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2023-12-31-accounts

HOGARTH CHARITABLE TRUST COMPANY LIMITED

(A Company limited by guarantee) Company No. 4000559

A REGISTERED CHARITY No. 1084019

Report and Financial Statements For the 12-month period ended 31 December 2023

HOGARTH CHARITABLE TRUST COMPANY LIMITED

REPORT AND ACCOUNTS For the 12-month period ended 31 December 2023

CONTENTS

Page(s)
Introduction 3 - 4
Chair Person’s Statement 5 - 14
Charity’s Risk Register 15 - 19
Directors’ Report 20 - 21
Report of the Independent Examiner 22
Statement of Financial Activities 23
Balance Sheet 24
Notes to the Accounts 25 - 31

HOGARTH CHARITABLE TRUST COMPANY LIMITED

Report for the 12-month period ended 31 December 2023

INTRODUCTION

Charitable Status

The Hogarth Charitable Trust Company Limited (the “Charity”) is a UK private company limited by guarantee without share capital, number 4000559 and a registered charity, number 1084019.

Registered Office and Principal Address

Hogarth Youth & Community Centre (the “Centre”) Duke Road London W4 2JR

Bankers

HSBC Bank plc 281 Chiswick High Road London W4 4HJ

Independent Examiner

Colin Airey FCCA – George Hay Chartered Accountants Brigham House High Street, Biggleswade Bedfordshire SG18 0LD

Solicitor (Honorary)

Jonathan Walsh – Sutton-Mattocks & Co LLP 5 Castle Row Horticultural Place Chiswick, London W4 4JQ

Governing Documents

The provisions regulating the purposes and administration of the charity are governed by the Memorandum and Articles of Association of the limited company.

Nature of business

Standard Industrial Classification Code (“SIC”) 88990 - Other social work activities without accommodation not elsewhere classified.

Directors and Trustees

The following individuals served as Directors and Trustees during the period ending 31[st] Dec 2023:

Director & Trustee

Date of Appointment

Fred Lucas (Chair) 30[th] January 2012 Jonathan Walker 4[th] February 2020 Anthony Bowden 10[th] November 2022 Jeannetta Orton 3[rd] May 2023

HOGARTH CHARITABLE TRUST COMPANY LIMITED

Report for the 12-month period ended 31 December 2023 (continued)

During the period ending 31[st] December 2023, no Trustee received nor waived any remuneration, benefits or expenses (2022 - Nil).

Trustee meetings occurred five times during this twelve month period on the following dates:

25[th] January 2023 20[th] April 2023 13[th] July 2023 26[th] October 2023 7[th] December 2023

During the year, the search for new Trustees resulted in the appointment of Jeannetta Orton on 3[rd] May 2023. She is the Company’s thirteenth Director since its incorporation on 24[th] May 2000. The names of all prior Directors of the Company are listed below.

  1. Timothy John Knight Oakley was a Director from 24[th] May 2000 until 5[th] December 2013.

  2. Catherine Mary Williams was a Director from 24[th] May 2000 until 7[th] September 2011.

  3. Paul Eric Clampin was a Director from 20[th] November 2006 until 7[th] September 2011.

  4. David Neil Bentley QC was a Director from 1[st] September 2009 until 5[th] December 2013.

  5. Paul Clabburn was a Director from 27[th] September 2012 until 22[nd] November 2013.

  6. Patrick Brougham was a Director from 8[th] October 2012 until 30[th] September 2019.

  7. Basil George Fraser was a Director from 26[th] February 2012 until 9[th] April 2021.

  8. Pam Frances Morrow was a Director from 24[th] July 2020 until 2[nd] February 2021.

  9. Raj Parkash was a Director from 16[th] September 2021 until 24[th] October 2022.

  10. 4 -

HOGARTH CHARITABLE TRUST COMPANY LIMITED

Report for the 12-month period ended 31 December 2023 (continued)

CHAIR’S STATEMENT

This is my fifth annual statement as Chair of the Board of Trustees. It is addressed to all stakeholders in the Charity. The period under review in this report marks the fifth full year of the Charity funding and delivering the Youth Programme independently from the London Borough of Hounslow.

2023 strategic and operational priorities – progress report

I report on the progress made on the key strategic and operational priorities which I set out in my statement in the 2022 Report & Accounts.

Charity’s rolling objectives

  1. To maintain the highest standards of safeguarding, thus strengthening the Charity’s reputation as one which gives unwavering and absolute priority to the protection of young people. I am pleased to report that there were no safeguarding incidents during 2023. I believe that this reflects the absolute priority given to safeguarding and the unwavering efforts made by all youth workers, centre staff and trustees to remain ever vigilant and to embed safeguarding as a core part of the Charity’s culture. Safeguarding is a standing agenda item at meetings of trustees and is also addressed in every monthly report from both the Youth Officer and Centre Manager. In 2023 all trustees and the Centre Manager successfully completed the NSPCC’s training course. As a Trustee, Jeannetta Orton kindly agreed to assume specific board responsibilities for safeguarding. During the year, in order to enhance the protection of safeguarded zones for young people we added new coded doors in the Centre, improved fire doors and a new security gate in our courtyard. Safeguarding related building refurbishment remains a priority.

  2. To protect all of the Charity’s resources, financial and other, minimising operating waste and inefficiencies wherever possible. Utilities, specifically gas and electricity, are the Charity’s largest single cost category after staff costs. Working with the Centre Manager, the Charity secured new 12-month lower cost contracts with credit worthy suppliers of gas (TOTAL) and electricity (Scottish Power) which commenced in January and April 2024 respectively. In 2023 the Charity also secured a material VAT rebate from its water supplier, Castle Water. Unfortunately, the Centre continues to suffer from poor insulation due to old, single pane windows. As part of our lease renewal negotiations, we are working with LBH to secure funding to replace the Centre’s windows with new double pane PVC-framed windows.

  3. To review and update as appropriate the Charity’s three key policy documents related to Diversity, Health & Safety and Safeguarding, ensuring full compliance . These documents are periodically reviewed by trustees and senior members of staff and updated appropriately. The Charity continues to build the diversity of its trustees and staff to reflect better the profile of young people that it serves.

  4. 5 -

HOGARTH CHARITABLE TRUST COMPANY LIMITED

Report for the 12-month period ended 31 December 2023 (continued)

Charity’s rolling objectives (continued)

  1. To continue to improve organisational culture and transparency, relying on the Charity’s culture carriers to act inclusively with empathy and energy. All trustees and members of staff are key culture carriers. In any given year the Charity relies on license fees from around one dozen regular and 50-60 short term licensees. Every effort is made with both cohorts as well as all suppliers who visit the Centre to reinforce our culture and values, prioritising safeguarding and safe activities at all times. Further efforts were made during the year to encourage long term licensees to work with the young people attending the youth programme. There is still more work to be done to unify the community centre activities and the Youth Programme.

