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2023-03-31-accounts

Deptford X Ltd.

Charity No. 1087490

Company No. 04133414

Trustees' Report and Unaudited Accounts

31 March 2023

Deptford X Ltd. Contents

Pages
Trustees' Annual Report 2 to 8
Independent Examiner's Report 9
Statement of Financial Activities 10
Summary Income and Expenditure Account 11
Balance Sheet 12
Notes to the Accounts 13 to 18
Detailed Statement of Financial Activities 19 to 20

Page 1

Deptford X Ltd. Trustees Annual Report

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the period ended 31 March 2023.

REFERENCE AND ADMINISTRATIVE DETAILS

Company No. 04133414

Charity No. 1087490

Registered Office

Lewisham Arthouse 140 Lewisham Way London SE14 6PD

Directors and Trustees

The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:

T. Cisneros

D. Cotterrell

Company Secretary

N. Boobis

Accountants

Sherwin Currid Accountancy Limited

32 London Road Guildford GU1 2AB

Page 2

Deptford X Ltd. Trustees Annual Report

OBJECTIVES AND ACTIVITIES

Objectives and aims

Deptford X is a charity working in a deprived area of South East of London. The Trustees of Deptford X believe in the power of the arts to inspire, educate and communicate with people across the social divide and ensure that every activity has explicit public benefit. The work we commission and select is free for all to view and experience, and we aim to include people from all backgrounds in the yearly programme of events. All Deptford X activities are inclusive in respect of age, race, gender, economic status and disability.

Deptford X exists to promote the best contemporary visual art and to celebrate art with the widest possible audience - it is an art event born of Deptford’s creative community and based on a belief in the limitless potential of the area.

Deptford X:

Fundamentally we support artistsand creative practice, as well as thosewho do not yet identify as artists, with a focus on:

1) People of Colour: Specifically local Black communities. We are actively redressing the balance of participation in Deptford X and visual arts as a whole and making space for People of Colour-led creative programming.

2) Disabled people: We are working to remove barriers to participation in our work and inviting disability-led programming.

3) Young people: We are developing ways to engage local audiences and participants at a younger age and create pathways for their participation and ownership of Deptford X.

Page 3

Deptford X Ltd. Trustees Annual Report

Premises, People and Finances

In April 2022, we were given a month’s notice to vacate our premises at Units A-C Norfolk House, 9 Brookmill Road. The Board had been in discussions with our landlord Galliard to continue at the property as we had been holding over on the previous lease but two offers of revised rent were rejected by the developer and we were then given a termination warning with very short notice. We managed the exit as best as possible and supported the studio tenants with the final month rent free period to support their transition, as well as seeking where possible to find them new studios. The Brookmill Road premises was still vacant in September 2023, being finally let in October 2023. We approached our networks of arts organisations in the borough to enquire whether anyone could provide Deptford X with office space.

Our long standing partners, Lewisham Arthouse, were able to offer Deptford X an office space at an affordable rate, as well as use of their project space and workshop space when needed. We moved into the new office in June 2022 and are very grateful to Lewisham Arthouse for their continued support.

With thanks to an Arts Council England/DCMS Cultural Recovery Fund Continuity grant, we were able to retain Catherine Herbet in her development role until June 2022. This enabled Catherine to work with the board of trustees and director to prepare a bid to the Arts Council England National Portfolio Organisation round for 2023-26, as well as to submit an Arts Council England project grant for the 2022 festival and an application to Lewisham Council to renew our Arts Grant funding. The Project Grant was submitted in March 2022 and the NPO bid. We are delighted to say that we were successful in all three applications and were awarded £71,500 for the 2022 festival and in November 2022 found out that we were to become one of the few new funded NPO organisations in London and the only visual arts NPO in the Borough of Lewisham. Our NPO funding was agreed at £97,000 a year for 3 years. Our Lewisham Council Arts Grant was granted in April 2022 and included an uplift from £8,000 a year to £20,000 a year (from 2022 - 2025). For the 2022 festival we were also awarded a National Lottery Heritage Fund grant for the parade of £9,425, as well as several small grants for the Borough of Culture year - £1,900 from Lewisham Council and £2,000 from The Albany, both to support the parade. In February 2023 we were awarded a Cockayne Grants for the Arts of £8,000 to support our 25th Anniversary programming.

