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← Waltham Forest Race Equality Council

2025-03-31-accounts

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WALTHAM FOREST RACE EQUALITY COUNCIL

WORKING TOWARDS EQUALITY

ANNUAL REPORT Financial year ending 31% March 2025 2024-2025

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FUNDED & SUPPORTED BY:

) got tte al Se RTO A ‘ay it LOTTERY FUNDED

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Community Fowndatior:

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Contents

REFERENCEAND ADMINISTRATION........ccccsscsssecessssssseesessssecsssssseessssssesssssssvssssssessessssesesssessesseseteeseeeees3
MISSION STATEMENT........sccsecsssssceesssssveecsssssecessssecesssssvecsesssveessssuveesesssssessssssecesevesesssssitsssssuseesstsseeesesnseeee4
CHAIRPERSON’S REPORT......eccsccesssssessssssesssssesssssecesssvecssssecessseesssseeessssesessusesesssesessseessssseessssecssssecsessseesesse5
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INTERIM MANAGER'S REPORT.....ccsssccsssssecsssssecsssssecssssecsssseccsssvecesssecessvecsusnseceussvecssssessssseesesseesesseecesseseees6
TRUSTEES REPORT oc scssceanmiosnoonhnnnnentnonmnaninaenmanemnnanemnndscxmmmeamamanmeel
ACTIVITIES,ACHIEVEMENTFORTHEYEAR&FUTURE PLANS .....ccssssssecsssssseesssssveessssssecesssssecesssssveeesesee 8
TRUSTEES RESPOSIBILITIES.......ss-ccssesssssecsssseessssvecesssseessvecesssecsssssecssssvecsssessssseessssueesssseceussecesssvecessseesesseeee9
STATEMENTOF FINANCIAL ACTIVITIES....ccsccssssssssssssssssessssssesssssssesseessesesessesessesecesseeseesessesseseesnssevensessesseeseeed1
BALANCE SHEET....sssesssssesssssvecsssseccssssecsssvecssssvccsssscesssveceasesessssecsssusecssssessssseesssecesssvcesssecevesssveceranereeseveeed2
NOTES TO FINANCIAL STATEMENT........sscccsssesssecssssecsssscsssecsssecsssscesssesssuessssesssuesssssssecesseessseesssecessee
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REFERENCE AND ADMINISTRATION

OFFICERS & EXECUTIVE COMMITTEE 2023/2024

Interim Chairperson: Miss Tasleem Ali Interim Vice Chairperson: Ms Esme Dacent Treasurer: Mr R.A Dowlutt. Trustees: Miss Tasleem Ali. Mr Abdi Goole. Mr R.A Dowlutt. Executive Members: Mr Abdi Goole, Mr A. R. Dowlutt, Ms Grace Mecaley, (Up to February 2024) Mr Imran Abassi, Mr M. Yousuf Qureshi, Dr.ArifUllah, Mr M. Akram, Miss Tasneem Ali. Co-opted Members: Mr Talat Raja, Mrs Liubov Vizdoga and Mr Cliff D’Souza Address: Waltham Forest Resource Centre. 1 Russell Road, Leyton. London E10. Independent Examiner: Sidney Milamo, BAcc, ACMA, 25 Watershipdown House, Cambridge Park Road, London E 11 2PY. Bankers: Co-operative Bank, Hoe Street London E17 STAFF

Ms Erum Hussain, (Interim Manager) Mr Chris Arian, (Volunteer Charity Advisor) Mrs Liubov Vizdoga, (Voluntary Worker)

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MISSION STATEMENT Waltham Forest REC Is working for a Just society, which gives everyone an equal Chance to work, to learn and live freely from discrimination, prejudice and from fear of racial harassment or violence.

ANNUAL REPORT 2024-2025

CHAIRPERSON’S REPORT MISS TASNEEM ALI

Dear Member/ Colleague

Welcome to our Review of the year 2024- 2025. We have had another challenging year. It is not uncommon with the tong- term impact of the economy, the cost of living crisis which has affected the community health, well-being and more so affected the economy recovery.

The executive committee is responsible to set up strategies for the long-term sustainability. The strategy plan we put forward from 2024 affirmed our strong belief and intention to nature the interest of the local community at the heart of our decision. am proud to report our strategy has put us on the path to gain more strength and attracted sufficient funds to deliver a good service to the diverse community in Waltham Forest.

