Registered number: 03162929 Charity number: 1053950
BRICK LANE MUSIC HALL CHARITY
(A Company Limited by Guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023
BRICK LANE MUSIC HALL CHARITY
(A Company Limited by Guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Company, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 5 |
| Independent Examiner's Report | 6 - 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Statement of Cash Flows | 10 |
| Notes to the Financial Statements | 11 - 21 |
BRICK LANE MUSIC HALL CHARITY (A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 28 FEBRUARY 2023
| Trustees | C H Bowden, Chairman |
|---|---|
| T P V Hayes MBE, Chief Executive | |
| P J A Murphy | |
| J A Boux | |
| Company registered number 03162929 Charity registered number 1053950 Registered office 443 North Woolwich Road Silvertown London E16 2DA Chief executive officer T P V Hayes Accountants Stephen Iseman & Co Chartered Accountants 30 Oakridge Avenue Radlett Hertfordshire WD7 8ER |
Page 1
BRICK LANE MUSIC HALL CHARITY
(A Company Limited by Guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 28 FEBRUARY 2023
The Trustees present their annual report together with the financial statements of the company for the year 1 March 2022 to 28 February 2023. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
The principal objects of the Charity are to relieve the aged by the provision of recreational and social gatherings to improve their quality of life. There have been no changes in the objectives since the last annual report.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
Achievements and performance
a. Review of activities
The Charity has completed its first full year of activity since the outbreak of the Covid-19 pandemic with Government restrictions and related safety concerns resulted in all of its activities ceasing completely between March 2020 and reopening on 17 November 2021. The Charity has fully resumed its activity of providing subsidised matinee performances with afternoon tea at the Brick Lane Music Hall as well as taking shows out to the community. The Charity has also renewed its involvement in numerous community ventures from school projects to raising funds for local charities, particularly children with Special Educational Needs, teenagers at risk and pensioner groups. The Charity has also renewed its involvement in numerous community ventures from school projects to raising funds for local charities, particularly children with Special Educational Needs, teenagers at risk and pensioner groups.
The Trustees once again gratefully acknowledge the Arts Council Culture Recovery Fund grant which enabled the Charity to survive the prolonged closure caused by the Covid pandemic. The Charity was able to retain key staff and ensure that its Grade II listed building was properly maintained in advance of the relaunch of activities.
The Trustees have once again been able to support primary schools in Newham with their end of term shows and resume performing at community celebrations arranged by the London Borough of Newham, local charities and churches. The travelling show includes three professional performers and a musician, together with associated equipment and a period set.
The Brick Lane Music Hall van, which was bought with designated funds, was unfortunately no longer considered suitable for current requirements and was sold during the year. With the approval of the principal donor, the funds from the sale of the van have been returned to general funds for the benefit of all of the Charity’s activities.
Page 2
BRICK LANE MUSIC HALL CHARITY (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2023
Financial review
a. Going concern
Having benefited from the final tranche of financial support from the Culture Recovery Fund the charity is able to to continue to meet all of its liabilities as they fall due and in the opinion of the Trustees the Charity will continue to remain financially viable for at least twelve months from the date of their approval of these financial statements and accordingly the financial statements have been prepared on a going concern basis.
b. Reserves policy
It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at sufficient level to ensure that, in the event of a significant drop in funding, they will be able to continue the Charity's current activities for at least 6 months whilst consideration is given to ways in which additional funds may be raised. In the opinion of the trustees the minimum level of reserves to be maintained is £20,000.
c. Principal risks and uncertainties
The principal risks faced by the Charity are normal commercial operating risks and these are mitigated by a policy of only putting on shows and committing to directly related expenses once sufficient advanced bookings have been received and paid for.
Structure, governance and management
a. Constitution
Brick Lane Music Hall Charity is registered as a charitable company limited by guarantee and was set up by a Trust deed.
b. Methods of appointment or election of Trustees
When required, the Trustees look for suitable candidates to join the Board who can bring experience and expertise relevant to the charity’s objectives.
c. Organisational structure and decision-making policies
The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
d. Policies adopted for the induction and training of Trustees
New Trustees are made aware of the purposes and aims of the charity, as well as their general and specific duties, as determined by the Chairman. They are also provided with a copy of ‘The Good Trustee Guide’ and the guidance "It's your decision: charity trustees and decision making". New Trustees are expected to familiarise themselves with all the activities of the Charity.
