Charity registration number: 1003001 John La Rose Trust known as George Padmore Institute Annual Report and Financial Statements for the Year Ended 31 March 2024 Field Sullivan Llmited 9 Hare & Billet Road Blackheath SE3 ORB
John La Rose Trust known as George Padmore Institute Contents (continued) Reference and Administrative Details Trustees, Report 2tolO Independent Examiner's Report Ilto12 Statement of Financial Activities 13 Balance Sheet 14 Notes to the Financial Statements 15to24
John La Rose Trust known as George Padmore Institute Reference and Administrative Details Trustees Olateju Adeleye Sharmilla Beezmohun Aggrey Burke Janice Durham Azim Hajee PatrlcSa Harrls Roxy Harris Ali Hussein Linton Johnson Chris Moffat Nisha Obano Robert Waters Charlty Registration Number 1003001 Prlnclpal Office 76 Stroud Green Road London N4 3EN Independent Examlner Field Sullivan Limited 9 Hare & Billet Road Blackheath SE3 ORB Page I
John La Rose Trust known as George Padmore Institute Trustees, Report The trustees present the annual report together with the financial statements of the charity for the year ended 31 March 2024. Trustees and officer5 The trustee5 and officer5 servlng during the year and since the year end were as follows.. Trustees.. Olateju Adeleye Sharmilla Beezmohun Aggrey Burke Janice Durham Azim Hajee Patricia Harris Roxy Harris Ali Hussein Linton Johnson Chris Moffat Nisha Obano Robert Waters l. Introductlon The john La Rose Trust is a Charitable Trust founded in 1991 (then named the New Beacon Educational Trust) and governed by a Trust Deed. The Officers of the Trust and the Trustee5 are elected at the Annual General Meetlng of the Trust. The John La Rose Trust operates primarily under the name of the George Padmore Institute. The John La Rose Trust, prevlously the New Beacon Educational Trust, was set up 'for the advancement of the public in matters relating to the political, social and cultural history of persons in the United Kingdom of Caribbean, African and Asian descent, The aims and objectives of the Trust are to organise: 111 a library, educational resource and research centre, that will allow the materials in its care to be available for use by interested individuals and groups, both In person at the Institute and through the use of modern storage, retrieval and communication methods,. 121 educational and cultural activitles, including conferences, courses, seminars, talks and readings,. 131 the publication of relevant materials. 2. Statement of publlt beneflt The Trustees confirm that they have complied with their duty to have due regard to the Charity Commission's public benefit guidante when exercising any powers or duties to which the guidance is relevant. Page 2
John La Rose Trust known as George Padmore Institute Trustees, Report (continued) 3. Charitable actlvlties 3.1 Trustees 3.1.1 General Four full meetings of the Trustees took place in the financial year 202312024: - the Trustee Meeting and AGM on 5 November 2023,. and three Trustee Meeting5 on 30 April 2023, 30 July 2023 and 28 January 2024. In this financial year we had 13 trustees, with 4 vacancies. One vacancy has since been filled, with Kevin Le Gendre coming on board from Aprll 2024 and being added to the Charity Commission retords in August 2024. Another Trustee will be voted on in autumn 2024. 3.1.2 Trustee Actlvlty Sarah White's Estate: In the year 2023-24, GPI Trustee Sharmilla Beezmohun acted as co-executor for our late secretary Sarah White's estate, whilst fellow Trustee Pat Harris and other volunteers helped to clear her house. All of this work was concluded in Spring 2024. John La Rose Award, Haringey Councll, Aprll 2023: GPI Trustee Nisha Obano was the GPI representative at the meeting for Haringey Council's bursary award named after one of our co-founders. The bursary helps low-income students with university costs. Nisha, alongside Haringey councillofs and other post-16 education professionals, awarded twelve students the John La Rose Award, with the council supporting three other students In other ways. Linton Kwesl Johnson In conversatlon wlth Burt Caesar, May 2023: Talking about his first book of collected prose, Time Come, GPI Trustee Linton Kwesi Johnson spoke to actor Burt Caesar at a sold-out event at Brixton Library co-organised with the GPI. Your Local Arena event, October 2023: Literature organisation Speaking Volumes Ico-run by GPI Trustee Sharmilla Beezmohunl and independent producer Lucy Hannah ran this event in collaboration with the GPI and 198 Contemporary Arts and Learning in south London lan organlsation chaired by GPI Trustee Linton Kwesi Johnson). They showed the BBC Arena film Upon Westminster Bridge and Arena editor Anthony Wall, Linton Kwesi johnson and poets Helen Thomas and Hannah Lowe spoke about the film afterwards. The