2022-03-31-accounts - Bernie Grant Centre Partnership

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Trustees					Dotun Adebayo M.B.E —Chair	Dotun Adebayo M.B.E —Chair	Dotun Adebayo M.B.E —Chair
					Sharon Margaret	Grant O.B.E.
					Lela Kogbara
					Nii Nortey
					Jonathan Rand
					Malakai Sargeant
					Dimple Purohit
					Miranda Grell
					Elisabeth Ukanah
					Robyn Kasozi
Company		Secretary			Sharon Margaret	Grant O.B.E.
Key Management				Personnel	Hannah Azieb Pool —CEO/Artistic			Director
Company		number			04528346
Charity	number				1102263
Other Working			Names		BGAC —Bernie Grant		Arts Centre
Registered		Office			Bernie Grant Arts	Centre
					Town Hall Approach		Road
					Tottenham
					London N15 4RX
Bankers					The Cooperative	Bank
					Wood Green Branch
					193High Road
					Wood Green
					London N22 6DP
					Triodos Bank
					Deanery Road
					Bristol BS15AS
Auditors					Dunkley's Chartered		Accountants
					Woodlands Grange
					Woodlands Lane
					Bradley Stoke
					Bristol BS324JY

				Unrestricted	Restricted	Tots I	Total
				Funds	Funds	Funds	Funds
				2022	2022	2022	2021
			Note	6		6	6
Income
Grants and donations					416,036	416,036	956,382
Hires, box office and catering				248,995		248,995	24,573
Rental and other income				283,462		283,462	215,279
Investment income				36,286		36,286	35,875
Total income				568,743	416,036	984,779	1,232,109
Expenditure
Charitable activities				539,595	785,434	1,325,029	899,482
Total expenditure				539,595	785,434	1,325,029	899,482
Net Income / (expenditure) Investments gains/losses		before		29,148	(369,398)	(340,250)	332,627
Unreahsed movements	on	investments	8	104,825		104,825	208,011
Net income / (expenditure)				133,973	(369,398)	(235,425)	540,638
Transfers between funds				(89,009)	89,009
Net movement ln Funds				44,964	(280,389)	(235,425)	540,638
Reconciliation of funds Total funds brought forward Total funds canied forward				122,823	11,654,126	11,776,949 11,236,311 11,511,5, 5,959

			2022	2021
		Note	8
Fixed assets
Tangible fixed assets			11,387,384	11,639,528
Investments			1,319,445	1,214,620
			12,705,829	12,854,148
Current assets
Debtors			81,676	22,622
Cash at bank and	in hand		358,707	453,182
			440,383	475,804
Creditors: Amounts	falling due within one year	10	(268,154)	(143,469)
Net current assets			174,229	332,335
Total assets less current llabilites			12,881,058	13,186,483
Creditors: Amounts	falling due after one year		(1,339,534)	(1,409,534)
Net Assets			11,541,524	11,776,949
Capital and reserves
Restricted funds			11,373,737	11,654,126
Unrestricted funds			167,787	122,823
		12	11,541,524	11,776,949

					2022	2021
Net income/(expenditure)	forthe reporting			period (asper the
Statement ofFinancial Activities)					(235,425)	540,638
Adjustments for:
Depreciation charges					293,323	284,839
Investment income					(36,286)	(35,875)
(Increase)/decrease in debtors					(59,054)	(2,890)
Increase/(decrease) in creditors					52,685	(451,235)
(Gains)/losses on investments					(104,825)	(208,011)
Net cash provided by (used		in) operating		activities	i89,582i	127466,
Cash flows from investing	activities
Investment income received					36,286	35,875
Purchase offixed assets					(41,179)
Net cash provided by (used		In) investing		activities	(4,893)	35,875
Net increase/(decrease) in	cash and cash			equivalents	(94,475)	163,341
Cash and cash equivalents		at beginning	ofyear		453,182	289,841
Cash and cash equivalents		at end ofyear			358,707	453,182

