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2022-03-31-accounts

REGISTERED COMPANY NUMBER: 02052268 (England and Wales) REGISTERED CHARITY NUMBER: 295501

REPORT OF THE TRUSTEES AND

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

ONE WESTMINSTER

DSK Partners LLP Chartered Accountants and Statutory Auditors D S House 306 High Street Croydon Surrey CR0 1NG

ONE WESTMINSTER

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

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Page
Report of the Trustees 1 to 10
Report of the Independent Auditors 11 to 14
Statement of Financial Activities 15
Statement of Financial Position 16
Statement of Cash Flows 17
Notes to the Statement of Cash Flows 18
Notes to the Financial Statements 19 to 30
Detailed Statement of Financial Activities 31 to 32
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ONE WESTMINSTER

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

Trustees Report for Annual Accounts 2021 -2022

The Trustees, who are also directors of One Westminster (the "Company", for the purposes of the Companies Act), submit their Annual Report and the financial statements for the year ended 31 March 2022. The Trustees confirm that the Annual Report and financial statements of the Company comply with current statutory requirements, the requirements of the Company's governing document and the provisions of the SORP - FRS 102.

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objects of One Westminster remain:

i) To promote volunteering and the role of voluntary organisations to achieve any charitable purpose for the benefit of the community.

ii) To promote any charitable purpose and , in particular, the advancement of education, relief of unemployment, the protection of health and the relief of poverty, distress and sickness and

iii) To promote and organise cooperation to facilitate the achievement of the above charitable purposes and to that end to bring together in council representatives of voluntary organisations and statutory authorities within the area of benefit which are engaged in the furtherance of the above charitable purposes.

We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our work and in planning future activities.

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ONE WESTMINSTER

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

OBJECTIVES AND ACTIVITIES ACTIVITIES, ACHIEVEMENTS AND PERFORMANCE - YEAR 2021-2022 Introduction:

Another year has flown past bringing with it further lockdowns and huge pressures on our local Westminster communities and the organisations we serve. The team have continued to deliver effective services against a backdrop of continued working from home and uncertainty.

Just after the period of this report, we were successful in our bids to secure our 2 key and core contracts with Westminster City Council to provide support services to Westminster Charities and for our work as Westminster's Volunteer Centre. This year has also seen a further extension in our work as a provider of Social Prescribers and Well-Being coaches. The SP and Coaching team is now our largest, and our work with NHS colleagues locally in Westminster and across NW London is also growing and taking up more of our time. We continue to deliver our core work and our smaller but equally important projects - supporting adults with learning disabilities into volunteering and matching volunteer befrienders with older citizens.

Our commitment over the year ahead is to continue to provide the evidence and to lobby hard for more resources to reach our vital voluntary and community sector partners.

As always, the Board of Trustees owe the whole team and our volunteers a huge debt of gratitude for their hard work and commitment to the organisation.

Our Voluntary Sector Support Service (CVS).

During the year, the CVS team of Emma and Davide provided one-to-one support sessions to 42 registered VCS organisations in Westminster. This was provided through 83 email, online or telephone consultations. The team also supported applicants to a new Noth Westminster Fund which resulted in a significant increase in our work with new start-up small groups and charities (11 this year; normally 3-5), evidencing the impact local authority funding can have.

We ran 11 network events which were attended by a total of 285 people from the wider voluntary sector. Our over-arching Westminster Community Network (WCN) held three meetings; there were three Older People and four Health & Wellbeing Network meetings. These meetings were held online apart from one WCN in-person meeting at Grand Junction. Health & Wellbeing continues to be a major focus for all these meetings, as the sector struggles to support communities badly affected by the pandemic, by continuing cuts to statutory services and by the extreme housing crisis in Westminster.

We provided six Meet the Funders online meetings, attended by 78 people from Westminster VCS organisations - funders who attended were Lloyds Bank Foundation, Heritage Lottery Fund, the GLA (Untold Stories and Community Micro Grants), Childhood Trust, City Bridge Trust and Postcode Society Trust. The sessions were planned and organised by One Westminster, KCSC and Sobus - enabling VCS reps from the three boroughs to come together to hear from funders and ask questions. Funders have also welcomed this method of reaching a wider but still localised audience through tri-borough online meetings.

On behalf of the National Academy for Social Prescribing, we delivered four sessions of 'Learning Together' for 14 voluntary organisations from West London, including 7 based in Westminster. Organisations were clearly engaged and benefitted from the opportunity to learn about and discuss the opportunities for their work which Social Prescribing and new partnership-focussed structures within the NHS might offer.

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ONE WESTMINSTER

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

OBJECTIVES AND ACTIVITIES

CASE STUDY

Oleg was referred to us by London Plus. Originally from Ukraine, he is based in Westminster and together with his 10-strong team of volunteers has set up a website providing up to date information and resources for Ukrainians either already in the UK or seeking to come here: https://uk.ukrainian.community. He would like to set up a charity to be able to expand the project and make it sustainable by securing funding and employing some of the current volunteers. Oleg had previously met with charity lawyers, but he was not satisfied with the advice he was given.

