## |Trustees|||||Geoffrey Williams|(Chair)|(Chair)|| |---|---|---|---|---|---|---|---|---| ||||||Sharon Margaret|Grant OBE||| ||||||Lela Kogbara|||| ||||||Nii Nortey|||| ||||||Jonathan
Rand|||| ||||||Dimple Purohit|||| ||||||Miranda
Grell|||| ||||||Robyn Kasozi|||| |Company||Secretary|||Sharon Margaret|Grant OBE||| |Key Management||||Personnel|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|||||Triodos Bank|||| ||||||Deanery
Road|||| ||||||Bristol BS15AS|||| |Auditors|||||Dunkley's
Chartered||Accountants|| ||||||Woodlands
Grange|||| ||||||Woodlands
Lane|||| ||||||Bradley Stoke|||| ||||||Bristol BS324JY|||| |Investment||Managers|||COLA Fund Managers
Limited|||| ||||||One Angel
I ane|||| ||||||London|||| ||||||EC4R 3AB|||| ## ## ## ## ## |The|following
individuals|served as trustees|during
the|period and to the date ofthis report:| |---|---|---|---|---| ||Dotun Adebayo MBE —Chair||(resigned|March 2023)| ||Geoffrey Williams|—Chair|(appointed|December 2023)| ||Sharon Grant OBE|||| ||Lela Kogbara|||| ||Clyde Williams||(resigned|December 2022)| ||Nii Nortey|||| ||Jonathan
Rand|||| ||Malakai Sargeant||(resigned|December 2023)| ||Dimple Purohit|||| ||Miranda
Grell|||| ||Elisabeth
Ukanah||(resigned|June 2023)| ||Robyn Kasozi||(appointed|April 2022)| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||||Unrestricted|Restricted|Total|Total| |---|---|---|---|---|---|---|---|---| ||||||Funds|Funds|Funds|Funds| ||||||2023|2023|2023|2022| |||||Note|F|F|6|6| |Income||||||||| |Grants and|donations||||196,112|257,751|453,863|416,036| |Hires, box|office and catering||||199,181||199,181|248,995| |Rental and|other income||||157,592||157,592|283,462| |Investment|mcome||||38,170||38,170|36,286| |Total income|||||591,055|257,751|848,806|984,779| |Expenditure||||||||| |Charitable|activities|||5|777,296|525,567|1,302,863|1,325,029| |Total expenditure|||||777,296|525,567|1,302,863|1,325,029| |Net income I(expenditure)
investments
gains Ilosses|||before||(186,241)|(267,816)|(454,057)|(340,250)| |Unrealised|movements|on|mvestments|8|(49,929)||(49,929)|104,825| |Net income I|(expenditure)||||(236,170)|(267,816)|(503,986)|(235,425)| |Transfers
between funds|||||(31,840)|31,840||| |Net movement|in Funds||||(268,010)|(235,976)|(503,986)|(235,425)| |Reconciliation|offunds|||||||| |Total funds
brought
forward|||||167,787|11,373,737|11,541,524|11,776,949| |Total funds carried forward|||||(100,223)|11,137,761|11,037,538|11,541,524| ## ||||2023|2022| |---|---|---|---|---| |||Note|5|6| |Fixed assets||||| |Tangible
fixed assets|||11,128,761|11,387,384| |Investments|||1,269,516|1,319,445| ||||12,398,277|12,706,829| |Current assets||||| |Debtors|||133,749|81,676| |Cash at bank and|in hand||92,419|358,707| ||||226,168|440,383| |Creditors: Amounts|falling due within one year|10|(317,373)|(266,154)| |Net current assets|||(91,205)|174,229| |Total assets less current liabilites|||12,307,072|12,881,058| |Creditors: Amounts|falling due after one year||(1,269,534)|(1,339,534)| |Net Assets|||11,037,538|11,541,524| |Capital and reserves||||| |Restricted
funds|||11,137,761|11,373,737| |Unrestncted
funds|||(100,223)|167,787| |||12|11,037,538|11,541,524| ## |||||2023f|2022f| |---|---|---|---|---|---| |Net/ ncome/(expenditure)|for the reporting period (asper the||||| |Statement ofFinancial Act/v/ties)||||(503,986)|(235,425)| |Adjustments
for:|||||| |Depreciation
charges||||284,993|293,323| |Investment
