OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-03-31-accounts

Wise Thoughts Arts Charity Annual Report 2022-2023. Creative Cultural Hub (CCH) services in Haringey, arts activities across London and further.

Company Reg. 3758786 Charity Reg. 1077616

Introduction

The key guiding principal for all charities is to help/ support individuals, communities and /or causes that they aim to serve. To achieve their aims and objectives, they must develop and deliver a range of initiatives paid by financial support from grants and donations. The cost-of-living crisis has presented, and will continue to present, significant challenges to meet these goals. The crisis has also had a detrimental impact on the lives of our beneficiaries with many struggling to even access initiatives that have been offered. However, like many of our peers, we have persevered and have tried to meet the challenge head on. This has only been possible through the funding received and with the good will and support of individuals and communities.

The arts remain our primary vehicle for meeting our aims. Arts initiatives combined with the wellbeing activities and peer support services that we deliver has helped to improve the lives of BAME and LGBTQI+ communities. The programme created by our Artistic Director / CEO presented new opportunities for artists and expanded our wellbeing activities to new areas. Our moto remains ‘Create – Challenge – Change’.

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 annual Wise Thoughts report, covering the delivery of our programme of work and services. The funding environment continues to be fiscally sensitive; the Board and I are determined to meet these challenges to continue our vital work.

The activities and services that the organisation provides are vital to the diverse communities that we serve.

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

The gayWise and womxnWise services facilitate essential community networks, in person and online. We are also providing ongoing support to QTIPOC artists under the ACTivate: Our Future initiative.

I would like to thank, on behalf of the Board, our volunteers and staff members, Subodh and Niranjan for their unstinting commitment and dedication to the organisation and its work, in this challenging environment.

I look forward to the coming year and the ongoing projects coming to fruition, as we look to engage and collaborate with new audiences and organisations.

Bhavini Chavda Chair of the Board of Trustees

Statement from CEO and Artistic Director

The past year had presented the organisation with both opportunities and challenges, largely because of the cost-of-living crisis. Despite the challenges we were able to offer and diverse programme of arts activities and wellbeing initiatives that has helped to enrich the lives of many. The past year has helped to galvanise and refresh our creativity and led to forming partnerships to help extend our reach to areas outside London.

The year’s arts programme had focused on supporting individual artists by offering opportunities under the #ACTivateOurFuture initiative, commissioning new work that is showcased on our social media platforms and facilitating workshops and talks for our community arts programme which enabled local communities to practically engage with the arts. Initiatives were delivered at Wise Thoughts’ CCH and regional venues. We have established new partnerships with organisations based outside London to expand the programme into new regions. Working with traditional arts and artistic mediums that can help to increase our audiences and beneficiaries.

We have continued to provide artistic mentorship for established and emerging BAME and LGBTQI+ artists. Towards the end of the year, we started laying the foundation for three new projects that will become the focus of our arts programme for the next three years.

We continued to provide a free social meeting space for local community members from marginalised communities. Our social meetups and drop-in’s continued to serve as a key 1st point of contact for community members, offering access to information, advice, and peer support. The drop-ins also offered community engagement / consultation opportunities and a platform to deliver services for other local statutory service providers.

The forthcoming year will see the organisation focus on creating a legacy for future generations through three new arts programmes for artists and communities. The programme will be developed with the support of artists and organisations based in London and elsewhere, including some international initiatives.

Summary of Programme of Work 2022- 2023

Activities delivered under Wise Thoughts arts programme included:

Activities delivered under the Wise Thoughts health and wellbeing programme included:

Niranjan Kamatkar – CEO/ Artistic Director

COMPANY LIMITED (BY GUARANTEE)

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

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		 2023
£
121,719
1,907
22,451
11,250
_
223,673
750
141
158,218
-
-
-
444
636
84,780
7500
355
35
3500
341
47
223
_
100,863
3,480

104,343
53,875		 2022
£
122,100
5,204
72,149
2,500
__
186,089
15,650
51
201,790
45,722
275
1,057
448
372
134,268
7,500
-
450
212
374
52
278
____
191,058
3,240
194,298
7,492

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, and Haringey Council.

