Docusiun Env&lopÈ ID." 56AD8CE&BFOE4A01-95C(kF0820DFC8583
WHITECHAPEL MISSION
Annual Report 2023
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## **CONTENTS**
- 2 **Trustees Report** 2 **Structure, Governance and Management** 3 **Financial Review**
- 5 **Public Benefit**
- 5 **Objects of the Whitechapel Mission**
- 5 **Activities**
- 6 **Achievements and Performance**
- 7 **Plans for the future**
- 7 **Fundraising**
- 8 **Reserve Policy and going concern Statement** 8 **Risk Management**
- 9 **Trustees’ responsibility to the Financial Statements** 11 **Mission Statement**
- 12 **Director’s comments**
- 13 **Volunteers** 16 **Services**
- 17 **Team Members** 18 **Thank you**
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## **REPORT OF THE TRUSTEES**
## for the year ended 31st October 2023
The Trustees present their report along with the financial statements of the charity for the year ended 31st October 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Mission's Trust Deed, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice” applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued in October 2019.
## **STRUCTURE, GOVERNANCE and MANAGEMENT**
The Whitechapel Mission is a Local Church under the Model Trusts established under the Methodist Church Act 1976 (the Trusts) and constitutes an unincorporated charity.
Trustee vacancies are advertised to the members, supporters and friends of the Mission, and more widely. In accordance with the Trusts, the Trustees are appointed by the members of the Mission from the membership at the Annual General Meeting. The Trustees endeavour to ensure that there are sufficient Members with the range of skills and experience necessary so that Trustees can be elected to meet the governance requirements of the Mission.
New Trustees who are not familiar with the responsibilities of a charity trustee are provided with Charity Commission guidance and any other training required. If new Trustees have not experienced working as a volunteer in one of the day to day services of the Mission the opportunity is provided for them to do so.
The Trustees normally meet every three months and have appointed sub committees for particular areas of business. Matters for decision are normally brought forward by a sub-committee, an individual Trustee or the Director, considered and, if necessary, voted on. Details of the Trustees who have served
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during the year and since the year end together with other legal information required to be disclosed are set out on page 11
The charity is managed day to day by the Director in accordance with the objectives and policies decided by the Trustees.
The Mission is a Church in the Tower Hamlets Circuit of the Methodist Church and is represented on the Circuit Meeting. Presbyters appointed to the Circuit are entitled to be Trustees of the Mission. Rev Jenny Impey is a Trustee. The Circuit is entitled to appoint an additional Trustee to the Mission, though the post is currently vacant.
Remuneration of the staff of the Mission is set with regard to market rates for similar employment and the policy of the Methodist Church and the policy of the Methodist Church to pay all employees no less than the Living Wage as published by the Living Wage Foundation.
## **FINANCIAL REVIEW**
The accounts have been prepared under the accounting standard, FRS 102.
The charity made an operating deficit of £87,895 (2022: £152,438 surplus) in the year.
This is a result of both higher costs incurred in providing our services and a fall in voluntary income, partly offset by an increase in income from key worker accommodation.
Most types of voluntary income were down this year on last. Gifts in kind increased by some £94,000, offset by the same figure in expenditure, so these figures do not affect the deficit.
The remaining sources of voluntary income fell in total by £157,704. The drop in legacy income from last year’s exceptional figure of £142,348 to a more modest £69,328 is not surprising. The Mission is most grateful to the supporters who remember us in their will but we continue to recognise that this is an unpredictable source of income which cannot be relied on to cover routine expenses. Fundraising activity performed much
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better (up £47,000) with Covid concerns receding, but donations from individuals, both gift aided and not, fell back. We are grateful for all our supporters, who have allowed the Mission to cope with continued high demand for our services
Other income, mainly from rental of shops and key worker housing, increased to £248,263 (2022: £212,225).
Total recurrent costs at £1,494,979 (2022: £ 1,280,981) are significantly up on last year, up £119,659 even after increased gifts in kind of £94,339 are taken into account.
The cost of providing our services to homeless people rose by £207,791, mostly the cost of frontline staff to meet demand (up £73,503) and increased provisions costs (up £37,474) and increased gifts in kind (up £94,339, though offset by an equivalent in income - see para 4 above).
The value of the restricted property fund is unchanged from last year at £6,863,122 in accordance with the accounting policy established in 2017 for FRS 102 and explained in note 1 to the accounts. Total funds at the year end were £7,511,704 of which most were in the restricted property fund (£6,863,122) a small amount in the endowment fund (£12,202).
The Mission undertook a programme of building refurbishment during the year, upgrading the kitchens, guests toilets and washroom and the flats let to key workers. Accordingly capital expenditure was £230,479, a significant increase on last year. These investments will stand the Mission in good stead for a number of years.
The Mission recovered a significant amount of money owed so that debtors were reduced by £124,980 slightly short of the target.
Free reserves, those unrestricted reserves not invested in illiquid fixed assets, stood at £252,289 slightly short of the target.
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## **PUBLIC BENEFIT**
The Trustees have had regard to the Charity Commission’s guidance on public benefit in setting its objectives and planning its activities. The sections of this report headed ‘Activities’ and ‘Achievements and performance’ report on the Mission’s activities and successes. The work of the Mission benefits homeless people and key workers who access its services, and members of the public who are informed about homelessness, through our website, publications and talks.
## **OBJECTS OF THE WHITECHAPEL MISSION**
The constitution of the Mission permits a wide range of objects. The main objects of the Mission are:
- The support of homeless people
- Provision of housing for key workers
## **ACTIVITIES**
In order to support homeless people, the Mission has provided:
- A free hot breakfast served every day of the year
- Washing facilities, including showers and clean clothes
- Assistance to homeless people to secure hostel accommodation
- Assistance to homeless people to secure employment
- Employment, legal and benefit advice
- Educational services, including cooking, maths and computer classes
- Visiting medical, dental and hairdressing services
- Facilities to enable homeless people to be able to communicate with family
- and with statutory authorities
In order to provide housing for key workers the Mission has let 11 flats to a local hospital trust which uses them to accommodate staff from local hospitals at an affordable rent.
