BLACK CULTURAL ARCHIVES AFRICAN PEOPLES HISTORICAL MONUMENT FOUNDATION (BLACK CULTURAL ARCHIVES) LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 COMPANY NUMBER 03113148 CHARITY NUMBER 1051087
AFRICAN PEOPLE'S HIsfoRICAL MONUMENf FOUNDATION (BLACK CULTURAL ARCHIVES) LIMrrED Annual Report aNI Financial Statsments for the Year Ended 31 March 2023 CONTENTS Paae Charitable Company knformation Interim Co£hairs' Introduction Introdudon from the Man4lng Director Trustees, Report 7-14 Independent Audltors. pOrt 15-17 Statement of Flnanclal Actlvllles 18 Balance Sheet 19 Cash Flow Statement 20 Nots6 to the*£counts 21-37
AFRICAN PEOPLE'S HIsfoRICAL MONUMENf FOUNDATION (BLACK CULTURAL ARCHIVES) LIMrrED Annual Report aNI Financial Statsments for the Year Ended 31 March 2023 CHARITABLE COMPANY INFORMATION Company Na. African Peoples HBtorKal Monument Foundation IBlack Cuf(ural Archivesl kn'miled. Dir8dors'. Yvonne Thompson CBE Sharmaine Lovegrove Marie-claire Amuah Olakunle Babarinde Harneck Chilemba Folasade PhilliF6 Silaja 8irks Katie Dash (Resigned 21.04.20231 Chrislienna Fryar Dawn Hill C8E IResKJned 30.06.20221 Caroline Hussey-Bain IReswJned 30.C6.20r21 Claudette Kenyatta Derren Law4ord (Resuned 17.11.2022 Rukayah Sarumi (Resigned 31.07.20221 - Chair (Resigned 29.09 20231 - VKe Chair (And appointed Interim C¢>Chair from 28.11.22) Interim Co-chair (from 28. 1120221 - Company Secretary (Resigned 28. 11.20221 - Treasurer {Resned 20 04 20T2, re-appointed 02.10.20231 - Treasurer IApFointed 01.09.2022. resvJned 02.10.23) Patrons.. Dawn Hill CBE Lord 8oaleng Idris Elba, 08E Marie Garrison Kwame Kwei-Armah, OBE Sir Willard While, OM C8E Benjamin ZephanHh Colin Jackson Reglstered Address.. 1 Windrush Square Brixton London, SW2 1EF Banker6: Lloyds TSB Balham 8ran¢ 125 Balham High Road London SW12 9AT Audltor•: Knox Cropper LLP Chartered Accountants I eInhAll .%trpet LorKlon EC3A 2AD Managgmgnt team.. Ex&rulive officer LLsa Anderson ManagirKJ Direc1 {Interim Managing Diredor up lo 31.08.20231 Senr Manajers Hannah.lohn Preeya AnaThJ Dr Hannah Ishmael Dr Ayshah Johnston Karls MorrLS-Brown oteri Otobor Depjty Manajer (Resil1ere maner up lo 22 05.231 Relationships Manager (Resigned 3108 20221 Collections and Research Manager IRe5Ened 16.08.20231 Learning and Eroagement Manager Workforce Development Manager Marketing maneT IReswJned 16.11.2(Y221 Page 2 of 37
AFRICAN PEOPLE'S HIsfoRICAL MONUMENf FOUNDATION (BLACK CULTURAL ARCHIVES) LIMrrED Annual Report aNI Financial Statsments for the Year Ended 31 March 2023 BLACK HISTORY EVERY DAY OF THE YEAR BLACX CULILWL MI¥ Page 3 of 37
AFRICAN PEOPLE'S HIsfoRICAL MONUMENf FOUNDATION (BLACK CULTURAL ARCHIVES) LIMrrED Annual Report aNI Financial Statsments for the Year Ended 31 March 2023 CO£HAIRS' INTRODUCTION We are delighted to present lo you Black Cuf(ural Arthives IBCAI X)22123 reF(Srt. We have reflected on our achievements aThJ progress aTrJ know we coukj not have teen in such a posf(ive posrf(ion wrthout our dedicated teams- our staff, our vc4unleers aThJ our cc41eagues that make up our Board ofTru8lees. AI BCA our commrtmenl Is to FKeserve, collecl and celebrate the history and cuttural heritage ol our community. We have contsnued our endeavours lo attract new material for our archives. Academics. educalionalisls, researchers, journalists. and communrty memters come lo us to explore our records that help pyogress their work, whilst SUFWting the produth'on of new knowÈdge and culture. We see how this helF6 eslablL8h the histories our founders irlS1ed should be told. Our own tearrts have brought the archives to life IhrCgh variolts partnefship projects and media collatroralions, vthich have allowed lor more peopk lo learn aut the importance of our mission. The following is just a snah01 ol our work in 2022r23'. Launch of Archive Training Course - 'Correcting our Collecb'ons, is an &week course introducing key archival skills lo 15 communrty members course run by our partners, Decolonisina the Archive Launch of'Black at Sussex,. a mutti•year pr¢)Jramme by Sussex University in partnershipwith Black Cuttural Archives, exploring the importance of documenting and archwing the experience ol their Black alumni linclujing leaders like our founder, Len Garrtsonl African and Carit&an People in 8ritain'. A History, book launch- BCA hosted a SoldUl launch in collaboration with Lambelh C¢)uncil, of author. and long-time supp)rter ol BCA, Professor Hakim Adi's seminal t0k. whose research LrtilEed BCA'S colleCtn$. Historic 81a¢k 8rrttsh Art Photosh¢)Ot- ther 90 artists ol all generations were assembled al Black Cultural Archives lo celetrfale the 4( annNersary ol the Black Arts Movement for an event entitled 'A Great Day in Brixlon, The resuttirg seminal photograph has teen acquired by the National Pcrtrail Gallery. We are not standing still, rather we musl maintain and increase our archive colleth'ons Given the growng respect for our work within Ihe heritage sector. we receive regular offers ol donations from families and organisations that are keen lo esl3blBh a sale ace for their histories and Imwrtantly ere they can enjoyed by future generations to come These (k•nalions become hugely valuable resources lor our community In the yeaf we were FAeased lo receNe lunding lo start our wr)rk lo dui181ise Anrta McKenzie's photcgraphic collectn. The impact ol the disruption ol the pandemic all¢Md LLS lo rethink pL9ns and In particular, the way in which we could best use our building In 8rix¢)n al 1 Witmyrush Square We secured Inveslrnenl lo redesign our exhi110n, retail and coutyard areas and have imemented flexible working arrangements lor our staff and volunteers that in turn have Increased oppc)rtunrts lo meet demand for hire ol our ex¢ellent spaces This L% dèstgned to derwe Income ar support our need for sustainability We have presented several exhibrtions, curated by ourspeeialist team usiro Men8 from the archives. We have also distributed our physieal Black Htstory Timelines lo partners and SUPFX)rters a¢ross the ¢ounlry. We thank them lor their eng•Jement and financ1 SUPP¢Jt. The BCA learr6 have worked hard lo recover and re-set our wcgrammes after the IkdOWn Ferigds. Our education and engagement programmes re restored as were our essential links with schools and the community We can once again welcome vi5rtors, yourrfj and ohjer, and lake pleasure in seeing their enlhusk4sm al our events. Our approach has helFed develop meaniThJful connections wlh a wider a(ience Forticularly through our actNe involvement in addressing injustice faced by our sedions of our mmunity For those that cannot come to us, we have tInUed lo yrk on our long-term tKogramme of d[Ilalisation and thus extend our online offer, our viwtA"lty globalty and potentially attract more SUFPOrt from those who share In our miSsn This includes online exhitxtions, online education resources, and use of sotial media. Page 4 of 37
AFRICAN PEOPLE'S HIsfoRICAL MONUMENf FOUNDATION (BLACK CULTURAL ARCHIVES) LIMrrED Annual Report aNI Financial Statsments for the Year Ended 31 March 2023 O-CHAIRS, INTRODUCTION (ConL We woukj not in IhB p(6ition were rt rM)t for the generous SUPFQrt of our many funders and they include. WMG Blavatnik Family Foundati( Scoal Justice FuThJ The National ArchNes Foundation Direct Une Looking ah Building on our successes, although the future boks challeroing as we WTile, we are not daunl&J. We have excrting prospects ahead aThJ wll work in partnership wrth our supporters nationally and globally. We are only loo avrdre of our unue posrtion in the UK. Our founders campauned long and hard lo sel up the UK'S only archive Collection preserving the hBlories ol people of African and Caribbean descent. Those precious malerkgks are the foundation for Jr future work and bring those often-lorgotten histories alive year by year reachirg new aJIenceS The BCA is privileged lo have an extremely hard-workirg and talented team. They impress us all and thrOh their prcgrammes ol work they often work in partnership wrth organisatsons nLw reccgnise the importance of our work. Moving on, we telieve we are truly well F4aced lo secure the financial and other resources we requife lo deliver for our founders as a consequence of this increasiro interest and support. Finally. we cannot end IhB Tep)rt wthout pratsing Ltsa ATrderson for her IITeless work in leading her team through IhL8 period ol considerable charge She has not only maintained the BCA 0ratiOn but done so %thilsl managirg changes lo the staff team and our facilities, creating new programmes with new partners and ol course, working wth new 8oard members. She has our deepest gratitude for keeping up wrth the demands and we hope for her and the rest of the 8CA teams, we can enjoy some well*arned slabilty and cekbralions in the year ahead. jf•Art41 Sharmaine Lovegrove and M3rie-Claire Arnuah Interlm Co£halr$ Page 5 of 37