Patrons: Baroness Prashar CBE Lord Dholakia OBE Lord Patel Baroness Massey Jon Snow Baroness Flather Stephen Twigg Rt. Hon. David Lammy MP

Board Members: Bhavini Chavda- Chair Tim Hoyle – Treasurer Dr Trevor Wood MBE- Secretary Benjamin Cohen Dr Prof (em) Rainer Schulze Katie Wood Sakib Khan

Programme Management Personnel and Staff: Niranjan Kamatkar – CEO/Artistic Director Subodh Rathod – CCH Programme Manager Anja Nikodem – Yoga teacher Marie Kearney – Drop-ins facilitator

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

Key Partners & Supporters:

Arts Council England, The National Lottery Community Fund, Haringey Council, pinknews.co.uk, S R Creations Ltd and 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 2023

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 2023

Page
Report of the Trustees 1 to 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Statement of Financial Position 9 to 10
Notes to the Financial Statements 11 to 21
Detailed Statement of Financial Activities 22

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

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 2023. 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).

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, Human Immunodeficiency Virus/Acquired Immune Deficiency Syndrome (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 HIV/AIDS 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.

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 1

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

OBJECTIVES AND ACTIVITIES Significant activities

Significant Activities delivered under Wise Thoughts arts programme included:

  1. Commissioning artists to create new works that are showcased on the organisation's website site, YouTube and other social media channels.

  2. Working in partnership with other UK and India based organisations to conduct initial research and development for three new multimedia arts projects and deliver arts workshops outside London.

  3. Artists talks, performances and readings as a part of the weekly drop-in's and during South Asian Heritage, Black and LGBTQI+ History Months.

  4. South Asian dance and visual arts workshops in East Anglia region as a part of our expansion programme.

  5. South Asian dance workshops for young people in Haringey in partnership with Haringey Youth Services.

Activities delivered under the Wise Thoughts health and wellbeing programme included:

  1. LGBTQI+ meetups #gayWISE and #womxnWISE held online and onsite post the lifting of restrictions.

  2. Weekly yoga and dance sessions to support both physical and mental wellbeing of both existing and new service users.

  3. PositiveRainbowHaringey - a peer support and advice service for HIV+ gay, bisexual and Men who have Sex with Men (MSM) and their partners. Advice and 1-2-1 support were offered via a weekly health stall, telephone and online.

  4. Consultation - providing advice on inclusion of LGBTQI+/ BAME communities processes for both local and regional authorities.

  5. Provided temporary freelance employment opportunities for unemployed people to help develop and deliver new initiatives.

  6. Delivered yoga sessions for young people. at Rising Green youth Hub as part of the summer activities programme for London Borough of Haringey.

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 2

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

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, Haringey Council, other organisations and donors.

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.

Review of transactions, financial performance and funds

As shown in the Statement of Financial Activities (page 9) total income for the year to 31 March 2023 amounted to £158,218 (2022 - £201,790) and expenditure in the furtherance of charitable activities totalled £104,343 (2022 - £194,298). 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 £53,875 (2022 - £7,492).

Awards totalling £Nil (2022 - £91,519) 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 and other charitable bodies and individual donors.

Total net assets of the charity as at 31 March 2023 were £100,970 (2022 - £47,095). 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.

Page 3

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

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.

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 National Council of Voluntary Organisations (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.

Page 4

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT

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.

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 Mr Sakib Khan Ms Katie Wood

Company Secretary

Ms Bhavini Chavda - Chair

Independent Examiner

Mr Michael Filiou 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 5

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

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 29 September 2023 and signed on its behalf by:

Ms Bhavini Chavda - Chair - Trustee

Page 6

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 2023.

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

  3. 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

  4. 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

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

29 September 2023

Page 7

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
2,636
Other activities income
3
750
Investment income
4
141
Total
3,527
EXPENDITURE ON
Charitable activities
Gross salary
-
Project costs
-
Charitable activities
3,496
Employer's NI
-
Rent
1,250
Travel and subsistence
355
Telephone
636
Insurance
444
Sundry expenses
-
Depreciation
611
Professional services
35
Subscriptions
396
Accountancy fees
3,480
Creative Cultural Hub
-
Training costs
25
Employer pension
-
Total
10,728
NET INCOME/(EXPENDITURE)
(7,201)
Transfers between funds
11
5,108
Net movement in funds
(2,093)
RECONCILIATION OF FUNDS
Total funds brought forward
26,005
TOTAL FUNDS CARRIED FORWARD
23,912		 Restricted
funds
£
154,691
-
-
154,691
-
9,387
-
-
6,250
-
-
-
-
-
-
-
-
75,393
2,585
-
93,615
61,076
(5,108)
55,968
21,090
77,058		 2023
Total
funds
£
157,327
750
141
158,218
-
9,387
3,496
-
7,500
355
636
444
-
611
35
396
3,480
75,393
2,610
-
104,343
53,875
-
53,875
47,095
100,970		 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
-
7,492
39,603
47,095