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The Mission would not be able to achieve its aims and objectives without the generous gifts of time and effort given freely by volunteers. Our volunteers help in a variety of roles including the kitchen, sorting and distributing donations and giving general support to the people who use our services. The number of volunteers hours given in the year is estimated at 28,078. This has risen again, since the covid restrictions and now that the risk of introducing infection into the Mission has reduced.
## **ACHIEVEMENTS AND PERFORMANCE**
The purpose of the Mission is to support any homeless person coming through the doors of the day centre, and to provide help and advice to assist them so that they are no longer homeless and in need of support. Ultimate success would therefore be indicated by a reduction in the number of people seeking our services. Unfortunately, pressures in society outside the Mission mean that demand has not reduced. 32% of people using our services have been in care at some time and 38% have been in prison.
The Mission is open 365 days a year and about 355 people attend the day centre every day. However, 9,157 different people used the day centre during the year, of whom 2,931 used our advice services, an increase of 11% over last year. This shows that many people find the help they need and move on, to be replaced by others newly in need.
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## **PLANS FOR THE FUTURE PERIODS**
The Trustees consider that the Mission is effective in its current activities, and that it should first ensure that those services can continue in the face of increasing demand and emerging strains on the physical capacity of the building. Accordingly, plans to improve the use of the existing space are in hand.
Efforts will continue to find new and varied sources of funding to ensure that the Mission remains financially resilient and can raise additional funds to meet demand.
## **FUNDRAISING**
The charity does not employ a professional fundraiser, nor does the charity contract with any commercial fundraising agencies. The charity is registered with the Fundraising Regulator and has signed up to The code of Fundraising Practice, and the charity does have regulatory procedures in place covering fundraising. No complaints have been received by the charity from its fundraising.
The charity only sends fundraising material and updates on the charity’s work to individuals who have actively opted in to receive contact of this nature from the charity in order to protect the public from intrusion. We aim to protect vulnerable members of the public from persistent contact by ensuring that updates on the charity’s activities are not too frequent, and are controlled at chief executive level.
Face to face fundraising activity is largely confined to instances where the charity is approached by an organisation to arrange a discussion on the work of the charity, where donations may be collected.
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## **RESERVE POLICY AND GOING CONCERN STATEMENT**
The Mission aims to maintain a level of reserves sufficient for it to maintain stability through a period of variable income such as that it experienced in 2016. The Trustees would like to maintain a free reserve equivalent to three months expenditure (net of depreciation and gifts in kind) for these purposes. At the year end this target had been achieved and the free reserve stood at £250,369, slightly short of the target. As well as the free reserves the Mission has promises of support if needed from the Methodist Church in Tower Hamlets Circuit amounting to £100,000 in total.
The accounts have been prepared on a going concern basis.
The Trustees consider that the charity's funds should have little exposure to risk. Accordingly,the charity has minimal investments not held on bank deposit to allow ready access to monies as and when required. The charity’s investments are held and managed by the Methodist Church and are invested in accordance with the social, environmental and ethical principles of the Methodist Church.
In common with all Methodist charities, the Charity's property is held by the Central Finance Board of the Methodist Church.
## **RISK MANAGEMENT**
The strategic and operational risks involved in running the charity are kept under review by the Trustees and action is taken whenever necessary to ensure that, as far as is reasonably practical, these risks negated. Where it is considered appropriate suitable insurance cover is in place.
The Mission has rigorous operational procedures to ensure that Health and Safety risks arising from its provision of services to homeless people are minimised. Special risk assessments were undertaken and precautions were put in place after the Covid-19 outbreak. These assessments and the appropriate precautions have been continually reviewed as the outbreak progressed.
Regular and rigorous checks are made on the security of the Mission’s web-site.
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## **TRUSTEES’ RESPONSIBILITIES IN RELATIONS TO THE FINANCIAL**
## **STATEMENTS**
The Trustees are responsible for preparing the report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees 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 of the charity for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP 2019(FRS102);
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping sufficient 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 Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.
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Approved by the Trustees on 30th August 2023 and signed on their behalf by:
Michael Spurr Chair
Keith Aldred Treasurer
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## **MISSION STATEMENT**
Founded in 1876, Whitechapel Mission has been caring for the poor and homeless of London regardless of race or religion, in their struggle against hunger, poverty, disease, prejudice and exclusion.
Our work is inspired by our Christian concern.
General Office: Telephone: 03000 111 400 The Whitechapel Mission 020 7247 8280 212, Whitechapel Road 020 7247 8281 London E1 1BJ
Registered Charity No: 227905 email: mission@whitechapel.org.uk website: www.whitechapel.org.uk Director: Tony Miller MBE
Whitechapel Mission Managing Trustees:
Continuous Mr Michael Spurr (Chair) Mr Paul Hornsby (Secretary) Dr Keith Aldred (Treasurer) Mr Peter Butt Mr Stephen Perry Mr Peter Barlow Ms Joanna Fozzard Ms Cheryl Gurnham Revd Jennifer Smith Revd Jennifer Impey
Bankers: Independent Auditors: Barclays Bank PLC Clay Ratnage Strevens & Hills & Co Mile End and Bow Branch Suite D, The Business Centre 240, Whitechapel Road Faringdon Avenue London Romford E1 1BJ Essex, RM3 8EN Solicitors: Investment Advisers: Lovell Son & Pitfield Central Finance Board Investment Unit 9 Gray’s Inn Square 9 Bonhill Street Gray’s Inn London London. WC1R 5JT EC2A 4PE Annual Report 2023 11
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## **DIRECTOR’S COMMENTS**
The Whitechapel Mission has served homeless and hungry Londoners since the 1870s. Last year, The Whitechapel Mission provided more than 129,752 hot meals, an increase of 26% over our figures in 2023 and 1179% from our first year of 1876.