Charity’s 2023 objectives

  1. To grow the population of young people attending our Youth Programme with a particular focus on building the cohort of young people aged 13 to 18 years whilst continuing to build the total young person attendance frequency to over 5,000, by increasing our outreach efforts and improving the appeal and relevance of PROJECT 2023, so preparing the ground to apply for the Gold Quality Mark with London Youth. Our outreach efforts were materially increased during 2023 forming stronger working partnerships with Bolder Academy, Cavendish Primary School, Chiswick House & Gardens, Chiswick School and Dukes Meadows Trust. In September 2023, the Youth Team began a six month project of mentoring and support for young people in Years 7, 8 and 9 at Chiswick School called Get Off The Fence . Our Summer Holiday Programme in July and August was expanded to 5-day weeks (a total of 19 days vs 16 days) and we took 27 young people on the Isle Of Wight Residential (vs. 18 in 2022 and 12 in 2021). In all, our Summer Programme served over 200 young people who attended 950 times, a similar level of participation to 2022. Notwithstanding the aformentioned efforts and encouraging holiday participation rates, for the full year total attendances of 3,447 were 5% lower than 2022 and clearly some way below our target of more than 5,000 attendances which remains one of our key targets.

  2. To build key stakeholder relationships, especially with local busineses, schools and other Youth Clubs near to the Centre. We have continued to build our network of Friends of the Hogarth which at year end 2023 numbered over 300 individuals. This network includes many local residents and representatives from local businesses, schools and other youth clubs. As trustee, in October 2023 Tony Bowden kindly agreed to assume specific board responsibilities for fund raising. Tony has started to approach local businesses with a view to building a portfolio of local sponsors in order to reduce our annual structural funding deficit. As a welcome initiative of Sally Chacatte (W4 Youth Hub), in May 2023 we hosted the first meeting of representatives from other youth clubs in the area to encourage sharing of best practice and information on the various programmes offered. The young people made two visits to Chiswick House & Gardens and in May they completed an art project which formed part of the Black Chiswick through History 2023 project.

  3. 6 -

HOGARTH CHARITABLE TRUST COMPANY LIMITED

Report for the 12-month period ended 31 December 2023 (continued)

Charity’s 2023 objectives (continued)

  1. To maximise the social value generated by the Centre’s operations by providing more free space, if not licensed, to help a diverse range of disadvantaged groups, thus building the Charity’s broader social purpose and relevance. If the Centre has idle, unused space, it may be offered to other charities without charge. We continue to give the café and lower hall to Hogarth Gateway, a charity working with mentally disabled young adults. Every Friday evening they bring 30-40 people to the Centre to enjoy its facilities. We also worked with West London Welcome to provide a meeting space for refugees to the UK who were being temporarily housed by the government in Chiswick. This initiative ceased when the government moved the refugees away from accommodation in Chiswick to other areas.

4. To host at least one successful fund raising event with a target fund raise of £10,000 to support an expansion of PROJECT 2023’s Summer Programme, that builds our network of Friends of the Hogarth and extends our list and deepens our relationships with local residents and multiple sponsoring organisations. On a gloriously sunny evening, wine expert Tim Syrad hosted a joyous fourth wine tasting at the Centre on 13[th] June. The evening was sponsored by six local companies (Analytical People, Bown Design & Build, Cornel Lucas Collection, Helicon Health, King’s Tennis Centre and Whitman & Co.) and was attended by 55 people, primarily local residents. Seat sales (£3,147), multiple donations (£775), a blind auction for a VIP dinner at La Trompette (£500), raffle ticket sales (98 sold for £980) and the aforementioned sponsorships (£3,700) raised £8,649 after costs for the Summer 2023 Holiday Programme, enabling us to expand the number of Residential attendees from 18 to 27. Once again we thank all participants and our host Tim Syrad for their generosity and support.

  1. To continue to apply for multiple local grants to raise more than £10,000 for PROJECT 2023. We applied for and received five grants during 2023: Your Neighbourhood (Councillor Peter Thompson), Thriving Communities Revenue Fund (LBH) and three separate grants from the Hounslow Holiday Activities and Food Fund (HAF). Total grants received in 2023 from LBH which were ring-fenced for Project 2023 were £29,312, thus surpassing our target. An additional grant of £1,000 was also received for general Centre refurbishment.

  2. To generate total license fees of at least £160,000 in 2023 without incurring any bad debtors whilst ensuring that all licensee payments are via bank transfer only . License fees in 2023 increased 13% to £159,381 which is just shy of our target for the year of £160,000. License fees were paid by six long term licensees, eight repeat licensees and 46 ad hoc users of the Centre’s halls and cafe. Ad hoc licensee activities in 2023 were very diverse and included the following: an art club, baking and cookery lessons, birthday parties for children and adults, Chinese language tuition, an Eid party, self-defence classes, steel drum rehearsals (Stardust Youth Orchestra), a student film shoot, theatre rehearsals and wedding celebrations. All license fees were paid via bank transfer, thus reducing the amount of cash held at the Centre at any given time. Once again the Charity did not incur any bad debtors.

  3. 7 -

HOGARTH CHARITABLE TRUST COMPANY LIMITED

Report for the 12-month period ended 31 December 2023 (continued)

Charity’s 2023 objectives (continued)

  1. To continue to build awareness of the Centre’s available space and activities through more effective use of social media platforms and search engines and by improving the Charity’s website to maximise the Centre’s space utilisation and revenue efficiency whilst increasing the cross-fertilisation between licensed activities and our Youth Programme. In mid-2023, we initiated the design and construction of a more informative and more user friendly website. This has taken longer than expected with completion due by mid-2024. The new website will include Google Analytics which will enable us to analyse and better understand our website traffic. Our use of social media platforms remained constrained by safeguarding concerns. During the holiday programmes in 2023, licensee Chiswick Boxing gave free training classes to young people.

  2. To progress negotiations with our landlord, the London Borough of Hounslow, for (i) a new long-term lease on the building on terms which do not compromise our ability to sustain a vibrant youth service and socially valued community centre over the full duration of our new lease; (ii) replacement windows for the Centre to improve the building’s thermal efficiency. Understandably given the complexities, this specific journey has been a long and at times frustrating one, but I am very pleased to report that LBH has offered the Charity a new 15 year lease to start when our current lease ends in November 2024. Negotiations with LBH have built positive momentum following a meeting in December. Importantly, we are now hopeful that as part of their obligations under the new lease, LBH will agree to replace our windows and make various repairs to our the building’s guttering and roofing soon after the new lease commences. This will leave the Charity with a manageable obligation to continue to maintain the interior of the building. Our new long-term lease will provide much needed security to all our staff and licensees. It will encourage corporate sponsors and donors who prize sustainability and it will also facilitate grant applications since most grant providers require secure tenancy of at least three to five years.

  3. To minimise the Charity’s environmental footprint by minimising all waste, but specifically single use plastic and unnecessary heating and lighting. Our gas central heating needs are essentially driven by outside temperatures during the autumn and winter and exacerbated by heat loss through our old windows. The Charity’s gas boiler, although replaced in 2019, did not operate very efficiently during the fourth quarter of 2023. In early 2024, we therefore replaced several parts which has since resulted in better heating throughout the building. Licensees are reminded to switch off lighting when leaving their spaces.

  4. To recruit a fourth Trustee and so continue to build the skills and diversity of the Board of Trustees and deepen the charity’s overall execution capabilities. We successfully recruited a fourth trustee, Jeannetta Orton, who joined the board as a director in May 2023. Jeannetta is a local resident and has very valuable career experience in property law. We ended the year with four Trustees, thus achieving our objective.

