Regi$t8red Charity No: 208350 Newham People's Trust Fund Annual Report and Financial Statements for the Year Ended 31" May 2024
Newham People's Trust Fund Contents Pago6 Charity détails Trustees, report Independent examlneffs report Statement of financlal actlvlties Balance sh8et Notes to the financial statements 10-16
Newham People's Trust Fund Charity Details Trustses Rokhsana Fiaz Patricia Holland Joy Laguda Mari8 Gabriel Salim Patel Paul Chelliah Eugene Gllkes Zuber Gulamussen Nlsha Lathlgra Clerk to the Trust London Borough of Newham Prlnclpal offlco Newham Dockside 1000 Dockside Road London E162QU Status The Newham People's Trust Fund is registered In England and Wales as a charity. number 208350.
Newham People's Trust Fund Trustees, report for the year ended 31st May 2024 The trusiees présènt their annual raport and financial ststements of th8 charity for the year ended 31 st May 2024. The financial statements have been prepared in aCCordare wlth the accounting policies set out in note 1 to the accounts and complywith the charlty's trust deed, the Charities Act2011 and Accounting and Reporting by Charities.. Statement of Recommended Pracllce applicable to charities preparing their accounts in accordance with the Financial Reportin9 Standard for Smaller Entitles published on 16107114. Th8 Charity details on page 1 fom part of this report. Structura, governance and management The Trust is registeréd as a charity in England and Wales, number 208350, and 15 administered by th8 London Borough of Newham on behalf of the Trustees. The Trust operated as The Newham Civic Ambassadors Fund rthe Civic Ambassadors Fund.) until 11 February 2009. On 11 February 2009, the Trust was created by the consolidation of the Civic Ambassadors Fund with a number of other charitiés, also administered by the London Borough of N8wham. The Trust is govemed und8r a Scheme of Charity Commission dated 11 February 2009 as amended by a resolution dated 3 August 2009 ("the Scheme of Charity Commission'l. The Trust was known as the Mayor of Newham's Trust Fund from February 2009 until the name was changed to The Newham People's Trust Fund on the 14 September 2011. The Trust is registered under this name with the Charlty Commission. The Trustees are responslbl8 for the strateglc direction and policy of the Trust and. subject to any prudent delegation to advisers and agénts, make all substantlve decislons in relation to th8 Trust. In furtherance of this, the Trustees meet four times a y8ar, with additional rneetings belng called as and wh8n necessary. Under the Scheme of Charlty Commission, the Trust was required to appoint one Ex officlo Trustee, four Nominated Trustees and not mor8 than six Coaopted Trustees. Th8 Trustees are drawn from councillors, Ioc81 businesses and community organisations. Rokhsana Flaz has been appointed as Mayor of Newham, and therefore as Ex officlo Trustee of the Trust. on 7 May 2018. Nominated Trustees must be appointed by the Mayor for a perlod of four years, subject to Ihe temilnation provisions s8t out In the Scheme of Charity Commission. The appointment of a Co-opted Trustee must be made at a speclal meeting of the Trustees.
