REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
TOWER HAMLETS PARENTS CENTRE |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
TOWER HAMLETS PARENTS CENTRE |
TOWER HAMLETS PARENTS CENTRE |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 March 2024 |
Page |
Report of the Trustees | 1 | to | 5 |
Report of the Independent Auditors | 6 | to | 9 |
Statement of Financial Activities | 10 |
Balance Sheet | 11 |
Notes to the Financial Statements | 12 | to | 21 |
TOWER HAMLETS PARENTS CENTRE (REGISTERED NUMBER: 03246084) |
REPORT OF THE TRUSTEES |
for the year ended 31 March 2024 |
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 2024. The trustees have adopted the provisions of 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). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The objects of the charity are as follows: |
Aims: |
The Tower Hamlets Parents Centre (THPC) is a registered charitable educational organisation based in the London Borough of Tower Hamlets. The Centre is a focus for education, training, advice and support for parents, guardians and/or carers of children. It provides a range of services and activities for parents/families in order to enable them to gain new knowledge, skills and confidence to increase involvement and participation in their children's education and to fulfil their roles as parents functioning as a successful 'family unit'. It provides support for parents/families in accessing services and organises programmes of activities encouraging inclusion, participation and connection in order to build stronger communities. |
Objectives: |
To encourage active parental participation in their children's education. |
To provide Language classes for local women/mothers to improve their language, literacy and communication skills. |
To provide advice and information for children, parents/families to improve choice and access to education. |
To support parents/families in handling of their children's admissions and secondary transfer process. |
To provide education/training for parents to enable them to bring up their families successfully. |
To work with truants and children with behavioural problems and their families to prevent exclusions. |
To support excluded children to remain in and complete their education. |
To liaise with other organisations in Tower Hamlets doing similar or complimentary work. |
To provide a safe and user-friendly environment where parents can meet to share mutual problems and experiences. |
To provide Homework Support Sessions for local children to improve their attainment. |
TOWER HAMLETS PARENTS CENTRE (REGISTERED NUMBER: 03246084) |
REPORT OF THE TRUSTEES |
for the year ended 31 March 2024 |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
Principal Activities and Review |
1. ICT Classes for Women: We provided ICT Classes and Career Support to 2 Cohorts totalling 20 BAME Women, in order to enable them to develop their Skills. The Classes covered a variety of Areas including Computer Basics, using Email and Internet, Online Shopping and accessing Welfare and Benefits (20 women helped). |
2. ESOL Tuition for Women: Two Sessions of formal accredited ESOL Entry Level 1 or Entry Level 2 Tuition were delivered each week for unemployed Women for 40 weeks. The learning was Practical and designed to help them to integrate into the Community (32 women helped). |
3. Career Support for Women: Weekly Employment Sessions for 40 weeks were run to help Women prepare for and enter work. They included Careers Guidance and ongoing motivation, CV and Application Writing Sessions, Interview Training and Job Search (51women helped). |
4. Women affected by Domestic Violence: We provided Advice, Information and Emotional Support to Victims, ensuring their safety and referring them to Emergency Services (21 women helped). |
5. Advice/Information on Financial Issues: We organised a 3 hour weekly Drop-in Session on Financial Issues. Beneficiaries received early Intervention on Issues such as Debt Repayment, Crisis Assistance through linking them with Food Banks, accessing eligible Welfare Benefits and Advocating for this (58 people helped). |
6. Accessing Housing and Welfare Benefits: We helped local People to access or sustain Housing through liaising with the Council's Housing Team, helping them access private Accommodation, helping with Housing Benefits, Universal Credit and Rent Arrears (83 people helped). |
7. Homework Club: Led by a qualified and experienced Tutor, we provided a 3 hourly Session per week for local Children of 7-12 years, supporting them to improve their Reading and Writing and Numeracy Skills and assisted them to do their Homework to improve attainment (20 children helped). |
8. Advice and Information Session on Educational Issues: We organised a 3 hourly Session per week, providing Advice and Information on Admissions, Secondary Transfers and other Educational Issues (87 children helped). |