AFRICAN PEOPLE'S HIsfoRICAL MONUMENf FOUNDATION (BLACK CULTURAL ARCHIVES) LIMrrED Annual Report aNI Financial Statsments for the Year Ended 31 March 2023 INTRODUCTION FROM THE MANAGING DIRECTOR This annual report celebrates the prcgress that Black Cuttufal Archives IBCAI has made in clarifyiro its slraleoic direction, buildiTrJ its organL8ational capacity aTrJ resilience, vthilsl expanding its aLMlience eroagemenl in 2022123 This has been achieved through new leadership, a committed team, and the gains that had prewously been made to secure SUPPKIrt for BCA'S vi8K>n to be the home of Black British History. BCA was able lo leverage the recovery and momentum buitt from the past year. into new heuhts that look full advaTrIe of the removal ol COVID-19 reStr1(S Most IMrtantly, f( was able lo engage •ore audiences wth a me larKJible exFerience of rts programmatic offers, welcomiro more.. researchers lo ts Reading Rc()m and donors lo sutffiil new malerkal lo its Cdlections learners of all ages lo ils educational workshoF6 visitors, long-lerm friends, aThJ new SUFVSrters, lo rts revrtaltzed pr¢)Jramme of physical exhiÈ41ions and events Ihroughoth the year volunteers and work exFerience seekers lo w0Ve crucial supwrt, lIst gaining skills slrale9ic partners lo explore the F•)SsIlty of CollaratIon and mubjal social impact hL8 impact was cemented through Mti crUal and concurrent processes.. the enhancement of BCA'S ganatIOnal capacty by addirg a layer ofstaff lo ts core wcgrammatic and operational teams. and the development of a relreshed business pLan aTrJ fundraising strategy. The first FYc¢ess has resutted in each prthJrammatic team aldiTrJ an èjdth'onal memter The learning manager and Work1Ce devebpmenl manager both welcomed assistants lo their teams, whilst the Collection Manager wekomed a new Project Archwist Operationally, 8CA was akso able lo add an adminislralor lo enhancÈ office management and a part-lime MarkelitYJ Manager was hired lo support the Social Mla Offieef In aydrtj'on. 8CA's archiving and organisalional systems were develoFd through prqects that included the Implementation of a new aecessible online catalegue. The second yocess ¥Yas achieved through a Lambeth furwjed trmjsiness FAan development prcgramme awarded lo the Interim Managing Direetor Ths not only led lo the eompletion and endorsement of a business Flan that involved the Board ol Trustees and senior staff members, rt also further enhaneed the quality 018CA's relationship wrth one ol ils most imp)rtanl and longstandin9 slralegi¢ partners, Lambeth Coun¢il. Thts actNity was meMented ty Concerted f¢XU$ on OPF¢rtunrties lo frjrther develop the organisalion's eommerual, rètail and tfand development actwrties By the end of the year. these had grown Irom largety eduealional vrtJfk$heF6 booksellirYJ. to inclLKle number of lucrative brand partnerships and imrAemenlirYJ the lontrlerm retail $lralegy lo see BCA Ihrwgh to a self4L6taining PC61-pandemi¢ era. None ol IhL8 progress woukl have teen pc6Sit4e wrthout the BCA team, vthom throughout the evolving environment, remained motivated aTrJ committed lo realBiTrJ the organYsion's mission A mission that in the wake gf Snth¢aftt soual. e¢0m1¢, and WIrtal ¢hallerKdes remairK8 as urgent as ever. Lisa Anderson Managing Directoi Page 6 of 37
AFRICAN PEOPLE'S HIsfoRICAL MONUMENf FOUNDATION (BLACK CULTURAL ARCHIVES) LIMrrED Annual Report aNI Financial Statsments for the Year Ended 31 March 2023 TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2023 The Trustees of the charilaNe comFBny, African PeotAes Historical Monument Foundation (Black Cultural Archwesl Ltd I'BCA'I, vtho are also directors for the purpM)ses of comrgny law, present their report together wlh the financial stslements for the year ended 31 March 2023. The annual report and finanaal slalements have been drawn up in accordance wlh slatulory requirements and applicat4e Accounliro Standards aThl the Slalemenl of Recommended Practi Accounting and Rewrting by Charrties" ISORP FRS 102 second edrtion effective from 1 January 2019. The annual report serves the wrpc6es ol t(Jlh a trSleeS, rewrt and a directors, retxxt under company law. THE YEAR IN REVIEW Introduction The locus ol this report. our activrties in 2022r23, has been a year of challeroe and achievement. On reflection al the start of the year, the organL8alion'. Was in a good financial srtuatson, tmjl lacked a swJne&off tr*Jsiness an. or organisatsonal strategy Had no prcgrammalic thans lor engaging audiences aThJ driviThJ income generation. Did not have a fundraisirg strategy or an accompanyirKJ implementslion an or suitable organisalK)nal resource to drive this Had a faerIng retail plan and commercial income generalion Was underperlormirrfJ in tsaThJ avtdreness Was silo working betmeen core functions ol the organisalic Had a huge OPFQrtunily lo leverage the fresh expertise aThJ commitment of the Board towards SUPFOrting the strategic development. Programmlng The main way that VL8ilors, who are not coming for BCA learniro workshoF6 or a research trip lo the archive, can experience our mission and te Irred and strenathened by their enoaoemenl with Black History is through our annual programme of exhiLyti¢)ns In 2022r23. 8CA has produced more exhibilior in one year than rt has for the last S years.. Stories o181ack Leadership SFX)nsored ty JP Morgan Home- fuThJed through Warned MLL8 Group fundina 40x40 Future Leaders Portrarts Transformino Legacies- SFonsored by DWS Slates ol Blackness- sponsored by US EmtrASSy Till- sponsored by UnNeBal an(J US Embassy ThB expansion of BCA'S wt4i¢ offer has In¢reastrJ avrareness of BCA'S mB$ion amongst key audiènces and has also helFed lo drive fooffall parts"eularfy In the summer m¢nlhs The overall impression has teen that BCA is reaetwaled wth a more varied offer for ils various slakeholde Beyond (r exhibitions an¢J ouispje ol our learnirYJ offer for Scho$. unwersrties and ¢orporates, BCA has prgvided new 'trookable' opportunrties for audien$ to engage with crilral Conversations ab)ul Black History such as atterKlirrfJ one ol our 'subJect $Fecif, roundtalk events. family learnirYJ workshops and book dubs We have also held several event5 in partrer5hip wrth OTganBations in¢lLKling, Professor Hakim Adi's latest trKJok launch aThJ the BCA Chairfs 4[40 Future Leader Awards Event. Looking forward BCA is working towards programming at least one year in advance, ¥Mlh plans to create a tsvo-year-in- ance plan ThB wll help BCA secure sw)r6or5hip aThY support for prrJJrammalic tAans. BCA needs to recrurt a producerlcuratcfj to work the delNery of wogrammiro. Thys will release Snifi cant lime frorn the ManagiThJ Director arKJ the Dewty Maner. Page 7 of 37
AFRICAN PEOPLE'S HIsfoRICAL MONUMENf FOUNDATION (BLACK CULTURAL ARCHIVES) LIMrrED Annual Report aNI Financial Statsments for the Year Ended 31 March 2023 TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2023 {ConL) Learning, Collections and Workforce Development Beyond our Prcgramme of exhibrtions, BCA'S main offers are.. the access we wovide to our unMJue c(4lectiorts on Black British Htstory. our learning offer lo stjentS and corwrales, and our workforce development programme that focuses on trans1MIng the arts and heritage sector. Each of these areas ofwork has grown in ac5 and impact over the last year. Our learniro work has increased in capacrty thanks lo the recrurtmenl of a Learniro Assistant who L8 reswnsible for managing the adminislralion of tKM)king5 and evaluatKsrts. This has freed up capacty for strategic development of an expanded learning offer. Similarly. the Co1CtIOnS Team has benefited from ftjnding lo start a catalcgtje development project focusing on Anita McKenzie's archNe. as well as having received fundiro lo improve the dj111saI10n of our #lysical collections. We have also completed the UFgfade ol online calalcguiro system. In terms ol workforce development, BCA vras ae lo run a successful Pathways conference when we launched the Race in Heritage Avrard Pilot. We re delyhted to see six participants ol BCA'S Black ¢)n Board course secured posf(ions on boards within UK cultural and arts organisalions. Lojking lWard, our learning offer must become more strategically commercial, wth a review of charges needed lo drive income especially from COfForates and indNtrduals. We can a&0 b1n to seek futlIV support from corwrale partnerships. In terms ol the learnirg conlenl. there are plans to develop eommeraal video content and expand the way these services are marketed The Managing Director Is aL%o In lentalive conversations wrth Black Curriculum lo explore collab)ralions given that the organtsalions have compMerrtary slrenglhs. The lulure ol our Co1ctIOnS work includes mre slralegicdevelopmenl of our calabgue. wrth significant input Into the 8CAs dgrtal preseN3lions strategy as part ol 3 