Newham People's Trust Fund Trustees, report for the year ended 31st May 2024 Trustees Thè Trustees of th8 Trust who servèd during the year and since ihe year end are set out b810w: {appointed 7 May 2018) {appointed 11 Fébruary 2009) (appointed 11 February 2009) (appointed 3 August 2009} (appointèd 21 July 2016) (appointed 29 September 2016) (appointed 29 September 2016) (appointed 29 Septemb8r 20161 Rokhsana Fiaz Patricia Holland Joy Laguda Marie Gabriel Salim Patel Paul Chelllah Eugene Gilkes Zuber Gulamussen Mayor of Newham l Ex offido Trustee Nomlnated Trustée Nominated Trustee Cfyopted Trustee Nominated Trustee Co-opted Trustee Co-opted Trustee Ct>opted Trustee No buslness may be transacted at a m88tlng unless three Trustees are present, one of whom must be a Nominat9d Trustee. The Trustees may appoint a committ8e of not less than two of their number to deal with applications for assistance from the Trust which cannol await the Tru5tees' next meeting. The decisions of such a committe8 must be report8d to the Trustees at thelr n8Xt meeting. Except wtth the prior wrltten approval of th8 Charity Commlssion. no Trustee may r8celve any b8n8fit in mon8y or in kind from the Trust, or have a financial interest In the supply of goods or services to the Trust, or acquir8 or hold any interest In proparty of the Trust. In July 2024 a number of the Trustees resigned with only Rokhsana Fiaz, Patricia Ho118nd and Joy Laguda remaining as Trusteès of the charlty. New Trustees are briefed on their legal obligatlons under charity law, the contént of the Scheme of Charity Commisslon and any amendments made to it, the content of the Trust's lalest annual report and financial statèments, the decision making processes of thè Trust and the Trust'5 future plans and objectives. The Truslees are kept updated on any Ghanges to their obligations and responsibilities. ObJectlvo8 and actlvltles for thé publlc bon•flt Under the Scheme of Charlty Commisslon, the objèct of the Trust Is, for the publlc benefit, to promot8 any charitable purposé for the benefit of resldents of the London Borough of N8wham In such Ghadtabl& ways as the Trustees see fit. The strategy of the Trust to meet its oblect is to provide fln8ncial assistance through its two branches, th8 Educatlon Branch and th8 Rellef Branch, by the making of grants prifflarily to individuals for a range of needs. The Education Branch's objective is to provid8 financial assistance to promote the education of persons under the age of 25 who are resident In the London Borough of N8wham. The Relief Branch's objective is to provide financlal assistance for the relief of per50n5 who are resident in the London Borough of Newham and who are sick, convalescent, disabled, or otherwise in poor mental or physical health, or who have recognised leaming difficultles. The Trustees have paid due regard to the Charity Commission's guidance on public benefit, a5 required by Section 4 of the Charities Act 2006, when r8Vi8wing the objects and strategy of thè TnJst. In particular. the Trustees have considered how planned adiviti8s will contribute to the objectSves of the Trust and Ihat the grants being awarded by the Trust are for Ihe public benefit.
Newham People's Trust Fund Trustees, report for the year ended 31st May 2024 Grant maklng pollcy The decision to grant a request for assistance from the Trust and the amount agreed is at thg discretion of the Truste8s. Resldents of Newham may apply. or a third party (for exampl8 a council offlcer, teacher, social worker or community support worker) may apply on behalf of the resident for a grant. Charlti8s which are registéred in th8 London Borough of Newham may also apply on behalf of indlviduals. Ther8 has been no meeting of the Trustees in 202&24, due to no applicatlons being recefved by the Trust to consider. The maximum amount that the Trustees will consider granting is normally £2,000. The Trustees may decide to provlde assistance in séveral ways.. Maklng grants of money; Providing or paying for goods, servic8s or facilities; or Making grants of money to other people or bodles who provlde goods, s8rvlces or facilities to applicants, bl Grants or bursaries can be given to individuals or the institutions attended by individuals to facilitate