9. Casework Supporting Truants and Excluded Children: We undertook Casework on Educational Issues such as School Admissions, Secondary Transfers and Exclusions, representing Children and Families in Appeal Hearings (17 children helped). |
10. Summer Holiday Activities: We delivered a Programme of Activities and Events for local Children and Families from deprived Ethnic Minority backgrounds, during the Summer Holiday-2023. Activities included Learning Sessions on Poetry, Reading and Writing, Arts and Crafts, Film Show and Games (75 children helped). |
11. Local trips: We organised four local Trips for Young People to local Parks, Idea Store, Whitechapel Art Gallery and Stolen Space Gallery to broaden their horizons (72 children helped). |
12. Outreach and Home Visits to Elderly People: We provided Outreach and Home Visits to Isolated, Lonely Elderly People and people with disabilities to improve their participation, mobility and quality of life. Our Outreach Worker provided support to these Beneficiaries by linking with THPC and other Agencies' Events and Services (55 people helped). |
13. Walking Group: We organised a weekly Walking Session for 2 cohorts of elderly women, over a period of 24 weeks (12+11=23 women attended). |
14. Singing and Music Session: We organised a Singing and Music Club for a Group of 15 women, over a period of 18 weeks (15 women attended). |
15. Tea/Coffee Mornings: We organised a weekly Tea/Coffee Morning for 24 women, over a period of 24 weeks (24 women attended). |
TOWER HAMLETS PARENTS CENTRE (REGISTERED NUMBER: 03246084) |
REPORT OF THE TRUSTEES |
for the year ended 31 March 2024 |
16. Get Together for Elderly Women: We organised a Get Together for Elderly Women in August 2023, (41 women attended). |
17. Advice and Information on Health Issues: We organised a Drop-in Session on Health Issues for 42 weeks, providing Advice and Information on Health Issues, supporting Beneficiaries to access Statutory Health Services such as GPs. where necessary, providing Interpretation Support (77 people helped). |
18. Yoga/Mindfulness Sessions for Women: We organised a Yoga and Mindfulness Session per week for two Cohorts of 20 Women, over a period of 24 weeks (20 women attended). |
19. Exercise/Fitness Sessions for Women: We delivered an hourly Exercise and Fitness Session per week for three Cohorts totalling 36 Women (36 people helped). |
20. Health Workshops: We organised six Workshops, each two hours in duration, for women to raise their awareness of Health Issues such as Obesity, Breast Cancer, Respiratory Illnesses, Diabetes, Mental Health, Hyper-tension and Screening (60 people helped). |
21. Volunteering Opportunities: The Parents Centre offered Volunteering Opportunities to five young women, supporting them to familiarise with the World of Work to develop their confidence, experience and discipline, in order to enable them to progress onto Employment (5 people helped). |
22. Inter-generational Sports Day: We organised an Inter-generational Sports Day in August 2023, for local residents and families, to participate in Sports and Games, among their different generations (267 people helped). |
23. Multi-Cultural Event: We organised a Multi-Cultural Event in July 2023, in order to encourage beneficiaries to socialise and interact with People of other ethnic backgrounds, to promote understanding and Community Cohesion (251 people helped). |
24. Consultation with beneficiaries: We organised 2 Consultation Meetings with our Beneficiaries with a view to ascertaining their needs, in the current climate of Cost-of-Living Crisis and dramatic increase in Energy Costs, in order to address these needs and support Beneficiaries appropriately and effectively (97 people helped). |
For 2023/24, the Parents Centre has worked with over 1,507 beneficiaries (parents and children). |
FINANCIAL REVIEW |
Investment policy and objectives |
Under its Memorandum of Association the charity has power to invest in any way the trustees wish. |
Reserves policy |
The trustees have established the level of reserves (that is those funds that are freely available) that the charity ought to have. Reserves are needed to bridge the funding gaps between spending on activities and receiving resources through voluntary grants. The trustees consider that the ideal level of reserves as at 31 March 2024 would be three months of resources expended which equates to £22,144. |
The actual reserves as at 31 March 2024 was £22,144 less than our target figure. In calculating the reserves, the trustees have excluded from total funds the restricted income funds (£17,277). |
The trustees are actively pursuing sources of funding in order to ensure that there are sufficient reserves to provide to financial stability and flexibility. |
FUTURE PLANS |
