Registered number.. 05020050 England and W*5 Charity Number. 1104278 Kent15h Town Community Centre {A"Charitable Company Lifflited by Guarantstl Report and Unaudited Finan¢ial Statements Forthe year ended 31 March 2023 111 1111111 "ACC094L7* *120 1 COMPAMES HCMJSE Kenb'sh Town Community Centre Financial Statemènts For the year ended 3t March 2023 Legal and Adrnini5tr8live Information Report of the Oirector5 3to6 Independent Examinert. Report Ststemeni of Finanual Activilies Balance Sheet Notes formirvJ part of the Financial StaterTw15 10t018 Kenbsh Town Community Centre {A Private Company Limited by Guarantee) Company Particulars Legal and Admlnistrative Inforniation Charity Name Kenbsh Town Cthnmunity Centre Charity registration wKThber T104278 Company registration number 0502￿50 (England & Wabesl DirectorJ Uruseetsl . Marvel HaNey Catherirne Wakefield Hays Robert Dertnis Littleton K4athew Saunders Fr Guy Willis Joanne Lyrt Registered Office and opemional address. 17 Busby PLacè Kentish Town London NW5 2SP Ind¢pendent Examiners Staldy AcC￿ntantS. lQngsbridge Court Caslle haven R(trad LrMHJon NW181JA Kentish Town Community Centrè Report of the Directors Forthe year ended 31 March 2023 The directo￿ ale p4eased lo Kwesent thw annual direclors. rewl tc¥Jether wilh the financial statements ol the charily for the year ending 31 March 2023 vknith are also prepared lo meet the requirements for a directors, repm an¢J accounts for C￿nIeS Acl purF*)ses. The financial statements ethip￿¥rtlh the Charities Act 2011. ￿ Companies Act 2(KJ6. the Memoran¢Jum and Artides of Associab"on. and Acujunting and Reporting by char￿e5.. Statemenl of Re¢¢ynrnended Practice appliCa￿e to charities preparing their aeumints in accordance wth Ihe Financtal Reporting Slandard applic3b rn UK and ReputAic of Ireland {FRS1021." Structure. Govemanee and Management Kentish Town Cornmunity Centre Ithe tharityl w35 form8d in January 2LK)4 and is registered ￿li￿ the Charily Corrirnissioners ol England and Wales under registrati￿ number 1104278. 1115 a c<)mpany lirnited by guarantee (company registraiKJn number 0502(K)50 England an¢J WJes} and is govemed by its Memorandum and Artides ofAssooation. It5 head oifice and registered olke is 17 Busby P￿￿, Kenlish Tovm. London NWS 2SP. The charity 1$ managed by rts members who consiilute the Board of Directors and have been appointèd in accordance wilh the charilvs Artides of Association. All new Trustèes receive a link to a secure plafform containing our Memorandum and Arb"cles of Asstxiation. the most recent managèment accounts. previous accounls. annual reports and meetirMJ minutes.. The Directors in offKe dur￿ the period ended 31 March 2023wefe as fdlows.. Margaret Harvey Catherine Wakefield Hays Robert Dennis Littleton Mathew Saunders ' Fr Guy Willis Joanne L Trustee's rtspon54bllities The Twslees Iwho a￿ the directors of Kentish Town Ccffirnunity Centre for Ihe purptsses of company lawl are responsible for preparing the Trusiees. Repcyt and the financial stalements in accordance vthth applica￿le law and Unrte¢J.Kingdorn Accountry Standards (UK GAAPI. Conyny law rewires the Twstees lo prepare financial slatwnenls for each financial year that 8 true and fair of the stale of Ihe affairs of the charilal￿e company as at Ihe balan￿ sheet date and of its incnming resources and ap￿ICatiOn of resources, induding incorne and expenditure. for Ihe f￿￿nCial year. In p￿paring those finanual sla¢emenls. the trustees are required to.. Select suitable 8ccountiThJ Fdicies and then aFWy them consi%t8nly. .Obse¥ve Ihe methods pri￿PIeS in the Charities SORP.. hrtake judgements and estimates that are reasonable and rMwlenL State whèthèr applicablt UK AcrA)unting Stsndards have been folknved. sut4ect to any material deparbJres dtsdosed and expLain8d in the financiJ statemtrnts," and Prepare Ihe finanaal sfaternents on the goiry (*rt¢m