  5. 8 -

HOGARTH CHARITABLE TRUST COMPANY LIMITED

Report for the 12-month period ended 31 December 2023 (continued)

The Youth Programme – PROJECT 2023

In 2023, the Youth Team successfully delivered the programme comprising 194 days of uninterrupted service vs. 190 days in 2022. Youth programme attendances decreased by 5% to 3,447 (2022 3,629). The first chart below shows monthly participation data (bars) and the 12-month trailing average (line) from 2017-2023 and therefore includes two years prior to the Charity taking on full responsibility for the youth programme at the start of 2019. The trailing average started to recover in late 2023 and has continued on this upward trend in 2024, reflecting the impact of increased outreach efforts and the gradual return to pre-Covid routines.

Per the second chart, the trailing average number of individual attendees also continued to build during 2023, returning to the pre-COVID levels in 2019 of approximately 100 individuals per month. In 2023, more than 350 young people attended PROJECT 2023.

HOGARTH CHARITABLE TRUST COMPANY LIMITED

Report for the 12-month period ended 31 December 2023 (continued)

The Youth Programme – PROJECT 2023 (continued)

The budgeted cost of Project 2023 was £122,833. As in prior years, this figure excludes any share of Centre overheads or running costs. The programme was delivered at a total cost of £144,281. The 18% negative cost variance of £21,448 was primarily due to two factors: (i) the holiday programmes required more hours worked by more support youth workers; and (ii) to support the Get Off The Fence Project with Chiswick School, we also upgraded our sound studio system at a cost of £5,400. The Summer Residential returned to the Isle of Wight - 27 young people were taken away which is 50% more than 2022 and 125% more than 2021. This required eight youth workers and three minibuses. In all, our Summer Programme served over 200 young people who attended 950 times, a similar level of participation to 2022. In 2023 the cohort of support youth workers was further expanded by the Youth Officer to 21 people of which 15 were called upon and paid during the year. The Charity continues to build the next generation of youth workers. HAF grants enabled us to provide hot and nutritious food to our holiday programme attendees. Our free meals commitment ensured that hundreds of young people were well-nourished throughout all five of our holiday programmes which ran for 37 days. In August we received an unannounced Council inspection because we prepare food onsite. Their report graded our provision of service to be the highest standard of EXCELLENT which is a strong endorsement of the professionalism of our youth team.

Internal stakeholder engagement

A Licensee Forum meeting was established in 2019 in order to strengthen communications amongst licensees. One such meeting was held at the Centre on 21[st] February 2023 and was attended by many licensees, trustees, the Centre Manager and the Youth Officer. These meetings continue to be a very useful, open format for licensees to raise issues and to suggest improvements to the Centre’s operations and to learn about developments and initiatives at the Centre. Ad hoc e-mails were also sent to all licensees by the Centre Manager on behalf of the Board of Trustees updating licensees on fund raising initiatives, Centre maintenance priorities, the appointment of new trustees and reminding them about safeguarding protocols. The relationship between the Board of Trustees and the Centre’s cohort of licensees remained constructive and professional throughout 2023. The Centre Manager also communicated directly with licensees regularly via a WhatsApp group.

Centre Operations

Dani Karas successfully completed her third year as Centre Manager and continued to have a very positive impact on all aspects of Centre operations including helping to build valuable synergies with the Youth Programme. A total of 14 long-term and 46 short-term licensees paid to use the Centre during 2023 thus continuing to increase overall space utilisation. Full year license fees increased by 13% with zero bad debtors for a third year. Per the chart below, licensee fees during 2023 reached a record for the Charity. Notwithstanding over £10,000 spent on maintenance and much higher utility costs, a tight hand on all controllable costs meant that the cash generated by the Centre exceeded its running costs. As a result, at the end of December £65,000 was transferred from the Centre Operations Account to the Youth Account to enable the Youth Programme to start PROJECT 2024 with a healthy cash balance of almost £92,000. A £1,000 grant from LBH part-funded the refurbishment of our courtyard which was completed in early September. New tables, seating, lighting and flooring were installed by Meredydd Howells, our super-capable maintenance provider, to make this a much more welcoming space for all users and enhance the Centre’s appeal as a community asset.

HOGARTH CHARITABLE TRUST COMPANY LIMITED

Report for the 12-month period ended 31 December 2023 (continued)

Governance

How the organisation is structured and steered is ultimately the responsibility of the Board of Trustees. Since assuming responsibility for the youth service at the start of 2019, those responsibilities have increased and changed materially. Denny Anthony is the Youth Officer who leads the youth programme. The Board oversees all activities in the Centre and, in order to perform this oversight function, it relies on three key direct reports: Denny Anthony (Youth Officer), Dani Karas (Centre Manager) and Jamilla Amra (Accounts Manager). Due to funding constraints we remain thinly resourced compared to many other charities which provide similar services with a limited executive function. As Chair of the Board of Trustees, I am responsible for maintaining a fit-for-purpose Board of Trustees which comprises individuals with appropriately diverse backgrounds, a range of required skills, a natural empathy with the Charity’s core purpose and sufficient time to contribute meaningfully to Board discussions and other responsibilities which they may be assigned. Finding appropriately skilled trustees with the right mindset for the role is challenging.

In May 2023 Jeannetta Orton joined as the Charity’s fourth trustee. Jeannetta is a local resident with some experience of charity work and valuable career expertise in property law. I am particularly keen to build the board’s diversity and oversight capabilities and also address the Board’s residual skills gaps. The search for a fifth trustee continues in 2024. During 2023, specific lead responsibilities were assigned as follows: Fund Raising - Tony Bowden, Finance – Jonathan Walker and Safeguarding – Jeannetta Orton.

Five meetings of Trustees were held in 2023, all in person. Board meetings were fully informed with an agenda and board pack which was circulated to all attendees in good time before each meeting. Trustees are asked to amend the draft agenda as appropriate before it is finalised. Both the Centre Manager and Youth Officer are invited to add agenda items and to attend meetings of trustees. Both individuals circulate a monthly report to trustees. There were also more regular communications between meetings via e-mail, phone and informal face-to-face meetings. Minutes of each Board meeting are recorded, checked, circulated to all attendees and stored securely. In addition, I circulate a monthly set of management accounts and a summary of key workstreams to Trustees.

HOGARTH CHARITABLE TRUST COMPANY LIMITED

Report for the 12-month period ended 31 December 2023 (continued)

Organizational culture and conduct

Leading by example at all times, the Board of Trustees must work to ensure that the Charity’s culture is both healthy and fit-for-purpose and reaches all parts of the organisation and is fully evident to all key external stakeholders. Our culture refers to our patterns of behaviours, our rituals, the values that we share and the accepted norms and standards of behaviour. The right culture underpins our success by helping to motivate staff and reduce key staff turnover. It helps to grow licensee revenues and to attract all forms of external funding. By guiding acceptable behaviour, it also helps to mitigate key risks, especially safeguarding. The right culture therefore underpins the Charity’s long term performance and success. Indeed it defines its existence. Further progress has been made moulding the culture of the enlarged organization to create the lasting foundations of a harmonious and unified working environment, as evidenced by staff and licensee stability and increased working synergies between the licensee activities and the Youth Programme. However, a good culture requires constant effort and attention; there is never any room for complacency. This remains a priority in 2024 and beyond for the Charity’s key culture carriers, its leadership team.