The notes form part of these financial statements

Page 8

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL POSITION 31 MARCH 2023

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
9
2,561
CURRENT ASSETS
Cash at bank
22,578
CREDITORS
Amounts falling due within one year
10
(1,227)
NET CURRENT ASSETS
21,351
TOTAL ASSETS LESS CURRENT
LIABILITIES
23,912
NET ASSETS
23,912
FUNDS
11
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
funds
£
2,719
76,477
(2,138)
74,339
77,058
77,058		 2023
Total
funds
£
5,280
99,055
(3,365)
95,690
100,970
100,970
23,912
77,058
100,970		 2022
Total
funds
£
5,891
140,723
(99,519)
41,204
47,095
47,095
26,005
21,090
47,095

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 9

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL POSITION - continued 31 MARCH 2023

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 29 September 2023 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 10

(A COMPANY LIMITED BY GUARANTEE)

WISE THOUGHTS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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.

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.

Plant and machinery - at variable rates on reducing balance Fixtures and fittings - 10% on reducing balance Computer equipment - 20% on reducing balance

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.

continued...

Page 11

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

2. DONATIONS AND LEGACIES

Voluntary grants income
Donations
Grants
Subsidy towards rent
Grants received, included in the above, are as follows:
Other grants		 2023
£
121,719
1,907
22,451
11,250
157,327
2023
£
22,451		 2022
£
106,236
5,204
72,149
2,500
186,089
2022
£
72,149

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.

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		 2023
£
750
2023
£
141
2023
£
611		 2022
£
15,650
2022
£
51
2022
£
704

continued...

Page 12

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.

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

7. STAFF COSTS

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

8.

Full time
No employees received emoluments in excess of £60,000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
8,161
Other activities income
1,050
Investment income
51
Total
9,262
EXPENDITURE ON
Charitable activities
Gross salary
-
Project costs
-
Employer's NI
-
Rent
-
Telephone
372
Insurance
448
Sundry expenses
212
Depreciation
704
Professional services
450
Accountancy fees
3,240
Training costs
-
Employer pension
-
Total
5,426
NET INCOME
3,836		 2023
-
Restricted
funds
£
177,928
14,600
-
192,528
45,772
131,718
275
7,500
-
-
-
-
-
-
2,550
1,057
188,872
3,656		 2022
2
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

continued...

Page 13

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

8.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
funds
funds
£
£
RECONCILIATION OF FUNDS
Total funds brought forward
22,169
17,434
TOTAL FUNDS CARRIED FORWARD
26,005
21,090
9.
TANGIBLE FIXED ASSETS
Fixtures
Plant and
and
Computer
machinery
fittings
equipment
£
£
£
COST
At 1 April 2022 and 31 March 2023
24,370
3,964
15,087
DEPRECIATION
At 1 April 2022
20,063
3,494
13,973
Charge for year
341
47
223
At 31 March 2023
20,404
3,541
14,196
NET BOOK VALUE
At 31 March 2023
3,966
423
891
At 31 March 2022
4,307
470
1,114
All of the charity's tangible fixed assets are used directly for its objectives.
10.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023
£
Trade creditors
365
Accruals and deferred income
3,000
3,365		 Total
funds
£
39,603
47,095
Totals
£
43,421
37,530
611
38,141
5,280
5,891
2022
£
5,000
94,519
99,519

continued...

