2023-03-31-accounts

			Page
Reference and administrative details	ofthe charity,	its Trustees and advisers
Trustees' report			2-9
Trustees' responsibilities statement			10
Independent auditors' report on the	financial statements		11-14
Consolidated statement offinancial	activities		15
Consolidated balance sheet			16-17
Charity balance sheet			18-19
Consolidated statement ofcash flows			20
Charity statement ofcash flows			21
Notes to the financial statements			22-45

Trustees			M Coles, Chair
			E Marshall
			R Madan
			Dr M Owens
			N Smales
			BSmith
			C Smith
			C Swift
			S Pallister
Company	registered
number			03031923
Charity registered
number			1046958
Registered		office	183Bow Road
			London
			E32SJ
Company	secretary		M Baettig
Chief executive officer			M Baettig
Independent		auditors	RPG Crouch Chapman
			5th Floor
			14-16Dowgate	Hill
			London
			EC4R 2SU
Bankers			Lloyds Bank Pic
			PO Box1000
			BX1 1LT
			Aldermore Bank
			1st Floor, Block	B
			Western House
			Lynch Wood
			Peterborough
			PE2 6FZ

			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
			2023	2023	2023	2022
		Note	E	E	F
Income from:
Donations and legacies		4	610,902	346,321	957,223	966,200
Charitable activities:
License fees, service charges and
rents receivable			1,498,535		1,498,535	1,304,337
Education income			243,010		243,010	206,383
Gallery income			32,688		32,688	19,306
Other income			38,883		38,883	10,443
Enterprise and placemaking			4,807		4,807	51,151
Other trading activities			399,751		399,751	208,392
Investments			14,552		14,552	12,662
Total income			2,843,128	346,321	3,189,449	2,778,874
Expenditure on:
Charitable activities		8	1,951,938	254,351	2,206,289	1,908,358
Other expenditure	(non-charitable)		395,086		395,086	229,086
Total expenditure			2,347,024	254,351	2,601,375	2,137,444
Net movement in funds			496,104	91,970	588,074	641,430
Reconciliation offunds:
Total funds brought	forward		2,470,984	200,741	2,671,725	2,030,295
Net movement in funds (as
restated)			496,104	91,970	588,074	641,430
Total funds carried	forward		2,967,088	292,711	3,259,799	2,671,725

					2023		2022
			Note		f
Fixed assets
Tangible assets			14		3,734,844		738,852
					3,734,844		738,852
Current assets
Debtors: amounts	falling	due within one
year			16	560,809		871,806
Cash at bank and	in hand			1,316,843		2,824,390
				1,877,652		3,696,196
Creditors: amounts	falling due within
one year			17	(849,705)		(1,150,374)
Net current assets					1,027,947		2,545,822
Total assets less current		liabilities			4,762,791		3,284,674
Creditors: amounts	falling due after
more than one year					(1,502,992)		(612,949)
Total net assets					3,259,799		2,671,725
Charity funds
Restricted funds			19		292,711		200,741
Unrestricted funds			19		2,967,088		2,470,984
Total funds					3,259,799		2,671,725

				2023		2022
		Note
Fixed assets
Tangible assets		14		3,270,353		254,128
Investments		15		1		1
				3,270,354		254,129
Current assets
Debtors: amounts	falling due after more
than one year		16	341,325		321,282
Debtors: amounts	falling due within one
year		16	679,299		1,061,383
Cash at bank and	in hand		1,201,798		2,677,853
			2,222,422		4,060,518
Creditors: amounts	falling due within
one year		17	(728,784)		(1,031,953)
Net current assets				1,493,638		3,028,565
Total assets less current liabilities				4,763,992		3,282,694
Creditors: amounts	failing due after
more than one year				(1,502,992)		(612,949)
Total net assets				3,261,000		2,669,745
Charity funds
Restricted funds		19		292,711		200,741
Unrestricted funds		19		2,968,289		2,469,004
Total funds				3,261,000		2,669,745

	FOR	THE Y	EAR ENDED 31 MARCH 2023
				2023f	2022 E
Cash flows from operating	activities
Net cash provided by operating activities				1,499,226	928,457
Cash flows from investing	activities
Dividends, interests and rents from		investments		14,552	12,662
Purchase oftangible fixed	assets			(3,021,325)	(318,436)
Net cash used in investing	activities			(3,006,773)	(305,774)
Cash flows from financing	activities
Net cash provided by financing activities
Change in cash and cash equivalents		in the	year	(1,507,547)	622,683
Cash and cash equivalents	at the beginning		ofthe year	2,824,391	2,201,708
Cash and cash equivalents	at the end	ofthe	year	1,316,844	2,824,391
The notes on pages 22 to	45 form part ofthese financial statements