However, the landscape is constantly changing with new perspectives. Funders want charitable organisations to demonstrate they are to deliver services with value for money. It is clear we have to produce services at cost effective to support the communities through tough times ahead.

iam confident WFREC will champion all the challenges. | end here by thanking members and colleagues for their continued hard work and dedication.

TREASURER’S REPORT.

MR RASHID A DOWLUTT

As treasurer my primary responsibility is to keep control on our resources available to run REC. | have to know where the money comes from and how we spend it. At the beginning of the financial year, we made a budget forecast which is reviewed every courtly and reported to the executive committees for approval. We operate a risk management process to identify high risks; likely impact and actions required.

We also operate a self-assessment exercise which includes quarters examinations of the ledger book, receipts invoices and petty cash. The final results are used by the independent auditors at the end of the financial year. My responsibility is simply to check the consistency if the summary financial statement with the Annual reports with the full Annual accounts.

Overall, it has been a successful year and my grateful thanks to all our funders for the year ending March 2025. The national lotteries have made significant funding available for REC continuously, including sport/England. Foyle foundation for the year 2024-2025 and with special mention to the Charles French Trust a great supporters of the community and REC.

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MANAGER'S REPORT MISS ERUM HUSSAIN

Dear Member/ Colleague

| am delighted to present my yearly review for year ending 2025. ft goes without saying it has been another challenging year.

| am still continuing with my immigration caseworks simultaneously managing the WFREC administrative works. Chris Arian the senior advisor for REC shadowing my work. | have gained significant experience in projects delivering which is incredibly important tog the survival of WFREC at the moment.

| am proud to comment we are in a strong position than ever before despite the economic odds to attract funding. We are making significant difference in the community and remain committed to serve them.

Immigration is incredibly important to provide self -generating income to REC. We are promoting this service through advertising campaigns and providing a fairer service at competitive rates. | am also pleased to report we are now attracting more female members in our management team.

Finally, | wish to thank our funders who have supported us throughout the years, the National Lottery, Sports England, Charles French Trust. Barchester and London Borough of Waltham Forest to whom we are indebted and very grateful.

To this end extend my thanks to Chris Arian, the chairperson, volunteers and members of the executive committee for their support.

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Trustee’s Report and Financial Statements for the year ended 31% March 2025

Trustees Report

1)Introduction:

The trustees present the financial statements of the charity for the year ending 31% March 2025. The financial statements have been prepared in accordance with the accounting policies set out on page 13 and comply with applicable Laws, the organisation (WFREC’s governing documents and the Charities Act 2011, Statement of Recommended Practice (SORP 2011) for accounting and reporting by charities.

Aims & Objectives:

The objects of WFREC are to work towards the elimination of discriminations and to promote equality of opportunity and good relations between persons of different groups, especially in the London Borough of Waltham Forest hereinafter known as the council’s “area of benefit”.

Functions:

In pursuing these objects and ancillary thereto but not further or otherwise, the council shall seek to fulfil the functions and may do anything lawful and necessary to fulfil them.

Structure, Governance and Management

Governing Document: The charity is governed by its constitution and acts entirely as a non-profit making organisation and has a charitable status, registered as a charity with the Charity Commission (charity number 803357).

Governance:

The trustee’s and executive committee who has served during the year are set out on pg. 3. The trustees, who Shall be at least three in number, are appointed by the members at the General Meeting and may put themselves forward for re-appointment.

Management:

The policy and general management of the affairs of the charity are directed by the Executive Committee (trustees). They meet at least not less than fdt times a year. The members of the Executive Committee elected, may be removed by the members at the general meeting. Day to day running of the WFREC is delegated to the Manager who attends Executive Committee meetings.

Membership:

Membership is open irrespective of sex, sexual orientation, political opinion, nationality, religion or race to all children who live within the area of benefit.

Activities:

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)

Going concern:

Even though the Rising Cost of Living is having a significant impact on the charity operations, the Management has determined that there is no material uncertainty that casts doubt on the entity’s ability to continue as a going concern.

Activities, Achievements for the Year and Future Plans

The Rising Cost of Living and Post covid -19 has significantly impacted the lives of the community and has left us in economic crisis. Nevertheless the charity is forging ahead guided by the community in delivering a valuable service to much needed local community. We are expected to do the same in our future performance.