During a couple of 1-2-1 sessions, we discussed the different options available to him and which one would best fit the project. After choosing to register as a CIO, we explained the process and requirements in detail and signposted him to templates and resources available on the One Westminster website, letting him know that he could contact us at any point during the process. We also explained the role and responsibilities of trustees, how to fundraise, grants available, resources and networks to connect to other organisations in the borough.

Oleg was very satisfied with our support and will be in contact with us after drafting the constitution for the charity.

Our Volunteer Centre Service

In response to the pandemic, we worked much closer with Westminster City Council over the year, running an Employment Support Volunteering Project and referring potential volunteers to Westminster Connects, the Council's volunteer programme.

Over the course of the year, Nigel, Samia and Peshang responded to over 600 volunteer enquiries. Our support to people interested in volunteering was mainly by phone and email, however, promotional outreach sessions were able to resume towards end of 2021.

Over 90 clients, particularly from vulnerable groups we worked with, attended the hybrid 'Introduction to Volunteering Workshop' held during the educational year, which is delivered in partnership with Westminster Adult Education Service (WAES).

Two gardening days were held in Westminster Parks with 35 volunteers helping to prune roses in Paddington Street Gardens and clearing leaves at St John's Wood Church Ground Gardens during November.

We hosted four Volunteer Coordinators Network meetings, with an average of 20 Westminster VCS groups attending each meeting. These included a talk from the DBS Regional Officer for Greater London and group discussions about the challenges and priorities facing Westminster Volunteer Coordinators and the ongoing support they would like from One Westminster.

Over 40 staff/volunteers from Westminster Voluntary Organisations attended two zoom Recruiting and Retaining Volunteers Workshop.

One Westminster carried out DBS checks for volunteers for Westminster Connects and One Westminster Projects, which included the Wellbeing Chat Service, Volunteer Employment Support project, Walking Companions Volunteer role and Afghan refugee volunteer roles.

Volunteer Employment Support Project

The Westminster Connects Volunteer Employment Support Project continued throughout the year. Its objective was to recruit volunteers to provide 1-2 hours weekly sessions for 6 months to an unemployed Westminster resident to support their progress into employment. We worked closely with existing key partners such as Westminster Job Centre and the wider Westminster VCS, which resulted in a high number of client referrals and self-referrals.

Overall figures for the year were following:

59 Volunteers Registered

38 matches - volunteers matched with unemployed residents

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ONE WESTMINSTER

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

OBJECTIVES AND ACTIVITIES

7 Training sessions held - attended by total of 42 volunteers

CASE STUDY

Volunteer's Name: Jason Green Time Volunteering: November 2020 - present day

I have supported a number of unemployed clients over this period.

The first client had not been in the work environment for six years due to ill health. She did not have a CV and had not used LinkedIn. As I started conversations with her, it was evident that we were going to start from "scratch" in terms of CV and professional profile. She was not aware of what routes to take in building a strong professional network of contacts or who to reach out to for sector specific recruitment agencies etc.

I was there to advise and guide so ultimately the decision was my clients on what she wanted to include in the CV. She was so committed and eager to learn and improve and as a mentor that was what I needed. For me to support her through the interview process and to see her grow in confidence, self-belief and most importantly self-worth knowing I had a part to play in her journey was heart-warming. To top it off, she was successful in securing a job in her sector.

The second client was a young person who was in a part-time role but wanted to progress and find a new challenging role. She had a great CV in terms of content and style and was making it to first interviews but not progressing further. I had to use my skills in listening and understanding people and ask probing questions to understand where it was not going right. She then told me she had Asperger's. I read up on the condition as I wasn't exactly sure what it was, but I wanted my client to tell me about it and educate me. This would also support her in confidence talking about it.

I told her we should celebrate it and use it to her benefit as her traits were some great skills that an employer would cherish. I did mock interviews with her and the objective was to bring it up in interview. Every mock interview became easier. Her confidence grew and her natural style of communication came across and was genuine. The next interview she went for, she got the job!

Giving up a few hours a week to support my clients was rewarding and although it sounds cliche, I felt more fulfilled and content in knowing I was using my skills to support someone else on their professional and personal journey.

Our Time and Talents - Corporate Volunteering and Brokerage Service

This service, delivered by Paola and Quoc faced a particularly challenging year as a direct result of the on-going pandemic. Despite this, the team worked tirelessly with our corporate and government partners and in providing volunteering opportunities for the Westminster Connects newsletter.

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|||| |---|---|---| |Westminster Connects Volunteers|Westminster Connects Referrals|Employee Volunteering| |362 referrals53 volunteering roles at|235 employees7 employer partners572| |100 Volunteers projects|local charities|hours volunteered| |25 charities supported2000 beneficiaries|

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The team identified 179 volunteering opportunities which were supplied to 25 Westminster Connects newsletters, resulting in 123 local organisations being supported with their volunteering needs. During the year the team hosted 4 Charity Q&A sessions where volunteers could meet individual charities. 25 charities showcased 100 plus opportunities to 92 volunteers.

The team worked with 106 individual Westminster based businesses helping them with their CSR and Social value delivery.

