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2022-03-31-accounts

Wise Thoughts

Arts Charity Annual Report 2021-2022. Creative Cultural Hub (CCH) services in Haringey, arts activities across London and further.

Company Reg. 3758786 Charity Reg. 1077616

Introduction

As we emerge from the pandemic, the organisation has been presented with both challenges and opportunities over the past year. The principal challenge was the gradual move back to delivering the range of core and commissioned activities and services in a hybrid way, including face-to-face for those that are able / willing to access them. We continue to offer online access to some of the activities and services and envisage that we shall need to maintain this way of working for the foreseeable future. The services’ strand is focused on addressing the needs of local LGBTQI+ communities and older isolated vulnerable people living in Haringey via delivering the ‘Reach and Connect’ service.

New opportunities have been created for both established and upcoming BAME and LGBTQI+ artists to create new works or facilitate creative workshops for communities, as part of our ‘ACTivate: Our Future’ (#ACTivateOurFuture) programme created by our artistic director.

The latter has also presented Wise Thoughts with opportunities to support projects led by individual artists and organisations working at a local level to create art for local communities, especially young people. Activities were delivered from the organisations’ ‘Creative Cultural Hub’ (CCH) based within Wood Green Library and within supported housing schemes managed by Homes for Haringey.

Our efforts continue to benefit individuals and organisations other and has reached individuals beyond the margins of our primary target groups. We continue to improve and expanded our partner networks, to help better support the organisation and its programme of work.

Wise Thoughts continue to work collaboratively to help ensure we can best meet our goals.

Statement from the Chair

I have the privilege of presenting the Wise Thoughts annual report, detailing the successful delivery of our programme of work and services, over the past year. However, I am mindful that we are in challenging circumstances facing a competitive environment for funding sources. The Board and I are determined to meet these challenges to continue the vital work of the organisation.

The activities and services we provide continue to engage and transform the lives of individuals from diverse and marginalised communities.

As outlined in the report, our organisation continues to deliver broad range of work created by our Artistic Director Niranjan Kamatkar.

We continue to run our #gayWISE and #womxnWISE services online and on site. The CEO and Programme Manager continue to support the council led Rainbow Network and act as key community representatives on the Council’s consultation on tackling racism and promoting diversity. Niranjan and the team also provide webinars for QTIPOC artists as part of the ACTivate: Our Future initiative.

As Chair I would like to thank the team of volunteer and staff and our management team, Niranjan, and Subodh, for all their hard work and dedication in delivering services.

I look forward to the coming year 2022-2023 to exploring new opportunities and expanding our target groups.

Bhavini Chavda

Chair of the Board of Trustees

CEO and Artistic Director's Report

The past year has presented the organisation with both great opportunities and challenges due to the impact COVID-19 had had on the organisation’s programme of work. We successfully completed the various additional initiatives that were specifically developed at the height of the pandemic as well as commence our new arts programme - #ACTivateOurFuture. The programme offers a range of opportunities for both emerging and established artists and builds upon the strengths and legacy of the organisations creations to date.

The lifting of COVID-19 restrictions enabled us to gradually reintroduce the onsite activities that have enabled local communities to engage face-to-face once again. We continue to deliver some online activities and tailored support for individuals that may need it. Continuous engagement with various departments within Haringey Council and other regional statutory agencies, we hope, will help to better support some of the most marginalised members of society.

The forthcoming year will see the organisation focus on creating opportunities for artists, audiences and participants via the various initiatives delivered by the #ACTivateOurFuture programme.

Summary of Programme of Work 2021- 2022

Wise Thoughts Arts programme

This year was primarily focused on delivering activities that form part of #ACTivateOurFuture programme of work that aims to help support the creation of new art works and provides artistic mentorship for established and emerging BAME and LGBTQI+ artists. The activities included:

Wise Thoughts Services

All social meetups and drop-in’s serve as a key 1st point of contact for community members, offering access to information, advice, support, and a free social meeting space provided by both Wise Thoughts and partner agencies. Our services included:

Niranjan Kamatkar – CEO/ Artistic Director

COMPANY LIMITED (BY GUARANTEE)

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

INCOME AND ENDOWMENTS
Donations and legacies
Voluntary grant income
Donations
Grants
Subsidy towards rent
Other trading activities
Other fees receivable
Investment income
Deposit account interest
Total incoming resources
EXPENDITURE
Charitable activities
Salaries and wages
Social security
Pension contributions
Insurance
Telephone
Project costs
Rent
Travel & subsistence
Professional services
Administration expenses
Depreciation of Plant & machinery
Depreciation of Fixtures & fittings
Depreciation of Computer equipment
Support costs
Governance costs
Accountancy fees
Total resources expended
Net Income		 2022
£
122,100
5,204
93,869
2,500
_
223,673
15,650
51
239,374
45,722
275
1,057
448
372
100,040
7500
-
450
212
374
52
278
_
156,830
3,240

160,070
79,304		 2021
£
109,600
4149
35,855
2,500
__
152,104
-
226,788
63,114
1,801
1,195
393
395
137,831
7,500
5
420
234
411
58
358
____
213,705
3,120
216,825
9,963

Acknowledgements:

We would like to take this opportunity to thank our funders, partners, and sponsors, without their support we would not have been able to progress.

The National Lottery Community Fund, Arts Council England, City Bridge Trust, Bridge Renewal Trust, Haringey Council and, Homes for Haringey.

Patrons: Board Members: Baroness Prashar CBE Bhavini Chavda- Chair Lord Dholakia OBE Tim Hoyle – Treasurer Lord Patel Dr Trevor Wood MBE- Secretary Baroness Massey Benjamin Cohen Jon Snow Dr Prof (em) Rainer Schulze Baroness Flather Katie Wood Stephen Twigg Sakib Khan Rt. Hon. David Lammy MP Ella Goschalk

Programme Management Personnel and Staff: Niranjan Kamatkar – CEO/Artistic Director Subodh Rathod – CCH Programme Manager Alice Martin – Community Connector for Reach and Connect (contracted until January 2022) Karen Orr – Community Connector for Reach and Connect (contracted until January 2022)

Key Volunteers: Joao – Webmaster (Wise Thoughts / GFEST web), Jude – #Positive Haringey Coordinator / Community outreach and peer support Abdi, Annais, Anja, Bhavna, Fiona, Katie, Marie, Mira, John, Jonathan, and Seema.

Key Partners & Supporters:

Arts Council England, The National Lottery Community Fund, City Bridge Trust, Haringey Council, pinknews.co.uk, Yellow and Blue Productions,

Company Reg. 3758786 Charity Reg. 1077616

REGISTERED COMPANY NUMBER: 03758786 (England and Wales) REGISTERED CHARITY NUMBER: 1077616

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

Michael Filiou Ltd Chartered Certified Accountants www.michaelfiliou.com Salisbury House 81 High Street Potters Bar Hertfordshire EN6 5AS

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

Page
Report of the Trustees 1 to 8
Independent Examiner's Report 9
Statement of Financial Activities 10 to 11
Statement of Financial Position 12 to 13
Notes to the Financial Statements 14 to 27
Detailed Statement of Financial Activities 28 to 29

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of 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 2019).

Page 1

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

OBJECTIVES AND ACTIVITIES Objectives and aims

Wise Thoughts is a pioneering arts charity that combines creative use of diverse art forms such as film, visual art. performance and delivers targeted services to help address social justice issues and needs of Lesbian, Gay, Bisexual, Transgender, Queer, Intersex + (LGBTQI+) and Black, Asian and Minority Ethnic (BAME) communities.

Wise Thoughts creates arts projects, develops, delivers training initiatives, and services that help to inform and raise awareness of issues related to cultural identity, ethnicity, sexual health, HIV/AIDS, and human rights. Each initiative is defined by the nature of each issue, the needs of target communities, available resources and uses diverse art forms, including South Asian arts.

The objectives of the charity are (extracted from the Memorandum and Articles of Association):

  1. To promote principally issue-based Arts from marginalised communities for the benefit of the inhabitants of UK and elsewhere.