wider organisalional pnorrty lor digital Iransformalion There wll also be a focus on devek•PiThJ 8 mre structured approach lo university research partnershir6. Workforce development is a key Fyiorrty lor many 8CA stskeholders. partieularly tertiary arnIng provKlers and Ilal authority departments Lookn"ng fotwdrd. the strategy musl explore ways lo make IhB work independently and SLLslainable beyond a reli3n¢e on a siThJle lunder. e g , Esmee Fairbairn. The ¢urrenl proje¢t has one mLYe year ol funding. However, alreaty fc IhB ¢omiw year, plans for the pathways ¢onferen¢e have teen •JaFed lo bJikl on the learning from last year. Fundiaising and Financial Re5ilienco Building lundraising and Iinancial resilien¢e has been a major focus for the Executive To this end. the Managing Diredor presented a pLqn for how the organBalion coubj buihj ¢apacity for the long term and presented thi$ lo a FurKlraisirg Commrttee wnrKtsing Yvonne ThomFWI, Olakunle Babarinde and Silaja Birks The committee oper*gJ lor the first two quarters of the year and approved the ¢ommissioning of the A- I-R consultancy lo develop a ftJThYraBirrfJ strategy and imF4emenlalion plan from Quarter 3. to ensure that BCA Uld enter the next financial year vrth a lully-flgJged an of how to raise Income from individuals. trts and fourKlations, as well as corForales, wrth clear benefits and comtElitively pnc&J packages ol supwt. BCA has secured a number of corpx)rale partnershiF6 and grants lor programmatic work and has received assurances from major ftjnders including National Herrtage Lottery Fund, Paul Hamlyn Foundation aThY Woltson that planned ap1¢allor for six fvJure sums, are likely lo be successful. In terms of the management of BCA'S finances, the reuurtment of a rEw Treasurer intrThYuced welcome improvements lo the approach to managerrent accounting, and budgetirMJ training was offered to the senior management team. Page 8 of 37
AFRICAN PEOPLE'S HIsfoRICAL MONUMENf FOUNDATION (BLACK CULTURAL ARCHIVES) LIMrrED Annual Report aNI Financial Statsments for the Year Ended 31 March 2023 TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2023 {ConL) Organisatb)nal Development Over the past year, the organisation has hdd weekly team meetings to communicate organisational performance and achievements These meetirrt> have also been Sed as a mechanism lo communicate programme plans and address any organisalional Bsues. From the teginning of last year. Senior Management have teen asked lo strtUre their work into oty'eclives and define KPIS, wth the Managirg Director mainlainiThJ weekly aThJ often bi-monthly 121s. Towards the end of the year Senior ManeMent have partiopaled in organisational strategy planniro, vthich has led lo more detailed department obj'ectsve aThJ activrty planning. The Senior Management's underslaThJiro of their respKsr6ibility ganaticfial development thrOh management and pknnirg, aThJ the monttoring of Ferfom)ance is prJreSS1ng. Lwking Iowdrd, there are three areas of urgent recruitment need lo fulfil the organisalions ambrf(ions'. a Fermanenl Fundraising Team. Marketing Manager, and a Cutiural Pf(MJucer. Conclu$ioll 11 has been a successful year lor enat11j a whjer range of stskehoklers lo engage wlh BCA'S work across ils core aclivrties The grO4h in the team through addrtional &Jminislrative support has increased the organisalion's capacity. The year has aL80 teen sy)silive for greater PR and communications etagement with followers on scLial media incfeasirg significanily, matchirg the inueased programmali offer. Alongside these efforts work was progressed on the development of our futvjraising strategy. improved financial management and tMJsiness annIng When they are combined. they are sel lo strengthen efforts to help BCA navyate a course Icrttsr¢ts stat4e but a¢hVable gro%rth for the long term. One of the areas that BCA has not teen at4e lo make sgnifThnt Iraclion on ts on articulating rts Active V0e However, in the new t)sinesS Fdan. the strategy is lo make this a CfOSS cutting concern across all areas of the organisalion's rk wlh delwery lo be led by the Marketing and Communications lead. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng Dttumenl African Peoples Hstorieal Monument FouThYation (Black Cultural Archives) Ltd is a charitable company Iimrted by guarantee, wlhout share caplal aThJ governed by rts Memorandum and Articles ol Association gwen at Companies House on 12 October 1995. as ameNJed on 30 January 2017, 11 October 2019, and 6 Fèbruary 2021. The ¢ompany was iegLStered as a ¢harty wrth the Charty CommBsion ¢n 28 November 1995. Follwng a ¢haroe to the constitution in January 2021'$ AGM, Trustees are allowed to Convene aTh effectively pass resolutions * Boafd meelirKJs remotely ThB has proved essential pre and post the Covid pandemic 11 has lacilrtated ¢onlinurty, swlt dectsion-making whi151 reducing time sFenl attending meetings at 1 Windrush Square Memters, liability Each member gf the Company undertakes to ¢onlribute lo the assets of the chartsble company if It should be wound up while they are a member. or wrthin one year after they cease to tE a member, such amount as may trk required, not exce&YiThJ £1. for payment of the Company's debts and Iiabilrties contracted before they cease lo be a memter. Trustee Indemnity Subject lo the provisions set out in the Companies Act, every Trustee appointed will te indemnified out of the a5se15 of the charitae company, agair6t any Iiabilrty incurred by them In that capacity in defendirG any proceedings with any aFpIic31ion In vthich relief is granted to them by the urt from liability for negligence, defaum, breach of duty or txeach of trust in relation lo the affairs of the charitable company Trustee Indemnity insurance of£1m12022." £1ml is in F4ace thrOh RSA Insurance Company at a cc6t of £1,03812022". £1.4931. Page 9 of 37
AFRICAN PEOPLE'S HIsfoRICAL MONUMENf FOUNDATION (BLACK CULTURAL ARCHIVES) LIMrrED Annual Report aNI Financial Statsments for the Year Ended 31 March 2023 TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2023 {ConL) Trustees Management of Black Cuttural Archives is the reswnsibility of Trustees. who are elected according lo the terms of the GovefnirrfJ DcKurnent, after puUicly open compelrtion. Each Trustee has taken restM)nsibilrty for monrtoriro the charrtable company's activrties in SkEcific operational areas and continued regard is given that the variety ol exFtrbse and s.11% on the Board of Trustees meet the requirements for Trustees to contribute lully lo the charItae company s development. The govemance structure comprises the Board of Trustees and the sutscommittees and action sutorouF6 delegated lo for various areas desvJnated by the 8oard, both regularly and from lime lo lime, as required for the charrtable company Policies adopted lor the induction and training of trustees Trustees are given an induction lo the Charrty and ils staff aThJ 0FeratK)r. Training provided for Trustees wll depend on their indwidual experience and exFtrtise AJI new Iruslees are recruited on their ability lo play an active part in the governance ol the Trust They are inleThiewed by experienced Iruslees, given an opportunity lo lour of the premtses and meet wth the Manajiw Director prior lo their first Board meeting and meet wrth the staff. In addition. new Iruslees are pf0ved with cotxes of wliaes, wocedures, Board and sU¢0mmrttee minutes. financial statements, bLNJgets, Flans, stslulory dccuments, and other documents. deFendenl on their role wthin the Board. In the year under revw, Trltstees attended a Slratsw Day ere they recewed presentations from BCA staff who lead key departments.. LearnirKJ arK1 Collections. OrganI110nal Struclure Trustees provNJed governance arNJ oversvJhl of all the charttable company's OFeralions during the year. During the peficrfj under review the B¢)ard of Trlee5 he General Meetings and fv40 Extraordinary General Meetings The sland1ng commrttees of the charitable eompany are the ADJil and Risk Committee and the Fundraising Committee There are various action sutgrouF6 that the Board delegates lo groups of Trustees vh)0 commrt their expett"se, fu eXaMe a panel to review8 particular aspect ofinternal ¢trol, or lo recrurt new Trustees. Our approach to ethlcs Trustees agreed a sel ol prin¢iples infomiro the ¢harrt3bk ¢ompany's asyoach lo reeeiving fundir and buildi relalionshiF6, In order that they should not jLLs1 Iransadional also strategic and core lo aehieving 8CA's mLssion BCA will not te passwely rÈ¢eFlive of hjnds. It wll ènquirè and push organisalions to Imw¢ve their operations where they do not supp)rt or progress the advancemènt of Black people, lor examrAe, by ¢ommittiTrJ lo and èxecub.ng anli-ractsm training for their staff and invests.ng in training and trJu¢ion. The lollwrKJ prin¢iFles wll gJe BCA'S interactions". Transparency.. BCA will t trartsrent in all its dealirgs wrth ts stakeholders including corForations, major donors, and plrtical stakeh0ers BCA will be open lo challenges and queries regarding ils dealings wth these stakeholders and resw)nd. Authenticity.. BCA will relain comFAete independence of rts actNe voice aThJ engage in accordance wth ts values and mBsion BCA will retain the rh1 lo remove tseW from forums ar negotialior that disresped. or do not align vthh, BCA'S values and mission. Advocacy.. RelalionshiF6 Wth our partners. stakeholders and suppliers wll reflect our strategy in fulfilling our ¢harrtaUe ot4.ecls as well as the use of ¢)ur voice lo slrerolhen and build our communrties, actively refledirrfJ challenges and seeking to break down barriers lo yoJression. Conversational engagement. BCA wll erKJage in genuine conversab'ons wlh rts stakeholders, in an honest, respecfful, orEn and constrtIVe manner, aTrJ twikl bridges or transform relationships where appropriate Al limes, these conversatior6 may be sensib"ve, painful and tense - and not necessarily result in sponsorship or partnership- txrt, as the only organisalion of ils kind, BCA will continue to advcKale for thc6e that rt represents, including where intersectional ageThYas exist. Page 10 of 37
