**(a Company Limited by Guarantee)**
## **Trustee’s report and financial statements**
**Registered charity number 1026463 Company number 2823933 Year ended 31 March 2025**
## CONTENTS
1. Reference and administrative information
2. Trustees’ report
3. Structure, governance and management
4. Independent examiners’ report
5. Financial information
2
REFERENCE AND ADMINISTRATIVE INFORMATION
**Board of Directors** (as at 31 March 2025)
Mrs Efthymia Symeou (Chair) Ms Ubah Egal Ms Saher Osman Ms Sofia Pechlivani Mrs Nina Rafti
## **Secretary**
Ms Koula Ioannou
## **Principal professional advisers**
The Kosmos Centre’s principal professional advisers include the following:
## **Bankers**
National Westminster Bank plc, 166 Camden High Street, London NW1 0NS
## **Independent examiner**
Aaron Smyth ACA 71 Maltings Place, London SW6 2BY
**Leadership team** (as at 31 March 2025)
Manager: Treasurer: Support worker: Finance/IT support:
Ms Koula Ioannou Ms Sofia Pechlivani Ms Androulla Vimalanathan Mr Dave Hastings
## **Registered office**
2C Falkland Road, Kentish Town, London NW5 2PT
## **Contact details**
T: 020 7267 7194 E: koula@ccwo.org.uk W: www.kosmoscentre.org.uk
CORPORATE DIRECTORY 3
## TRUSTEES’ REPORT
The Trustees, who are also the directors for the purposes on company law, present their report, together with financial statements, for the year ended 31 March 2025.
## **Structure, Governance and Management**
The Organisation is registered as a Private Company Limited by Guarantee. It is also a Registered Charity. Its objects, powers and constitution are set out in its Memorandum and Articles of Association. The business of the Organisation is managed by the Management Committee which must have no less than three and no more than eleven members.
## **Directors**
The Directors serving during the year and up to the date of approval of the financial statements were as follows:
Mrs Efthymia Symeou Ms Ubah Egal Ms Saher Osman Mrs Nina Rafti
**How we raised and spent the Company’s money in 2024/2025**
## **Income**
Funding for projects has been received from London Borough of Camden - Strategic Partners Fund and Camden Advice Partnership.
Total income decreased by £30,645 to £59,314 in 2024/2025 (2023/2024: £89,959), representing a 52% decrease, primarily due to a decline in funding from the London Borough of Camden. This income derives principally from grant income, rental income and investment income.
A detailed analysis of income is shown in the consolidated Statement of Financial Activities (SOFA) and Notes 2, 3 and 4 to the accounts.
## **Expenditure**
The Kosmos Centre continues to hire out office space in the building to Voice 4 Change England. We house The Somali Cultural Centre who provide services to the Somali community. We also provide Ad Hoc room hire to various groups in the community.
The Statement of Financial Activities (SOFA) shows the analysis of charitable activities, administrative, support and governance costs. Total spending on charitable activities, at £99,502 (2023/2024: £102,481), representing a 3% decrease, primarily due to limited cost cutting measures.
## **Plans for the future**
The building which is leased from the London Borough of Camden (20 years from 2015), our aim is for it to be used to its full potential by the members and the wider community. There is the opportunity to hire out meeting rooms to generate income. Office space is currently being rented out to a local charity (This is approved by Camden Property Services).
Income generation is an ongoing issue for the Kosmos Centre as it is for most groups in the voluntary sector. Our target is to undertake up to two major funding applications a year, with various applications for one off projects or events during the year.
REPORT OF THE MANAGEMENT COMMITTEE 4
## STRUCTURE, GOVERNANCE AND MANAGEMENT
## **GOVERNANCE**
The management of the registered charity (No. 2823933) and its assets is vested in the Trustees. The Charity is governed by memorandum and articles of association, adopted on 23 February 2015 and amended on 10 May 2016.
