REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 |
FOR |
COMMUNITY OF REFUGEES FROM VIETNAM |
- EAST LONDON |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 |
FOR |
COMMUNITY OF REFUGEES FROM VIETNAM |
- EAST LONDON |
COMMUNITY OF REFUGEES FROM VIETNAM |
- EAST LONDON |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
Page |
Reference and administrative details | 1 |
Report of the trustees | 2 | to | 6 |
Independent examiner's report | 7 |
Statement of financial activities | 8 |
Statement of financial position | 9 |
Notes to the financial statements | 10 | to | 15 |
COMMUNITY OF REFUGEES FROM VIETNAM |
- EAST LONDON |
REFERENCE AND ADMINISTRATIVE DETAILS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
TRUSTEES |
COMPANY SECRETARY | Mrs Bich Thi Nguyen |
REGISTERED OFFICE |
REGISTERED COMPANY NUMBER |
REGISTERED CHARITY NUMBER |
INDEPENDENT EXAMINER | Leroy Reid & Co |
Chartered Certified Accountants |
and Statutory Auditors |
299 Northborough Road |
Norbury |
London |
SW16 4TR |
COMMUNITY OF REFUGEES FROM VIETNAM |
- EAST LONDON (REGISTERED NUMBER: 03783360) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31ST 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 31st 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 Charity's object and principal activity continues to be: |
1. To promote any charitable purpose for the benefit of those who live and/or work in the Vietnamese Community in East London who are in need, hardship or distress, |
2. To provide services that will improve the quality of life of the Vietnamese community. |
3. To assist th community to integrate into the local community and to contribute to the common goods. |
4. To advance learning in the community and to interact with communities in the United Kingdom with a view to promote and preserve traditional Vietnamese Culture. |
COMMUNITY OF REFUGEES FROM VIETNAM |
- EAST LONDON (REGISTERED NUMBER: 03783360) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31ST MARCH 2024 |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
This year, we have continued to support and uplift our community through a variety of essential projects and services. Our core programs, including the Elderly Luncheon Club, Advice Service, and Homecare Service, are designed to foster connection, well-being, and empowerment. |
Key Highlights of 2023-2024 |
- 60+ members actively participating in our Elderly Luncheon Club. |
- 100 members supported weekly through our Advice Service. |
- 8 individuals receiving personalized Homecare, with 60 hours of support delivered each week. |
Launch of new workshops focused on dementia and Alzheimer's awareness. |
Our Projects and Services |
1. Elderly Luncheon Club |
The Elderly Luncheon Club, supported by £25,000 annually from Tower Hamlets Council (November 2023-March 2026), is the cornerstone of our community engagement. Operating every Monday and Friday from 9:00 a.m. to 3:30 p.m. at the Dockland Settlement Centre in Isle of Dogs, the club welcomes an average of 40 attendees per session. |
Members enjoy a variety of engaging and inclusive activities that promote social connection, physical health, and lifelong learning, including: |
- Tai Chi exercises |
- Table tennis and indoor games |
- Ballroom dancing |
- Cooking classes |
- IT literacy classes |
- Yoga sessions |
- Seasonal walking exercises |
- Summer outing trips |
- Monthly dementia and Alzheimer's activities |
- Health information workshops |
- Lunar New Year celebrations |
These activities not only enhance physical and mental well-being but also inspire a sense of belonging and purpose. |
"The Luncheon Club is more than a place to meet; it's where I've found friends and rediscovered my love for dancing."-Luncheon Club member |
2. Advice Service |
Funded by Tower Hamlets Council with £20,000 annually (November 2023-March 2026), our Advice Service operates five days a week to provide critical support for 100 members aged 55 and above. |
The drop-in center opens every Friday to accommodate immediate needs. |
Appointments are available from Monday to Thursday for personalized guidance. |
Key offerings include: |
- IT classes to enhance digital literacy and access |
- Benefits workshops to help members understand entitlements and resources |
By addressing practical challenges, the Advice Service empowers members to make informed decisions and improve their quality of life. |
COMMUNITY OF REFUGEES FROM VIETNAM |
- EAST LONDON (REGISTERED NUMBER: 03783360) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31ST MARCH 2024 |
"Thanks to the advice sessions, I now feel more confident navigating online resources and claiming the benefits I'm entitled to."-Advice Service user |
3. Homecare Service |
Our Homecare Service provides essential, tailored support to 8 individuals, delivering an average of 60 hours of care per week. This service helps our members maintain their independence and well-being in the comfort of their own homes. |
From personal care to household assistance, the Homecare Service ensures that every individual receives the care they need to thrive. |
4. Impact and Future Goals |