baws unless li 1$ inapprowiate to 8$$ume thai ihe tharity will continue on that basis. Kentish Town Community Centre Report of the Dtre¢tors For the year endèd 31 March 2023 The Trustees are responsible for m￿nIaInIng proper acc¢yJntiThJ ￿COrdS that disc105e with réasonable a￿uraCY at anytime the financial position of the charity and to enable them to ensu￿ that the financial staternenls comply th the Companies Acl 2006. They are also responsible for safeguarding the assets ol Ihe ¢harit8ble company and her￿e for tskin9 reasonai4e steps for the prevention and"detection of fraud and other iThegularities. The Trustees are responsible for the maintenance and integrity of Ihe corporate and financial infoimation . included on the'charitable companls websrte. Legislation in the United Kingdom governing the preparatiors and dissemination of financial statemenls_ May differ from legislalion in olher jurisdiGtions. Obj•¢tiw$ We continue to work wth peopk IiwAg in. w)rkin9 in. rec￿￿ng educaiion in rx visit"Ing Kentish Town..We have adapted our services a lituo to foojs on better ￿nts1 he4th and rthng fc•yJ poverty. Mlsslon Stateme Kfcc Mission Statement (ontinued lo be as set wl behy.. 'KTCCs mtssion is to connect and inspK¢ localpeople andsupport indiv￿￿ andcommunity wellbwng.. Achievement of Objectives We have emerged from Ihe Covid 19 pandemic as a strong fiexible organisalion which remains ¢ommitted to our Ihree aims.. Allo￿ng people to Ilourish se￿Ing our communty Enabling people to feel safe The charittès financès are organi2ed across Iwo palhs= financial Value and soual value. Financial value represents unrestricted incorne which is present in our.rrxJm hire. Social value 15 represènted in the community ryoiects we ddiver. These communTrty project reflect our core valu8s and objectives. The themati¢ model lnir0due￿ ift 2022 has continuèd to be a success. Our aim to reconsider and revise wh8t we offer at Kentish Town Community Centre through the themes of Film. Food. Fttness and Future has worke¢J well. In ttte year end 2023 we have increased the number organizations we partner with and now offer new Se￿ice$ based on the gaps we have KJenttf*d. Th¢ summary ol the year•end 2023 is presented in line wth the thèmes introduced in 2022. Food. Film, Fitness and Future In 2022 we launched comrTyJnty meab. events which brought the CL¥nmunitytLytherto eat and discuss local issues. We stsrted ourcommunity meals program in cdiaboralKffi vAth the Caversham GP practict. In Septemberwe brought doGlors and health care professionals together to talk infomially rO￿d a lunch table wlh local residenis sn a project ¢alled,Dinners wth Ooctors", in part funded by Public Heaih Camden and1s1ington. In thè wnter monlhs. the communty meals rwam was exlended to offer after-sthool ￿￿al$ at KTCC lo childr8n from Torriano and 8reckn¢)ck Primary schcrfj. This fom￿￿ part ol our Winter wel￿tri￿j.paCkage. In January 2023 w8 èxtended the ¢ommunily meals pr¢yJram by takirg the wc¥ect into Kenlish.TtNn COE S¢hool.' a ￿0￿¢t which has been very successful in engaging all Merntse￿ of the schoo! community. Kentish Town Community Centre Report of the Dlre¢tC*rs For the yèar •nd•d 31 March 2023 Finally Tn Spring 2023 we received funding from Camden Counul lo repurpose the former rnanagerfs Offi￿ into a purpose-buill food storer(Mxn. This has enabled us to pYovwJe a rnore sI￿amI1ned Foodbank service. The foodbank semce complements the comrwnity meals proiect rdn througlK)vl 2022-2023. Tmstees are COTnmitted to Eoritinuing bot these services in 2023-2024. Film The film strand in part covers our Older Peoples Proiect whiL* is ftmded by City Bridge. Every we show5 filrns on Thurs(Jay which ale predominantly for our Oldef People. but everyone else is wethme. The film clLJb fomis part of our WO￿ with local social prescribers. an initsabve by the NHS to reducè loneliness