**REGISTERED COMPANY NUMBER: 2235286 (England and Wales) REGISTERED CHARITY NUMBER: 800350**
**Report of the Trustees and Financial Statements for the Year Ended 31 March 2023**
**Waltham Forest Disability Resource Centre (A Company Limited By Guarantee)**
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**Waltham Forest Disability Resource Centre (A Company Limited By**
## **Report of the Trustees for the Year Ended 31 March**
## **Contents of the Financial Statements for the Year Ended 31 March 2023**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
2235286 (England and Wales)
## **Registered Charity number**
800350
## **Registered office**
90 Crownfield Road London E15 2BG
## **Trustees**
Mrs B Streader Mr M Gower Mrs K Butt Mr J. Malik Miss D Best
## **Company Secretary**
Ms P A Stanley
Acounts Checked by
Melanie Clarke Chelwood House Manor Lane Wistow Cambs
## **Bankers**
The Co-operative Bank Plc 195 High Road Wood Green London N22 6DP
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**Waltham Forest Disability Resource Centre (A Company Limited By**
## **Report of the Trustees for the Year Ended 31 March**
## **2021-22 OUR YEAR AT WALTHAM FOREST DISABILITY RESOURCE CENTRE**
The year very sadly brought shock and heartbreak when our wonderful Chairperson Heather Gower died on 1[st] June after a short illness. Heather and her family had been involved with the Centre from its earliest days and Heather had given so much to the organisation and its service users, in so many roles, including committee member, chairperson, spokesperson, volunteer tutor, fundraiser and caseworker. It’s impossible to express how much we miss her dedication, humour and wisdom.
2021-22 was also an anxious year in other ways, as for so many charities and small companies during the Covid pandemic. Following Waltham Forest Public Health’s Covid guidance for on-site disability services, we were very concerned to keep our vulnerable service users – as well as staff and volunteers - as safe as possible and were grateful to receive some National Infection Control funding towards implementing Covid precautions. With a restricted timetable and service user ‘bubble’ system, the Centre was able to offered on-site activities – albeit necessarily to a smaller number of service users - including needlecrafts, crafts, Fine Art, Table Tennis, Dance, Exercise classes and Ceramics.
Reduced service user numbers due to necessary Covid safety measures and a big reduction in community venue hire during this period had a significant financial impact on our charity in 2021-22. We were therefore extremely grateful to Landlease Ltd for a £10,000 grant from their Charity Gala and to the East End Community Foundation for funding a textile arts project led by Lucy Tate of United Arts. The project culminated in November 2021 with an exhibition of the gorgeous work produced by our service users, held at the Filly Brook restaurant in Leytonstone.
The Centre was also delighted to work with the LBWF Connecting Communities team as part of their Equality, Diversity and Inclusion (EDI) consultation work. We collaborated on running three workshops for local disabled adults to talk about their experiences of trying to earn a living, which highlighted many barriers to training and employment. We were also awarded an EDI Development Grant to hold a Digital Skills course for disabled adults.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
Waltham Forest Disability Resource Centre was originally established in 1988 to relieve persons with physical and/or sensory impairments resident in Waltham Forest. Since 2015 the Centre has been open to residents from neighbouring boroughs as well as Waltham Forest. It offers services to people with a range of needs, including people with learning disabilities, physical and sensory impairments and long-term health conditions.
## **Governing document**
The organisation is a charitable company limited by guarantee, incorporated on 24 March 1988 and was also registered as a charity on 24 March 1988. 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 each trustee is required to contribute an amount not exceeding £1.00.
Elected Trustees, who are also directors for the purpose of company law, serve for a period of two years after which they must be re-elected at the next Annual General Meeting. All trustees give up their time freely and no trustee remuneration was paid in the year.
## **Organisational structure**
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**Waltham Forest Disability Resource Centre (A Company Limited By**
## **Report of the Trustees for the Year Ended 31 March**
Waltham Forest Disability Resource Centre has a Management Committee which is responsible for the strategic direction and policy of the Charity. The Company Secretary and staff representative also sit on the Committee but have no voting rights. The Committee normally involves service users, volunteers and staff in regular DRC Planning Meetings but this was very difficult in 2020-21, due to the Centre being closed during Covid lockdowns.
A scheme of delegation is in place and the day-to-day responsibility for the provision of the services rests with the Centre Manager. The Centre Manager is responsible for ensuring that the charity delivers the services specified, h e a l t h a n d s a f e t y a n d s t a f f i s s u e s .
## **Risk**
## **management**
The Management Committee c o n t i n u e s t o review r e g u l a r l y the major risks to which the charity is exposed and has identified that the key risks currently facing the charity are:
- The Covid pandemic continues and will certainly have a major impact on our charity’s finances and how we provide services to our vulnerable users for some time to come. The inability to predict Covid’s future course makes accurate organisational/financial planning very difficult.