FOR THE Y	EAR ENDED 31 MARCH 2023
		2023f	2022
Cash flows from operating activities
Net cash provided by operating activities		1,528,184	774,422
Cash flows from investing activities
Dividends, interests and rents from investments		14,552	12,662
Purchase of tangible assets		(3,018,792)	(246,358)
Net cash used in investing activities		(3,004,240)	(233,696)
Cash flows from financing activities
Net cash provided by financing activities
Change in cash and cash equivalents in the	year	(1,476,056)	540,726
Cash and cash equivalents at the beginning	ofthe year	2,677,854	2,137,128
Cash and cash equivalents at the end ofthe	year	1,201,798	2,677,854
The notes on pages 22 to 45 form part ofthese financial statements

Long-term	leasehold	not depreciated	not depreciated
property
Short-term	leasehold	over the	length ofthe lease
property
Fixtures and fittings		20% reducing	balance
Cafe equipment		20% straight	line
Live/ Work	improvements	over three years

		Un-
		restricted	Restricted	Total	Total
		funds	funds	funds	funds
		2023f	2023f	2023f	2022
	Grants and donations	610,902	346,321	957,223	966,200
	Total 2022	759,875	206,325	966,200
5.	Other income

			Un-
			restricted	Total	Total
			funds	funds	funds
			2023f	2023f	2022
Admin fees					3,930
MGETR	Tax	relief	10,205	10,205
Key costs					247
Nunnery	Cafe rent				1,300
Management		fees			3,000
Miscellaneous			28,678	28,678	1,966
			38,883	38,883	10,443

			Un-
			restricted	Total	Total
			funds	funds	funds
			2023f	2023f	2022f
	Place making	income	114,432	114,432	32,723
	Fees receivable		58,059	58,059	29,488
	Service charge receivable		27,397	27,397	16,018
	Project Income		19,703	19,703	3,815
	Cafe income		111,176	111,176	86,005
	Management	fees	56,153	56,153	40,000
	Space hire income		12,831	12,831	5
	Other income				338
			399,751	399,751	208,392
	Total 2022		208,392	208,392
7.	Investment income

		Un-
		restricted	Total	Total
		funds	funds	funds
		2023f	2023f	2022f
Bank	and other interest receivable	14,552	14,552	12,662
Total	2023	14,552	14,552	12,662
Total	2022	12,662	12,662

			Un-
			restricted	Restricted
			funds	funds	Total	Total
			2023f	2023f	2023f	2022f
Expenditure	on charitable	activities	1,951,938	254,351	2,206,289	1,908,358
Total 2023			1,951,938	254,351	2,206,289	1,908,358
Total 2021			1,675,462	232,896	1,908,358

			Direct	Support	Total	Total
			Costs	Costs	funds	funds
			2023f	2023	2023f	2022f
Provision ofCreative		Workspace	1,058,641	205,773	1,264,414	1,082,531
Education	Projects		479,900	93,280	573,180	469,597
Gallery Programme		8 Events	176,611	34,329	210,940	148,628
Enterprise	& Placemaking		62,293	12,108	74,401	112,059
Governance				83,356	83,356	95,543
			1,777,445	428,846	2,206,291	1,908,358
Total 2022			1,482,788	425,570	1,908,358

					2023	2022
					E
Fees payable	to the charity's	auditor	for the audit ofthe charity's
annual accounts					7,800	6,500
Fees payable	to the charity's	auditor	in	respect of:
Taxation services					6,049
The auditing	ofaccounts of	subsidiaries		ofthe charity	4,950	4,850

Staff costs
	Group	Group	Charity	Charity
	2023	2022	2023	2022
	E	E	E	F
Wages and salaries	737,384	583,198	737,384	583,198
Social security costs	67,524	49,272	67,524	49,272
Pension costs	52,792	91,601	52,792	91,601
	857,700	724,071	857,700	724,071

		Group	Group	Charity	Charity
		2023	2022	2023	2022
		No.	No.	No.	No.
Total	employees	26	21	26	21

Group	Group
2023	2022
No.	No.