ar¥J isdalK)n in the c￿MMunIty. Film alSO￿verS arts an(1 cwrccfflmitmentto SLwcth9 creative peo￿8 in Camden. In sw¥ig 2023 we launched Pay- What-you-can an opth)n of very Iow-CA)St. last-minule roorn hire for rehearsals. This was launched in cdIatr￿ati0n wth The Gate Theatre. Fithess (hjr fitness Strand Covers the privaie hire seswons ihat take place in the eveniro {ma￿"al art, Pilales and yoga) and the free sessions we run forovr dder peO￿e supported by City Bridge. Under the fitness umbrella is our commitment io healthy lileswes and bèller mental health. Over th• pasl yèar we have prawded free space for the Recovery cdiege, a service which provi¢Yes free rnental health support forpWe wlto love or work in Camden or Islington. Wè have also pro¥nded space to diabetes dinics run byoJr NHS partners. Future Our work W￿1￿ the Yuture. categwy indi￿•$ ￿r partnetshj.ps wth Camden who have been resident at Our center for tr40 days a week lor over a year. The partnership is tied to our Food Hub and ena￿e$ us to prO￿dtr a More wrap-IOLmd support semce to help Ictal ptt0￿e in need. We also place young people in the future category. ￿lhough ￿ have wsed running a fonnal youth servicè, we still support yiwng people vAlh work experience placEments and by providing a s8f8 informal place where we can offer supwrt and guId￿C8. Day to day management of the centre was the resP￿S1bdty of Sarah Ho￿. Flnancial Review The attached rtnancial statements show the Cu￿nt state ofthe charitys finances for the period ended 31 March 2023. During the year, KTCC generated income of £327.459 and expensed resour￿ of £317,404 re$ulting in an un4Jerspending of £10.056. Reserv85 PoliGy As al 31 March 2023 rhe unrestricted ￿serVeS tolaled £125,573. The Directors have exarnineij Ihe charivs requirements for reserves considering the main risks to Ihe organization. The Directors believe that thé level of Unrestricted funds nol committed or invested in tangib￿ fixed assets Ithe free reserves) held by th& charity should be artsund £140,000, enabling the piowsion of core 8cti*ities for some six months in the event of a gnificant drop in income_ We ￿vieW our ReseNes Policy on an annual basis as part ofour budgeting process. During the.year. the charity generaled an unrestricted surplus 01 £57.206. As at 31 Mar¢h 2023. unrestri￿ed reservestotaled £125.573. Priorto thIS￿8T we have sustained unrestricted lossés for the pastfewyears, partly duè io changes io our sectors funding and cosi models. and pariiy due to signrficant churn in both our Centre Manager post and our Board. Due to the long-tenn nature of granl and. lundiry progr8mmes. there can significant delays between corrective actions an¢J Ihe ￿lated financial imwovements. With a sirong cent￿ Manager in Flace since September 2017. and 8 n8￿Y refreshèd Board. improved funding Kentish TowTr Cornmunty Centr• Report ot th• Directors For the year ended 31 March 21123 slralegies and financial controls and eliminated the defi(it by March 2023. noiwilhsianding uncertainties pfeseni¢d by COVID19 (see "Going Concern. below). .We are revievring our. long-range plans in light of COVID19's potential impacts on our community. SO that we ran detemiine an bmbitious and realistic t¢meline for r¢tuming to the iargeted level of unrestricted reserves_ Going Concem As al 31 March 2023. the charity is in a much stronger postlion, tsjr unrestricled ￿seNe$ totaled £125.573 and cash at bank and in han¢J totaled £159.371. While we estimate lo have made a further unr8Stricted gain during Ihe year ended 31 March 2023. we have s8oJred a number of unrestricte¢l grants for the financial year ending 31 March 2023. As a resul¢ ol these consideraty.ons and ourcurrent forecasts. the Directors considerthe charity a going concern, and thaladequalefunding h8sbeen achieved to facilrtatethe tharitls objectives and activities for the ne￿ 12 months