Charity registration number 1127300 (England and Wales)
Company registration number 6638750
VOLUNTEER CENTRE TOWER HAMLETS
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
VOLUNTEER CENTRE TOWER HAMLETS
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Karin Maschler
Leo Zawadzki
Megan Cowley
Louise Theophile
Ricardo Lobo
(Appointed 29 August 2024)
Senior management
Catherine Bavage
Chief executive officer
Charity number (England and Wales)
1127300
Company number
6638750
Registered office
Norvin House
45-55 Commercial Street
London
E1 6BD
Auditor
Kingston Burrowes Audit Ltd
308 Ewell Road
Surbiton
Surrey
KT6 7AL
Bankers
The Co-operative Bank PLC
PO Box 250
Delf House
Skelmersdale
WN8 6WT
VOLUNTEER CENTRE TOWER HAMLETS
CONTENTS
Page
Trustees report
1 - 18
Independent auditor's report
19 - 21
Statement of financial activities
22
Balance sheet
23
Notes to the financial statements
24 - 31
VOLUNTEER CENTRE TOWER HAMLETS
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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The trustees present their annual report and financial statements for the year ended 30 September 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".

Objectives and activities

Volunteer Centre Tower Hamlets (VCTH) is the recognised volunteering infrastructure agency in the London Borough of Tower Hamlets. Our charity’s objects are:

 

 

 

In forming our objectives, the trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard for the public benefit guidance published by the Charity Commission.

 

 

Mission

Our mission is to provide a comprehensive volunteering infrastructure service to non-profit groups and communities in Tower Hamlets, to increase the quality, quantity and impact of volunteering in the borough.

 

 

Core Functions

Our 5 core functions are:

 

Volunteer Brokerage – ensuring that the general public and all sectors are better informed about and have access to an effective and efficient brokerage service

 

Good Practice Development – helping organisations to improve or attain positive consistency in their volunteering programmes

 

Developing Volunteering Opportunitiesincreasing and improving the quantity, quality, and diversity of volunteering locally

 

Voice of Volunteering – creating an increased awareness of issues impacting volunteering

 

Strategic Development of Volunteeringengagement with local networks and decision-makers to create a positive environment in which volunteering is flourishing.

 

VOLUNTEER CENTRE TOWER HAMLETS
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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Achievements and performance

1. Volunteer Brokerage

 

Our brokerage service linked potential volunteers to not-for-profit organisations that needed help. We brokered people aged 16+ who lived, worked or studied in Tower Hamlets, providing them with information about suitable volunteering roles and encouraging applications. We promoted volunteering via our website, and by sending regular email alerts to individuals who registered with us and expressed an interest in starting to volunteer.

 

Although we did not offer a full employer supported volunteering (ESV) service, we provided a signposting function for companies. We received 71 enquiries from private sector companies interested in ESV and referred 65 companies to local Volunteer Involving Organisations that offered corporate team volunteering events.

 

Since 1 November 2023, Volunteer Centre Tower Hamlets has been delivering two new projects – METS and IETV - both funded by the London Borough of Tower Hamlets through the Mayor’s Community Grants Programme.

 

Minoritised Ethnic Trustees (METs) Project

The METs Project aims to increase diversity in charity leadership by supporting Tower Hamlets residents from Global Majority communities to become trustees. Participants complete a short training course on the essentials of being a trustee. Training enhances participants' knowledge and confidence in governance, preparing them for future board roles. Trainees are matched to trustee vacancies in participating charities, where they contribute their skills, lived experience and local knowledge.

 

In the first year of METs delivery:

•    24 participants successfully completed trustee training

•    18 trainees were matched with charity boards (target: 19)

•    20 of the 24 participants (83%) were women (target: 60%)

•    18 charities participated, of which 12 (67%) appointed trustees.

•    100% of survey respondents increased their knowledge of the roles and responsibilities of trustees, and 95% increased their confidence in applying for trusteeships as a result of the training, exceeding our target of 90%.

 

Improving Employability Through Volunteering (IETV)

Our Improving Employability Through Volunteering (IETV) project helps Tower Hamlets residents who are unemployed, under-employed or in unsatisfactory employment to build their skills and confidence and gain workplace experience through volunteering. The project targets excluded groups, many of who are furthest from the labour market.

 

Each year our target is to provide 120 individuals with one-to-one or group support, with at least 75% reporting increased confidence and employability skills. The aim is for 60 participants a year to start volunteering in roles that provide relevant experience for future employment.

 

To achieve these targets the project offered outreach presentations, workshops and personalised support to match individuals with suitable opportunities. Partnerships with the council’s WorkPath, New City College, Idea Stores and other key referral agencies helped to ensure that volunteering placements align with participants’ career goals. Regular monitoring tracked progress, ensuring participants gained meaningful experience. We also delivered two online workshops on ‘Filling in Volunteer Role Applications & Preparing for Volunteering Interviews’.

 

In the first year of IETV delivery:

•    129 participants were enrolled and are being supported into volunteering opportunities tailored to their interests.

•    24 volunteers have already confirmed that they have started volunteering.

 

VOLUNTEER CENTRE TOWER HAMLETS
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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VOLUNTEER CENTRE TOWER HAMLETS
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
VOLUNTEER CENTRE TOWER HAMLETS
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
VOLUNTEER CENTRE TOWER HAMLETS
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
VOLUNTEER CENTRE TOWER HAMLETS
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 7 -

Tracking

During the year we received 1,879 unique expressions of interest in the volunteer roles we advertised, compared to 1,173 in 2022-23 – a dramatic increase of 60.2%. Details of each volunteer’s interest were passed to Volunteer Managers in host organisations, and volunteers were also provided with contact details for the organisations they wished to support. We relied heavily on Volunteer Involving Organisations to contact prospective volunteers.