We were able to accomodate over 21,000 people requiring a shower and clean, dry clothing.
Each breakfast and every service is an invitation to advice, councelling and community programmes that help guests make progress.
Our work is privately funded by the generous donations and in-kind gifts of caring individuals, and supported by the efforts of over 3,000 thousand of volunteers this year.
As I look back on 2023, I am filled with joy at the lives changed through your support of The Whitechapel Mission!
As you may know, homelessness in London has reached the highest levels since the Great Depression.
Thanks to your generosity, thousands of men and women experiencing hunger and homelessness found renewed hope and new life. As we bring together more caring partners like you, I look forward to seeing us transform more lives in 2024!
Thank you again for sharing your heart with the people at The Whitechapel Mission.
## **Thank you, for standing with us.**
Tony Miller MBE
We may be a financial capital of the world, but our homeless and working poor neighbours experience extreme suffering.
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## **VOLUNTEERS**
## **Volunteers are an important and integral part of our work, and we are pleased to see the return of some old friends and many new ones.**
Our goal is to encourage volunteering as a concept, as we all want to make a difference when we see people sleeping in a doorway or struggling with homelessness. And we shouldn't have to pay for the opportunity to volunteer.
We want volunteering at Whitechapel to be fun, rewarding, challenging, free and safe. The skills, opinions and experiences of each volunteer are valued and we want them to be an integral part of our organisation.
The Whitechapel Mission began in 1876 and much of our work would never have been possible without the support of thousands of volunteers. Today, volunteers play a crucial role, working with us to deliver services to people who are homeless.
Our guests and our staff enjoy meeting the new volunteers each morning and having the interaction across the counter as they specify how they wish to have their tea or coffee made, or what they would like for breakfast. An important element of humanity is the interaction between us.
We are grateful to all of the volunteers who get up so early in the morning to join us as we attempt to make a difference for an ever increasing number of people looking for help.
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Over **3,013** volunteers, offering over **28,078** hours of their time.
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**˝ Every day of the year, we open our doors to offer a warm welcome, shelter, food and the opportunity for a ˝ new start – Sue**
**– Sue** , Centre Manager
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## **SERVICES**
Pre-pandemic, we would regularly welcome about 150 people for breakfast, and a few more that had only visited for a shower, the clothing, or maybe the advice workers. Most would take the breakfast first and then do the other things too.
Post-pandemic, we now serve over 350 breakfasts each morning and those numbers continue to rise. We recently invested in new counter tops, to keep the food hot, but also allow us to serve more people and at a faster rate.
We are also seeing a higher number of people, with no history of homelessness, asking for advice as they struggle to pay bills and keep on top of rent payments. They are worried about becoming a rough sleeper.
We upgraded the computers within the computer suite to M1 apple Macs. Using the build-in guest accounts, it means that no data is stored on the computer, and therefore it is not possible to see the previous users applications for employment, benefits or housing.
**129,752 breakfasts served this year**
**9,157 different people used our daycentre services during the year**
Some people just need a listening ear and somebody to share their fears with.
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## **TEAM MEMBERS**
We welcome Chey, George, Bruno and Suzy to our daycentre team, and say farewell to Brendon and Donatas, who have moved on to new challenges. This brings the daycentre team to 10.
And we also welcome Bridget and Molly to our administration team. A much needed boost to our family at Whitechapel.
**We remain open to all and provide our essential services everyday!**
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## **Morrison Foerster**
## **THANK YOU**
This must start with a huge thank you to the members of staff who deliver the services every day of the year. Everything that we have managed to achieve would not have been possible without the staff being here each day.
And then, to all of you who have supported us over the past year in so many different ways we say a sincere “Thank you”. Our continued service could not happen without the support you have given us.
We hope that you are proud to be a member of the ‘Whitechapel family’ and that we will be able to count on your continued support for a long time to come. To mention any groups or individuals by name when so many have played a part in our story during the past year is difficult, but we really do need to thank our 5000club partners and supporters for their commitment to our work. The 5000club are those partners and supporters who have backed their giving of gifts and volunteering with a donation of £5,000 or more and their commitment is so important for the continuing work here.
During the past year our 5000club partners were: **Deutsche Bank**
## **Dentons LLP**
## **FundApps**
## **Northriver Limited**
## **Worshipful Company of Glovers Worshipful Company of Coopers Worshipful Company of Pewterers**
Our aim is to serve the homeless and marginalised men and women who have become caught in the cycle of poverty, hopelessness and dependencies of many kinds, and our goal is to see their lives transformed to hope, joy and lasting productivity.
Over the past twelve months your help and support has enabled us to reach out and made a difference to those who have nowhere else to turn. Together we are The Whitechapel Mission and together, with your continued help and support, we will keep going towards our goal.
In this Annual Report 2023 we have again tried to give you an insight into the work that goes on here at The Whitechapel Mission each and every day and hopefully you will have gained the sense of the urgency and the importance of what we do for those for whom The Whitechapel Mission and our promise is all they have to hold on to.
As we enter another year of service together, please will you continue to pray for everyone connected to the Whitechapel Mission– the staff, trustees, volunteers, supporters and guests alike.
## **And thank you all once again.**
## **Credit Agricole**
## **Mills & Reeve LLP**
## **Irwin Mitchell LLP**
## **Clarksons Platou**
## **Brookfield**
## **Softcat**
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## INDEPENDENT AUDITORS' REPORT
FOR THE YEAR ENDED 31 OCTOBER 2023
TO THE TRUSTEES OF THE WHITECHAPEL MISSION
## Opinion
We have audited the financial statements of The Whitechapel Mission (the ‘charity’) for the year ended 31 October 2023 which comprise Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
## In our opinion the financial statements:
- give a true and fair view of the state of the charity’s affairs as at 31 October 2023, and of its
- incoming resources and application of resources, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted
- Accounting Practice; and
- have been prepared in accordance with the requirements of the Charities Act 2011.