Our interim Deputy Director, Sarah Umar, tendered her resignation at the start of the year and we would like to thank her for all her hard work with Deptford X over the last 4 years. We recruited a new interim Deputy Director and the new role of Programme and Communications Manager. We were delighted to appoint Jessica Slater as Programme and Communications Manager who joined the team in February and Jareh Das as Deputy Director who joined in April 2022. Our Director, Nathalie Boobis, returned to work from maternity leave at the end of June 2022 although she used her Keep in Touch Days to support induction and to work with our Development Manager, Catherine Herbert, on the preparation of the Arts Council National Portfolio bid and the Arts Council Project Grant bid for the 2022 festival.

Catherine Herbert’s contract came to an end in June 2022 and she departed after a handover with the Director. Catherine was then re-employed on a freelance basis as a fundraiser from December 2022. Jareh Das remained with Deptford X until October 2022, during which time she managed the premises move and curated a highly successful 2022 festival. Jessica Slater resigned in February 2023 and following the successful NPO award, we made the decision to create a permanent Deputy Director position and began recruitment in February 2023. We appointed Kellie Blake who was to start in May 2023, and Christy O’Beirne as the new Programme and Communications Manager, also to start in May 2023.

Page 4

Deptford X Ltd. Trustees Annual Report

SIGNIFICANT ACTIVITIES

Between the 16 and 25 September 2022, Deptford X Festival took place in and around the Deptford area, utilising a range of accessible public spaces both inside and outside. The festival commissions featured 7 new projects, including the annual artist-led parade and 3 projects from our Supported strand—an annual open call for early career BPOC artists in Lewisham, selected by an industry panel.

The Festival also featured a diverse fringe programme with active participation of 391 artists of which 20% were BPOC. Additionally the festival ran it’s annual Parade in collaboration with Nigerian artist Jelili Atiku, in which an estimated 75 local children and participants took part in the parade and 220 in the parade workshops. All this was augmented by a range of talks, performances and walking tours. An estimated 236,205 people encountered art work as part of the 2022 Deptford X festival.

Aims for the festival:

Commissioned Artists

The three Curated commissions selected by Jareh Das were:

Ibiye Camp, Mosh Iria

Ibiye Camp created a multi-disciplinary installation, Mosh Iria, installed in the courtyard of Studio 101 and comprised of textiles, natural dyeing techniques and video documentation focused on an impression of blouses worn by women in Southern Nigeria. She used kola nuts from Sharon’s African Food Store on Deptford High Street to dye fabrics, and installed aspects of her work there and in Rose’s African Textiles, also on the High Street.

Nnena Kalu, Infinite Drawing

In partnership with Action Space, this was a major presentation of twenty-four of Nnena Kalu’s previously unseen drawings in one of the empty units at Enclave. The drawings filled the gallery walls from floor to ceiling, some shown in the pairs in which they were originally proud. The immersive installation offered visitors an insight into Kalu’s intensive drawing practice.

Johanna Tagada Hoffbeck, Penser, Manger, Partager II

Johanna Tagada Hoffbeck collaborated with architect Takeshi Hayatsu to create an intimate roundhouse made from hazel rods, naturally dyed plant-based textile in the project space at Lewisham Arthouse. The artist collected donations of primarily plant-based textiles their owners had no use for, some of which are from Lewisham residents through a call for participation.

The three Supported commissions selected by from an open call by a panel consisting of Funmi Adewole Elliott, Phoebe Collings-James, Annis Harrison, Karl Ohiri and Jason W H Page were:

Page 5

Deptford X Ltd. Trustees Annual Report

Barbara Majek, Yam, on Sunday

Yam, on Sunday was a collage presented on a billboard site on Creek Road and a sculptural installation made from refashioned traditional Nigerian cooking pots presented at Petit Village grocers on Deptford High Steet. The work stemmed from Majek’s wider research-led project, Yoruba Civilisation that unpacks how African-Caribbean communities create, and utilise vital spaces such as food markets.

Yeu-Lai Mo, Upstairs

Yeu-Lai Mo transformed an old railway arch in Deptford Market Yard into a recreation of a ‘room’ her family kept in the upstairs of their Chinese takeaway which housed a large-scale shrine called the ‘Si Gu Tan’. Mo created a darkened immersive installation scented with incense and consisting of a 5ft shrine and a ghostly projection of figures engaged in martial arts.

