Company Number: 04528346 Charity Number: 1102263 Bernie Grant Centre Partnership (A company limited by guarantee) Annual report and financial statements For the year ended 31 March 2024
Bernie Grant Centre Partnership Reference and administratlve detalls Trustees Geoffrey Williams - Chair Emma Bowman Miranda Grell Robyn Kasozi Nicole Le Marie Sam Mackay Robert Muncaster Philippine Nguyen Ngoc Nii Nortey Dlmple Purohit Jonathan Rand Charis Thomas Key Management Personnel Azieb Pool - CEOIArtistic Diractor Company number 04528346 Charity number 1102263 Other Working Names BGAC - Bernie Grant Arts Centre Reglstered Office Bernie Grant Arts Centre Town Hall Approach Road Tottenham London N15 4RX Bankers Triodos Bank Deanery Road Bristol BS15AS Auditors Dunkley's Chartered Accountsnts Registered Auditors Woodlands Grange Woodlands Lane Bradley Stoke Bristol BS32 4JY
Bernie Grant Centre Partnership Trustees, report for the year to 31 March 2024 The trustees who are also directors of the charty for the purposes of the Companies Act 2006 are pleased to present their report together with the financial statements of the charity for the year to 31 March 2024. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity's Memorandum and Articles of AssoGiation, the Companies Act 2006 and the Statement of Recommended Practi 'Accounting and Reporting by Charities, (revised 2015). Structure, Governance and Management Legal status Bernie Grant Centre Partnership is a company limited by guarantee and a regist8red charity. The company was registered in England and Wales on the 6 September 2002 and gained charitable status on the 24 February 2004. Governing Document Bernie Grant Centre Partnership is governed by its Memorandum and Articles of Association dated 6 September 2002 as amended by a written resolution dated 22 January 2004. Trustee8 The directors of the charitable company are also Its trustees forthe purpose of charity law. Throughout this report they are collectively referred to as the trustees. The following individuals served as trustees during the period and to the date of thls report: Geoffrey Williams - Chair (appolnted December 2023) Miranda Grell Robyn Kasozi Nii Nortey Dimple Purohit Jonathan Rand Nicole Le Marie Sam Mackay Emma Bowman Charis Thomas Robert Muncaster Philippine Nguyen Ngoc Sharon Grant OBE Lela Kogbara Malakai Sargeant Elisabeth Ukanah (appointed June 2024) (appointed June 2024) (appoint8d Jun8 2024) (appointed June 2024) (appointed June 2024) (appointed June 2024) (resigned March 2024) (resigned March 2024) (resigned December 2023) (resigned June 2023) All trustees served for the full period unless otherwise indicated above. The charity is controlled by the bDard of trustee5 who meet at quarterly intervals to administer the charity. A CEO & Artistic Director has been appointed by the trustees to manage the day-to-day operations of the charity. To facilitate effective operations, the CEO has delegated authority. within terms of delegation approved by the trustees, for operational matters including finance, employment and artistic performance related activity. Recruitment and appointment of new trustees The trustees who are elected and co-opted under the terms of the Articles of Association may by ordinary resolution appoint a person who is willing to be a trustee either to fill a vacancy or as an additional trustee.
Bernie Grant Centre Partnership Trustees, report for the year to 31 March 2024 New trustees undergo an orientation day to brief them on their legal obligations under charity and company Isw, the Charty Commission guidan on public benefit, and inform them of the content of the Memorandum and Articles of Association and decision-making processes, the business plan and recent financial performance of the charity. During the induction day they meet key employees and other trustees. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role. None of the trustees receive remuneration or other benefits from th8ir work with the charity. Publlc Benefit The Trustees confinyj that they have complied with their duty under Section 17(5) of the Charities Act 2011 to have due regard to the Charity Commission's general guidan on public benefit when reviewing the charity's aims and objectives and in planning futur8 activities. In determining how best to pursue our primary aims and objectives, the Trustees have considered the Charity Commission's guidance on public benefit, including fee charging. This is especially pertinent for the Bernie Grant Arts Centre (BGAC) where affordability, to encourage participation and broaden accessibility, is a key issue for potential users of our services and activities, and also for the hirers and tenants of our spaces. In this context prices - be it for services and activities or hires and rents - are typically set as low as possible for the income g8nerat8d to cover all costs. Objectlves and princlpal activitles The Bemie Grant Arts Centre is a state of the art, purpose-built arts complex in the heart of Tottenham Green, North London, one of the most diverse, dynamic and creative places in the capital. Opened in 2007, the centre was the vision of the late Bernie Grant MP who wanted to create a flagship performing arts centre which would become a home ft>r culturally diverse artists, audiences and entrepreneurs in the cultural industries. Designed by Sir David Adjaye, the complex features." a 274-seat, flexible theatre space; 3 rehearsal spaces, a lounge cinema, café & bars; 20 creative workspaces, around a large open square. Our Mission The BGAC is a unique space which develops, support8 and presents work by Black and minority elhnic artists. We are welcoming to all, but we focus on championing Black artists telling their own stories. We are developing the artists of tomorrow and the audiences of the future. We aim to be a nationally and internationally recognised ntre for the development of diverse cultural and creative practitioners, and to have a demonstrably positive impact on the quality of life of local communities. Indeed, it's part of our vision to make a substantial contributlon to the social and economic regeneration of Tottenham and to the wider artistic ecology. The BGAC is committed to being a centre of excellence in the areas of training, education and learning, and cultural diversity in the arts. Core Aims & Objedives The Bernie Grant Arts Centre's core objectives are to: Cultivate high quality artistic innovative works by Black and diverse artists, through a range of artistic and support programmes. Remove barriers to participation in the arts and pathways into the creative industries: Celebrate the creativity of a culturally diverse population locally, nationally and internationally- Attract and develop new and existing participation in the arts from all communities"
Bernie Grant Centre Partnership Trustees, report for the year to 31 March 2024 Be a cataEyst for the regeneration of Tottenham; Lead on the strategic development of innovative learning and participation programmes for local artists and those in the creative industries. Support the local creative economy by providing managed workspace unitsl business units, buildings andlor land for use on favourable temis particularly amongst those among the Black, African and Caribbean diaspora and local residents in the London Borough of Haringey; strengthening our fin8ncial p6rformance and ensuring we are a robust and resilient organisation. The strategies employed to achieve the charity's aims and objectives are to: Present a broad range of high-quality theatre productions and art exhibitions targeted at the local community and at a wider audience., Present an artistic and creative learning programme that represents and reflects Black, African and Caribbean diaspora communities often excluded from mainstream artistic platforms. Provide an artistic programme that is accessible and gives those often locked out of the arts multiple ways to engage and be involved. Provide small and medium size performance spaces for use by emerging local and regional talent as well as visiting performers; Provide facilities and opportunities for local creative talent to develop and prosper in an environment which is well resourced and controlled by a diverse local community, for the benefit of that community,. Provide facilities and support for artists to develop. Groups in the borough are given discounted rates for hire of space and access to professional advice., Concentrate on engagement work targeted at involving young people from one of London's most dlverse and deprived boroughs to bridge the arts participation gap. Achievements and performance