CASE STUDY: Charity Hackathon

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ONE WESTMINSTER

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

OBJECTIVES AND ACTIVITIES

Time & Talents ran its first hackathon - an increasingly popular event where volunteers come together to solve problems collectively.

120 employees from procurement consultancy 4C Associates spent an afternoon utilising their wide-ranging professional skills and suggested innovative solutions to a variety of operational, financial and IT challenges faced by five local charities on issues including:

Improving the supply chain of a charity that distributes recycled school uniforms and reorganising data collection and management for a lung condition support organisation.

* Thought up a variety of ways to raise funds.

"Working with the time and talents team has been great. They have been very professional and clear - would 100% work with them again. thank you!" Edward Court, 4C Associates

"Great support to help us make a professional re-think on our current platforms", Tess Jelen, British Lung Foundation Support Group

"Great team and a great day full of ideas. We are excited to apply the new ideas to our social enterprise!" Farah Mohammoud, You Press.

CASE STUDY :

Festive season comments

"Your generosity and kindness were very much appreciated, the refugee families are not entitled to any benefits and live on £8 a week each, so your gifts meant more than you can imagine. Sharon Blake, Westminster Children's Services

"We had a fun day today. Thank you for the opportunity to help out in the local community - Merry Christmas!" Mehdi Ddloune, Zipcar

"A big thank you for all your support in helping us to get volunteers for our Christmas Project. Your success in finding us volunteers at short notice was invaluable. The team from Ignite Logistics were one of our superstar volunteers!" Sandy Parianem, Age UK Westminster

Our Learning Disability Volunteering Report

Adults with Learning Disabilities have been some of those most negatively affected by the pandemic. We were determined to maintain contact with our ALD volunteers and ensured that all of them could access Zoom so that we could host regular group sessions. This continued, particularly up to the end of September, with regular face to face activities slowly beginning to return during the remainder of the year. The project is led by Maria, supported by Samia.

The popular zoom sessions helped to reduce isolation and importantly improve the health and well-being of all our Learning Disability Volunteers. At least ten LD volunteers attended the 30 sessions held during the year.

Highlights of the Zoom meetings included:

Yoga teacher - doing a group online yoga session Online creative writing session

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ONE WESTMINSTER

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

OBJECTIVES AND ACTIVITIES

Group singing session

Help with finance and budgeting

Nurse from St Marys Hospital, focusing on importance of mask wearing, and other issues relating to Covid 19 Fitness instructor - including zoom group stretching and various exercises

Staff from Civil Service - talk included communication skills and importance of teamwork Talk about volunteer opportunities currently available, including group volunteering activities

With the covid restrictions starting to be lifted, we resumed providing individual and specific key support in helping adults find their ideal volunteering role with Westminster voluntary and community sector.

We were able to support and place 35 adults with learning disabilities into volunteer roles. This included individual volunteering roles in charity shops, foodbanks, museums and group volunteering gardening days in Westminster Parks.

Other group activities during the year included a summer picnic at Paddington Recreation Ground, attendance at a Christmas Concert at the Royal Albert Hall and the popular visit to Regent's Park Zoo.

Quotes from LD volunteers

1. Raul

I enjoy volunteering at the Abbey Centre restaurant, it's easy work, no stress, people are nice and easy to talk to. I always attend all LD activities organised by LD team; I enjoy all the activities.

2. Gary

I enjoy going volunteering at Two Temple Museum. It has given me back my confidence and helped with my mental health. Also, I like it there because I meet different people all the time. I enjoy all LD activities, I get to see my friends from LD and other people, enjoy going to the Natural History Museum and Sport Day.

3. James

I enjoy going to Oxfam and being with people who are understanding because sometimes people get funny if they don't know me. I love gardening activities.

4. Dea

I love volunteering at Oxfam. It has given me my confidence back and the manager and staff are very supportive of my learning disability and health condition. My favourite activities are gardening and the Natural History Museum. LD team have been very supportive. Thank you.

Our Older People's Befriending Project

Our project, delivered by Natalie, successfully supported 109 older Westminster residents, by matching them with a volunteer befriender for weekly companionship throughout the period April 2021 to March 2022.

As Covid restrictions lifted, the demand for in-person, face to face, interaction increased significantly. Whilst there are still some matches from previous periods which have remained in contact with heir volunteer over the telephone, the service is now fully moving towards face-to-face contact with only two individuals opting for telephone befriending in the second half of the year. Many of the elderly people that the project supports have been able to slowly reintegrate back into their community by having a volunteer by their side to provide information, support and encouragement.

The strength of relationships formed with other health providers has been a vital element for the expansion of the project.

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ONE WESTMINSTER

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

OBJECTIVES AND ACTIVITIES

This year there has been an increase in service user referrals and a slight decrease in volunteer enquiries. This meant additional efforts were made to advertise for the volunteer role.

We had 93 new referrals this year with 109 active matches. 73 new volunteer enquiries resulted in 43 volunteers being recruited and fully trained with 4 awaiting training at the end of the financial year.