Tracking volunteer starters is a time-consuming exercise, and was made more challenging this year by a significantly higher number of clients. We systematically sent follow-up emails to applicants referred to roles to ask if they had started volunteering and to offer our assistance. This year we received confirmation from 67 individuals that they had begun volunteering, but this is only a very partial picture of the likely number of starters. We are increasingly looking to communicate with clients by phone calls, Zoom meeting and texts to increase data about volunteer starters.

 

2. Good Practice Development

We continued to deliver activities to build the capacity of Volunteer Involving Organisations (VIOs) to implement good practice in volunteer management. Since 1 September 2023, this work has been funded by a 3-year grant from City Bridge Foundation.

 

Volunteer Management Training

We delivered 7 half-day training courses for Volunteer Managers on Zoom. A total of 105 Volunteer Managers attended our training - an average of 15 trainees per course (up from 11.6 per course in 2022-23), demonstrating increasing demand for our free online training. Training topics were:

    Good Practice in Managing Volunteers (held twice)

    Dealing with Difficult Situations with Volunteers (held twice)

    Volunteers and the Law

    Recruiting the Right Volunteers

    Measuring the Difference your Volunteer Programme Makes

 

Two thirds of the participants (68/105) completed a post-training evaluation survey. Of these 88% (60/68) rated our training as “excellent/extremely useful” or “good/very useful”. Further, 75% of respondents told us they had progressed in terms of knowledge (51/68) and 97% of respondents (66/68) committed to making a change within their organisation or taking action as a result of the training.

 

Peer Learning Sessions for Volunteer Managers

We ran 3 Peer Learning sessions, attended by 35 participants, an average of 11.7 per session (1.7 more per session than in 2022-23). The sessions provided a blend of professional development and learning opportunities for people who manage volunteers. They included guest speakers and much-valued opportunities for peer support. The topics focused on widening participation in volunteering:

 

    Involving Gen Z Volunteers (aged 18-25)

    Volunteering Among the Global Majority

    Involving Refugees and Asylum Seekers as Volunteers

 

Bespoke Advice on Volunteer Programmes

Our Training and Best Practice Manager provided one-to-one advice to organisations on all aspects of managing volunteer programmes. A total of 31 organisations were supported with good practice advice over 39 sessions. This represented an increase of 6 organisations accessing the service and a slight decrease of 2 sessions, compared to the previous year.

Twenty one advice recipients completed post-advice surveys, with 100% finding the advice ‘extremely useful’ or ‘very useful’. 95% anticipated implementing improvements to volunteering practices, systems and procedures. 90% of post-advice survey respondents reported increased knowledge, confidence and skills.

 

Several months after providing advice, we surveyed organisations about the effect of our advice and training, in particular the improvements that they had been able to make. This longer-term impact survey was completed by 11 organisations. 100% had implemented positive changes and 100% improved the quality/level of their volunteering practices, from an average rating of 5.8 out of 10 to 7.8 out of 10. All respondents said they would recommend VCTH’s advice service to other voluntary and community sector organisations. Some quotes from our beneficiaries:

VOLUNTEER CENTRE TOWER HAMLETS
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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“VCTH provides informative and invaluable specialist support for a variety of concerns to do with volunteering - whether that's managing volunteers, your website/marketing or ensuring that you have all the policies in place that they need. I am very grateful for their support and the positive impact they make on both volunteering organisations and volunteers in Tower Hamlets!”

“Your support has been invaluable; I was very new when I started my initial role in the company and your trainings have given me most of my knowledge and understanding of the role that I couldn’t get from experience practicing in the role. Thank you!”

 

Organisations Registered

This year we registered 22 new Volunteer Involving Organisations, 2 more than the previous year.

We carried out a short health-check on each organisation to ensure they could provide a safe and welcoming environment for volunteers before we advertised their volunteer roles. Health check meetings also provided an opportunity to raise awareness of our training and advice services. At 30 September 2024 a total of 557 organisations were registered with VCTH, a net increase of 22 from 2022-23.

 

3. Developing Volunteering Opportunities

We developed volunteering opportunities in partnership with the not-for-profit organisations registered with us. These included charities, community groups, social enterprises, and public sector bodies. Registered organisations were predominantly based in the borough, while some provided services to Tower Hamlets residents.

We worked hard to ensure that the volunteer roles offered were meaningful, appealing and inclusive, and that volunteers would be supported in a safe environment.

 

New organisations registered during the year were:

1. Al Jarryah Foundation

2. BlindAid

3. Build on Belief

4. Disability Sports Coach

5. Healthy Island Partnership

6. Independent You

7. LBTH Family Hubs

8. LBTH Governor Services

9. LBTH Idea Stores

10.LBTH Public Realm

11.London Jaguars Community Association

12. Love to Swim

13. One Million Mentors

14. Samaritans

15. Thai Boxing Fighters Academy

16. The Diana Award

17. The Dockland Settlements

18. The Kids Network

19. The Vegan Society

20. Travel Hands

21. Vagina Museum

22. Young Elite Management

 

 

We sought to help organisations develop volunteer roles that would enable and enhance their service delivery, while also appealing to a diverse range of potential volunteers. We developed and promoted 313 volunteering roles over the entire year (330 roles in 2022-23) on behalf of 106 organisations. Most roles required multiple volunteers, and some opportunities were advertised more than once. We encouraged organisations to make their volunteer roles more flexible, enabling time-poor volunteers to get involved, and to open up volunteering to as wide a pool as possible. Roles were routinely advertised for 3 months, or until organisations told us they no longer needed volunteers, or asked us to renew their adverts. This process helped us maintain an up-to-date database of current vacancies.