- Our organisation has a contract to provide some building management and building closing services at 90 Crownfield Road. Planned developments at the building and the way it is run could mean the loss/reduction of this income.
- The Centre n e e d s to attract new funding in order to continue providing services to a wide range of disabled people
- Attracting new funding may continue to be very difficult with a small staff team and a competitive fundraising environment.
Insurance cover is in place, appropriate Disclosure and Barring Service (DBS) checks are made on all staff and volunteers and are being updated on a three-yearly basis.
Internal control risks are minimised by implementation of procedures for authorisation of all transactions and projects.
Procedures are in place to ensure compliance with health and safety of staff, volunteers, users and visitors to the Centre.
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**Waltham Forest Disability Resource Centre (A Company Limited By Guarantee)**
**Use of**
**volunteers**
The Centre has always been grateful to work with local people who provide support and befriending as volunteers, help with fundraising and as Course/Activity tutors.
## **FINANCIAL REVIEW**
The main creditor of the charity is the Landlord, London Borough of Waltham Forest.
## **STATEMENT OF TRUSTEES RESPONSIBILITIES**
The trustees (who are also the directors of Waltham Forest Disability Resource Centre (A Company Limited By Guarantee) 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).
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
- select suitable accounting policies and then apply them
- consistently;
- observe the methods and principles in the Charity
SORP;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
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.
**On behalf of the board of Trustees:**
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**Waltham Forest Disability Resource Centre (A Company Limited By**
## **Statement of Financial**
## **for the Year Ended 31 March 2023**
|**Unrestricted**
**Restricted**
**fund**
**funds**
Notes
**£**
**£**
**INCOMINGRESOURCES from generated**
Grants & donations
13,995
2,000
HMRC Furlough Scheme
Activitiesforgeneratingfunds
14,390
Investmentincome
-
-
**Incoming resourcesfromcharitableactivities**
Disability ResourceCentre
69,649
**Totalincomingresources**
93,898
6,136
**RESOURCESEXPENDED**
**Costs ofgeneratingfunds**
8,340
**Charitableactivities**
Disability ResourceCentre
88,505
6,136
**Governancecosts incl. redundancy payments**
2,016
**Totalresourcesexpended**
98,861
6,136
**NET INCOMING/(OUTGOING)**
**RESOURCES**
(4,963)0
**Fund balances at 1 April 2022**
Fund balance at 31 March 2023|**31.3.23**
**Total**
**funds**
**£**
**15,995**
**-**
**14,390**
-
**69,649**
**100,034**
8,340
94,641
2,016
104,997
**(4,963)**
**14,059**
**9,096**|31.3.22
**Total**
**fund**
**£**
37,600
7,379
19,722
-
50,970|
|---|---|---|
||||
|||**115,671**
7,966
107,449
2,152|
|||117,567|
||||
||||
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**Waltham Forest Disability Resource Centre (A Company Limited By**
## **BALANCE SHEET At 31 March 2023**
|**NETCURRENTASSETS**
**9,096**
**Unrestricted**
**Restricted**
**fund**
**funds**
Notes
**£**
**£**
**FIXEDASSETS**
Tangibleassets
-
-
**CURRENTASSETS**
Debtors
-
Cash at bank and in hand
9,096
**9,096**
**CREDITORS**
Amounts fallingdue within one year 14
**FUNDS**
Unrestrictedfunds:
Restricted funds
**TOTAL FUNDS**||**14,059**
**31.3.23**
**Total**
**funds**
**£**
-
-
**9,096**
9,096
**9,096**|14,059
31.3.22
Total
funds
£
-
**14,059**
**14,059**
8,657
5,402
14,059|
|---|---|---|---|
||
|||
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The financial statements were approved by the Board of Trustees on January 23[rd] 2024 and were signed on its behalf by:
Mrs Beryl Streader - Trustee
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**Waltham Forest Disability Resource Centre (A Company Limited By**
## **Notes to the Financial Statements for the Year Ended 31 March 2023**
## **1. ACCOUNTING POLICIES**
## **Accounting convention**
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Companies Act 2006 and the Statement of Recommended Practice, Accounting and Reporting by Charities.
## **Incoming resources**
Income has been recognised gross on the basis of entitlement, certainty and measurement.
Donations, legacies and other forms of voluntary income are recognised as incoming resources when receivable, except insofar as they are incapable of financial measurement.
Grants are recognised in full in the Statement of Financial Activities in the year in which they are receivable or any requirement imposed on the grant is fulfilled.
Investment income is recognised on a receivable basis.