Quotes:

"I had a smashing time. I couldn't believe we made it to Primrose Hill. It was the best day I've had in a very long time - thank you so much" (Telephone call, March 2022).

Another heartfelt example from 'Wendy'; "Hi 'Coordinator', 'Simran' is coming today as I have to go to the dentist. They will take me there and back. Now that the weather is better, 'Simran', is going to come on a walk with me and Sally (dog). We are also going to go to Joe and the Juice in Victoria. It will be lovely as I have not been able to do all those things for a while. Thank you for finding me a kind and helpful befriender volunteer!" (Text message, March 2022).

How we communicate with others

One Westminster's communications continue to be delivered by Nina with wonderful support from our volunteer Jonathan. As we emerged from the pandemic we continued to build on the boost in numbers and engagement that COVID-19 and the lockdowns had provided, using our three main platforms - the One Westminster website, Twitter and Mailchimp (for our e-bulletin).

Our website pages were viewed 110,000 during the year and we recorded circa 45,000 individual users, double of what we started with when we launched the website in 2018.

During the year, we published 19 e-bulletins running around 500 stories covering the latest local news, free training and events, funding opportunities, jobs and the latest research/resources on relevant subjects, including the key issues affecting our communities of poverty and poor mental health. We introduced a new occasional section: SMALL CHARITY to profile their activities and discuss issues of concern. This has proved popular.

The opening rates remain as high as those reached during the pandemic - in excess of 40% which is nearly double the average opening rate of non-profit e-bulletins. The click rates also remained high, scoring at least 10% per e-bulletin throughout the year, three-and-a-half times as much as the average for the non-profit sector.

We published around 300 tweets with information relevant to the sector and helped promote the activities of our Westminster Community Network member organisations. In total nearly 75,000 views were recorded and at the end of this period we had more than 2,500 followers.

Feedback from readers

"Great newsletter! Lots of interesting stuff in there."

"I'm amazed at how much info you pack in - and so many links to useful resources too."

STRATEGIC REPORT

Financial position

The Charity's income was £1,006,045 in the year ended 31st March 2022 compared to £869,455 in the year ended 31st March 2021. The total expenditure amounted to £971,145 compared to £863,598 in the year ended 31st March 2021. As at 31st March 2022 the Charity has general free reserves of £187,018, from a total unrestricted fund amounting to £192,396. Overall, the total fund balance carried forward at 31st March 2022 was £205,214 (as illustrated in note 19).

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ONE WESTMINSTER

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

STRATEGIC REPORT Financial review

Reserves and investment policy

Free reserves are defined as the net assets of the charity excluding those assets tied up in fixed assets or representing restricted funds. The stated policy of the Trustees is to set a target level of free reserves equivalent to three months future expenditure less amounts already held in restricted reserves. Free reserves as defined by Charity Commission guidance are equivalent to the charity's general reserve which is deficit. The Trustees are fully aware of the urgency of building up a reserve and all efforts are in place to enable this.

The Memorandum & Articles of Association provides that the charity invests monies not immediately required for its own purposes in or upon such investments, securities or property, as may be thought fit. At the present time the Trustees' policy is to maintain all such monies on deposits earning a market rate of interest.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The organisation is a charitable company limited by guarantee, incorporated on 3 September 1986 and registered as a charity on 3 October 1986. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding one pound.

Recruitment and appointment of new trustees

The directors of the company are also charity trustees for the purposes of charity law and under the company's Articles are known as members of the Board of Trustees (or the Board). The members of the Board are elected to serve for a period of two years after which they must be re-elected by the Trustees for a further three years but must not serve more than five years consecutively unless co-opted.

At its 2021 Annual General Meeting it was agreed that Matthew Ayres and Sue Innes should be co-opted onto the Board in order that they could remain as Trustees following their 5 year service.

Organisational structure

Throughout the year, the organisation has continued to be led by Jackie Rosenberg on a part-time basis, seconded from Paddington Development Trust. A memorandum of agreement exists between PDT and One Westminster allowing for the secondment.

This arrangement is meeting the needs of both organisations and is likely to continue for the foreseeable future.

Risk management

The Board of Trustees has in place an active risk register which is regularly reviewed. The register reviews all aspects of the Charity's activities and puts in place measures to reduce any risks.

A full set of policies and procedures covering all aspects of the charity's work, including health and safety, child and vulnerable adult safeguarding, financial management etc. is in place and is reviewed annually.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

02052268 (England and Wales)

Registered Charity number

295501

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ONE WESTMINSTER

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

Registered office

37 Chapel Street London NW1 5DP

Trustees

E H K Yeo M Ayres Chair Ms S Annis M Hazell Treasurer Ms N Thalassis (resigned 7.5.22) Ms P Fudlalla Ms V Etienne Ms H Nightingale (appointed 16.6.21) Ms H Taheri (appointed 16.6.21) Ms E K A Fritz (appointed 8.9.21) Ms K O'Donoghue (appointed 8.9.21)

Company Secretary

Miss J Rosenberg

Auditors

DSK Partners LLP Chartered Accountants and Statutory Auditors D S House 306 High Street Croydon Surrey CR0 1NG