A quote from an organisation whose volunteer roles we advertised:

“We want to extend our heartfelt thanks for your continued support. Your organization has played an essential role in helping us find dedicated volunteers who truly make a difference for our visually impaired community. We value this partnership greatly and look forward to working together in the years to come to further our shared mission”.

 

4. Voice of Volunteering and Communications

Campaigning and Informing

A core function of the Volunteer Centre is to be the local voice of volunteering - increasing awareness of the issues affecting volunteers and Volunteer Involving Organisations. We campaign for a volunteer-friendly climate, where everyone can participate. We aim to influence local decision-makers and funders about the value of volunteering to our communities, and increase understanding of how volunteering benefits individuals. We advocate for greater recognition of the cost of well-run volunteering programmes, and the importance of effective volunteer management.

VOLUNTEER CENTRE TOWER HAMLETS
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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We disseminate policy, information and statistics, encourage organisations to think about how changing policy, legislation or populations may affect their volunteer programmes, and urge them to join relevant campaigns. Throughout the year we kept 557 organisations informed (up 22 from 535 in 2022-23).

 

During 2023-24 VCTH represented volunteering on a number of partnership bodies including:

 

    Digital Inclusion Working Group

    Fair Food Futures

    Holiday Activities and Food (HAF) Steering Group

    Asylum Seekers and Refugees Community Partnership

 

In August 2024, VCTH helped THCVS develop a statement on behalf of the voluntary and community sector, condemning the racist and Islamophobic violence and rhetoric that took place over the summer. We acknowledged the fear and anxiety caused to volunteers and staff delivering services, especially colleagues from Global Majority communities. We sought to build a broad coalition against extremism and violence, and to celebrate the diversity of volunteers, trustees and staff in Tower Hamlets.

 

E-bulletins

Our main communication channel with Volunteer Managers was our monthly e-bulletin. This included information on training for workers and volunteers, funding sources, policy developments, campaigns and research, and volunteer manager job adverts.

We distributed our e-bulletin to an average of 607 contacts (a small fall of 3% from the 628 contacts in 2022-23). However, the average open rate for e-bulletins continued to increase and reached 35% in 2023-24, up 7% from the 28% open rate in 2022-23. This data suggests a slightly smaller but significantly more engaged audience.

 

Website - https://www.vcth.org.uk

We updated our website regularly. Content for Volunteer Managers included information about upcoming training and peer learning sessions, downloadable factsheets, and best practice blogs.

Webpages for volunteers included a step-by-step guide on how to apply for a volunteer role and what to expect, and a link to register on our Improving Employability Through Volunteering programme.

Prospective volunteers could use the website to search for current volunteering roles, register with VCTH and update their profiles. Conscious that some of our audience have limited digital skills, or may not speak English as a first language, we focused on ensuring our website was easy to navigate.

 

Our website registered 44,282 views in 2023-24 – an 86% increase on the 23,756 views in 2022-23. The number of events (interactions on website pages) soared from 77k in 2022-23 to 119k this year - a 55% increase.

 

Volunteer Alerts

We maintained a mailing list of people who have registered an interest in volunteering via our website. We updated this regularly to add new registrants and remove unsubscribers, ensuring an engaged audience. By 30 September 2024 this mailing list reached 3,956 individuals, a 17% increase on the 3,392 subscribers the previous year.

 

We used the mailing list to communicate with volunteers and alert them to new and interesting volunteer roles. During 2023-24 we sent 32 Volunteer Alerts (2022-23: 38 alerts) featuring 130 unique volunteer roles in 78 different organisations (2022-23: 177 roles in 84 organisations). The mailing list was also used to advertise our Minoritised Ethnic Trustees and Improving Employability Through Volunteering programmes.

 

Volunteers’ Week (1-7 June 2024)

National Volunteers’ Week is an annual opportunity to thank volunteers and recognise their contributions, as well as to raise the profile of volunteering, encouraging more people to get involved. June 2024 marked the 40th anniversary of Volunteers’ Week.

Our Volunteers’ Week special e-bulletin for Volunteer Managers was published on 2 June to 603 recipients, with an open rate of 41%, up from 25% in June 2023. It encouraged local Volunteer Managers to reward and celebrate their volunteers.

 

Our flagship event during Volunteers’ Week was the Tower Hamlets Volunteering Fair, held on 3 June 2024. We used our mailing lists to invite charities to hold recruitment stalls and encouraged volunteers looking for their next role to attend.

 

VOLUNTEER CENTRE TOWER HAMLETS
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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5. Strategic Development of Volunteering

 

As the volunteering infrastructure agency for Tower Hamlets, VCTH is recognised as the local volunteering expert in the borough. Strategic partners across Tower Hamlets often look to us for input and guidance on volunteering issues. We seek to represent the interests and concerns of volunteers and Volunteer Involving Organisations at borough and pan-London levels, and ensure a coherent, joined-up approach.

 

Co-Operate

VCTH’s Chief Executive and the VSCYF Co-ordinator were active members of Co-Operate – a joint strategic body of voluntary sector representatives, senior Council staff and elected Councillors. Co-Operate aims to transform how organisations work together to enhance the lives of local people. Between us, we represented the interests of Volunteer Involving Organisations and organisations providing services to children and young people.

 

Co-Operate met three times in 2023-24. The main themes for discussion during the year were:

 

VCTH participated in the Council’s Employability Fair in November 2023 to promote volunteering to residents to help address workforce development challenges. We joined the VCS Strategy Project Team. We also identified the significant underspend on the Small Grants funding stream, and raised our serious concerns about money designated for the sector being lost.

