard 102 Yhe Financial Reporting Standard 3pplicable in the UK and Republic of Ireland. Iunited Kingdom Generally Accepted Accounting Practi￿1. In our opinion. the financial Statements: give a true and fair wew of the State of the Charitable Compan￿$ affairs as at 31 March 2024 and of its incomin8 resources and application of resources, for the year then ended- have been properly prepared in accordance with United Kingdom Generally Accèpted Accounting Practice,. have been prepared in accordan￿ with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standaids on Auditing IUKI IISAS IUKI and applicable law. Our responsibilities under those standards are further described in the Auditors responsibilitiesfor the oudit of rhefinonciol stotements séction of our report. We are irsdependent of the Charitable Company in accordance with the ethicèl requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard arnd we have fullilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evEdence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements. we have concluded that the manaeement committee's use of the going concern basis of accounting in ihe preparation of the financial statements is appropriate. Based on the work we have performed. we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast Significant doubt on the Charitable Company's ability to continue as a 80in8 concern for a period of at leèst 12 month5 from when the financial statements are auth0ri5ed for issue. Our respon5ibilitie5 and the responsibilities of the management comrnittee with respect to going concem are described in the relevant sections of this report. Other inlormation The other information comprises the irbformation included in the management commtttee annual report, other than the financial statements and our auditorfs report thereon. The management committee are responsible for the other information contained within the annual report. Our opinion on thè fin3nci31 staternents does not cover the other information and we do not express any form of assur3nce conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other inforn7ation and, in doing so, considèr whether the other information is materially inconsistent wtth the financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are Tequired to determine whether this gives rise to a material misstatement in the financial statements themselves or a material misstatemer*t of the other information. If, based on the work we have Southall Black Sisters (A Company Limited by Guarantee and a Registered Charity) performed. we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Art 2006 In our opinion, based on the work urbdertaken in the course of the audit= the information given in the management tommittee report, which includes the directors, report prepared for the purposes of company13w. for the financial year for which the financial statements are prepared is consistent with the financial statÈments- and the directors. report included within the management commtttee report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understandin8 of the Charitable Company and its environment obtained in the course of the audit. we have not identified material misstatements in the directors, report included within the management comrnittee report. We have nothing to report in respect of the following matters in relation to which the Companies Act 21X)6 and Charities (Accounts ènd Reports) Re8u13tions 2￿8 require us to report to you if. in our opinion: sufficient accounting record5 have not been kept, or returns adequate for our audit have not been received from branches not visited by us- or the financial statements are not in agreement with the accounting record5 and ￿tUrn$- or certain disclosures of management committee remuneration specified by law are not made.. or we have not received all the information and explanations we require for our audit.. or the management committee were not entitled to prepare the financial statements in accordan￿ with the small companies regime and take advantage of the small companies, exemptions in preparing thè management committee report and from the requirement to prepare a strategic report. Responsibilities of management committee As explained more fully in the management committee responsibilities statement set out on page 4, the management committee are responsible for the preparation of the financial statements and for betng satisfied that they give a true and fair view, and lor such internal control 35 the management committee determine is necessary to enable the preparation of financial statements that are free from material misststement. whether due to Iraud or Èrror. In preparing the financial statements. the management tommittee are responsible for assessing the charitable companvs ability to continue as a going concern, disclosin8, as applicable, matters related to going concern and usin8 the going concern basis of accounting unless the management committee either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Auditorfs responsibilitles for the audit of the financial statements We have been appointed as auditor under section 144 of the Charittè5 Act 2011 and report in accordance with the Act and relevant regulation made or having effett thereundèr. Our objectives are to obtair5 reasonable assurance abotrt whether the