  2. Developing public appreciation of Arts and by improving public access to, and the quality of the arts.

  3. Promotion of Human Immunodeficiency Virus/Acquired Immune Deficiency Syndrome issues through the medium of arts and in particular (but without prejudice to generality of the foregoing) the Company shall seek to bring forth issues related to HIV/AIDS and diverse sexual, cultural and ethnic identities through its creative expressions.

  4. Develop and deliver the annual LGBTQI+ arts festival 'GFEST- Gaywise FESTival'

There have been no significant changes in the charity's objectives during the year, except due to the ongoing uncertainty as a result of COVID 19, the organisation was unable to hold the GFEST.

These objectives are achieved by implementing the following policies:

  1. To improve standards of practice and appreciation of Arts through the development and delivery of arts projects and arts training that includes arts from marginalised communities.

  2. To promote, advance, encourage and assist in the practice, presentation, and study of arts from marginalised communities.

  3. To provide peer/social support, information, advice and guidance services for LGBTQI+ people .

  4. To promote, advance, encourage and assist in the practice, presentation and study of arts from marginalised communities.

  5. To bring forth issues related to HIV/AIDS and diverse sexual, cultural, and ethnic identities through the provision of information, guidance, outreach, and consultation services.

  6. To bring together and co-operate the efforts of local authorities, bodies, organisations, societies, and individuals concerned or interested in attainment of all or any of the objects of the Charity.

  7. To commission, arrange, prepare, print, publish, issue, and disseminate any programme, pamphlet, book, documents, film, recording or other artistic work and fix, make and receive fees, royalties, and other charges therefore and for admission to and otherwise in respect of any exhibition performance or display.

Page 2

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

OBJECTIVES AND ACTIVITIES

Significant activities

As a result of COVID-19 lockdown, we delivered activities online until the end of the restriction period. Post this we were able to deliver them onsite. The main activities for the year under review were:

  1. Commissioned Artists to create new work as a part of the development of 'ACTivate: Our Future' - the theme for our programme of work for the next three years. The initial development funded through the Arts Council's Cultural Recovery Fund.

  2. Held LGBTQI+ online and site-based drop-ins offering access to peer support, information, advice, and a free social meeting.

  3. Commissioned by Homes for Haringey to provide #gayWISE sessions at two of their supported Housing sites. The sessions targeted older LGBTQI+ people aged 50+ and provided access performances by emerging artists, peer group support and advice.

  4. MoversandShakers - weekly South Asian dance and yoga classes offered to local communities to help improve the physical and mental wellbeing.

  5. youthWISE summer activities provided free dance and yoga sessions for young people aged 11- 16yrs during the summer vacation. a new telephone befriending service for LGBTQI+ isolated and lonely individuals who needed additional support.

  6. 'Reach and Connect' is a service providing support for older isolated vulnerable individuals aged 50+. Delivered by a consortium of Public Voice, Mind in Haringey and Vibrance, the service has 8 Community Connectors and 2 were based with Wise Thoughts until February 2022 and then transferred over to other partners.

  7. PositiveRainbowHaringey - a peer support and advice service for HIV+ gay, bisexual and MSM men and their partners. Advice and 1-2-1 support were offered via telephone and online.

  8. Raise funding to support development and delivery of our annual programme of work.

Our annual report offers a comprehensive description of the services and activities offered by Wise Thoughts.

Volunteers

The value of services provided by volunteers is not incorporated in these financial statements. However, payments are made to cover the volunteers' actual expenses which are included in the financial statements.

Page 3

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

FINANCIAL REVIEW

Principal funding sources

The future of Wise Thoughts services is dependent on continued support from statutory sources and income from grants and donations, which are essential for the maintenance and expansion of services to meet the increasing demand.

Wise Thoughts provides essential services and develops unique arts and training projects that help to profile/meet the needs of marginalised individuals and is supported in part by Local Authority and The National Lottery Community Fund. Over the reporting year we have been successful in bringing in additional funding, however we are aware that funding may become an issue in future years, and we need to monitor this. Wise Thoughts has to continually look for funding from other organisations, charitable and corporate bodies and individual donors.

In the year under review new funding was received from Community Fund, Arts Council England, Homes for Haringey, London Community Foundation, and other organisations.

Reserves policy and Investment powers

The Board of Trustees is responsible for deciding how to invest the Charity's reserves. The appropriate level of reserves is established through an annual review of the Charity's requirements and stated in the financial report. The Treasurer is responsible for proposing to the Board the balance of cash on deposit and investments, and acts on the Board's instructions.

Going concern

The accounts have been prepared on a going concern basis.

The trustees are aware however of material uncertainties that cast doubt on the charity's ability to continue as a going concern. As with most organisations, these material uncertainties are in relation to the ongoing COVID-19 virus outbreak which has had an impact on the operations, donors, suppliers, trustees and volunteers. The trustees have (where appropriate) utilised the grants and benefits available from the organisations and government and are taking all the steps they can to protect the future of the charity.

Page 4

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

FINANCIAL REVIEW

Review of transactions, financial performance and funds

As shown in the Statement of Financial Activities (page 8) total income for the year to 31 March 2022 amounted to £201,790 (2021 - £226,788) and expenditure in the furtherance of charitable activities totalled £194,298 (2021 - £216,825). Again, in a very difficult climate for fundraising due to huge efforts from the management and the high quality of the services, Wise Thoughts was able to attract sufficient income to cover the running costs which resulted in a Net resources surplus of £7,492 (2021 £9,963 Surplus).

Awards totalling £91,519 (2021 £85,766) received in advance towards the project costs have been carried forward under Accruals and deferred income.

The CEO/Artistic director and his team control all costs rigorously. The services are much admired and viewed as important models to emulate, however in these financially challenging times it is extremely difficult to attract necessary funding. The Trustees are addressing the strategic planning essential for the provision of services within the framework of the anticipated funding.

The future of Wise Thoughts services is dependent on continued support from statutory sources and income from grants and donations, which are vital for the maintenance and expansion of services to meet the increasing demand.

Wise Thoughts provides essential services and develops unique arts and training projects that help to profile/meet the needs of marginalised individuals and was supported in part by Local Authority funding. There has been an increase in demand for projects, services and core costs that considerably outweighs the level of funding currently available.

In this very challenging climate, Wise Thoughts is pleased to have had support from London Borough of Haringey, The National Lottery Community Fund, Arts Council and other charitable bodies and individual donors. We have also continued our partnership with Public Voice to deliver the Reach and Connect service.

Total net assets of the charity as at 31 March 2022 were £47,905 (2021 - £39,603). Income received for the year for specific purposes was spent as necessary and unspent balance is carried forward to be utilised next year.

In providing day to day services, the Trustees are mindful of the charity's duty to comply with section 4 of the Charities Act 2006 to have due regard to public benefit guidance published by the Commission.

FUTURE PLANS

In light of the current economical climate and the impact from COVID-19 on the programme, the organisation continues to review its business plan/operational model to help it ensure sustainability and will make any changes needed. It remains committed to supporting the primary beneficiaries of our activities and services (LGBTQI+/BAME people) and will aim to continue delivery of a programme of key activities and associated services.

The organisation plans to continue working strategically at a Borough level, with the Council and other agencies to help achieve our objectives. The current economic climate and reduction in funding available from both statutory and other sources, has had an impact on all small voluntary organisations and will lead to the re-evaluation of any proposed new services by the organisation.

Page 5

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and Appointment of new trustees

Every person who wishes to be a Member and a trustee as such, shall deliver to the Company an application for membership in such form as the Directors require executed by that person.

At the next meeting of the Directors after the receipt of any application for membership, the application shall be considered by the Directors who shall decide upon the admission or rejection of the applicant.

Organisational structure

Wise Thoughts has a Management Committee of up to eight members who meet regularly and are responsible for strategic direction and policy of the charity. The committee members are from a variety of backgrounds relevant to the work of the charity. The committee is made up of the trustees, two contracted members - CEO/Artistic Director and the Programme Manager.