 

Partnering with Tower Hamlets CVS

Throughout the year we continued to work closely with our main partner, Tower Hamlets Council for Voluntary Service (THCVS), to share insight and avoid duplication of services. Between us we represented the broadest possible range of local Voluntary and Community Sector organisations at strategic level. The Chief Executives talked regularly to share information, identify common issues of concern, and discuss strategic responses. Our successful 4-year partnership delivering the Infrastructure and Capacity Building programme concluded on 31 October 2023, but we are committed to seeking further funding opportunities to deliver new projects together.

 

National and Regional Strategic Bodies

We were active members of:

    London Plus

Our Chief Executive attended quarterly Volunteer Centre Network meetings, engaging with staff in other London Volunteer Centres to share challenges and successes of facilitating volunteering in the Capital, and identify opportunities for joint working across the region.

    Voluntary and Community Sector Emergencies Partnership (VCSEP)

We joined regular online meetings of the VCSEP, facilitated by the British Red Cross. It brought together voluntary and public sector agencies, national and local, to deliver a more co-ordinated response to emergencies. VCSEP meetings enabled members to share insight and learning, make connections before emergencies arise, and build their skills and capability.

    London Communities Emergency Partnership (LCEP)

We continued to engage with the London Communities Emergency Partnership (LCEP), which brings together VCS organisations to respond to crises in the capital.

 

VOLUNTEER CENTRE TOWER HAMLETS
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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6. Voluntary Sector Children and Youth Forum (VSCYF)

 

VCTH facilitated the Voluntary Sector Children and Youth Forum (VSCYF) for a 16th successive year. The Forum was funded under a contract with Tower Hamlets Council’s Children’s Services Directorate until 31 March 2025.

 

The Forum supports and represents around 300 voluntary and community sector (VCS) organisations that provide services to children, young people and their families. It acts as a channel for dialogue between these VCS organisations, Tower Hamlets Council and other statutory partners. VCTH employed a part-time Co-ordinator, who liaised with all parties to ensure effective information sharing, communication, and representation, and who advocated for co-production.

 

The most significant issues affecting VSCYF members in this period were increasing competition to secure funding, and the rising costs of delivering programmes and services affordably. Members also faced challenges in recruiting and retaining staff with the right skills and experience, and supporting their staff to work differently. The COVID pandemic continued to have an impact on children and families. There were new developments from national government, such as Family Hubs, and locally there was a growing trend for LBTH to deliver services in-house, rather than commission them from the voluntary and community sector. There were some gaps in provision for children, young people and families resulting from different priorities. There was also a need to equip organisations to support young people to respond to the issues arising from the Israel/Palestine conflict.

 

The Voluntary Sector Children and Youth Forum met 4 times during 2023-24 with an average attendance of 15 organisations per meeting (an increase from 11 organisations in 2022-23). Forum meetings included briefings from senior staff from LBTH Children’s Services Directorate. Meetings alternated between online and in person, and covered a variety of subjects, including:

    funding, commissioning and grants

    partnership working

    poverty

    safeguarding and Early Help

    children and young people’s mental health

    SEND (Special Educational Needs and Disability) provision

    young carers

    supporting young people in times of conflict

    play in Tower Hamlets

    adolescence, youth services and youth justice services

    supporting refugee families in Tower Hamlets

    Tower Hamlets and North East London developments and strategies.

 

Fourteen new organisations joined the Forum during the year, bringing the total VSCYF membership to 295 organisations – a net increase of 8 from the previous year. The total number of voluntary sector professionals on our database stood at 311 - a net decrease of 30 individuals from 2022-23, reflecting changes in organisations’ funding and individuals’ circumstances.

 

We produced quarterly VSCYF e-bulletins. These included; Forum and Tower Hamlets news, funding and training opportunities, and events for children, young people or organisations that support them. In addition we sent regular email updates to members alerting them to urgent issues.

 

Facilitating voluntary and community sector representation continued to be a key focus of the VSCYF Coordinator’s work. Three new voluntary sector representatives were appointed this year and the VSCYF Coordinator met with all five representatives regularly to ensure good representation for all VSCYF members.

 

The VSCYF Coordinator also delivered practical services for Forum members. She assisted 10 member organisations with funding applications, or helped them decide whether to apply. In addition, she supported 5 organisations with reviewing and developing their safeguarding policies and procedures.

 

During the year, we delivered 3 small-group training workshops for VSCYF members on:

    Developing Safeguarding Policy and Procedures

    Identifying Realistic Outcomes and Targets for Funding Applications and Tenders

    Online Safety, What Can We Do?

 

Average trainee numbers (5 per workshop) were similar to the previous year, with 16 attendees across the year.

VOLUNTEER CENTRE TOWER HAMLETS
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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7. Consultancy Work

 

Consultancy work enabled VCTH staff to use their expertise, while helping to diversify our funding base and generate unrestricted reserves. This year, we continued to support Ocean Women’s Association with fundraising on a consultancy basis to ensure sufficient funding for their programmes delivered by volunteers. This work was completed in August 2024.

 

We also commenced a consultancy project for London Museum, working to develop a bespoke training session on Volunteers and the Law for London Museum staff and workers at other smaller museums. The training was delivered in November 2024.

 

Thank You

 

To our staff

The trustees wish to extend our gratitude to VCTH staff who have worked with professionalism and dedication. Our people are undoubtedly our greatest asset. Their determination, skills and experience have enabled VCTH to deliver high quality, relevant services for Tower Hamlets communities this year. Our thanks to:

 

 

To retired trustees

Two trustees have retired since our last Annual Report. Ioana Popovici retired in June 2024, having completed a term of just under 2 years. Sabiha Khanam retired in December 2024 after 4 years as a trustee. We thank them for their commitment and contributions to VCTH’s development.