Part 2 of the Articles of Association provides that the number of directors shall not be less than 3 and not be subject to any maximum.
The power of appointing and removing Trustees is vested in the members of the Company. Trustees have the power to appoint any person to be a Trustee either to fill a casual vacancy or as an additional Trustee. Trustees are appointed to hold office for a period of two (2) years by resolution, passed at a general meeting.
Prospective Trustees must first be appointed directors of the Company through ordinary resolution of the existing directors. On appointment, directors become Trustees of the Kosmos Centre.
Newly appointed Trustees are given an introduction to their role, including guidance on their responsibilities as Trustees and the objectives of the Kosmos Centre. In addition, Trustees are provided with a copy of the Company’s memorandum and articles of association, information on the Company’s history and structure and its decision making processes, policies and future plans.
All Trustees are advised to read the guidance on the Charity Commission’s website at https://www.gov.uk/topic/runningcharity/Trustee-role-board.
New Trustees take part in an informal induction process. New guidance and good-practice information from the Charity Commission is communicated to Trustees.
None of the Trustees have a beneficial interest in the charity.
## **OBJECTIVES AND ACTIVITIES**
The objective of the organisation is the promotion of the benefit of women, their families particularly but not exclusively those of Black and Minority Ethnic (BME) origin within the London borough of Camden and surrounding areas, by the providing facilities, services and activities to improve their quality of life.
During the year we have continued to provide a variety of services and activities promoting physical and mental health and wellbeing including: workshops, exercise classes, social gatherings, trips and outings locally and further afield.
We continue to deliver high quality advice services, one to one drop-in, by appointment, email, telephone and by zoom. Our legal service also operated by email and zoom appointments. We continue to benefit from having the AQS standard mark for general advice and information and the OISC for immigration.
Staff and volunteers continue to contact the elderly and housebound, especially the vulnerable and those living on their own. They made regular contact by telephone.
We conduct an annual client satisfaction surveys which consistently show high levels of satisfaction.
## **RISK MANAGEMENT**
The Trustees have overall responsibility for ensuring that the Company has an appropriate system of controls, financial and otherwise. Systems of financial control are designed to provide reasonable, but not absolute, assurance against material misstatement or loss.
The Trustees carry out an annual review of the following categories of risk; governance and management, operational, external factors and compliance with laws and regulations. The Trustees will identify the primary risks applicable to the Society in each category and develop action plans to mitigate the risks identified.
## **FINANCIAL REVIEW**
Funding for projects has been received from the London Borough of Camden - Strategic Partners Fund and Camden Advice Partnership.
The Kosmos Centre continues to hire out office space in the building to Voice 4 Change England. We house The Somali Cultural Centre who provide services to the Somali community. We also provide Ad Hoc room hire to various groups in the community.
Net decrease in funds in the year was £40,188 (2023/2024: £12,522). Funds carried forward at the year-end totalled £43,165.
Cash and cash equivalents at the year-end was £56,694 (2023/2024: £98,816).
## **Reserves policy**
Funds generated primarily from the London Borough of Camden are used to provide services to the local community. The Trustees reserve the right to utilise accumulated funds to meet shortfalls in annual income and also to fund any major initiatives that are identified.
STRUCTURE, GOVERNANCE AND MANAGEMENT
5
## STRUCTURE, GOVERNANCE AND MANAGEMENT
The Trustees consider it appropriate to hold unrestricted funds of at least £25,000 to provide support for future projects and operating costs. The Trustees will review this amount at least annually.
Running costs per year are estimated to be in the region of £90,000 to £100,000. As at 31 March 2025, the Company held total unrestricted funds of £32,220 (2024: £81,313), currently exceeding the minimum level reserves.
## **PLANS FOR FUTURE PERIODS**
The building which is leased from the London Borough of Camden (20 years from 2015), our aim is for it to be used to its full potential by the members and the wider community. There is the opportunity to hire out meeting rooms to generate income. Office space is currently being rented out to a local charity. (This is approved by Camden Property Services) We are setting aside funds in the buildings fund for redecoration and repairs.