Conclusion

In 2023 an increase in license fees helped to offset a reduction in total grants and donations. Evidencing good financial controls and a sound understanding of the Centre’s cost dynamics, total Centre net operating costs in 2023 of £104,814 were very close to our budget of £105,000. Higher than budgeted costs for PROJECT 2023 were largely offset by higher than expected grants and donations. As a result, the Charity’s cash balance at 31[st] December 2023 was little changed from the prior year end, per the chart below.

Report for the 12-month period ended 31 December 2023 (continued)

However, notwithstanding lower utility costs, our 2024 running costs are budgeted to be slightly higher than 2023 at approximately £251,000 which splits £105,000 to run the Centre and £146,000

HOGARTH CHARITABLE TRUST COMPANY LIMITED

to deliver PROJECT 2024. Our aim is to build our financial resilience by holding cash reserves at least equal to one year of total operating costs. We ended 2023 with cash (less licensee deposits) of £165,820 which is approximately £85,000 below our 2024 budgeted costs of £251,000. We must therefore continue to add multiple, sustainable sources of external funding to reduce this structural funding deficit.

We must do more to raise the profile of our work in the local community, expanding our network of Friends of the Hogarth and sourcing multi-year sponsorship and donation commitments. Obtaining a new 15 year lease from LBH will certainly help our ability to raise funds and source grants. LBH provides us with grants and continued use of the Centre and remains the Charity’s most important partner.

I am encouraged that 2024 has begun well. License fees are on track to surpass £165,000 and the costs of running the Centre and PROJECT 2024 are tracking close to their respective budgets. We have already received three grants from LBH and have scheduled a fifth wine tasting event at the Centre on 27[th] June 2024. In the first five months of 2024, donations are also trending higher than the comparable period in 2023. We thank every donor, sponsor and grant provider for their much needed support, especially given their funding constraints in the current inflationary environment. The Youth Team’s strategic pivot to increase outreach efforts is also showing very positive results. PROJECT 2024 attendance levels in the four month period January to April have increased by more than 30%.

Once again, I must thank my three fellow trustees for their wise counsel, support and hard work throughout the year. The Board of Trustees wholeheartedly thanks Denny Anthony the Youth Officer, his entire team of youth workers co-lead by Naomi Alleyne and their enlarged team of trainee youth workers, Dani Karas the Centre Manager, Jamilla Amra the Accounts Manager and all of the Centre’s support staff for their professional diligence throughout 2023. It is a result of their commitment, flexibility and hard work in 2023 that we can continue with confidence to serve our local community and broaden our social purpose in 2024.

Per our 2024 objectives, we have set ourselves challenging goals which as a team we will strive to achieve. One aspect of our core culture is a desire for continuous improvement. We are as ever determined to do more to help more young people in our local community. The best is yet to come.

HOGARTh CHARrrABLE TRUSTCOMPANY UMrrED Progress on the fdlowin8objecti¥es is to be rwin¥ed ￿d •scuss￿ attnAsteÈftetin85dw¥¥202 L To m￿tain the h181￿t Sta￿ardSOf$afe8￿0rth￿s 5tren8theningthe tharWs reputatlon as one which unwaverin8 and absokne priority to the prot&tion ufyoung people. 2. To protertthe Charirfs resources knarxial and other, minimisin8 am operatingwasteand inefficyencies wtherever posyThl 3. To reNryew and update as appropriate the thrne key poky doaNne￿ related to 4. To ((xi¢liiur Iv liDy[v￿ tJAtwr and ty4n5p6renwi retylDB on the Chartts adture carriers to ￿ inclu5hfdy wlth empattrry and ener8y and so buikl a unified Charity. L To 8r(wthe fM)pulatlon ofyoun8 peo attendin8ourYouth Prly￿nrne ¥Ath a partk￿lar focus on bulldlng the cohort of youne people èBed 13 to 18 ￿a￿S tthllst continuirw to build the totsl w)ure ￿tenda￿efvEque￿Yto apPr￿rnat￿ 5.CW, by lYtseasin8 oiiroutreach efforts imrthng the appeal and relevan￿ of PROJECT 2024. prewln e ground to apptytrthe Gohj Quality Mark with London Youth. 2. To build 5tskeholder relionships. espeuaNy with kncal bu5iThesse5 to seare morn re8ular sponsors. sclw15 otheryixrth aub5 nearto the Centrt 3. To m￿MIse the social valL generated bythe Centre'5 operations by provhYln8 morefree swo. if jitort￿l. •0 help a di¥erse r￿Be o disad¥artt¥￿ 8roups. thus building th• Charitys iyoader s￿141 purpose and TeleNryKe. 4. To host at least one suc￿sSFul fund-ratsing everrt T￿th a target fund ratse of £IO,(KM) to supp)rt PROJEcf 2024's Summer PTtyamme. that buus our netM)rk of Fr￿ndS of the Ho8arth and extends ow li# of and deeP￿ts oui relationships with loca residents and muitsple SPC￿50nft8 ¢)rwisations. aimingto sy up at least two muftbyear spons￿& 5. To continue to ath for k)cal grants to ratse morethan £20IxKifor PROJEcf 2024. 6. To 8enerate totsl license fees of at least £165.CQ) in 2024 without •ncurrinE any bad debtors TwhI15tensurin8th￿ all Ikensee Pa￿lents are made via banktransfer onfy and to atheretothe 2024CetKre ¢¥)eTrty may range from £ilXJ.(XfJto£105.fXJI. 7. To continuetobuild awaTer￿SS0fthe Centr'$5p&eand KtV4ibesthrough more effectlve use of s￿1•1 medla platfornis and 5eanth en8ines and ty improving the Chariws website to maximbsethe Centre's space u&isation and revenue efficierKythdst I￿reacrosS 8. To complele wtlations with (￿r landk>rd, the Lon¢k)n Borou8h of Trkyjnsknw. for a nff•d h)n8-terni lease on the buildin8 on tern)s whkh do not compromtse wr abilityto sustaln a vibrantyouth Se￿¢¢ and %>dally valued and apprtspriatety maintsitd community centre o%r thefull duration of our new lease. 9. To minimisethe tharilV5en¥4roM￿ry￿ I￿rint byminimi5inKal wasty Ixrt sp&S slnts use plasl•c and ur￿￿e$S3ry heathi8 and lithtin& 10. To reuult a Ilfth trustee and so continue to build the skls and (l¥er of the Board of Fred iucs Dkn." 2vJubJ 202* 14_

HOGARTH CHARITABLE TRUST COMPANY LIMITED

Report for the 12-month period ended 31 December 2023 (continued)

CHARITY’S RISK REGISTER

The Board of Trustees constantly scans the horizon for risks which may disrupt operations or threaten the Charity’s existence. The Board of Trustees has long adopted a very prudent approach to risk management. This remains entirely appropriate given the heightened funding risks associated with the youth service. Risk mitigation is therefore a key priority and is discussed regularly. The following table summarises the key risks, both internal and external, and the risk mitigations undertaken.