Page 3
BRICK LANE MUSIC HALL CHARITY
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2023
Structure, governance and management (continued)
e. Related party relationships
In accordance with charity policy, on joining the board, Trustees must declare any interests that may conflict with their ability to act appropriately in their role as Trustee. If a conflict of interest should arise, they will be required to withdraw from any related decision-making situations.
The Trustees are aware that the Charity's Chief Executive, T P V Hayes, has a potential conflict of interest because of his involvement in Brick Lane Music Hall Limited and he continues to be precluded from voting on any matters involving transactions with that company. Details of related party transactions are set out in Note 17 to the financial statements.
f. Financial risk management
The Trustees have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Plans for future periods
The trustees plan to continue activities on the same basis for the foreseeable future as soon as government restrictions are sufficiently relaxed.
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the company for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . 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 of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and 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. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 4
BRICK LANE MUSIC HALL CHARITY
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2023
Approved by order of the members of the board of Trustees and signed on their behalf by:
C H Bowden
Date: 11 October 2023
Page 5
BRICK LANE MUSIC HALL CHARITY (A Company Limited by Guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 28 FEBRUARY 2023
Independent Examiner's Report to the Trustees of Brick Lane Music Hall Charity ('the company')
I report to the charity Trustees on my examination of the accounts of the company for the year ended 28 February 2023.
Responsibilities and Basis of Report
As the Trustees of the company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
Since the company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Institute of Chartered Accountants in England & Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Page 6
BRICK LANE MUSIC HALL CHARITY (A Company Limited by Guarantee)
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2023
This report is made solely to the company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work or for this report.
Signed: Dated: 11 October 2023
Stephen Iseman
FCA
30 Oakridge Avenue Radlett Hertfordshire WD7 8ER
Page 7
BRICK LANE MUSIC HALL CHARITY
(A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 28 FEBRUARY 2023
| Note Income from: Donations 3 Investments 4 Other income 5 Total income Expenditure on: Charitable activities 6 Total expenditure Net income/(expenditure) Transfers between funds Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2023 £ 574,646 2,549 89,387 666,582 610,833 610,833 55,749 21,590 77,339 125,081 77,339 202,420 |
Restricted funds 2023 £ - - - - 4,875 4,875 (4,875) (21,590) (26,465) 26,465 (26,465) - |
Total funds 2023 £ 574,646 2,549 89,387 666,582 615,708 615,708 50,874 - 50,874 151,546 50,874 202,420 |
Total funds 2022 £ 230,828 9 235,888 |
|---|---|---|---|---|
| 466,725 | ||||
| 403,356 | ||||
| 403,356 | ||||
| 63,369 - |
||||
| 63,369 | ||||
| 88,177 63,369 |
||||
| 151,546 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 11 to 21 form part of these financial statements.
Page 8
BRICK LANE MUSIC HALL CHARITY (A Company Limited by Guarantee) REGISTERED NUMBER: 03162929
BALANCE SHEET AS AT 28 FEBRUARY 2023
| Note Fixed assets Tangible assets 10 Current assets Debtors 11 Cash at bank and in hand Creditors: amounts falling due within one year 12 Net current assets Total net assets Charity funds Restricted funds Unrestricted funds Total funds |
55,610 220,727 276,337 (76,526) |
2023 £ 2,609 199,811 202,420 - 202,420 202,420 |
16,856 151,943 168,799 (50,060) |
2022 £ 32,807 118,739 |
|---|---|---|---|---|
| 151,546 | ||||
| 26,465 125,081 |
||||
| 151,546 |
The company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
C H Bowden
Date: 11 October 2023
The notes on pages 11 to 21 form part of these financial statements.
Page 9
BRICK LANE MUSIC HALL CHARITY
(A Company Limited by Guarantee)
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 28 FEBRUARY 2023
| Cash flows from operating activities Net cash used in operating activities Cash flows from investing activities Proceeds from the sale of tangible fixed assets Purchase of tangible fixed assets Profit on disposal of fixed assets Net cash provided by/(used in) investing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year |
2023 £ 43,930 31,000 (162) (5,975) 24,863 68,793 151,894 220,687 |
2022 £ 35,587 - (33,000) - (33,000) 2,587 149,307 151,894 |
|---|---|---|
The notes on pages 11 to 21 form part of these financial statements
Page 10
BRICK LANE MUSIC HALL CHARITY (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023
1. General information
The company is a registered charity limited by guarantee and incorporated in England and Wales with its registered office at 44 North Woolwich Road, Silvertown, London, E16 2DA.