Income generation is an ongoing issue for the Kosmos Centre as it is for most groups in the voluntary sector. Our target is to undertake up to two major funding applications a year, with various applications for one off projects or events during the year.
## **STATEMENT OF TRUSTEE’S RESPONSIBILITIES**
The Trustees, who are directors for the purpose of company law and Trustees for the purpose of charity law, who served during the year and up to the date of this report are set out on page one.
Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and its incoming resources and the application of resources, including its income and expenditure for that period.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities Act 2011; the Charity (Accounts and Reports) Regulations 2008/629 (Regulation 8); and the provisions of the Articles of Association. They are responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year, and 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 Statement of Recommended Practice (SORP) http://www.charitysorp.org/;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on a going-concern basis unless it is inappropriate to assume that the Charity will continue in operation.
## **PUBLIC BENEFIT STATEMENT**
The Trustees confirm that they have complied with the duty in section 4 of the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit, “Charities and Public Benefit”.
The Kosmos Centre provides a range of services and activities to women and their families particularly but not exclusively of black and minority ethnic origin in the London borough of Camden and surrounding area.
These financial statements have been prepared in accordance with the Statement of Recommended Practice – Accounting and Reporting by Charities (issued in March 2005) and in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small entities.
Approved by the Trustees on 30 April 2026 and signed on their behalf by:
**Efthymia Symeou** Chair
30 April 2026
STRUCTURE, GOVERNANCE AND MANAGEMENT 6
## INDEPENDENT EXAMINER’S REPORT
## **Independent examiner’s report to the Trustees of the Kosmos Centre**
We report on the accounts of the Kosmos Centre for the year ended 31 March 2025 which are set out on pages 8 to 15.
## **Responsibilities of Trustees and Independent Examiner**
As the Trustees of the Company (and its directors for the purpose of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006.
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011. The Charity’s Trustees are responsible for the preparation of the accounts. The Trustees consider that an audit is not required for this year under section 144(2) of the Act, but that an independent examination is needed under section 145(1)(a).
It is my responsibility to:
(i) examine the accounts under section 145(1)(a) of the 2011 Act;
(ii) to follow the procedures laid down in general Directions given by the Charity Commission under section 145(5)(b) of the Act; and
(iii) to state whether particular matters have come to my attention.
## **Basis of independent examiner’s report**
My examination was carried out in accordance with the general directions given by the Charity Commission and published at the following location:
https://www.gov.uk/government/publications/independent-examination-of-charity-accounts-examiners-cc32
The examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the Trustees concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’, and the report is limited to those matters set out in the statement below.
## **Independent examiner’s statement**
No matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the following requirements of the Act have not been met:
(i) to keep accounting records in accordance with section 130 of the Act; and
(ii) to prepare accounts which accord with the accounting records and comply with accounting requirements; or (2) to which, in my opinion attention should be drawn in order to enable a proper understanding of the accounts to be reached. Aaron Smyth ACA For and on behalf of Throsby Limited **Chartered Accountants** 5 May 2026[ag]
INDEPENDENT EXAMINERS’ REPORT 7
## FINANCIAL INFORMATION
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025**
|**Note**
**Income**
Donations & gifts
3
Charitable activities
4
Investment income
London Borough of Camden
**Total income**
**Expenditure**
Charitable activities
5
Governance costs
6
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds**
Funds b/fwd at 1 April
Net movement in funds
**Funds c/fwd at 31 March**|**Unrestricted**
**Restricted**
**Total**
Unrestricted
Restricted
Total
**Funds**
**Funds**
**Funds**
Funds
Funds
Funds
**2025**
**2025**
**2025**
2024
2024
2024
**£**
**£**
**£**
£
£
£
**744**
**744**
89
89
**12,420**
**12,420**
15,620
15,620
**1,150**
**1,150**
1,607
1,607
**15,000**
**30,000**
**45,000**
30,000
42,643
72,643|
|---|---|
||**29,314**
**30,000**
**59,314**
47,316
42,643
89,959|
||**75,138**
**21,095**
**96,233**
55,384
42,828
98,212
**3,269**
**3,269**
4,269
4,269|
||**78,407**
**21,095**
**99,502**
59,653
42,828
102,481|
||**(49,093)**
**8,905**
**(40,188)**
(12,337)
(185)
(12,522)|
||**81,313**
**2,040**
**83,353**
93,650
2,225
95,875
**(49,093)**
**8,905**
**(40,188)**
(12,337)
(185)
(12,522)|
||**32,220**
**10,945**
**43,165**
81,313
2,040
83,353|
The above statement of financial activities should be read in conjunction with the accompanying notes.