## Basis of opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence 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 trustees’ use of the going concern basis of accounting in the 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 charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
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## THE WHITECHAPEL MISSION
## INDEPENDENT AUDITORS' REPORT (CONTINUED)
TO THE TRUSTEES OF THE WHITECHAPEL MISSION
## Other information
The trustees are responsible for the other information. The other information comprises the information included in the trustees’ annual report , other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with 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 required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have 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.
## Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
- the information given in the financial statements is inconsistent in any material respect
- with the trustees’ report; or
- sufficient accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records; or
- we have not received all the information and explanations we require for our audit.
## Responsibilities of trustees
As explained more fully in the trustees’ responsibilities statement set out on page 9, the trustees are responsible for the preparation of financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
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## THE WHITECHAPEL MISSION
INDEPENDENT AUDITORS' REPORT (CONTINUED)
TO THE TRUSTEES OF THE WHITECHAPEL MISSION
## Auditor’s responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will 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 expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
To identify risks of material misstatement due to fraud (“fraud risks”) we assessed events or conditions that could indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud. Our risk assessment procedures included:
+ Obtaining an understanding of the legal and regulatory frameworks applicable to the charity. + Obtained an understanding of how the charity is complying with those legal and regulatory frameworks by making enquiries to the trustees.
+ The susceptibility of the charity’s financial statements to material misstatement caused by fraud or other irregularities were assessed with the following procedures: **�**
- Identifying and assessing the design effectiveness of controls which trustees have in place to prevent and detect fraud
- Understanding how those charged with governance considered the potential for override of controls and management biases
- Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations
Potential fraud risks that had been identified throughout the planning and commencement of the audit were communicated to the audit team.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
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## THE WHITECHAPEL MISSION
INDEPENDENT AUDITORS' REPORT (CONTINUED)
TO THE TRUSTEES OF THE WHITECHAPEL MISSION
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: https://www.frc.org.uk/library/standards-codespolicy/audit-assurance-and-ethics/auditors-responsibilities-for-the-audit/. This description forms part of our auditor’s report.
Clay Ratnage Strevens & Hills Chartered Accountants & Statutory Auditor Suite D, The Business Centre Faringdon Avenue Romford, Essex, RM3 8EN
Date: 30 August 2024
Clay Ratnage Strevens & Hills is eligible to act as auditor in terms of section 1212 of the Companies Act 2006.
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## The Whitechapel Mission
## Statement of financial activities
## For the year ended 31 October 2023
|Unrestricted
operating
fund
Note
£
Income from:
Donations and legacies
2
1,158,644
Charitable activities
Key Worker accommodation
162,472
Other income
Rental Income - Commercial
81,250
Investments
4,541
Total income
1,406,907
Expenditure on:
Raising funds:
3
100,417
Services to homeless people
3
1,256,812
Key Worker accommodation
3
137,749
Total expenditure
1,494,979
177
4
(87,895)
Transfer between funds
-
Net movement in funds
(87,895)
Reconciliation of funds
Total funds brought forward
714,274
Total funds carried forward
11
626,379
Net gains/(losses) on investment assets
Net Income/(expenditure)
Charitable activities
Raising funds|Unrestricted
operating
fund
Note
£
Income from:
Donations and legacies
2
1,158,644
Charitable activities
Key Worker accommodation
162,472
Other income
Rental Income - Commercial
81,250
Investments
4,541
Total income
1,406,907
Expenditure on:
Raising funds:
3
100,417
Services to homeless people
3
1,256,812
Key Worker accommodation
3
137,749
Total expenditure
1,494,979
177
4
(87,895)
Transfer between funds
-
Net movement in funds
(87,895)
Reconciliation of funds
Total funds brought forward
714,274
Total funds carried forward
11
626,379
Net gains/(losses) on investment assets
Net Income/(expenditure)
Charitable activities
Raising funds|Restricted
property fund
£
-
-
-
-
-
-
-
-
-
-|Endowment
fund
£
-
-
-
-
-
-
-
-
-
-|2023
Total
£
1,158,644
162,472
81,250
4,541
1,406,907
100,417
1,256,812
137,749
1,494,979
177
(87,895)
-
(87,895)
7,589,598
7,501,703|2022
Total
£
1,222,009
131,563
72,250
8,412|
|---|---|---|---|---|---|
||||||1,434,234|
||||||86,384
1,049,021
145,576|
||||||1,280,981|
||||||(816)|
||(87,895)
-
(87,895)
714,274
626,379|-
-
-
6,863,122
6,863,122|-
-
-
12,202
12,202||152,438
-|
||||||152,438
7,437,160|
||||||7,589,598|
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 11 to the financial statements.