A scheme of delegation is in place and day to day responsibility for the provision of services rest with the trustees along with the CEO/Artistic Director and the Programme Manager. The trustees are responsible for ensuring that the charity delivers the services specified and that key performance indicators are met. The Artistic Director has responsibility for the day-to-day operational management of the charity, individual supervision of contracted members and ensuring that the team continues to develop their skills and working practices in line with good practice.

Induction and training of new trustees

New trustees receive a comprehensive induction package, with information covering the duties of a trustee, a trustee job description and service agreement, an outline of the vision, mission and implementation of the charity's services, the latest Report and Accounts, current year's budget and latest management accounts.

All trustees are invited to familiarise themselves with the operations of Wise Thoughts by meeting the CEO/Artistic Director and staff at a weekly Team meeting that reviews service delivery and by appointment when appropriate. Trustees are encouraged to make use of the training and conference opportunities provided by the NVCO and other bodies.

PARTNERSHIPS AND CO-OPERATION WITH OTHER CHARITIES AND ORGANISATIONS

Wise Thoughts is committed to working in partnership with organisations that help to benefit the aims and objectives of the organisation and its programme of work, it has collaborated with other statutory and voluntary organisations in the development and presentation of individual projects that have included arts festivals, conferences, and training initiatives within the past year. Staff regularly attend meetings, forums, seminars, and consultative processes co-ordinated by local, regional and national government and other community and voluntary organisations. They serve as independent advisors to the local authority and Metropolitan Police Services on policy development, implementation and other matters related to the primary beneficiaries of the organisation and its programme of work. They serve as community lead on the LGBT+ Community Network initiated by Haringey Council.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

Page 6

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 03758786 (England and Wales)

Registered Charity number

1077616

Registered office

2nd Floor, Wood Green Central Library High Road Wood Green London N22 6XD

Trustees

Ms Bhavini Chavda - Chair Mr Tim Hoyle - Treasurer Mr Benjamin Cohen Dr Trevor John Robert Wood - Secretary Prof Rainer Uwe Willy Schulze Ms Ella GOSCHALK (appointed 14.1.22) Mr Sakib KHAN (appointed 14.1.22) Ms Katie WOOD (appointed 14.1.22)

Company Secretary

Ms Bhavini Chavda - Chair

Independent Examiner

Mr Michael Filiou Chartered Certified Accountants Michael Filiou Ltd Chartered Certified Accountants www.michaelfiliou.com Salisbury House 81 High Street Potters Bar Hertfordshire EN6 5AS

Bankers

The Co-operative Bank Plc Business Direct P O Box 250 Skelmerdale WN8 6WT

Page 7

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

..........................................................................

Ms Bhavini Chavda - Chair - Trustee

Page 8

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WISE THOUGHTS

Independent examiner's report to the trustees of Wise Thoughts ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022.

Responsibilities and basis of report

As the charity's trustees of the Company (and also 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 your charity's accounts as 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

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:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

  2. 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

  3. 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.

Mr Michael Filiou Chartered Certified Accountants Michael Filiou Ltd Chartered Certified Accountants www.michaelfiliou.com Salisbury House 81 High Street Potters Bar Hertfordshire EN6 5AS

Date: .............................................

Page 9

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
8,161
Other activities income
3
1,050
Investment income
4
51
Total
9,262
EXPENDITURE ON
Charitable activities
Charitable activities
-
Gross salary
-
Project costs
-
Employer's NI
-
Rent
-
Travel and subsistence
-
Telephone
372
Insurance
448
Sundry expenses
212
Depreciation
704
Professional services
450
Accountancy fees
3,240
WiseOUT
-
Creative Cultural Hub
-
Training costs
-
Community Connector
-
COVID-19
-
Employer pension
-
Total
5,426
NET INCOME
3,836
RECONCILIATION OF FUNDS
Total funds brought forward
22,169		 Restricted
funds
£
177,928
14,600
-
192,528
-
45,772
131,718
275
7,500
-
-
-
-
-
-
-
-
-
2,550
-
-
1,057
188,872
3,656
17,434		 2022
Total
funds
£
186,089
15,650
51
201,790
-
45,772
131,718
275
7,500
-
372
448
212
704
450
3,240
-
-
2,550
-
-
1,057
194,298
7,492
39,603		 2021
Total
funds
£
152,104
74,586
98
226,788
139
63,114
57,808
1,801
-
5
395
393
-
817
420
3,120
(16)
43,355
-
10,570
33,709
1,195
216,825
9,963
29,640

The notes form part of these financial statements

Page 10

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

Unrestricted
funds
Notes
£
TOTAL FUNDS CARRIED FORWARD
26,005		 Restricted
funds
£
21,090		 2022
Total
funds
£
47,095		 2021
Total
funds
£
39,603

The notes form part of these financial statements

Page 11

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL POSITION 31 MARCH 2022

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
9
3,172
CURRENT ASSETS
Debtors
10
-
Cash at bank
23,984
23,984
CREDITORS
Amounts falling due within one year
11
(1,151)
NET CURRENT ASSETS
22,833
TOTAL ASSETS LESS CURRENT
LIABILITIES
26,005
NET ASSETS
26,005
FUNDS
12
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
funds
£
2,719
-
116,739
116,739
(98,368)
18,371
21,090
21,090		 2022
Total
funds
£
5,891
-
140,723
140,723
(99,519)
41,204
47,095
47,095
26,005
21,090
47,095		 2021
Total
funds
£
6,595
5,505
168,196
173,701
(140,693)
33,008
39,603
39,603
22,169
17,434
39,603

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 12

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL POSITION - continued 31 MARCH 2022

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

.............................................

Ms Bhavini Chavda - Chair - Trustee

.............................................

Mr Tim Hoyle - Treasurer - Trustee

The notes form part of these financial statements

Page 13

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on the going concern basis. However, it must be noted that funding to support core costs remains a challenge and any reduction or failure to secure will have an impact on sustaining the charity's programme of work.

The trustees are aware however of material uncertainties that cast doubt on the charity's ability to continue as a going concern. As with most organisations, these material uncertainties are in relation to the ongoing Covid-19 virus outbreak and lockdown which has had an impact on the operations, donors, suppliers, trustees and volunteers. The trustees have (where appropriate) utilised the grants and benefits available from the organisations and government and are taking all the steps they can to protect the future of the charity.

The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received, and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

continued...

Page 14

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

1. ACCOUNTING POLICIES - continued

Taxation

As a charity, Wise Thoughts is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

2. DONATIONS AND LEGACIES

Voluntary grants income
Donations
Grants
Subsidy towards rent
Grants received, included in the above, are as follows:
Other grants		 2022
£
106,236
5,204
72,149
2,500
186,089
2022
£
72,149		 2021
£
109,600
4,149
35,855
2,500
152,104
2021
£
35,855

Grants receivable - Basis of valuation

Grants are recorded as receivable at the monetary value which has been agreed and only when all the conditions in relation to the receipt of the grant have been met.

Page 15

continued...

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

3. OTHER ACTIVITIES INCOME

Other fees receivable
4.
INVESTMENT INCOME
Deposit account interest
5.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets		 2022
£
15,650
2022
£
51
2022
£
704		 2021
£
74,586
2021
£
98
2021
£
817

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.

Trustees' expenses comprise of out-of-pocket expenses reimbursed to the trustees.

Page 16

continued...

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

7. STAFF COSTS

The average monthly number of employees during the year was as follows:

Full time
No employees received emoluments in excess of £60,000.
8.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
6,704
Other activities income
-
Investment income
98
Total
6,802
EXPENDITURE ON
Charitable activities
Charitable activities
-
Gross salary
-
Project costs
111
Employer's NI
-
Travel and subsistence
5
Telephone
395
Insurance
393
Depreciation
817
Professional services
420
Accountancy fees
-
WiseOUT
-
Creative Cultural Hub
74
Community Connector
-
COVID-19
-
Employer pension
-
Total
2,215
NET INCOME
4,587		 2022
2
Restricted
funds
£
145,400
74,586
-
219,986
139
63,114
57,697
1,801
-
-
-
-
-
3,120
(16)
43,281
10,570
33,709
1,195
214,610
5,376		 2021
4
Total
funds
£
152,104
74,586
98
226,788
139
63,114
57,808
1,801
5
395
393
817
420
3,120
(16)
43,355
10,570
33,709
1,195
216,825
9,963

continued...