The Kosmos Centre’s operations represent continuing activities.
THE KOSMOS CENTRE FINANCIAL INFORMATION FOR THE YEAR ENDED 31 MARCH 2025
8
## FINANCIAL INFORMATION
## **STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2025**
|**AS AT 31 MARCH 2025**||||
|---|---|---|---|
|||**2025**|2024|
||**Note**|**£**|£|
|**Current assets**||||
|Cash and cash equivalents||**56,694**|98,816|
|Debtors|8|**1,101**|450|
|**Total assets**||**57,795**|99,266|
|**Current liabilities**||||
|Creditors due within one year|9|**(14,630)**|(15,913)|
|**Net assets**||**43,165**|83,353|
|**Charity funds**||||
|Restricted funds|10|**10,945**|2,040|
|Unrestricted funds|10|**32,220**|81,313|
|**Total charity funds**||**43,165**|83,353|
The above balance sheet should be read in conjunction with the accompanying notes.
The Company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2005.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements on pages 8 to 9 were approved by the Trustees on 30 April 2026 and signed on their behalf by:
**Efthymia Symeou** Chair
The Kosmos Centre
30 April 2026
Company registration No. 2823933 Charity No. 1026463
THE KOSMOS CENTRE FINANCIAL INFORMATION FOR THE YEAR ENDED 31 MARCH 2025
9
FINANCIAL INFORMATION
## **NOTES ON THE FINANCIAL STATEMENTS**
## **1. ACCOUNTING POLICIES**
## **Charity information**
The Kosmos Centre (the “Company”) is a public benefit entity. The Company is limited by guarantee and incorporated in England and Wales. The registered office is 2C Falkland Road, Kentish Town, London NW5 2PT.
## **(a) Basis of preparation**
These accounts have been prepared in accordance with Financial Reporting Standard 102 – ‘The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (‘FRS 102’) and with the Statement of Recommended Practice ‘Accounting and Reporting by Charities’ FRS 102 (effective 1 January 2019, together with the reporting requirements of the Charites Act 2011 (Amended 2026) and the Companies Act 2006).
The Trustees have chosen to adopt the Update Bulletin 1 issued by the Charities Commission on 2 February 2016 which exempts the charity from the need to prepare a Statement of Cash-flows.
These financial statements have been prepared on the historical-cost convention.
The accounting policies have been applied consistently throughout the accounts and for the prior year.
## **(b) Going concern**
The Trustees performed a going concern assessment for a period of 12 months from the approval of these financial statements, which indicates that the Company is able to continue as a going concern. This assessment is primarily based on less funding being received from the London Borough of Camden. The assessment of the trustees is that urgency needs to be given to raising more funds, and to carry out cost cutting measures, including a reduction is staffing hours. Plans are being actively considered to relocate the organisation to more cost effective premises. The management committee will continue to review the cash position of the Charity on a monthly basis.