Principal accounting policies	Principal accounting policies
1.1	Basis ofpreparation offinancial statements
	These financml statements have been prepared under the histoncsl cost ccnvenUon	in accordance with the	Statement of				Reconvnended
	pracfics for Charlbes (SORF2015)(Second Edrbcn, effectrve 1 January 2010), UK accounfing standards, including 'Finanaai Reparbng
	Standard 102The Finendal Reponing Standard applicable In the UK and Republic af reland' (FRS 102)and the				Companies			Act 2006 T)ie
	charity meets the defintlon of6 public benefit errtlty under FRS 102.
1.2	Going concern
	The Trustees consder that the preparation af the accounts on a going concern basis	bsppmpnste The charfiy			b dependent			upon	grant
	mcome, whah is sublect to cansklerable uncertainty. However, ths Trustees consder	that ths chsnty's asset base would					be	sufficient ta pmvlds
	securfiy to enable the charity to obtan loan finance In the event that addrb anal fiquldity	was rsqulnxl to meet	opersbng cash					flows
	Receipt at'the Thames Water rental income ss 4 lump sum has provided addrbonal cash rescurces to conbnue			opsrabons			as a going concern
	The 1rustees continually monitor the flnsndsl posrtion ofthe charrtable company and	ars sabsfied that rt vnfi	conbnue to			be able to meet its
	ongdng fiabfiltles es they fell due The finsnaal statements do nat indude any adjustments which would arise from rts fwlure							to meet forecasts
	and to operate within its agreed financ faalrties The Trustees befieve there be no material uncertainties about			the ability			ofthe chsrrty to
	conbnue as a going concern
1.3	Judgments and key sources ofestimation uncertainty
	1he preparation offin a nasl statements in compliance wfih FRS 102 requires the usa	ofcertain discs l accaunb ng esfimetes.						It also	requires
	management to exsrase ludgment in applying the Charity's accounting poliaes. The	key ludgemsnts that have		been applied				by management
	relate to
	Economic useful life oftangible fixed assets which is reflected in the deprecwtian	rates applied and are	discussed			m
	accounting paficy nots I 8
	Allowance for doubtful receivables At each reporbng date, the Charrty evsluatss	ths recmrsrsbility oftrade
	receivables snd record sfiowances for doubtful recerve blas based on expsnence	These efiowancss are based on,
	amongst other thmgs, a conwderatran ofactual cofiecbon history. 1he actual level ofrecdvables cofiectsd			may differ
	fram the estimated levels ofrecovery, which could Impact ops rabng results posibvsly ar negabvely
1.4	Fund accounfirig
	General funds sre unresinctsd funds whkh ars avafiable for use at the discretion of Ihs trustees in furtherance			ofthe general objectives ofthe
	ccmpany and which have not been designated for other purposes
	Restncted funds are funds which sre to be used m accordance vnth spedfic resbtdlons imposed by donors		which have			been raised			by the
	company for particular purposes The cost ofraising snd administering such funds are charged against the		specific fund				The aim and use of
	each restnded fund w set out in the nates to the finsncral statements
15	Income
	Afi Inccme Is Included in the Statement of Flnandsl Activities when the company is entrtied tothe ncome, it		e
	probable that the income will be recerved and rt can be measured reliably
	Lease mcome from operabng leases w recognised on a straight line basis over the lease tenn. Where applicable,				lease	incentives			are
	recognised asa reducUon to Incame over the lease term on a straight line basis.
	Investment income relates to interest snd drvidend earnings from the cherty's mvestmmt In Ihe CO/F Cheriliss				irrvssfment			Fund administered
	by CCLA Fund Managers Limned (see note 8 below)
1.6	Expenditure
	Afi expenditure Is accounted for on an accrusls basis snd has been induded under expense catrkfirnes that
	aggregate sfi coats for afiocatlon toactiviUes. Where costs cannot be dlrscUy sttdbu ted to parb euler actrvi ties
	they have been afiocsted on 8 basis consistent with the use ofthe resources
	Charitable expenditure comprises actlvfiles undertaken which are directly identrfisble	aswholy or manly in
	support ofthe Company's objecbves.
	Support costs are those costs that asset the work af the charity but do not dlredly represent chants hie activities
	and Include administration staff cost, office cost and finance Their allocabon to actwnss are based on fioor		aree
	Governance costs sre fhose casts incurred in connecbon vnth strategic admlnlstraUon	snd corn planes with
	constrtutlonai and statutory requirements
1.7	Operating leases
	Rentals sppkcsbls to opsrabng leases where substantisfiy afi ofthe benefits end rhks ofownership remain		with
	the lessor are charged to the Statement of Financial Acbvibes as incurred

5	Expenditure
							Unrestricted			Restricted	Total	unrestricted	Restdct8d	Total
								funds		funds	funds	funds	funds	furld8
								2022		2022	2022	2021	2021	2021
								E		f	E	E	f.
	Charitable activities
	Staff							3,734		157,168	180,900	127182	62,600	189,783
	Consultants	&freelance			staff			143,429		189,935	313,384	3 083	64,855	67,738
	IVernls88							87,770		58,339	148,109	12050	109,880	121,930
	Events							13,341		72,879	86,220	4,320	19,399	23,719
	Depreoabon							31,381		260,889	292,270	25,124	258,359	283,483
	Other direct	costs						19,970		1,000	20,970	3,314	9,224	12,538
	Support costs							244,270		65,228	309,498	104,914	95,377	200,291
	Total charitable		acffvttles					543,895		785,434	1,329,329	279,987	819,495	899,482
	Total expenditure							643,896		786,434	1,329,329	279,987	619,496	899A82
	Support costs
							Governance			Gene re I		Governance	Genenll
								function		support	Total	function	support	Total
								2022f		2022f	2022 E	2021 f.	2021f	2021 f
	Staff							5,780		48,052	54,832	15,741	30,852	48,593
	Consultants									4,191	4,191		30,457	30,457
	Insurance									33,500	33,500		48,912	46,912
	Legal &prcfessonal									39,031	39,031		388	388
	Audit fee							8,800			8,600	8,800		8,800
	Offlce &admlnlstraBon									4,411	4,411		19,852	19,852
	Depreoaton									1,053	1,053		1,358	1,358
	Other									163,678	I83,878	613	45,320	45,933
								14,580		294,916	309,486	25,154	175,137	200291
	Support costs	have		been effocated		es	fo8ows,
	Charitable acbvlbes			(above)							309,496			200,291
											309,496			200,291
6	Staff costs
													2022	2021
													f.	E
	Gross wages			and salanes									194,125	219,109
	Employers		nabonal		insurance								15,873	11,796
	Employers		pension		contnbution								5,734	5,471
													215,732	236,376
	The average number			ofemployees		during		the period was						17
	The average number			ofBsl bme equivalent				employees	during the pened was
	The total remuneraton for				key management			personnel	was	E60,000(2021:543,520)
	The number of	staff whose			emoluments		were in excess ofE60,000 during the				year were as	follows
	f80,001 - E70,000
													2022 E	2021f
	Staff costs have		been analysed as
	Charitable		activities										160,800	189,783
	Support	Costs											54,832	46,593
													215,732	238,376