Page 17

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

8.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
funds
funds
£
£
RECONCILIATION OF FUNDS
Total funds brought forward
17,583
12,057
TOTAL FUNDS CARRIED FORWARD
22,170
17,433
9.
TANGIBLE FIXED ASSETS
Fixtures
Plant and
and
Computer
machinery
fittings
equipment
£
£
£
COST
At 1 April 2021 and 31 March 2022
24,370
3,964
15,087
DEPRECIATION
At 1 April 2021
19,689
3,442
13,695
Charge for year
374
52
278
At 31 March 2022
20,063
3,494
13,973
NET BOOK VALUE
At 31 March 2022
4,307
470
1,114
At 31 March 2021
4,681
522
1,392		 Total
funds
£
29,640
39,603
Totals
£
43,421
36,826
704
37,530
5,891
6,595

All of the charity's tangible fixed assets are used directly for its objectives.

continued...

Page 18

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

10.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
11.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Net Wages
Pension control account
Accruals and deferred income		 2022
£
-
-
-
2022
£
5,000
-
-
94,519
99,519		 2021
£
5,400
105
5,505
2021
£
51,368
252
307
88,766		 2021
£
5,400
105
5,505
140,693

continued...

Page 19

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

12. MOVEMENT IN FUNDS

Net
movement At
At 1.4.21 in funds 31.3.22
£ £ £
Unrestricted funds
General fund 8,346 1,786 10,132
Haringey Council 75 - 75
Arts Council of England 6,146 - 6,146
Donations 4,471 - 4,471
Interest received 106 - 106
Other income - 1,050 1,050
LGBT Consortium - Fees earned 25 - 25
Haringey - VCS Autumn 3,000 - 3,000
Charity Trust - 1,000 1,000
22,169 3,836 26,005
Restricted funds
Other donations 1,447 - 1,447
Haringey CCCF Core 4,884 1,761 6,645
The National Lottery Community Fund 4,847 - 4,847
Haringey Council (279) (3,066) (3,345)
John Lyon's Foundation 504 - 504
Bridge Renewal Trust 3,699 - 3,699
London Sport Ltd Sportivate (90) - (90)
The London Community Foundation
1,071 2,743 3,814
Merkel Insurance 1,183 - 1,183
Neighbourly Ltd 300 - 300
Homes for Haringey - 4,050 4,050
Creative Cultural Hub (3,429) 2,368 (1,061)
Jackson's Lane 970 - 970
Public Voice - 1 1
LGBT Consortium - Emerging With Pride 33 - 33
Haringey - Winter and Youthwise 1,000 (4,201) (3,201)
City of London WAVE 3 - WISEfriends 94 - 94
Sports England - Lunchtime Yoga
1,200 - 1,200
17,434 3,656 21,090
TOTAL FUNDS 39,603 7,492 47,095

continued...

Page 20

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

12. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Other income
Charity Trust
Restricted funds
Haringey CCCF Core
The National Lottery Community Fund
Haringey Council
The London Community Foundation
Homes for Haringey
Creative Cultural Hub
Public Voice
Haringey - Winter and Youthwise
City of London WAVE 3 - WISEfriends
City of London - WAVE 4 - ACTivate Our
Future
TOTAL FUNDS		 Incoming
resources
£
7,212
1,050
1,000
9,262
19,999
69,714
27,200
3,600
4,050
-
49,550
-
9,300
9,115
192,528
201,790		 Resources
Movement
expended
in funds
£
£
(5,426)
1,786
-
1,050
-
1,000
(5,426)
3,836
(18,238)
1,761
(69,714)
-
(30,266)
(3,066)
(857)
2,743
-
4,050
2,368
2,368
(49,549)
1
(4,201)
(4,201)
(9,300)
-
(9,115)
-
(188,872)
3,656
(194,298)
7,492

continued...

Page 21

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

12. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement At
At 1.4.20 in funds 31.3.21
£ £ £
Unrestricted funds
General fund 8,112 234 8,346
Haringey Council 75 - 75
Arts Council of England 6,146 - 6,146
Donations 3,242 1,229 4,471
Interest received 8 98 106
LGBT Consortium - Fees earned - 25 25
Haringey - VCS Autumn - 3,000 3,000
17,583 4,586 22,169
Restricted funds
Other donations 1,447 - 1,447
Haringey CCCF Core - 4,884 4,884
The National Lottery Community Fund 4,847 - 4,847
Haringey Council (1,295) 1,016 (279)
John Lyon's Foundation 3,624 (3,120) 504
Bridge Renewal Trust - 3,699 3,699
London Sport Ltd Sportivate (90) - (90)
The London Community Foundation
1,071 - 1,071
Merkel Insurance 1,183 - 1,183
Neighbourly Ltd 300 - 300
Creative Cultural Hub - (3,429) (3,429)
Jackson's Lane 970 - 970
LGBT Consortium - Emerging With Pride - 33 33
Haringey - Winter and Youthwise - 1,000 1,000
City of London WAVE 3 - WISEfriends - 94 94
Sports England - Lunchtime Yoga
- 1,200 1,200
12,057 5,377 17,434
TOTAL FUNDS 29,640 9,963 39,603

continued...

Page 22

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

12. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Donations
Interest received
LGBT Consortium - Fees earned
Haringey - VCS Autumn
Restricted funds
Haringey CCCF Core
The National Lottery Community Fund
Haringey Council
John Lyon's Foundation
Bridge Renewal Trust
Creative Cultural Hub
Arts Council of England - Organisation
Development / ACTivate Our Future
LGBT Consortium - Emerging With Pride
Haringey - Winter and Youthwise
City of London WAVE 3 - WISEfriends
City of London - WAVE 4 - ACTivate Our
Future
Sports England - Lunchtime Yoga
TOTAL FUNDS		 Incoming
resources
£
1,955
1,649
98
100
3,000
6,802
74,586
69,489
1,000
-
3,699
4,071
34,136
22,850
1,000
7,470
485
1,200
219,986
226,788		 Resources
Movement
expended
in funds
£
£
(1,721)
234
(420)
1,229
-
98
(75)
25
-
3,000
(2,216)
4,586
(69,702)
4,884
(69,489)
-
16
1,016
(3,120)
(3,120)
-
3,699
(7,500)
(3,429)
(34,136)
-
(22,817)
33
-
1,000
(7,376)
94
(485)
-
-
1,200
(214,609)
5,377
(216,825)
9,963

continued...

Page 23

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

12. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1.4.20 in funds 31.3.22
£ £ £
Unrestricted funds
General fund 8,112 2,020 10,132
Haringey Council 75 - 75
Arts Council of England 6,146 - 6,146
Donations 3,242 1,229 4,471
Interest received 8 98 106
Other income - 1,050 1,050
LGBT Consortium - Fees earned - 25 25
Haringey - VCS Autumn - 3,000 3,000
Charity Trust - 1,000 1,000
17,583 8,422 26,005
Restricted funds
Other donations 1,447 - 1,447
Haringey CCCF Core - 6,645 6,645
The National Lottery Community Fund 4,847 - 4,847
Haringey Council (1,295) (2,050) (3,345)
John Lyon's Foundation 3,624 (3,120) 504
Bridge Renewal Trust - 3,699 3,699
London Sport Ltd Sportivate (90) - (90)
The London Community Foundation
1,071 2,743 3,814
Merkel Insurance 1,183 - 1,183
Neighbourly Ltd 300 - 300
Homes for Haringey - 4,050 4,050
Creative Cultural Hub - (1,061) (1,061)
Jackson's Lane 970 - 970
Public Voice - 1 1
LGBT Consortium - Emerging With Pride - 33 33
Haringey - Winter and Youthwise - (3,201) (3,201)
City of London WAVE 3 - WISEfriends - 94 94
Sports England - Lunchtime Yoga
- 1,200 1,200
12,057 9,033 21,090

continued...