23
Docusign Envelope ID: 56AD8CE5-BF0E-4A01-95C0-F0820DFC8583
## The Whitechapel Mission
## Balance sheet
## 31 October 2023
|31 October 2023||||||
|---|---|---|---|---|---|
|Note
Fixed assets
Tangible fixed assets
6
Investments
7
Current assets
Debtors
8
Cash at bank and in hand
Liabilities
9
Net current assets/(liabilities)
Net assets
Funds
10
Restricted funds
Revaluation reserve
Unrestricted funds
Endowment funds
Total charity funds
11
Creditors: amounts falling due
within one year|Unrestricted
operating
fund
£
374,090
42,884
416,974
128,998
198,902
327,900
(118,497)
209,403
626,379
-
-
626,379
-
626,379|Restricted
property
fund
£
6,863,122
-
6,863,122
-
-
-
-
-
6,863,122
5,740,954
1,122,168
-
-
6,863,122|Endowment
fund
£
-
-
-
-
12,202
12,202
-
12,202
12,202
-
-
-
12,202
12,202|2023
£
7,237,212
42,884
7,280,096
128,998
211,104
340,102
(118,497)
221,605
7,501,703
5,740,954
1,122,168
626,379
12,202
7,501,703|2022
£
7,097,418
42,707|
||||||7,140,125|
||||||253,908
324,812|
||||||578,720
(129,249)|
||||||449,471|
||||||7,589,596|
||||||5,740,954
1,122,168
714,274
12,202|
||||||7,589,598|
Approved by the trustees on and signed on their behalf by30/8/2024
Michael Spurr, Chair
Keith Aldred, Treasurer
24
Docusign Envelope ID: 56AD8CE5-BF0E-4A01-95C0-F0820DFC8583
## The Whitechapel Mission
Statement of cash flows
|For the year ended 31 October 2023|||
|---|---|---|
|Cash flow from operating activities:
Net cash provided by operating activates
Cash flow from investing activities:
Dividends, interest and rent from investments
Proceeds from sale of property, plant and equipment
Purchase of property, plant and equipment
Proceeds from the sale of investments
Purchase of investments
Net cash provided by investing activities
Cash flow from financing activities:
Repayments of borrowing
Cash inflows from new borrowing
Receipt of endowment
Net cash provided by financing activities
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at the beginning of the reporting period
Cash and cash equivalents at the end of the reporting period
Reconciliation of net income/(expenditure) to net cash flow from
operating activities
Net income/(expenditure) for the year as per the statement of
financial activities
Adjustments for:
Depreciation
(Gains)/losses on investments
Dividends, interest and rent from investments
Profit/(loss) on disposal of fixed assets
(Increase)/decrease in stock
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by operating activities|2023
£
30,980
85,791
(230,479)
-
(144,688)
-
-
-
-
(113,708)
324,812
211,104
(87,895)
90,678
(177)
(85,791)
7
-
124,910
(10,752)
30,980|2022
£|
|||40,695|
|||80,662
(118,212)
-|
|||(37,550)|
|||-
-
-|
|||-|
|||3,145|
|||321,667|
|||324,812|
|||152,438
77,795
816
(80,662)
12,807
-
(57,206)
(65,293)|
|||40,695|
The charity has no net debt
25
Docusign Envelope ID: 56AD8CE5-BF0E-4A01-95C0-F0820DFC8583
## The Whitechapel Mission
## Notes to the financial statements
## For the year ended 31 October 2023
1. Accounting policies
## a) Statutory information
The Whitechapel Mission is an unincorporated charity registered with the Charity Commission in England & Wales as established by the Model Trust deed of the Methodist Church of 1932, dated 15th December 1932 as amended 30th August 1967 and 2nd November 1994.
## b) Basis of preparation
The accounts have been prepared in accordance with the charity's trust deed, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The accounts have been prepared under the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below.
The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
## c) Going concern
At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the charity continues to adopt the going concern basis of accounting in preparing the accounts. The Mission also has promises of support if needed from the The Methodist Church in Tower Hamlets amounting to £100,000 in total. Therefore the trustees consider the going concern basis to be appropriate.
## d) Incoming resources
Income is brought into account when it is more likely than not that the economic benefit of the income will accrue to the charity.
Voluntary income including donations, gifts and grants that provide core funding or are of general nature are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Such income is only deferred when the donor specifies that the grant or donation must only be used in future accounting periods: or the donor has imposed conditions which must be met before the charity has unconditional entitlement. Gift Aid due on donations is included in the year in which the donation is received.
Income from charitable activities are sums received from carrying out the charity's objects. Income is comprised of rent from key worker accommodation accounted for on a receivable basis and contributions by beneficiaries for food and other items accounted for on receipt.
Income from commercial rentals is funds received from letting part of the main church building which is in commercial use.
Income from investments is comprised of bank interest. Interest is recognised on a receivable basis.
## e) Resources expended
Expenditure is recognised when a liability is incurred, or a constructive obligation arises, that results in the payment being unavoidable. Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where support costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Support costs are general administrative overheads which are not allocable to specific charitable activities. Governance costs are included as an element of general support costs. Governance costs include the cost of the preparation and audit of the statutory accounts, the cost of trustees' meetings and any legal advice to trustees on governance or constitutional matters. Both support and general governance costs have been allocated 75% to services to homeless people, 20% to the provision of key worker accommodation and 5% to fundraising activities. The charity is not VAT registered and all expenses include applicable VAT.
26
Docusign Envelope ID: 56AD8CE5-BF0E-4A01-95C0-F0820DFC8583
## The Whitechapel Mission
Notes to the financial statements
For the year ended 31 October 2023
## 1. Accounting policies (continued)
## f) Volunteers and donated services
In accordance with the SORP the value of services provided by general volunteers is not incorporated into these financial statements. Further details of the contribution made by volunteers can be found in the trustees' annual report.
## g) Employment cost, pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the statement of financial activities in the period to which they relate.
Other employment costs, such as the cost of unused holiday, is included in the year in which the charity receives the employment services. Any redundancy costs are recorded at the time the decision to make redundancies is communicated to the employees.
## h) Donated goods
The Whitechapel Mission receives donations of food, toiletries bedding and clothing.
The SORP requires the valuation of donated good at fair value. Distributing and using donated goods in its service provision is an important part of the Mission's work, but it is difficult to place an accurate value on the donations.
The charity includes donated food and toiletries used in the delivery of services at the cost the charity estimates that it would pay for such goods if they were not donated. This assessment of value includes the bulk and trade discounts available for the large quantities of supplies used which may not be available to the original donor.
The charity includes donated clothing, bedding and other good distributed to beneficiaries at an estimate of value based on the volume of gifts received and used, compared to the volume of gifts recycled. A value is then estimated based on the price the charity could formerly obtain for that recycling. The charity receives both new and second items and there is no practical way in which the charity can more accurately assess the value of these donations, less the costs of collecting them from the donor where applicable, without using disproportionate resources in the calculation of a different estimate.
Some donated items may be held in stock where multiple similar items are donated at the same time. No valuation is given to stock held at the year end which is not thought to be material to the user of the accounts.