In performing their assessment, the Trustees have considered both a base case as well as a severe but plausible downside scenario in relation to the key risks identified in the base case. As a result of their enquiries and assessment, the Trustees believe that the charity will have sufficient funds to continue operations for at least the next 12 months. As a result, there are no material uncertainties in respect of the charity’s ability to continue as a going-concern for the foreseeable future, based on latest strategic plans and financial budgets.
## **(c) Income**
Income, gross of related expenditure is recognised in the period in which entitlement is established, when economic benefit is probable (but not virtually certain), and the value can be measured reliably.
## **(d) Expenditure**
Operating expenditure is recognised on an accruals basis and classified under Charitable expenditure (Note 5). Charitable expenditure comprise direct expenditure associated with fundraising or charitable activity, including donations made and related support costs, and expenditure associated with the governance arrangements of the charity, including the general running costs.
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure.
## **(e) Employee benefits**
Expenditure on raising funds comprises the costs incurred in commercial trading activities, fundraising, and managing investments. Expenditure on raising donations includes the costs of advertising and website costs to promote the Society’s activities.
## **(f) Governance costs**
Governance costs comprise all costs involving the public accountability of the Charity and its compliance with regulation and good practice. These costs include costs related to fees the independent examiner’s fee together with costs relating to compliance and statutory requirements, including directors and officers’ insurance.
## **(g) Cash and cash equivalents**
General reserves are unrestricted funds that are available for use at the Trustees’ discretion in furtherance of the objects of the charity.
THE KOSMOS CENTRE FINANCIAL INFORMATION FOR THE YEAR ENDED 31 MARCH 2025
10
## FINANCIAL INFORMATION
## **NOTES TO THE FINANCIAL STATEMENTS**
……. continued
## _**Basic financial assets**_
Unlisted investments are included on the balance sheet at their fair value using the closing market bid price. Current asset investments have a maturity date or expected disposal date of less than one year and are not held for long-term investment purposes. The SoFA includes realised gains and losses on investments sold in the year and unrealised gains and losses on the revaluation of investments.
## _**Basic financial liabilities**_
Provisions for future liabilities are recognised when the Charity has a legal or constructive financial obligation that can be reliably estimated and for which there is an expectation that payment will be made.
## _**Derecognition of financial liabilities**_
Provisions for future liabilities are recognised when the Charity has a legal or constructive financial obligation that can be reliably estimated and for which there is an expectation that payment will be made.
## **(h) Charitable funds**
Restricted funds comprise amounts donated to the Company for specific objectives specific by the donor or by the nature of fundraising.
Other funds are unrestricted and are available to the Company to further any of its charitable activities.
## **(j) Accounting estimates and key judgements**
Critical estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Matters requiring judgment and that have a significant risk of causing a material adjustment to liabilities, if different judgment was taken, are discussed below.
The Company took out a 20-year lease on a Camden Council property on 1 March 2016. The terms of the lease require the property to be returned to its original condition.
FRS 102, paragraphs 8.6 and 8.7 require disclosures concerning judgements and key sources of estimation uncertainty. A provision is only recognised in the financial statements if there is a present obligation as a result of a past event. In the opinion of the Trustees, as the state of the property was poorly maintained at lease commencement and no damage has been caused to the property, there is no obligation and, consequently, no provision is required.
## **2. Staff costs and Trustees’ remuneration**
The average number of employees during the year was:
|Total
**Staff costs**
Wages & salaries
There were no employees whose annual remuneration was more than £60,000.
**Remuneration of key management personnel**
The remuneration of key management personnel was as follows:
Aggregate compensation|**2025**
2024
**Number**
Number|
|---|---|
||**1**
1|
||**2025**
2024
**£**
£|
||**48,194**
47,891|
||**2025**
2024
**£**
£|
||**39,272**
43,727|
Management costs include the cost of the Company’s officers, who assisted in generating funds, service delivery and programme or project related work.