Through these initiatives, we have witnessed the transformative power of community support. By combining social, practical, and emotional resources, we aim to ensure that our members feel valued, connected, and empowered. |
As we move forward, we remain committed to: |
- Expanding our membership to reach more individuals in need. |
- Introducing new activities to reflect the evolving needs of our community. |
- Strengthening partnerships with funders and organizations to sustain and grow our programs. |
We continue to collaborate with key partners such as Tower Hamlets Dementia and Alzheimer's Service, Island Advice Centre, Age UK, Toynbee Hall, Tower Hamlets Carers Centre, Greenwich Vietnamese Women's Group, Refuge, and others to maximize our impact. |
5. Acknowledgements |
We extend our deepest gratitude to Tower Hamlets Council for their generous support, which makes our Elderly Luncheon Club and Advice Service possible. We are also immensely thankful for the dedication and passion of our staff, volunteers, and trustees. |
Together, we will continue building a thriving, inclusive, and supportive community for Vietnamese elders in East London. |
FINANCIAL REVIEW |
Financial position |
The trustees are satisfied with the performance of the charity for the year under review. The charity reported a deficit of £22,380 (2023 - £16,039) and reserves of £170,834 (2023 - £193,214). |
Principal funding sources |
We extend our deepest gratitude to Tower Hamlets Council for their generous support, which makes our Elderly Luncheon Club and Advice Service possible |
Reserves policy |
The charity follows the guidance laid down by the Charity Commission as we seek to maintain adequate levels of reserves to meet the charity's needs if so required. The reserves held as at the year end was £170,834 (2023 - £193,214). |
Going concern |
The trustees are of the opinion that with the reserves held at the year end the charity would be able to deliver adequate services for the next 12 months and that the financial statements should be prepared on a going concern basis. |
FUTURE PLANS |
The charity will strive to indentify new partners within the local authority and other private grant making institution who supportive of the objectives of the charity and are perepared to provide financial support.. |
COMMUNITY OF REFUGEES FROM VIETNAM |
- EAST LONDON (REGISTERED NUMBER: 03783360) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31ST MARCH 2024 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
Organisational structure |
The organisation is a charitable company limited by guarantee, incorporated on 7 June 1999 and registered as a charity on 10 April 2000. 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 the company being wound up members are required to contribute an amount not exceeding £1. |
Induction and training of new trustees |
Most trustees are already familiar with the practical work of the charity. Additionally, new trustees are invited and encouraged to attend a series of short training sessions to familiarise themselves with the charity and the context within which it operates. |
These are jointly led by the Chair of the Management Committee of the charity and cover: |
- | The obligation of the Management Committee members. |
- | The main documents which set out the operational framework for the charity including the Memorandum and Articles. |
- | Resourcing and the current financial position as set out in the latest published accounts. |
- | Future plans and objectives. |
The charity is organised so that the trustees meet regularly to manage its affairs. There are two full time administrators, who are responsible for the day to day administration of the charity and organising fundraising activities. The remaining staff are employed at the centre and also assist with fundraising as appropriate. We are also grateful to volunteer from various sources who assist with the elderly. |
STATEMENT OF TRUSTEES' RESPONSIBILITIES |
The trustees (who are also the directors of Community of Refugees From Vietnam - East London 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". |
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. |
Approved by order of the board of trustees on |
COMMUNITY OF REFUGEES FROM VIETNAM |
- EAST LONDON (REGISTERED NUMBER: 03783360) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31ST MARCH 2024 |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
COMMUNITY OF REFUGEES FROM VIETNAM |
- EAST LONDON |
Independent examiner's report to the trustees of Community of Refugees From Vietnam - East London ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st March 2024. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. |
Ebenezer Okai, Bsc, FCCA |
Leroy Reid & Co |
Chartered Certified Accountants |
and Statutory Auditors |
299 Northborough Road |
Norbury |
London |
SW16 4TR |
2nd December 2024 |
COMMUNITY OF REFUGEES FROM VIETNAM |
- EAST LONDON |
STATEMENT OF FINANCIAL ACTIVITIES |
FOR THE YEAR ENDED 31ST MARCH 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
Charitable activities | 4 |
Investment income | 3 |
Total |
EXPENDITURE ON |
Raising funds | 5 |
Charitable activities | 6 |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 193,214 |
COMMUNITY OF REFUGEES FROM VIETNAM |
- EAST LONDON (REGISTERED NUMBER: 03783360) |