INTERNAL INTERNAL
Key risk Likelihood Potential impact Mitigations Who owns the risk
Safeguarding
breach		 Rare
(< 5%)		 Catastrophic– a material
breach of safeguarding
rules involving a young
person(s) on site could
severely damage the
Charity’s good reputation
and ultimately result in
the Centre’s permanent
closure.		 The Board of Trustees works
very closely with the Youth
Officer who lead authors our
safeguarding policy and ensures
its full implementation.
The Youth Officer provides a
monthly report to the Board of
Trustees which starts with a
review of safeguarding.
Photographs of the two
Safeguarding Officers (Denny
Anthony and Naomi Alleyne)
are displayed around the
Centre and on our website.
Regular reminders are sent to
all licensees as well as the
updated policy document.
New and clearer safeguarding
signage has been displayed
throughout the Centre.
A penalty system for minor
infringements has been
established e.g., if a licensee
client enters a safeguarded
zone without supervision.
Maintenance contractors are
asked to work outside of
safeguarding hours if possible.
CCTV cameras monitor all
safeguarded zones 24-7.
Recordings are used as
evidence of safeguarding
breaches and to learn. We
continue to work on a
safeguarding protocol with our
neighbour to cover our shared
playground.
Trustees and staff are expected
to take safeguarding training to
maintain their awareness of the
keyrisks.		 The Board of
Trustees.
The Youth Workers.
The Centre Manager.
All licensees and all
of their clients.
All Centre users
including visiting
contractors and
suppliers.

HOGARTH CHARITABLE TRUST COMPANY LIMITED

Report for the 12-month period ended 31 December 2023 (continued)

INTERNAL INTERNAL
Key risk Likelihood Potential impact Mitigations Who owns the risk
Loss of near
term liquidity		 Unlikely
(5% - 20%)		 Manageable– barring a
very material unforeseen
expense, the impact of a
single licensee default on
the charity’s liquidity is
generally manageable,
albeit unwelcome and to
be avoided. The closure of
the Centre, as occurred for
almost three months in
2020, and further
operating restrictions in
Q1 2021 depleted the
Charity’s free cash
position.		 Licensees are monitored and as
necessary pursued by the
Centre Manager to ensure
prompt and full payment of
monthly license fees.
Licensees must pay via bank
transfer – all cash and cheque
payments have been stopped.
The Charity has a small financial
reserve which is a protective
buffer should license fees stop.
Our goal is to maintain one year
of expenses as a reserve.
All of the Charity’s cash is
deposited with a high quality,
global financial institution
(HSBC) in accounts with
immediate access.
Our bank accounts are checked
regularly by trustees and the
Accounts Manager.		 The Board of
Trustees.
The Centre Manager.
Licensee
churn		 Probable
(20% -
50%)		 Manageable– a
temporary loss of license
fees is manageable
provided the vacated
space is filled within 1-2
months.		 License agreements for long-
term licensees include a three-
month notice period which
gives the Centre Manager time
to look for alternative licensees.
New licensees are partly
selected based on the duration
that theywill license the space.		 The Centre Manager.
Licensee
default		 Unlikely
(5% - 20%)		 Material– loss of revenue
if a licensee fails to pay
their monthly license fee
can reduce funding
available for the youth
service.		 The Centre Manager monitors
all licensee activities, ensuring
they remain viable. Before
being offered a space, all new
licensees must complete a KYC
form which requires two
references and information on
the business’s ownership and
funding. Preference is given to
proven businesses rather than
start ups. The Centre Manager
sends the Board a monthly
debtors report. Failure to pay
license fees represents a breach
of contract and notice may be
served on the defaulting
licensee, requiring them to
vacate. All licensees pay a
deposit of at least one month
which may be withheld. An
annual license fee revenue
forecast is provided monthly by
the Centre Manager.		 The Board of
Trustees.
The Centre Manager.
All licensees.

HOGARTH CHARITABLE TRUST COMPANY LIMITED

Report for the 12-month period ended 31 December 2023 (continued)

INTERNAL INTERNAL
Key risk Likelihood Potential impact Mitigations Who owns the risk
Loss of key
personnel		 Unlikely
(5% - 20%)		 Material– although
subject to a notice period,
if either the Youth Officer
or Senior Youth Worker
were to leave or become
unavailable to work due to
poor health or other
reasons, delivery of the
youth programme would
be at risk as would its local
franchise and standing.
Unwanted staff turnover
loses valuable Centre
specific knowledge and
expertise. It also
consumes time finding and
trainingreplacement staff.		 Working closely with the youth
team, promoting transparency
across the entire organization
and paying a fair remuneration
appropriate to each role, the
Board of Trustees looks to build
staff commitment and loyalty.
By continuing to improve
organisational culture and
imposing a zero tolerance for
unacceptable behaviours, we
create an environment where
people are fully respected and
empowered and want to work
long term for the Charity.
Remuneration is as competitive
as the Charitycan afford.		 The Board of
Trustees.
The Youth Officer.
The Centre Manager.
Unexpected
Centre
maintenance
and operating
expenses		 Probable
(20% -
50%)		 Manageable– the building
which we lease from LBH
is old and historically has
been quite poorly
maintained. Unexpected
essential maintenance
with a material cost can
reduce the funding that is
available for the youth
programme. The same
would apply given
substantial increases in
certain operating
expenses such as for gas
and electricity supplies.		 A maintenance review of the
Centre was completed in 2019
which resulted in a
comprehensive list of
maintenance priorities.
Only essential maintenance was
done in 2020 and 2021, but in
2022 some much needed
redecoration and
refurbishment was completed.
Licensees are responsible for
maintaining their spaces in a
safe and secure state and, upon
vacating, ensuring that their
space is as it was when they
signed their license.
Under its lease obligation, LBH
is responsible for the Centre’s
roofingand external masonry.		 The Board of
Trustees.
The Centre Manager.
All licensees.
LBH.
Theft of
assets		 Unlikely
(5% - 20%)		 Manageable– the Charity
does not own any high
value, mission critical
physical assets. Staff are
responsible for the
security of their work
mobile phones and laptop
computers.		 CCTV cameras monitor all
points of access and corridors
24-7. The Charity has a rolling
contract with Securitas for a call
alert and rapid response
intervention if the building’s
alarm system is activated.
The last licensee leaving the
building is responsible for
locking the front door and
initiating the alarm system.
Licensees are responsible for
the security of their assets and
must keep their spaces secure.
The Charity maintains an
insurancepolicyto cover losses.		 The Centre Manager.
The Youth Team.
All licensees.