Bankers

Unity Trust Bank Nine Brindley Place Birmingham B1 2HB

OBSERVER

Iain Bott (Westminster City Council)

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of One Westminster for the purposes of company law) 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) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"

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ONE WESTMINSTER

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued

Company law 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

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

In so far as the trustees are aware:

AUDITORS

The auditors, DSK Partners LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ............................................. and signed on the board's behalf by: Jan 31, 2023

M. Ayres

.......................................................................... M Ayres - Trustee

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF ONE WESTMINSTER

Opinion

We have audited the financial statements of One Westminster (the 'charitable company') for the year ended 31 March 2022 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows 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 (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In our opinion the financial statements:

Basis for 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company 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 charitable company'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.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors 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 this gives rise to a material misstatement in the financial statements themselves. 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF ONE WESTMINSTER

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they 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 charitable company'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 charitable company or to cease operations, or have no realistic alternative but to do so.

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF ONE WESTMINSTER

Our responsibilities for the audit of the financial statements

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 a Report of the Independent Auditors 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 material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentation, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF ONE WESTMINSTER

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Romit Basu FCA (Senior Statutory Auditor) for and on behalf of DSK Partners LLP Chartered Accountants and Statutory Auditors D S House 306 High Street Croydon Surrey CR0 1NG Date: ............................................. 31 January 2023

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ONE WESTMINSTER

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
5
Grants and contract funding
Other trading activities
3
Investment income
4
Total
EXPENDITURE ON
Charitable activities
6
Direct costs
Staff costs
Support costs
Other
Total
NET INCOME/(EXPENDITURE)
Other recognised gains/(losses)
Actuarial gains on defined benefit schemes
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
2,268
32,500
59,956
-
94,724
4,047
(10,327)
17,068
253
11,041
83,683
23,343
107,026
85,370
192,396		 Restricted
funds
£
1,016
907,667
2,638
-
911,321
153,465
576,815
229,824
-
960,104
(48,783)
-
(48,783)
61,601
12,818		 2022
Total
funds
£
3,284
940,167
62,594
-
1,006,045
157,512
566,488
246,892
253
971,145
34,900
23,343
58,243
146,971
205,214		 2021
Total
funds
£
17,764
748,600
103,090
1
869,455
20,221
545,779
297,598
-
863,598
5,857
-
5,857
141,114
146,971

The notes form part of these financial statements

Page 15

ONE WESTMINSTER

STATEMENT OF FINANCIAL POSITION 31 MARCH 2022

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
13
9,914
CURRENT ASSETS
Debtors
14
157,549
Cash at bank
374,988
532,537
CREDITORS
Amounts falling due within one year
15
(343,895)
NET CURRENT ASSETS
188,642
TOTAL ASSETS LESS CURRENT
LIABILITIES
198,556
CREDITORS
Amounts falling due after more than one year
16
(6,160)
NET ASSETS
192,396
FUNDS
18
Unrestricted funds
Restricted funds:
Restricted funds
TOTAL FUNDS		 Restricted
funds
£
-
-
12,818
12,818
-
12,818
12,818
-
12,818		 2022
Total
funds
£
9,914
157,549
387,806
545,355
(343,895)
201,460
211,374
(6,160)
205,214
192,396
12,818
205,214		 2021
Total
funds
£
11,828
125,863
154,027
279,890
(111,966)
167,924
179,752
(32,781)
146,971
85,370
61,601
146,971

Jan 31, 2023 The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

M. Ayres

............................................. M Ayres - Trustee

The notes form part of these financial statements

Page 16

ONE WESTMINSTER

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022

Notes
Cash flows from operating activities
Cash generated from operations
1
Interest paid
Remeasurements of Defined Pension
Net cash provided by/(used in) operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Net cash used in investing 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		 2022
£
215,226
(253)
23,343
238,316
(4,537)
(4,537)
233,779
154,027
387,806		 2021
£
(7,986)
-
-
(7,986)
(8,589)
(8,589)
(16,575)
170,602
154,027

The notes form part of these financial statements

Page 17

ONE WESTMINSTER

NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022

1.
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
2022
2021
£
£
Net income for the reporting period (as per the Statement of Financial
Activities)
34,900
5,857
Adjustments for:
Depreciation charges
6,451
3,874
Interest paid
253
-
Increase in debtors
(31,686)
(38,735)
Increase in creditors
205,308
21,018		 1.
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
2022
2021
£
£
Net income for the reporting period (as per the Statement of Financial
Activities)
34,900
5,857
Adjustments for:
Depreciation charges
6,451
3,874
Interest paid
253
-
Increase in debtors
(31,686)
(38,735)
Increase in creditors
205,308
21,018
Net cash provided by/(used in) operations 215,226
(7,986)
2.
ANALYSIS OF CHANGES IN NET FUNDS
At 1.4.21
£
Net cash
Cash at bank
154,027		 Cash flow
At 31.3.22
£
£
233,779
387,806
154,027 233,779
387,806
Total
154,027		 233,779
387,806

The notes form part of these financial statements

Page 18

ONE WESTMINSTER NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is the Pound Sterling (£).