income||||(38,170)|(36,286)| |(Increase)/decrease
in debtors||||(52,073)|(59,054)| |Increase/(decrease)
in creditors||||(18,781)|52,685| |(Gains)/losses
on investments||||49,929|(104,825)| |Net cash provided
by (used||in) operating|activities|(278,088)|(89,582)| |Cash flows from investing|activities||||| |Investment
income received||||38,170|36,286| |Purchase offixed assets||||(26,370)|(41,179)| |Net cash provided
by (used||in) investing|activities|11,800|(4,893)| |Net increase/(decrease)
in|cash and cash||equivalents|(266,288)|(94,475)| |Cash and cash equivalents||at beginning|ofyear|358,707|453,182| |Cash and cash equivalents||at end ofyear||92,419|358,707| ## |1|Principal
accounting
policies|Principal
accounting
policies|||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| ||1.1|Basis ofpreparation
offinancial statemenls|||||||||| |||These finanmal
staternenls
have been prepared
under the historical cost convention
in acconlance
with Ihe|Statement||||of||Recommended||| |||Practice for Chanties (SORP 2015)(Second Edition, effective I January 2019),UK accounting
standards,
including||||'Financial
Reporting|||||| |||Standard
102The Financial
Reporting
Standard
applicable
in the UK and Republic of Ireland' (FRS 102)and the|||Companies|||||Act 2006 The|| |||chanty meets the definition
ofa public benefit enkty under FRS 102|||||||||| ||1.2|Going concern|||||||||| |||The Trustees consider that Ihe preparaeon
of the accounts on a going concern
basis is appropnate.
The charity|||is|dependent||||upon|gant| |||income, which is subiect to considerable
uncertainty.
However, the Trustees consider that Ihe chanty's asset base||||would|||be|suflioent to provide|| |||secunty to enable the charity to obtain loan finance
in Ihe event that additional
liquidity was required
to meet|operating||||cash|||flows|| |||Receipt of the Thames Water rental income as a lump sum has provided
additional
cash resources to conbnue||operabons|||||as a going concern||| |||The Trustees continually
monitor the financial posison of the chanlable
company
and are satisfied
that
it will|continue||||to|be able to meet its|||| |||ongoing
liabilities as Ihey fafi due. The financial statements
do not include any adlustments
which would arise from||||its|failure|||to meet forecasts|| |||and to operate within
its agreed finance facilities
The Trustees believe there be no material uncertainties
about||the ability|||||ofthe chanly to||| |||continue as a going concern|||||||||| ||1.3|Judgments
and key sources ofestimation
uncertainty|||||||||| |||The preparation
of finanoal
statements
in compliance
with FRS 102requires
Ihe use ofcertain cnlical accounbng||||eskmates||||Italso|mquires| |||management
to exermse ludgment
in applying
the Charriy's
accounting
polioes. The key ludgements
that have||been applied||||||by management|| |||relate to|||||||||| |||Economic useful
life of tangible
fixed assets which is reflected
in the deprecation
rates applied
and are|discussed|||||in|||| |||accounting
policy note I 8|||||||||| |||Allowance
for doubfful
receivables
At each reporbng
date, the Charity evaluates
the recoverability
oftrade|||||||||| |||receivables
and record allowances
for doubtful
receivables
based on experience. These allowances
are based on,|||||||||| |||amongst
other things, a consideration
of actual collection
history
The actual level ofreceivables collected||may differ|||||||| |||from the estimated