from the date of signing the financial statements. Howevèr. a degTee of uncertainty exists. in particular in our Venue Hire income, which will be impaued both by government policy and our communilvs changing needs due to COV1019. Investment Policy Any available fund& are held in the charivs bank account to enable il to meet its operational ot4igations asthey fall due. The Directors wll consider the investment ol surplus funds in short ¢em deposiis in orderto make best use of resources and generate inveslment income for Ihe organisation. llldepÈnd8nl Examiners Stately Accountants Lt¢J. were appoinied as Independent Examiners during the year 8nd have expressed thelr willingness to continue in Ihat capacity. This report has beèn prepared in accc*dance wth the small corwy reg.ime (Sec￿On 419 {2}l of the Companies Act 2006 relatihg to small comp8nies The Trustees have compli8d wih their duty in seclion 17 of the Charities Act 2011 to have due regard to th¥ public benefit guidanc8 published by th• CharTty Commiss￿. Signed on"behalf of the Board of Directors.. Margaret Harley D8t¢d." 18Auyust 2023 Independent Examlners. Rep¢)rt to the Members of Kent15h Town Community Centr• For the year ended 31 March 2023 We report to the ¢barily trus*es ofthe company for tbe year endeil 31 March 2023. which are sel wt on page5 10t018. RÉ.fpotssibiliiiésaiidbllsis ofreport A5 Ihe ¢hariWs trustee5 of the company {and abo rts direct(Y5 for Ihe purposes of.company 18wI you are resp￿sible for the preparation of the &counts in accoréanc£ wilh the requirements of the Companies Act 2006 I'lhe 2006 A¢YI. Having sabsfied myself that the accounts of the company ¥e not require£l 10 be audited under Part 16 of the 2006 Act and are eligi￿e for independent examlnation. I rewt in ￿Spect of my emaminalion of your charity's "accounts as carried out under secbon 145 of the Charities Aci 2011 Ithe'2011 A¢t'l. In r2rryin9 Out my examination I have followed the Oirectiws given by Ihe Chaiity Commission untlw secbon 145(51 Ibl of ihe 2011 Act. Ihdepende#t a¥qminEr's report I" have completed my examination. I CL￿fTh that rbo matlw5 have CA￿8 to my attention in conneGbon the exarninatson 9iwng rn8 cause lo believe". accounts.ng reconjs were not ke￿ in respea ofihe ￿MpanY as'reouired by s¢cbc*) 386 of the 2006 Acl,. 121 the accwnts not awd with ?￿oUnting recorils. the acrxjunls do not ttJmptyvAlhthe a(rthnting requirements ofseclion 396ofthe 2006 Actotherthan any requirement trat the aCC￿nts give a Irue an¢J fairf whth is not a matter considered as part of an independenl examination.. L¥ The accounts have not been prepared in accordance ¥￿th the methods and priThciples of the Stalernenl of Re¢ommentleLI po¢ts"ce lor accwntin9 and r8FMytin9 by charities applicable to charities preparing their ae£ounts in a¢wdance wth the Finanual Reportin9 Standard apph"ca￿e in the UK and Republic of Ireland IFRS 1021. I h8¥8 no concems and have .come a¢ros8 no other Malters in connection wilh ihe examination 10 "which alterstion should be dra¥m in Ihis re￿ in cfder to erth a Fyoper understanding of the accounts ¢0 be reached. ststely Accountants KIThg5brld￿ Court Castlehav•n Road London NW1 8QA Dated: 22 August 2023 .Kentish Town Comrnunlty Centre Statèment of Financial Activitles Ilncludirng Income & Expemditure Account} For the year ended 31 March 2023 Naiés Unreslricled . RestrKted Endowment Tolal Total Funds Funds" Funds Funds Funds 2023 2023 2023. 2023 2022 Income and endvmrnent from: tlonalion and ￿Cles. Donaltons 7.055 Grant$ 245.911 246.204 163.928 Charilable actiWlie5 72.1&) 72,180 48.571 ' Invtttrnent IntAyné 25 Other 7N7 7.867 Total Incom¢ 245.911 327 459 219S79 Expenditure on-. Raising funds haritsble actiwilie¥ .687 219,404 37.312 317,404 299,711 Other ' To¢al Ex￿ndItur• 219.404 N•1 IrromWProfft fly thÈ year 20,861 {37.3121 10.056 180.1321 Transfers betswn fvnd5 36.345. 