further leaming as approved by the Trustees. The Trust does not fund organisations or projects, but applicatlons from individuals or individuals known to organisations resident in N8wham are w8lcomed. The Trust do85 not fund university fees, laptops and computers or provide 8SSiStance with débt clearance. The Trust will not provide assistance in paying rent, gas, electric or any other bill arr8ars. Furthermore, the Trust is not a supplement to benefit paymènts, housing allowances, chlld benefits etc. Financial or other assistance can also be given to assist an applicant's enty Into a profession or trade, or lo assist them to travel abroad lo pursue their education. Provision for any educational institution in Newham of any kind not nomially provided for by the lo¢al authority may under extraordinary circumstances be agreed between the Trustees and the governors of the school conc8rned. Achlevemants and perfomianc• The Trust r8ceived donations totalling £38 during the year (2023.. £361. In addition the Trust generated investment income of £30,000 (2023: £30,000). During 2023124 year the Trust awarded no grants (2022123= £0) as shown in note 6 to the financial statements. Financlal revlew The net movement in funds for the year, as shown in the statement of financial activities on page 9, amounted to a surplus of £29,536 (2023= surplus of £29,536). The value of the Trust's net assets gt 31 May 2024 was £1.656,500 (2023: 1,626.964). Investment policy and performance
Newham People's Trust Fund Trustees, report for the year ended 31st May 2024 The Trustees have set a target rate of return of 2.5°h per annuffl on the Trust's investments. which are managed by th8 London Borough of Newham on behalf of the Trust. Investment income during the year amounted to £30,000 (2023- £30.0001. This equated to an annual average retum of 2.380/0 In the year (2023: 2.389/0}. The Trustees will continue to monitor the performance of the Trust's investments against the target rate of r8tum. Pollcy sLknment on reserves and Golng Concam The unrestricted funds available ftjr axpenditure amounted to a surplus of £19,165 {2022123'. £19,629). Tha funds at 31 May 2024 will be retained to finance the Trust's charitable objècts, to meel ongoing operating expenses and are considéred to be appropriate and acceptable by the Trustees. The Trustees consider the reserve r8qulrements of the restrict8d and endowment funds separately. The Trustees intend to relain investments of £1,257,637 in perpetuity. Investment income eamèd will be allocated to the Rellef Branch and Education Branch restricted funds as 8ppropriate and distributed in accordance wlth the objectiv8s of these branches. £1,257,637 is the target level of reserves that the charity ¢urrenUy wishes to hold. During the year, investment income totalling £30,000 was allocated to the re5tdct8d funds {£22,500 Education Branch, £7,500 Relief Branch} for future dlstribution. At 31 May 2024, the total funds retslned In the restrlcted and endowmenl funds wer8 £1,637.335 (£1,257,637 endowment funds, £379,698 restricted funds). The trustees are aware of the requirement of the Charity Commissloners to r8vlew their policy on reseNes at regular inteNals. The Trust has accumulated funds and does not depend on fundraising actlvltl8s. To malntain the Trustee's position as a going concern the current intention is to maintain minimum cash balances of £10,000 and mlnimum reserve balances of £1,267,637. As at May 2024 these balances were £398,863 and £1,656,500 r8spectlvely. Plans lorfuturo developments The Trustees plan to continue to provide charitable support in accordance wlth its objectlves and strategy.
Newham People's Trust Fund Trustees, report for the year ended 31 St May 2024