AFRICAN PEOPLE'S HIsfoRICAL MONUMENf FOUNDATION (BLACK CULTURAL ARCHIVES) LIMrrED Annual Report aNI Financial Statsments for the Year Ended 31 March 2023 TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2023 {ConL) Arrangements for setting pay and remuneratron of key man4ement personnel The key management personnel of the charitable company comprise the Trustees and the Managing Director No Trustees received any remuneration in resm of their duties as a Trustee from the charitable company in the year under review. Trustees have aqreed that the pay and remuneration of the key Fersonnel is approved annually by the Board. Constsyeralion will te gNen lo apwopriale benchmarking metrics as well as the performance of trth the indNidual aThJ the comFony. OBJECTIVES AND ACTIVITIES Objects, alms and oty'ectlves The Gharilable company's ots'ect B 'lo promote eduCatn in the United Kirodom., according lo the conslilulion, principally by the OFeration of "a Black Curtural Archives Museum. as a vehicle lof slimulalirKJ awareness and understandirvJ ol the conlritMJlion ol e0e ol African oruin lo British history al conlemwrary society. And lo collect and preserve lileralure. artelacts, records. documentary accounts and all other forms of artistic exsyession relating lo the roots and history of Black peoples in the United KirvJdom, Africa, the Caribbean, the Unrted States of Amer, and EuroFe. Public beneflt Trustees confirm that they have complied %Mth the duly in SeclK¢n 4 of the Charities Act 2011 and that they have considered the Charity CommLssion's guklance on public benefrt in shaping the Charity's ot4'eclives and planning ILrture acij'vrties. Covid 19 Wrth the Covi119 pandemic tskj'ng hohj lowafds Iheend oflhe ryeceding financial year, the organh8ati¢)n had lo plan lor a sale closure, cOnSered measures needed lo safeguard the collections, the building, ar staff team al01 wlh the seri¢JJS future ImpltionS on its finances The Trustees were lully appraised ol measures undef eonSK1eraln to meet Govemmenl requirements to reduce transmission of the virus. Given that eontexl, the Lurrenl Business PLan was erealed as a resp)r6e lo the slow re¢overy of BCA'$ income generall activrty due lo the effed of Covid-19 Thankfully, SUPFtJrt from the Culture Recovery Fund and our Nab"onal Lottery Heritsge Fund. Securi the Future proieet, have b)Ih eonlributed lo the trealion of Ihts plan by gNing 8CA access lo invaluable exFert Jvice, da analy$i$ aThJ berhmarkiry. Our SUPFX>rtèrs The Cultural Recovery Fund was essential lo the wotection of BCA'S reseNes in this Feriod, support1 essential ¢osts such as salaries and utilities as WEII as supportiTrJ re-OFening 1 Windrush Square costs. We are grateful to the lollowing. aThJ others menti¢xed IhroL4hout Iht5 report, lor their additional suppjrt in this Feriod lo yotect the charrty Irom financial difficuty lIe a150 SUPPOrting our charitae mLssvn and actwites.. Apple Arts Council England Bales Wells BlackRock Bloomberg Philanthropies Centre for Synchronous LeaYer5hip City BrKJge Trust CO-RE Deepmind Ifor the folb)w"ng financial yearl Direct Une Grwp Edelman Fulurecrty Google (Tides Fcwr¥JatKn' Helen Hayes, MP Historic England Hogan LovelL8 Idri5 Elba Joint Council f( the Welfare of Immigrants (Jcwii L(Won Bryowh of Lambelh Page 11 of 37
AFRICAN PEOPLE'S HIsfoRICAL MONUMENf FOUNDATION (BLACK CULTURAL ARCHIVES) LIMrrED Annual Report aNI Financial Statsments for the Year Ended 31 March 2023 TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2023 {ConL) Our supwrters {conL) Netflix Niche on Demand Dr Patrick Vernon Paul Hamlyn FouThJation Power lo CharrfJe fund Reed Smith Savannah Group Wamer Music Group Blavalnik Family Foundation s(la1 Justice FuThJ (for the followng finanaal yearl Wellcome Trust (for the following finarKial yearl And all of our SUPFQrters aThJ dOnS vtho are loo many to name tJl lo 0M we owe a great debt of gratitude. Our volunteers and staff have been vital lo delNeriro Ouf charitable mission aThJ activ.eS this year. We thank them all for their generosity wlh their lime aThJ financial support. FINANCIAL REVIEW Flnanclal report for the year BCA is an independent charrty rdying on grant inccme and donations for the majority ol its income. The charity's funds decreased in the year by £114,106 12022.. increased by £107,921) thich has resulted in lolal funds carried l¢)fward 01 £439,861, including unrestricted funds of £225,783. The year in review was the final year of a fjr-year Unrestrted revenue grant reement w((h Lon(•n Borough ol Lambeth, vthich has been running from Apfil 2019 and ended in March 2023. Pollcy on reserves The Trustees have set a Reserves Policy which lakes account of the current analysB of risk. day-lo-day operational expendi(ure. the volalilily of voluntary income and the maintenance ol ad4uate levels of workiro eaprtal. The Trustees cortswjer that a minimum of efve eks. Unreslrict&J Expenditure is an appropriate level ol Free Reserves ttjver for 8CA to hobj. Al the point of approving the accounts the year ended 31 March 2023, twdve weeks. Unreslricled ExFendilure amounted to £149.992. The Free Reserves Igeneral unreslr1Cted funds less laroible fix&J asselsl as al 31 March 2023 were £1.841(2022 £227,721). rewesentlj 1270A12022". 184D/ol cover. The Trustees aim lo rebjikl the unrestred reserves in the next twelve months through a eombinalion of more slringenl cost Control and a reorienlalion ol our lundratsing strategy In lavour of unrestricted income Remuneration No staff member was paha mwe than £60.CQO, aThJ no Tw$tee received remuneration duriro the year. Risk Mana3ement The Trustees acknowltrjge the nsks inherent in managing the tharity aThJ rts bLBiness mojel. They are ¢ommitted1g managirg risks, wth a fttus on thosethat p)st a svJnifi¢anl threat lo BCA'$ sIneSS ainB, repJtalion and financial slrewh. Pivotal to the Trustees. r¢sk managemenl Iramew)rk is the Audit and RBk Committee IARCI, ¢hair&J by the Treasurer, which monrtors the rBks via the Risk Register The Chair ol the ARC works with the Managing Diredor lo rnaintsin and UFxlale the R¢sk Register, and to wesent the Register lo meetings of the ARC lor consideration of the key risks aThY review of the effectiveness of measures in place lo conlrd or eliminate the rysks. The Rk Regysler rs a staTrJing rtem on all SChUld Board of Trustees general meetings. Page 12 of 37