7	Tangtble f)xed assets
		Long-term	Furniture,
		leashold	fitangs and
		property	egutpnmnt	Total
		6	6	5
	Coat
	At 31 March 2021	13,801,984	260,020	13,882,004
	Addeons		41,179	41,179
	At 31 March 2022	13,801,984	301,199	13,903,183
	De pleo letiorl At 31 March 2021	1,992,415	230,061	2~,478
	Charge Iorthe period	260,869	32,434	293,323
	At 31 March 2022	2,253,304	262,495	2,515,799
	Net BooKValue
	At 31 March 2022	11,348,BBD	38,704	11,387,384
	At 31 March 2021	11,609,569	29,959	11,839,528
8	InVeStmentS: lated securtdes
			2022	2021
				r.
	At 1 Apnl		1,214,620	1,008,609
	Reveluehon		104,825	208,011
	At 31 March - market value		1,319,445	1,214,820

9	DebtOrS: amounts falling due vnthin one year	DebtOrS: amounts falling due vnthin one year	DebtOrS: amounts falling due vnthin one year
				2022 6	2021f
	Trade debtom			81,676	22,202
	Other' debtors				420
				81,676
10	Creditors: amounts faDmg due ivnhrn one year
				2022	2D21
				6
	Trade creditors			80,222	21,426
	Deferred	income		113,212	70,000
	Tsxsbon snd sooal secunty cost			72,622	35,391
	Accitiels			4,50D	11,417
	Other creditors			15,598	5,235
					143,469
	Summary	ofmovements In year on deferred Income		2022	2021
				F.	6
	Balance	at 1 Apr		70,000	89,979
	Released	ln year		(70,0DO)	(89,979)
	Defer'red	in year		113,212	70,000
	Balance	at 31 Mar		113,212	70,000
11	Creditors: amounts		fagmg due after one year	2022	2021
	Deferred	income	—Thames Water rental Income (note 13)	1,339,534	1,409,534
				1,339,534	1,409,534

				unrestricted	Resrrfcied	Torsi funds
				Funds	funds	2022
				f.		6
Tangible fired assets				I 358,149	11,348,880	1Z,TOS,BZB
Current assets				415,328	25,057	440,3B3
Cred aors. anounts	felling due wnhln one year			(26B,154)		(266,154)
Cred aors: wnounts	faglng due after one yew			(I 339,534)		(1,339,534)
Net assets at 31 March 2022				167,787	11,373,737	11,641,624
				tynresf lie red	Rssrllcal d	Total funds
				Fulrds	funds	2021
				5	9	6
Tangible fixed esses				1,244,579	11,609,589	12,854,146
Current assets				431,247	44,557	475,604
Cred aors amounts	fafilng due within one year			(1434B9)		(143,489)
Cred aors amounts	fefilng due after one year			(1,409,534)		(1,409,534)
Net assets at 31 March 2021				122,823	11,664,126	11,TT6,949
Comparative Statements		of Financial Activities
			Unrestricted	Restricted	Total	Total
			Funds	Funds	Funds	Funds
			12months to	12 months to	12 rrtorlths to	12months to 31
			31 March	31 March	31 March	March
			2021	2021	2021	2020
			F.	6	6	2
Income
Grants and donabons			540,103	416,279	956,382	35,184
Hires, box office and catering			24,573		24,573	413,009
Rental and other income			215279		215,279	262,790
Investment	income		35,875		35,875	36,475
Total Income						747,458
Expendhure
Charitable	activities		264,401	635,081	899,482	1,123,431
Total expenditure
Net Income I(expenditure)		before	551,429	(218,802)	332,627	(375,973)
Unrealised	movements	on Investments	208,011		208,011	(32,907)
Net movement	In Funds		759,440	(218,802)	540,638	(408,880)
Reconclfiatlon	offunds
Total funds brought forward			(636,617)	11,872,928	11,236,311	11,645,191
Total funds carried forward