levels of recovery, which could impact operating
results
positively
or negatively|||||||||| ||1.4|Fund accountmg|||||||||| |||General funds are unrestricted
funds which are available
for use at the discrebon of Ihe trustees
in furtherance||of the|||general obleckves of the||||| |||company and which have not been designated
for other purposes|||||||||| |||Restricted
funds are funds which are to be used
in accordance
with speofic restnclions
imposed
by donors|which|||have||been raised|||by the| |||company for particular
purposes. The cost of raising
and administering
such funds are charged
against
the|specrfic fund||||||The aim and use oi||| |||each resbicted
fund is set out in the notes to the finanoal statements|||||||||| ||1.5|Income|||||||||| |||All income is included
in the Statement of Finanoal
Ackvilies when the company is ensiled
to the income, it|is||||||||| |||probable
that the income
will be received and
it can be measured
reliably.|||||||||| |||Lease income from operabng leases is recognised
on a straight
line basis over Ihe lease term. Where applicable,||||lease||incenbves
are|||| |||recognised
as a reduction
to income over Ihe lease term on a straight
line basis.|||||||||| |||Investment
income relates to interest and dividend
earnings
from Ihe chanty's
investment
in the COIF Chenfas|||tnveslmenl|||||Fund administered|| |||by CCLA Fund Managers
Limited (see note 8 below). The dividend
income is recognised
at the eadier of Ihe date||||when||the||chanty's
right to|| |||receive payment
is established
or the date ofcash receipL|||||||||| ||1.6|Expenditure|||||||||| |||All expenditure
is accounted
for on an accruals basis and has been included
under expense categories that|||||||||| |||aggregate
all costs for allocation
to activities
Where costs cannot be direcfiy attnbuted
to pariicular
acbvities|||||||||| |||they have been allocated on a basis consistent
with the use ofthe resources|||||||||| |||Charitable
expenditure
comprises
activities undertaken
which are directly identifiable
as wholly or mainly
in|||||||||| |||support ofthe Company's
oblectives.|||||||||| |||Support costs are those costs that assist Ihe work of the chanly
but do not directly represent chantable
acbvities|||||||||| |||and include administrabon
staf cost, office cost and finance
Their allocaeon to actrnkes are based on floor|area||||||||| |||Governance
costs are those costs incurred
in conneckon
with strategic
administration
and compliance
with|||||||||| |||constitutional
and statutory
requirements|||||||||| ||I 7|Operating
leases|||||||||| |||Rentals applicable
to operasng leases where
substantially
all of the benefits and nsks of ownership
remain|with||||||||| |||the lessor are charged
to Ihe Statement
of Finanoal
Activikes as incurred|||||||||| ## ## |2|Grants &donations||||||| |---|---|---|---|---|---|---|---| |||||||2023|2022| |||||||6|8| ||Arts Council|||||184,933|359,879| ||Paul Hamlyn
Foundabon|||||120,000|| ||London Borough of Hanngey|||||68,990|14,525| ||The Foyle Foundason|||||40,000|| ||The Baring Foundation|||||18,000|| ||Greater London Authority|||||9,040|10,000| ||COVID-I 9CommunityLed|Organisations|||Recovery Scheme (CCLORS)||14,128| ||Ministry of Housing,