STATEMENT OF FINANCIAL POSITION |
31ST MARCH 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 10 |
CURRENT ASSETS |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 11 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 13 |
Unrestricted funds | 193,214 |
TOTAL FUNDS | 193,214 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
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 |
COMMUNITY OF REFUGEES FROM VIETNAM |
- EAST LONDON |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST 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. |
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. |
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. |
TANGIBLE FIXED ASSETS |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Plant and machinery | - |
Fixtures and fittings | - |
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. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS |
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. |
COMMUNITY OF REFUGEES FROM VIETNAM |
- EAST LONDON |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
2. | DONATIONS AND LEGACIES |
2024 | 2023 |
£ | £ |
Donations |
Income from Meals | 12,796 | 13,962 |
Other Incomes | 3,760 | 16,408 |
3. | INVESTMENT INCOME |
2024 | 2023 |
£ | £ |
Deposit account interest |
4. | INCOME FROM CHARITABLE ACTIVITIES |
2024 | 2023 |
Charitable | Total |
activities | activities |
£ | £ |
LB Tower Hamlet Contracts - Local Community Fund |
17,491 |
32,728 |
LB of Tower Hamlets - Older People Project contract |
86,941 |
36,018 |
LB of Tower Hamlets - Covid grant | - | 6,950 |
104,432 | 75,696 |
5. | RAISING FUNDS |
RAISING DONATIONS AND LEGACIES |
2024 | 2023 |
£ | £ |
Food and supplies | 6,084 | 6,065 |
COMMUNITY OF REFUGEES FROM VIETNAM |
- EAST LONDON |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
6. | CHARITABLE ACTIVITIES COSTS |
Direct |
Costs (see |
note 7) |
£ |
Charitable activities | 139,359 |
7. | DIRECT COSTS OF CHARITABLE ACTIVITIES |
2024 | 2023 |
£ | £ |
Staff costs | 95,339 | 75,264 |
Insurance | 4,404 | 4,363 |
Travel | 2,127 | 1,450 |
Telephone, postage, printing and stationery | 361 | 121 |
Volunteers | 7,130 | 2,663 |
Premises cost | 19,022 | 21,954 |
Xmas,new year and moon festival | 8,582 | 7,771 |
Examiner's fee | 1,981 | 1,425 |
Legal and professional | 32 | 1,415 |
Bank charges | 381 | 96 |
139,359 | 116,522 |
8. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31st March 2024 nor for the year ended 31st March 2023. |
TRUSTEES' EXPENSES |
There were no trustees' expenses paid for the year ended 31st March 2024 nor for the year ended 31st March 2023. |
9. | STAFF COSTS |
2024 | 2023 |
£ | £ |
Wages and salaries |
Other pension costs |
95,339 | 75,264 |
The average monthly number of employees during the year was as follows: |
2024 | 2023 |
Direct charitable work part time | 11 | 7 |
Direct charitable work full time | 2 | 2 |
COMMUNITY OF REFUGEES FROM VIETNAM |
- EAST LONDON |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
10. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1st April 2023 and 31st March 2024 |
DEPRECIATION |
At 1st April 2023 and 31st March 2024 |
NET BOOK VALUE |
At 31st March 2024 |
At 31st March 2023 |
11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Social security and other taxes |
Other creditors |
Accrued expenses |
12. | ANALYSIS OF NET ASSETS BETWEEN FUNDS |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
£ | £ | £ | £ |
Fixed assets | 3 | - | 3 | 3 |
Current assets |
Current liabilities | ( |
) | ( |
) | ( |
) |
170,834 | - | 170,834 | 193,214 |
13. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.4.23 | in funds | 31.3.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 193,214 | (22,380 | ) | 170,834 |
TOTAL FUNDS | (22,380 | ) | 170,834 |
COMMUNITY OF REFUGEES FROM VIETNAM |
- EAST LONDON |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
13. | 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 | 18,631 | (41,011 | ) | (22,380 | ) |
Restricted funds |
Restricted fund | 104,432 | (104,432 | ) | - |
TOTAL FUNDS | ( |
) | (22,380 | ) |
Comparatives for movement in funds |
Net |
movement | At |
At 1.4.22 | in funds | 31.3.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 209,253 | (16,039 | ) | 193,214 |
TOTAL FUNDS | 209,253 | (16,039 | ) | 193,214 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 73,820 | (89,859 | ) | (16,039 | ) |
Restricted funds |
Restricted fund | 32,728 | (32,728 | ) | - |
TOTAL FUNDS | 106,548 | (122,587 | ) | (16,039 | ) |
COMMUNITY OF REFUGEES FROM VIETNAM |
- EAST LONDON |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
13. | 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 | 209,253 | (38,419 | ) | 170,834 |
TOTAL FUNDS | 209,253 | (38,419 | ) | 170,834 |
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 | 92,451 | (130,870 | ) | (38,419 | ) |
Restricted funds |
Restricted fund | 137,160 | (137,160 | ) | - |
TOTAL FUNDS | 229,611 | (268,030 | ) | (38,419 | ) |
14. | RELATED PARTY DISCLOSURES |
15. | DESIGNATED FUNDS |
The trustees of the charity have decided to designate £60,000 of the charity's unrestricted funds to cover the unintended cost for any redundancy that may arise from the impact of the pandemic. |