Tower Hamlets Parents Centre will continue to expand and develop its activities to provide encouragement for active parental participation in their children's education. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
Tower Hamlets Parents Centre is a charitable company limited by guarantee and is governed by its Memorandum and Articles of Association. |
TOWER HAMLETS PARENTS CENTRE (REGISTERED NUMBER: 03246084) |
REPORT OF THE TRUSTEES |
for the year ended 31 March 2024 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Recruitment and appointment of new trustees |
New trustees are appointed due to their interest in the work of the charity and their recognised experience in specific fields which will further support the work of the Tower Hamlets Parent Centre. |
Organisational structure |
The board of trustees administers the charity. The board meets quarterly. |
Induction and training of new trustees |
New trustees are appointed due to their interest in the work of the charity and their recognised experience in specific fields which will further support the work of Tower Hamlets Parents Centre. New trustees are given a full induction by the director. Trustees can retire when they wish as they do not serve under a fixed term of tenure. |
Wider network |
At present Tower Hamlets Parents Centre does not consider itself part of a wider network. |
Related parties |
Tower Hamlets Parents Centre has no tied organisations or companies. |
Risk management |
The trusteess have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Company Secretary |
Auditors |
Chartered Certified Accountants |
19-20 Bourne Court |
Southend Road |
Woodford Green |
Essex |
IG8 8HD |
TOWER HAMLETS PARENTS CENTRE (REGISTERED NUMBER: 03246084) |
REPORT OF THE TRUSTEES |
for the year ended 31 March 2024 |
PUBLIC BENEFIT STATEMENT |
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aim and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set. |
STATEMENT OF TRUSTEES' RESPONSIBILITIES |
The trustees (who are also the directors of Tower Hamlets Parents Centre 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. |
In so far as the trustees are aware: |
- | there is no relevant audit information of which the charitable company's auditors are unaware; and |
- | the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. |
AUDITORS |
The auditors, Raffingers LLP, Statutory Auditor, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
Approved by order of the board of trustees on |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
TOWER HAMLETS PARENTS CENTRE |
Opinion |
We have audited the financial statements of Tower Hamlets Parents Centre (the 'charitable company') for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
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 the provisions available for small entities, in the circumstances set out in note 16 to the financial statements, 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: |
- | the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Report of the Trustees has been prepared in accordance with applicable legal requirements. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
TOWER HAMLETS PARENTS CENTRE |
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: |
- | adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of trustees' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit; or |
- | the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. |
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. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
TOWER HAMLETS PARENTS CENTRE |
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. |
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: |
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; |
- we identified the laws and regulations applicable to the charitable company through discussions with management and from our commercial knowledge and experience of the charity sector; |
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the association, including the Companies Act 2006, Charities Act 2011, Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the United Kingdom and Republic of Ireland (FRS 102) (effective 1 January 2019), Trustees Act, Bribery Act, Health and safety legislation and data protection; |
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence if available; and |
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. |
We assessed the susceptibility of the charity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: |
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and |
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations, including the ones that ensure that the grants are used for intended purposes. |
To address the risk of fraud through management bias and override of controls, we: |
- performed analytical procedures to identify any unusual or unexpected relationships; |