Page 14

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

11. MOVEMENT IN FUNDS

Net Transfers
movement between At
At 1.4.22 in funds funds 31.3.23
£ £ £ £
Unrestricted funds
General fund 10,132 (8,682) 5,108 6,558
Haringey Council 75 731 - 806
Arts Council of England 6,146 - - 6,146
Donations 4,471 - - 4,471
Interest received 106 - - 106
Other income 1,050 750 - 1,800
LGBT Consortium - Fees earned 25 - - 25
Haringey - VCS Autumn 3,000 - - 3,000
Charity Trust 1,000 - - 1,000
26,005 (7,201) 5,108 23,912
Restricted funds
Arts Council Managed Funds-Gaywise
LGBT arts festival - 32,091 - 32,091
Other donations 1,447 - - 1,447
Haringey CCCF Core 6,645 - - 6,645
The National Lottery Community Fund 4,847 12,840 - 17,687
Haringey Council (3,345) - - (3,345)
John Lyon's Foundation 504 - - 504
Bridge Renewal Trust 3,699 - - 3,699
London Sport Ltd Sportivate (90) 2,920 - 2,830
The London Community Foundation
3,814 17,530 - 21,344
Merkel Insurance 1,183 - - 1,183
Neighbourly Ltd 300 - - 300
Homes for Haringey 4,050 - - 4,050
Creative Cultural Hub (1,061) 2,632 - 1,571
Emerging with Pride - 17,000 - 17,000
Jackson's Lane 970 - - 970
Public Voice 1 19,134 (1,914) 17,221
Arts Council of England - Organisation
Development / ACTivate Our Future - - (28,123) (28,123)
LGBT Consortium - Emerging With Pride 33 10,000 (29,600) (19,567)
Haringey - Winter and Youthwise (3,201) (57,328) 54,529 (6,000)
City of London WAVE 3 - WISEfriends 94 - - 94
Sports England - Lunchtime Yoga
1,200 - - 1,200
City Bridge Trust - COVID-19 - 4,257 - 4,257
21,090 61,076 (5,108) 77,058
TOTAL FUNDS 47,095 53,875 - 100,970

Page 15

continued...

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

11. MOVEMENT IN FUNDS - continued

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

Unrestricted funds
General fund
Haringey Council
Other income
Restricted funds
Arts Council Managed Funds-Gaywise
LGBT arts festival
The National Lottery Community Fund
Haringey Council
London Sport Ltd Sportivate
The London Community Foundation
Creative Cultural Hub
Emerging with Pride
Public Voice
LGBT Consortium - Emerging With Pride
Haringey - Winter and Youthwise
City Bridge Trust - COVID-19
TOTAL FUNDS		 Incoming
resources
£
2,047
730
750
3,527
15,863
88,520
6,250
2,920
2,530
2,632
-
21,719
10,000
-
4,257
154,691
158,218		 Resources
Movement
expended
in funds
£
£
(10,729)
(8,682)
1
731
-
750
(10,728)
(7,201)
16,228
32,091
(75,680)
12,840
(6,250)
-
-
2,920
15,000
17,530
-
2,632
17,000
17,000
(2,585)
19,134
-
10,000
(57,328)
(57,328)
-
4,257
(93,615)
61,076
(104,343)
53,875

Page 16

continued...

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

11. MOVEMENT IN FUNDS - continued

Comparatives for 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 17

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

11. MOVEMENT IN FUNDS - continued

Comparative 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 18

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

11. MOVEMENT IN FUNDS - continued

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

Net Transfers
movement between At
At 1.4.21 in funds funds 31.3.23
£ £ £ £
Unrestricted funds
General fund 8,346 (6,896) 5,108 6,558
Haringey Council 75 731 - 806
Arts Council of England 6,146 - - 6,146
Donations 4,471 - - 4,471
Interest received 106 - - 106
Other income - 1,800 - 1,800
LGBT Consortium - Fees earned 25 - - 25
Haringey - VCS Autumn 3,000 - - 3,000
Charity Trust - 1,000 - 1,000
22,169 (3,365) 5,108 23,912
Restricted funds
Arts Council Managed Funds-Gaywise
LGBT arts festival - 32,091 - 32,091
Other donations 1,447 - - 1,447
Haringey CCCF Core 4,884 1,761 - 6,645
The National Lottery Community Fund 4,847 12,840 - 17,687
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) 2,920 - 2,830
The London Community Foundation
1,071 20,273 - 21,344
Merkel Insurance 1,183 - - 1,183
Neighbourly Ltd 300 - - 300
Homes for Haringey - 4,050 - 4,050
Creative Cultural Hub (3,429) 5,000 - 1,571
Emerging with Pride - 17,000 - 17,000
Jackson's Lane 970 - - 970
Public Voice - 19,135 (1,914) 17,221
Arts Council of England - Organisation
Development / ACTivate Our Future - - (28,123) (28,123)
LGBT Consortium - Emerging With Pride 33 10,000 (29,600) (19,567)
Haringey - Winter and Youthwise 1,000 (61,529) 54,529 (6,000)
City of London WAVE 3 - WISEfriends 94 - - 94
Sports England - Lunchtime Yoga
1,200 - - 1,200
City Bridge Trust - COVID-19 - 4,257 - 4,257
17,434 64,732 (5,108) 77,058
TOTAL FUNDS 39,603 61,367 - 100,970

continued...