GOING CONCERN

As part of the trustees' assessment of going concern, they have prepared detailed cash flow and profit and loss forecasts for the next 12 months. The forecasts have been prepared on an appropriate basis, taking into account the current economic conditions that exist.

After making appropriate enquires, the trustees have a reasonable expectation that the charity has adequate resources to enable it to continue in operational existence for the foreseeable future. They believe it is appropriate to prepare the accounts on a going concern basis.

INCOME

Grant and contract funding

Income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Voluntary income

Income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when received. The value provided by volunteers has not been included.

Other income

Income, including bank interest, is recognised in full when received.

EXPENDITURE

Resources expended are recognised in the period in which they are incurred. Resources expended include attributable VAT which cannot be recovered.

Resources expended are allocated to the particular activity where the cost relates directly to the activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned on the basis of staff time attributable to each activity.

Grants including grants for the purchase of fixed assets are recognised in full in the Statement of Financial Activities in the year in which they are receivable. Income is deferred when received in advance of the period to which it relates.

TANGIBLE FIXED ASSETS

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives at the following rates:

continued...

Page 19

ONE WESTMINSTER

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

1. ACCOUNTING POLICIES - continued

TANGIBLE FIXED ASSETS

Improvements to Property - Straight line over the life of the lease Fixtures & Fittings - 33.33% on cost Computer Equipment - 20% on cost

Assets held under finance leases are depreciated in the same way as owned assets.

At each statement of financial position date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

TAXATION

The charity is exempt from corporation tax on its charitable activities.

FUND ACCOUNTING

Unrestricted funds are donations or other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes.

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund, together with a fair allocation of management and support.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The charity participates in a multi-employer scheme which provides benefits to some 950 non-associated participating employers. The scheme is a defined benefit scheme in the UK. It is not possible for the company to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore it accounts for the scheme as a defined contribution scheme.

TRADE AND OTHER DEBTORS

Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment.

CASH AND CASH EQUIVALENTS

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts.

TRADE AND OTHER CREDITORS

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

continued...

Page 20

ONE WESTMINSTER

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

2. DONATIONS AND LEGACIES

During the year, One Westminster received no legacy payments and £3,283 in donations from various funders. For the year ended 31st March 2021 there were no legacy payments and £17,764 related to donations from various funders.

3. OTHER TRADING ACTIVITIES

Sundry Income
Time and Talent
Rental Income
DBS
4.
INVESTMENT INCOME
Bank interest
5.
INCOME FROM CHARITABLE ACTIVITIES
Grants		 2022
£
24,869
24,545
13,180
-
62,594
2022
£
-
2022
Grants
and
contract
funding
£
940,167		 2021
£
24,349
46,767
30,428
1,546
103,090
2021
£
1
2021
Total
activities
£
748,600

continued...

Page 21

ONE WESTMINSTER

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

----- Start of picture text -----
6. CHARITABLE ACTIVITIES COSTS
Grant
funding of
Direct activities Support
Costs (see (see note costs (see
note 7) 8) note 9) Totals
£ £ £ £
Direct costs 19,906 137,606 - 157,512
Staff costs 566,488 - - 566,488
-
Support costs 242,332 4,560 246,892
828,726 137,606 4,560 970,892
7. DIRECT COSTS OF CHARITABLE ACTIVITIES
2022 2021
£ £
Staff costs 676,018 608,339
Staff related costs 9,165 6,330
Other charitable costs 10,101 12,557
Premises costs 84,618 89,026
Bank charges 4,994 725
-
Bad debt provision 5,652
Consultancy fees 37,379 37,638
Depreciation 6,451 3,874
828,726 764,141
8. GRANTS PAYABLE
2022 2021
£ £
Direct costs 137,606 -
Staff costs - 94,862
137,606 94,862
----- End of picture text -----

continued...

Page 22

ONE WESTMINSTER

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

9. SUPPORT COSTS

Support costs
Support costs, included in the above, are as follows:
Auditors' remuneration
NET INCOME/(EXPENDITURE)		 2022
Support
costs
£
4,560		 2022
Support
costs
£
4,560		 Governance
costs
£
4,560
2021
Total
activities
£
4,595		 Governance
costs
£
4,560
2021
Total
activities
£
4,595
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets
Auditors' remuneration		 2022
£
6,451
4,560		 2021
£
3,157
4,595

10. NET INCOME/(EXPENDITURE)

11. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.

TRUSTEES' EXPENSES

There were £Nil trustees' expenses for the year ended 31 March 2022 and £Nil for the year ended 31 March 2021.

12. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Staff		 2022
£
616,678
46,204
13,136
676,018
2022
23		 2021
£
545,482
43,600
19,257
608,339
2021
21

continued...

Page 23

ONE WESTMINSTER

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

12. STAFF COSTS - continued

No employees received emoluments in excess of £60,000.