Newham People's Trust Fund Trustees, report for the year ended 31st May 2024 ststement of Trustees, responslbilities The Trustees are responsible for preparing the Trustees, Report and the financial statements in accordance wlih applicable law and United Klngdom Accountlng Standards (United Kingdom Generally Accepted Accounting PractiC81. The law applicable to charities in England and Wales requires the Trustèes to prepar8 flnancial statements for each financial year which give 8 trué and fair view of the state of affalrs of the Trust and of the incoming resources and application of resources of the Trust for that period. In preparing these financial statements. the Trustees are required to: Select suitable accountlng policies and then apply them consistently; ObseNe the methcds and prlnclples in the Charlties SORP; Make judgem8nts and estimat95 that are reasonabl8 and prudent; Stat8 whether applicable accounting standards have b88n followed, subject to any material dep8rtures disclosed and explainèd in the financial statements,. and Pr8pare the financial statements on th8 going concern basis unless It Is inappropriat8 to presumg that the Trust will continu8 in business. The Trustees are responsib18 for keeping prop8r accounting records that disclose with reasonable accuracy at any time the financial position of the Trust and 8nable them to ènsure that th8 financial statem8nls comply wlth the Charities Act 1993, as amendad by the Charities Act 2006, the Charity (Accounts and Reports) Regulations 2008 and the provisions of th8 governing d¢xument. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Intomal controls and mltlgatlon of major risks The Trustees have identified and revlewed the major rlsks of the Trust and have establishèd Internal controls to mitigate these risks. The Trustees confirm thal the controls Implemented are appropriate to the size of the Trust and of the nature of its operations. On b•half of the Trnstees Trustee Mayor Rokhsana Fiaz OBE Mayor of Newham 12025 30 May 2025
Newham People's Trust Fund Independent Examiner's report to the Trustees of Newham People's Trust Fund o r t h Independent examlner's report to the trusteos of Newham People's Trust Fund (charity number 208350) I report to th8 trustees on my 8xamin8tlon of the accounts af th8 above charity {'the Trusy,) for the year ended 31 May 2024. Rasponslbllltles and basls of report As the charity's trustees. you are responsible for the preparauon of the accounts In accordance with the requirements of the Charilies Act 2011 ('the Act") I report in respect of My examinallon of the Trust's accounts carrfed out under sectEon 145 of the 2011 Act and in carrying out ffly examination I have followed all ol the applicable Directions given by the Charty Commisslon under section 145{5)(b) of the Act. Independent examlner's statement I have completed rny examination. I confirm that no material rnatters have come to my attents'on In connection with the examination which gives rne cause to believe that In any material respecl". the accounting records were not kept in accordance with section 130 of the Charities Act. or the accounts did not accord with the accounting records; or the accounts dKI not COmY with Ihe applicable requirements conceming the forrn and content of financlal statements set out in the Charities (Accounts and Rèports) Regulations 2008 other than any requirement that Ihe financial statements glve a 'true and f8ir view which is not a matter considered as part of an independent examlnatron. I have come across no oiher matters to whlch, In my oplnion. attention should be drawn in order to enable a proper understanding of Ihe financial statements to b8 reached. Peter Worth, CPFA, MAAT Rallway Cottage, Torvor, Cumbrla LA218BA 13 May 2025
Newham People's Trust Fund Statement of Financial Activities for the year ended 31st May 2024 Sternet of financlal activities for the yeaf end 31 May X124 Unrestiicted Funds Re¥tricted Funds Endowment Funds Total Funds 2023124 Note* Total Fuftds 2022rI3 ome an nts Iro Donations and Leaau8$ othef Trath"na Admties IrNestrnènl and other Income 36 36 Jo.000 30,000 Total InCOB aftd En4lovellts 30,(0 30.036 ndltllf Raising fvnds Charltable ac1185 Govemance Costs Total Exwndlthre Net movement in lund8 1464 30,000 29,530 29.536 Balance at 1 Juno 2023 19,629 349,698 1,257,637 1,626,964 1597828 BalftTrce at 31 May 2024 15 19,165 379,698 1351.637 1,656,51)0 1,626.964 All of the Trust's activities are derived from continuing operatlons. The Trust has no recognlsed gains and losses other than those shown above and theréfore no separate statement of total recognlsed gains and losses has been presented. There is no dlfference between the net income for the year stated above, and its hlstorical cost equival8nt.