A small proportion of the clothing received is not suitable for distribution. Where this is the case, funds received from the recycling sales were recognised as donations at the time of sale. From January 2020 it was not possible to sell recycled clothing, but from July 2021 sales resumed.
## i) Tangible fixed assets
Tangible fixed assets are included at their historical cost, except for the property occupied by the charity which is at an FRS102 transitional cost based on the value for insurance purposes as at 1st November 2015. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
|Motor vehicles|20% straight line|
|---|---|
|Equipment and furniture|10% straight line|
|Computer equipment: laptops|25% straight line|
|Computer equipment: desktops|33.33% straight line|
No depreciation is provided on the property as the residual value is considered to be above the carrying value shown in the accounts. The property is reviewed annually for impairment.
## j) Listed investments
Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Any change in fair value will be recognised in the statement of financial activities. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading “Net gains/(losses) on investments” in the statement of financial activities. The charity does not acquire put options, derivatives or other complex financial instruments.
## k) Taxation
The charity is exempt from tax on its charitable activities.
27
Docusign Envelope ID: 56AD8CE5-BF0E-4A01-95C0-F0820DFC8583
## The Whitechapel Mission
## Notes to the financial statements
## For the year ended 31 October 2023
## 1. Accounting policies (continued)
## l) Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. The unrestricted funds in the financial statements all relate to operating activity.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for a particular restricted purpose, or from the donation of assets which have restrictions placed on their use. The restricted funds in the financial statements relate to the charity's property, donated for use in delivering the charity's main activities.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Endowment funds are received from donors where the terms specify that the capital of the fund should be held in perpetuity, but income earned may be applied to the charity's objects.
## m) Financial instruments
The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Charity’s balance sheet when the Charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the accounts, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## Basic financial assets
Basic financial assets, which include other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## Basic financial liabilities
Basic financial liabilities, including other payables are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
2. Donations and legacies
|Donations and legacies|||
|---|---|---|
|Donations from individuals
Gift Aid donations
Legacies
Fundraising activities
Total
including food, clothing and toiletries
Donated clothing recycled
Donations from companies and charitable trusts
Estimate of the value of gifted provisions|2023
Total
£
151,292
248,474
69,328
325,227
299,339
2,771
62,213
1,158,644|2022
Total
£
207,323
292,017
142,348
355,797
205,000
4,056
15,469|
|||1,222,009|
28
Docusign Envelope ID: 56AD8CE5-BF0E-4A01-95C0-F0820DFC8583
## The Whitechapel Mission
## Notes to the Financial Statements
## For the year ended 31 October 2023
- 3 Analysis of expenditure
|Analysis of expenditure|||||||||
|---|---|---|---|---|---|---|---|---|
|Staff costs (Note 5)
Motor and travel
Purchased provisions including food,
medical and supplies
Estimate of the value of gifted
provisions including food, clothing
and toiletries
Subscriptions
Depreciation of fixed assets
Premises maintenance
Administration
Communications
Audit and professional fees
Support costs
Governance costs
Total expenditure 2023
Total expenditure 2022|Raisingfunds||Charitable activities||Governance
costs
£
-
-
-
-
-
-
-
-
-
12,000|Support costs
£
181,356
-
-
-
-
-
-
40,311
-
-|2023
Total
£
659,350
10,564
202,407
299,339
1,675
90,678
126,122
40,311
37,471
27,062
1,494,979
-
-
1,494,979
1,280,982|2022
Total
£
557,785
19,468
160,954
205,000
2,440
77,795
173,751
41,215
29,908
12,666|
||Raising
funds
£
49,652
3,170
19,429
-
503
-
6,306
-
1,874
-|Commercial
rentals
£
-
-
-
-
-
-
-
-
7,800|Services to
homeless
people
£
413,405
7,394
182,978
299,339
1,172
72,542
69,367
-
28,103
7,262|Key worker
accommodation
£
14,937
-
-
-
18,136
50,449
-
7,494|||||
||80,934
11,083
600|7,800
-
-|1,081,562
166,250
9,000|91,016
44,333
2,400|12,000
-
(12,000)|221,667
(221,667)
-||1,280,982
-
-|
||92,617|7,800|1,256,812|137,749|-|-||1,280,982|
||84,684|1,700|1,049,021|145,576|-|-|||
All expenditure was unrestricted across both years
29
Docusign Envelope ID: 56AD8CE5-BF0E-4A01-95C0-F0820DFC8583
## The Whitechapel Mission
## Notes to the Financial Statements
## For the year ended 31 October 2023
- 3 Analysis of expenditure - prior year comparative
|Staff costs (Note 5)
Motor and travel
Purchased provisions including food,
medical and supplies
Estimate of the value of gifted
provisions including food, clothing
and toiletries
Subscriptions
Depreciation of fixed assets
Premises maintenance
Administration
Communications
Audit and professional fees
Support costs
Governance costs
Total expenditure 2022|Raisingfunds|Raisingfunds|Charitable activities|Charitable activities|Governance
costs
£
-
-
-
-
-
-
-
-
-
5,040|Support costs
£
163,243
-
-
-
-
-
-
41,215
-
-|2022
Total
£
557,785
19,468
160,954
205,000
2,440
77,795
173,751
41,215
29,908
12,666|
|---|---|---|---|---|---|---|---|
||Raising funds
£
42,004
5,840
15,450
-
732
-
8,688
-
1,495
-|Commercial
rentals
£
-
-
-
-
-
-
-
-
1,700|Services to
homeless
people
£
339,902
13,628
145,504
205,000
1,708
62,236
95,563
-
22,431
5,926|Key worker
accommodation
£
12,636
-
-
-
15,559
69,500
-
5,982
-||||
||74,209
10,223
252|1,700
-
-|891,898
153,344
3,780|103,677
40,892
1,008|5,040
-
(5,040)|204,458
(204,458)
-|1,280,982
-
-|
||84,684|1,700|1,049,022|145,577|-|-|1,280,982|
All expenditure was unrestricted across both years
30
Docusign Envelope ID: 56AD8CE5-BF0E-4A01-95C0-F0820DFC8583
## The Whitechapel Mission
## Notes to the financial statements
## For the year ended 31 October 2023
4. Net expenditure for the year
This is stated after charging / crediting:
|Interest payable
Depreciation
Auditors' remuneration:
▪Audit (excl. VAT)
Trustees' remuneration
Trustees' reimbursed expenses|2023
£
-
90,678
-
-
10,000|2022
£
-
77,795
-
-
4,200|
|---|---|---|
Trustees' reimbursed expenses represents the reimbursement of travel and subsistence costs to two (2022: two) members relating to attendance at meetings of the trustees.