financial statements as a whole are free from material mi5Statement, whether due to fraud or error. and to ￿sue an audit0￿S report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit condurted in accordance with ISAS IUKI will Southall Black Sisters (A Company Limited by Guarantee and a Registered Charity) always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be experted to inlluence the economic decisions of users taken on the basi5 of these financial statements. The extent to which our procedures are capable of detecting irregularities. is detailed below. The extent to which the audit was considered capable of detecting irregularitie5 including fraud In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non- cornpliance with laws and regulations, we considered the following- The nature of the industry and sertor. control environment and business performance including the design of the remuneration policies, key drivers for trustee remuneration, bonus levels and performance targets.. results of our enquiries of Management about their own identification and assessment of the risks of irregularities,. any matters we idèntified having obtained and review the tharitable company's documentation of their policies and procedures relating to- identifying, evaluating and complying with laws and regulation and whether they were aware of any instance5 of non-compllance.. 2. detecting and responding to the risks of fraud and whetherthey have knowledge of any actual. suspected or alleged fraud,. thè internal controls established to mitigate risks of fraud or non-complian￿ with laws and regulations,. the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. As a result of these procedures. we conshdered the opportunities and intentTves that may exist within the organisation for fraud. In common with all audits under ISAS IUKI. we are also required to perform specific procedures to respond to th risk of management override. We also obtained an understanding of the leg313nd regul3tory frameworks that the charitable company operate5 in. focusing on provisions of those lèws and regulations that had a direct effect on the determirnation of rnaterial amounts and disclosures in the financial statements. The key laws and regulations we considefed in thi5 context included the UK Companies Act. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financi31 statements but compliance with which nay be fvndamental to the companws ability to operate or to avoid a material penalty. These inc5uded the Employment13W. Audit response to risks identified To addres5 the risk of fraud through management bias and override of controls, we.. performed analytical procedures to identify any unLtsual or unexperted relationship5; tested journal entries to identtfy unusual transactions; assessed whether judgements and assurnptior15 made in determining the accounting estimates were indicative of potential bias- and investigated the rationale behind significant or unusual trAnsaction5. In response to the risk of irregularities and non-cornpliance with laws and regulations. we designed procedures which included. but were not limited to= agreeing financial statement disclosures to underlying supporting documentation- Southall Black Sisters (A Company Limited by Guarantee and a Registered Charity) reading the minutes of meetings of those charged with governance- and enquiring of management as to actual and potential litigation and claims. There are inherent limitations in our audit procedure5 described above. The more removed that laws and regulations are from financial trarnsaction5. the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedure5 required to identify non Net current a55ets 1524.324 IA89,241 Total 355ets l564.￿)1 1.541,603 Restritted funds 413917 448.S02 Unrestrlcted fvnds Designated lunds General funds IA)63,905 86.179 1.010.576 82525 1,150.084 1,093,101 Total fvnds 1.564.TrJi 1.541.603 The Charitable Company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024. although an audit has been carried out under sertion 144 of the Charities Act 2011 The menbeTS have not reqLJired the Charitable Company to obtain an audit of its financial statements underthè requirements of the Companies Act 2006, for the year in questions in accordance with sèttion 476. These financial statements have been prepared in accordance with the prowsions applicable to companies subjett to thè Small companies, regime. The financi31 statement5 were approved by the Management Committee and authorised for issue on 20 December 2024 and signed on its behalf by: S Taha Director Charty Registration Number: 1204937- Company registration no- 3037955 The notes on pages 13 to 23 form part of these financial statements. Southall Black Sisters Statemenl of Cash Flows As at 31 March 2024 Note 2024 2023 Cash flows from operating artivities Net cash income 22,398 10,742 Adjustments to cash flows from nonvcash items Depreciation of tangible fixed assets Depreciation of intangible fixed assets InvestFnent income 6a 6b 16,694 5,750 127,6461 17.196 13,685 4,313 14.9411 23,799 Working capital adjustments Increase / Idecreasel in debtors Decrease in creditors Decrease lincreasel in deferred income Net cash flow from operating activities 1456,3991 1251,3851 1395.3081 11.085.896) 1,245.874 1234.6451 122.653 1,157,681 Cash flow5 from investing activities Investment income Purchase of tangible fixed assets Purchase of intangible fixed assets Net cash flows from Investing artivitie5 27,646 19.7581 4.941 18,8361 123,0001 126,8951 6a 6b 17,888 Net decrease I Increase in cash or cash equivalents {1,068.008) 1.130,786 Cash or cash equiv31ents at l April 2,047,026 916,240 Cash or cash equivalents at 31 March 979,018 2,047.026 All of the cash flows are derived from continuing operations during the above two periods The notes on pages 13 to 23 fofm part of these financial statements. 