Newham People's Trust Fund Balance Sheet at 31st May 2024 Balance Sheet as at 31 May 2024 Notes 2023Q4 2022123 Inv8Stments 10 1,257.637 1,257,637 uirent asse DebtOTS Cash at bank and in hand 398.863 398,863 369,327 369,327 Creditors-. amounts falling duè within one year 12 et current amets 398,863 369,327 Net as88ts 1,656,5(K) 1,626.964 Endowment Restricted Unrestrict8d 14 14 14 1,257.637 379,698 19.165 1251,637 349,698 19,629 Total funds 1,656,51I0 1,626,964 The financial statements on pages 8 to 16 were approved by the Trustees on I signed on their behalf by: l and were Trustee ayor Rokhsana Fiaz OBE Mayor of Newham May 2025 io
Newham People's Trust Fund Notes to the financial statements for the year ended 31st May 2024 Prlnclpal accountlng pollcles The financial statements have been prepared in arKordance with the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in th8 UK and Republic of Ireland {FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicab16 In the United Kingd¢yn and Republic of Ireland {FRS 1021 and the Charities Act 2011 and UK Generally Accepted practi as It applies from 1 January 2015. A summary of the principal accounting polici8s, which have been applied consistently, is set out below. Basls of accountlng The financial statements are pr8pared on th8 golng concem basis and in accordance with the historic cost convgntion as modified by th8 revaluatlon of investments. Income Income Is credited to the statement of flnanclal actlvltles on a receivable basis and valued on dat8 of pledgelrecelpt. Investment incom8 is stated inclusive of recov8rable taxation. Where Incomlng resources have related expendltur8 (as with fundralslng income) the incomlng r8sources and related expenditure are report8d gross In the financial statements. Donated servlce5 and facilities arè included In the sialement of financial 8Ctlvltles in the year in whlch they are receivable, wh8r8 they are quantifiable. and where a third party is bearing the cost. Income received is disclosed in note 14 whlch will detsil whether it is restricted and unrestricted. Expendlturn Llabllltles are recognlsed as resources expended when there is 8 legal or constructive obligatlon committlng the Trust to the expendlture. Grant Payments are recognised In lh8 flnancial stat8ments when payrnents 8re made on behalf of the Trust by the l¢xal authority and these payments can be idenlified and allocated to grant recipients. Expenditure incurred will be disc105ed under the cat8gories of: Costs of generatlng funds, Charltable acllvlt18s and govemance costs. Governance costs include costs associated with meeting the constitutional and 5tstutory requlrements of Ihe Trust.
Newham People's Trust Fund Notes to the financial statements for the year ended 31st May 2024 Princlpal aceountlng policies (contlnuéd) Invèstments Investments ar8 included in thé financial statéments at market value at thé balance sh88t date. Realiséd and unrealised gains and losses ara credited or d8bited to th6 Statement of flnanci81 activities In the year in which they arise. Fund accountlng Th8 unr8Stricted fund comprises 98n8ral funds whl¢h may be used towards meeting the charitable oblectives of the Trust at the discretion of the Trustees. The restricted and expendable endowment funds comprise funds subject to donor imposed conditlons whlch are wlthln the charitable objectives of the Trust. Taxatlon The Trust is a reglstered charlty, and therefore tt Is not liable for Income tax or corporation tax on income d8riv8d from its charitsbl8 aGtlvltie8, as it falls within the various exemptions available to reg15tered chariti8s. VAT is included wlthin expendlture where it is not recoverable. Cash Ilow statement Thè Trust qualifies as a small entity and as a consequence, it is exernpt from th8 réquirement to publish a cash flow statement under Financial Reporting Standard 1 (revised) 'Cash flow staternent" Donatlons and Legacles Unre8irlcted Restrlcted Funqls Funds End0ment Funds Totsl 2021122 Tolal 2021122 Total funds transferred from other charittes Monetsry Donations Donaltons In kn'nd 36 36 36 38 38 36 Other Tradlng Actlvltles No fvndraising activities look plac8 in 2023124. 12