136,3451 . Net movement In fvnd8 19.8381 (37,3121 10,056 (80.1321 R8concbllatlon of funds Total fvThJs brought forward 42.432 335.972 446,771 526.903 Toial funds ¢arried foThvard 125.573 446,771 The Slatement of FinancAal Actiwb"es indudes all gains and bsses in the year. All incombno rexsurces expended derive from conlinuw ath"vitses. The rKJles on pages 10 to 18 form part of these financial slalements. Kentlsh Town Community Centre Notesto the Financial Statenjents FOT Ihe year ended 31. March 2023 Kentish Town Community Centre" Balance Sheèt As at 31 Mareh 2023 2023 2022 FIXED Ass•ts TanGitrJo ass¢is >7,717 345.831 CURRENT ASSETS Debtors 9,745 159371 Cash ai bank and in hand 123 612 169,)16 127,576 LIABILnES Credilus.. Artyxjnts f81fiThJ With￿ >Ear 10 20.007 26.636 NET CURREiff ASSESTS 149.109 1¢XI.940 NET ASSETS 456.826 446.771 . FUNDS Ur￿1nd￿l fuNIs 125573 68.368 335,972 42.431 Restricted Ca￿1￿ funds Restricted irK¢me funds TOTAL FUNDS 456.827 446.771 For the year ending 31 March 2023. the company was entitled to exemption from audit under section 477 of the Compgnies AGt 2006. D1￿CtOrS. responsibilitiès.. The members have not required the company to oblain an audit of its acLounts for the year i qsJestion in a¢eL¥dance wth section 476. The dre¢tors ackno%￿edge their responsibilities forcomplwng with the requirements of the Act with respect to accountin9 ￿CordS and the preparation of accounts These a¢counls have been prepared in accor(lan¢e with the prowsions ap￿ICable to compan￿$ subject to the small companies. re9ime. The finan¢ial slatements on pages 08 to 18 ware approvèd by thè Lwjard of trustees on 18August 2023. Margarel Har¥ay Company registration number. OS02th)S0 IETrgland & Wales) Kentlsh Town Commvnity Cèntr• Notes to the Financial Statements. For the year ended 31 March 2023 Accounling Polieios Cli4rity iAfornialio Ke￿lish T<%vn Community Cenire is a private company linwteil by guaranlee in¢ortKyaled in ErvJland and W818s. The registered oifice is 17 8usby Hace. Kenlish Tts￿, LoTrJon. NWS 2SP. The prinrypal accounting policies are 5ummarised below. The accounling Fdicies have be8n applied consisleniiy throughout the year and in.the preceding year. f(t) Btssisof rICC￿￿tt￿lI￿. 2. The financial sts¢emerts have been ￿epared in accordance accountsng pdiryes set out in the not85 to the 8¢counls 8nd compl.y wlh the rtharitys governing d(x)Jment, the Charities Act 2011 and Aecouniing and Reporting by Charilies.. Slalement of Recommended Practtce applicAtrAe to charities preparing their ac￿)UniS in accordance with tho Financial Reporting Standard ap￿1¢aNe irr.lhe UK and Republic of Irelands IFRS 1021. The charity has tsken atfvantage of Ihe w0wis1or￿ in Ihe SORP fc* chaiilies appl￿Tha FRS J02 Update Bulletin 1 not to prepare a Statement of Cash Flows. Thè accounts are prepared in sterling. which is the fUnCl￿n01 currency of the charity. Monetary amounts in thesè financial statements 8re rounded to the nearfesl£. The effeds of evenls relating to the year ended 31 March 2023 vkn¢ch occur￿￿ before the date of approval of the financial stalemenls by the Trustees has been included in the finan¢Éal statements to the txient required to show a true and fair view of.the state of affairs ai'31 Marth 2023 an¢J Ihe results for Ihe year ended on Ihat date. The charity is a Public Benefit Enbty as defined by FRS 102. Assets and li8bilities are initsally recognised at historical cost or transaction value unless otherwisè Stat￿ in Ihe relevani acwJnting policy nolelsl. Gtring CORceTII As al 31 March 2023, our Un￿SIncted reserves totaled £125.573. and cash at bank and in hand totaled £159,371. While we estifflate to have made a further unre5tricièd gain during the year ended 31 March 2023, we have secured a number of unrestricted grants for the financial year ending 31 March 2023. As a result of these considerations and our