Assia Ghendir and Puer Deorum, The benevolent refraction of a wave passing through

Artists Assia Ghendir and Puer Deorum created a durational performance in Margaret MacMillan Park using sculptural vessels filled with rosemary. The vessels were displayed in Deptford Lounge pre and post performance.

Each Supported artist was offered a fee, curatorial support, a production budget and mentoring. Festival

Parade:

Jelili Atiku, The earth is a beehive

The parade’s title references the African proverb: ‘the earth is a beehive, we all enter by the same door,’ a reflection on collectivity and coming together for the wellbeing and celebration of diverse communities. Participants came together to embody Atiku’s observations of Deptford—its histories, as well as elements of migration, market and resources most evident in foodstuffs sold and traded in these spaces.

The parade was developed in collaboration with local artists Evan Wong; Deniz Ünal; and Isabel Castro-Jung who delivered co-creation workshops with children from Edmund Waller School, Turnham Academy, Watergate School, Woodpecker Youth Group, and open workshops across the borough in August as part of the family engagement aspect of Lewisham Borough of Culture.

Following the festival, an exhibition of the parade costumes, photographs and film, as well as young people’s workshops, were held at Lewisham Shopping Centre and at The Migration Museum, supported by funds from National Lottery Heritage Fund.

Fringe

The Fringe included the work of 391 locally based artists, across 63 projects, and attracted an estimated 170,602 visits. The majority of Fringe artists were new to the festival with 55% showing work as part of Deptford X for the first time this year. A number of Fringe artists also showed work to the public for the first time during the festival, thanking DX for the opportunity. 100% of Fringe artist respondents either strongly agreed or agreed that they were “proud to be part of Deptford X”.

Page 6

Deptford X Ltd. Trustees Annual Report

Lewisham Borough of Culture

2022 was Lewisham Borough of Culture Year. This afforded Deptford X the opportunity to run workshops in the South of the Borough and to gain some further funding for the parade. We were proud to be part of the Borough of Culture year and look forward to contributing towards the legacy.

Peer Network

In February 2022, members of our Peer Network - Monica Tolia, Yoongsouk Choi and Jessie Jing - who had formed a collective ‘Have You Eaten Yet?’?partnered with community charity Vietnamese Family Partnership (Gia Ðình Vi?t) to present a programme for Lunar New Year Festival 2022 in our event space at Brookmill Road. They organised a weekend of festivities, art workshops & performances, as well as an exhibition.

The Peer network cohort ended after the 2022 festival and an evaluation session followed. Further funding is being sought to continue the programme.

Use of Volunteers

The trustees wish to express their deep gratitude to all the volunteers who have given their time and their resources during this period to help support and build Deptford X.

ACHIEVEMENTS AND PERFORMANCE

We worked with some of the UK’s most exciting artists to explore ideas and create new works, attracting 7,767 recorded visits to the curated programme, and an estimated 236,205 exposed to work in the public realm, with artworks sited on billboards, the library and local shops. 220 local children and young people took part in costume-making workshops for the parade and 75 took part on the day. We commissioned 16 artists to create 8 new works. The Fringe programme attracted 391 locally based artists to take part, and attracted an estimated 170,602 visits.

FINANCIAL REVIEW

The decision was made to move the financial year end date to 31 March to align with the new reporting structures required of Deptford X since becoming an Arts Council England National Portfolio Organisation in 2023. This change of year end required the 2022 accounts to cover a 15 month instead of 12 month period (from 1 January 2022 until 31 March 2023, as opposed to the previous year which cover 1 January – 31 December 2021).

The results of the 15 month to 31 March 2023 are set out in the statement of financial activities. Incoming Resources for the period are £135,296 (2021: £134.012). Resources Expended are £143,486 (2021: £94,302). For the 15 months ended 31 March 2023, Deptford X shows a net deficit of £8,190 (2021: net surplus £39,710). The deficit is due to how our cashflow is reflected in the 15 month financial year accounting period, with both Arts Council England and Lewisham Council quarterly grants being paid in April 2023. A board decision was made to absorb the £8,190 deficit using our free reserves.