Page 24

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

12. MOVEMENT IN FUNDS - continued
TOTAL FUNDS 29,640 17,455 47,095

Page 25

continued...

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

12. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Donations
Interest received
Other income
LGBT Consortium - Fees earned
Haringey - VCS Autumn
Charity Trust
Restricted funds
Haringey CCCF Core
The National Lottery Community Fund
Haringey Council
John Lyon's Foundation
Bridge Renewal Trust
The London Community Foundation
Homes for Haringey
Creative Cultural Hub
Public Voice
Arts Council of England - Organisation
Development / ACTivate Our Future
LGBT Consortium - Emerging With Pride
Haringey - Winter and Youthwise
City of London WAVE 3 - WISEfriends
City of London - WAVE 4 - ACTivate Our
Future
Sports England - Lunchtime Yoga
TOTAL FUNDS		 Incoming
resources
£
9,167
1,649
98
1,050
100
3,000
1,000
16,064
94,585
139,203
28,200
-
3,699
3,600
4,050
4,071
49,550
34,136
22,850
1,000
16,770
9,600
1,200
412,514
428,578		 Resources
Movement
expended
in funds
£
£
(7,147)
2,020
(420)
1,229
-
98
-
1,050
(75)
25
-
3,000
-
1,000
(7,642)
8,422
(87,940)
6,645
(139,203)
-
(30,250)
(2,050)
(3,120)
(3,120)
-
3,699
(857)
2,743
-
4,050
(5,132)
(1,061)
(49,549)
1
(34,136)
-
(22,817)
33
(4,201)
(3,201)
(16,676)
94
(9,600)
-
-
1,200
(403,481)
9,033
(411,123)
17,455

Page 26

continued...

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

13. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2022.

14. LEGAL STATUS OF THE CHARITY

The Charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

Page 27

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

INCOME AND ENDOWMENTS
Donations and legacies
Voluntary grants income
Donations
Grants
Subsidy towards rent
Other activities income
Other fees receivable
Investment income
Deposit account interest
Total incoming resources
EXPENDITURE
Charitable activities
Salaries and wages
Social security
Pension contributions
Insurance
Telephone
Project costs
Rent
Travel and subsistence
Professional services
Administration expenses
Depreciation of Plant & machinery
Depreciation of Fixtures & fittings
Depreciation of Computer equipment		 2022
£
106,236
5,204
72,149
2,500
186,089
15,650
51
201,790
45,772
275
1,057
448
372
134,268
7,500
-
450
212
374
52
278
191,058		 2021
£
109,600
4,149
35,855
2,500
152,104
74,586
98
226,788
63,114
1,801
1,195
393
395
137,831
7,500
5
420
234
411
58
348
213,705

This page does not form part of the statutory financial statements

Page 28

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

Support costs
Governance costs
Accountancy fees
Total resources expended
Net income		 2022
£
3,240
194,298
7,492		 2021
£
3,120
216,825
9,963

This page does not form part of the statutory financial statements

Page 29

REGISTERED COMPANY NUMBER: 03758786 (England and Wales) REGISTERED CHARITY NUMBER: 1077616

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

Michael Filiou Ltd Chartered Certified Accountants www.michaelfiliou.com Salisbury House 81 High Street Potters Bar Hertfordshire EN6 5AS

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

Page
Report of the Trustees 1 to 8
Independent Examiner's Report 9
Statement of Financial Activities 10 to 11
Statement of Financial Position 12 to 13
Notes to the Financial Statements 14 to 27
Detailed Statement of Financial Activities 28 to 29

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of 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 2019).

Page 1

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

OBJECTIVES AND ACTIVITIES Objectives and aims

Wise Thoughts is a pioneering arts charity that combines creative use of diverse art forms such as film, visual art. performance and delivers targeted services to help address social justice issues and needs of Lesbian, Gay, Bisexual, Transgender, Queer, Intersex + (LGBTQI+) and Black, Asian and Minority Ethnic (BAME) communities.

Wise Thoughts creates arts projects, develops, delivers training initiatives, and services that help to inform and raise awareness of issues related to cultural identity, ethnicity, sexual health, HIV/AIDS, and human rights. Each initiative is defined by the nature of each issue, the needs of target communities, available resources and uses diverse art forms, including South Asian arts.

The objectives of the charity are (extracted from the Memorandum and Articles of Association):

  1. To promote principally issue-based Arts from marginalised communities for the benefit of the inhabitants of UK and elsewhere.

  2. Developing public appreciation of Arts and by improving public access to, and the quality of the arts.

  3. Promotion of Human Immunodeficiency Virus/Acquired Immune Deficiency Syndrome issues through the medium of arts and in particular (but without prejudice to generality of the foregoing) the Company shall seek to bring forth issues related to HIV/AIDS and diverse sexual, cultural and ethnic identities through its creative expressions.

  4. Develop and deliver the annual LGBTQI+ arts festival 'GFEST- Gaywise FESTival'

There have been no significant changes in the charity's objectives during the year, except due to the ongoing uncertainty as a result of COVID 19, the organisation was unable to hold the GFEST.

These objectives are achieved by implementing the following policies:

  1. To improve standards of practice and appreciation of Arts through the development and delivery of arts projects and arts training that includes arts from marginalised communities.

  2. To promote, advance, encourage and assist in the practice, presentation, and study of arts from marginalised communities.

  3. To provide peer/social support, information, advice and guidance services for LGBTQI+ people .

  4. To promote, advance, encourage and assist in the practice, presentation and study of arts from marginalised communities.

  5. To bring forth issues related to HIV/AIDS and diverse sexual, cultural, and ethnic identities through the provision of information, guidance, outreach, and consultation services.

  6. To bring together and co-operate the efforts of local authorities, bodies, organisations, societies, and individuals concerned or interested in attainment of all or any of the objects of the Charity.

  7. To commission, arrange, prepare, print, publish, issue, and disseminate any programme, pamphlet, book, documents, film, recording or other artistic work and fix, make and receive fees, royalties, and other charges therefore and for admission to and otherwise in respect of any exhibition performance or display.

Page 2

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

OBJECTIVES AND ACTIVITIES

Significant activities

As a result of COVID-19 lockdown, we delivered activities online until the end of the restriction period. Post this we were able to deliver them onsite. The main activities for the year under review were:

  1. Commissioned Artists to create new work as a part of the development of 'ACTivate: Our Future' - the theme for our programme of work for the next three years. The initial development funded through the Arts Council's Cultural Recovery Fund.

  2. Held LGBTQI+ online and site-based drop-ins offering access to peer support, information, advice, and a free social meeting.

  3. Commissioned by Homes for Haringey to provide #gayWISE sessions at two of their supported Housing sites. The sessions targeted older LGBTQI+ people aged 50+ and provided access performances by emerging artists, peer group support and advice.

  4. MoversandShakers - weekly South Asian dance and yoga classes offered to local communities to help improve the physical and mental wellbeing.

  5. youthWISE summer activities provided free dance and yoga sessions for young people aged 11- 16yrs during the summer vacation. a new telephone befriending service for LGBTQI+ isolated and lonely individuals who needed additional support.

  6. 'Reach and Connect' is a service providing support for older isolated vulnerable individuals aged 50+. Delivered by a consortium of Public Voice, Mind in Haringey and Vibrance, the service has 8 Community Connectors and 2 were based with Wise Thoughts until February 2022 and then transferred over to other partners.

  7. PositiveRainbowHaringey - a peer support and advice service for HIV+ gay, bisexual and MSM men and their partners. Advice and 1-2-1 support were offered via telephone and online.