current forecasts, the Directors consider the charity a goin9 concern, and that adequate funding has been achieved to facilit8t8 the charitlsobi8cJivés and athviliesforlhè nexi 12 monthsfrom the daleof signing the financial stattrments. (&) Unrestricled funds are available for use at the discretion of the Direclors in the furlherarJc8 of lh8 general objectives of the charity. Unrestricted funds include donations and other incoming resources receivab￿ or generated for the objects of the charity vrithout further speafjed purpose. Restricted funds are subjected to restrictions on their expendrtuie imposed by the donor orlhrough the terms of an appeal. Expenditure which meets these criteria is tharged lo the fund. 10 Kèntish Town Community Centre Noles to the Financial Statements For the.year ended 31 March 2023" Endowrnent funds rewe5ent assèts WW mvst bè hekl for ¢hariVs ¢y•m use. in this case 8 building. Et follows that the endowed asset is capable ofbeing depreuated a￿1 the dep￿ciatIon charge is shown as an expense against Ihe fund y8ar. {b)Ineomlng resourt•s l incoming resovrces a￿ included in. Statement of Fiftanual ActM¢res vknen the tharity is entitled to the income and Ihe amounl can be quantrfied wth reasonable aCCUTacy. The foll¢>wing specific Oicies are applied ¢0 parlicular categones of income:. Voluntary income is received by way of granls, donations and gifts and is indLKkd in full in the Statemen¢ of Financial A¢tivilTes when receivable. Grants. where entitlement is nol conditTronal on'the delivery of a 5pectfic p*rformance by th8 charity, are recognis8d when the charity bécomes unconditionally entitled to the grant. Donated sÈNces and facilities ar8 induded at the value 10 Ihe charity where this can be quantified. The value of seNces provided by volunteers has not been induded in Ihese accounts. Investment income is induded when rfeceivat4e. Incoming resourtes fiom charilable tratling actiwty a￿ ac￿￿nted fw when earned. Inwming resources from grants. whwe related lo performance and 5peufic delNerables. ale accounted for as the chanty earns Iht Fight to C￿&¢Jer#Ii(￿ by its perfomiance. {c) Resources expended Expènditure Is reco9ni5ed an accmal basis as a liabilty is inwrred. EXpendIbJ￿ indudes any VAT which cannot be fully reci)vered. and is ￿￿rted as parl of Ihe expenditure to vknich it rdales.. Cosls ofgenetaliNJ .funds c(mpw the costs assooaled with altracmg volvnt8ry in(xxnè and the cA>sts oftrading foT lundraising pu￿OseS. Charitable expenditure ¢ornwises Ihose costs incurred by Ihe charity In Ihè ddivery of its aciiwlies and serwces for its benefioares. It indudes both costs that allocated dir8dy to such actiwtiès and those costs of an indir8d nature necessary lo support them. Govemance costs include those costs assoaated wilh meeting the constitutional and statutory requirements of the charity and include the independènt examiners. fees and cthts linked to Ihe strategbc management of the charity. All ¢ost5 are albcated between the expenditure categor￿$ of the SOFA on a basis designefj to reflect the use of the resource. Costs relating lo a particular activity are alocateo dir8Ctly', other supptsrt ¢osts are apportKJned on the basis of an estimate ofthe proportion of lime spent by staff on those activities. Id) Tan9ible fixed assets Depreciation is provided using Ihe fc41owng rates and bases lo reduce by anwal instalmènts the cost. less estimated residual value, of the taThJible assets over their estimated vsefvl lives". - Leasehold improvements Strawjht line over the penod of the lease. 20 years Fixtures8nd fitt￿gS Straight line'over 20 years Roof ovethaul stra￿h1 line over 12 sea (4 Cash and¢¥sh equivalents Cash cash equivalents include cash in hant1. dewsils hekl al call wth banks. Olher short-temi liquid inveslmenls with original maturities ofthrèè months or less. and bank overdrafts. Bank overdrafts are shown within borrO￿ngS in current liabilities. 