 

To our funders

We are extremely grateful for the money and confidence that funders and commissioners have invested in Volunteer Centre Tower Hamlets. During 2023-24 they were:

 

London Borough of Tower Hamlets

 

City Bridge Foundation

 

Poplar HARCA

 

Financial review

On 18 October 2023 VCTH trustees ratified a budget for the year commencing 1 October 2023, projecting a small surplus of £1,719. This was the first time in several years that we were able to set a balanced budget at the outset of the year. This was only made possible following receipt of two Mayor’s Community Grant award letters on 11 October 2023, providing income for 3 years and 5 months from 1 November 2023.

 

Net current assets (working capital) held at 30 September 2024 amounted to £64,873 (up from £37,856 at 30 September 2023). The year ending 30 September 2024 proved to be one of VCTH’s most successful financial years in recent times.

VOLUNTEER CENTRE TOWER HAMLETS
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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Reserves policy

At the end of the charity’s sixteenth operational year at 30 September 2024, our total reserves had increased by 71% from £37,856 to £64,873. Of these reserves, £55,193 (85%) were unrestricted and £9,680 (15%) were restricted funds.

 

Trustees are aware of growing redundancy liabilities associated with long-serving staff, and the need to include the cost of consultation and notice periods in the event of redundancies as VCTH’s major liability.

 

Our Reserves Policy was updated on 22 January 2024. It states that trustees will aim to maintain free reserves at a level which covers at least three months’ running costs, but does not exceed that level, plus the redundancy obligations the charity would have in the event of a wind up. The trustees agree this level is the most prudent and would enable to charity to continue to operate in the event of an emergency, or a sudden cut to funding. Trustees acknowledge that this level of reserves may be aspirational in a challenging funding environment. They agree that, while VCTH should strive to maintain this level of reserves, this should not be achieved at the detriment of VCTH’s core values and long-term viability.

 

On completion of the annual budget, trustees and the Chief Executive identify the new target range for free reserves. VCTH trustees monitor the level of reserves regularly. The main mechanism for monitoring is the scrutiny of management accounts and cash flows presented quarterly at trustee board meetings, along with an updated redundancy calculator that tracks our redundancy liabilities. This ensures that trustees are aware of any build-up of excess reserves, or of reserves being depleted unexpectedly or rapidly.

 

Our Reserves Policy is reviewed annually, and whenever there is a significant change in VCTH’s liabilities. The next review will happen in June 2025.

 

At June 2025 the target reserves range is calculated to be between £56,057 and £84,172. The lower figure is 3 months’ running costs, based on projected annual expenditure in 2024-25. The higher figure is 3 months’ running costs, plus redundancy liability of £28,115 for two staff at 30 September 2025. At 31 March 2025, our unrestricted reserves position stood at £59,981, which was within our reserves target range.

VOLUNTEER CENTRE TOWER HAMLETS
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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Plans for future periods

On 12 March 2025, the staff and trustee team held an Away Day to undertake strategic planning. To assist with this exercise we considered:

 

 

The Board of Trustees finalised the Strategic Priorities for 2025-26 at their Board meeting on 11 June 2025.

 

1. Diversify income sources to sustain services and increase our financial

stability

 

2. Undertake Board succession planning

 

3. Make volunteering more accessible

 

4. Drive up volunteering conversion rates (moving people from expressing

interest to starting in volunteering roles)

 

Structure, governance and management

The organisation is a charitable company, limited by guarantee, incorporated on 4 July 2008, and registered as a charity on 29 December 2008.

 

The company was established under a Memorandum of Association, which established the objects and powers of the charitable company, and is governed under those Articles.

 

VOLUNTEER CENTRE TOWER HAMLETS
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Karin Maschler
Leo Zawadzki
Megan Cowley
Sabiha Khanam
(Resigned 10 December 2024)
Ioana Popovici
(Resigned 20 June 2024)
Louise Theophile
Ricardo Lobo
(Appointed 29 August 2024)
Recruitment and appointment of trustees

The process for appointing the charity’s trustees is set out in the Memorandum and Articles of Association. As VCTH is a charitable company, trustees also act as company directors. The minimum number of trustees is three, with no maximum. The Board of Trustees may appoint anyone willing and fit to act as a trustee and director, subject to the provisions of the Articles of Association.

 

One third of trustees must retire (but may stand for re-election) each year. Trustees are appointed annually, for a maximum of seven consecutive years, at which point they must retire. Trustees who have served seven years may stand for re-election, but only one year after the date of their retirement. Trustees may only hold the same Honorary Officer role for a maximum of five years.

 

The charity conducts regular skills, experience and diversity audits of trustees. These audits identify gaps in skills, or under-representation of particular groups or communities, and are fundamental to the recruitment process. Vacancies are advertised and potential trustees complete an application form, outlining their relevant skills and experience. Shortlisted applicants meet with a selection panel, comprising the Chair, one other trustee and the Chief Executive. If successful at interview, applicants are invited to observe a Board meeting and meet current trustees. If all parties agree to proceed, the applicant is either co-opted or nominated for election at the next AGM.

 

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Organisational structure

Volunteer Centre Tower Hamlets was established in July 2008 as an independent charitable company by a team of four committed volunteers, who became its initial 3 trustees and founder Chief Executive. The charity marked its 16th full operational year on 30 September 2024.