THE KOSMOS CENTRE FINANCIAL INFORMATION FOR THE YEAR ENDED 31 MARCH 2025 11
## FINANCIAL INFORMATION
## **NOTES TO THE FINANCIAL STATEMENTS**
……. continued
|**3.**
**Donations and endowments**|**Unrestricted**|**Restricted**|**Total Funds**|Total Funds|
|---|---|---|---|---|
||**funds**|**funds**|**2025**|2024|
||**£**|**£**|**£**|£|
|Donations and gifts|**744**|
**744**||89|
|**4.**
**Income**|||**Unrestricted**|Unrestricted|
||||**funds**|funds|
||||**2025**|2024|
||||**£**|£|
|Rental income|||**12,420**|14,580|
|Other income|||1,040||
||||**12,420**|15,620|
|**5.**
**Expenditure**|||**Unrestricted**|Unrestricted|
||||**funds**|funds|
||||**2025**|2024|
||||**£**|£|
|**Charitable expenditure**|||||
|Accounting fees|||**4,414**|2,250|
|Governance costs (see note 6)|||**3,269**|4,269|
|Grant of funding activities|||
5,644||
|Outings, events & activities|||**5,232**|5,764|
|Staff costs|||**48,195**|47,891|
|Support costs (see note 7)|||**36,852**|34,562|
|Volunteer expenses|||**1,540**|2,101|
|**Total expenditure**|||**99,502**|102,481|
|**Analysis by fund**|||||
|Restricted funds|||**21,095**|42,828|
|Unrestricted funds|||**78,407**|59,653|
||||**99,502**|102,481|
|**6.**
**Governance costs**|||**Unrestricted**|Unrestricted|
||||**funds**|funds|
||||**2025**|2024|
||||**£**|£|
|Independent examiners’ fees|||**3,000**|4,000|
|Insurance|||**269**|269|
||||**3,269**|4,269|
|**7.**
**Support costs**|||**Unrestricted**|Unrestricted|
||||**funds**|funds|
||||**2025**|2024|
||||**£**|£|
|Administration|||**12,815**|15,398|
|Legal and professional
**3,825**
Premises
**20,212**
19,164|||||
||||**36,852**|34,562|
THE KOSMOS CENTRE FINANCIAL INFORMATION FOR THE YEAR ENDED 31 MARCH 2025 12
## FINANCIAL INFORMATION
## **NOTES TO THE FINANCIAL STATEMENTS**
## ……. continued
|**8.**
**Debtors**
Trade debtors
Other debtors
**9.**
**Creditors due within one year**
Accruals
Bank overdraft
Other taxation and social security|**2025**
2024
**£**
£
**450**
450
**651**
|
|---|---|
||**1,101**
450|
||**2025**
2024
**£**
£
**10,540**
8,140
**1,068**
6,124
**2,871**
1,649|
||**14,479**
15,913|
## **10. Restricted funds**
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions of donors as to how they may be used.
||**At 1 April**|**Income**|**Expenditure**|**At 31 March**|
|---|---|---|---|---|
||**2024**|||**2025**|
||**£**|**£**|**£**|**£**|
|LBC Advice Services
**185**
**15,000**
**(15,185)**
LBC Resilience
**1,855**
**15,000**
**(5,910)**
**10,945**|||||
||**2,040**|**30,000**|**(21,095)**|**10,945**|
|**Previous year:**|At 1 April|Income|Expenditure|At 31 March|
||2023|||2024|
||£|£|£|£|
|LBC Advice Services|2,225|32,500|(34,540)|185|
|LBC Resilience|10,143||(8,288)|1,855|
||2,225|42,643|42,828|2,040|
LBC Advice Services is restricted grant income from the London Borough of Camden. These funds are applied to the provision of free advice and information services to ethnic minority women and their families within the London Borough of Camden.
We draw attention to Note 1, which sets out the withdrawal of funding from the London Borough of Camden. The LBC Resilience Fund is restricted grant income from the London Borough of Camden for the purpose of assessing the Company’s future business plans and strategic initiatives.