AFRICAN PEOPLE'S HIsfoRICAL MONUMENf FOUNDATION (BLACK CULTURAL ARCHIVES) LIMrrED Annual Report aNI Financial Statsments for the Year Ended 31 March 2023 TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2023 {ConL) There are currently 12 key rBks on the Risk R&Jister. The current top risks currenlly include. but nc limited to Challenges to achieve revenue incCe targets Maintenance of Cash Flow Board and Staff turnover retxuilment challerrfJes External economic and polilKal oulb)ok There is much work4n-prcgress to strengthen BCA'S resilience Apart from confirmirvJ the Interim Managing Director into the FK)sl of permanent Managiro Director, we have recently teen successful in recrurtina new Board members, currently undergoina induction into BCA and a highly experienced furaISer has also joined the Ofganisalion. Recruf(menl of a new Chair wll be a huh wiorily of the Board in the new year. A lull revamp ol the rLsk management framework wll te conducted as part of a Board Strategy Day being F4anned once the new lull Boafd is operational. Fundraislng practices and performance We commit lo our fundraising teing legal, open, honest and resFecthJl. meets'ng the standard5 set in the Fundraising Code ol Practice The charity is aware of the Charrties (Protection and Social Investment) Act 2016 and the Trustees support the aims ol this legtstalion The majorrty of the charity's voluntary income comes from other charf(able bcxjies The charrty uThYertakes very little direct fundraising aclwrty Invo1n9 individual donors. The charty conshyers the orgin ol unsolicited donations and legacies. The charity does not share or purchase any dor data with or frcm third part. In the year under review, the charf(y did not receive any lunds due lo Ihework of FwolessKJnal fuThJraisers Furthermore, the charity not recewe any complaints in relation to lundiatsir¥J or false any matter th regulators during the year. Plans for luture perlods The key l¢XUS for 8CA isto eonlinue lo drNe rts mission vthilsl ensuring the resilience of the organisalion, Wellbei ol staff In the challenoina environment of pc61-COVKI recovery and also the debate and reassessment ol cunural and corEL)rale Influences in the aftemath of recent events including the Black Lwes Matter protests and the WindrLLsh Scandal. The charrtable company continues to develop and invest in lis people and premises lo lulfil our dLrty of care and ensure excellence in delivery of services for both the local community and the national public. Chèrrties like ours across the Unrted Kingdom are facing incfeasing cc6ts not matched by increases in rant lundino from oovernmenl aqencies The charrtable company is Iherelore continuinj lo ensure ils future financial viability and thereby delNer our 2030 Vi$i¢)n. Page 13 of 37
AFRICAN PEOPLE'S HIsfoRICAL MONUMENf FOUNDATION (BLACK CULTURAL ARCHIVES) LIMrrED Annual Report aNI Financial Statsments for the Year Ended 31 March 2023 TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2023 {ConL) STATEMENT OF DIRECTORS RESPONSIBILITIES Company law requires the directors to prepare finanaal statements for each financial year that give true and fair view of the slate of affairs ol the charrty aThl the incoming resources aThJ application of resources, including the nel exFtndilure of the charty for the year. In prepariTrJ those financial slatemenls, the Iruslees are required lo.. Select surtable acc¢)unling wlioes and then apply them cortsislenlty.. Make judgements aThJ eslimales that are reasonable and wudenl". Prepare the financial statements on a going concern basL8 unless il is inappropriate lo presume that the Charity will conb'nue lo 0rate, aThJ Slate thelher aFplicable AuntIr0 Standards have teen followed subject lo any material departures diselc6ed and explained in ffinancLal statements. The directors are reSPS14e for keeF4frfJ WOFer accounlirg fecord5 Nthich disclc6e wlh reasonable accuracy al any lime the financial position ol the Charf(y aThY which enat4e them lo ensure that the financial statements comply wlh the Companies Ad 20C6 aThJ the provisions ol the memorandum and articles of association They are also resF()rtsible for safeguarding the assets of the Charrty and hence lor laking reasonable $lepE lor pKevenlion and del8clDn of fTaud and dhei Iriegularits"e statement of dlsclosure to the auditors The directors confirm that they have taken apFrfopriale sletts lo make themselves aware ol any relevant a11 information and lo eslatAish that the audrtors are aware ol such Information. As far as the directors are aware, there Is no reLevanl lnforma.ion which has nol been disclosed lo the audrtors. ed by Ihe Di rs and signed on their behalf by.. Dated. S December 2023 Sharmaine Lovegrove Interlm Co.Chalr Page 14 of 37
AFRICAN PEOPLE'S HIsfoRICAL MONUMENf FOUNDATION (BLACK CULTURAL ARCHIVES) LIMrrED Independent Auditorfs Report to the Trustees of African People's Historical Monument Foundation (Black Cultural Archives) Limi1 For the Year Ended 31 March 2023 Opinion We have audited the financial statements of Afrun PeoFAe's Historical Monument Foundation (Black Cultural Archives) Limrted Ilhe'charrtatAe company'l for the year ended 31 March 2023 which comprise the Slalemenl of Financial Activrties. the Balance Sheet, Statement of Cash Flows and notes lo the financial slalemenls, including a summary of significant accounting PK)licies. The financial reporting framework that has en aFplied in their preparation i8 appIate law aTrJ Unrted Kingdom Accounting Standards, incI1ng Financial Rewrting Standard 102 The Financial Rewrtiro Standard applicable in the UK and ReputAic of Ireland (Unrted KiWom Generally Accepted Accounlina Praclicel. In our OnIOn the financk81 stslements.. give a true and lair view ol the slate ol the Charrtab company's affairs as at 31 March 2023 and ol ils income and exFendrture for the year then ended.. have ten properly tKeFkgred in accordance Unf(ed Kingjom Generally Accepted Accounting Practice. aThJ have been prepared in accordance wrth the r8]uiremenls of the Companies Act 20C6. Basls of oplnlon We conducted our audrt in accordance with International Standard5 on ArtIrJ IUKI IISAS IUKII and applieable law Our resFX)nsibililies under Ihc6e standards afe further descrited in the Auditor's reswnsibilrties lor the audit ol the financial statements secb'on of our rep)rt We are independent of the charitable company in accordance wrth the ethieal requirements that are relevant lo our audit of the financial statements in the UK. Ineluding the FRC'S Ethical Slar¥Jard, and we have fijllilled our other ethical respOnsi.1rtieS in accordance with these requirements We lIeVe that the aLMJIl evidence we have otrtained Is sufficient and aFpropriate to provide a basis lor our opinion. Concluslons r•latlng to golng conc•m In auditing the financial slalements. we have concluded that the Trustees, use of the goiryd concern basis of aecountino in the preparation ol the financkal slalements is arpropnate. Based on the wrrk ve have performed, we have not thnlifEd any n)atefial uncertainties relating lo events or condrtions that. indwidually Of eollectively. may signifieant doubt on the charrtable company s abilrty to continue as a going concern for a Ferioj ol al leasl twefve months from when the financial statements are aulhonsed for Issue. Our resFXJnsibilities and the reswnsits"lrt of the Intslees respe¢t lo goiryd concern are de$¢rib& n the relevant $e¢tions of this rewt. other infomiation The other Inf¢rmation ¢omprtses the information in¢lLKled in the annual report, other than the finan¢ial Statem1$ and our audrtrys. report Ihereon. The trustees are respor6itle lor the other information. Our opinion on the financial statements does ncl coverthe other information and we do not express any form of assurance conclusion Ihereon. Our responsibility to read the other infom*ion and, in doing so, consKler whether the other information Is materially Inconslstentwrth the financial stslerrents or our kn(edge oblained in the audit or olherwse appears lo be materially misslat&Y. If we identify such material Inconsistencies or apparent material mLsslatemenls, we are required lo determine vknether there B a material misstalemenl in the financial statements Iherr6elves If, based on the work we have performed, we conclude that there is a material misstatement of thL8 other information. we are required lo rewrt that fact. We have nolhiro lo report In this regard. Page 15 of 37
AFRICAN PEOPLE'S HIsfoRICAL MONUMENf FOUNDATION (BLACK CULTURAL ARCHIVES) LIMrrED Independent Auditorfs Report to the Trustees of African People's Historical Monument Foundation (Black Cultural Archives) Limi1 For the Year Ended 31 March 2023 Opinion on other matters prescrib1 by the Companies Act 26 In our opinion, based on the work undertaken in the course ol the audf('. the inlumalion gNen in the trlees, reFQrt, whh includes the directors, reFQrt prepared for the purposes ol company law, for the financial year for which the financial slalements are prepared is consislenl wrth the financial slalemenfs, and the directors, repK)rt induded wrthin Ihetruslees, reFM)rt has been prepared in accordancewrth aFplicable legal requirements. Matters on which we are required to report by exception In the light of the knoedge and understaThJing ol the charitable company and its environment obtained in the course of the audit, we have identified material mtsslatements in the directors, report incIed thin the Iruslees, rewrt. We have nothing lo rewrt in resFect of the folk)wir¥J matters ere Ihe Companies Ac 20C6 requires us lo report lo you il, in our oFxnic'. adequate acnting record5 have not been kept, Of fetufns adequate for our audrt have not been received from branches not visited by us. or the financial stslements are not in agreement wth the accounting records and returns,. or certain disclosures of Iruslees, remuneration specified by law are not made. or we have not recaved all the information aThJ explanations we require lor our a11. or the Iruslees were not enlrtled lo epare the financial slalemenls in accordance wlh