Artistic hlghllghts In the year to March 2024 We opened the financial year on April 3rd with our Easter Camp. Partnering with Dox Dancers of Excellence, we delivered a special Easter Holiday Performing Arts & Dance Camp with daily workshops. for young people, aged 7 - 12 years old. Classes covered dance disciplines including African, Street, Breaking, Freestyle and Poppin n, Lock-in,, as well as Performing Arts and Gymnastics. All levels of ability were welcome and the sessions offered over 40 young people a great opportunity to learn new skills and make new friends, while supporting local parents with an affordable and creative engagement option. April also marked the annual Bernie Grant Lecture, presented this year by Professor Nicola Rollock, Professor of Social Policy & Race at King's College London. Professor Rollock reflected on the landscape of racial justice in the years following the murder of George Floyd. The talk was followed by Q&A after the lecture was well received by our audience who actively participated. On Friday 28th April, in line with our commitments to support up and coming creative companies, we hosted Alison Ray Dance company's piece - 'Unknown Soldier,. The work celebrated and honoured the Black British War veterans who fought in WWI and WWII. The piece also shed light on the often forgotten Black women who formed part of the War effort during this era. The Choreography and Concept created by Alison Ray MA, used Dance, Text. Live Music and visuals to create a poetic performance about these soldiers from Britain, The Caribbean, and Africg. From the 13th - 15th fviay, we fomed a partnership wiÉh Breakin, Convention, the UK'S largest Hip Hop festival, with the aim of devising and developing new work in a one-week mentorship
Bernie Grant Centre Partnership Trustees, report for the year to 31 March 2024 program involving 6 BlaGk artists. The primary focus was on nurturing theatre skills within hip hop artistslperformers and exploring innovative ideas. The main objective of the showcase, titled 'Open Art Surgery., was to enable the artists to re1ve valuable feedback from the audience, with facilitation provided by the r6nowned Jonzi D. Throughout 2023 our monthly film night, Black Lens, continued. Working in partnership with Ihe BFI, this series of intimate film screenings highlighted intersectional Black identities and offered a sustainable point of engagement for our local audiences. Monthly screenings included: Black Mother (2018), Check It (2016), Necktie Youth (2015), Rag Tag (2006), Neptunes Frost (2021), Pier Kids (2019)- In June, we hosted a special screening of The Harder They Come (1972) as part of our Windrush programme. Over 200 guests have joined us for screenings to date. June marked our annual Windrush 75 Festival. Energised by Profassor Laura Serrant's poem 'You Called.. And We Came. our 4th Windrush Festival paid tribute to the hopes and dreams of the Windrush generation through an ambitious programme running from Monday 19th to Saturday 24th June. Celebrating 75 years since the MV Empire Windrush arrived in the UK. Our whole venue was animated by a line-up of film, live music, art exhibitions and other incredible Black talent, as we came together to celebrate the Windrush legacy. This year we were successful in our Windrush Festival funding bid from Near NeighbourslDCHL (£40k), and were able to present a rich and well-attended programme including: Community Think-in: held on May 18th, we invited members of the IoGal community into the centre to hear about our upcoming plans and give their thoughts on the Windrush events. This was the first in a series of community connection sessions designed to help us work more closely with local voic8S to inform our future programmes. In School Workshops: Across the month of June we worf(ed with over 200 young people across 4 schools, arranging and hosting workshops with leading artists and facilitators to help them understand and express the Windru8h experience through drama and movement. Schools Day: On Thursday 22nd, Windrush Day, we hosted our major schools sharing day where the young people from the workshops programmes came together to share their perfomiances to their fellow pupils, teachers and facilitators. Arts Bridge Workshop: On Monday 19th we welcomed 200 young people from Chestnut Primary school to work with our partner Arts Bridge for a day of workshops inspired by the Windrush Story. Arts Bridge Elders.. On Tuesday 20th we launched our beautfful Windrush Elders portrait exhibition in our foyer - featuring portraits of Windrush Generation individuals along with a series of QR codes that when scanned, allowed you to hear the stories behind their faces. Earlier in the month we hosted Arts Bridge in one of our studios for the Elders photo shoot. Film Screening & Reggae Choir: Thursday 22nd marked a special screening of classic film, 'The Harder They Come, with a live perfomiance from resident group: The Reggae Choir. Over 100 people attended, joining in with the choir performances before watching the film. Pegasus Opera: Our VIP event on Friday, June 23rd was followed by a special Windrush 75 Anniversary performance from Pegasus Opera. Featuring a range of Windrush inspired songs from their current touring productions, the performan was attended by 125 people. Then on Friday June 23rd, we were delighted to host a special VIP private view and talk with artist Elsa James to launch her new. semi-public art installation in the front of the Bernie Grant Arts Centre building: 'Ode to David Lammy MP,. This stunning neon artwork is inspired by an emotive speech by the Tottenham MP in 2018 responding to the Windrush scandal. The artwork was on display in our window gallery until October. The VIP event was attended by over 65 people including partner contacts, board members, individuals from our funder organisations as well as a
Bernie Grant Centre Partnership Trustees, report for the year to 31 March 2024 number ofthe Windrush Elders. Speeches were given by Elsa James and the deputy Mayor of Haringey Councillor Ajda Ovat. Saturday June 24th marked the biggest of our Windrush events, the Windrush Block Party in our square. Featuring workshops from Witty Ditty Designs, Mangoozkids & Disco Loco, and delicious Caribbean food stalls from partner Black Eats, the day was a celebratory series of performances, engagements and inter-generational fun. Over 500 attendees enjoyed perfomiances from Steppaz, Reggae Choir, Germane Marvel & Friends, Rhythm of the City, Dionne Reid and our host Wild G. We also had music from DJS Chantz Dee and Donnie Sunshine. Tickets were available from £5 with our accessibl8 Pay What You Can (PWYC) offer, with free tickets for under 2s and over 65s. We were delighted with the range of people in attendance, with ages spanning from babes in arms to those in their 90s all coming together to spend the day. With events tsking place across all of our main spaces, we engaged a total of over 1,000 guests, including 300+ young people from local schools in our Schools Day. 30 older generation guests in our Windrush Elders Project. and over 500 people on Windrush Festival day. Our sumrner programme continued with our three week, performing arts summer camp, for young people ages 7-16, in partnership with Haringey Council. Weeks one & focussed on theatre and performing arts skills for ages 12-16 in collaboration with local facilitstors and we8k 3 was run by our dance residents, Steppaz. engaging 7-11 year olds in foundational dance. By securing funding from Haringey Council we were able to offer 25 children, who received free school dinners, a free place on this programme, At the end of each week there was a group performance in the theatre attended by teachers and parents. We also offered a free breakfast club and free lunches to support community need. October marked BGAC'S 2023 'Black Celebration Month,. We hosted a month-long programme of photography, movement and music workshops in collaboration with Haringey Feast for the local community and on October 12th, a major event was hosted in collaboration with Haringey Council to launch the BHM365 campaign. Then on Friday 27th October, we collaborated with Rise Projects to host 'Somali Culture Night 2023, at BGAC. Supported by Haringey Council, the event provided BGAC with an opportunity to lebrate the rich history of tha Somali community living in Haringey, the event was sold out and attended by over 200 people. Over 500 IoGal people were engaged across the month, mostly through free programming. Continuing our collaborations with Haringey Council, October also marked the launch of the 'Tottenham