## 5. Staff costs and numbers
Staff costs were as follows:
|Staff costs were as follows:|||
|---|---|---|
|Salaries and wages
Social security costs
Pension contributions
Total emoluments paid to staff were:|2023
£
579,076
52,773
27,501
659,350
606,577|2022
£
489,709
45,236
22,840|
|||557,785|
|||512,548|
Emoluments were paid to the wife of the CEO, under a contract of employment with the charity agreed by the Trustees and at a salary set by the Trustees. Further details can be found in note 13.
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the statement of financial activities in the period to which they relate.
One employee earned between £60,001 and £70,000 during the year (2022: 1, £60,001-£70,000). £6,604 was made in employer's pension contributions during the year on behalf of this employee (2022: £4,100).
The average weekly number of employees (full-time equivalent) during the year was as follows:
|Employees|2023
2022
No.
No.
18
15
Head count|
|---|---|
31
Docusign Envelope ID: 56AD8CE5-BF0E-4A01-95C0-F0820DFC8583
## The Whitechapel Mission
## Notes to the financial statements
## For the year ended 31 October 2023
## 6. Tangible fixed assets
|Cost
At the start of the year
Additions in year
Disposals
At the end of the year
Depreciation
At the start of the year
Charge for the year
Disposals
At the end of the year
Net book value
At the end of the year
At the start of the year|Land and
buildings
£
6,863,122
-
6,863,122
-
-
-
6,863,122
6,863,122|Fixtures and
fittings
£
207,732
195,498
-
403,230
90,313
39,759
-
130,072
273,158
117,419|Motor
vehicles
£
96,337
12,708
-
109,045
22,692
20,153
42,845
66,200
73,645|Equipment
£
194,336
22,273
(28,517)
188,092
151,104
30,766
(28,510)
153,360
34,732
43,232|Totals
£
7,361,527
230,479
(28,517)|
|---|---|---|---|---|---|
||||||7,563,489|
||||||264,109
90,678
(28,510)|
||||||326,277|
||||||7,237,212|
||||||7,097,418|
The building occupied by the charity is held by the Trustees for Methodist Church Purposes (TMCP) as custodian trustees.
## 7. Investments
|Investments|||
|---|---|---|
|Market value at the year start
Withdrawal from investment
Unrealised gain / (loss)
Market value at the year end
Cash
Pooled investments|2023
£
42,707
-
177
42,884
42,039
845
42,884|2022
£
43,523
-
(816)|
|||42,707|
|||42,039
668|
|||42,707|
There were no investment assets held outside the UK
The majority of the investments are held in the Trustees Interest Fund by the Trustees for Methodist Church Purposes (TMCP) as custodian trustees. The valuations, at market value, are those provided by TMCP. The unrealised gains arising on investments at the end of the year are shown in the SOFA and in Note 11 below.
## 8. Debtors and prepayments
|Debtors and prepayments|||
|---|---|---|
|Trade debtors
Other debtors|2023
£
98,363
30,634
128,998|2022
£
163,974
89,933|
|||253,907|
Other debtors contains a multi-year unrestricted grant of which nil (2022: £10,000) remained outstanding at the balance sheet date.
32
Docusign Envelope ID: 56AD8CE5-BF0E-4A01-95C0-F0820DFC8583
## The Whitechapel Mission
## Notes to the financial statements
## For the year ended 31 October 2023
9. Creditors: amounts falling due within one year
|Creditors: amounts falling due within one year|||
|---|---|---|
|Trade creditors
Taxation and social security
Accruals and deferred income
Other creditors|2023
£
(6,175)
14,225
76,333
34,114
118,497|2022
£
36,860
14,774
37,813
39,802|
|||129,249|
Deferred income of £32,754 (2022 £30,380) represents rent received in advance.