## **11. 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.
|Unrestricted funds
**Previous year:**
Unrestricted funds|**At 1 April**
**Income**
**Expenditure**
**At 31 March**
**2024**
**2025**
**£**
**£**
**£**
**£**
**81,313**
**29,314**
**(78,407)**
**32,220**|
|---|---|
||At 1 April
Income
Expenditure
At 31 March
2023
2024
**£**
**£**
**£**
**£**
93,650
47,316
(59,653)
81,313|
THE KOSMOS CENTRE FINANCIAL INFORMATION FOR THE YEAR ENDED 31 MARCH 2025 13
## FINANCIAL INFORMATION
## **NOTES TO THE FINANCIAL STATEMENTS**
## ……. continued
## **12. Analysis of net assets between funds**
Fund balances at the end of the financial year are represented by:
|Current assets/(liabilities)
**13.**
**Analysis of net assets between funds**
**As at 31 March 2024**
Current assets/(liabilities)
**14.**
**Net movement in funds**
The net movement in funds is stated after
charging/(crediting):
Independent examination fee|**Unrestricted**
**Restricted**
**Total**
**funds**
**funds**
**2025**
**2025**
**2025**
**£**
**£**
**£**
**32,220**
**10,945**
**43,165**|**Unrestricted**
**Restricted**
**Total**
**funds**
**funds**
**2025**
**2025**
**2025**
**£**
**£**
**£**
**32,220**
**10,945**
**43,165**|
|---|---|---|
||Unrestricted
Restricted
Total
funds
funds
2024
2024
2024
£
£
£
81,313
2,040
83,353||
|||**2025**
2024
**£**
£
3,000
4,000|
## **15. Taxation**
The charitable company is exempt from Corporation Tax on its charitable activities under section 466 to 493 of the CTA 2010.
## **16. Capital**
The Kosmos Centre is a company limited by Guarantee and has no share capital. In the event of the Company being wound up, the liability is limited to £1.
## **17. Related party transactions**
There were no other related party transactions during the year (2023/2024: £nil).
THE KOSMOS CENTRE FINANCIAL INFORMATION FOR THE YEAR ENDED 31 MARCH 2025
14
## FINANCIAL INFORMATION
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025**
|**Income and expenditure account**|**2025**|2024|
|---|---|---|
||**£**|£|
|**Income**|||
|Donations received
**744**
Interest received
**1,150**
1,607|||
|London Borough of Camden|**45,000**|72,732|
|Other income|
1,010||
|Rental income|**12,420**|14,580|
|Total income|**59,314**|89,989|
|**Expenditure**|||
|Accounting fees|**4,414**|2,519|
|Business rates|**3,945**|11,414|
|Events & activities|**6,772**|7,866|
|Grant funding of activities|
5,644||
|Other premises costs|**9,015**|9,132|
|Printing, postage and miscellaneous costs|**527**|1,400|
|Professional consultants
**3,825**
Rent
**16,267**
7,750|||
|Staff costs|**48,194**|47,891|
|Telephone|**3,274**|4,596|
||**96,233**|98,212|
|**Governance costs**|||
|Independent examiners’ fee|**3,000**|4,000|
|Insurance|**269**|269|
|Total governance costs|**3,269**|4,269|
|Total expenditure|**99,502**|102,481|
|Net incoming/(outgoing) movement in funds|**(40,188)**|(12,522)|
|**Reconciliation of funds**|||
|Funds brought forward at 1 April 2024|**83,353**|95,875|
|**Funds carried forward at 31 March 2025**|**43,165**|83,353|
All incoming resources and resources expended derive from continuing activities.
The charity has no recognised gains or losses for the year other than the results above.
THE KOSMOS CENTRE FINANCIAL INFORMATION FOR THE YEAR ENDED 31 MARCH 2025
15