Tapestries, _ p8rt of our Hi! Culture programme funded by Historic England in partnership with Haringey Council, Bruce Castle and North London Community House. Five colourful vinyl tapestries, created by local artist Andrea Ling, were installed across the BGAC site. QR codes were included on each t8pestry to allow for guests to dive deeper into the stories behind each work. Through the stories and art, the public art tapestries highlighted the area's history but also fostered a sense of connection and pride among participating residents. November welcomed the fifth annual Tottenham Literature Festival. Building on its reputation as one of the UK'S leading literature festivals for work by Black authors, poets and artists, the festival returned to BGAC from the 13th-19th November. This year's festival insluded a range of talks. events, film screenings and workshops under the theme of the Black expeiience through the lens of the human body. #TLF23 authors included: Dr Ronx, Gary Younge, Liv Little, Bolu Babalola, Joelle Avelino, Annabel Sowemimo, Kehinde Andrews, Chloe Pierre, Jimi Famurewa. Kandace Siobhan Walker, Claire Ratinon, Jay Lance. Lateshia Howell, Sister Woman Vegan, Ezra Lloyds- J8ckson and Cecile Emeke and others. The festival included an extensive free programme as well as all ticketed events starting from £5 as part of OLtr Pay What You Can scheme and engaged over 650 people. During TLF week we also ran 'Tottenham Big Read,, a partnership between BGAC
Bernie Grant Centre Partnership Trustees, report for the year to 31 March 2024 and The Reading AgenGy, that saw us give away 200 free copies of Dr. Ronx's children's book- 'Amazing Bodies, to the local community. On Thursday, 16th Novemberwe launched our first formal exhibition, 'Bound' by Simon Wheatly, funded through Freelands Foundation. The exhibition was a photographic collage of the communities that required and sustained Grime as an artistic act of social resistance. The exhibition launch was attended by over 100 people and the exhibition continued to bring BGAC new aUdIenS we@kly to see the work. On Sunday 19th November BGAC cornmissioned a community performance as part of Haringey Councils borough wide event 'Haringey Feast, at Alexandra Palace. This commission was a collaboration between our in-house associate companies Steppaz, Reggae choir and local spoken word artist Tim Forde, with a total number of 40 local participants. The Haringey Feast gathered over 500 local pgople to enjoy live music, dance performances, and spoken word artistry celebrating the borough's rich cultural tapestry. In the lead up to the main event, BGAC hosted 18 workshops on site engaging over 200 people, offering in-kind space to 5 local arts & cultural organisations offering dance workshops, photography classes, craft workshops and more. Then in late Novemb8r, BGAC presented 'High Times and Dirty Mon8ters' in our maln theatre as part of our partnership with 20 Stories High, Graeae and Liverpool Everyman. A ground-breaking Hip-Hop theatre show explorlng the good times, heartbreaks, and systemic oppressions of Deaf, disabled and neurodivergent young people and young adults in the UK. We welcomed over 250 guests across the three show run, and learned a great deal about our accessibility goals as a result of the project. In December, we presented R8filwe - our first ever home-grown piece of theatre, made in partnership with Talawa & National Youth Theatre, executive produced by BGAC & directed by Azieb Poo5. Adapted by Bisola Alabai, from the book by Zukiswa Wanner, Refilwe takes the classic fairytale 'Rapunzel" relocates the story to Tottenham and gives it a contemporary twist. Marking a significant step-change for BGAC, the production was an opportunity to meet our ambition of redressing the lack of Black led high quality productions, launch ourselves into the sector as an originator of work and, with a majority Black cast and creafive team, provide high quality employment opportunities for Black creatives. A total of 626 people attended the run at BGAC across 10 performances with large groups engaged from three local schools.. Crawford Primary, Lancastarian Primary and Risley school. The run then continued at NYT from 13-17 December and then Talawa as part of Croydon Borough of Culture from the 20th - 23rd December. 'Thank you so much for what was really an unforgettable experienGe today.1 For several of the children it was their firsf trip to the theatre and they absolutely loved it. Such an engaging show with a great message. The children were very intrigued by the Set and the lighting, and how the whole thing was put together. Refilwe's silver trainers hav8 already gained an iconic status in Year 31" Yr 3 teacher, Lancastarian Primary School In January and February. our theatre was the venue for rehearsals and Performan space booking by Urdang Theatre, bringing in much needed commercial revenue. Finally. in March. we closed out the financial year by hosting a series of'Haringey Fiinge, ev8nts as part of our ongoing 'Hi Culture, parthership with Haringey Council's Regeneration Team. A three year programme supported by Heritage England, the programme is designed to engage local
Bernie Grant Centre Partnership Trustees, report for the year to 31 March 2024 audiences in culture up and down Tottenham's High Road. Prlnclpal rlsks and uncertalntles (April 2023 - March 2024) The Trustees have reviewed the key strategic, operational, governance, and financial risks that the charity currently faces, Systems and processes remain in place to mitigate these risks, adapting to emerging challenges as needed. Opening the building to the public outside of their attendance at events in June 2023, while positive for engagement, introduced new financial and operational pressures. This decision required careful financial planning to ensure sustained support for day-to-day operations without compromising financial health. The ageing fabric of the building, particularly the rcK)f, presents a considerable financial liability. Roof repair costs have created ongoing budgetary strain, adding further pressure to both reserves and cash flow. Trustees and management are actively exploring funding and partnership options to address these high-priority maint8nance needs. The lean team continues lo handle an expanded workload, with recruiting challenges in critical areas such as fundraising and facilities management. While efficient, the team remains stretched, impacting our ability to meet broader organisational goals. This limited capacity is under ongoing review to ensure staff well-being and op8rational effectiveness. The insolvency of our former tenant MTA and resulting outstanding debt continue to strain financial resilience. Efforts to manage this shortfall involve active debt recov8ry, and expense reduction measures, though financial pressures persist. Toward the end of the year th6 board took the difficult decision to inGTease rental charges on our Enterprise Units for the first time in several years in order to contribute to cost recovery. The new priS remain significantly below market rents in line with the Centre's mission and the Board took steps to ensure tenants were actively engaged and to explain the changes in order to minimise the reputational risk. The NPO grant from Arts Council England (ACE) was only 620/0 of the originally requested amount, requiring the executive team, in collaboration with ACE, to adjust programming and budgets for the ACE funded part of our work. This process in ongoing as we strive to raise further funds for our wider programme. The necessary reduction In programming to maintain financial balance has been uncomfortable in the context of the Board's ambition to sustain a higher level of activity that is financially viable at this point. To address this, we continue to prioritise impactful, stralegically selected events, while transparently communicating constraints to our community. The recruitment of a new Chair of the Board, along with six additional Truste85 in June 2024, represents a signrficant step in bolstering governance. These appointments bring fresh perspectives and expertise to the charity's leadership, strengthening oversight and risk management capabilities. The Trustees and executive team maintain ongoing vigilance over financial risks, including reserves and cash flow sensitivity- This includes regular reviews of liquid funds, debt management, and creditor relationships to ensure sufficient working capital is available. Additionally, the Finance and General Purposes subcommittee provides continuous oversight. with risk register reviews as a standing agenda item.