The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £nil per member of the company.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Brick Lane Music Hall Charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Going concern
The Charity’s activities, together with the factors likely to affect its future development, performance and position are set out in the Trustee’s Report. Although the current economic conditions create uncertainty over future performances, the Trustee’s forecasts, taking into account the Charity’s cash holdings as a result of support from the Culture Recovery Fund, indicate that the Charity will be able to continue in operation and meet its liabilities as they fall due for at least twelve months from the date of their approval of these financial statements and the foreseeable future. Accordingly, they continues to adopt the going concern basis in preparing the annual financial statements.
2.3 Income
All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Income received for specific purposes but not expended during the period is shown in the relevant funds on the Statement of Financial Position.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
Page 11
(A Company Limited by Guarantee)
BRICK LANE MUSIC HALL CHARITY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023
2. Accounting policies (continued)
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.5 Government grants
Grants are accounted under the accruals model as permitted by FRS 102.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.
2.6 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.7 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .
Depreciation is provided on the following bases:
- Plant and machinery 15% reducing balance Motor vehicles - 25% reducing balance - Fixtures and fittings 15% reducing balance
2.8 Debtors
Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.
Page 12
BRICK LANE MUSIC HALL CHARITY
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023
2. Accounting policies (continued)
2.9 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.10 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
2.11 Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
2.12 Pensions
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.
2.13 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Page 13
BRICK LANE MUSIC HALL CHARITY
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023
3. Income from donations
| Unrestricted funds 2023 £ Donations 574,646 Unrestricted funds 2022 £ Donations 230,828 Investment income Unrestricted funds 2023 £ Bank interest receivable 2,549 All of the investment income for 2021 related to unrestricted funds. Unrestricted funds 2022 £ Bank interest receivable 9 |
Total funds 2023 £ 574,646 |
|---|---|
| Total funds 2022 £ 230,828 |
|
| Total funds 2023 £ 2,549 |
|
| Total funds 2022 £ 9 |
4. Investment income
Page 14
(A Company Limited by Guarantee)
BRICK LANE MUSIC HALL CHARITY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023
5. Other incoming resources
| Arts Council Culture Recovery Fund grant Other grants Furlough grants Arts Council grants Other grants |
Unrestricted funds 2023 £ 85,387 4,000 89,387 Unrestricted funds 2022 £ 18,508 199,237 18,143 235,888 |
Total funds 2023 £ 85,387 4,000 |
|---|---|---|
| 89,387 | ||
| Total funds 2022 £ 18,508 199,237 18,143 |
||
| 235,888 |
6. Analysis of expenditure on charitable activities Summary by fund type
| Unrestricted funds 2023 £ Provision of music hall performances 610,833 Unrestricted funds 2022 £ Provision of music hall performances 399,231 |
Restricted funds 2023 £ 4,875 Restricted funds 2022 £ 4,125 |
Total 2023 £ 615,708 |
|---|---|---|
| Total 2022 £ 403,356 |
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BRICK LANE MUSIC HALL CHARITY
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023
6. Analysis of expenditure on charitable activities (continued)
Summary by fund type (continued)
Expenditure on charitable activities for 2022 included all ongoing costs whilst the Charity has was forced to cease activities as a result of government imposed restrictions. These costs were mitigated by the receipt of various grants (Note 5).
7. Independent examiner's remuneration
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Fees payable to the company's independent examiner for the independent | ||
| examination of the company's annual accounts | 1,080 | 1,020 |
8. Staff costs
| Wages and salaries Social security costs Contribution to defined contribution pension schemes |
2023 £ 152,461 13,776 3,027 169,264 |
2022 £ 232,799 8,069 2,401 |
|---|---|---|
| 243,269 |
The average number of persons employed by the company during the year was as follows:
| 2023 | 2022 | |
|---|---|---|
| Office and support staff | 8 | 6 |
Additional part-time staff are engaged as required for individual performances.
No employee received remuneration amounting to more than £60,000 in either year.
Page 16
(A Company Limited by Guarantee)
BRICK LANE MUSIC HALL CHARITY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023
9. Trustees' remuneration and expenses
The Trustees are satisfied that it was in the best interests of the Charity to employ T P V Hayes and that his remuneration was reasonable as he was performing employee services to the Charity including, but not limited to managing and organising performances, performing himself as well as dealing with day to day matters of the Charity.
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| T P V Hayes MBE | Remuneration | 30,000 | 25,729 |
During the year ended 28 February 2023, no Trustee expenses have been incurred (2022 - £NIL).