 

Volunteer Centre Tower Hamlets has a Board of Trustees, which meets at least 6 times a year, and is responsible for the strategic direction and governance of the charity. The charity’s Chief Executive attends Board meetings as an advisor, but does not have voting rights. During the year, seven individuals were involved as charity trustees. Two were Tower Hamlets residents, ensuring local community involvement. Karin Maschler and Leo Zawadzki continued in the roles of Chair and Treasurer respectively – positions they have held since August 2021. One trustee retired during the year: Ioana Popovici (June 2024), and Sabiha Khanam has since retired (December 2024). We were delighted to appoint Ricardo Lobo, a graduate of our METs trustee training and matching programme, to our Board of Trustees in August 2024.

 

Responsibility for operational management was delegated to the Chief Executive, Catherine Bavage, who is responsible for HR, finance, fundraising, and managing service delivery. She ensures that the charity delivers high quality, responsive services to meet the targets and outcomes set out in grants and contracts.

 

The Board of Trustees has appointed all staff, including key management personnel, on a grade within the National Joint Council (NJC) pay scale for Local Government employees. Where the charity's financial position allows, the Board awards annual pay rises, agreed nationally by the NJC. VCTH implemented the NJC 2024 pay award in December, backdated to April 2024.

 

VOLUNTEER CENTRE TOWER HAMLETS
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 16 -
Induction and training of trustees

Trustees are issued a role description, outlining their statutory and additional governance responsibilities. On joining the Board, trustees are introduced to other Board members and paid staff, and provided with a comprehensive induction. Trustees are expected to attend 6 Board meetings a year plus an annual Away Day. They must acquaint themselves with VCTH’s policies and procedures, strategic plans, budgets, and governing document. Trustees are prompted to take up relevant learning and development opportunities to help them fulfil their role and responsibilities

VOLUNTEER CENTRE TOWER HAMLETS
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 17 -

Risk Management

 

Our Risk Register identifies risks and their potential impact in 5 areas: governance, operational, financial, environmental/external, and compliance. It describes the steps needed to mitigate risks. The trustees have considered all the major risks to which the charity is exposed and are satisfied that systems or procedures are established to mitigate those risks.

 

The charity has a suite of policies and procedures that trustees, staff and volunteers must observe. In November 2023, trustees established working groups to refresh a number of policies, and in January 2024 agreed a schedule for this work. During the year, trustees reviewed and approved 7 policies, and this work continues:

 

    Reserves Policy (22 Jan 2024)

    Chair’s Action Policy (22 Jan 2024)

    Trustee Recruitment Procedure (22 Jan 2024)

    Flexible Working Policy (20 Jun 2024)

    Food Safety Procedure (29 Aug 2024)

    Accident and Incident Reporting Procedure (29 Aug 2024)

    Redundancy and Redeployment Policy (23 Oct 2024)

 

From June 2023 until December 2024 Sabiha Khanam was the trustees’ Designated Board Safeguarding Lead. After Sabiha’s retirement this role transferred to Ricardo Lobo, who completed comprehensive safeguarding children training with NSPCC.

 

To ensure that VCTH complies with legislation and implements good employment practice we contract with Bright HR, who provide the trustees and Chief Executive with employment advice. We continued to offer Bright HR’s Employee Assistance Programme to the team, giving staff and volunteers access to health and wellbeing support, including web resources, a 24-hour helpline and counselling sessions.

 

Our staff continued to work primarily from home throughout 2023-24. They were provided with the necessary equipment and paid Working At Home Allowances. Being office-free prioritises our commitment to sustaining services and staffing over fixed accommodation costs, enabling VCTH to make considerable savings on core costs and sustain a more climate-friendly model.

 

We continued to use the professional services of Adrian Hull as our management accountant, and Creative Payroll Services for managing our payroll.

 

A charity combined insurance policy was in place with Aviva Insurance Ltd throughout the year covering; employer’s liability (£10m), public liability (£5m), products liability (£5m), business interruption, executive risks (including trustee indemnity and directors’ liability), professional indemnity, cyber loss recovery, fidelity guarantee, property and business equipment, money and personal accident assault, group personal accident, goods in transit, and legal expenses. We took separate commercial legal expenses insurance through Bright HR to indemnify VCTH against legal costs and compensatory awards associated with employment disputes.

 

Under VCTH’s Conflicts of Interest Policy trustees and staff must declare any actual, potential or perceived conflicts of interest. Between January and April 2024 trustees and staff updated their declaration of interests forms. Declaring conflicts remained a standing agenda item at all Board meetings.

 

Like many voluntary and community sector organisations, Volunteer Centre Tower Hamlets experienced increased demand for services in the wake of the COVID pandemic and with rising poverty. The climate of stiff competition for funding continued, making securing income challenging. Nevertheless, VCTH’s income increased by over 36% to £213,517 in 2023-24 (2022-23: £156,641), and we ended the year in surplus. We negotiated funding in advance for all contracts and grants, ensuring positive cash flow throughout the year.

 

We take our commitment to protecting individuals’ personal data seriously. During the year, the Volunteer Centre re-registered with the Information Commissioner’s Office. Staff and volunteers are aware of their responsibilities not to disclose the personal or sensitive data of our service users. We began to review our Data Protection Policy with support from expert corporate volunteers, and this work will conclude in 2025.

 

VOLUNTEER CENTRE TOWER HAMLETS
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 18 -

VCTH is committed to recruiting suitably qualified and experienced staff. A new member of staff, Faiza Sharif, joined the team in May 2024 as a part-time Volunteering Advisor, following a competitive external recruitment exercise. Continued professional development for staff is essential for retention, ensures that skills and knowledge are updated, and reduces our exposure to risk. In 2023-24, all staff took up learning and development opportunities. Staff completed Active Bystander training with Protection Approaches in December 2023.