Bernie Grant Centre Partnership Trustees, report for the year to 31 March 2024 Future plans As we move into our second year of NPO funding, we are focused on advancing sustainable improvements across our building, program, and organisational infrastructure. The predictable, quarterly funding provided by NPO continues to enable strategic, long-temi planning across programming, staffing, commercial activities, and governance. This sustained support allows us to focus more confidently on impactful growth and st8bility within the Centre. We are fortunate to continue our partnerships with P8uI Hamlyn Foundation, Freelands Foundation, and Baring Foundation, whose support is instrumental in expanding our artistic programs and community engagement. These relationships provide vital resources for new initiatives, including our signature Windrush 75 celebration, in June 2024. The £150k Arts Council Capital grant also offers us an invaluable opportunity to address essential building renovations in our cafe, gallery and box office spaces. Planned work, set to commence in April 2024, will support improvements to the building's infrastructure, enhancing both functionality and visitor experience as we work to open the new Mezzanine Gallery in partnership with curator Ronan Mckenzie. With the addition of key team members a Senior Producer and a Marketing & Audience Development lead-our capacity to deliver on our ambitious goals are realistic. Once recruited, these roles will strengthen our programming and outreach capabilities, supporting efforts to engage broader audiences and deepen community ties. The recent recruitment of new Trustees has infused the Board with fresh perspectives and expertise. A newly established Fundraising Subcommittee, set to launch in June 2024, will further support our financial sustainability, with Trustees actively engaged in securing the resources needed to meet our mission. Keeping the building open to the community and available for commercial hires and cafe operations is central to our commitment to accessibility 8nd financial viability. We continue to balance community-focused events with revenu&generating activities to ensure a vibrant, welcoming space for all. Our artistic vision will continue to be strengthened through our signature programs, including the Windrush Festival, Tottenham Literature Festival 2024 and the launch of our new gallery space. These upcoming projects highlight our commitment to presenting innovative, culturally resonant work that amplifies Black voices and perspectives. In alignment with our strategic priorities, we are dedicated to further building our funding pipeline, strengthening our operations, and enhancing our impact on the community. Our ongoing work across these areas will shape an exciting and sustainable future for the organisation. Financial review The year under review was in financial temis 8 challenging but ultimately successful period for the charity.
Bernie Grant Centre Partnership Trustees, report for the year to 31 March 2024 Importantly as discussed above it was our first year as an NPO and the £307k NPO grant received in year was the reason for the 61¥0 increase in grant income from £454k to £733k and a £300k 135% increase in total income to £1.148m (2023, £848k). Income generation elsewhere remained difficult. During the previous year we suffered a 6-figure loss of income after our previous tenant the Musical Theatre Academy (MTA) went into liquidation in November 2022. MTA had rented 2 floors of our Hub Building on a 1 &year lease to February 2030, producing annual income in the region of £100k. As well as the loss of income the charity has had to invsst a significant amount of time and money bringing the premises back to a rentable standard and marketing the space which is not an easy task in the current economic climate. Total spend increased by £190k1150/e to £1.493m (2023. £1.303m). NPO status saw more funds invested our own artistic output than in previous years through both an increase on the direct costs of our artistic programme by £72k1450/0 to £233k (2023, 161k) as well as more in house provision through the salaries of newly recruited production and the hidden cost of premises allocation making spaces unavailable for hire. Extemal factors also created spend challenges in the year with the £74k1290h increase in premises costs to £334k (2023, £259k) driven mainly by energy prices. These factors Gombined to give a bottom line deficit of £229k for the year, spllt between a deficit on restricted funds of £233k (due mainly to the depreciation of the Centre's buildings which is charged to, and fully covered by, the fixed asset fund) and a small surplus on unrestricted funds of £4k. This performance represents a significant year on year improvement given the £268k deficit on unrestricted funds of the previous year and the ongoing income generation difficulties mentioned above. Undoubtedly there are many financial challenges ahead as the cost of living crisis replaces Covid- 19 as the main threat lo the economy. However, the trustees remain cautiously optimistic that NPO status means the charity is positioned to get through the difficult period ahead and build for the future. Reserves Restricted funds decreased during the period by £234k to £10.904m (2023, £11.037m). This 18 due almost entirely to the premises depreciation charge of £261k pa charged to the fixed asset fund. This fund will continue to decrease over the coming years as our interest in the propety is amortised over 52 years. Following a surplus on unrestricted funds for the period of £4k (2023, deficit of £268k) the balance of unrestricted funds was -£96k at th& perlod end (2023 4100k). This figure represents the charity's reseNes. The Trustees believe that the Centre should endeavour to maintain a reserve level equivalent to 3 months of total expenditure less depreciation which is separately provided against. This amounts to approximately £301k based on the current period's expenditure. Despite the set-back of the 2022-23 financial year the charity has made significant overall progress in recent years - reserves stood at-£637k at 31 March 2020. Nevertheless. in the current circumstances we are likely to see a depletion of reserves in the period ahead before returning to an upward trend, so reaching the target level may take many years to achieve. statement of Trustees Responslbilities The trustees (who are also the directors of Bernie Grant Centre Partnership for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial 10