12 Southall Black Sisters Notes to the financial statements For the ear ended 31 March 2024 Accounting pdicies Company Infomiation Southall Black Sisters is a prNate Charitable Company, limited by guarantee incorporated in England and Walès. The registered office is 21 Avenue Road, Southall, Middlesex. UB213BL. Atcounting convention The financial statements have been prepared in accordance with the Charitable Compan(5 governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice 3pplicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland ISORP FRS 1021 (effective I january 20191. The disclosure requirements of section IA of FRS102 have been applied other than where additional disc105ure is required to show a true and fair view. The Charitable Company 15 a public benefit entity 35 defined by FRS102. Accordingly, the accounts formats identify income, expenditure and reserves by fund. The principal accounting policies are set out below. Critical accounting estimatÈs and judgement In the application of the Charitable Company's accounting policies, the Board of Directors 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 based on historical experience and other fartors that are considered to be relevant. Actual results may differ from these estimates. The estimatès and under￿Ing assumptions are reviewed on an ongoing ba515. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Going concÈm The management committee believe that the Charitable Company has adequate resources to continue in operation for the foreseeable future. Forecasts have been prepared for the year ahead and funding has been Secured for projects to which the Charitable Company is committed. The finantial position is subject to regular review and for this reason the Management committee continue to adopt the going concern basis in preparing the financial statements Income recognition Income is recognised when the Charitable Company has entitlement. receipt is probable and the income is measurable. Grants are accounted for on 3 receN3ble basis when the Charitable Company has been informed of the award by the donor and ¢onditions for receipt have been met. Grants received are only deferred if they relate exclusively to future accounting periods. Donations are accounted for when received. All other income is accounted for on a receivable basis. 13 Southall Black Sisters Notes to the financial statements For the ear ended 31 March 2024 Expenditure rKognition Expenditure is recognised when there is a legal or con5truttive obligation committing the Charitable Company to that expendtture, it is probable that settlement will be required and the amount of the obligation can be measured. Allocation of costs Direct ¢05t5, which comprise costs that relate directty to the delivery of the attivities. are allocated to the specific activity to which they relate. Where direct costs relate to more than one activity they are apportioned. Salaries are apportioned based on the time spent on each artivity and other costs on the economic benefit derived by each artivity. Premises and administration costs that facilitate the artivities but do not change as 3 result of the activities undertaken, are apportioned acr055 activities based on the economic benefit derived by each artivity. Support costs include costs incurred to meet statutory and legal requirements. Fund accounting General funds are unrestrirted funds which are available for use at the discretion of the Management Committee in furtherance of the general objects of the Charitable Cofflpany and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Management Committee for particular purposes. The aim and use of each designated fund is set out in the note5 to the financial 5tatement5. Restrirted funds comprise funds received for specific purposes as determined by the donor. 1.8a Tangible fixed assèts Equipment and furniture c05ting over £1.500 are capitalised. Tangible fixed a55ets are initially measured at cost and subsequently measured at cost. net of depreciation. Depreciation is recognised so as to write off cost. less residual value. over their estimated useful lives on the following bases= Equipment & Furniture Leasehold improvements 4 years. 20 years 1.8b Intangible fixed assets Computer software are capitalised when dirert expenditure enhances or extends the performance of the software beyond its specifications and can be reliably measured as 3 capital improvement. These costs are amortised using a straight-line method over the estimated useful live5 of four years. Cash and cash equlvalents Cash at bank and in hand are basic financial assets and include tash in hand, deposits held at ca15 with banks, other short-term liquid investments with original maturitie5 of three months or less. i.io Flnancial Instruments The Charitable Company has elected to applythe provisions of Section 11 'Basic Financial Instruments, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Charitable Company's balance sheet when the Charitable Company becomes party to the contractual provisions of the instrument. 