the small companies regime and lake advantage ol the small companies, exemptions in preparing the Iruslees. feport and from the requiremenl to Fyepare a strategic rewrt. Responslbllllles of Tiusto93 As explained more fully In the Tiuslees, Resportsibilrties Stslemenl. the Trustees Iwho are also the directors of the charitae Company for the wrposes of company lawl are reSponsie forthe preparation of the financial slalemenls and for beiro salisfi&J that they a true and lair view, ar for such internal control as the Iruslees determine ts necessary lo en3e the preparation ol finan¢ial slalemenls that are free from material mL%slalemenl, Nthelher due lo fraLJ or erfor. In prepariro the fin8nei81 statements. the Trustees are respjnsible for asseww the charitable company s ability to continue as a g(xng eoneern, dtsclosing, as applicable, matters reLalèd lo going Coneern and usirKJ the going eoneern basis of accounting unless the Trustees eilhei Intend to liqui¢Jale the company or to cease operations, or have no realtslie allernalive bul lo do so. Auditor's resp)n$ibilitiés for the audit of the finan¢i $temwts Our Qbjedives are t¢ obtain reasonable assurance about whether the financial statements as a whole are tree from material misslalemenl, vthelher due lo fraud or error. and to Bsue an audrtor's report that includes gur opinion Reasonable assurance Ys a hwJh level of assuran¢e, but is not a guarantee that an audit conducted in accordance wlh ISA5 IUKI will ?yS detect a material misslalemenl when il exysts. Misstalemenls Can arise from fraLka (x error and are corEidered material If, indivhdually or in the aggregate, they coukl reasonably te expected lo influence the economic decisiws of users taken on the basis of these financial statements. Irregularities, incIlIj Iraud, are instances of nwmpliance wth law5 and regulaliorB. We design procedures In line wrth our responsibilrties, outlin¥J above, lo delect material mBslatements In resFect of irregularities, including Iraud The extent lo which our wocedures are capable of detecting irregularrties, induding fraud is detailed below. The charf(able company is required to comply wlh th company law ar¥J charity law aTrJ based on our knowledge of ts a¢tivrtJ"es, we kyentffied that the legal requirement to actxjrately account lor restricted funds of key sHJnific3nce. Page 16 of 37
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AFRICAN PEOPLES HIsfoRICAL MONUMENT FOUNDATION (BLACK CULTURAL ARCHIVES) LIMrrED 5tatemert ot Financial Activities (Incorporating the Income and Expenditu Account) For the Year Ended 31 March 2023 Unrestricta Funds Restric Funds 2023 Totsl 2022 Total Notes Irme and endowments from: Donations 281.673 465.034 746,707 976,240 Charrtable aclivities 46.422 46.422 18,772 Other trading activities Investment Income 100.282 100,282 54,584 1,388 1,388 TOTAL INCOME 429,765 465.034 894,799 1,049,640 Expendlture on: Raising FuTrJs FundraBirg Cc6ts Tradiw Costs Charitable Actwrties 43,667 43.667 55,570 63,455 80,8CQ 80,8C 384,838 499,6C#J e84,438 822,694 TOTAL EXPENDITURE 499,6C 1.008,905 941,719 NET INCOMEIIEXPENDfTUREI 179.5401 134.5661 1114,1C61 107,921 Gross transfers 15116117 46.076 146.0761 NET MOVEMENT IN FUNDS 133,4641 180,6421 1114,1C61 7or92r BALANCE BROUGHT FORWARD 1 st APRIL 2022 259,247 294,720 SS3, 446,046 BALANCE CARRIED FORWARD 31st MARCH 2023 15116117 -£225,78> -£214,07& 4439,86F £553,967 All ants te to continuiwj activities. Page 18 of 37
AFRICAN PEOPLES HIsfoRICAL MONUMENT FOUNDATION (BLACK CULTURAL ARCHIVES) LIMrrED Balan Sheet As At 31 Marth 2023 2023 2022 Notes FIXED ASSETS Herlta3e Assets 25,028 25,028 other Fixed Assets 12 122,¢))8 80,618 147,036 105.646 CURRENT ASSETS Stock 14,746 9.816 Debtors 13 53.670 31,857 Bank and Cash 448,495 611,205 516,911 652,879 LIABILITIES Credrtors.. Amounts falling due wlhin one year 14 1224,0861 1204,5581 NET CURRENT ASSETS 292,K25 448,321 NET ASSETS £439,861 £553,967 FUNDS Unrestricted 16 215.869 252,749 Designated Restrictec 17 9,914 214.078 6,498 15 294,720 TOTAL FUNDS £439,861 £553,967 These a¢counl$ have teen prepared in accordar wrth the provB16 relatsro to companies subject lo the Small Ctynpanies Regime wthin Part 15 of the Companies Ad 20C6. The finanaal slalements were apyovtrj by the Dire¢tots on S De¢ember 2023 Sharmaine Lovegrove Interim Co£hair ComFfjny regL8lered number 3113148 Charrty regBtered nurnr 1051087 Page 19 of 37
AFRICAN PEOPLES HIsfoRICAL MONUMENT FOUNDATION (BLACK CULTURAL ARCHIVES) LIMrrED Statement of Cash Flows For the Year ErKled 31 March 2023 2023 2022 OPERATING AcTIVlEs Nel income/(expendrture) for the rewrting period 1114,1C61 107.921 DeprecialK)n charge 9,605 5,265 Investment income 11,3881 1441 {InCre)Idcr88s8 in debtS 121,8131 17,8241 Increase/{d8crease) in credrfLYS 19,527 130,5871 (Increase)/decrease in slLxk 14,9301 13651 Net cash provld&l byl (used In) operatlng actlvltles 1113,1031 74,386 INVESTING ACTIVITIES Purchase of tarydible frxed assets Investment income 150,9951 1,388 118,8831 44 Net cash provlded byl (used Inl Investlng actlvltles 149 6061 118,8391 Change In cash and cash aqulvalents In the reportlNJ perIcl Cash and cash equivalents at thè bèglnnlng of the rèporting period Cash and ¥h oquivalents ot thè of th& r&porting pericKI 1162,7101 55,527 611.205 555,678 £448,495 £611,205 Page 20 of 37
AFRICAN PEOPLES HIsfoRICAL MONUMENT FOUNDATION (BLACK CULTURAL ARCHIVES) LIMrrED Notes to the Financial Statements For the Year Ended 31st March 2023 ACCOUNTING POLICIES (al Basis of Accounting The financial slalemenls are preFfjred under the historical 6t convention with the exception of donated heritage assets 1¢h are included al market value The financial statements have teen prepared In accordance wrth the Slalemenl ol Recommended Practice applicable lo charrties prepariro their accounts in acwrdance wrth FRS 102, the Financial Reporliro Standard aptAicable in the UK and RepU1C of Ireland (charit SORP IFRS 102 second edition effective frc¥n January 201911, applicable UK accounlirg slaTrJards and the Companies Act 2(K6. The charrty is a publ enlty as defined ty FRS102. The principal aCuntIng policies adopted in the weparation of the financial stslements are set out below Ibl Going Concern As sel out in Note 2. the Trustees have assessed ether the use of the going concern assumption Ls appropriate in preparing these financial statements The Iruslees have made this assessment in respect lo a of one year Irom Ihe dale of approval of these financial statements. The Irlslees of the charty have concluded that there are no material uncertainties related lo events or coThJilions that may cast svJnifThnt doutl on the ability ol the charty lo continue as a going concern. lal Tanglble Flxed Assets and Depreclatlon All fixed asset additions whose eosls exceed £5CQ are caprtaltsed al historic cost. Provision is made for deweciation on tangible ft<ed assets, at rates ealeulaled lo write off the cost C•r valuation less eslimaled reswjual value ol each asset over rts expected useful life, as lollws.. Office EquiFxnent lover three years Fixtures and FrttirKJs lover three years) Caleriry Equipment lover three years) A8sets uTrJer ¢onslrudion are not tjepreciat until the asset ts broLbJhl into use. Ibl Funds Unrestricted lunds are donati¢)n$ aThJ other incoming fesource$ re¢eNtrJ or generated and can used at the diseretion ol the directots for charilatle purptsses. Desgnated fund$ are unreslriclèj lunds that have been set ashle by Trustees lo bè used for a parti¢ular purpose Restricted lunds com¥ise funds received for spècific programmes and activrtie$, as laid down by the donor Expenditure meets these crrteria is charg lo the fuTrJ. Icl Charitable ExFonditure Charitable expendrture comprises dire¢t expendrture attnlyJtatle lo the ¢harrtable objedive$ or activities Where costs cannot be attributed, they have teen apportioned to charitable objedives or aclivilies, acwrding lo the time 01 le5our$ appl*d lo each (Note 71. Idl Costs of Generating Fund$ The costs of generating funds cowst of costs incurred on events and actNrtie5 and an apportDnment of overhead and supwt costs (Note 71. lel Governance Co¥ts Govemance costs comyise all costs involviro the Fxjblic accounlabilty of the charrty and its compliance wth regulation and gocKJ yadice These costs include crtsls related to slatulory audit together wrth an app)rts.Ment of overhead and supw)rt costs INote 71. Page 21 of 37