Bernie Grant Centre Partnership Trustees, report for the year to 31 March 2024 statements in accordan with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair vi8w of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charity SORP. make judgements and estimates that are reasonable and prudent; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continua in business. The trustees are responsible for keeping adequate accounting records which disclose with re8sonab18 accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. statement as to disclosure to our auditors In so far as the trustees are aware at the time of approving our trustees, annual report.. there is no relevant infomiation, being information needed by the auditors in connection with preparing their report, of which the auditors are unaware, and the trustees, having made enquiries of fellow directors and the auditors that they ought to have individually taken, have each taken all steps that helshe is obliged to take as a director in order to make themselves aware of any relevant audit informatlon and to establish that the auditors are aware of that information. Small company provlsions This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006. This report was approved by the Board of Trustees on 12 December 2024 and signed on its behalf by: Jonathan Rand Trustee
Report of the Independent Auditors to the Members of Bernie Grant Centre Partnership (Registered number: 04528346) Oplnion We have audited the financial statements of Bemie Grant Centre Partnership (the 'charitable company,) for the year ended 31 March 2024 which comprise the Statement of Financial Activities. the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the state of the charitable companws affairs as at 31 March 2024 and of its incoming resources and application of resources, including its result, for the year then ended; have been properly preparèd in accordance with United Kingdom Generally ACpted Accounting Practice. and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical reqU1ments that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordan wlth these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relatlng to going concern We have nothing to report in respect of the following matters in relation to which the ISAS (UK) require us to report to you where: the trustees, use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charitable company's ability to continue to adopt the going concem basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. 12
Report of the Independent Auditors to the Members of Bernie Grant Centre Partnership (Registered number: 04528346) other infomiatlon The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other infomiation and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Oplnions on other matters prescrlbed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and the Report of the Trustees has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exceptlon In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. We have nothing to report in respect of th& following matters where the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or the financial statements are not in agreement with the accounting records and returns; or certain disclosures of trustees, remuneration specified by law are not made" or we have not received all the information and explanations we require for our audit; or the trustees were not ents'tled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. Responsibilities of trustees As explained more fully in the Statement of Trustees, Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary 13
Report of the Independent Auditors to the Members of Bernie Grant Centre Partnership (Registered number: 04528346) to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going conrn and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations. or have no realistic alternative but to do so. Our responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Indepandent Auditors that includes our opinion. Reasonabl8 assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uklauditorsresponsibilities. This description forms part of our Report of the Independent Auditors. Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent pemitted by law, we do not accept or assume responsibility to anyona other than the charitable company and the charitable company's members as a body, for our audit work, for this repo¢ or for the opinions we have formed. Matthew Dobbins FCA (Senior Ststutory Auditor) Dunkley's Chartered Accountants Registered Auditors Woodlands Grange Woodlands Lane Bradley Stoke Bristol BS32 4JY Date: 14
Bernie Grant Centre Partnership Statement of Financial Activities (incorporating the Income and Expenditure Account) for the year to 31 March 2024 UnrÉstrlctèd Funds 2024 R8strlcted Funds 2024 Total Funds 2024 Total Funds 2023 Income Grants and donations Hir8s, box office and catering Ronlal and other income Inv?5tsrenl incom8 433,762 251,599 127,002 37.579 298,835 732,597 251.599 127,002 37,579 453.863 199,181 157.592 38,170 Total Income 849,942 298,835 1,148,777 848,806 Expendlture Charitable activitie9 864,608 828,179 1,492,687 1,302,863 Total expendlture 864,508 628,179 1,492,887 1,302,863 Net In¢ome l {expendlture) before Investments galns I losses (14.566) 1329,3441 1343,9101 (454.057) Unrealised mov8m8nts on Invostmenls 114,743 114,743 149,9291 Nel Income I iexpendlture) 100,177 {329,3441 1229,167) (503.988> Transfers b•tw•an funds 195,7941 96,794 Net movemont In Funds 4,383 1233,5501 1229,1671 1503,9861 Re¢on¢lllatlon of funts Total funds brought forward {100,2231 11,137,781 11,037,538 11.541,524 Total funds carrled forward 195.840) 10.904,211 10,808,371 11,037,538 The statement of financial activities includes all galns and losses recognisod in thg p8r(od. Atl income and oxponditure derives from continuing acts'vities. Details of ¢omparativo figur8s by funds are disclosed in note 19. 15