Newham People's Trust Fund Notes to the financial statements for the year ended 31st May 2024 Investment and Other Income Unrestricted Funds Restricted Funds Endowmenl Fllnds ToLIl 2023124 2022123 Interest on cash deposlts Bank interest 30,000 30,() 30,000 30.000 30,000 Investment balance of £1,257,637 is held by LBN on behalf of the Newham People's Trust Fund. Interest is pald at fix amount of £30,000 per year equating to a 2.38% retum. Ral$lng Funds The cost of fundralsing activltles durlng the year was nil. Charltablo Actlvlllas The value of grants distributed durlng the year was as follows: Unrestricted Funds Total 2022123 Funds FUMIS 2023124 Educatton Branch other Relef Branch All other grants distrlbuted durlng the year were to individuals. Governance costs The value of facilities provided by the London Borough Newham such as staff tlrne, office space and the use of offlce equipment has not been recognised in the financial statements of the Trust in 2023124 because the benefit is not easlly quantifiable. Govemance costs of £500 represent the independent examination fee charged by Worth Technical Accounting Solutions Llmitsd. Banklng Arrangements 13
Newham People's Trust Fund Notes to the financial statements for the year ended 31st May 2024 The Trust does not operate its own bank accounts. Monies are held on its behalf by the London Borough of Newham and the Trust receives interest from the Council on these balances, currently al a fixed amount of £30,000 per annum as agreed on 7 July 2009. Key Management Personngl, Staff costs and Trustees. remuneratlon Key management personnel hav8 been identlfied as: Meinlr Hall - Chief Accountant for London Borough of Newham The officer did not receive any rerruneration from the Trust in 2023124 No employees were employed by the Trust during Ihe year12022123: None). Administrative support was provlded by London Borough of Newham Damocratic S8rvice8. The Trustees received no remuneratlon in respect of their services to the Trust during the year12022123.' £nil). No payment or relmbursèm8nt of out of pockét expenses was made to any of the Trustees orto thlrd partles for expenses incurred by the Trustees during the year12022123.' £Nil}. 10 Flxod Asset Invgstments Total 2023124 At 1 Jun8 2023 AddltionslDlsposals 1,257,637 At 31 May 2024 1257,637 All investments present cash held as part of the investment portfollo. 11 Dobtors Total 2022123 Total 2023124 Donations recievable Accrued income 12 Credltors: amounts falllng dug wfthln one year Total 2022123 Totsl 2023124 Grants PayatrAe AccruaL8 14
Newham People's Trust Fund Notes to the financial statements for the year ended 31st May 2024 13 Post Balance Sheat Events There were no events to report. 14 Analysls of funds Incon4ng Resources Rèsources Expended At 1 June 2023 At 31 May 2024 Endowrnnt funds Educatlon Branch Relef Branch 0th8r endownents 964,687 282,950 10,000 964,687 282,950 10,000 1257 637 1257 637 Restrlcted fund8 Education Branch Relief Branch 294,655 55,043 22,500 7,500 317,155 62,543 349 698 30,000 379 698 Unrostrlcted Funds General Funds 19,629 36 500 19,165 1.626,964 30,036 500 1,656,500 Endowment fund8: EdurAtion Branch The Educalion Branch endowment fund was establlshed from funds transferred from other charrtles In accordance wlth th8 Scheme of Charity Commission. Interést eamed on the endowment fund is restricted to providing financial assistance to promot8 the education of persons under the age of 25 who are resident In the London Borough of N8wham. Rellef 8fanch The Relief Branch endowment fund was established from funds transferred from other charities in accordance wlth the Scheme of Charity Commission. Intorest earned on the endowment fund is restricted to providing financial assistance for the rellef of persons who are resident in the London B¢xough of Newham. Other endowments Interest earned on the other endowment fund Is available to fund the actfjvities of th8 Trust. 15
Newham People's Trust Fund Notes to the financial statements for the year ended 31st May 2024 Restrlcted funds: Education Branch The Education Branch restricted fund Includes the reslricled income from the Educatlon Branch endowment fund and may be used to provide financial assistance as noted above. Rallef Branch The Relief Branch restrict8d fund Includas the r8Strictéd income from the Rellef Branch endowment fund and may be used lo provide financial assistance as noted above, 15 Analysls of net ass•ts between funds Unrestricted Fund5 R•stricted Funds Endovrnnt Funds Total 2023124 2022123 Fund balances at 31 May 2024 are iepresented ty. Investments Debtors Cash al bank and in hand Credilor5.' amounts falling due wlthin one year 1.257,637 1.257,637 1.257.&37 19.165 379.698 398.863 369.327 19.166 379,698 1,257.637 1,656.500 1,628,964 16 Reconcillatlon of movement In funds Total 2023124 Total 2022123 onIng funds Net Income for the year 1,626,964 29,536 1.597,428 29,536 CbslTrJ Funds 1656,500 1626 964 17 Rolated party Iran8actlons A number of individuals who served as Trustees during the year were also councillors of the London Borough of Newham. The London Borough of Newham administers the Trust on behalf of the Truslees and manages the Trust's investments. 16