event was sold out and 198 and GPI shared the ticket monies. Sarah Whlte Trlbute event, Brltlsh Llbrary 29 October 2023: Organised by GPI Trustees Sharmilla Beezmohun, Pat Harris, Roxy Harris and Linton Kwesi Johnson on behalf of Sarah White's family, this well-attended event featured people who had known our late GPI Trustee and secretary Sarah White, including family, friends, colleagues from MIND and others. Long-time GPI supporter Glenda Pattenden designed a tribute booklet featuring memories of Sarah plus photos, as well as information on the event contributors, who also included people on film such as poets Jay Bernard, Mervyn Morris, Olive Senior and a short music excerpt from composer Shlrley Thompson. The film the event can found here.. https'.//www.youtube.comlwatch?v-6r3bxDldLmw Page 3
John La Rose Trust known as George Padmore Institute Trustees, Report (continued) 3.2 Commlttee5 During 2023-2024, we used ad hoc committees to deal with essential day-to-day tasks as they emerged. For example, an ad hoc committee helps with our Arts Council England National Portfolio Organisation work leg Trustee Chris Moffat leads with website development), whilst others help the Archivist Sarah Garrod and Office Manager Teresa Palmiero on buildings reports and recruitment of builders for jobs (led by Vice-chair Ali Hussein and Trustee Pat Harris). 3.3 Finance and Fundralsing 3.3.1 Fundrolslng and Other Income In April 2023 the GPI became an Arts Council England IACEI National Portfolio Organisation INPOI for three vears, getting funding of £73,000 per year in quarterly payments, subject to submitting quarterly reports to ACE - including audience figures for events and regular budget and activity reports. This funding has enabled the GPI to employ a part-time Communications Manager from May 2023 and to continue our regular programme of archive work, publishing lon an ad hoc basisl and events. We will still need to raise c.£48,000 per year to meet all our costs, which will come from rent, book sales, event ticket sales, fees for workshops, Gift Aid, donati0115 and other funding applications. In this financial year we launched a fundralsing appeal to raise £35,000 for urgent bullding repairs, including work on the roof, drains and other work. One-off donations from supporters raised £7,866 whilst artist Peter Doig, in conjunction with the Paul Stolper Gallery, sold a limited number of prints of a painting of GPI Trustee Llnton Kwesi Johnson. This generous sale raised £27,000 for our buildings appeal, enabling us to meet our buildings appeal target. The building work will take place in the 2024-25 financial year. In early 2024 New Beacon Books, the shop on the ground floor of the GPI. was broken into over the ChristmaslNew Year holidays. The GPI was awarded £2,215.08 from Zurich, our insurance company, to replace the front door of the building. In February 2024, the GPI received a gift of £SO,000 from the estate of Sarah White, as set out in her will. This money will become the GPI'S reserves. 3.3.2 Bunklng CAF Bank: The GPI'S account with CAF Bank is working well. GPI Office Manager Teresa Palmiero instigates all online payments, whith are then authorised by Trustee Sharmilla Beezmohun. GPI Trustees Roxy Harris. Pat Harris and Azim Hajee are all also signatories on the account. We also have a CAF debit card. Barclays Bank: The GPI was informed that our Barclays account would be closed but thls has not happened to date. We are checking how to ensure this happens as soon as possible. PayPal., We continue to Use PayPal as a way of enabling more people to donate to the GPI, with monies from there transferred to the CAF Bank account regularly by Office Manager Teresa Palmiero. 3.4 Staffing The period saw the GPI having three core part-time staff: a part-time Archivist Isarah Garrod - 314 days weeklyl, Office Manager (Teresa Palmiero 2 days weekly) and Communication5 Manager11saac Pye 2 days weekly, appointed in May 2023 once the ACE funding started). Page 4
John La Rose Trust known as George Padmore Institute Trustees, Report Icontlnued) In this financial year, we didn't implement a rise in pay for any staff members, but will raise this in the AGM meeting due to be held in October 2024, with any approved pay rises to be implemented immediately. In early 2024, Trustees Pat Harris, Chris Moffat and 5harmilla Beeimohun conducted staff reviews with all three staff members to ensure they are all OK and to theck on how else we might support them moving forward. This will be an annual process. 