AFRICAN PEOPLES HIsfoRICAL MONUMENT FOUNDATION (BLACK CULTURAL ARCHIVES) LIMrrED Notes to the Financial Statements For the Year Ended 31st March 2023 ACCOUNTING POUCIES Icorninueai If) Income Revenue grants are credited lo incomiryJ resources on the earlier of when they are received OT en they tecome receivable, unless they relate lo a specffied future FtricyJ, in which case they are deferred. Capital grants for the wrchase of fixed assets afe credrted lo restricted irOrning resources on the earlier of vthen they are rewved or become receiVae. Depreciation on the related fixed assets is charged against the restricted fund. All other incomiro resources are inclLQed in the Slalemenl ol Financial Activities ISOFAI en the charity ts legally enlilled lo the income and the amount can quantified wlh reasonable accuracy. Igl Herltaje Assets Herrtage assets are staled al cosl of a¢¥utsrtKffi or. vthere a reasonable valuation is available. at value, when they are donated. Ihl Benefits In Klnd Donated staff and seryices are broLyhl into account al the value to the charty which 4uales lo the eosl lo the provider GOING CONCERN The Trustees of the charty have assessed whether the use of the going concern assumption is appropriate in preparing these finanaal slalements The Trustees have made this assessment in reSet lo a pericxj of one year from the dale of apFyoval of these financial slalemenls. While our Iradiro OFerations are growro robuslty F<61 ndemiC. the Tfuslees recegnise th81, as a charity. 8CA relies on pU1C funding and donations from many of rts supp)rters. both individual and corporate. The reeenl suecessful reeruilmenl of a hhlY experienced fUrralSer now workino on a new Fundraising Strategy lo Inform future fundraising efforts wll L key lo rebuilding our income base Even prior lo the arrival ol the new fU1r21Ser, a head of steam had already built up Nthieh has seeured a number ol eorpjrate partnerships and grants for pr¢)Jrammatie work Further assurances of sUprt have been re¢ewed fr¢)m maior funders Some olwhich v are ¢onfidenl 11 moneti$e in the next lew rnonths. BCA'S kjng-lerm viakn.lty is premL%ed on ts 2030 VL8ion whh sets out the eharity's strategies for delivering on rts l¢ng-term 8usiness Plan Thts. together wrth the ¢ontinuing support of Its core funders, demonstrates that the eharrty will eontinue a$ a going eoneern The Iruslees are. theretore, c¢nlKlenl that the charty IMII he suffiuent resour to meet Ils Iiabilrties as they tall due. Page 22 of 37
AFRICAN PEOPLES HIsfoRICAL MONUMENT FOUNDATION (BLACK CULTURAL ARCHIVES) LIMrrED Notes to the Financial Statements For the Year Ended 31st March 2023 VOLUNTARY INCOME Total 20Z3 Totsl 2022 Unrestrthd Restricted London Borough of Lambeth Revenue Grant 48,0 84,DQM) Capital Grant 85,DQM) other 34.OCQ 34.000 16,0(N) Deepmlnd Warnei MUSK Group & Blavatnlk Famlly Foundatlon Social Justice Fund 100,000 158,042 203.574 1,616 160,197 Esmee Falrbairn Foundation 8.398 108,173 116.571 85,046 DCMS Culture Recovery Fund Benevlty Natlonal Lottery Herltsge Fund Wellcome 979 979 39,409 60,3(KJ 49,058 28.174 28,174 29,204 Hlstorlc England Bloomberg Poetic Unlty Power To Change C¢)mmunlty Fund 32,180 25,473 30,OCM) 16.623 16,623 9,079 Tkles (Goog} Windrush Funds 20,OOJ 21,267 National Archives 17,222 17,222 2.000 Univorsity of London US Emba5$y Sponsorship General Donations 20,004 28.211 20,004 18,475 46,686 52,258 41,SOJ 48.758 3,5C4) 69,094 Job Rètentlon Scheme 12,919 Other 2,574 2,574 6,414 £281,673 £465,034 £746,707 £976,240 Page 23 of 37
AFRICAN PEOPLES HIsfoRICAL MONUMENT FOUNDATION (BLACK CULTURAL ARCHIVES) LIMrrED Notes to the Financial Statements For the Year Ended 31st March 2023 VOLUNTARY INCOME Icorninueai Total 2022 Unr8strict8d Rostricted London Borough of Lambeth Revenue Grant 84,DOO Capital Grant other 85,OOC 85,DOO 16.(MJ) 16,000 Deepmlnd Warner Muslc Group & Blavatnlk Famlly Foundation Social Justice Fund 1CQ,( 100,000 160,197 160,197 Esmee Falrbairn Foundation 85,046 85,046 DCMS Culture Recovery Fund Benevlty Natlonal Lottery Herltsge Fund Wellcome 39,409 39,409 60,300 49,058 49,058 29,204 Hlstorlc England Bloomberg Poetic Unlty Power To Changè Communlty Fund Tkle5 (Goog) Windrush Funds 32,180 25.473 32,180 25,473 30,000 9,079 20,0 30,OOC 9,079 20,0 21,267 21,267 Sponsorshlp General Donatlons 41.6C 41,600 69,094 69.094 Job Retention Scheme 12,919 12,919 Other 6,414 6,414 £390,327 £S8S,913 £976,240 Page 24 of 37
AFRICAN PEOPLES HIsfoRICAL MONUMENT FOUNDATION (BLACK CULTURAL ARCHIVES) LIMrrED Notes to the Financial Statements For the Year Ended 31st March 2023 CHARITABLE AcTIVlEs TDtsI 2023 Total 2022 WorkshoF6 and Courses 36.780 16,937 Exhibitions and Collections 8,829 1,489 Other 813 346 £46,422 £18,772 OTHER TRADING ACTIVITIES Total 20ZJ Total 2022 Cafè Income 1,172 Shop Income Rwm Hire 39,000 33,229 61,282 20,183 £1CQ,282 £54,584 ANALYSIS OF CHARITABLE ACTIVITIES Undertaken Dlfect Support Costs 2023 2022 Windrush Square Other Charrtab activrties 319. 884,43e £W,44e £319,9 £884,438 £822,694 Undertaken DirLrt Support Costs 2022 2021 WirKlru5h Square other charrtable *ivrties 203,728 3¢XI,919 £504,647 £318,047 £822,694 £610,365 Page 25 of 37
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AFRICAN PEOPLES HIsfoRICAL MONUMENT FOUNDATION (BLACK CULTURAL ARCHIVES) LIMrrED Notes to the Financial Statements For the Year Ended 31st March 2023 STAFF COSTS 2023 2022 Salaries and wages ScKial SeJritY costs 449,863 391,119 41,125 22.158 Employer penSIc contributions 9,133 8,099 Total staff ¢osts £.121 £421,376 The average numter of staff em 0Yed duriro the year was 2012ff22.' 171. Key Management Personnel IKMPI corsisted of six emFloyees'. Man4ing Director, Deputy Manager, Workforce Development Man4er, ChiveS Manager, Learning Manager, and, Marketing Manager. Total emoluments paid lo key management Fersonnel dunrYJ the year amounted to £233,884 12022.. £208.481. encompassing seven KMPI. No employee earned more than £60.OC() during the peri(MJ12¢Y22". N(e1. No Director received any remuneration duritYJ the year12072 £ Nill. No directors were reimbJrsed Iravel and $ut6islence eXnSeS during the year12022.' £nill. TAXATION The African Peoples Historieal Monument Foundalion1818ck Cuf(ural Archives) Ltd is a registered charrty and Is potentially exempl from laxalion in resFect of Income and eaKMlal gains wlhin the categories eovered by Part 11 of the Corpjralion Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Aet 1992 to the extent th* su¢h Inexjme 01 gains are applied ex¢lusively lo Cttarrtab purpc6es 10. INCOMING RESOURCES Net incoming resr¢e$ for the FefiCwJ are slated after chafgiro.. Total 2023 Total 2022 Audrtors. remuneratKJn lexdudiNJ VAT Audrt 5,800 5,630 Depreciation 9.605 5,265 Page 28 of 37
AFRICAN PEOPLES HIsfoRICAL MONUMENT FOUNDATION (BLACK CULTURAL ARCHIVES) LIMrrED Notes to the Financial Statements For the Year Ended 31st March 2023 HERITAGE ASSETS Balance al 1st April 2022 £25,028 Balance at 31st March 2023 £25,028 Herrtage assets represent wivate papers trom iThJNiduals aThJ collediorB from organisalions which lead lo a greater underslaThJing of the contribution m&Je lo Britain by Black people of African descent. They are he al the charrty s premises in Brixlon SnIfIcant work has been undertaken by the charity durirg the year, in maintsiniro these archwes and making them available. 12. FIXED ASSETS Assets Caterlng under Equlpment construdion Flxlures and Flttlngs Equlpment Total Cost. Al 1st April 2¢Y22 248.887 .484 2.164 74,120 391,855 Addrtions 13,021 37,974 50,995 At 31st March 2023 1,908 e6,484 2.164 112,094 442,650 Deweci*ion'. Al 1$1 April 2¢y22 Charge for the year 242.389 .484 2,164 311,037 9,605 9,605 Al 31st March 2023 251,994 .484 2,164 320,642 Nel Bwk Value al 31st March 2023 £9,914 £112,094 £122,CK)8 Nel Book Value al 31st March 2022 £6,498 £74, 120 £80,618 Page 29 of 37
AFRICAN PEOPLES HIsfoRICAL MONUMENT FOUNDATION (BLACK CULTURAL ARCHIVES) LIMrrED Notes to the Financial Statements For the Year Ended 31st March 2023 13. OEBTORS 2023 2022 Other debtors 53,670 31.857 £53,670 £31,857 14. CREDITORS 2023 2022 Other tsx and social securty Other ¢redrtors and Ac¢ruals 15.128 12,341 70,560 68,542 Deferred income 138,398 123,675 £224,086 £204,558 Deferred Income 2023 2022 Balance at 1 April Amount released from Frfevio years Amount delerred in the year. grant Inc¢)me 123,675 182,157 1123,6751 138,938 1182.1571 123,675 Balance at 31 March £138,938 £123,675 Page 30 of 37
AFRICAN PEOPLES HIsfoRICAL MONUMENT FOUNDATION (BLACK CULTURAL ARCHIVES) LIMrrED Notes to the Financial Statements For the Year Ended 31st March 2023 RESTRICTED FUNDS 1st April 2022 31st March 2023 IneA)mÈ Expenditure Transfers Arts Council England 13.594 112.1841 1,410 Bloomberg City Bridge Trust Lcfidon BOr0h of Lamteth CaF41al grant DCMS - Cultural Recovery Fund 20.659 120,6591 23,57 122.7991 773 180,0(M) 180,(M)O 1.850 979 19791 11,85Jl Esmee Fairbairn Foundation 5,985 108.173 1108.1731 5,985 Historic England Nalienal Lottery Herrtage Fund PTC Colors 3,089 13,0891 19,8381 9,838 8,080 18,0801 WiTrdrush 4,937 14,9371 Warner Music Group & Blavatnik Family Foundation Social Justice Fund 203.574 1203.5741 Wellcome 28,174 16,623 128.1741 116.6231 Iwji 17,3071 Poetic Unrty TKJes IGooglel Paul Hamlyn Foundation Other restricted donation8 15,278 7,340 18,2231 6,486 33 49e 40x40 48,785 159,3851 10,6OJ Being Human DWS Func 11,9451 110.C(QI 17391 55 lo,C0 Elevate Fund 9,0() 8,261 National Archives 9,5CKJ 9.500 National Arehives- Md(enzie 8,222 18,2221 US Embassy 118,9271 1,077 £294,72C £465.034 £1499.6QJl £146,076) £214,078 Page 31 of 37