Communibes|||&Local|Government||17,504| ||Other grants and donabons|||||12,900|| |||||||453,863|416,036| |3|Hires, box office snd catering||income||||| |||||||2023|2022| ||||||||8| ||Hires income|||||140,702|241,323| ||Boxoffice receipts|||||45,046|7,672| ||Cafe income|||||13,433|| |||||||199,181|248,995| |4|Rental snd other income||||||| |||||||2023|2022| ||||||||8| ||Hub building
rental|||||4,307|106,563| ||Enteqirise
unit rental|||||58,364|75,449| ||Car parking space income|||||14,921|7,623| ||Thames Water rental|||||70,000|70.000| ||OU er|||||10,000|23,827| |||||||157,592|283,462| ## |5|Expenditure||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |||||||||Unrestricted|||Restricted|||Total|Unrestricted|Restricted|Total| ||||||||||funds|||fuiids||funds|IUilits|fUnds|funds| ||||||||||2023|||2023||2023|2022|2022|2022| ||||||||||E|||||6|6||E| ||Charitable
activities||||||||||||||||| ||Staff||||||||122,206|||74,967||197,173|3,734|157,166|160,900| ||Consultants|&freelance|||staff||||177,167|||49,987||227,154|139,129|169,935|309,064| ||Premises||||||||223,728|||4,945||228,673|87,770|58,339|146,109| ||Programme||||||||50,721|||110,675||161,396|13,341|72,879|86,220| ||Depreciation|||||||||||284,691||284.691|31,381|260,889|292,270| ||Other direct|costs|||||||||||||19,970|1,000|20,970| ||SUpport costs||||||||203,474|||302||203,776|244,270|65.226|309,496| ||Total charitable||activities||||||777,296|||525,567||1,302,863|539,595|785,434|1,325,029| ||Total expenditure||||||||777,296|||525,567||1,302,863|539,595|785,434|1,325,029| ||Support costs||||||||||||||||| |||||||||Governance||||General|||Governshce|General|| ||||||||||function|||support||Total|function|SUPPoit|Total| ||||||||||2023|||2023||2023|2D22|2022|2022| |||||||||||||E||||E|| ||Staff||||||||8,499|||61,473||69,972|5,780|49,052|54,832| ||Consultants||||||||4,875|||43,873||48,746||4,191|4,191| ||Insurance|||||||||||30,617||30,617||33,500|33,500| ||begat &professional|||||||||||12,022||12,022||39,031|39,031| ||Audit fee||||||||4,750|||||4,750|8,800||8,800| ||Office I!administration||||||||1,03D|||24,280||25,310||4,411|4,411| ||Depreciation|||||||||||302||302||1,053|1,053| ||Other|||||||||||12.055||12,055||163.676|163,678| ||||||||||19,154|||184,622||203,776|14.580|294,916|309,496| ||Support costs have been allocated||||||as|follows;|||||||||| ||Chantable
activibes|||(above)||||||||||203,776|||309,496| |||||||||||||||203,776|||309,496| |6|Staff costs||||||||||||||||| |||||||||||||||||2023|2022| |||||||||||||||||E|f| ||Gross wages|||and satanas||||||||||||238,765|194,125| ||Employer's||national||insurance|||||||||||21,321|15,873| ||Employer's||pension||conlnbulion|||||||||||7,059|5,734| |||||||||||||||||267,145|215,732| ||The average
number|||ofemployees|||during||the pericd was||||||||| ||The average
number|||of full bme||equivalent|||employees|during||the penod|was||||| ||The total remunerabon|||for|key management||||personnel|was|E65,000(2022 E60,000(.||||||| ||The number
of|staff whose|||emoluments|||were in excess ofE60,000 duriing the||||||year were as|follows||| ||E60,001 - E70,000||||||||||||||||| |||||||||||||||||2023f|2022
f.| ||Staff costs have||been analysed|||as|||||||||||| ||Chantable||activities|||||||||||||197,173|160,900| ||Support|Costs||||||||||||||69,972|54,832| |||||||||||||||||267,145|215,732| ||||||||||||||20||||| ## |7|Tangible fixed assets||||||| |---|---|---|---|---|---|---|---| |||||Long-term||Furniture,|| ||||||leashold|fittings and|| ||||||property|equipment|Total| ||||||E|8|E| ||Cost||||||| ||At 31 March 2022|||13,601,984||301,199|13,903,183| ||Addibons|||||26,370|26,370| ||At 31 March 2023|||13,601,984||327,569|13,929,553| ||Depreciation||||||| ||At 31 March 2022|||2,253,304||262,495|2,515,799| ||Charge for lhe penod||||260,889|24,104|284,993| ||At 31 March 2023|||2,514,193||286,599|2,800,792| ||Met Book Value||||||| ||At 31 March 2023|||11,087,791||40,970|11,128,761| ||At 31 March 2022|||11,348,680||38,704|11,387,384| |8|Investments:
listed secunties||||||| |||||||2023|2022| ||||||||E| ||At 1 Apnl|||||1,319,445|1,214,620| ||Revaluation|||||(49,929)|104,825| ||Al 31 March - madiet value|||||1,269,516|1,319,445| ||The chanty holds 67,757 90income
units||in the COIF Chanlies Invesfmenl|Fund administered|by CCLA Fund Managers
Limited||| |9|Debtors:
amounts
faging due within one year||||||| |||||||2023|2022| |||||||E|E| ||Trade debtors|||||44,287|23,760| ||Prepaymenls
6accrued income|||||89,462|57,916| |||||||133,749|81,676| |10|Creditors:
amounts
falling due|within one year|||||| |||||||2023|2022| ||||||||8| ||Trade creditom|||||28,706|60,222| ||Deferred
income|||||92,561|113,212| ||Taxation and sooal secunty|cost||||95,075|72,622| ||Accruais|||||76,750|4,500| ||Other creditors|||||24,281|15,598| |||||||317,373|266,154| ||Summary
ofmovements|in year on deferred income||||2023|2022| |||||||8|E| ||Balance at 1 Apr|||||113,212|70,000| ||Released
in year|||||(113,212)|(70,000)| ||Defened
in year|||||92.561|113,212| ||Balance at 31 Mar|||||92,561|113,212| |11|Creditors:
amounts
falling due|after one year||||2023|2022| ||Deferred income —Thames|Water rental|income (note 13)|||1,269,534|1,339,534| |||||||1,269,534|1,339,534| ## ## ## ## ## ## ## ## |18|Analysis of net assets between|Analysis of net assets between|funds||||| |---|---|---|---|---|---|---|---| ||||||Unrestricted|Restricted|Total funds| ||||||Funds|Funds|2023| ||||||E|E|| ||Fixed assets||||1,269,516|11,128,761|12,398,277| ||Current assets||||217,168|9,000|226,168| ||Creditors, amounts
falling due within one year||||(317,373)||(317,373)| ||Creditors
amounts
falling due after one||year||(1,269.534)||(1,269,534)| ||Net assets at 31 March 2023||||(100223)|11137761|11037538| ||||||Unrestricted|Restricted|rotai ronde| ||||||Funds|Funds|2022| ||||||E|E|| ||Tangible fixed assets||||1,358,149|11,348,680|12,706,829| ||Cunent assets||||415,326|25,057|440,383| ||Creditors
amounts
falling due within one year||||(266,154)||(266,154)| ||Creditors
amounts faang due after one||year||(1,339,534)||(1,339,534)| ||Net assets at 31 March 2022||||167,787|11,373,737|11,541,524| |19|Comparative
Statements|of Financial Activities|||||| |||||Unrestricted|Restricted|Total|| |||||Funds|Funds|Funds|| |||||2022|2022|2022|| |||||F.|6|5|| ||Income||||||| ||Grants and donations||||416,036|416,036|| ||Hires, box office and catenng|||248,995||248,995|| ||Rental and other income|||283,462||283,462|| ||Investment
income|||36,286||36,286|| ||Total income|||568743|416036|984779|| ||Expenditure||||||| ||Charitable
activities|||539,595|785,434|1,325,029|| ||Total expenditure|||539,595|785,434|1,325029|| ||Net income/(expenditure)|before||29,148|(369,398)|(340,250)|| ||Unrealised
movements|on investments||104,825||I04,825|| ||Net income I
(expenditure)|||133,973|(369,396)|(235,425)|| ||Transfers
between
funds|||(89,009)|89,009||| ||Net movement
in Funds||||||| ||Reconciliation
offunds||||||| ||Total funds brought
forward|||122,823|11,654,126|11,776,949|| ||Total funds carried forward|||||||