Activities During 2024-2025:

Provided Information/awareness/resources/training sessions for mental and physical health and engagement events. providing a place for social inclusion, friendship and developing stronger links/interventions, accessing psychological/social support for rebuilding lives and building stronger local communities of older refugees, asylum seekers and immigrants.

Achievement and Performance:

Enabled local community to engage in:

Future Plans:

The Rising Cost of Living and pandemic has present us with a catalyst for changes. We are living in challenging time. Nevertheless, we are looking forward and have a clear vision to where we are going for 2025-26 even in the darkest time. Moving the reformed agenda forward, obviously we are depending entirely on the funders goodwill. Our vision is to deliver the service on the basis of value for money for short term and long-term strategies. For the year 2025-26 we aim to continue our trajectory journey through diversity and inclusion which is our mission. We will be seeking to deliver further projects for Asylum, Refugees and immigrants notably for Syria and Ukraine.

Financial Review and Reserve Policy:

The results of the charity for the year are shown in the financial statements set out on pages 11 to 12.

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The net assets at 31% March 2025 were £39,214. The council had income of £25,155; (2024: £36,000) and direct charitable and support expenditure of £18,654; (2024: £30,109). There was a surplus of £6,500; (2024: surplus of £5,891). Funds carried forward of £39.214 represent; £ unrestricted made of Designate: £10,000, General: £13,979 and £15,236 restricted.

Reserve Policy:

The charity’s policy on reserves is based on recognising the long-term nature of its work and the continuing need for financial support. The restricted funds and the unrestricted reserves are managed as with the intention of providing financial support today and for the foreseeable future. Policy on reserves is to hold reserves to cover three months of unrestricted expenditure.

Funding:

The charity received income from LB Waltham Forest, Awards for All and Sports England who enabled the charity to provide services in furtherance of its aims and objectives.

Appreciations:

All trustees acknowledge the tremendous efforts made by the volunteers. They would like to record their appreciation of all those who give their time and energy so generously. We do rely on the spirit of cooperation, dedication and commitment to accomplish our objectives.

Trustee’s Responsibilities in relation to the Financial Statement:

Law applicable to charities in England and Wales requires trustees to prepare financial statements for each financial year, which gave a true and fair view of the state of affairs of the charity for the period. In preparing those financial statements, the trustees are required to: F

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity. This enables them to ensure that the financial statements comply with applicable law. They are 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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Miss Tasneem Ali Chairperson

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INDEPENDENT EXAMINER’S REPORT

Independent Examiner’s Report to the trustees of Waltham Forest Race Equality Council (WFREC)

| report on the accounts of your charity for the year ended 31st March 2025, set out on pages 11 to 12

Respective responsibilities of directors and examiner:

As the trustees, you are responsible for the preparation of the accounts; you consider that the audit requirement of section 43(2) of the Charities Act 2011, does not apply. It is my responsibility to state on the basis of procedures specified in the General Directions given by the Charity Commissioners under section 43(7) b of the Act, whether particular matters have come to my attention.

Basis of Independent Examiner’s Report:

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees conceming any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.

Independent examiner’s statement:

In connection with my examination, no matter has come to my attention which:

(1) Gives me reasonable cause to believe that in any material respect the requirements to * keep accounting records in accordance with section 41 of the Act; and

(2) In my opinion, attention should be drawn to in order to enable a proper understanding of the accounts to be reached.

olan’.A ACMA BAcc, 25 Watershipdown House, Cambridge Park Road, London E11 2PY

Date ASU OU YB E ccc

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WALTHAM FOREST RACE EQUALITY COUNCIL (WFREC)

STATEMENTS OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31st MARCH 2025 (Incorporating Income and Expenditure Accounts)

INCOMING RESOURCES

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |Unrestricted|Restricted|Total|Total| |Funds|Funds|2024/25|2023/24| |Notes|£|£|£|£| |Incoming|Resources|From| |Generating Funds| |-|Voluntary|Income|2a|3,150|22,005|25,155|36,000| |-|Activities|For|Generating|Funds|2b|-|-|-|-| |-Other|Income|-|-|-|-| |Investment|Income|-|-|-|-| |Total|Incoming Resources|3,150|22,005|25,155|36,000| |Resources|Expended| |Direct|Charitable|Expenditure|3|(b)|-|13,594|13,594|22,871| |Donations|&|Similar|Income|3|(c)|4,710|4,710|6,788| |Governance|Cost|3|(d)|350|-|350|450| |Total Resources|Expended|350|18,304|18,654|30,109| |Surplus|/ (Deficit)|for the year|2,800|3,701|6,501|5,891| |Transfer|Between|Reserves|-|-|-|-| |Net|Movement|2,800|3,701|6,501|5,891| |Funds|Brought|Forward|1/4/2024|21,178|11,536|32,714|26,823| |Funds|Balance CFWD 31/3/2025|23,978|15,236|39,214|32,714|