13.
TANGIBLE FIXED ASSETS
Improvements
to
property
£
COST
At 1 April 2021
15,465
Additions
-
At 31 March 2022
15,465
DEPRECIATION
At 1 April 2021
15,465
Charge for year
-
At 31 March 2022
15,465
NET BOOK VALUE
At 31 March 2022
-
At 31 March 2021
-
14.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
Prepayments		 Fixtures
and
fittings
£
21,548
4,537
26,085
18,816
4,920
23,736
2,349
2,732		 Computer
equipment
£
116,864
-
116,864
107,768
1,531
109,299
7,565
9,096
2022
£
154,135
-
3,414
157,549		 Totals
£
153,877
4,537
158,414
142,049
6,451
148,500
9,914
11,828
2021
£
101,864
263
23,736
125,863

continued...

Page 24

ONE WESTMINSTER

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

----- Start of picture text -----
15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£ £
Trade creditors 6,750 243
Other creditors 20,868 18,812
Pension liability 3,531 11,106
Accruals and deferred income 312,746 81,805
343,895 111,966
16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£ £
Pension liability (payable between one and five years) 6,160 32,781
17. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
2022 2021
£ £
-
Within one year 25,500
18. MOVEMENT IN FUNDS
Net
movement At
At 1.4.21 in funds 31.3.22
£ £ £
Unrestricted funds
General funds 73,541 113,477 187,018
Designated funds 11,829 (6,451) 5,378
85,370 107,026 192,396
Restricted funds
Restricted funds 61,601 (48,783) 12,818
TOTAL FUNDS 146,971 58,243 205,214
----- End of picture text -----

continued...

Page 25

ONE WESTMINSTER

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

18. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General funds
Designated funds
Restricted funds
Restricted funds
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General funds
Designated funds
Restricted funds
Restricted funds
TOTAL FUNDS		 Incoming
resources
£
94,724
-
94,724
911,321
1,006,045		 Resources
expended
£
(4,590)
(6,451)
(11,041)
(960,104)
(971,145)
At 1.4.20
£
105,750
2,887
108,637
32,477
141,114		 Gains and
losses
£
23,343
-
23,343
-
23,343
Net
movement
in funds
£
(23,267)
-
(23,267)
29,124
5,857		 Movement
in funds
£
113,477
(6,451)
107,026
(48,783)
58,243
At
31.3.21
£
82,483
2,887
85,370
61,601
146,971

continued...

Page 26

ONE WESTMINSTER

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

18. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General funds
Restricted funds
Restricted funds
TOTAL FUNDS		 Incoming
resources
£
124,243
745,212
869,455		 Resources
Movement
expended
in funds
£
£
(147,510)
(23,267)
(716,088)
29,124
(863,598)
5,857
Brought
Incoming
Resources
Allocation
Carried
RESTRICTED FUNDS
Forward
Resources
Expended
to
Forward
Overheads
£
£
£
£
£
Family Learning & Support
(FLS)
33,005
80,267
113,272
-
Befriending Plus
17,777
32,592
37,555
-
12,818
LD Volunteering
3,656
20,000
23,656
-
Volunteer Outreach
Development Services
-
81,694
81,694
-
CVS
3,663
259,519
263,182
-
SPLW
3,500
423,250
426,750
-
Flood Fundraising Appeal
-
14,000
14,000
-
------------------
--------------------
------------------
------------------
------------------
61,601
911,322
960,105
-
12,818
==========
==========
==========
==========
==========

19. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2022.

continued...

Page 27

ONE WESTMINSTER NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

20. PENSION LIABILITY

The pension scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit occupational pension schemes in the UK.

SCHEME: TPT Retirement Solutions - The Growth Plan

The company participates in the scheme, a multi-employer scheme which provides benefits to some 638 non-associated participating employers. The scheme is a defined benefit scheme in the UK. It is not possible for the company to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore it accounts for the scheme as a defined contribution scheme.

The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit occupational pension schemes in the UK.

The scheme is classified as a 'last-man standing arrangement'. Therefore the company is potentially liable for other participating employers' obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme.

A full actuarial valuation for the scheme was carried out at 30 September 2020. This valuation showed assets of £800.3m, liabilities of £831.9m and a deficit of £31.6m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows:

Deficit contributions

From 1 April 2022 to 31 January 2025: £3,312,000 per annum (payable monthly)

Unless a concession has been agreed with the Trustee the term to 31 January 2025 applies.

Note that the scheme’s previous valuation was carried out with an effective date of 30 September 2017. This valuation showed assets of £794.9m, liabilities of £926.4m and a deficit of £131.5m. To eliminate this funding shortfall, the Trustee asked the participating employers to pay additional contributions to the scheme as follows:

Deficit contributions

From 1 April 2019 to 30 September 2025: £11,243,000 per annum (payable monthly and increasing by 3% each on 1st April)

continued...

Page 28

ONE WESTMINSTER NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

20. PENSION LIABILITY - continued

Where the scheme is in deficit and where the company has agreed to a deficit funding arrangement the company recognizes a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost.