Bernie Grant Centre Partnership Balance Sheet as at 31 March 2024 2024 2023 Note Fixed assets Tangible fixed a55ets Investments 10,878,601 1,334,259 12,212,860 11.128,781 1,269,516 12,398,277 Currerrt assets Debtors Cash at bank and In hand 162.759 65.432 133,749 92,419 228,191 226,168 Credltors: Amounts falllng due withln one year 10 (433.146) (317,3731 Net current assets (204,955) (91,205) Total assets less current Ilabllltes 12,007,905 12,307,072 Credltor6: Amounts falllng due after one year {1,199,534) 11,289,534) Net A66ets 10,808,371 11,037,538 Capital and reservo8 Restricted funds Unrèstrictéd funds 10,904,211 195,840> 11.137,761 (100,2231 12 10,808,371 11,037,538 The financial statements have been prepared In accordan with the special provisions of Part 15 of tha Companies Act 2006 relatlng to small Companles and are for circulation to members of the company. Th8 financial statemgnts were approved by the Trustees on 12 December 2024 and signed on their behalf by: Jonathan Rand Trust88 Company number Q4528346 Is
Bernie Grant Centre Partnership Statement of Cash Flows for the year ended 31 March 2024 2024 2023 Net Income/(expenditure) for the reportlng period (as per the Statement of Flnancial Activities) (229,167) (503,986) Adjustments for: Depreciation charges Investment income (Increaseydecrease In debtors Increa8el{decrease) in creditors (Gains)Il¢)sses on investments 287,790 (37,579) (29,010) 45,773 (114,743) 284,993 (38.170) (52.073) (18,781) 49,929 Net cash provlded by (used in) operating aGtivities (76,936) (278,088) Cash flows from investing activities Investment Income recelved Sale of investment assets Purchase of fixed assets 37,579 50,000 {37,630) 38,170 (26,370) Net Gash provided by (used in) investing activities 49,949 11.800 Net increasel(decraase) in cash and cash equivalents <26,987) {266,288) Cash and cash equivalents al beginning of year 92,419 358,707 Cash and cash equivalents at end of year 65,432 92,419 17
Bernie Grant Centre Partnership Notes to the accounts for the year to 31 March 2024 1 Principal aOUntIng pollcies 1.1 Basls of preparatlon olltnan¢lal Statements These flnanal stalements have be8n F(opared undwthe lystorlGal ccst CCventIon In armrd8nce wih ts S18tement of RecCnded PraGUc¢ forChailtle5 ISORP 20151 (Send Edition, èffectlve 1 January20191, UK accounttng st&ndards, induding'Financid Reporbng St8nthTd 102 Th8 Financial Reporting Standard applicab in the UK and RBpubliGof Iieland, IFRS 1021 and Ihe CompaniesAc1200e. The charity meets the defiThilion of a publK benerrt enltyund8rFRS 101 1.2 Oolng GonGer The Truslee8 ¢onsld¥ thatlhe prepaTalknn of the aOunt$ on B gdng concern basks Is approprfate. Th? chaty IsrtepEnd&nt upon grant Income, wbld) 1$ sublectlo efjnslderable uncertainly. Howaver, th&Trustees ndeT Ihat the charitys a55et basB wNSd be suffKient (o provlde E8curtyto eae th&charity loobtain lo fince tn the event Ih&l addluW Ilquldltywa$ quired to meet operating cash flows. Receipt oftha Tham6$ Walwrental InClle as a lump sum bas provl(led addllional cash resourGeB to fDnlinue operatlons as a The Truslee8 ¢nuallYmOn1l0r Ihp fInancl p051tson ofthe charitsbk tr)mp8ny satisfjèd that il 11 Conts"n to b8 trj meèt tts goIng tiahlilès as theyfall due. The flnandal 61alem8nls do not InGlu¢& anyadJuJtmenls whith would BTise from its failure to rneet fole518 and to OPL4rdlL? wlhln Its apr••d finaTh fadlltlès. The Tru8te88 bel8v8 Ihere ba no materfal uncertalntles abOt Ihe abAIty ofthe ¢harlty to ts)ntIn aB a uolng Concern. 1.3 Judgments and keysoUr5 of¢stIm1On uncgrtalnty The prepardtion of financial st8tèm8nts In ¢ornpllance ryIh FRS 102 re(WiT85 the us8 ole8rtaln ¢#llcal a¢countlng esMate It atso regulres fflunngemenlto exerds8ludgrn8nt In applylng Charitys 8rx¥JunUng polld•s. The keYlUdgentts Ihat h&vp been applied by mtr)ement relate EwMrni¢ usgfu1 Ilfo oftanglbb fixed 0$8el$ thld) Is In th• d#¥}10n ratès apd and ar& dHGU5ÈtrJ In CeLmting policy not& 1.8. IiJwBnce fLYdoubtful rec81vable$. At each reporting dale, the Charitywalual88 Ihe r£eTabIlItY gftrode rgGefv8ble¥ and réeord allow8fjeb lor doubfful receiv8e$ ba66d on ttxpeen. These allowance8 are baB8d on, 8mngsl oth8r things, a rndratIOn of aGlual wllLicliuii hiJtory. Tho actuyl level Df recdv8bles CL4teded maydlfferfrorn esltmaled levels of recovary, whl¢h ¢Jouk1 Impmdoperating reBult8 P05iIIv8ly or rgatlvdy. 1.4 Fund actountlng GBIiL¥yI fuiidb UtL' unreslriGted fundswhlch are av8ilabl? for u8e at Ihs dEs¢r•tton ot th• bwsl••s In furth•rnnc• of th• g8n•MI ¢jbIlIV•S of th• company and vh)Ich have not be degnated lor other puTro8es. Reslrt¢tsd Nnd$ are tulld8 whlch are lo be 8 th aGcordance vdth 8pedflc re¥WGtionB impu%d bydcnoJ5 which have been rwsed bythe ¢xrnpwny for particular purposes. The cost ofr8lslng and admIneN such funds we uh8rg8d au8ln81 th8 spedfio fund. The alm and use ofe8c* reslrtcted fund l? ¥el cul In the notes lo the flnarKlal stal8m•nts. 1.5 In¢om• All Inwm• 1$ Inejudid In Ih Statémtntof Financial ACIWIt&When th8 Mpanys entllled lo thè Ineome, it IB probable that IhE Incorne wll b8 rgcelv8d and It con be measured reliobly. Lease Incom• from operntthg 1$•4 Is rèthgnl8ed on a str81oht lin8 bosisoveTth8 leaee terrn. VVh6re appqiGllble. leeso InntiVeS are reca9nised a6 8 reduGbon lo inwmp overth8 lease term on a stralght lino bsFIs. tfiV8Btsnent Income relates to Inter88t and dhAdend eamingg from the ¢harlVs Invostm¢nt In th• COIF Ch8nii8s Investmert Fund 8dministered by CCLA Fund Managers LSmlled (see fKle O bEI(Ml. The dlvidend l? recoonlsed 41 Ihe earllerof th• dat• when chartys Mght to payrnenl i& é81ablish8d or the fjat6 of ¢ash re¢&pt. 1.6 Exp•ndllur• All 8xp?ndJture is arMun18d for on an oGGruals b4Bis arKI hbs bBOll Indudod under ?xpqn5e Categc]e5 Ihat aooiegate all c06Es forallocRtion to 8divilies. Where o)sts eannot be dlrecllyattributed io parbculaT pKUvllle¥ they hav• b•èn alloGattd on a baaiy conwstent wlh th8 use ol tha re$our¢e6. Charflable expendIlu ci)rnpTrses 8cbvtlkts Und8rfakenwhh e dtre¢Uy¢dentifiablp aE wholty or malnly)n support olthe Companls oblectl¥e8. SuppDrt co81s fjre IhoBe coBtB that assl81 the w)rk of the ¢h8dty butéo notdiTecUy rewesenl tharftaNe pKIlIeS ond Indude admlnlstratlon &tarrcost, offbtre aryl Inan¢e. ThelralIo¢a0n to activllies are basL un floor area. Qo¥ernance ccÉl88re lknse pnsls SncurRd In connecu¢th slJateui¢ adMinliat)n 8nd coTnNkno8vAlh consittulJ'oTral and 51elutory requlrernent& 1.7 Op•railn9 lea$o$ RÈnlals spplicable to operatlng lèases whÈre subslantlHlly the benefits Bnd riBk5 ofovmer8hlp remaSnvAth the lesBorare chawed to the Siatement of Financlal AGllvWe5 a5 InGvrred. 18