benefits from services pro benefits was as follows:	vided to the charity. The	value of Trustee	s' remuneration	and other
			2023	2022
Dr M Owens	Consultancy	Services		19,200
N Smales	Consultancy	Services		2,000
S Pallister	Consultancy	Services	500

	Long-term	Short-term
	leasehold	leasehold	Fixtures and	Cafe
	property f	property f	fittings f	Equipment f	Total f
Cost or valuation
At 1 April 2022	246,357	486,408	29,397	15,916	778,078
Additions	3,018,791			2,534	3,021,325
At 31 March 2023	3,265,148	486,408	29,397	18,450	3,799,403
Depreciation
At 1 April 2022		8,107	21,626	9,493	39,226
Charge for the year		19,132	2,566	3,635	25,333
At 31 March 2023		27,239	24,192	13,128	64,559
Net book value
At 31 March 2023	3,265,148	459,169	5,205	5,322	3,734,844
At 31 March 2022	246,357	478,301	7,771	6,423	738,852

	Long-term
	leasehold	Fixtures and
	property f	fittings f	Total
Cost or valuation
At 1 April 2022	246,357	29,397	275,754
Additions	3,018,791		3,018,791
At 31 March 2023	3,265,148	29,397	3,294,545
Depreciation
At 1 April 2022		21,626	21,626
Charge for the year		2,566	2,566
At 31 March 2023		24,192	24,192
Net book value
At 31 March 2023	3,265,148	5,205	3,270,353
At 31 March 2022	246,357	7,771	254,128

	Investments
	in subsidiary
charity	companies f
Cost or valuation
At 1 April 2022
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022

			Charity	Charity
			2023f	2022
Due after more than one year
Arts Council Capital Grant			341,325	321,282
	Group	Group	Charity	Charity
	2023f	2022f	2023f	2022
Due within one year
Trade debtors	285,616	239,155	134,740	137,789
Amounts owed by group undertakings			261,038	283,267
Other debtors	3,659	56,774	3,659	55,997
Prepayments and accrued income	271,534	575,877	265,022	572,855
Arts Council Capital Grant			14,840	11,475
	560,809	871,806	679,299	1,061,383

			Group	Group	Charity	Charity
			2023	2022	2023	2022
			6	6	6	6
Bank loans			70,000	58,333	70,000	58,333
Trade creditors			284,168	117,580	261,044	105,737
Arts Council Capital Grant			14,840	11,475	14,840	11,475
Other taxation	and social security		22,108	18,524
Other creditors			283,892	266,030	276,421	251,115
Accruals and deferred		income	174,697	678,432	106,479	605,293
			849,705	1,150,374	728,784	1,031,953
			Group	Group	Charity	Charity
			2023	2022	2023	2022
			6		6	6
DEFERRED INCOME
Opening balance			268,882	227,313	200,742	227,313
Received in the	year		142,395	268,882	79,276	200,742
Released in the year			(268,882)	(227,313)	(200,742)	(227,313)
Closing balance			142,395	268,882	79,276	200,742

	Group	Group	Charity	Charity
	2023f	2022f	2023f	2022
Bankloans	1,161,667	291,667	1,161,667	291,667
Arts Council Capital Grant	341,325	321,282	341,325	321,282
	1,502,992	612,949	1,502,992	612,949

			Group	Group	Charity	Charity
			2023	2022f	2023f	2022f
Payable or repayable	by instalments		5,833	11,667	5,833	11,667
Payable or repayable	other than	by
instalments				275,385		275,385
			5,833	287,052	5,833	287,052

Statement offunds
Statement offunds - current	year
					Balance at
	Balance at 1			Transfers	31 March
	April 2022 E	Income E	Expenditure f	in/out E	2023 E
Unrestricted funds
Designated funds
Resilience fund	1,561,000			(1,176,000)	385,000
General funds
General funds	909,984	2,843,128	(2,347,024)	1,176,000	2,582,088
Total Unrestricted funds	2,470,984	2,843,128	(2,347,024)		2,967,088
Restricted funds
LBTH Carbon Reduction		10,000	(2,145)		7,855
Arts Council NPO Grant	10,009	16,980	(20,863)		6,126
HLF Grant (Plastics)
HLF Grant (Textiles)
Paul Harnlyn - More 8 Better	63,961		(54,987)		8,974
Vauxhall New Development
Education projects	64,260	63,103	(91,744)		35,619
Furlough Grant
Thamesrnead Arts Chest	35,232	4,100	(4,321)		35,011
ACE NPO Bow Skills	4,450	138			4,588
HLF Emergency Funding
East London Art Prize
(Minerva)	2,083	20,000	(22,083)
Paul Harnlyn -Social Justice
Fund	20,746	65,000	(48,442)		37,304
East London Art Prize
(Private Grant)		167,000	(9,766)		157,234
	200,741	346,321	(254,351)		292,711
Total of funds	2,671,725	3,189,449	(2,601,375)		3,259,799