  8. Raise funding to support development and delivery of our annual programme of work.

Our annual report offers a comprehensive description of the services and activities offered by Wise Thoughts.

Volunteers

The value of services provided by volunteers is not incorporated in these financial statements. However, payments are made to cover the volunteers' actual expenses which are included in the financial statements.

Page 3

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

FINANCIAL REVIEW

Principal funding sources

The future of Wise Thoughts services is dependent on continued support from statutory sources and income from grants and donations, which are essential for the maintenance and expansion of services to meet the increasing demand.

Wise Thoughts provides essential services and develops unique arts and training projects that help to profile/meet the needs of marginalised individuals and is supported in part by Local Authority and The National Lottery Community Fund. Over the reporting year we have been successful in bringing in additional funding, however we are aware that funding may become an issue in future years, and we need to monitor this. Wise Thoughts has to continually look for funding from other organisations, charitable and corporate bodies and individual donors.

In the year under review new funding was received from Community Fund, Arts Council England, Homes for Haringey, London Community Foundation, and other organisations.

Reserves policy and Investment powers

The Board of Trustees is responsible for deciding how to invest the Charity's reserves. The appropriate level of reserves is established through an annual review of the Charity's requirements and stated in the financial report. The Treasurer is responsible for proposing to the Board the balance of cash on deposit and investments, and acts on the Board's instructions.

Going concern

The accounts have been prepared on a going concern basis.

The trustees are aware however of material uncertainties that cast doubt on the charity's ability to continue as a going concern. As with most organisations, these material uncertainties are in relation to the ongoing COVID-19 virus outbreak which has had an impact on the operations, donors, suppliers, trustees and volunteers. The trustees have (where appropriate) utilised the grants and benefits available from the organisations and government and are taking all the steps they can to protect the future of the charity.

Page 4

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

FINANCIAL REVIEW

Review of transactions, financial performance and funds

As shown in the Statement of Financial Activities (page 8) total income for the year to 31 March 2022 amounted to £201,790 (2021 - £226,788) and expenditure in the furtherance of charitable activities totalled £194,298 (2021 - £216,825). Again, in a very difficult climate for fundraising due to huge efforts from the management and the high quality of the services, Wise Thoughts was able to attract sufficient income to cover the running costs which resulted in a Net resources surplus of £7,492 (2021 £9,963 Surplus).

Awards totalling £91,519 (2021 £85,766) received in advance towards the project costs have been carried forward under Accruals and deferred income.

The CEO/Artistic director and his team control all costs rigorously. The services are much admired and viewed as important models to emulate, however in these financially challenging times it is extremely difficult to attract necessary funding. The Trustees are addressing the strategic planning essential for the provision of services within the framework of the anticipated funding.

The future of Wise Thoughts services is dependent on continued support from statutory sources and income from grants and donations, which are vital for the maintenance and expansion of services to meet the increasing demand.

Wise Thoughts provides essential services and develops unique arts and training projects that help to profile/meet the needs of marginalised individuals and was supported in part by Local Authority funding. There has been an increase in demand for projects, services and core costs that considerably outweighs the level of funding currently available.

In this very challenging climate, Wise Thoughts is pleased to have had support from London Borough of Haringey, The National Lottery Community Fund, Arts Council and other charitable bodies and individual donors. We have also continued our partnership with Public Voice to deliver the Reach and Connect service.

Total net assets of the charity as at 31 March 2022 were £47,905 (2021 - £39,603). Income received for the year for specific purposes was spent as necessary and unspent balance is carried forward to be utilised next year.

In providing day to day services, the Trustees are mindful of the charity's duty to comply with section 4 of the Charities Act 2006 to have due regard to public benefit guidance published by the Commission.

FUTURE PLANS

In light of the current economical climate and the impact from COVID-19 on the programme, the organisation continues to review its business plan/operational model to help it ensure sustainability and will make any changes needed. It remains committed to supporting the primary beneficiaries of our activities and services (LGBTQI+/BAME people) and will aim to continue delivery of a programme of key activities and associated services.

The organisation plans to continue working strategically at a Borough level, with the Council and other agencies to help achieve our objectives. The current economic climate and reduction in funding available from both statutory and other sources, has had an impact on all small voluntary organisations and will lead to the re-evaluation of any proposed new services by the organisation.

Page 5

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and Appointment of new trustees

Every person who wishes to be a Member and a trustee as such, shall deliver to the Company an application for membership in such form as the Directors require executed by that person.

At the next meeting of the Directors after the receipt of any application for membership, the application shall be considered by the Directors who shall decide upon the admission or rejection of the applicant.

Organisational structure

Wise Thoughts has a Management Committee of up to eight members who meet regularly and are responsible for strategic direction and policy of the charity. The committee members are from a variety of backgrounds relevant to the work of the charity. The committee is made up of the trustees, two contracted members - CEO/Artistic Director and the Programme Manager.

A scheme of delegation is in place and day to day responsibility for the provision of services rest with the trustees along with the CEO/Artistic Director and the Programme Manager. The trustees are responsible for ensuring that the charity delivers the services specified and that key performance indicators are met. The Artistic Director has responsibility for the day-to-day operational management of the charity, individual supervision of contracted members and ensuring that the team continues to develop their skills and working practices in line with good practice.

Induction and training of new trustees

New trustees receive a comprehensive induction package, with information covering the duties of a trustee, a trustee job description and service agreement, an outline of the vision, mission and implementation of the charity's services, the latest Report and Accounts, current year's budget and latest management accounts.

All trustees are invited to familiarise themselves with the operations of Wise Thoughts by meeting the CEO/Artistic Director and staff at a weekly Team meeting that reviews service delivery and by appointment when appropriate. Trustees are encouraged to make use of the training and conference opportunities provided by the NVCO and other bodies.

PARTNERSHIPS AND CO-OPERATION WITH OTHER CHARITIES AND ORGANISATIONS

Wise Thoughts is committed to working in partnership with organisations that help to benefit the aims and objectives of the organisation and its programme of work, it has collaborated with other statutory and voluntary organisations in the development and presentation of individual projects that have included arts festivals, conferences, and training initiatives within the past year. Staff regularly attend meetings, forums, seminars, and consultative processes co-ordinated by local, regional and national government and other community and voluntary organisations. They serve as independent advisors to the local authority and Metropolitan Police Services on policy development, implementation and other matters related to the primary beneficiaries of the organisation and its programme of work. They serve as community lead on the LGBT+ Community Network initiated by Haringey Council.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

Page 6

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 03758786 (England and Wales)

Registered Charity number

1077616

Registered office

2nd Floor, Wood Green Central Library High Road Wood Green London N22 6XD

Trustees

Ms Bhavini Chavda - Chair Mr Tim Hoyle - Treasurer Mr Benjamin Cohen Dr Trevor John Robert Wood - Secretary Prof Rainer Uwe Willy Schulze Ms Ella GOSCHALK (appointed 14.1.22) Mr Sakib KHAN (appointed 14.1.22) Ms Katie WOOD (appointed 14.1.22)

Company Secretary

Ms Bhavini Chavda - Chair

Independent Examiner

Mr Michael Filiou Chartered Certified Accountants Michael Filiou Ltd Chartered Certified Accountants www.michaelfiliou.com Salisbury House 81 High Street Potters Bar Hertfordshire EN6 5AS

Bankers

The Co-operative Bank Plc Business Direct P O Box 250 Skelmerdale WN8 6WT

Page 7

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

..........................................................................

Ms Bhavini Chavda - Chair - Trustee

Page 8

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WISE THOUGHTS

Independent examiner's report to the trustees of Wise Thoughts ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022.

Responsibilities and basis of report

As the charity's trustees of the Company (and also 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 your charity's accounts as 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

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:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

  2. 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

  3. 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.

Mr Michael Filiou Chartered Certified Accountants Michael Filiou Ltd Chartered Certified Accountants www.michaelfiliou.com Salisbury House 81 High Street Potters Bar Hertfordshire EN6 5AS

Date: .............................................