14 Southall Black Sisters Notes to the financial statements For the year ended 31 March 2024 Ba5icfinancial assets Basic financial asset5, which include debtors and cash and bank balance5. are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unle55 the arrangement constitutes a financing transaction, where the transaction 15 measured at the present value of the future receipt5 discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 8oslcfinanciallit7bilities 8asic financial liabilities, which comprise creditors are initially ￿COgnised at transaction price unless the arrangement constitutes a financing transaction. where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified a5 payable within one year are not amortised. i.ii Operating leases Rentals paid under operating leases are charged to the rtatèmènt of financial activitie5 in equal annual instalments over the period of the lease. Grants re¢elvable 2024 2023 National and local govemment Asian Women's Resource CentrelLondon Councils Asian Women's Resource CentrelLondon Mayor'5 Office Foreign and Home Office London 8orouBh of Ealing Solace Women's AidlLondon Mayor's Office Women and Gir15 Network/London Councils Women and Girls NetworklLondon Mayor's Office London Mayor's Office 15.615 15,615 35,267 1,673,400 109,000 23,943 35,267 1,437,717 90,000 59,963 52,350 1,033,623 58,982 52,3SO 1.058,283 Trusts and foundations Southall Black Sister5 Trust 127,827 266.561 Charity Projects (Comic Reliefj Coutts Charitable Foundation 210,740 44,000 Esme Fairbairn Foijndation 82,731 89,701 Quadrature 277,601 Other Donors who wish to remain anonymous 27,C￿0 20,000 3,601,233 3,296,303 15 Southall Black Sisters Notes to the financial statements For the year ended 31 March 2024 Analysis of Staff Costs. trustee remuneration and expense5 2024 2023 Staffing costs Wages and salaries Social security cost5 Pension Contracted staff Advertising. training and other 778,087 77,513 30,907 99,608 28,232 570.161 61,123 9,624 163,981 14.234 1,014,347 819,123 No employees earning more than £60,(KM) lexcluding employerfs National Insurante and employer pension cost5 but including any other beneftt51 The ￿muneratIon of key management compri5rng gr055 salary and employers Nl and pension was £105.066 and contracted staff cost5 £32,71912023: £86.7381. Employees The average monthly number of persons lincluding management committee) employed by the Charitable Company during the year based on head count wa5 2312023- 181. No trustees, nor any persons connected wf(h them, have received any remuneration from the Charitable Company during thè year. Net incomellexpenditurel for the year 2024 2023 This is stated after charging.. Depreciation of owned fixèd assets Operating lease rentals- property Key Management Remuneration Auditors, remuneration (excluding VAT) 22.444 17,998 36,000 84,674 13,200 137,785 11,242 Taxation Corporation tax is payable on bank interest receivable. The entity obtained charttable status on 26 September 2023. The Charitable Company is exempt for corporation tax on all of its income. from this date, that has been applied for charf(able purpose5. 16 Southall Black Sisters Notes to the financial ststements For the year ended 31 March 2024 6a. Tangible fixed assets Leasehold Improvements Equipment & Fumiture Total Cost At l April 2023 Addition5 Disposals 26,248 97,195 9,759 123,443 9,759 At 31 March 2024 26,248 106.954 133,202 Depre¢latloft At l April 2023 Charge for the year Eliminated on disposals 24,929 1.319 64.840 15,375 89,769 16,694 At 31 March 2024 26,248 80.215 106,463 Net book value At 31 March 2023 At 31 March 2024 1.319 32,355 26.739 33,S74 26.739 6b. Intangible fixed assets Intangible Fixed Assets Total Cost At l April 2023 Additions Disposals 23.C4JO 23,(X)O At 31 March 2024 23.0(M) 23.0 Depreciation At l April 2023 Charge for the year Eliminated on disposals 4,312 5,750 4.312 5,750 At 31 Mareh 2024 10,062 10,062 Net book Value At 31 March 2023 18.688 18,688 At 31 March 2024 12,938 12.938 17 Southall Black Sisters Notes to the financial 5tstements For the ear ended 31 March 2024 Oebtors 2024 2023 Other debtors 475,367 18,469 Prepayments Accrued income 13,659 735,568 16,363 733,363 1,224,594 768.195 Creditors: amounts falling due within one year 2024 2023 Taxation and social seeurity costs Accrued expen5e5 Other creditors 22,309 245.142 402,841 8,996 679.288 16,768 829.477 75,431 404,304 1.325.980 Deferred Income 18 Southall Black Sisters Notes to the financial Statements For the year ended 31 March 2024 Funds Movement Current Year Brought Forward Incoming Resources Resources Carrled Expended Transfers Forward General funds 82.526 462.096 1382.6691 175,7741 86,179 Designated funds Prernises Development Advocacy and HR Review NRPF Continuity Fund Fixed Asset Fund 190.020 190,020 95.8(Kl 227.223 52.362 95,800 227,223 39,677 237,733 273,452 122.4441 9,759 20,895 45.120 Di5501ution contingency: 3 months wages Dissolution contingency= running cost5 216,838 228,332 Total Deslgnated fvnds 1.010.575 122,4441 75,774 1,063.90S TOTALUNREsfRicfED FUNDS 1,093.101 462.0% {405,1131 1,150,084 