10. Tangible fixed assets
| Cost At 1 March 2022 Additions Disposals At 28 February 2023 Depreciation At 1 March 2022 Charge for the year On disposals At 28 February 2023 Net book value At 28 February 2023 At 28 February 2022 |
Plant and machinery £ 8,065 - - 8,065 6,871 179 - 7,050 1,015 1,194 |
Motor vehicles £ 53,850 - (53,850) - 23,950 4,875 (28,825) - - 29,900 |
Fixtures and fittings £ 8,421 162 - 8,583 6,708 281 - 6,989 1,594 1,713 |
Total £ 70,336 162 (53,850) |
|---|---|---|---|---|
| 16,648 | ||||
| 37,529 5,335 (28,825) |
||||
| 14,039 | ||||
| 2,609 | ||||
| 32,807 |
Page 17
(A Company Limited by Guarantee)
BRICK LANE MUSIC HALL CHARITY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023
11. Debtors
| Due within one year Other debtors Prepayments and accrued income |
2023 £ 45,904 9,706 55,610 |
2022 £ 2,657 14,199 |
|---|---|---|
| 16,856 |
12. Creditors: Amounts falling due within one year
| Bank overdrafts Trade creditors Other taxation and social security Other creditors Accruals and deferred income |
2023 £ 40 1,627 4,556 1,730 68,573 76,526 |
2022 £ 49 190 5,169 11,708 32,944 |
|---|---|---|
| 50,060 |
13. Summary of funds
Summary of funds - current year
| General funds Restricted funds |
Balance at 1 March 2022 £ 125,081 26,465 151,546 |
Income £ 666,582 - 666,582 |
Expenditure £ (610,833) (4,875) (615,708) |
Transfers in/out £ 21,590 (21,590) - |
Balance at 28 February 2023 £ 202,420 - |
|---|---|---|---|---|---|
| 202,420 |
Page 18
BRICK LANE MUSIC HALL CHARITY
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023
13. Summary of funds (continued)
Summary of funds - prior year
| General funds Restricted funds |
Balance at 1 March 2021 £ 57,587 30,590 88,177 |
Income £ 466,725 - 466,725 |
Expenditure £ (399,231) (4,125) (403,356) |
Balance at 28 February 2022 £ 125,081 26,465 151,546 |
|---|---|---|---|---|
14. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Unrestricted funds 2023 £ Tangible fixed assets 2,609 Current assets 276,337 Creditors due within one year (76,526) Total 202,420 |
Total funds 2023 £ 2,609 276,337 (76,526) 202,420 |
|---|---|
Analysis of net assets between funds - prior year
| Tangible fixed assets Current assets Creditors due within one year Total |
Unrestricted funds 2022 £ 6,342 168,799 (50,060) 125,081 |
Restricted funds 2022 £ 26,465 - - 26,465 |
Total funds 2022 £ 32,807 168,799 (50,060) 151,546 |
|---|---|---|---|
Page 19
(A Company Limited by Guarantee)
BRICK LANE MUSIC HALL CHARITY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023
15. Reconciliation of net movement in funds to net cash flow from operating activities
| Net income for the year (as per Statement of Financial Activities) Adjustments for: Depreciation charges Increase in debtors Increase/(decrease) in creditors Net cash provided by operating activities 16. Analysis of cash and cash equivalents Cash in hand Overdraft facility repayable on demand Total cash and cash equivalents 17. Analysis of changes in net debt At 1 March 2022 £ Cash at bank and in hand 151,943 Bank overdrafts repayable on demand (49) 151,894 |
2023 £ 50,874 5,335 (38,754) 26,475 43,930 2023 £ 220,727 (40) 220,687 Cash flows £ 68,784 9 68,793 |
2022 £ 63,369 4,979 (10,848) (21,913) 35,587 2022 £ 151,943 (49) 151,894 At 28 February 2023 £ 220,727 (40) 220,687 |
|---|---|---|
Page 20
BRICK LANE MUSIC HALL CHARITY
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023
18. Related party transactions
The company shares premises and facilities with Brick Lane Music Hall Limited. T P V Hayes is a director and shareholders of Brick Lane Music Hall Limited.
During the year rent of £30,000 was charged (2022 - £30,000) by Brick Lane Music Hall Limited and certain shared overheads were recharged at cost between the Charity and Brick Lane Music Hall Limited. At the balance sheet date the Charity was owed £45,904 by (2022 - owed £7,407 to) Brick Lane Music Hall Limited.
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