Page 9

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
8,161
Other activities income
3
1,050
Investment income
4
51
Total
9,262
EXPENDITURE ON
Charitable activities
Charitable activities
-
Gross salary
-
Project costs
-
Employer's NI
-
Rent
-
Travel and subsistence
-
Telephone
372
Insurance
448
Sundry expenses
212
Depreciation
704
Professional services
450
Accountancy fees
3,240
WiseOUT
-
Creative Cultural Hub
-
Training costs
-
Community Connector
-
COVID-19
-
Employer pension
-
Total
5,426
NET INCOME
3,836
RECONCILIATION OF FUNDS
Total funds brought forward
22,169		 Restricted
funds
£
177,928
14,600
-
192,528
-
45,772
131,718
275
7,500
-
-
-
-
-
-
-
-
-
2,550
-
-
1,057
188,872
3,656
17,434		 2022
Total
funds
£
186,089
15,650
51
201,790
-
45,772
131,718
275
7,500
-
372
448
212
704
450
3,240
-
-
2,550
-
-
1,057
194,298
7,492
39,603		 2021
Total
funds
£
152,104
74,586
98
226,788
139
63,114
57,808
1,801
-
5
395
393
-
817
420
3,120
(16)
43,355
-
10,570
33,709
1,195
216,825
9,963
29,640

The notes form part of these financial statements

Page 10

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

Unrestricted
funds
Notes
£
TOTAL FUNDS CARRIED FORWARD
26,005		 Restricted
funds
£
21,090		 2022
Total
funds
£
47,095		 2021
Total
funds
£
39,603

The notes form part of these financial statements

Page 11

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL POSITION 31 MARCH 2022

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
9
3,172
CURRENT ASSETS
Debtors
10
-
Cash at bank
23,984
23,984
CREDITORS
Amounts falling due within one year
11
(1,151)
NET CURRENT ASSETS
22,833
TOTAL ASSETS LESS CURRENT
LIABILITIES
26,005
NET ASSETS
26,005
FUNDS
12
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
funds
£
2,719
-
116,739
116,739
(98,368)
18,371
21,090
21,090		 2022
Total
funds
£
5,891
-
140,723
140,723
(99,519)
41,204
47,095
47,095
26,005
21,090
47,095		 2021
Total
funds
£
6,595
5,505
168,196
173,701
(140,693)
33,008
39,603
39,603
22,169
17,434
39,603

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 12

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL POSITION - continued 31 MARCH 2022

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

.............................................

Ms Bhavini Chavda - Chair - Trustee

.............................................

Mr Tim Hoyle - Treasurer - Trustee

The notes form part of these financial statements

Page 13

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on the going concern basis. However, it must be noted that funding to support core costs remains a challenge and any reduction or failure to secure will have an impact on sustaining the charity's programme of work.

The trustees are aware however of material uncertainties that cast doubt on the charity's ability to continue as a going concern. As with most organisations, these material uncertainties are in relation to the ongoing Covid-19 virus outbreak and lockdown which has had an impact on the operations, donors, suppliers, trustees and volunteers. The trustees have (where appropriate) utilised the grants and benefits available from the organisations and government and are taking all the steps they can to protect the future of the charity.

The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received, and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

continued...

Page 14

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

1. ACCOUNTING POLICIES - continued

Taxation

As a charity, Wise Thoughts is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

2. DONATIONS AND LEGACIES

Voluntary grants income
Donations
Grants
Subsidy towards rent
Grants received, included in the above, are as follows:
Other grants		 2022
£
106,236
5,204
72,149
2,500
186,089
2022
£
72,149		 2021
£
109,600
4,149
35,855
2,500
152,104
2021
£
35,855

Grants receivable - Basis of valuation

Grants are recorded as receivable at the monetary value which has been agreed and only when all the conditions in relation to the receipt of the grant have been met.

Page 15

continued...

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

3. OTHER ACTIVITIES INCOME

Other fees receivable
4.
INVESTMENT INCOME
Deposit account interest
5.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets		 2022
£
15,650
2022
£
51
2022
£
704		 2021
£
74,586
2021
£
98
2021
£
817

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.

Trustees' expenses comprise of out-of-pocket expenses reimbursed to the trustees.

Page 16

continued...

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

7. STAFF COSTS

The average monthly number of employees during the year was as follows:

Full time
No employees received emoluments in excess of £60,000.
8.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
6,704
Other activities income
-
Investment income
98
Total
6,802
EXPENDITURE ON
Charitable activities
Charitable activities
-
Gross salary
-
Project costs
111
Employer's NI
-
Travel and subsistence
5
Telephone
395
Insurance
393
Depreciation
817
Professional services
420
Accountancy fees
-
WiseOUT
-
Creative Cultural Hub
74
Community Connector
-
COVID-19
-
Employer pension
-
Total
2,215
NET INCOME
4,587		 2022
2
Restricted
funds
£
145,400
74,586
-
219,986
139
63,114
57,697
1,801
-
-
-
-
-
3,120
(16)
43,281
10,570
33,709
1,195
214,610
5,376		 2021
4
Total
funds
£
152,104
74,586
98
226,788
139
63,114
57,808
1,801
5
395
393
817
420
3,120
(16)
43,355
10,570
33,709
1,195
216,825
9,963

continued...

Page 17

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

8.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
funds
funds
£
£
RECONCILIATION OF FUNDS
Total funds brought forward
17,583
12,057
TOTAL FUNDS CARRIED FORWARD
22,170
17,433
9.
TANGIBLE FIXED ASSETS
Fixtures
Plant and
and
Computer
machinery
fittings
equipment
£
£
£
COST
At 1 April 2021 and 31 March 2022
24,370
3,964
15,087
DEPRECIATION
At 1 April 2021
19,689
3,442
13,695
Charge for year
374
52
278
At 31 March 2022
20,063
3,494
13,973
NET BOOK VALUE
At 31 March 2022
4,307
470
1,114
At 31 March 2021
4,681
522
1,392		 Total
funds
£
29,640
39,603
Totals
£
43,421
36,826
704
37,530
5,891
6,595

All of the charity's tangible fixed assets are used directly for its objectives.

continued...

Page 18

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

10.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
11.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Net Wages
Pension control account
Accruals and deferred income		 2022
£
-
-
-
2022
£
5,000
-
-
94,519
99,519		 2021
£
5,400
105
5,505
2021
£
51,368
252
307
88,766		 2021
£
5,400
105
5,505
140,693

continued...

Page 19

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

12. MOVEMENT IN FUNDS

Net
movement At
At 1.4.21 in funds 31.3.22
£ £ £
Unrestricted funds
General fund 8,346 1,786 10,132
Haringey Council 75 - 75
Arts Council of England 6,146 - 6,146
Donations 4,471 - 4,471
Interest received 106 - 106
Other income - 1,050 1,050
LGBT Consortium - Fees earned 25 - 25
Haringey - VCS Autumn 3,000 - 3,000
Charity Trust - 1,000 1,000
22,169 3,836 26,005
Restricted funds
Other donations 1,447 - 1,447
Haringey CCCF Core 4,884 1,761 6,645
The National Lottery Community Fund 4,847 - 4,847
Haringey Council (279) (3,066) (3,345)
John Lyon's Foundation 504 - 504
Bridge Renewal Trust 3,699 - 3,699
London Sport Ltd Sportivate (90) - (90)
The London Community Foundation
1,071 2,743 3,814
Merkel Insurance 1,183 - 1,183
Neighbourly Ltd 300 - 300
Homes for Haringey - 4,050 4,050
Creative Cultural Hub (3,429) 2,368 (1,061)
Jackson's Lane 970 - 970
Public Voice - 1 1
LGBT Consortium - Emerging With Pride 33 - 33
Haringey - Winter and Youthwise 1,000 (4,201) (3,201)
City of London WAVE 3 - WISEfriends 94 - 94
Sports England - Lunchtime Yoga
1,200 - 1,200
17,434 3,656 21,090
TOTAL FUNDS 39,603 7,492 47,095

continued...