AFRICAN PEOPLES HIsfoRICAL MONUMENT FOUNDATION (BLACK CULTURAL ARCHIVES) LIMrrED Notes to the Financial Statements For the Year Ended 31st March 2023 b l FUNUS Icontinueai DESCRIPTION OF RESTRICTED FUNDS Arts Council England Arts Council England funds Yre granted to SUFP)rt tlkjIr0 reglience k)sl covhj aThJ artistic reSenCieS Bloomberg Bloombera reslrided income comprises of grants One grant was lo enable the creation of diqilal resources for the Bl(M)mberg Connects application - IhL8 work Crosses financial years as the national lockdowns restricted access lo the heritage collectK)rts hekj in 1 Windru5h Square. The second grant is in SUFW)rt of Blad( Culbjral Archives core functio1 aThJ to contribjle to general programmatic aclNIIy. Clty Brldge Trust City Bridge Funds were to SUPFQrt the bjsiness develOpffnI ol the organisation. Creating avenues lo sustain the organL%alk)n and provide income generaliro opwrtunf(ies. London Borough of Lambeth In addition to unrestricted revenue Lamtelh also ry0ved a capital grant lo cover an rteralive murti-year buikjing improvement 0JeCt. DCMS - Culture Recovery Fund ThL8 DCMS fu Covers two rounds of successful Fthl COVID funding that focused on the protection al development of the organSiC. Esmee Fairbairn Foundation A mulli-year project fund due lo eTrJ in 2024. 'Seeing Oursdves,. centred on rkforCe development in the arts and heritage seetor. The funds are released annualty Inot in line wth the financial yearl and cover the lull costs ol the Pfojec( Hlstoilc England Thts fund supported creatirKJ new remote vtsrtor expefn¢es and researthing and pholcgraphing the heritage collections. Natlonal Lottery Hèrit4e Fund Thts was the last Inslalmenl of funds eovèriro Ihe'securiro the Future of Blaek Brrtish Htslory resilience project that looked at strengtheniNJ governaneè and financial adminislralion, income generation, and new resour¢es and oFptunrtles for audnce engagement. PTC Colors The grant was utilised lo supwrt the exparBh)n of marketiryd efforts, alleviating Ihe cash llow bottlene¢k al 8CA. Warner Music Group & Blavatnik Family Foundation Social Justio Fund The Fenuttimate year ol a Ihree-year grant to SUPPDrt operational crtsls lo enable BCA to continue the work lo Fxeserve and celebrate the hyslories of Fecwe of AfrKan and Caiibbean descent in the United Kirodom. Wellcome Funding was received for the woject Undaunted minorty mental heatth actlVBm and archives The grant was used lo calalcgue the Melba Wilson papeTS, a collection that spans over 40 years of Melba Wilson's work in national and regional mental heatth prcMJramme5, poli units aré servres, including grassroots and communty *iwsm alongsKJe formal polKy w(Kk aThY leadership. Page 32 of 37
AFRICAN PEOPLES HIsfoRICAL MONUMENT FOUNDATION (BLACK CULTURAL ARCHIVES) LIMrrED Notes to the Financial Statements For the Year Ended 31st March 2023 15. RESTRICTED FUNDS Icontinuedl DESCRIPTION OF RESTRICTED FUNDS IconLI Windrush Income supput for the use of the venue for communty projects Paul Hamlyn FOundatn SupF()rt lor wcgrammalic work on the hBtory ofthe WiThJrush scandal and rts present-day impact Poetic Unlty Funding for a joint ect lo provide supwrt aThJ servti5 for youro people ed 12-30 years okj. Delivered by Poetic Unty. Theatre Ped(ham and Black Cultural Archwes, this project suprtS youth employment and training with a primary foGUS on Fersonal development. Tldes (Google) ThLS grant was receNed to SUPF)rt the Ofgantsalion's efforts lo digrtise and weserve digital material, prOv1ng more space aThJ er publ access lo our dvJrtal archive. 40x40 Sponsorship lo supp)rt a PR CaMpan celebratiro wesenl day contributions ofexem ary Black Brf(ish indNiduals, that resulted in an awards ceremony and exhits'lion Belng Human Funding lo support 8CA's o)ntribLrtion to the Being Human festival, enabling the abilfty lo exe¢)Jte a public engagement actNty. DWS Fund Sponsorship Irom DWS Group Services UK Limil&J to supp)rt BCA'S Black Futures Season programming. 81ack Futures season covers the actNty teh¥een October aThJ January wlh the catalyst being Black Htslory Month In the U Elevate Fund Grant provKJed by Lambelh C¢)uncil lo support the crealNe and cultural sector for all young FetsFAe wr(h a focus on creating unmissable arts education offer lor students and career opportunities in the creative industry this grant expanded eapacty and impaet within the workforce devel¢)pmenl team. National Archives The Teslbed Sustainablty grant vfts a%rdrded lo resear¢h ways to $e¢ure the yeservalion of ¢olle¢tion$ 11 Improving organisalional $L6lainability in line wth environmentsl rBk$. National Archives- McKenzie Grant awarded lo support the ¢atal¢guiro of the Anrta M¢Kenz Herrtage Funtj ¢ollecti¢)n. A large ph¢lographi¢ digrtal ¢olledion dep)siled lo BCA de1rj Bla¢k Brrttsh presen¢e. US EMb$Y Funds to supprt wggrammiThJ for BCA, all¢MrrfJ the extension of Blado Futures Season and hEhlighliro some ol the shared experiences and differences in the fight for racial jusbce and equity in the US and UK IhroL4h the mgjium of arL Page 33 of 37
AFRICAN PEOPLES HIsfoRICAL MONUMENT FOUNDATION (BLACK CULTURAL ARCHIVES) LIMrrED Notes to the Financial Statements For the Year Ended 31st March 2023 15. RESTRICTED FUNDS Icontinuedl 1st April 31 st March 20 Income Expenditure Arts Council England Bloomberg City Bridge Trust Lcfidon BOr0h of Lamteth CaF41al grant DCMS- Cultural Recovery Fund Esmee Fairbairn Foundation 13.594 13,594 2.3 23,572 25,473 17.1141 20,659 23,572 95.OCrf) 85.000 180,000 39.409 137.5591 185,0461 129,0911 1.850 5.985 85,046 5,985 Historic England National Lottery Herrtage Fund PTC Colors 32.180 3.089 7.044 49,058 146,2641 19991 116.3301 9,838 9.079 8.080 Windrush 21,267 4,937 Warner Music Group & Blavatnik Famity Foundation Social Justice Fund 160,197 1160,1971 Wellcome 29,204 129.2041 Poetic Unrty TKJes IGooglel Paul Hamlyn Foundation Other restricted donations 30.000 130.OC()I 14.7221 15,278 7,340 498 7,340 498 £155,333 £585,913 £1446.5261 £294,720 Page 34 of 37
AFRICAN PEOPLES HIsfoRICAL MONUMENT FOUNDATION (BLACK CULTURAL ARCHIVES) LIMrrED Notes to the Financial Statements For the Year Ended 31st March 2023 16. UNRESTRICTED FUNDS 1st Aprll 2022 bff 31st March 2023 clf Income Expenditure Transfers Unrestricted Funds £252,749 £429,765 £1509.3051 £42.660 £215,869 31st March 2022 clf 2021 bn Income Expenditure Transfers Unrestricted FuThJs £282,650 £463,727 £1495.1931 £1,565 £252,749 17. DESIGNATED FUNDS 1st Aprll 2022 Incom• bn Exp)dIlure Transfers 31st Maich 2023 Caylal Fun¢ 6,498 3,416 9,914 £6,498 £3.416 £9,914 The ¢aprtal fund represents lotsl fixed assets purchased wth reslri¢ted orant fvrnling 1st April 2021 Income ExpdItUre Transfers 31st March 2022 CaFylal Fund 8,C63 £8,063 11,$651 £11,565) 6,498 £6,498 Page 35 of 37
AFRICAN PEOPLES HIsfoRICAL MONUMENT FOUNDATION (BLACK CULTURAL ARCHIVES) LIMrrED Notes to the Financial Statements For the Year Ended 31st March 2023 18. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestrictad Funds Designated Funds Restrict Funds Total 2023 Fixed Assets 25,028 9.914 112,094 147,036 Current A8sels 414,927 101,984 516.911 LIalitIeS 1224,0861 1224,oe61 £215,869 £9,914 £214,078 £439,861 Unrgstrkted Deslgnated Funds Restrldgd Totsl Funds Funds 2022 Fixed Assets 25,028 6,498 74.120 105,646 Current Assets 432,279 Z20.6C 652,879 Liatsif(ies 1204.5581 1204,5581 £252,749 £6,498 £294,720 £553,*7 19. LEASEHOLD PREMISES The eharty has 4reed terms wrth the London 8oroLhJh of Lambelh lor the avrdrd of a 99-year lease at a peppercorn rent on premtses In Brton. 20. RELATED PARTY TRANSACTIONS Apart from Ivh) payments totalling the sum of £12,413 Pa in respe¢t of the 40x40 Proje¢t 1¢ P A LewB, related to Yvonne ThMIF6M. the previw$ Chair, there re no related party Iran$a¢tions in the year Page 36 of 37
21. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTlVttlES UnreStricj Funds Restricta Funds 2022 Totsl Irme and endowments from: Donations 3.327 585,913 976,240 Charrtable activities 18.772 18,772 Other trading actwities Investment Income 54.584 54,584 TOTAL INCOME 463,727 585,913 1.049,640 Expendlture on: Raising FuTrJs FundraL8irg Cc6ts Tradiw Costs 55.570 55,570 63,455 63.455 Charitable Actwrties 376,168 2,694 TOTAL EXPENDITURE 495, 193 446,52é 941,719 NET INCOMEIIEXPENDtTUREI 131.4661 139,387 107,921 Gross transfers NET MOVEMENT IN FUNDS 131.4661 139,387 107,921 BALANCE BROUGHT FORWARD 1 st APRIL 2021 290,713 155,333 446,046 BALANCE CARRIED FORWARD 31st MARCH 2022 £259.247 £294,720 £553,967 Page 37 of 37