3.5 George Padmore Instltute Work 3.5.1 Pub115hing ut the Institute In the year 2023-24, the GPI aimed to contlnue our series, Reaching New Generation5, which are children's books inspired by our archive collections (funded by ACE). The first two books in the series were for 5-8-year-olds.' Dream to Chonge the World.. The Story of John Lo Rose120211 and Jump Upl A Story of Cornivul 120221, both written by and Illustrated by Ken Wilson-max. The books demonstrate the importance of Black 8ritish history and inspire new generatlons with stories of diversity and Sncluslon. The books were well reviewed and the Carnivol book was lonBlisted for the Little Rebels Award in April 2023. However, we had to put the plan to publish two more books on hold due to Ken Wilson-max being too busy although he continued to do events around the books, including one at Stamford Hill Library in north London in October 2023. We have therefore spent 2023-24 getting advice and feedback, aiming to restart the project in the next financial year. For our tribute event for Sarah While, held at the British Library in October 2023, we published a tribute booklet about her including memories of her friends and family. Some 300 copies were distributed for free at the event and afterward5. Although we didn't reprint any GPI books in this financial year, we continue to sell all our books and other material via our website and to give away some children's books. 3.5.2 6enerulArchlve Work This year, the Archivist concentrated on.. processing the second set of boxe5 of manuscripts by John La Rose containSng drafts, notes and poems (some unpublished). This work is slow and requires detailed cataloguing but will ensure that we have a complete manuscript section in our online catalogue. Over 158 files have been listed in detail; Proofing and repackaging the completed Andrew Salkey Archives collection IASAI gifted to the GPI by Pat Salkey and uploading it to our online catalogue. Tying up any loose ends where volunteers had started cataloguing files but were unable to finish. It 15 noted that from April 2023, the GPI ACE NPO target for processing archives lie conserved,. sorted,. catalogued) is 240 items per year. 3.5.3 Research Vlslts to the Archive These have been consistent throughout the year from l April 2023 to 31 March 2024, totalling 245 for the year 179 in May-july,. 45 in Aug-oct; 51 in Nov-jan; 70 in Feb-Aprlll, Page 5
John La Rose Trust known as George Padmore Institute Trustees. Report (continued) Popular topics/tollectSons: Abengl Althea McNish,. Black Parents Movement,. Broadwater Farm,. Carlbbean Artist5 Movement; Carnival,. Cultural Congress of Havana,. education and supplementary schools,. European Action for Racial Equality and Social Justice,. Flamingo; foundation of New Beacon,. housing and urban planning,, International Book Fairs of Radical Black and Third World Books,. Joan Goody,. Manchester (tied to a film that's being created by Jen Nkirul- Negro Theatre Workshop,. New Cross Massacre Action Campaign,. Nottingham,. OWAAD and women's groups,. psychology,. Voice of Rasta,. West Indian World. We had several researchers from Canada and from continental Europe, especially Belgium, France, Germanv, Italy and Norway. Many booked multiple appointments over an extended period and we received more visits from researchers working in pairs or groups of three. Mitigation against COVID.. Archivist Sarah Garrod dropped the request that vlsitors brlng face coverings (unless medically exempt) for the benefit of other researchers. No one arrived with a face covering and no one requested that anyone wear one. 3.5.4 Volunteer5 In the Archive This year we had a consistent number of on-site volunteers, comprising c.4 per quarter, with some volunteering also done remotely leg transcribing audio recordings). The volunteers included undergraduate students from Queen Mary University and North Eastern Universlty London, a student who commuted from Oxford over the summer 2023 and a researcher who asked to join the volunteer team. We had an intern at the GPI from 26 February-5 April 2024, a Queen Mary MA student studying history. The internship went really well and was beneficial to both sides. Tasks included cataloguing sets of photos and listing correspondence. Full training was given in CALM and guidelines were provided in handling, preservation and catalogulng material. All volunteers are trained in the use of our CMS system plus undertake the cataloguing of selected files. especially those which require additional research to establish the order and content of the papers. Most of the volunteers aim to eventually work in the heritage sector and have volunteered at other archives leg the Huntley Archives) or in museums, but one has also been able to bring marketing and social media/website skills to the GPI. 3.5.5 External Project5/Outreuch Open Unlverslty Collaboration during the year we continued our collaboration with Sue Ledger (research fellow with The Open Universityl and Paul Christian lactor with the learning disability theatre