- tested donations received and grant received for accuracy and completeness; |
- tested journal entries to identify unusual transactions if any; |
- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and |
- investigated the rationale behind significant or unusual transactions. |
To address the risk that revenue could be misstated due to fraud. we: |
- we obtained an understanding of the company's revenue recognition policies and compared these to the accounting standard; |
- performed a walkthrough to confirm our understanding of the processes and controls through which the business initiates, records, processes and reports revenue transactions; |
- tested a sample of revenue transactions to supporting evidence. |
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: |
- agreeing financial statement disclosures to underlying supporting documentation; |
- reading the minutes of meetings of those charged with governance; |
- enquiring of management as to actual and potential litigation and claims. |
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
TOWER HAMLETS PARENTS CENTRE |
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. |
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. |
for and on behalf of |
Chartered Certified Accountants |
Southend Road |
Woodford Green |
Essex |
IG8 8HD |
TOWER HAMLETS PARENTS CENTRE |
STATEMENT OF FINANCIAL ACTIVITIES |
for the year ended 31 March 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
EXPENDITURE ON |
Charitable activities | 3 |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 40,350 |
TOWER HAMLETS PARENTS CENTRE (REGISTERED NUMBER: 03246084) |
BALANCE SHEET |
31 March 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 10 |
CURRENT ASSETS |
Debtors | 11 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 12 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 14 |
Unrestricted funds | 6,733 |
Restricted funds | 33,617 |
TOTAL FUNDS | 40,350 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
TOWER HAMLETS PARENTS CENTRE |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 March 2024 |
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. |
Assessment of going concern |
The trustees, having made appropriate enquiries, consider that adequate resources exist for the charity to continue in operational existence for the foreseeable future and that, therefore, it is appropriate to adopt going concern basis in preparing the financial statements as at and for the year ended 31 March 2024. The trustees have made this assessment in respect to a period of one year from the date of approval of these accounts. |
The trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due. |
Undoubtedly there will be challenges ahead but the trustees do not expect material concerns to arise over the charity's financial position or going concern. |
Critical accounting judgements and key sources of estimation uncertainty |
Preparation of the accounts requires the trustees and management to make significant judgements and estimates. |
The items in the accounts where these judgements and estimates have been made include: |
- estimating the useful economic life of tangible fixed assets. |
- allocation of support costs across charitable activities. |
Income |
All 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. |
Grant income |
Government grants, including non-monetary grants shall not be recognised until there is reasonable assurance that: |
(a) the entity will comply with the conditions attached to them; and |
(b) the grants will be received. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Charitable activities |
Charitable activities comprise those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. |
Governance costs |
Governance costs comprise those costs associated with meeting the constitutional and strategic requirements of the charity and the audit fees and costs linked to the strategic management of the charity. |
Allocation and apportionment of costs |
Overhead and support costs relating to charitable activities have been apportioned based on staff time. |
TOWER HAMLETS PARENTS CENTRE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2024 |
1. | ACCOUNTING POLICIES - continued |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Fixtures and fittings | - |
Computer equipment | - |
Taxation |
The company is considered to pass the tests set out in Sch. 6, para. 1 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Pt. 11, Ch. 3 of the Corporation Tax Act 2010 or s. 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.charity |
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. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
Cash at bank and in hand and debtors |
Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition. Deposits for more than three months but less than one year have been disclosed as short term deposits. |
Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted to be present value of the future cash receipt where such discounting is material. |
Creditors and provisions |
Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the moment the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payments where such discounting is material. |
2. | DONATIONS AND LEGACIES |
2024 | 2023 |
£ | £ |
Donations |
Grants |
Sundry income | 5 | 18 |
TOWER HAMLETS PARENTS CENTRE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2024 |
2. | DONATIONS AND LEGACIES - continued |
Grants received, included in the above, are as follows: |
2024 | 2023 |
£ | £ |
London Borough of Tower Hamlets | 9,320 | - |
The Mercers' Company | 19,053 | 30,874 |
BBC Children in Need Appeal | - | 14,703 |
Wakefield & Tetley Trust | 2,500 | - |
Garfield Weston Foundation | - | 10,000 |
The Hale Trust | - | 700 |
City Bridge Trust/City of London Corporation | 16,000 | - |
The National Lottery Community Fund | 9,875 | - |
29th May 1961 Charitable Trust | 2,000 | 2,000 |
Woodward Charitable Trust | 750 | - |
The Magdalen Hospital Trust | 500 | - |
The Worship Company of Insurers Charitable Trust | 2,000 | - |
Paddington Development Trust | - | 9,446 |
The Foyle Foundation | 7,000 | - |
Cliford Chance LLP | - | 4,000 |
Wapping Bangladesh Association | 2,252 | - |
71,250 | 71,723 |
3. | CHARITABLE ACTIVITIES COSTS |
Support |
Direct | costs (see |
Costs | note 4) | Totals |
£ | £ | £ |
Education,training and advice | 41,057 | 40,117 | 81,174 |
Governance cost | - | 15,404 | 15,404 |
41,057 | 55,521 | 96,578 |
4. | SUPPORT COSTS |
Governance |
Management | Finance | costs | Totals |
£ | £ | £ | £ |
Education,training and advice | 35,554 | 93 | 4,470 | 40,117 |
Governance cost | 11,804 | - | 3,600 | 15,404 |
47,358 | 93 | 8,070 | 55,521 |
TOWER HAMLETS PARENTS CENTRE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2024 |
5. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2024 | 2023 |
£ | £ |
Auditors' remuneration | 1,800 | 1,800 |
Depreciation - owned assets |
6. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. |
7. | STAFF COSTS |
2024 | 2023 |
£ | £ |
Wages and salaries |
55,019 | 45,167 |
The average monthly number of employees during the year was as follows: |
2024 | 2023 |
Charitable expenditure | 3 | 2 |
Administration | 1 | 1 |
8. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
EXPENDITURE ON |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
TOWER HAMLETS PARENTS CENTRE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2024 |
8. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
RECONCILIATION OF FUNDS |
Total funds brought forward | 6,733 | 43,681 |
TOTAL FUNDS CARRIED FORWARD | 6,733 | 33,617 | 40,350 |
9. | DEFERRED INCOME |
Deferred income comprised of grants from several institutions. Income deferred in the current year relates to grants received from institutions for use in future accounting periods. |
Balance as at 1 April 2023 | - |
Amount released to incoming resources | - |
Amount deferred in the year | 2,500 |
Balance as at 31 March 2024 | 2,500 |
10. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 April 2023 and 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
TOWER HAMLETS PARENTS CENTRE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2024 |
11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Prepayments | 2,260 | 2,260 |
2,260 | 2,,260 |
12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Accruals and deferred income | 11,367 | 9,391 |
11,367 | 9,391 |
13. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
14. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.4.23 | in funds | 31.3.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 6,733 | (6,733 | ) | - |
Restricted funds |
Restricted fund | 33,617 | (16,340 | ) | 17,277 |
TOTAL FUNDS | (23,073 | ) | 17,277 |
TOWER HAMLETS PARENTS CENTRE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2024 |
14. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 2,256 | (8,989 | ) | (6,733 | ) |
Restricted funds |
Restricted fund | 71,249 | (87,589 | ) | (16,340 | ) |
TOTAL FUNDS | ( |
) | (23,073 | ) |
Comparatives for movement in funds |
Net |
movement | At |
At 1.4.22 | in funds | 31.3.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 6,733 | - | 6,733 |
Restricted funds |
Restricted fund | 43,681 | (10,064 | ) | 33,617 |
TOTAL FUNDS | 50,414 | (10,064 | ) | 40,350 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 9,517 | (9,517 | ) | - |
Restricted funds |
Restricted fund | 71,724 | (81,788 | ) | (10,064 | ) |
TOTAL FUNDS | 81,241 | (91,305 | ) | (10,064 | ) |
TOWER HAMLETS PARENTS CENTRE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2024 |
14. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.4.22 | in funds | 31.3.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 6,733 | (6,733 | ) | - |