At 31 March 20223, unrestricted funds of the charity amount to £77,745 and restricted funds amount to £10,463. Restricted funds are reserved for festival and programme expenditure in 2023/24.

Deptford X would like to thank Arts Council England, London Borough of Lewisham, National Lottery Heritage Fund, London Community Foundation, Sir William Boreman Foundation and other sponsors and donors for their continued support.

Page 7

Deptford X Ltd. Trustees Annual Report

Policy on reserves

The Trustees assessed the minimum desirable level of unrestricted funds would be equivalent to 6 months of unrestricted expenditure on festival programme, support and staff costs plus redundancy costs for eligible members of staff (to ensure that in the worst case scenario a managed exit could be delivered).

During the period, the Charity allocated the unrestricted surplus of £77,745 as follows: £58,000 designated as operational reserves as per the policy above; £7,500 restricted for education projects; £5,000 restricted for spending on the 25th anniversary programme; £2,500 restricted for property costs; and £4,745 of free and unrestricted reserves. A great achievement for Deptford X in ensuring future sustainability.

The Trustees will continue to keep the Charity's financial position under review to ensure that freely available reserves are sufficient to meet its working capital requirements.

PLANS FOR FUTURE PERIODS

At the time of writing this report, Deptford X has joined Arts Council England’s National Portfolio which begins in April 2023 with a funding agreement in place to receive £97,000 a year until March 2026 to deliver our festival and programme. We have recruited a Deputy Director position and appointed Kellie Blake in this role who started work in May 2023. We are working towards our 25th anniversary festival and programme for September 2023. The team are focussing on fundraising, capacity building and delivery of our agreed Arts Council NPO programme of Activty Outcomes and Investment Principles.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

Signed on behalf of the board

Seema Manchanda (Dec 7, 2023 11:31 GMT)

S. Manchanda Trustee 06 December 2023

Page 8

Deptford X Ltd. Independent Examiners Report

Independent Examiner's Report to the trustees of Deptford X Ltd.

I report to the charity trustees on my examination of the financial statements of Deptford X Ltd. for the period 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 financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the financial statements of the Charity 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 financial statements 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 can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe:

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 financial statements to be reached.

Max Sherwin FCCA Sherwin Currid Accountancy Limited 32 London Road

Guildford

GU1 2AB

06 December 2023

Page 9

Deptford X Ltd. Statement of Financial Activities

for the period ended 31 March 2023

Notes
Income and endowments from:
Donations and legacies
4
Investments
5
Total
Expenditure on:
Charitable activities
6
Other
7
Total
Net gains on investments
Net (expenditure)/income
8
Transfers between funds
Net (expenditure)/income
before other gains/(losses)
Other gains and losses
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
2023
£
50
8,283		 Restricted
funds
2023
£
126,800
163		 Total funds
2023
£
126,850
8,446		 Total funds
2021
£
110,862
23,150
8,333
-
17,084		 126,963
29,988
96,414		 135,296
29,988
113,498		 134,012
23,268
71,034
17,084
-		 126,402
-		 143,486
-		 94,302
-
(8,751)
-		 561
-		 (8,190)
-		 39,710
-
(8,751) 561 (8,190) 39,710
(8,751)
86,496		 561
9,902		 (8,190)
96,398		 39,710
56,688
77,745 10,463 88,208 96,398

Page 10

Deptford X Ltd. Summary Income and Expenditure Account

for the period ended 31 March 2023

Income
Interest and investment income
Gross income for the period
Expenditure
Interest payable
Depreciation and charges for impairment of
fixed assets
Total expenditure for the period
Net (expenditure)/income before tax for
the period
Net (expenditure )/income for the period		 2023
£
126,850
8,446
135,296
142,392
5
1,089
143,486
(8,190)
(8,190)		 2021
£
110,862
23,150
134,012
93,934
21
347
94,302
39,710
39,710