company, Access All Areas). We completed our three easy read documents and added a disclaimer to them to say that the views expressed there were not necessarily those of the GPI, as they were written by Sue Ledger and Paul Christian. The Open Universitv approved the easy reads, which can found here.. https:l/www.georgepadmorelnstitute.org/news-and-events/launch-of-george-padmore-collection-easy-read-series The National Archives {TNA) project to build a protocol research interface on their Dlscovery platform Sarah Garrod 15 Snvolved with this project for the TNA Discovery platform (the current interface for searching the archives held at TNA and other repositories around the UK). The draft prototype was launched at the Friends of the Huntleys Archive IFHALMAI Conference at the London Metropolitan Archives on 24 February 2024. Sarah Garrod took part in a panel discussion, followed by user testing. The project is ongoing and will take several years to complete but TNA will lead on it and apply for further funding. Page 6
John La Rose Trust known as George Padmore Institute Trustees, Report (continued) MayDay Rooms - We were one of several partner5 in a 2023-24 year-long youth project run by MayDay Rooms, includSng a workshop session run by us Isee below). MayDay Rooms publicised the workshop to their target audience of 18-24-year-olds who are unlikely to have visited an archive before, a5 they already work with various youth groups. 3.5.6 Networking The GPI team met other Haringey ACE NPOS and local touncillors at Jacksons Lane local arts venue in Mav 2023, several of whom are also members of the Haringey Culture Network IHCNI. Sarah Garrod later met Sally Gimson, Arts and Culture Strategy Development Officer for Haringey, who is working on a Haringey Culture Strategy IHCSI. Although we haven't been able to attend many HCS meeting5, we are keeping in touch with thi5 group. In September 2023 the GPI was visited by the Archivist and Head of Service at the Ahmed Iqbal Ullah RACE Centre in Manchester and two archivists from the National Theatre. A former GPI volunteer, Zach Myers, had just finished a pre-course experience post at the National Theatre archives and helped to set up the visit. Such visits help us to build relationships with other organisations who hold collections that cross-reference to our own. Five Preston Manor School senior staff visited the GPI on 27 September 2023 to discuss the Joan Goody archive collection and learn about Joan'5 pioneering teaching and research into Caribbean schools. This may lead to further research visits and potential workshops with students from the school. One item of interest was Joan's handwritten journal from a trSp to the Caribbean, which the school staff suggested might be published, with permisslon of the Goody family, and whlch could become a future GPI project. 3.5.7 GPI Workshops S July 20Z3.' workshop to a group of vulnerable, marginalised women from Hibiscus Initiatives (based locally on Holloway Roadl, led by their local Heritage Project Offlcer and GPI Archivist Sarah Garrod. The workshop focused on the value of keeplng archives, especially activist archives. an introduction to processing archives and research tIP5. 7 November 2023: Sarah Garrod delivered a paid workshop with London-based students from Lawrence University IWi5COllsinl on the Negro Theatre Workshop. 21 November 2023.. Trustee Sharmilla Beezmohun instigated a GPI paid-for graphic storytelling workshop by former New Zealand Poet Laureate Selina Tusitala Marsh. 23 November 2023: A free screening of the Ivongrove Nine film with Outlandish, a cooperative based at the local Space4 venue on Fonthill Road. Sarah Garrod introduced the film and the work of the GPI. There's potential for ongoing collaboration with Outlandish. 8 February 2024: Sarah Garrod and Trustee Linton Kwesi Johnson delivered a successful free workshop at the MayDay Rooms called 'Rediscovering Identity.. Black British Experience 1960s-19905' to engage more young people118-251 in archives. Page 7
John La Rose Trust known as George Padmore Institute Trustees, Report (continued) 22 February 2024: Sarah Garrod ran two workshop5 at the GPI with 15 students per group studying postcolonial and contemporary Ilterature at Queen Mary University of London. The students were shown materials related to the Caribbean Artists Movement and the New Cr05s Massacre Campaign, which gave them insight into Surge by Jay Bernard, the poetry collection they were studying. 24 February 2024: Sarah Garrod participated in a panel discussion at the 18th Annual Huntley Conference 'Discovering Black Women in Black Educatlon Movements: Building an Intergenerational Archive Partnership Project, about 3 project to create an online black history port31 linked to The National Archives, catalogue, Discovery Isee abovel. 