HOGARTH CHARITABLE TRUST COMPANY LIMITED

Report for the 12-month period ended 31 December 2023 (continued)

EXTERNAL EXTERNAL
Key risk Likelihood Potential impact Mitigations Who owns the risk
Lease expiry Unlikely
(5% - 20%)		 Catastrophic– our lease
with LBH will expire in
November 2024. If the
lease is not renewed, the
Charity may be forced to
close.
Grant providers, donors
and sponsors are wary
about funding a
programme which may be
terminated if the lease is
not renewed.
Key staff are becoming
more concerned about
their long term careers
and long term licensees
are also increasingly
concerned about their
activities.		 The Board of Trustees works to
ensure that the Centre is
maintained to ensure safe
operations at all times.
By building a successful track
record of an independent,
dynamic and valued youth
service which is as securely
funded as it can be, the Board
of Trustees expects to agree a
new lease with LBH in late
2024.
With support from our
Honorary Solicitor,
trustees are working with
Avison Young, Property
Surveyors, and the Council in
order to agree terms for a new
lease with LBH.		 The Board of
Trustees.
LBH.
Cyber fraud Rare
(< 5%)		 Material– if the Charity’s
Bank accounts were
hacked and money stolen,
this would threaten both
its liquidity and solvency.		 Online banking login details are
confidential and restricted to
two trustees and the Accounts
Manager via their personal
security devices and mobile
phones.
Both trustees log in regularly to
review all accounts and check
for any suspicious transactions
which are then investigated
promptly.
The Charity’s bank account
details are only shared with
bona fide donors, grant
providers and sponsors.
The Chair has participated in an
on-line Cyber fraud prevention
tutorial and promptly shared all
key learnings with all Trustees
and staff.
Deposits held in a bank (HSBC)
that is highly rated and
authorised by the Prudent
Regulation Authority are
protected up to £85,000. The
deposit protection limit applies
to the total eligible deposits of
each person, per PRA-
authorised firm. It is hoped that
the government will raise the
protection limit materially.		 Board of Trustees.
The Centre Manager.
The Accounts
Manager.

HOGARTH CHARITABLE TRUST COMPANY LIMITED

Report for the 12-month period ended 31 December 2023 (continued)

EXTERNAL EXTERNAL
Key risk Likelihood Potential impact Mitigations Who owns the risk
Personal data
loss or theft		 Rare
(< 5%)		 Material– our reputation
would be damaged and
confidence in our youth
service would be reduced
if the personal details of
the young people
attending the Centre or
the Friends of the Hogarth
group were lost, stolen or
disclosed to the wrong
people.		 The confidential data on young
people is saved on a laptop
which is password protected.
This laptop is stored securely at
the Centre.
Confidential data on licensees,
suppliers and Trustees is saved
on another computer which is
password protected.
Key statistics on youth user
ages, gender, backgrounds,
addresses and participation
frequency are maintained by
the youth team in the secure
IYSS database under a contract
with LBH.
Personal information on the
Friends of the Hogarth group is
securely stored and only shared
on a need to know basis,
marked Private & Confidential.
Our quarterly newsletter is
emailed using BCC so as not to
expose recipient’s names and e-
mail addresses.		 Board of Trustees.
The Youth Team.
The Centre Manager.
Cost inflation Very likely
(50% -
100%)		 Material– since Russia’s
invasion of the Ukraine on
24th February 2022 the
cost of our gas and
electricity supplies has
almost trebled. Elevated
inflation has also led to
higher maintenance and
sundry costs as well as
higher staff compensation.		 License fees are increased every
year with the aim of tracking
inflation over time.
Every effort is made to ensure
competitive tendering for all
maintenance and supply
contracts.
Notwithstanding a competitive
market, the costs of gas and
electricity supplies are outside
the Charity’s control and both
increased very materially in
2022. Every effort is made to
turn off unnecessary lighting
and minimise central heating
time. It was decided to lock in a
fixed unit price for both gas and
electricity in 2024 for a 12
month period.
Each year the Charity applies
for and is granted an exemption
from Business Rates.		 Board of Trustees.
The Centre Manager.

HOGARTH CHARITABLE TRUST COMPANY LIMITED

Report for the 12-month period ended 31 December 2023 (continued)

Report of the Directors and Trustees for the 12-month period ended 31[st] December 2023

The Directors and Trustees present the report and the unaudited financial statements for the 12month period ended 31[st] December 2023.

Principal Activity

The principal activity of the Company is to promote the benefit of young people of the LBH without distinction of gender, sexual orientation, nationality or race, or of religious or other opinions. This is achieved by the provision of facilities in the interests of social welfare for recreation and leisure time occupation with the aim of improving the quality of life for young people and to provide an alternative to residential care and custody for young people in trouble.

Organisation

The Company operates from the Hogarth Youth and Community Centre. During the 12-month period ending 31[st] December 2023 the front office was staffed by Dani Karas, who started in this role in midDecember 2020. For the twelve months to 31[st] December 2023, Jamilla Amra served as Accounts Manager and the youth programme was delivered by the Youth Officer (Denny Anthony, contractor), Senior Youth Worker (Naomi Alleyne, contractor) who called upon a cohort of 21 trainee youth workers.

Main Activities

The Company’s main activities include:

  1. Onsite youth programmes for young people aged 8 to 21.

  2. Onsite and offsite half term and holiday activities and schemes for the young people.

  3. Licensing the Centre’s space to a diverse set of appropriate licensees in order to fund building operations and maintenance and partly fund the youth service.

  4. 20 -

HOGARTH CHARITABLE TRUST COMPANY LIMITED

Report for the 12-month period ended 31 December 2023 (continued)

Review of the Financial Activities and Future Prospects

2023 was a year of mixed results and we ended the year with a loss of £7,921. We continued to show strong growth in the licensing of space at the Centre with licensee fees of £159,381, an increase of 13% from the previous year. This was more than offset by a 33% decrease in the level of grants and donations that we received. At the same time, the cost of utilities remains a challenge and the cost of gas and electricity for the year totalled £33,454 (+26%) compared to £26,627 in 2022. In addition, in order to build participation in our various youth programmes we have had to call on and pay additional trainee youth workers. This resulted in youth worker costs increasing by 23% to £153,649 (2022 £125,015).

We are also in the final stages of renewing the lease on our premises with the London Borough of Hounslow (“LBH”). The lease is due to expire on 3[rd] November 2024 and LBH has indicated a willingness to renew the lease for a further 15 years. They have also provided us with a signed Letter of Assurance which states, in part, “The Council and The Hogarth Trust are in the process of negotiating a draft new lease in relation to the premises. The Council and the Hogarth Trust intend to finalise the negotiations and complete the new lease on or before the expiry of the current lease”.

Our cash balances are held with HSBC in three accounts and with PayPal. Some donations are paid into the PayPal account and, as at 31[st] December 2023, there was a nil balance on this account. A small amount of petty cash is securely stored at the Centre. Overall, our liquidity position remains healthy and we ended the year with cash balances in the bank of £178,545 (2022 £185,226).

Directors and their interests

The Directors during the 12-month period ended 31[st] December 2023 are shown on page 3.

Auditors

The accounts are not required to be audited because the turnover of the Company is below £1,000,000.

Company Exemption

For the 12-month period ended 31[st] December 2023, the Company was entitled to exemption under Section 477 of the Companies Act 2006. No members have required the Company to obtain an audit of its accounts for the year in question in accordance with Section 476. The Directors and Trustees acknowledge their responsibility to:

  1. Ensure the Company keeps accounting records which comply with the act.

  2. Prepare accounts which give a true and fair view of the state of affairs of the Company as at the end of its financial year in accordance with Sections 394 and 395, and which otherwise comply with the applicable requirements of the Companies Act relating to the accounts.

Approved by the Board of Directors and signed on its behalf.