Page 11

Deptford X Ltd. Balance Sheet

at 31 March 2023

Company No.
04133414
Notes
Fixed assets
Tangible assets
8
Current assets
Debtors
9
Cash at bank and in hand
Creditors:Amount falling due within one year
10
Net current assets
Total assets less current liabilities
Net assets excluding pension asset or liability
Total net assets
The funds of the charity
Restricted funds
Restricted income funds
11
Unrestricted funds
General funds
11
Designated funds
Total funds
2023
£
1,390
1,390
36,295
52,468
88,763
(1,945)
86,818
88,208
88,208
88,208
10,463
10,463
4,745
73,000
77,745
88,208		 2021
£
694
694
13,600
81,298
94,898
806
95,704
96,398
96,398
96,398
9,902
9,902
14,246
72,250
86,496
96,398

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the period ended 31 March 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the board on 21 November 2023

And signed on its behalf by:

Seema Manchanda (Dec 7, 2023 11:31 GMT) S. Manchanda

Trustee

06 December 2023

Page 12

Deptford X Ltd. Notes to the Accounts

for the period ended 31 March 2023

Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of income Income is included in the Statement of Financial Activities (SoFA) when the charity becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.

Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.

Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services and These are only included in income (with an equivalent amount in expenditure) where facilities the benefit to the Charity is reasonably quantifiable, measurable and material.

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 13

Deptford X Ltd. Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates. These comprise the costs associated with attracting voluntary income, fundraising Expenditure on trading costs and investment management costs. raising funds These comprise the costs incurred by the Charity in the delivery of its activities and Expenditure on services in the furtherance of its objects, including the making of grants and governance charitable activities costs.

Grants payable

All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.

Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.

Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Tangible fixed assets and depreciation

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

Office equipment 25% Reducing balance

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other shortterm highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Page 14

Deptford X Ltd. Notes to the Accounts

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital.

3 Statement of Financial Activities - prior year

3
Statement of Financial Activities - prior year
Income and endowments from:
Donations and legacies
Investments
Total
Expenditure on:
Charitable activities
Other
Total
Net income
Transfers between funds
Net income before other
gains/(losses)
Other gains and losses:
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
2021
£
5,772
23,150
28,922
-
2,484
2,484
26,438
4,500
30,938
30,938
55,559
86,497		 Restricted
funds
2021
£
105,090
-
105,090
23,268
68,550
91,818
13,272
(4,500)
8,772
8,772
1,129
9,901		 Total funds
2021
£
110,862
23,150
134,012
23,268
71,034
94,302
39,710
-
39,710
39,710
56,688
96,398

Page 15

Deptford X Ltd.

Notes to the Accounts

4 Income from donations and legacies

Donations
Grants
Donated goods, facilities and services received
Arts Council England
London Borough of Lewisham
National Lottery Heritage Fund
London Community Foundation
Sir William Boreman Foundation
Lendlease
HMRC - CJRS
5
Income from investments
Rents received
Deposit account interest
6
Net (expenditure)/income before transfers
This is stated after charging:
Depreciation of owned fixed assets
7
Staff costs
Salaries and wages
Pension costs		 Unrestricted
£
50
-
50

Unrestricted
£
8,283
-
8,283		 Restricted
£
2,300
124,500
126,800
Restricted
£
-
163
163		 Total
2023
£
2,350
124,500
126,850
Total
2023
£
79,265
22,800
9,435
8,000
5,000
-
-
124,500
Total
2023
£
8,283
163
8,446
2023
£
1,089
2023
£
76,602
2,210
78,812		 Total
2021
£
9,242
101,620
110,862
Total
2021
£
93,120
8,500
-
-
-
1,750
1,720
105,090
Total
2021
£
23,147
3
23,150
2021
£
347
2021
£
48,876
1,666
50,542

No employee received emoluments in excess of £60,000.

Page 16

Deptford X Ltd. Notes to the Accounts

8 Tangible fixed assets

Cost or revaluation
At 1 January 2022
Additions
At 31 March 2023
Depreciation and impairment
At 1 January 2022
Depreciation charge for the year
At 31 March 2023
Net book values
At 31 March 2023
At 31 December 2021
9 Debtors
Other debtors
Prepayments and accrued income
10 Creditors:
amounts falling due within one year
Trade creditors
Other taxes and social security
Other creditors
Accruals
Deferred income		 Office
equipment
£
7,462
1,785
9,247
6,768
1,089
7,857
1,390
694
2023
£
545
35,750
36,295
2023
£
284
1,661
-
-
-
1,945		 Total
£
7,462
1,785
9,247
6,768
1,089
7,857
1,390
694
2021
£
100
13,500
13,600
2021
£
-
(5,664)
2,421
1,601
836
(806)