6 March 2024: University students from Royal Holloway visited the GPI for a class discussion session on the New Cross Massacre Campaign, led by Dr Karina Lickorish Quinn. 16 March: Sarah Garrod ran a workshop at the GPI with 13 students from the University of Notre Dame Ilndiana, USA), looking at migration from the Caribbean, with a request to learn about the Caribbean Artists Movement. 3.5.8 Other Actlvltles The GPI loaned material to the 8ritish Library for their exhibition Malorie Blackman.. The Power of Storie5 exhibition124 Nov 2023-25 Feb 20241. These were.. a copy of the first book fair brochure and a small photo of Norman Smith taken in New Beacon Books. The material was returned safely. The GPI loaned material to the British Library for their exhibition Beyond the Bassline.. 500 Years of Bluck British Music126 Apr-26 Aug 20241. These were.. Una Howe watercolour designs for women's Hi-Life, Ragga, Soca and Jungle costumes from the Carnival collection14 items). We received an email from Jacqueline Springer, Curator, Africa & Diaspora.. Performance at the Victoria & Albert Museum, inviting us to work with them on the exhibition rhe Music is Block.. A BrAtish Story, for V&A East. Although this didn't happen, it is testament to the GPI'S reputation that we were approached. 3.6 Website and Soclal Media Since Isaac Pye. our Communications Manager, was appointed in May 2023, he has been working with the team to keep our website updated. This includes putting all our newsletters onto the website once they have been sent out vla Mailchimp. Both he and Office Manager Teresa Palmiero continue to add to the website content regularly. Isaac Pye also now runs the GPI'S social media, ensuring that each post Is checked before it goes online. He provides quarterly reports to the GPI Trustees, meetlngs and is now reporting on social media numbers each time, to ensure we have data on our growth, which posts are popular etc. He aims to get the GPI onto platforms we have not used to date, such as Linkedln etc. The Social media data will enable the GPI to work smarter Sn terms of social media in the future, as well as being useful to show ACE in our reporting to them. 4. George Padmore Institute's Relations with New Beacon Books Ltd In 2023-24 the GPI'S relationship with New Beacon Books continued to remain challenging, with no rent increase implemented. The Trustees will review this in the 2024-25 financial year, as the current rent is minimal and has not been increased for many years. Page 8
John La Rose Trust known as George Padmore Institute Trustees, Report Icontinued) All bills for the building are in the GPI'S name and GPI Office Manager Teresa Palmiero invoices New Beacon Books for their share of them130Yo for utility bills, 65% of the business ratesl, as well as for the rent each month. New Beacon pay all their bills on time and they also regularly pay the GPI for the book sales they make each month. This system is working very smoothly, so financial issues between the two organlsations have become much more professional. 5. Financial review Income in the financial year 2023-2024 totalled £175,934 and expenditure was £79,935, resulting in a surplus of£95,999. With the donation from Sarah WhSte's will in February 2024, the GPI now has reserves of £50,000 to cover SIX months, running Costs. These are in a CAF Bank savings account, set up in Summer 2024. The Trustee5 have no additional uncertainties about the immediate prospects of the Trust being able to continue as a going concern. 6. AGM At the Annual General Meeting held on 5 November 2023, the following Trustees were elected to posts of responslbility.. Chairperson.. Roxy Harris Vlce ChaSrperson: Ali Husseln Secretary.. Chris Moffat Treasurer.. Sharmilla Beezmohun Statement of Trustees, Responslblllties The trustees are responsible for preparing the trustees, report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. The law applicable to charities require5 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 of the charity for that period. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and then apply them consistentlv,. observe the methods and principles in the Charities SORP,. make judgements and estimates that are reasonable and prudent,. state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements,. and prepare the flnancial statements on the going concern ba515 unless it is inappropriate to presume that the charity will continue in buslness. Page 9
John La Rose Trust known as George Padmore Institute Trustees, Report (continued) The trustees are responsible for keeping proper 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 complv with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constltution. The trustees are a150 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 corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. 2?.10.2 The annual report was approved by the tru5tee5 of the charity on . and signed on its behalf by.. SharmiliaDqezmohun Trustee Roxy Harris Trustee Page 10