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WALTHAM FOREST RACE EQUALITY COUNCIL (WFREC)

BALANCE SHEET AS AT 31st MARCH 2025

2024/25 2023/24
Total Total
Notes £ £
TANGIBLE FIXEDASSETS 11 1,422 2,846
CURRENTSASSETS
Bank & Cash at Hand 10 48,122 30,168
48,122 30,168
Amounts FallingDue within oneyear
Creditors & Accruals 5 10,330 (2,641)
Net CurrentAssets 37,792 29,868
NetAssets 39,214 32,714
FUNDS
Unrestricted Funds 21:177
General 13,978
Designated 6(a) 10,000
-Revenue 13,814 8,691
-Capital 1,422 2,846
9 39,214 32,714

Signed on:

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Interim Chairperson: Ms TASLEEN ALI
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AAD af bs ~- ai Treasurer: MR R. A. DOWLUT

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WALTHAM FOREST RACE EQUALITY COUNCIL (WFREC)

Notes to the Financial Statement for the year ended 31st March 2025

Accounting policies

1 (a) Basis of preparation

The financial statements have been prepared under the historical cost conversion and in accordance with applicable Accounting and Financial Reporting Standards and the charities SORP 2005 and Charity's Act 2006

(b) Fund-accounting

Unrestricted funds are funds available for use or retention at the discretion of the

Board of Trustees in accordance with the charity's objectives.

Designated funds comprise funds which have been set aside by the Board of trustees for specific purposes. They are set aside to ensure that redundancies and closure costs can be met at any one time to allow coping with unforseen circumstances

Restricted funds are funds subject to specific restrictive conditions imposed by the donors or by the declared purposes

( C) Incoming resources

These are included in the Statement of Financial Activities (SoFA) when:

Exercises/Health & Wellbeing

Donations & Similar Income

-the monetary value can be measured with sufficient reliability.

All income is accountable for on a receivable basis. Any general -purposes grants whose use is restricted by the grantor to some future accounting period are accounted for as

deferred income until the restriction has been satisfied

Grants and donations are only included in the SoFA when the charity has unconditional entitlement to the resources.

Contractual income and performance related grants- Included in SoFA only once the related goods or services have been delivered.

(d) Resources expended

All expenditure is accounted for on an accruals basis and where incurred directly to further the charity's charitable objectves is shown under the heading of direct charitable expenditure

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.

(e) No amounts are included in the financial statements for services donated by

volunteers.

the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters.

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WALTHAM FOREST RACE EQUALITY COUNCIL (WFREC)

Notes to the Financial Statement for the year ended 31st March 2025

(f) Tangible fixed assets- Tangible fixed asssets are stated at cost less depreciation. Depreciation is provided on a straight line basis over the useful life of the asset Furniture & Fittings -Capitalised if individual value is more than £500 25% Equipment Computers 25%. Full Depreciation is provided in the year of purchase Grant Equipments are capitalised and depreciated according to terms and conditions of the grant.Where they are not specified, the Grant equipments are to be capitalised at 25%

are to be capitalised at 25%25%
2.
Incoming Resources
Unrestricte Restricted Total Total
2024/25 2023/24
2.(a) Grants £ 5 £ £
Sports England - 11,630 11,630 15,000
London Community Foundation - - - 10,000
LB Waltham Forest - 315 315 .
National lotteries- Awards for All 10,000 10,000 10,000
W G Edwards - - 1,000
Total Grants - 22,005 22,005 36,000
2 (a)
Donations & Similar Income		 3,150 - 3,150 -
2 (b)Activities forGeneratingIncome
Subscriptions - - - >
Immigration Case Work - - -
Total - - - -
Other Income - - - -
Investment Income
Bank Interest - - - =
Total Income 3,150 22,005 25,155 36,000
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3. Resources Expendedasshown in thestatements ofFinancialActivities
(a)CostofCharitableActivities byfundtype
Unrestrict Restricted Total Total
2024/25 2023/24
£ £ £ £
Restricted - 18,354 18,354 29,809
Unrestricted 300 - 300 300
Total 300 18,354 18,654 30,109
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WALTHAM FOREST RACE EQUALITY COUNCIL (WFREC) Notes to the Financial Statement for the year ended 31st March 2025 3.(b) Resources Expended as shown In the statements of Financial Activities