Date: 29[th] July 2024

HOGARTH CHARITABLE TRUST COMPANY LIMITED

Report for the 12-month period ended 31 December 2023 (continued)

Report of the Independent Examiner

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31[st] December 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

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of ACCA which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  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.

Colin Airey FCCA George Hay Chartered Accountants Brigham House, High Street ,Biggleswade Bedfordshire, SG18 0LD

Date: 31[st] July 2024

HOGARTH CHARITABLE TRUST COMPANY LIMITED

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 INCOME & EXPENDITURE

Notes
3
3
4
4
5
6
7
8
9
Canteen Supplies
Depreciation
Building Maintenance & Cleaning
Grants & Other Projects
Building Security
Holiday Projects
Youth Sessions
Utilities
INCOME
Other Grants and Donations &
Sponsorships
Halls & Other
Licence Fees
Canteen & Memberships
Bank interest
Total Incoming Resources
LBH Grants
EXPENDITURE
Balances c/fwd 31 Dec 2023
Total Expenditure
Net incoming resources in year
Balances b/fwd 31 Dec 22
Transfer of Funds
Sub Total
MANAGEMENT &
ADMINISTRATION
Contractors
Administrative costs
Bookkeeping & Legal Fees
Clubs for young people insurance
Trustee public liability insurance
Accounts review
Sub Total		 2023
2023
2023
2022
Unrestricted
Centre
Operations
Restricted
Youth
Service
Total
£
£
£
£
1,000
29,312
30,312
42,572
0
42,692
42,692
67,135
116,605
116,605
106,809
37,463
5,313
42,776
33,723
2,861
2,344
5,205
6,048
1,195
1,195
120
159,124
79,661
238,785
256,407
1,865
1,865
1,699
4,803
4,803
4,182
11,930
11,930
7,925
1,470
1,470
444
816
3,645
4,461
8,339
951
951
951
31,221
31,221
32,947
25,025
25,025
21,632
62,816
18,910
81,726
78,119
32,353
121,296
153,649
125,015
804
804
720
5,891
1,031
6,922
4,887
2,374
2,374
2,492
714
714
627
517
517
409
41,939
123,041
164,980
134,150
104,755
141,951
246,706
212,269
54,369
-62,290
-7,921
44,138
123,109
45,197
168,306
124,168
-65000
65000
0
0
112,478
47,907
160,385
168,306

HOGARTh CHARrrABLE TRUS[ COMPANY UMrrED ANCE SHEET AT 31 DECEM8ER 2023 Nei asts io 5562 Dtbknrs OthÈrdebtors & P￿Payments Cash at bank and in hand 1,372 1.283 178,545 181.2O) 1,228 2,391 185226 188,845 li 12 .16 4fj,IlJl 154,302 162.744 ij 85 is8￿$ FUNDS Unrestricte¢J 14 112.478 123.109 47.9)7 45,197 160385 W3 Restrkted TOTALWHOS In approving these financial statements as Direutys of the C(Ynpany we hereby cfjnfirrn the foMowin8: For ihc year in question the company wa5entitled toexemption under SectM>n 477 olthe Companie5 Act 2(136 relinG to Small cornpanie& DirEctor5' re5ponsibilitie5: l. The member5 ha¥e not required the Cornpanyto olrtavk an audit for its accouffls for th@ ye¥ in quest*)n in accordance with Section 476. L The Dirertors ackno¥AedRe thèir reSb)onslbilities for complylnR the retyjlrwnents of the Act with respert to accountin8 rec￿th and the wew•tlM of accoun These accounts ha¥e been prepared in xC¢Tda￿e ¥•ith the pro¥151on app5kable to companles, subject to the 5ma# comwle5' reglme. Walker Dlrector -24-

HOGARTH CHARITABLE TRUST COMPANY LIMITED

NOTES TO THE ACCOUNTS FOR THE 12-MONTH PERIOD ENDED 31 DECEMBER 2023

1. ACCOUNTING POLICIES

The financial statements have been prepared in accordance with the Charities Act 2011 and in accordance with the 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).

The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The accounts have been prepared under the historical cost convention, modified to include financial instruments at fair value. The principal accounting policies adopted are set out below.

The accounts have been prepared in accordance with the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - Charities SORP (FRS 102) the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) Section 1A and the Charities Act 2011.

Income

Donations and other income are accounted for when they are received, with the exception of restricted funds. Interest from deposit accounts is disclosed on a cash basis, where the effect is not materially different from using the accruals basis.

Expenses

Expenses are accounted for on the accruals basis.

Fund Accounting

The General Fund represents funds for use at the Company’s discretion. The Restricted Funds represent funds given by the donors for specific projects.

Tangible Fixed Assets

Fixed assets are shown at historical cost and depreciation is provided, after taking account of any grants receivable, at the following rates in order to write-off each asset over its estimated useful life. The reducing balance is used for motor vehicles and equipment whilst original cost is used for property improvements.

2022 and 2023
Motor vehicles 25%
Equipment 25%
Property improvements 10%

2. TRUSTEE / DIRECTOR EMOLUMENTS

The Trustees of the Company did not receive any emoluments or any expenses during the year.

HOGARTH CHARITABLE TRUST COMPANY LIMITED

NOTES TO THE ACCOUNTS FOR THE 12-MONTH PERIOD ENDED 31 DECEMBER 2023

3. GRANTS AND DONATIONS

During the year, LBH awarded the Charity four grants totalling £29,312 to support the youth service and a further £1,000 for centre refurbishment. The overall amount of £42,692 for Other Grants and Donations & Sponsorships comprised the following:

Analytical People 500
Cornel Lucas Archive 500
Donations not eligible for Gift Aid 29,992
Gift Aided Donations 6,070
Helicon Health 1,000
HMRC Gift Aid 1,630
King's Tennis Centre 500
Munro Charitable Trust 1,000
Tesco Stronger Starts 1,000
Whitman 500
42,692

4. LICENSE FEES

The 13% increase in fees for 2023 as detailed below was primarily due to fuller multi-user space utilisation and an inflationary increase in license fee levels. The five largest single user license fees represented 52% of the total.

Chinese Medicine
Dojo
Fitnessology
Little Forest Folk
Little Kickers
Mannan Education
RCCG
Gala Bell
Halls & Other		 2023
2022
£
£
12,168
11,592
20,963
16,260
20,160
19,200
26,556
24,588
4,655
5,326
11,643
11,043
12,960
12,200
7,500
6,600
42,776
33,723
159,381
140,532

HOGARTH CHARITABLE TRUST COMPANY LIMITED

NOTES TO THE ACCOUNTS FOR THE 12-MONTH PERIOD ENDED 31 DECEMBER 2023

5. UTILITIES

Electricity
Gas
Water		 2023
2022
£
£
7,572
10,347
25,882
16,280
-2,233
6,320
31,221
32,947

The increase of 26% in total electricity and gas charges for 2023 was due to the much higher new gas contract prices. During the year we received a credit of £3,735 from Castle Water for over billing in 2023. Castle Water began billing monthly in arrears in September 2023.