John La Rose Trust known as George Padrnore Institute Independent Examlner's Report to the trustees of John La Rose Trust I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2024 whSch comprise the Statement of Financial Activitie5, the Balance Sheet and related notes. This report 15 made solely to the charity's trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity's trustees those matters l am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my work, for this report, or for the oplnions I have formed. Responslbllitles and basis of report As the charity trustees of John La Rose Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111'the Act'l. I report in respect of my examlnation of the John La Rose Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examinatlon I have followed all the applicable Directions given by the Ch3ritv Commission under section 14515llbl of the Act. An independent examination does not involve gathering all the evidence that would be required In an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently l express no opinlon as to whether the financial statements present a 'true and fair, view and my report is Ilmited to those specific matters set out in the independent examiner's statement. Independent examlney's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the Èxamination giving me cause to believe that in any material respect: l. accounting records were not kept in respect of John La Rose Trust as required by section 130 of the Act; or 2. the financial statements do not accord with those records,. or 3. the financial statements do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities IAccounts and Reports) Regulations 2008 other than anv requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination. 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. Page 11
John La Rose Trust known as George Padmore Institute Independent Examiner'5 Report to the trustees of John La Rose Trust (continued) Tim Sullivan FCA 9 Hare & Billet Road Blackheath SE3 ORB Page 12
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John La Rose Trust known as George Padmore Institute (Registration number: 1003001) Balance Sheet as at 31 March 2024 2024 2023 Note Fixed assets Tangible assets li 200,984 201,312 Current a55etS Debtors 12 976 103,352 2,894 8,698 Cash at bank and in hand 13 104,328 11,592 Creditors: Amounts falling due wlthln one year 14 12,4481 16,0391 Net current assets 101,880 5,553 Net assets 302,864 206,865 Funds of the charitv: Unrestricted Income funds Unrestricted funds 302,864 206,865 Total funds 16 302,864 206,865 The financial statements on pages 13 to 24 were approved by the trustees, and authorised for issue on 2?... ! o: ZAnd signed on their behalf by.. Sharmilla Beezmohun Trustee Roxy Harris Trustee The notes on pages 15 to 24 form an integral part of these financial statements. Page 14
John La Rose Trust known as George Padmore Institute Notes to the Financial Statements for the Year Ended 31 March 2024 I Charlty status The charity is domlciled in England and Wales. The address of its registered office is: 76 Stroud Green Road N4 3EN 2 Accountlng policies Statement of compliance The flnancial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Flnancial Reporting Standard appllcable in the UK and Republlc of Ireland IFRS 1021 (effective l January 20191 (Charities SORP IFRS 1021 Second edition October 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. They also comply with the Companies Act 2006 and Charitie5 Act 2011. Basis of preparatlon John La Rose Trust meets the definition of a public benefit entity under FRS 102. The accounts Ifinancial statements) have been prepared under the historical cost convention with items recognised at tost or transaction value unless otherwise stated in the relevant notelsl to these accounts, Going concern The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. Judgements and key source5 of estimation uncertalntv In the application of the charity's accounting pollcies, 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 experlence 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 ba515. Revisions to accounting estimates are recognised in the periods in which the estimate is revised where revisions affects only that period, or in the period of the revision and future periods where the revisions affects both current and future periods. Income and endowments Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognSsed when the charity has entitlement to the Income, It is probable that the income will be recelved and the amount can be measured with sufficient rellability. Page 15