## 10a. Analysis of net assets between funds (current year)
|Analysis of net assets between funds (current year)||||
|---|---|---|---|
|General
unrestricted
£
374,090
42,884
209,403
626,379
General
unrestricted
£
234,296
42,707
437,269
714,272
Investments
Net current assets/(liabilities)
Analysis of net assets between funds (prior year)
Net current assets
Tangible fixed assets
Investments
Net assets at 31 October 2022
Net assets at 31 October 2023
Tangible fixed assets|Restricted
£
6,863,122
-
-
6,863,122
Restricted
£
6,863,122
-
-
6,863,122|Endowment
£
-
-
12,202
12,202
Endowment
£
-
-
12,202
12,202|Total funds
£
7,237,212
42,884
221,605|
||||7,501,703|
||||Total funds
£
7,097,418
42,707
449,471|
||||7,589,596|
10b. Analysis of net assets between funds (prior year)
11a. Movements in funds (current year)
|Movements in funds (current year)|||||
|---|---|---|---|---|
|At the start
of the year
£
Restricted & endowment funds
Endowment funds
12,202
Revaluation reserve
1,122,168
5,740,954
Total restricted funds
6,875,324
Unrestricted funds
Operating fund
714,274
Total funds
7,589,598
Land and buildings|Incoming
resources
£
-
-
-
-
1,406,907
1,406,907|Outgoing
resources and
transfers
£
-
-
-
-
(1,494,979)
(1,494,979)|Gains on
Investments
£
-
-
-
177
177|At the end of
the year
£
12,202
1,122,168
5,740,954|
|||||6,875,324|
|||||626,379|
|||||7,501,703|
33
Docusign Envelope ID: 56AD8CE5-BF0E-4A01-95C0-F0820DFC8583
## The Whitechapel Mission
## Notes to the financial statements
## For the year ended 31 October 2023
## 11b. Movements in funds (prior year)
|Movements in funds (prior year)|||||
|---|---|---|---|---|
|At the start
of the year
£
Restricted & endowment funds
Endowment funds
12,202
Donation to buy furniture
-
Revaluation reserve
1,122,168
5,740,954
Total restricted funds
6,875,324
Unrestricted funds
Operating fund
561,836
Total funds
7,437,160
Land and buildings|Incoming
resources
£
-
-
-
-
1,434,234
1,434,234|Outgoing
resources and
transfers
£
-
-
-
-
-
(1,280,982)
(1,280,982)|Gains on
Investments
£
-
-
-
-
(816)
(816)|At the end of
the year
£
12,202
-
1,122,168
5,740,954|
|||||6,875,324|
|||||714,273|
|||||7,589,598|
11. Movements in funds (current year)\continued
## Purposes of restricted funds
Included in fixed assets are land and buildings from which Whitechapel Mission operate, for which the title is held by the Trustees for Methodist Church Purposes (TMCP).
These assets have been included in the accounts of Whitechapel Mission as a restricted fund. Although the Whitechapel Mission have full use of the asset, for the current purposes the property does have to be returned to the control of TMCP if it is no longer used for those purposes. This obligation is in the nature of a restriction on the use of the asset and therefore this has been reflected in the accounts by treating the gift of the property as a restricted fund. The balance on the restricted fund therefore reflects the carrying value.
## Purposes of endowment funds
The endowment funds represent funds provided by the C.T. Catlin Bequest. The money is invested to generate income which may be used without restriction, but the endowment is permanent and the capital may not be spent.
34
Docusign Envelope ID: 56AD8CE5-BF0E-4A01-95C0-F0820DFC8583
## The Whitechapel Mission
## Notes to the financial statements
## For the year ended 31 October 2023
## 12. Comparative information
The SOFA for the previous year, is as follows:
|Comparative information
The SOFA for the previous year, is as follows:|||||
|---|---|---|---|---|
|Donations and legacies
2
Charitable activities
Contributions for meals and clothing
Key Worker accommodation
Other income
Rental Income - Commercial
Investments
Total income
Expenditure on:
Raising funds:
Commercial rentals
Services to homeless people
Key Worker accommodation
Total expenditure
Transfer between funds
Net movement in funds
The balance sheet for the previous year is as follows
Unrestricted
operating
fund
£
Fixed assets
Tangible fixed assets
234,296
Investments
42,707
277,003
Current assets
Debtors
253,908
Cash at bank and in hand
312,610
566,518
Liabilities
Creditors: amounts falling due within one year
(129,249)
Net current assets/(liabilities)
437,269
Net assets
714,274
Net Income/(expenditure)
Raising funds
Charitable activities
Net gains/(losses) on investment assets||Unrestricted
operating
fund
£
1,222,009
-
131,563
72,250
8,412
1,434,234
86,384
1,049,021
145,576
1,280,982
(816)|Endowment
fund
£
-
-
-
-
-
-
-
-
-
-
-|2022
Total
£
1,222,009
-
131,563
72,250
8,412|
|||||1,434,234|
|||||86,384
-
1,049,021
145,576|
|||||1,280,981|
|||||(816)|
|||152,438
-
152,438
Restricted
property
fund
£
6,863,122
-
6,863,122
-
-
-
-
-
6,863,122|-
-
-
Endowment
fund
£
-
-
-
-
12,202
12,202
-
12,202
12,202|152,438
-|
|||||152,438|
|||||2022
£
7,097,418
42,707|
|||||7,140,125|
|||||253,908
324,812|
|||||578,720
(129,249)|
|||||449,471|
|||||7,589,598|
35
Docusign Envelope ID: 56AD8CE5-BF0E-4A01-95C0-F0820DFC8583
## The Whitechapel Mission
## Notes to the financial statements
## For the year ended 31 October 2023
The balance sheet for the previous year (continued)
|Funds
Restricted funds
Revaluation reserve
Unrestricted funds
Endowment funds
Total charity funds|-
-
714,274
-
714,274|5,740,954
1,122,168
-
-
6,863,122|-
-
-
12,202
12,202|5,740,954
1,122,168
714,274
12,202|
|---|---|---|---|---|
|||||7,589,598|
## 13. Related party transactions
No trustee received a salary, benefits, travel expenses or other emoluments during the year. No trustees donated restricted funding in the current or prior year. Unrestricted donations totalled £3,070 (2022: £4,384).
The charity has close links to the Methodist Church who also retain legal ownership of the Mission's freehold building. No Methodists grants were received during the year (2022 No Methodists grants were received ).
Key management comprises the two most senior employees: the chief executive and the manager of the centre. Salaries, employer's national insurance and employer's pension for key management totalled £131,075 (2022: £125,808). Key management are required to live in the Mission building in accommodation provided by the charity. The daughter of the key managment also worked in the charity during the year in the communications team and earned £40,905 including employer's pension and National Insurance contributions (2022 £41,851).
Staff loans at the year end stood at £700 (2022: £700 ).
No separate trustee insurance was purchased during the year.
## 14. Contingent Asset
As at 31 October 2023, Tower Hamlets Circuit had agreed to provide any required support and financial assistance to The Whitechapel Mission to enable it to meet its annual obligations up to £50,000, this was increased to £100,000 in February 2024.
36
Docusign Envelope ID: 56AD8CE5-BF0E-4A01-95C0-F0820DFC8583
p