Page 17

Deptford X Ltd. Notes to the Accounts

11 Movement in funds

Restricted funds:
Restricted income funds:
Total
Unrestricted funds:
General funds
Designated funds
Total
Total funds
12 Analysis of net assets between funds
Fixed assets
Net current assets		 At 1
January
2022
9,902
9,902
14,246
72,250
86,496
96,398
 Incoming
resources
£
126,963
126,963
8,333
-
8,333
135,296		 Resources
expended
£
(126,402)
(126,402)
(17,084)
-
(17,084)
(143,486)
Unrestricted
funds
£
1,227
86,818
88,045		 Gross
transfers
£
-
-
(750)
750
-
-
Restricted
funds
£
163
-
163		 At 31
March
2023
£
10,463
10,463
4,745
73,000
77,745
88,208
Total
£
1,390
86,818
88,208

13 Related party disclosures

Controlling party

The company is limited by guarantee and has no share capital; thus no single party controls the company.

Page 18

Deptford X Ltd. Detailed Statement of Financial Activities

for the period ended 31 March 2023

Income and endowments from:
Donations and legacies
Donations
Grants
Investments
Rents received
Deposit account interest
Total income and endowments
Expenditure on:
Charitable activities
Artist fees (festival)
Artist access costs (festival)
Event management/launch
Total of expenditure on charitable
activities
Other expenditure
Management costs - Website
Management costs - Volunteer
Management costs - Sundry
Other interest payable
Employee costs
Salaries/wages
Pension costs
Staff entertainment
Staff recruitment
Staff training
Motor and travel costs
Travel and subsistence
Premises costs
Rent
Light, heat and power
Premises repairs and maintenance		 Unrestricted
funds
2023
£
50
-
50
8,283
-
8,283
8,333
-
-
-
-
-
40
-
155
5
200
11,403
353
259
81
60
12,156
164
164
1,000
-
355
1,355		 Restricted
funds
2023
£
2,300
124,500
126,800
-
163
163
126,963
26,099
1,042
2,847
29,988
29,988
413
508
259
-
1,180
65,199
1,857
423
-
-
67,479
2,104
2,104
1,500
3,545
2,185
7,230		 Total funds
2023
£
2,350
124,500
126,850
8,283
163
8,446
135,296
26,099
1,042
2,847
29,988
29,988
453
508
414
5
1,380
76,602
2,210
682
81
60
79,635
2,268
2,268
2,500
3,545
2,540
8,585		 Total funds
2021
£
9,242
101,620
110,862
23,147
3
23,150
134,012
21,770
564
934
23,268
23,268
286
132
101
21
540
48,876
1,666
-
-
-
50,542
80
80
308
2,780
5,700
8,788

Page 19

Deptford X Ltd.

Detailed Statement of Financial Activities

General administrative costs,
including depreciation and
amortisation
Depreciation of Office equipment
Bad debts
Bank charges
General insurances
Marketing and advertising
Postage and couriers
Software, IT support and related
costs
Stationery and printing
Telephone, fax and broadband
Legal and professional costs
Audit/Independent examination fees
Accountancy and bookkeeping
Consultancy fees
Total of expenditure of other costs
Total expenditure
Net gains on investments
Net (expenditure)/income
Net (expenditure)/income before
other gains/(losses)
Other Gains
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 -
19
25
-
-
149
277
-
-
470
597
872
1,270
2,739
17,084
17,084
-
(8,751)
86,496
77,745
(8,751)
(8,751)
-		 1,089
-
72
1,043
8,271
1,298
877
153
376
13,179
1,386
2,056
1,800
5,242
96,414
126,402
-
561
9,902
10,463
561
561
-		 1,089
19
97
1,043
8,271
1,447
1,154
153
376
13,649
1,983
2,928
3,070
7,981
113,498
143,486
-
(8,190)
96,398
88,208
(8,190)
(8,190)
-		 347
288
14
882
5,701
122
975
254
724
9,307
1,383
394
-
1,777
71,034
94,302
-
39,710
39,710
-
39,710
56,688
96,398

Page 20