Bernie Grant Centre Partnership Notes to the accounts for the year to 31 March 2024 1.8 Tanglble Ilxed z95ets and dpprÈthation 1855EtS C06tino rnre than £1,OCI) are capKialt6Ed. Costs Incurred to date in Ihe devel£yrneDt of the geinle Grant Arls Centre have b88n rAptidised a5 l¢W te leaBehold wopertycosts and amoriised 52 years fr(m 1 O¢tober2013. Depreclallon Is provided at rate5 cknulaled to wAt8 ottlh8 coytof fixed 8$8el$, less rth"r 88tirnatEd residual v81ue. OV thwr ex&EGted useful nvgs on tho fOIkThng bas85-. Furnfture and fiitirvJ8, Techr&cal eqUrnent, Coryuter5- 25% sbmlght Ilne Lor4 term leasehold properly- over 52 sears 1.9 Investmqnts xed asset Inv8stmenl8 8re & fL offinandal Instruments and Iniballyrecowlseij attheir Iransacion wst and sub&equeTrtly measured at (w'rvalue allhe BalanGe Shgeldate, un19S8 lairvalue cannot be mea6Lwed rollatAy Inwhlch cas? It b measured at 8t less Impalrment. Inveslmenl gair% @nd IoBseg, whelherreallsèd or unraalisod, are combthed and 8hty*n In the headkng S1110sBe8I on Investrnents. In Ihg stalBmentof firTlE1[ 8CtFvlties lnwrp0th'ng inryjtne and expendllure aGwunL 1.10 Penslons Tho ILWDPiiny operates 8 daflned ojntribulion pens BGheme. conlrfbul1S paYae foithe year8re charged In the 8tstement ol Flnancld ActivilEs. 1.11 Flnan¢lal Instruments The charity ha8 enty flnandal &ss8t8 and liakn1es of a kind Ihat quallfyas basic finHni¥al InstnJment& B8BIG Inancial instwments are Inttielty fecognlsed attran5acts.on vdue arKJ 6ub8equenlly measured allh8ir Belllemenl valuè. 1.12 Taxatlon Tho C¢rnp8ny4s a iegl$leTed ¢harltyand18 rijl subleGt ID cofpoTation tsx on Its ourrenl aolNiIR& 2 Grants & donatlon$ 2024 2023 Art8 Counoll London B0mU olHailnqey Paul Hatn1yn FDun(latbn Freelands F4undatlon DCIIA I ChUh Usn Fund Talaw8 Th88tre Company Nalonal Youlh Theglre The Foyle Foundallon The F¢yJndalEon Greater London Authority Otrffjrgrants and donaUons 380,023 98,348 88,QOQ 80,000 40,000 22,474 72,474 184,933 68.990 120,000 40.QJO 18,000 9,040 12,9DD 1,278 732.597 453,863 Hires, box offl¢e and catering income 2024 2023 Hlres IneL)mts 8oxcifice reClp1S Cofé income 207.079 23.806 20,714 140,702 45,046 13,433 251.599 199.181 4 Rental and other Income 2C24 2023 EntetPli8e Lmit rentsl Thames Walerrental Carpamng space InMe OlhBr Hb tAJllding ienlql 70,937 37,917 18,130 18 58,384 70,000 14,921 10,000 4,307 127,Q02 157,592 19
Bernie Grant Centre Partnership Notes to the accounts for the year to 31 March 2024 5 ExpenditUTe Unrestrl¢ted fLbnd5 2024 Restrlet•d funds Ttstal tund8 Vnr•strl¢t•d funds 2023 Restrl¢ted funds Total Jnds 2024 2Q24 2023 2023 Charltable adlvllhs 245.823 180,411 289.988 21.5 ,214 25,762 42,669 211,824 288.677 281,1)37 156,173 333,657 233,329 288,861 14,783 184,847 1,492,687 122,206 177.167 254.345 50.721 74,967 49,987 4.945 110.e75 264.691 197.173 227,154 259.290 161.396 2B4,691 Consultants & freelance staff Pr8mise8 Progrèmme Depr8cL9Uon Other dlreGt 008ts 8uFPJrt Costs Total thal•b* a¢tlvltl•$ 14,783 161814 172 857 302 178 159 684.50 828,179 777,296 525.567 1.302,803 Total axpon¢Mtu 8840& 828,179 1,4Yd,187 777,296 025.5e7 1,302,3 Support eosts Governan fvnctlon 2024 G•n•ral •upport 2024 Oov•mAn¢• funetlon 2023 G•n•ral support 202a T¢tal 2024 Total 2023 8taff ConBull8nt8 Le0FJI & prof10n81 A(¥Jll f•è Olfice & lldminBlrafi'on Mothellw Olh8r 8.457 1,494 82.840 70.797 1,494 41,980 4,500 36.208 15,105 14,7a3 8,499 4,875 f IA73 43,873 12,022 69,97? 48,748 12,022 4,750 25,310 41,980 4.500 11.296 4,750 1,030 24.91 15,105 14,783 24,280 7,54CI 4,817 4.817 25.746 159,101 1e4,847 19,154 154,005 173,159 Support costs hpv8 been 811ocated Ss foll(yws,' CharftaUe adlvilieB labovpl 184,847 173,159 184,847 173,159 6 Staff costs 2024 2023 Gr089wage$ and salafie8 Empl$ nalbnal thsurance Emplo$ conlrbut 315,680 27,529 8,e76 239,765 21,321 7,059 351.834 207.145 The averdge numberof 8mplDy88s during the period w88 The averngehumber offvii time equIvaltem1IOyee$ durfng the perd was The total remuner8lon lor keymsnagemBntper8oMel was £05,DOD12022'. £60,OUOI. The number Of slaNwhtsse emolumènts We In excess of £60,OCQ during Ihg yeaiwere BBfoilowB'. £eo,001 -£70,OOtl 2024 2023 staff costs have be analysed as.. Chatitable aclivitE8 Support Gosts 281.037 70.797 197,1n fj9,972 361,834 267,145
Bernie Grant Centre Partnership Notes to the accounts for the year to 31 March 2024 7 Tangible fixed a$$et$ L¢ng4erm lea$hold propèrty Furnlturo. Ings and •qulwiÈnt Total At 31 Marrji 2023 AddAIws 13.601,984 327,589 37,630 13.929.553 37.630 A131 arch 2024 13,601,984 365.199 13,067,183 DwKi#tlon At31 M8rch 2023 Charge forthe perfod 2,514.193 260,889 286,599 26.901 2,800.792 287,790 At31 M8rch 2024 2.775,052 313,500 3.088.582 Nèt Book VAIu• Al 31 March 2024 10,826,902 11,087.791 51.699 10.878.601 At21 March 2D23 4D.970 11,128,761 8 Invostmont$.' Il$led 6ecurllle$ 2024 2023 At 1 Aprfl Capllal wllhdrawal Revaluallon 1,2fj9,516 150,Oml 114,743 1,319,445 149,9291 At 31 MarCh-mefftelvue 1.334,259 1,269,516 The charItyho8 85,300.51 Income wlts In th8 GOIF Ch8rltles Inv?slm8ntFutKI thinislered by CCLA Fund Man898r8 Limited. At IhB 5tBrt of Iha year thB charlly had held 67.767.90 incorne uni15 in the fvnd. tkjrfng th8 year 2,457.39 uni16were Gold In orderto rx)nv6rt £5,0 to worksng cHpital. Debtors: amounts falllng dUethIn one year 2024 2023 rrade deblot Prepayments & awjerj Incom& 71,443 91,318 44.287 89,462 162,759 133.749 10 Creditors: amounts falllng duelthIn on6 ygar 2024 2023 Trad& credltors Dpreld incDme Tayailon and 60clal Becurlty cost ArLrual$ OthBr rxedllDTS 72,912 53,e16 87,430 195,900 23,288 28.706 92,561 95,075 76.750 24,261 4,146 311,373 Summory01 mowmonts In year on deferred Irtcome 2024 2023 Balar? at 1 Apr Released In year Dats8d in year 92,561 I92,1) 53.616 113,212 1113,2121 2,561 Balancè at 81 Mar 53,6fj6 92.561 11 CTedltors: aTmUtkis falling due after one year 224 2023 DEfetred incoMp-ThHrnesWal¥reDtsI Snwme (note 131 A¢cwed expen$e- LBH 50% $hare 0fTre& Water ren181 incom8 599,767 599,Te7 834,767 634,767 1.199,534 1,269,4 21