John La Rose Trust known as George Padmore Institute Notes to the Financial Statements for the Year Ended 31 March 2024 {continued) Donations and lego¢Aes Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured. Grants recelvuble Grants are recognlsed when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released. Investment income DSvldends are recognised once the dividend has been declared and notification has been received of the dividend due. Expenditure All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement 15 required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate simllar costs to that category. Where costs cannot be directly attributed to particular headlngs they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basls of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Churitable actlvltles Charitable expenditure comprise5 those costs incurred by the charity in the delivery of its activities and service5 for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Support cost5 Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example. allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. Governance costs These include the costs attributable to the charity's compllance with constitutional and statutory requirements, includlng audit, strategic management and trustees meetings and reimbursed expenses. Taxation The charity is considered to pass the test5 set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporatlon tax purposes. Accordlngly, the charity is potentially exempt from taxation in respect of income or capital galn5 recelved within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Page 16
John La Rose Trust known as George Padmore Institute Notes to the Financial Statements for the Year Ended 31 March 2024 (continued) Tangible fixed assets Individual fixed assets Costing £250.00 or more are initially recorded at cost. Depreclatlon and amortisatlon Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows: Asset class Depreciation method and rate No depreciation is provided on building5 as the estimated residual value is not materially below the carrying value, and it's estimated useful life is so long to result in depreciation being immaterial 25% reducinE balance basis Land and buildings Office equipment Trade debtors Trade debtors are amounts due from customers for merchandise 501d or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently meas(tred at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignifltant risk of change in value. Borrowings Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Intere5t-bearing borrowings are subsequently carried at amortised cost, wlth the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowing5 are classified as current Ilabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. Page 17
John La Rose Trust known as George Padmore Institute Notes to the Financial Statements for the Year Ended 31 March 20241continued) Fund structure Unrestrlcted income funds are general fund5 that are available for use at the trustees discretion In furtherance of the objective5 of the charity. Designated funds are unrestricted fund5 set aside for specific purpose5 at the discretion of the trustees. Pensions and other post retlrement obllgatlons The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund doe5 not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defined contribution plans are recogni5ed in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for servSce, the exces5 15 recognised as a prepayment. 3 Income from donations and legacies Unrestrlcted funds Deslgnated Total 2024 Total 2023 Donations and legacies,. Donations from individuals Gift aid reclaimed Grants, including capital grants,. Arts Council England Arts Council England 92,419 966 10,012 4,769 73,000 73,000 10,568 73,000 166,385 25,349 4 Income from charitable actlvltles Total 2024 Total 2023 Book sales 1,167 5,731 2,351 227 9,160 5,552 Rental and rates Events and workshops Other income 9,476 14,712 Page 18
John La Rose Trust known as George Padmore Institute Notes to the Financial Statements for the Year Ended 31 March 2024 (continued) 5 Investment Income Unrestrlcted funds General Total funds Interest receivable and similar income: Interest receivable on bank deposits 73 73 Total for 2024 73 73 6 Expendlture on charitable actlvltle5 Unrestricted funds Designated Total 2024 Total 2023 Note Activity and workshops Staff costs 1,216 11,552 1,349 60,493 18,093 5,263 48,793 16,463 Support costs 12,768 79,935 70,519 7 Staff costs The aggregate payroll costs were as follows.. 2024 2023 Staff costs during the year were: Wages and salaries Pension cost5 59,298 1,195 47,754 1,039 60,493 48,793 No employee received emoluments of more than £60,000 during the year Page 19