## **Resources expended**
Expenditure is recognised on an accruals basis, inclusive of value added tax.
Costs of generating funds are those costs incurred in attracting voluntary income, in particular grant funding and the costs of maintaining the charity's profile within the sector.
Expenditure relating to Disability Resource Centre are those elements of expenditure directly incurred in performing these activities.
Governance costs include those costs incurred in the governance of the charity's assets and are primarily associated with constitutional and statutory requirements.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Tangible fixed assets**
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery 3 years Fixtures, fittings & equipment 5 years
Capitalisation thresholds
The company establishes £75 as the threshold amount for minimum capitalisation of tangible property. Any items costing below this amount will be expensed in the company’s annual financial statements.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
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 particular restricted purposes.
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**Waltham Forest Disability Resource Centre (A Company Limited By**
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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**Waltham Forest Disability Resource Centre (A Company Limited By**
|**Notes**|**Notes**|**to**
**the**
**Financial**|**Statements**|**-**|||||
|---|---|---|---|---|---|---|---|---|
|**continued**|||||||||
||||||||**31.3.23**|**31.3.22**|
||||||||**£**|£|
|**1.**|**HMRC FURLOUGH SCHEME**|||||||7,379|
|**2.**|**DONATIONS AND LEGACIES**||||||||
||||||||**£**|£|
|||Donations and grants|||||15,995|37,600|
|**3.**||**ACTIVITIESFORGENERATINGFUNDS**|||||||
||||||||**2023**|**2022**|
||||||||**£**|£|
|||Services to other organisations, fundraising events and room hire|||||||
||||||||14,390|19,722|
|||Customers fees|and charges||||69,649|50,970|
|**4.**||**INVESTMENTINCOME**|||||||
||||||||**2023**|**2022**|
||||||||**£**|**£**|
|||Bank interest|||||-|-|
||||||||||
|5.||**INCOMING RESOURCES FROM ACTIVITIES FOR GENERATING FUNDS**|||||||
||||Unrestricted funds||Restricted funds|Total 2023|**Total**|**2022**|
||||2023||20223||||
|||||£|£|£||**£**|
|||Grants||7,000|2,000|9,000||35,644|
|||Miscellaneous||21,385||21,385||21,678|
|||income|||||||
|||||28,385|2,000|30,385||57,322|
|6.||TOTAL RESOURCES EXPENDED|||||||
|||Costs of activities generating funds|||||**8,340**|7,966|
|||Governance costs including redundancy payments|||||**2,016**|2,512|
|||Charitable activities|||||**94,641**|107,449|
||||||||**104,997**|**117,567**|
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**Waltham Forest Disability Resource Centre (A Company Limited By**
## **Notes to the Financial Statements - continued**
|||**31.3.23**|**31.3.22**|
|---|---|---|---|
|||**£**|£|
|**7.**|**TRUSTEES' REMUNERATIONAND BENEFITS**|||
||None of the Trustees (or any persons connected with them) received any renumeration or benefits from the|||
||Charity during the year.|||
|8.|Employees|**2023**|**2022**|
||Wages and salaries|53,366|53,366|
||Redundancy payments|||
||HMRC and Pensions|4,994
|4,994|
|||58,360|58,360|
No employees received renumeration of £60,000 or more.
## **12. TANGIBLE FIXED ASSETS**
Existing plant, machinery, fixtures and machinery had no book value in year ending 31 March 2022 due to age.
## **13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Trade debtors
Prepayments and accrued income
Trade creditors
Taxationandsocialsecurity
Other creditors|**20222021**
**£**£
7,500
288 713|**2021**
£
|
|---|---|---|
## **14.**
|**Analysis of net assets between funds**
Unrestricted
funds
Restricted funds
£
£
Fund balances at 31 March 2022 are represented by:
Tangible fixed assets
Current assets
8,657
5,402
Creditors
288|TOTAL
£
14,059
7,788|TOTAL
£
14,059
7,788|
|---|---|---|
|||7,788|
||
|
**6,271**|
## 15. **MATERIAL UNCERTAINTY**
In the light of price inflation and a difficult funding environment, trustees have concluded that a material uncertainty remains concerning the charity’s ability to continue as a going concern and that, therefore, the charity may possibly be unable to realise its assets and discharge its liabilities in the normal course of operations. However, given the continuing efforts to continue providing services and to additional funding, the trustees continue to adopt the going concern basis of accounting at present.
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**Waltham Forest Disability Resource Centre (A Company Limited By**
## **Notes to the Financial Statements - continued**
## **31.3.23 31.3.22 £** £
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**Waltham Forest Disability Resource Centre (A Company Limited By**
## **Notes to the Financial Statements - continued**
This page does not form part of the statutory financial
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