Bernie Grant Centre Partnership Notes to the accounts for the year to 31 March 2024 12 Movements In funds 014n¢• at ot4pr.23 081{1058) on Incom• Spg Tr&nsfqr• 31-Mar-24 Rt$trl¢td Funds Hxed A86ets ACE Gapltal Hi Cultu Tottenham Literatwe Festiv81 w1ndnh Spac& to Dream Refilwe 8arinu6 11,12a,761 1287,79UI 168,9771 144,082) (24.fj031 157,0181 160,397) (82.9101 12.993) 37,630 14,È481 I0,8T8,l 73,023 44,082 1,428 53,757 80.000 46,548 23.175 3261 19,e03 38,373 9,000 6.7 fjt.137,761 298.835 1628,1791 95,794 10,904,211 Unr88trtcted funds General funds 1100.2231 849.942 18e4,SOB) I.794) 114.743 195.8401 1100,2231 B49.942 18e4.5081 195,7941 114.743 195,8401 Total lunds 11.037188 1,148,777 11A9I1871 114,743 10,808.371 Fund FIXLYI A85et8 Pyr This fund rapr888nt81he n6t book vame offflxed ossets. When 6h 4ssets are ptsrch8aed Ihe COBI Is transleired Int¢ the fixed asset¥ fund, ar future depreclaltcn Is Gharged to the fund. Th18 tr8Blm8nt ensuresthe charity8elB asbde the fund6 llBeded lo cover lulure depreciation which wauld otheiS8 be a dran on untrIcted funds kn yoats ahead. 7hls fund prOded muth nBeded inv8stmeThl in ourpr8mi585 Bnd 8endVIe In year InGluded re. corpelino lh8 mezzanlne In ourThealre buldlng and Installlny B new publio 8ddreB8 System, ACE Catal i Cullure Restrted funding r•c•fv8d from Hlstorfe England as part tht nallcfiwldè Hlgh Stroè15 Heritage Acuon Zone81'Hlgh Sliepl prograrnrn8 deslgned to secur8 lasng SmprovomeDts to h18kn1c high strÉfl$ forthe ¢ommunill¢s them. The funding was rex.IvL.d 88 a 8ub*ranl8e of the London BDrough of HHrfngey. Fundlng for thE Tottenham Lllerary Festfv Fundlng for thpWindru5h fe511val. Fundlng from The Freeland8 Foundall¢n lo sUPPQrt a rolllng progr¥rnmeol performan¢e art and xhlbttlons at the Cenlre. Totlenharn LIteratu Fp51ival WindruBh SPH lo DrevJn Refilw8 Fund8 r8ceiv fr Talawa & Nalonal Youth Theatre toward the Ch¥6 of RefiME newtake on Rapunzol for yaungwawJlen¢8$ and the chartty8 flr6t cgInal 6tage Fyoduolton qince gnIng NPO status In 2023. A gronl to ClUnd the Gharitys inveFtrnenl in dUr4ng origlnd thstIB materfal & prograrnmes. Bathg8 22
Bemie Grant Centre Partnership Notes to the accounts for the year to 31 March 2024 Balancé at 01-Apr42 O•lnlllo8sJ on Inveslments Balan¢• at In¢om¢ Spend Tran$fÈr8 Restrlcted Funds Fkned Assets ACE Eknvat? ACE JuNee AGE Capltal 18 Milllon Mlnds HI Cultur8 TDllenham Uterature Festlval Wlndrush 11,7,394 130,5271 1284.g931 119.4731 110,0001 163,8961 117,6631 147,2471 159.7431 117.5521 16.0001 19,0001 26.370 11,128,761 50,OOD 10.OOCI 76,9TK 9,040 38,990 47,958 788 6,ODO 1¥,000 123.0811 8,623 8.25T 11.787 18,764 Bait45 11,3n,n7 257.T51 1525,6671 31.840 11,137,761 Unr•8trleted funds GeTra1 funds 107,787 591,05S 177T,2961 131,8401 149.9291 11002231 187.787 591,Q5S (777,2961 131,8401 149.9291 11QO,2231 Total fund5 11,041,1124 844800 11,302,883) 149,9291 11.037.638 13 Thames Water rental Income On 7 July 2017. Bernle GT8nl Centre Pathershlp slgned a 25 years lease wilh Thame8 Water Ut}le$ ijmiled for Ihe extractkn olwaterlmm ts borehde atan amual rental of £70,000. the wtlon of Ihe rolled-up rental belng pald 85 a Iurnp Sum. This oplky) was exerclsod on 1 Decernber 2017. The rwlal due in the next flnanclal year16 shown under crertlt0 due in IESS thlln one year Imle 10 abov81 znd Ihe balane¢ Is 8hovm und8r cr8ditoJs the in fflvre than one year (nots 11 obovel, Undera Il¢ence ogreprnenl dated 4 July2017, Lcndon Borough of Harinware enlmed to 50% 01 IfA rental In¢)Jme from 2D22. twttn October2021 th16 wa$ amended when LBH agr88d lo waiv8 Iheirenlillementto Ihls Ir4me unlll May 2D23. 14 operatlng lease commltments 2024 2023 Arnounls recelvable Wilhln one year a&e¢D on& and fivg y8prB 4,250 4,250 15 Related party transactlon Haringpy Councll Is a memberof Bernle Gwl Centre Ph[p IBGCPI. Dudnulhe th8 Counoil rnade grants to Iho charftyo1£98,34812023.. £68,990). Amounts ow8d by Eh8 charity to Ihe councll are dtsL4o$ed In note 13. CEOIAtbstls Dlreclor Ateb Pool1B al80 o rectOr ofThp London International Festlval ofTheatr8 Llrnited who renloffi¢• Spa trom th• Charftyln one or the ¢entre's EnterprtS8 Units. Tha rent 18£425 pluB VAT p¢m. The amount of £420 w8$ txjlslandmg al year end. 18 Transactlons wlth Trustses The Gharttydld not payto ilB trustees &nytetnuneralon dthrtyJ the p8rbd 12022.. £nll and did notr&mburs& anytrusle8 expen82s12022: £nlll. 17 Debenture and charges The CharityCDrntnl86kn hy$ opproved an Order aulhori3inB Pernie PartrErshlp Its enler Into ¢harges and debeniure8 in favouiof ltsfunders to provlde Securftyforthe repawnentofgr¥Jtfunding in Ihe eventof such furyjiw be¢omg repay8blÈ, in wtK>le In part, underthe term5 of the wanl. a$ A debeNture In favourof The Mlllennium Commission dated 13 September 20fk5, over the fhd and lea5eho]d Interests In propgrty hpld by8ecp. A fixed le9 ¢harge ofthe Bwnie GrBnt Centre propertyatclyde Road and Town Hall Apwoa¢h Rood byway of agreement dalBd 23 Dece[nb 2Q04 in favour ofthe LoTh1on D8V8lopm8ntAgenoy. The funder5 havè agreed that these charge8 rank equally. 23
Bernie Grant Centre Partnership Notes to the accounts for the year to 31 March 2024 18 Analysis of net assets bee¢n funds Uttr•gtrleled Restrlctsd Funds Totalfunds 2024 Ftxed a$sels Current aS5BI6 (>erlitors.' amount5 falling due wtthln one Credilor8.' arnoun15 falllng affer or* ar 1,SY,259 202.581 1433,1481 11,199.5341 10.B78,601 2S.610 12,212.860 228.191 1433,1461 11.199,5341 Nètassets at 31 IA8rch 2024 6,840 10,904,211 10 Oa,3TI Unrestrlcled Fund• R•strfctod rotsifundJ 2023 Xod a¥set$ Ojrtent a68ets Credltors.. amounts fBlling due within one ye8r Credftors.. amount5 fling due afier one year 1,2eg,516 217,108 1317,3731 11,289.5341 11.128,761 g,o(h) 12J98.277 226,188 1317.3731 11,269,534) P4•t a$sets at 31 Marctt 2023 100,223 11137 781 qI,037,638 19 Comparativg Statemfrnts of Financial Activitie5 Unregtrlcted Fund2 2023 Restrlded Fund• 2028 Total Fund 2023 Incomè Grnnts ar don89$ Hlr8s. box offlcè and cat¢rlng Réntal and oth•r Incom• Invgstrngnt Incom• 198,112 199,181 157,592 38.170 267.751 453,883 199,181 IS7.S92 38,170 Tot•1 Income 591,055 257.751 848,808 ExpendStur• CharStablg QCtivltle8 777,296 525.587 1.302,863 Tol¥l expendilure 777.298 S25.587 1,302,8S3 Net Income I lexpendilurel before investments 1186,2411 1267,8161 1454.0571 Llnreallséd mDv•rnènts on InvèstM•nts 149,9291 149,9291 Net Income I lexpendlture) 1236.1701 1267,8161 1503.98el Tr4Mfer$ betw•en funds 131,B401 31,840 Nèt mov•m•nt In Funds 268.010 235,978 503.986 Reconcillatlon of funds Total funds broughlforwaTd 167.787 11,373,737 11.S41.524 Total funds carrled forward 100 223 11,137761 11037538