PRESENT VALUES OF PROVISION

----- Start of picture text -----
31st March 31st March 31st March
2022 2021 2020
£ £ £
Present value of provision 9,691 43,887 52,000
----- End of picture text -----

RECONCILIATION OF OPENING AND CLOSING PROVISIONS

----- Start of picture text -----
|||| |---|---|---| |Period Ending-31st|Period Ending-31st| |March 2022|March 2021| |£|£| |Provision at start of period|43,887|52,000| |Unwinding of the discount factor (interest expense)|253|1,168| |Deficit contribution paid|(11,106)|(10,782)| |Remeasurements - impact of any change in assumptions|(223)|1,501| |Remeasurements - amendments to the contribution schedule|(23,120)|-| |Provision at end of period|9691|43,887|

----- End of picture text -----

INCOME AND EXPENDITURE IMPACT

----- Start of picture text -----
|||| |---|---|---| |Period Ending-31st|Period Ending-31st| |March 2022|March 2021| |£|£| |Interest expense|253|1,168| |Remeasurements - impact of any change in assumptions|(223)|1,501| |Remeasurements - amendments to the contribution schedule|(23,120)|-| |Contributions paid in respect of future service||| |Costs recognised in income and expenditure account||*|

----- End of picture text -----

*includes defined contribution schemes and future service contributions (i.e. excluding any deficit reduction payments) to defined benefit schemes which are treated as defined contribution schemes. To be completed by the company.

continued...

Page 29

ONE WESTMINSTER

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

20. PENSION LIABILITY - continued

ASSUMPTIONS

----- Start of picture text -----
31 March 2022 --% 31 March 2021--% 31 March 2020--
per annum per annum % per annum
Rate of discount 2.35 0.66 2.53
----- End of picture text -----

The discount rates shown above are the equivalent single discount rates which, when used to discount the future recovery plan contributions due, would give the same results as using a full AA corporate bond yield curve to discount the same recovery plan contributions.

The following schedule details the deficit contributions agreed between the company and the scheme at each year end period:

DEFICIT CONTRIBUTIONS SCHEDULE

----- Start of picture text -----
||||| |---|---|---|---| |31st March|31st March|31st March| |Year ending|2022|2021|2020| |£|£|£| |Year 1|3,531|11,106|10,782| |Year 2|3,531|11,439|11,106| |Year 3|2,942|11,782|11,439| |Year 4|-|10,113|11,782| |Year 5|-|10,113| |Year 6|-|-| |Year 7|-|-|-| |Year 8|-|-|-| |Year 9|-|-|-|

----- End of picture text -----

The company must recognize a liability measured as the present value of the contributions payable that arise from the deficit recovery agreement and the resulting expense in the income and expenditure account i.e. the unwinding of the discount rate as a finance cost in the period in which it arises.

Page 30

ONE WESTMINSTER

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

INCOME AND ENDOWMENTS
Donations and legacies
Gifts and Donations
Other trading activities
Sundry Income
Time and Talent
Rental Income
DBS
Investment income
Bank interest
Charitable activities
Grants
Total incoming resources
EXPENDITURE
Charitable activities
Wages
Social security
Pensions
Staff related costs
Other charitable costs
Premises costs
Bank charges
Bad debt provision
Consultancy fees
Depreciation of tangible fixed assets
Grants to individuals
Other
Interest payable
Support costs		 2022
£
3,284
24,869
24,545
13,180
-
62,594
-
940,167
1,006,045
616,678
46,204
13,136
9,165
10,101
84,618
4,994
-
37,379
6,451
137,606
966,332
253		 2021
£
17,764
24,349
46,767
30,428
1,546
103,090
1
748,600
869,455
545,482
43,600
19,257
6,330
12,557
89,026
725
5,652
37,638
3,874
94,862
859,003
-

This page does not form part of the statutory financial statements

Page 31

ONE WESTMINSTER

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

Support costs
Governance costs
Auditors' remuneration
Total resources expended
Net income		 2022
£
4,560
971,145
34,900		 2021
£
4,595
863,598
5,857

Signature:

Email: matthew.ayres@bennie.co.uk

This page does not form part of the statutory financial statements

Page 32

Final OW Full accounts YE31.03.22 (002)

Final Audit Report

2023-01-31

Created: 2023-01-31 By: One Westminster (a.fagbemi@onewestminster.org.uk) Status: Signed Transaction ID: CBJCHBCAABAAroroX6BRO2gPRVerDed42CxpLx_2qhW0

"Final OW Full accounts YE31.03.22 (002)" History

Document created by One Westminster (a.fagbemi@onewestminster.org.uk)

2023-01-31 - 3:24:15 PM GMT- IP address: 86.146.99.152

Document emailed to MATTHEW AYRES (matthew.ayres@bennie.co.uk) for signature 2023-01-31 - 3:25:43 PM GMT

Email viewed by MATTHEW AYRES (matthew.ayres@bennie.co.uk)

2023-01-31 - 8:29:06 PM GMT- IP address: 151.225.94.196

Document e-signed by MATTHEW AYRES (matthew.ayres@bennie.co.uk)

Signature Date: 2023-01-31 - 8:30:01 PM GMT - Time Source: server- IP address: 151.225.94.196

Agreement completed.

2023-01-31 - 8:30:01 PM GMT