Restricted funds |
Restricted fund | 43,681 | (26,404 | ) | 17,277 |
TOTAL FUNDS | 50,414 | (33,137 | ) | 17,277 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 11,773 | (18,506 | ) | (6,733 | ) |
Restricted funds |
Restricted fund | 142,973 | (169,377 | ) | (26,404 | ) |
TOTAL FUNDS | 154,746 | (187,883 | ) | (33,137 | ) |
Net movement in funds, included in the above are as follows: |
Restricted funds - 2024 |
Incoming resources |
Resources expended |
Movement in funds |
£ | £ | £ |
ESOL classes for women | 15,322 | 15,322 | - |
- |
Health and well being project | 9,875 | 9,875 | - |
Women health matters | 2,000 | 3,724 | (1,724 | ) |
Digital inclusion project | 4,000 | 5,000 | (1,000 | ) |
Study support | 5,500 | 6,500 | (1,000 | ) |
Welfare advice | 1,500 | 1,500 | - |
Outreach with elderly people | 19,053 | 19,053 | - |
Summer programme | 4,000 | 4,000 | - |
Premises rental cost | 10,000 | 22,616 | (12,616 | ) |
TOWER HAMLETS PARENTS CENTRE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2024 |
14. | MOVEMENT IN FUNDS - continued |
71,250 | 87,590 | (16,340 | ) |
Restricted funds - 2023 |
Incoming resources |
Resources expended |
Movement in funds |
£ | £ | £ |
Early intervention project | 14,703 | 14,703 | - |
Community celebration project | - | 2,900 | (2,900 | ) |
Women into employment | 9,446 | 9,446 | - |
Summer programme | 6,700 | 6,700 | - |
ICT classes for disadvantaged women | - | 4,500 | (4,500 | ) |
Women health matters | - | 2,664 | (2,664 | ) |
Outreach elderly people | 30,784 | 30,784 | - |
Premises rental cost | 10,000 | 10,000 | - |
71,723 | 81,787 | (10,064 | ) |
Name of fund | Description, nature and purpose for the fund |
Health matters 2 programme | To provide services and to deliver activities including Outreach Support, Health Advocacy, Workshops on Health issues, Fitness Exercise and Swimming Sessions, Nutrition and Cookery Class, Healthy Food Exhibition and Workshops on Smoking and Paan Cessation and Cervical Screening. |
Well being and mental health project |
To provide a range of services in order to reduce inequalities in health by improving physical and mental health of disadvantage ethic minority communities. |
Early Intervention Project | To provide mentoring support to the children who were poorly performing with regard to Truancy and Exclusion and showed signs and at risk of school failure. Homework Club was also delivered on Saturdays. |
ICT classes for disadvantage women |
To provide ICT embedded with ESOL classes to improve women's literacy and ICT skills. |
The Covid- 19 Project | To support elderly and vulnerable people. |
Community celebration events | To promote community cohesion. |
Home visiting project | To deliver home visit to vulnerable and elderly people. |
Women into Employment | To provide ESOL classes and career support to unemployed women. |
Summer programme | To deliver programmes of activities and events for local children and families during summer holiday. |
Outreach with elderly people | To support elderly people at home. |
TOWER HAMLETS PARENTS CENTRE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2024 |
14. | MOVEMENT IN FUNDS - continued |
Premises rental cost | To finance the rental cost of the centre. |
Digital inclusion project | To deliver ICT classes for women. |
Study support | To deliver study support classes for children. |
Women health matters | To provide advice information on health issues. |
Restricted funds represent funds which have been given for particular purposes in connection with the provision of advice, education, training and support in line with the charity's objectives. |
Unrestricted funds represents funds available to the trustees for the general purposes of the charity. |
15. | RELATED PARTY DISCLOSURES |
There were no related party transactions for the years ended 31 March 2024 and 31 March 2023. |
16. | FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES |
In common with many other businesses of our size and nature we use our auditors to assist with the preparation of the financial statements. |
17. | AUDITOR LIABILITY LIMITATION AGREEMENT |
The charity has entered into a liability limitation agreement with Raffingers LLP, the statutory auditor, in respect of the statutory audit for the year ended 31 March 2024. The proportionate liability agreement follows the standard terms in Appendix B to the Financial Reporting Council's June 2008 Guidance on Auditor Liability Agreements, and was approved on 21 October 2024. |
18. | DONATIONS |
2024 | 2023 |
£ | £ |
Rowan Bentall Charitable Trust | 250 | - |
The Worshipful Company of Coopers | - | 1,500 |
Archers Trust | - | 2,000 |
Souter Charitable Trust | - | 2,000 |
Hale Trust | 1,000 | - |
The Albert Trust | - | 2,000 |
The Bacthworth Trust | - | 2,000 |
Worshipful Company of Gold and Silver Wyre | 1,000 | - |
2,250 | 9,500 |