Statement offund	s - prior ye	ar
						Balance at
		Balance at			Transfers	31 March
		1 April 2021	Income	Expenditure	In/out	2022
		F			F	F
Unrestricted funds
Designated funds
Resilience fund		941,000			620,000	1,561,000
General funds
General funds		863,972	2,572,549	(1,904,548)	(621,989)	909,984
Total Unrestricted	funds	1,804,972	2,572,549	(1,904,548)	(1,989)	2,470,984
Restricted funds
LBTH Carbon Reduction
Arts Council NPO	Grant	3,168	10,185	(10,176)	6,832	10,009
HLF Grant (Plastics)		149			(149)
HLF Grant (Textiles)		1,277			(1,277)
Paul Hamlyn - More 8 Better		100,530		(33,690)	(2,879)	63,961
Vauxhall New Development		34,048		(34,048)
Education projects		86,151	83,110	(94,470)	(10,531)	64,260
Furlough Grant			12,547	(12,547)
Thamesrnead Arts	Chest		30,757		4,475	35,232
ACE NPO Bow Skills			2,643	(901)	2,708	4,450
HLF Emergency Funding				(2,810)	2,810
East London Art Prize
(Minerva)			2,083			2,083
Paul Hamlyn - Social Justice
Fund			65,000	(44,254)		20,746
East London Art Prize
(Private Grant)
		225,323	206,325	(232,896)	1,989	200,741
Total of funds		2,030,295	2,778,874	(2,137,444)		2,671,725

Analysis	ofnet assets between	funds - current year
			Un-
			restricted	Restricted	Total
			funds	funds	funds
			2023 6	2023f	2023
Tangible	fixed assets		3,734,844		3,734,844
Current	assets		1,505,665	371,987	1,877,652
Creditors	due within one year		(770,429)	(79,276)	(849,705)
Creditors	due in more than one	year	(1,502,992)		(1,502,992)
Total			2,967,088	292,711	3,259,799
Analysis	of net assets between	funds - prior year
			Un-
			restricted	Restricted	Total
			funds	funds	funds
			2022	2022	2022f
Tangible	fixed assets		738,852		738,852
Current	assets		3,294,714	401,482	3,696,196
Creditors	due within one year		(949,633)	(200,741)	(1,150,374)
Creditors	due in more than one	year	(612,949)		(612,949)
Total			2,470,984	200,741	2,671,725

						Group	Group	Charity	Charity
						2023	2022	2023	2022
						6	6	6	6
	Net income for		the year	(as	per
	Statement of Financial Activities)					588,074	641,430	591,255	595,214
	Adjustments for:
	Depreciation charges					25,333	23,406	2,566	4,690
	Dividends, interests	and rents		from
	investments					(14,552)	(12,662)	(14,552)	(12,662)
	Decrease/(increase)		in debtors			310,997	(170,474)	362,041	(260,814)
	Increase in creditors					589,374	421,823	586,874	447,994
	Net cash provided	by	operating	activities		1,499,226	903,523	1,528,184	774,422
22.	Analysis ofcash and		cash equivalents

					Group	Group	Charity	Charity
					2023	2022	2023	2022
					6	F		6
	Cash	in hand			1,316,844	2,824,391	1,201,798	2,677,854
	Total	cash and	cash	equivalents	1,316,844	2,824,391	1,201,798	2,677,854
23.	Analysis ofchanges			in net debt
						At 1 April		At 31
						2022	Cash flows	March 2023
								6
	Cash	at bank and in		hand		2,824,390	(1,507,547)	1,316,843
	Debt	due within	1 year			(69,808)	(15,032)	(84,840)
	Debt	due after	1 year			(291,667)	(870,000)	(1,161,667)
						2,462,915	(2,392,579)	70,336

payments	und	er non-cancellable operating leases as follo	ws:
			Charity	Charity
			2023	2022
			9	9
Not later than		1 year	314,938	345,392
Later than	1 year and not later than 5years		608,422	4,000
Later than	5years		31,710	20,000
			955,070	369,392