6. BUILDING MAINTENANCE & CLEANING

Building Maintenance
Cleaning		 2023
2022
£
£
10,914
9,634
14,111
11,998
25,025
21,633

The 18% increase in cleaning costs in 2023 is due to an increase in the hourly rate paid to the cleaner and more hours required to clean the Centre as space utilisation increased. The 13% increase in building maintenance expenditure in 2023 is due to the backlog of maintenance needed. Total building maintenance expenditure in 2023 is comprised of the following items:

Annual equipment and system maintenance 2,127
Electrical 2,420
Plumbing & Heating 600
LBH Service Contract 1,679
Various repairs 2,674
Various Equipment 1,414
10,914

7. CONTRACTORS

Contractor service costs amounted to £153,649 and were paid to Dani Karas as Centre Manager and to the Youth Service Team. As licensed activities increased during 2023, the Centre Manager’s hours and hourly rate were both increased during the year as were the hourly rates paid to the Youth Team. In addition and included in this total, the Charity paid one trainee youth worker £866 for preparatory work on the London Youth Gold Award.

HOGARTH CHARITABLE TRUST COMPANY LIMITED

NOTES TO THE ACCOUNTS FOR THE 12-MONTH PERIOD ENDED 31 DECEMBER 2023

8. ACCOUNTS REVIEW

We have contracted with George Hay Chartered Accountants to act as our independent examiner. This firm has agreed to examine our accounts for 2023 at a basic rate of £670 plus VAT at 20%.

9. ADMINISTRATIVE COSTS

IT
Office Supplies
Telephone
Sundry		 2023
2022
£
£
328
416
30
122
1,196
1,039
5,368
3,310
6,922
4,887

Sundry expenses of £5,368 includes the youth team annual staff dinner £861, printing £220, training £2,041, licenses & memberships £881, DBS checks £150 and other items £1,215. .

10. TANGIBLE FIXED ASSETS

Cost
At 1 January 2023
Additions
At 31 December 2023
Depreciation
At 1 January 2023
For the year
At 31 December 2023
Net Book Value
At 31 December 2022
At 31 December 2023		 Assets
£
22,168
5,324
27,492
16,606
4,803
21,409
5,562
6,083		 Total
£
22,168
5,324
27,492
16,606
4,803
21,409
5,562
6,083

In 2023 there were £5,324 of tangible fixed asset additions which primarly relate to an upgrade to the Youth Programme’s sound studio system. Depreciation for the year increased by 15% as a result and totalled £4,803.

HOGARTH CHARITABLE TRUST COMPANY LIMITED

NOTES TO THE ACCOUNTS FOR THE 12-MONTH PERIOD ENDED 31 DECEMBER 2023

11. DEBTORS

Licensee Debtors
Prepayments & Other Debtors		 2023
2022
£
£
1,372
1,228
1,283
2,391
2,655
3,619

Licensee debtors and other debtors are detailed as follows.

Licensee Debtors
Mikes Judo
Chiswick Boxing
Steve West
Stardust Arts
Others
Overpayments		 2023
2023
£
Prepayments & Other Debtors
£
50
YS insurance
185
940
H&S services
297
315
PI & Trustree annual insurance
241
120
PPL PRS music license
481
180
Securitas
79
-233
1,283
1,372		 2023
2023
£
Prepayments & Other Debtors
£
50
YS insurance
185
940
H&S services
297
315
PI & Trustree annual insurance
241
120
PPL PRS music license
481
180
Securitas
79
-233
1,283
1,372
1,283

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023 2022
£ £
Trade Creditors 9,251 9,097
Accruals 967 1,563
Licensee Deposits 12,590 14,130
Deferred Income 4,090 1,311
26,898 26,101
Deferred
Creditors Accruals Income
Castle Water 149 Examiner 804 K Doropiienko 180
DNA Youth Consultancy 2,891 Youth Worker 135 J Jayartne 240
EON (NPower) 920 Naomi Exp 28 Chiswick Boxing 1,730
J's ABP Service 162 967 Chiswick Boxing 1,730
PPL PRS LTD 639 S Middleton 210
TGP (Gas) 4,490 4,090
9,251

The licensee deposits of £12,590 comprise the following: Little Forest Folk (£2,380), Reformed Christian Church of God (£1,050), Martial Arts Studio users (£433), Halls (£2,460), Chinese Medicine (£813), Fitnessology (£1,674), Mannan Education (£1,800), Gala Bell (£1,200) and Little Kickers (£780).

HOGARTH CHARITABLE TRUST COMPANY LIMITED

NOTES TO THE ACCOUNTS FOR THE 12-MONTH PERIOD ENDED 31 DECEMBER 2023

13. NET ASSETS: ANALYSIS BY FUNDS

Fixed Assets
Net Current Assets
Net Assets		 Unrestricted
Fund
£
0
112,478
112,478		 Restricted
Total
Fund
£
£
6,083
6,083
41,824
154,302
47,907
160,385

14. UNRESTRICTED FUND: ANALYSIS

TED FUND: ANALYSIS
At 1st January 2023
Net Incoming Resources
Total
Transfer of Funds
At 31st December 2023
At 1st January 2023
Net Incoming Resources
Total
Transfer of Funds
At 31st December 2023		 123,109
54,369
177,478
-65,000
112,478
45,197
-62,290
-17,093
65,000
47,907

15. RESTRICTED FUND: ANALYSIS

Since 2019 when the Charity assumed funding responsibility for the Youth Programme, at the end of every year, a transfer of cash is made from unrestricted deposits to restricted deposits in order to part fund the Youth Programme in the following year. On 28th December 2023 an amount of £65,000 was transferred from unrestricted accounts to the restricted account to eliminate the 2023 year-end deficit on the latter and to provide part funding for the Youth Programme in 2024 (Project 2024).

HOGARTH CHARITABLE TRUST COMPANY LIMITED

NOTES TO THE ACCOUNTS FOR THE 12-MONTH PERIOD ENDED 31 DECEMBER 2023

16. CASH FLOW RECONCILIATION

Dec 23
OPERATING ACTIVITIES
Surplus for the Year
-7,921
Adjustments to reconcile Net Income
to net cash provided by operations:
Accounts Receivable
-144
Depreciation - Equipment
4,803
Other debtors
543
Prepayments
565
Accounts Payable
154
Accruals
-596
Deferred Income
2,779
Licensee Deposit
-1,540
Net cash provided by Operating Activities
-1,357
INVESTING ACTIVITIES
Fix Asset (F&F and Equipment)
-5,324
Net cash provided by Investing Activities
-5,324
Net cash decrease for period
-6,681
Cash at beginning of period
185,226
Cash at end of period
178,545		 Dec 22
44,138
-504
4,182
109
-1,241
7,500
119
1,311
3,370
58,984
0
58,984
126,242
185,226

The decrease in period end cash of (£6,681) broadly matches the income deficit for the year of (£7,921) which reflects the decrease in grants and donations and the increase in staff, maintenance and utility costs. This was largely offset by a positive movement in working capital with the balance reduced by net investment, fixed asset additions less depreciation, of (£521).

As per Note 12, £12,590 of the period end cash is comprised of licensee deposits which may be returned to individual licensees if they choose to vacate the Centre without breach of contract.

The Charity’s underlying free cash, net of licensee deposits, therefore decreased by 3% from £171,096 to £165,955 at year end 2023.