Statement of Trustees responsibilities

The trustees, who are also the directors of Volunteer Centre Tower Hamlets for the purpose of company law, are responsible for preparing the Trustees Report 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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

- select suitable accounting policies and then apply them consistently;

- observe the methods and principles in the Charities SORP;

- make judgements and estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

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

The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

 

Auditor

Kingston Burrowes Audit Ltd were appointed as auditor to the company and a resolution proposing that they be re-appointed will be put at a General Meeting.

Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The Trustees report was approved by the Board of Trustees.

Karin Maschler
Chair of Board of Trustees
11 June 2025
VOLUNTEER CENTRE TOWER HAMLETS
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF VOLUNTEER CENTRE TOWER HAMLETS
- 19 -

Opinion

We have audited the financial statements of Volunteer Centre Tower Hamlets (the ‘charity’) for the year ended 30 September 2024 which comprise the statement of financial activities, the balance sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (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 30 September 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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. 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. 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 course of 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 our audit:

-

the information given in the Trustees report for the financial year for which the financial statements are prepared, which includes the directors' report prepared for the purposes of company law, is consistent with the financial statements; and

-

the directors' report included within the Trustees report has been prepared in accordance with applicable legal requirements.

VOLUNTEER CENTRE TOWER HAMLETS
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF VOLUNTEER CENTRE TOWER HAMLETS
- 20 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the Trustees report.

We have nothing to report in respect of the following matters in relation to which 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 prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees report and from the requirement to prepare a strategic report.

Responsibilities of trustees

As explained more fully in the statement of Trustees responsibilities, the trustees, who are also the directors of the charity for the purpose 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 charity’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.

Auditor's 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 an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

 

- Enquiry of management, those charged with governance about actual and potential litigation or claims and identification of non-compliance with laws and regulations.

- Reviewing minutes of meetings of those charged with governance.

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

- Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness.

- Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.

- Professional scepticism in course of the audit and with audit sampling in material audit areas.

 

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

VOLUNTEER CENTRE TOWER HAMLETS
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF VOLUNTEER CENTRE TOWER HAMLETS
- 21 -

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 auditor’s 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.

Kevin Fisher BA FCA CTA (Senior Statutory Auditor)
For and on behalf of Kingston Burrowes Audit Ltd, Statutory Auditor
308 Ewell Road
Surbiton
Surrey
KT6 7AL
23 June 2025
VOLUNTEER CENTRE TOWER HAMLETS
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 22 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
Notes
£
£
£
£
£
£
Income from:
Charitable activities
3
62,632
150,885
213,517
75,677
80,964
156,641
Total income
62,632
150,885
213,517
75,677
80,964
156,641
Expenditure on:
Charitable activities
4
43,376
143,124
186,500
89,179
79,795
168,974
Total expenditure
43,376
143,124
186,500
89,179
79,795
168,974
Net income/(expenditure) and movement in funds
19,256
7,761
27,017
(13,502)
1,169
(12,333)
Reconciliation of funds:
Fund balances at 1 October 2023
35,937
1,919
37,856
49,439
750
50,189
Fund balances at 30 September 2024
55,193
9,680
64,873
35,937
1,919
37,856

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

VOLUNTEER CENTRE TOWER HAMLETS
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
30 September 2024
- 23 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
10
6,484
6,448
Cash at bank and in hand
90,077
67,535
96,561
73,983
Creditors: amounts falling due within one year
11
(31,688)
(36,127)
Net current assets
64,873
37,856
The funds of the charity
Restricted income funds
14
9,680
1,919
Unrestricted funds
15
55,193
35,937
64,873
37,856
The financial statements were approved by the trustees on 11 June 2025
Leo Zawadzki
Treasurer
Company registration number 6638750 (England and Wales)
VOLUNTEER CENTRE TOWER HAMLETS
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 24 -
1
Accounting policies
Charity information

Volunteer Centre Tower Hamlets is a private company limited by guarantee incorporated in England and Wales. The registered office is Norvin House, 45-55 Commercial Street, London, E1 6BD.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.

 

The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4
Income

Items of income are recognised in the financial statements when all of the following criteria are met:

•    The charity has entitlement to the funds;

•    any performance conditions have been met or are fully within the control of the charity;

•    there is sufficient certainty that receipt of the income is considered probable; and

•    the amount can be measured reliably.

 

Income from performance related grants and contracts is recognised as the charity earns the right to consideration through delivery of the specified services.

VOLUNTEER CENTRE TOWER HAMLETS
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 25 -
1.5
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make payment to a third party, it is probable that settlement will be required and the amount can be measured reliably. Expenditure includes all irrecoverable VAT which is included as part of the relevant cost.

 

Expenditure on charitable activities comprises those costs associated with the delivery of the various activities and services for the charity’s beneficiaries.

 

Expenditure includes those costs of a direct nature which can be allocated to a specific activity and also includes indirect costs, including governance costs that do not relate to a specific activity but are necessary to support those activities. Support costs are apportioned to each activity on the basis of staff time.

1.6
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8

Debtors and creditors

Debtors and creditors with no stated interest rate and which are receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

1.9

Tangible fixed assets and depreciation

Tangible assets costing more than £1,500 are capitalised and are stated at cost less accumulated depreciation.

