##
|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||||
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|||||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|
##
|1|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|||||||
##