John La Rose Trust known as George Padmore Institute Notes to the Financial Statements for the Year Ended 31 March 2024 {continued} 8 Analysls of support Costs Support costs Total 2024 Total 2023 Rent and rates Water rates 2,063 263 3,930 342 Light, heat and power Insurance 4,295 1,455 180 2.582 1.363 794 Repairs and maintenance Telephone and internet Administration 884 494 636 2,141 323 Printing and stationery Website and IT Sundries 150 6,044 104 882 459 Accountancy Legal and professional Royalties payable Bank charges Depreciation of office equipment {ProfStl/loss on sale of tangible fixed assets held for charity's own use 1,584 1,434 631 53 107 240 328 437 358 18,093 16,463 9 Trustees remuneration and expenses No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. No trustees have received any reimbufsed expenses or any other benefits from the charity during the year. 10 Taxation The charity is a registered charity and is therefore exempt from taxation. PaEe 20
John La Rose Trust known as George Padmore Institute Notes to the Financial Statements for the Year Ended 31 March 2024 (continued) 11 Tanglble fiKed assets Land and bulldlngs Furniture and equipment Total Cost At l April 2023 200,000 4,147 204,147 At 31 March 2024 200,000 4,147 204,147 Depreclatlon At l April 2023 Charge for the year 2,835 328 2,835 328 At 31 March 2024 3,163 3,163 Net book value At 31 March 2024 200,000 984 200,984 At 31 March 2023 200,000 1,312 201,312 12 Debtors 2024 2023 Prepayments Other debtors 472 510 504 2,384 976 2,894 13 Cash and cash equivalents 2024 2023 Cash on hand Cash at bank 134 103,218 8,698 103,352 8,698 Page 21
John La Rose Trust known as George Padmore Institute Notes to the Financial Statements for the Year Ended 31 March 2024 (continued) 14 Credltor5: amounts falllng due within one year 2024 2023 other taxation and social security Other creditors Accruals 207 930 4,398 1,434 1,518 2,448 6,039 15 Pension and other schemes Deflned contribution pen51on scheme The tharlty operates a deflned contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £1,06112023 - £1,039). 16 Funds Balance at I April 2023 Incomlng resources Resources expended Balance at 31 March 2024 Current period Unrestrlcted fund5 General General Funds 6,865 102.934 167,1671 42,632 Deslgnated GPI Designated Fund Arts Council England 200,000 200,000 60,232 73,000 112,7681 200,000 73,000 112,7681 260,232 Total funds 206,865 175,934 179,9351 302,864 Page 22
John La Rose Trust known as George Padmore Institute Notes to the Financial Statements for the Year Ended 31 March 2024 (continued) Balance at I April 2022 Incomlng resources Resources expended Balance at 31 March 2023 Prior perlod Unrestricted funds General General Funds 37,323 29,493 159,9511 6,865 De51gnoted Designated Funds 200,000 200,000 Total unrestrlcted funds 237,323 29,493 159,9511 206,865 Restricted funds Reachlng New Generations 10,568 110,568) Total funds 237,323 40,061 170,5191 206,865 The speclfic purposes for which the funds are to be applied are as follows.. Restricted funds for the Arts Council England-funded Reaching New Generations were to pay for.. the website redevelopment (including website design costs, making short films for the website and fees for the use of images by artist Errol Lloyd),. archive cataloguing system and upgrades to work on our website; a writer's residency leading to the writing of two children's books,. all publishing costs lor two children's books,. PR consultancy work to publlcise the two books,. and any other related costs for this specific projert as set out in our budget to Arts Council England. 17 Analysis of net a55et5 between funds Total funds at 31 March 2024 Unrestrlcted funds General Designated Tangible fixed assets Current assets 984 200,000 60,232 200,984 104,328 12,4481 44,096 12,4481 Current1Sablllties Total net assets 42,632 260,232 302.864 Page 23
John La Rose Trust known as George Padmore Institute Notes to the Financial Statements for the Year Ended 31 March 20241continued) Total funds at 31 March 2023 Unrestricted funds General Designated Tangible lixed assets Current assets 1,312 11,592 16,0391 200,000 201,312 11,592 16,0391 Current liabilities Total net assets 6,865 200,000 206,865 18 Related party transactlon5 During the year the charity made the followSng related party transactions: New Beacon Books Llmlted IGPI Trustee Janice Durham is also a director of New Beacon Books Ltd) During thè year John La Rose Trust received E4,883 from New Beacon Books Ltd comprising rent of the ground floor of 76 Stroud Green Road and associated bills, as well as for book sales of GPI publications made by New Beacon Books Ltd. At the balance sheet date the amount due to/from New Beacon Books Limited was £Nil 12023 - £Nil). Page 24