Cost of Charitable Activities by Activity type

Direct Support
Cost Cost 2024/25 2023/24
Total Total
i £ £ £
Restricted 13,594 4,710 18,304 29,659
Unrestricted - 350 350 450
13,594 5,060 18,654 30,109
3.(b) Direct Costs 2024/25 2023/24
£ £
Support Services 2,710 1,724
Training - LITO
Project Management 800 9,600
Exercises/Health & Wellbeing 4,190 2,390
Venue Hire 2,100 2,100
Cost ofLiving - 1,854
Registration - 367
Volunteers 970 475
Food& Provisions 500 1,377
Outings - 450
Depreciation 1,424 1,424
Publicity
& Website		 900 -
13,594 22,871
3.(c¢)Support Costs
Costs forGeneratingFunds 2,286 4,680
Rent 1,813 1,395
Office Consumables - 13
Stationery - 10
Telephone 347 326
Insurance 264 254
Sundry Expenses - 50
4,710 6,788
3.(d) Governance
Accounts//ndependent Examination 350 350
Othergovernance costs - 100
350 350
TotalSupport& Governance Costs 5,060 7,138
TotalResourcesExpended 18,654 30,009

Governance costs are cost of accounts scrutiny, professional advice, costs of legal advice on governance issues and trustees meetings and expenses.

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WALTHAM FOREST RACE EQUALITY COUNCIL (WFREC)

Notes to the Financial Statement for the year ended 31st March 2025

4.Creditors 2024/25 2023/24
Accruals -Accounts 330 300
Activities ~ -
Unearned/Deferred Income 10,000 -
10,330 300
5.Independent Examiner's remuneration
Independent Examination 300 200
300 200

6 Analysis of Movement In funds

As at As at
Restricted Funds 01/04/2024 Incoming Outgoings 31/03/2025
£ £ £ £
Grant Income 11,536 25,155 18,305 18,386
11,536 25,155 18,305 18,386
Un Restricted Funds
General 21,178 - 350 20,828
TOTAL 32,714 25,155 18,655 39,214

6 (a) Designated Reserves

Funds earmarked by trustees for specific purposes, allowing for strategic investment while maintaining operational resilience against unexpected income drops or rising costs.

7.Surplus/(deficit) for the year is after changing

7.Surplus/(deficit) for the yearthe yearyear is after changingchanging
£ £
Accounts & Independent Examination 330 450
Depreciation 1,424
1,754		 1,424
1,874
8.Analysisofnetassets between Funds
2024/25 2023/24
£ £
Fixed Assets 1,423 2,847
Debtors - -
Cash at Bank and in hand 48,122 30,168
Less Creditors (10,330) (300)
39,214 32,715

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WALTHAM FOREST RACE EQUALITY COUNCIL (WFREC)

Notes to the Financial Statement for the year ended 31st March 2025

9.Analysis of Net Assets by fund

9.Analysis of Net AssetsNet AssetsAssets by fundfund
2024/25
General Designated __Restricted Total
£ £ £ £
FixedAssets - - 1,422 1,422
Currents Assets 24,309 10,000 13,814 48,123
Less Current Liabilities (10,330) - - (10,330)
13,979 10,000 15,236 39,214
2024/25 2023/24
£ £
10.Cash Balances
Cash atBank 48,122 38,172
Cash at Hand- Petty Cash - 3
TotalCash 48,122 38,175
11.Tangible FixedAseets Computers Total
Cost £ £
Asat1/04/2024 po lic g ViLLE
Additions = =
At31/03/2025 ype Ba yffs
Depreciation
As at1/04/2024 4,271 2,847
Additions 1,424 1,424
W/F - -
At 31/03/2025 5,695 4,271
Net book Values
As at1/04/2024 2,846 2,846
At31/03/2025 1,422 2,846
13.Employees
StaffEmoluments
Salariesand casualstaff 800 7,503
800 7,503
Avarage Employees During the Year
FullTimeEquivalent 0.5 0.5

14.Contigencies and contractual commitments

In the opinion of the trustees, at 31 March 2025, there were no contigency liabilities or benefits during the year other than rental payments.

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