Restricted fvnds No Recourse to Public Funds 165.650 2,956,726 12,991.3111 131,065 31.617 49,200 35,878 41,076 Mental Health 31.617 Harmful Practice5 49,21KI 35.878 41.076 75.882 185.293 175.8821 1185,2931 Violence agatnst Women and Girls Capacity Building Covid Response 125,081 125,081 TOTAL RESTRICTED FUNDS 448.501 3,Z17.901 {3.2S2A861 413.917 TOTAL FUNDS 1.541.603 3.679.997 13.657.599> 1.564,001 19 Southall Black Sisters Notes to the financial statements For the year ended 31 March 2024 9 Funds Movement Icontlnuedl Prlor Year Brought Incoming Resources Carried Forward Resource5 Expended Transfers Forward Gèneral funds 63.244 148,680 145.6451 183.7531 82,526 DesSgnated funds Premises Development 190.020 190.020 Advocacy ar¢d HR Revrew ITFund Iw.o 14,2001 95,800 Employee Fund NRPF Continuity Fund 227,223 227.223 Fixed Asset Fund 38.524 117,9991 31,836 52,362 Dissolution contingency.. 3 month5 wages Dissolution contingency.. runnsng costs 164.064 52.774 216,838 198.825 29,507 228,332 Staff Bonuses due to cost of INing Inc￿3$e$ Icn,000 180.7181 119,2821 Totsl Designated funds 1.018.657 1102.9171 94,835 1.010,575 TOTAL UNRE￿R1￿ED FUNDS 1.081.901 1148.5621 11.082 1,093.101 Restritted funds No Recourse to Public Funds 165.750 2,735,132 12.735.232) 165,650 Mental Health 31.617 31,617 Hèrmful Practices 49.200 95,882 195,8821 1308,9791 49,200 Violence against Women and Girls IT 36.236 308,621 35,878 61,410 150,3281 111.0821 Capacity Buildin8 Covid Response 41,076 41.076 125.081 28,859 128,8591 125,081 TOTAL RESTRICTED FU14DS 448.960 3229,904 13,2192801 111.0821 448.502 20 Southall Black Sisters Notes to the financial statements For the year ended 31 March 2024 TOTAL FUNDS I.530￿1 3.378,584 I3.367￿1) 1.541.603 io. Purpose of fund5 The Premises Development Fund represents amounts set aside to redesign. or possibly expand, the current office space: upgrade the sècurity systems and meet maintenance and redecoratloll C05t commitments as set out in the property lease. The Advocacy and HR Review Fund represents amount put 35ide to review how the organisation delivers service5, and implement any recommendations that arise from this review. The NRPF Continuity Fund replaces the Employeè Fund and the NRPF Fund and represents amounts Set aside to meet commitments under No Recourse to Public Funds progr3mmes. The fund is Intended to cover the dirert costs. salaries and related support costs needed to maintain service5 in the event that current funding ceases and cannot be immediately replaced. The Fixed knet Fund rep￿Sents funds tied up in Fixed Assets and equates to the net book value of assets purchased. The Di5501ution Contingencies represent the provision set aside to cover redundancy and running costs in the event of losing a big funder. The Restricted funds represent funds received for projects that are not coterminous with the Charitable Company's year-end. These funds will be spent in future years for the purposes given. 11. Analysls of net assets between funds Current Year Restricted Unrestrictèd Total Fixed assets Net Current Asset5 39.677 1.110,407 39,677 1,524,324 413,917 413,917 1,150.084 1,564,001 Prior Year Restrirted Unrestrirted Total Fixed assets 52,362 52,362 Net Current As5et5 448.502 1.040,739 1,489,241 448502 1,093,101 1.541.603 21 Southall Black Sister5 Notes to the financial ststements For the year ended 31 Marth 2024 12. other financial commitments The Charities commttment under non-cancellable operating leases for rent of their premi5e5 payable was finalised as at 31 March 2023. 2024 2023 Within one year Within two to five years 33,fX)O 33,000 13. Related organisation Southall Black Sisters Trust IS 3 registered charity established to provide Tel￿f to women and their children and families, particularly those of Asian. African and Caribbean origin. residing primarily in the West London area, who are in conditions of need, hardship, danger or distress and to presetve and protert the health and advance of such persons. Southall Black Sisters can apply for grants from the SBS Trust in the Same way as Other organisations. During the year, the Trust awarded Southall Black Sisters grants for specific purposes of Nil12023.. £127,828) and donated £3,76312023: £4.5191 to general funds. At 31 March 2024, the following balances owed to SBS by SBS Trust are included in debtors.. 2024 2023 Grants 127,828 4,519 2,500 Donations 3.763 1.500 Costs incurred on behalf of the Trust 5,263 134.847 At 31 March 2024, the following balances owed by SBS to SBS Trust are included in creditors.. 2024 2023 Rent 36,￿0 12.553 Grants repayable 48,553 22 Southall Black Sisters Notes lo the financial 5tstements For the year ended 31 March 2024 14. Control In the opinion tsf the management committee, there is no ultimate tontrolling party. 15. Local Government and Housing Act 1989 The Charitable Company received a total of £109.00012023.. £90,000) from Local Authorities. In accDrdance with subsection 37141 of the Local Government and Housing Act 1989, all grants have been fully utilised in accordance with the terms under which they were originally granted and have been expended on revenue items in the normal course of the Charitable Compan￿5 activitie5. 16. Events after the reporting period SBS Trust transferred the freehold of 21 Avenue Road. Southall to Southall Black Sisters Limited on 2 July 2024. 23