Page 20

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

12. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Other income
Charity Trust
Restricted funds
Haringey CCCF Core
The National Lottery Community Fund
Haringey Council
The London Community Foundation
Homes for Haringey
Creative Cultural Hub
Public Voice
Haringey - Winter and Youthwise
City of London WAVE 3 - WISEfriends
City of London - WAVE 4 - ACTivate Our
Future
TOTAL FUNDS		 Incoming
resources
£
7,212
1,050
1,000
9,262
19,999
69,714
27,200
3,600
4,050
-
49,550
-
9,300
9,115
192,528
201,790		 Resources
Movement
expended
in funds
£
£
(5,426)
1,786
-
1,050
-
1,000
(5,426)
3,836
(18,238)
1,761
(69,714)
-
(30,266)
(3,066)
(857)
2,743
-
4,050
2,368
2,368
(49,549)
1
(4,201)
(4,201)
(9,300)
-
(9,115)
-
(188,872)
3,656
(194,298)
7,492

continued...

Page 21

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

12. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement At
At 1.4.20 in funds 31.3.21
£ £ £
Unrestricted funds
General fund 8,112 234 8,346
Haringey Council 75 - 75
Arts Council of England 6,146 - 6,146
Donations 3,242 1,229 4,471
Interest received 8 98 106
LGBT Consortium - Fees earned - 25 25
Haringey - VCS Autumn - 3,000 3,000
17,583 4,586 22,169
Restricted funds
Other donations 1,447 - 1,447
Haringey CCCF Core - 4,884 4,884
The National Lottery Community Fund 4,847 - 4,847
Haringey Council (1,295) 1,016 (279)
John Lyon's Foundation 3,624 (3,120) 504
Bridge Renewal Trust - 3,699 3,699
London Sport Ltd Sportivate (90) - (90)
The London Community Foundation
1,071 - 1,071
Merkel Insurance 1,183 - 1,183
Neighbourly Ltd 300 - 300
Creative Cultural Hub - (3,429) (3,429)
Jackson's Lane 970 - 970
LGBT Consortium - Emerging With Pride - 33 33
Haringey - Winter and Youthwise - 1,000 1,000
City of London WAVE 3 - WISEfriends - 94 94
Sports England - Lunchtime Yoga
- 1,200 1,200
12,057 5,377 17,434
TOTAL FUNDS 29,640 9,963 39,603

continued...

Page 22

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

12. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Donations
Interest received
LGBT Consortium - Fees earned
Haringey - VCS Autumn
Restricted funds
Haringey CCCF Core
The National Lottery Community Fund
Haringey Council
John Lyon's Foundation
Bridge Renewal Trust
Creative Cultural Hub
Arts Council of England - Organisation
Development / ACTivate Our Future
LGBT Consortium - Emerging With Pride
Haringey - Winter and Youthwise
City of London WAVE 3 - WISEfriends
City of London - WAVE 4 - ACTivate Our
Future
Sports England - Lunchtime Yoga
TOTAL FUNDS		 Incoming
resources
£
1,955
1,649
98
100
3,000
6,802
74,586
69,489
1,000
-
3,699
4,071
34,136
22,850
1,000
7,470
485
1,200
219,986
226,788		 Resources
Movement
expended
in funds
£
£
(1,721)
234
(420)
1,229
-
98
(75)
25
-
3,000
(2,216)
4,586
(69,702)
4,884
(69,489)
-
16
1,016
(3,120)
(3,120)
-
3,699
(7,500)
(3,429)
(34,136)
-
(22,817)
33
-
1,000
(7,376)
94
(485)
-
-
1,200
(214,609)
5,377
(216,825)
9,963

continued...

Page 23

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

12. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1.4.20 in funds 31.3.22
£ £ £
Unrestricted funds
General fund 8,112 2,020 10,132
Haringey Council 75 - 75
Arts Council of England 6,146 - 6,146
Donations 3,242 1,229 4,471
Interest received 8 98 106
Other income - 1,050 1,050
LGBT Consortium - Fees earned - 25 25
Haringey - VCS Autumn - 3,000 3,000
Charity Trust - 1,000 1,000
17,583 8,422 26,005
Restricted funds
Other donations 1,447 - 1,447
Haringey CCCF Core - 6,645 6,645
The National Lottery Community Fund 4,847 - 4,847
Haringey Council (1,295) (2,050) (3,345)
John Lyon's Foundation 3,624 (3,120) 504
Bridge Renewal Trust - 3,699 3,699
London Sport Ltd Sportivate (90) - (90)
The London Community Foundation
1,071 2,743 3,814
Merkel Insurance 1,183 - 1,183
Neighbourly Ltd 300 - 300
Homes for Haringey - 4,050 4,050
Creative Cultural Hub - (1,061) (1,061)
Jackson's Lane 970 - 970
Public Voice - 1 1
LGBT Consortium - Emerging With Pride - 33 33
Haringey - Winter and Youthwise - (3,201) (3,201)
City of London WAVE 3 - WISEfriends - 94 94
Sports England - Lunchtime Yoga
- 1,200 1,200
12,057 9,033 21,090

continued...

Page 24

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

12. MOVEMENT IN FUNDS - continued
TOTAL FUNDS 29,640 17,455 47,095

Page 25

continued...

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

12. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Donations
Interest received
Other income
LGBT Consortium - Fees earned
Haringey - VCS Autumn
Charity Trust
Restricted funds
Haringey CCCF Core
The National Lottery Community Fund
Haringey Council
John Lyon's Foundation
Bridge Renewal Trust
The London Community Foundation
Homes for Haringey
Creative Cultural Hub
Public Voice
Arts Council of England - Organisation
Development / ACTivate Our Future
LGBT Consortium - Emerging With Pride
Haringey - Winter and Youthwise
City of London WAVE 3 - WISEfriends
City of London - WAVE 4 - ACTivate Our
Future
Sports England - Lunchtime Yoga
TOTAL FUNDS		 Incoming
resources
£
9,167
1,649
98
1,050
100
3,000
1,000
16,064
94,585
139,203
28,200
-
3,699
3,600
4,050
4,071
49,550
34,136
22,850
1,000
16,770
9,600
1,200
412,514
428,578		 Resources
Movement
expended
in funds
£
£
(7,147)
2,020
(420)
1,229
-
98
-
1,050
(75)
25
-
3,000
-
1,000
(7,642)
8,422
(87,940)
6,645
(139,203)
-
(30,250)
(2,050)
(3,120)
(3,120)
-
3,699
(857)
2,743
-
4,050
(5,132)
(1,061)
(49,549)
1
(34,136)
-
(22,817)
33
(4,201)
(3,201)
(16,676)
94
(9,600)
-
-
1,200
(403,481)
9,033
(411,123)
17,455

Page 26

continued...

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

13. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2022.

14. LEGAL STATUS OF THE CHARITY

The Charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

Page 27

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

INCOME AND ENDOWMENTS
Donations and legacies
Voluntary grants income
Donations
Grants
Subsidy towards rent
Other activities income
Other fees receivable
Investment income
Deposit account interest
Total incoming resources
EXPENDITURE
Charitable activities
Salaries and wages
Social security
Pension contributions
Insurance
Telephone
Project costs
Rent
Travel and subsistence
Professional services
Administration expenses
Depreciation of Plant & machinery
Depreciation of Fixtures & fittings
Depreciation of Computer equipment		 2022
£
106,236
5,204
72,149
2,500
186,089
15,650
51
201,790
45,772
275
1,057
448
372
134,268
7,500
-
450
212
374
52
278
191,058		 2021
£
109,600
4,149
35,855
2,500
152,104
74,586
98
226,788
63,114
1,801
1,195
393
395
137,831
7,500
5
420
234
411
58
348
213,705

This page does not form part of the statutory financial statements

Page 28

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

Support costs
Governance costs
Accountancy fees
Total resources expended
Net income		 2022
£
3,240
194,298
7,492		 2021
£
3,120
216,825
9,963

This page does not form part of the statutory financial statements

Page 29