2
Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

VOLUNTEER CENTRE TOWER HAMLETS
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 26 -
3
Income from charitable activities
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£
Income from Charitable activities
LBTH - Voluntary sector children & youth forum
50,108
-
50,108
45,309
-
45,309
LBTH - COVID 19 Volunteering Hub
-
-
-
25,000
-
25,000
LBTH - Infrastructure and Capacity Building
-
6,250
6,250
-
75,000
75,000
Poplar HARCA, Other Consultancy and training income
12,524
-
12,524
5,368
-
5,368
City Bridge Foundation
-
72,000
72,000
-
5,964
5,964
LBTH - Minoritised Ethnic Trustees
-
36,656
36,656
-
-
-
LBTH - Improving Employability
-
35,979
35,979
-
-
-
62,632
150,885
213,517
75,677
80,964
156,641

Section 37 Statement: During the period, the grants receivable from LB Tower Hamlets were expended on various projects for the purposes for which they were given.

 

Of the LB Tower Hamlets income of £145,309 recognised in 2023, £70,309 related to unrestricted funds and £75,000 to restricted funds.

 

The remainder of the charitable activities income of £11,332 recognised in 2023 related to unrestricted funds of £5,368 and restricted funds of £5,964.

VOLUNTEER CENTRE TOWER HAMLETS
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 27 -
4
Expenditure on charitable activities
Volunteering services
Volunteering services
2024
2023
£
£
Direct costs
Staff costs
162,192
145,793
Activity costs
6,461
5,801
Staff and volunteer training and recruitment
941
975
Travel costs
396
295
Volunteer expenses
98
50
170,088
152,914
Share of support and governance costs (see note 5)
Support
10,093
10,220
Governance
6,319
5,840
186,500
168,974
Analysis by fund
Unrestricted funds
43,376
89,179
Restricted funds
143,124
79,795
186,500
168,974
5
Support costs allocated to activities
2024
2023
£
£
Office costs
5,481
4,892
IT support
3,202
2,899
Computer and website costs
246
1,270
Other costs
1,164
1,159
Governance costs
6,319
5,840
16,412
16,060
Analysed between:
Volunteering services
16,412
16,060
VOLUNTEER CENTRE TOWER HAMLETS
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
5
Support costs allocated to activities
(Continued)
- 28 -
2024
2023
Governance costs comprise:
£
£
Audit fees
2,190
1,950
Accountancy
4,095
3,800
AGM/ Annual review
34
90
6,319
5,840
6
Net movement in funds
2024
2023
£
£
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements
2,190
1,950
7
Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

 

Trustee meeting refreshments and training costs amounting to £Nil (2023: £Nil) were paid on behalf of nil (2023 : nil) trustees.

8
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
4
5
Employment costs
2024
2023
£
£
Wages and salaries
146,888
131,981
Social security costs
9,637
7,732
Other pension costs
5,667
6,080
162,192
145,793

The average number of employees during the period, calculated on the basis of full time equivalents was 3.2 (2023: 3.2).

There were no employees whose annual remuneration was more than £60,000.
VOLUNTEER CENTRE TOWER HAMLETS
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
8
Employees
(Continued)
- 29 -
Remuneration of key management personnel

The remuneration of key management personnel was as follows:

2024
2023
£
£
Aggregate compensation
60,125
54,325

Under FRS 102, employee benefits include gross salary, employer’s NIC, employer’s pension contributions and benefits in kind.

9
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

10
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
6,404
5,965
Prepayments and accrued income
80
483
6,484
6,448
11
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Deferred income
12
26,504
31,772
Accruals
5,184
4,355
31,688
36,127
12
Deferred income
2024
2023
£
£
Other deferred income
26,504
31,772

Deferred income is included in the financial statements as follows:

2024
2023
£
£
Deferred income is included within:
Current liabilities
26,504
31,772
Movements in the year:
VOLUNTEER CENTRE TOWER HAMLETS
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
12
Deferred income
(Continued)
- 30 -
Deferred income at 1 October 2023
31,772
23,930
Released from previous periods
(31,772)
(23,930)
Resources deferred in the year
26,504
31,772
Deferred income at 30 September 2024
26,504
31,772
13
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
5,667
6,080

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

14
Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 October 2023
Incoming resources
Resources expended
At 30 September 2024
£
£
£
£
LBTH - Infrastructure
142
6,250
(6,392)
-
City Bridge Foundation
1,027
72,000
(68,118)
4,909
London Plus - laptops
750
-
-
750
LBTH - Improving employment
-
35,979
(34,763)
1,216
LBTH - METS
-
36,656
(33,851)
2,805
1,919
150,885
(143,124)
9,680
Previous year:
At 1 October 2022
Incoming resources
Resources expended
At 30 September 2023
£
£
£
£
LBTH - Infrastructure
-
75,000
(74,858)
142
City Bridge Foundation
-
5,964
(4,937)
1,027
London Plus - laptops
750
-
-
750
750
80,964
(79,795)
1,919
VOLUNTEER CENTRE TOWER HAMLETS
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 31 -
15
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 October 2023
Incoming resources
Resources expended
At 30 September 2024
£
£
£
£
General funds
35,937
62,632
(43,376)
55,193
Previous year:
At 1 October 2022
Incoming resources
Resources expended
At 30 September 2023
£
£
£
£
General funds
49,439
75,677
(89,179)
35,937
16
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2024
2024
2024
£
£
£
At 30 September 2024:
Current assets/(liabilities)
55,193
9,680
64,873
55,193
9,680
64,873
Unrestricted
Restricted
Total
funds
funds
2023
2023
2023
£
£
£
At 30 September 2023:
Current assets/(liabilities)
35,937
1,919
37,856
35,937
1,919
37,856
17
Contingent Assets

Total grant funding awarded as at 30 September 2024 but not yet received and recognised as income due to the recognition criteria not being met amounts to £354,281 (2023 - £503,189).

18
Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

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