Page 19

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

11. 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
Haringey Council
Other income
Charity Trust
Restricted funds
Arts Council Managed Funds-Gaywise
LGBT arts festival
Haringey CCCF Core
The National Lottery Community Fund
Haringey Council
London Sport Ltd Sportivate
The London Community Foundation
Homes for Haringey
Creative Cultural Hub
Emerging with Pride
Public Voice
LGBT Consortium - Emerging With Pride
Haringey - Winter and Youthwise
City of London WAVE 3 - WISEfriends
City of London - WAVE 4 - ACTivate Our
Future
City Bridge Trust - COVID-19
TOTAL FUNDS		 Incoming
resources
£
9,259
730
1,800
1,000
12,789
15,863
19,999
158,234
33,450
2,920
6,130
4,050
2,632
-
71,269
10,000
-
9,300
9,115
4,257
347,219
360,008		 Resources
Movement
expended
in funds
£
£
(16,155)
(6,896)
1
731
-
1,800
-
1,000
(16,154)
(3,365)
16,228
32,091
(18,238)
1,761
(145,394)
12,840
(36,516)
(3,066)
-
2,920
14,143
20,273
-
4,050
2,368
5,000
17,000
17,000
(52,134)
19,135
-
10,000
(61,529)
(61,529)
(9,300)
-
(9,115)
-
-
4,257
(282,487)
64,732
(298,641)
61,367

continued...

Page 20

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

12. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2023.

13. 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 21

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

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
Subscriptions
Administration expenses
Training
Depreciation of Plant & machinery
Depreciation of Fixtures & fittings
Depreciation of Computer equipment
Support costs
Governance costs
Accountancy fees
Total resources expended
Net income		 2023
£
121,719
1,907
22,451
11,250
157,327
750
141
158,218
-
-
-
444
636
84,780
7,500
355
35
396
3,500
2,606
341
47
223
100,863
3,480
104,343
53,875		 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
3,240
194,298
7,492

This page does not form part of the statutory financial statements

Page 22

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 2023

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 2023

Page
Report of the Trustees 1 to 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Statement of Financial Position 9 to 10
Notes to the Financial Statements 11 to 21
Detailed Statement of Financial Activities 22

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

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 2023. 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).

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, Human Immunodeficiency Virus/Acquired Immune Deficiency Syndrome (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 HIV/AIDS 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.

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 1

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

OBJECTIVES AND ACTIVITIES Significant activities

Significant Activities delivered under Wise Thoughts arts programme included:

  1. Commissioning artists to create new works that are showcased on the organisation's website site, YouTube and other social media channels.

  2. Working in partnership with other UK and India based organisations to conduct initial research and development for three new multimedia arts projects and deliver arts workshops outside London.

  3. Artists talks, performances and readings as a part of the weekly drop-in's and during South Asian Heritage, Black and LGBTQI+ History Months.

  4. South Asian dance and visual arts workshops in East Anglia region as a part of our expansion programme.

  5. South Asian dance workshops for young people in Haringey in partnership with Haringey Youth Services.

Activities delivered under the Wise Thoughts health and wellbeing programme included:

  1. LGBTQI+ meetups #gayWISE and #womxnWISE held online and onsite post the lifting of restrictions.

  2. Weekly yoga and dance sessions to support both physical and mental wellbeing of both existing and new service users.

  3. PositiveRainbowHaringey - a peer support and advice service for HIV+ gay, bisexual and Men who have Sex with Men (MSM) and their partners. Advice and 1-2-1 support were offered via a weekly health stall, telephone and online.

  4. Consultation - providing advice on inclusion of LGBTQI+/ BAME communities processes for both local and regional authorities.

  5. Provided temporary freelance employment opportunities for unemployed people to help develop and deliver new initiatives.

  6. Delivered yoga sessions for young people. at Rising Green youth Hub as part of the summer activities programme for London Borough of Haringey.

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 2

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

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, Haringey Council, other organisations and donors.

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.

Review of transactions, financial performance and funds

As shown in the Statement of Financial Activities (page 9) total income for the year to 31 March 2023 amounted to £158,218 (2022 - £201,790) and expenditure in the furtherance of charitable activities totalled £104,343 (2022 - £194,298). 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 £53,875 (2022 - £7,492).

Awards totalling £Nil (2022 - £91,519) 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 and other charitable bodies and individual donors.

Total net assets of the charity as at 31 March 2023 were £100,970 (2022 - £47,095). 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.

Page 3

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

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.

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 National Council of Voluntary Organisations (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.

Page 4

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT

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.

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 Mr Sakib Khan Ms Katie Wood

Company Secretary

Ms Bhavini Chavda - Chair

Independent Examiner

Mr Michael Filiou 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 5

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

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 29 September 2023 and signed on its behalf by:

Ms Bhavini Chavda - Chair - Trustee

Page 6

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 2023.

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

  3. 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

  4. 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

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

29 September 2023

Page 7

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
2,636
Other activities income
3
750
Investment income
4
141
Total
3,527
EXPENDITURE ON
Charitable activities
Gross salary
-
Project costs
-
Charitable activities
3,496
Employer's NI
-
Rent
1,250
Travel and subsistence
355
Telephone
636
Insurance
444
Sundry expenses
-
Depreciation
611
Professional services
35
Subscriptions
396
Accountancy fees
3,480
Creative Cultural Hub
-
Training costs
25
Employer pension
-
Total
10,728
NET INCOME/(EXPENDITURE)
(7,201)
Transfers between funds
11
5,108
Net movement in funds
(2,093)
RECONCILIATION OF FUNDS
Total funds brought forward
26,005
TOTAL FUNDS CARRIED FORWARD
23,912		 Restricted
funds
£
154,691
-
-
154,691
-
9,387
-
-
6,250
-
-
-
-
-
-
-
-
75,393
2,585
-
93,615
61,076
(5,108)
55,968
21,090
77,058		 2023
Total
funds
£
157,327
750
141
158,218
-
9,387
3,496
-
7,500
355
636
444
-
611
35
396
3,480
75,393
2,610
-
104,343
53,875
-
53,875
47,095
100,970		 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
-
7,492
39,603
47,095

The notes form part of these financial statements

Page 8

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL POSITION 31 MARCH 2023

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
9
2,561
CURRENT ASSETS
Cash at bank
22,578
CREDITORS
Amounts falling due within one year
10
(1,227)
NET CURRENT ASSETS
21,351
TOTAL ASSETS LESS CURRENT
LIABILITIES
23,912
NET ASSETS
23,912
FUNDS
11
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
funds
£
2,719
76,477
(2,138)
74,339
77,058
77,058		 2023
Total
funds
£
5,280
99,055
(3,365)
95,690
100,970
100,970
23,912
77,058
100,970		 2022
Total
funds
£
5,891
140,723
(99,519)
41,204
47,095
47,095
26,005
21,090
47,095

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 9

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL POSITION - continued 31 MARCH 2023

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 29 September 2023 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 10

(A COMPANY LIMITED BY GUARANTEE)

WISE THOUGHTS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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.

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.

Plant and machinery - at variable rates on reducing balance Fixtures and fittings - 10% on reducing balance Computer equipment - 20% on reducing balance

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.

continued...

Page 11

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

2. DONATIONS AND LEGACIES

Voluntary grants income
Donations
Grants
Subsidy towards rent
Grants received, included in the above, are as follows:
Other grants		 2023
£
121,719
1,907
22,451
11,250
157,327
2023
£
22,451		 2022
£
106,236
5,204
72,149
2,500
186,089
2022
£
72,149

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.

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		 2023
£
750
2023
£
141
2023
£
611		 2022
£
15,650
2022
£
51
2022
£
704

continued...

Page 12

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.

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

7. STAFF COSTS

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

8.

Full time
No employees received emoluments in excess of £60,000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
8,161
Other activities income
1,050
Investment income
51
Total
9,262
EXPENDITURE ON
Charitable activities
Gross salary
-
Project costs
-
Employer's NI
-
Rent
-
Telephone
372
Insurance
448
Sundry expenses
212
Depreciation
704
Professional services
450
Accountancy fees
3,240
Training costs
-
Employer pension
-
Total
5,426
NET INCOME
3,836		 2023
-
Restricted
funds
£
177,928
14,600
-
192,528
45,772
131,718
275
7,500
-
-
-
-
-
-
2,550
1,057
188,872
3,656		 2022
2
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

continued...

Page 13

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

8.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
funds
funds
£
£
RECONCILIATION OF FUNDS
Total funds brought forward
22,169
17,434
TOTAL FUNDS CARRIED FORWARD
26,005
21,090
9.
TANGIBLE FIXED ASSETS
Fixtures
Plant and
and
Computer
machinery
fittings
equipment
£
£
£
COST
At 1 April 2022 and 31 March 2023
24,370
3,964
15,087
DEPRECIATION
At 1 April 2022
20,063
3,494
13,973
Charge for year
341
47
223
At 31 March 2023
20,404
3,541
14,196
NET BOOK VALUE
At 31 March 2023
3,966
423
891
At 31 March 2022
4,307
470
1,114
All of the charity's tangible fixed assets are used directly for its objectives.
10.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023
£
Trade creditors
365
Accruals and deferred income
3,000
3,365		 Total
funds
£
39,603
47,095
Totals
£
43,421
37,530
611
38,141
5,280
5,891
2022
£
5,000
94,519
99,519

continued...

Page 14

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

11. MOVEMENT IN FUNDS

Net Transfers
movement between At
At 1.4.22 in funds funds 31.3.23
£ £ £ £
Unrestricted funds
General fund 10,132 (8,682) 5,108 6,558
Haringey Council 75 731 - 806
Arts Council of England 6,146 - - 6,146
Donations 4,471 - - 4,471
Interest received 106 - - 106
Other income 1,050 750 - 1,800
LGBT Consortium - Fees earned 25 - - 25
Haringey - VCS Autumn 3,000 - - 3,000
Charity Trust 1,000 - - 1,000
26,005 (7,201) 5,108 23,912
Restricted funds
Arts Council Managed Funds-Gaywise
LGBT arts festival - 32,091 - 32,091
Other donations 1,447 - - 1,447
Haringey CCCF Core 6,645 - - 6,645
The National Lottery Community Fund 4,847 12,840 - 17,687
Haringey Council (3,345) - - (3,345)
John Lyon's Foundation 504 - - 504
Bridge Renewal Trust 3,699 - - 3,699
London Sport Ltd Sportivate (90) 2,920 - 2,830
The London Community Foundation
3,814 17,530 - 21,344
Merkel Insurance 1,183 - - 1,183
Neighbourly Ltd 300 - - 300
Homes for Haringey 4,050 - - 4,050
Creative Cultural Hub (1,061) 2,632 - 1,571
Emerging with Pride - 17,000 - 17,000
Jackson's Lane 970 - - 970
Public Voice 1 19,134 (1,914) 17,221
Arts Council of England - Organisation
Development / ACTivate Our Future - - (28,123) (28,123)
LGBT Consortium - Emerging With Pride 33 10,000 (29,600) (19,567)
Haringey - Winter and Youthwise (3,201) (57,328) 54,529 (6,000)
City of London WAVE 3 - WISEfriends 94 - - 94
Sports England - Lunchtime Yoga
1,200 - - 1,200
City Bridge Trust - COVID-19 - 4,257 - 4,257
21,090 61,076 (5,108) 77,058
TOTAL FUNDS 47,095 53,875 - 100,970

Page 15

continued...

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

11. MOVEMENT IN FUNDS - continued

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

Unrestricted funds
General fund
Haringey Council
Other income
Restricted funds
Arts Council Managed Funds-Gaywise
LGBT arts festival
The National Lottery Community Fund
Haringey Council
London Sport Ltd Sportivate
The London Community Foundation
Creative Cultural Hub
Emerging with Pride
Public Voice
LGBT Consortium - Emerging With Pride
Haringey - Winter and Youthwise
City Bridge Trust - COVID-19
TOTAL FUNDS		 Incoming
resources
£
2,047
730
750
3,527
15,863
88,520
6,250
2,920
2,530
2,632
-
21,719
10,000
-
4,257
154,691
158,218		 Resources
Movement
expended
in funds
£
£
(10,729)
(8,682)
1
731
-
750
(10,728)
(7,201)
16,228
32,091
(75,680)
12,840
(6,250)
-
-
2,920
15,000
17,530
-
2,632
17,000
17,000
(2,585)
19,134
-
10,000
(57,328)
(57,328)
-
4,257
(93,615)
61,076
(104,343)
53,875

Page 16

continued...

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

11. MOVEMENT IN FUNDS - continued

Comparatives for 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 17

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

11. MOVEMENT IN FUNDS - continued

Comparative 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 18

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

11. MOVEMENT IN FUNDS - continued

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

Net Transfers
movement between At
At 1.4.21 in funds funds 31.3.23
£ £ £ £
Unrestricted funds
General fund 8,346 (6,896) 5,108 6,558
Haringey Council 75 731 - 806
Arts Council of England 6,146 - - 6,146
Donations 4,471 - - 4,471
Interest received 106 - - 106
Other income - 1,800 - 1,800
LGBT Consortium - Fees earned 25 - - 25
Haringey - VCS Autumn 3,000 - - 3,000
Charity Trust - 1,000 - 1,000
22,169 (3,365) 5,108 23,912
Restricted funds
Arts Council Managed Funds-Gaywise
LGBT arts festival - 32,091 - 32,091
Other donations 1,447 - - 1,447
Haringey CCCF Core 4,884 1,761 - 6,645
The National Lottery Community Fund 4,847 12,840 - 17,687
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) 2,920 - 2,830
The London Community Foundation
1,071 20,273 - 21,344
Merkel Insurance 1,183 - - 1,183
Neighbourly Ltd 300 - - 300
Homes for Haringey - 4,050 - 4,050
Creative Cultural Hub (3,429) 5,000 - 1,571
Emerging with Pride - 17,000 - 17,000
Jackson's Lane 970 - - 970
Public Voice - 19,135 (1,914) 17,221
Arts Council of England - Organisation
Development / ACTivate Our Future - - (28,123) (28,123)
LGBT Consortium - Emerging With Pride 33 10,000 (29,600) (19,567)
Haringey - Winter and Youthwise 1,000 (61,529) 54,529 (6,000)
City of London WAVE 3 - WISEfriends 94 - - 94
Sports England - Lunchtime Yoga
1,200 - - 1,200
City Bridge Trust - COVID-19 - 4,257 - 4,257
17,434 64,732 (5,108) 77,058
TOTAL FUNDS 39,603 61,367 - 100,970

continued...

Page 19

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

11. 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
Haringey Council
Other income
Charity Trust
Restricted funds
Arts Council Managed Funds-Gaywise
LGBT arts festival
Haringey CCCF Core
The National Lottery Community Fund
Haringey Council
London Sport Ltd Sportivate
The London Community Foundation
Homes for Haringey
Creative Cultural Hub
Emerging with Pride
Public Voice
LGBT Consortium - Emerging With Pride
Haringey - Winter and Youthwise
City of London WAVE 3 - WISEfriends
City of London - WAVE 4 - ACTivate Our
Future
City Bridge Trust - COVID-19
TOTAL FUNDS		 Incoming
resources
£
9,259
730
1,800
1,000
12,789
15,863
19,999
158,234
33,450
2,920
6,130
4,050
2,632
-
71,269
10,000
-
9,300
9,115
4,257
347,219
360,008		 Resources
Movement
expended
in funds
£
£
(16,155)
(6,896)
1
731
-
1,800
-
1,000
(16,154)
(3,365)
16,228
32,091
(18,238)
1,761
(145,394)
12,840
(36,516)
(3,066)
-
2,920
14,143
20,273
-
4,050
2,368
5,000
17,000
17,000
(52,134)
19,135
-
10,000
(61,529)
(61,529)
(9,300)
-
(9,115)
-
-
4,257
(282,487)
64,732
(298,641)
61,367

continued...

Page 20

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

12. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2023.

13. 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 21

WISE THOUGHTS (A COMPANY LIMITED BY GUARANTEE)

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

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
Subscriptions
Administration expenses
Training
Depreciation of Plant & machinery
Depreciation of Fixtures & fittings
Depreciation of Computer equipment
Support costs
Governance costs
Accountancy fees
Total resources expended
Net income		 2023
£
121,719
1,907
22,451
11,250
157,327
750
141
158,218
-
-
-
444
636
84,780
7,500
355
35
396
3,500
2,606
341
47
223
100,863
3,480
104,343
53,875		 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
3,240
194,298
7,492

This page does not form part of the statutory financial statements

Page 22