11 Kenlish Town.Community Centre Notes to the Financial Statements For the year ended 31 MaKh 2023 (g) Fi114iiciolirtsirumeNts The charity has elected to apply th.e provisions of Section 11 'Basic Finanrial Instrufflents. and Section. 12 '01hei Financial Instrumenis Issues. of FRS 102 to al of itsthnancial instruments. Financial instruments are ￿cognISed in the charitys balance sheet vthen the charity becomes party to the eontractual provisions of the instrument. Financial assets and liabilities are offset, w-th the net amounts presènted in Ihefinancial statements. when Ihere is a legally enforceable right to set off the recA)9nised amounts and there is an inlention to settle on a net basis or to ealise the asset and sethe the liabilrty simuhaneously. Busicfinapicitslthssets Basic financial assets, indu¢Je deblcws aThJ cash and bank batances. are initially measured at Iransaction price including transaction costs and are subsequently ¢aftied-at a￿￿)rtIsed cost using the effeclive inieresl mèthod unless the arrangemenl consiitutes a financrng transacti(￿, the transaction is Iwsu￿ at the presenl value of the Iijture receipts th$cwnted at a martet rate of interest Finar￿￿al assets dassified as re￿I¥*ble wthin one ￿ar arè not amortised. B&$itfiiion¢i$71 Itabilitie$ 8asic financial liabiliti•S, induding crediiL¥S a￿ initially rec￿Jnised at transaction price unless the arrangement constitutés a financing transacti￿,.where thè debt instrument is measurèd ai thè prtseni value of the fiiture payments discounted at a market rate of interest. Financial liabilth dassified as payable wthin one year are not amortisèd. Trade creditors are obligations lo pay for good5 or sèrvices that have been acquired In the ordinary course of opèrations frorn supplièrs. Amounts payaN• are classth•d as currènt liabilities rf payment is due within one year less. If not, they a￿ presente¢J as rthcurrenl liabill￿_ Trade creditors are rerA)gnised initi811y at transaction Price ar￿ SLtbs•queftity measured ai an￿¥t1$e￿ cost effedive inkresl. meth&J. Derecognilion offin￿nCi&l li&bAlitits Finanoal liabilities are dereco9ni¥ed when the chariwscontraciual ot4igations expire or are disch8ryeil or cancelled. {¢)Empl¢iyee ben¢filS The c05t of any unused holiday entitle￿nI is recognised in the peri(KJ in which the employee's setvices a received. 12 Kentish Town Community Cent Notes to the Financial Statements For the year ended 31 MaTch 2023 2.1 Voluntsry Intomo. Grants Restricted Total Total Funds FtsrKIs . 2023 2022 AklÈnham aub Trust .2.500 Community Prdeds 34,898 Even¢ Income 293 293 Fc*)Y Power Grant 12.492 12,492 31.521 HMRC COr{￿a￿ruSA0b retent￿ scheme grants 136 Jac* Petehey Granl 1,700 Jthn Lyon Stheme 3,300 L8 Camden. Nel￿br*jrh¢X#y F￿￿. Str*rfK 75,¢KKI 75.OC#) 60.ts)0 LB Camden- Lotal CIL Grart (Buldiwl 18.(rfYJ 18.OCN) LB Camden.Ycthh Core 43.750 43,750 13.286 LIk•￿$e Fuw of London Fund 1,eA)o Older Peopl8 Proi&t- Age Ccffjcem c￿ der Pecple Proj￿t- Cily Bridge Trust 43,843 15,500 Yrrtjng Carnden Fo￿dati<￿ HAF 12.928 12,928 T￿31 24 911 246.204 163 928 2.2 Income from charitable a￿l¥ll1e5 Total Toial Funds 2022 2021. Hall & Rr¥Jm Hire 72.180 72.180 48,571 Ti)tsl 72.180 72.180 2.3 Olher In￿rne To¢al rotai 2023 2022 Insura￿ ctsim 7.867 7,867 13 Kentish ToTAn Community Centre Notes to the Flnaneoal Ststtments For the year ended 31 March 2023 3072 SILIV45*vJ*HBll5 11A¥ 34J3S ¢¥leruWVAC 35fO g.IB7 37.jil 37)7 3FJ7 11)TJ 6,5Jl i.lQ1 41$5J 2,71 1735 971 131 7.wl 11 13JT 2.7WJ ityj 14 Kentish Town Community C•nire Mote$to the Flnancial Ststements For the year ended 31 •Aareh 2023 4. Net Incoming Resour¢es For The Y¥r This is stated after charging.. 2023 2022 Depreciation Independent examiners. fees 38.114 2.750 40.864 38.114 2.750 40,864 5.Staff Cosis and Numbers Staff Costs were as follows.. 2023 2022 Salaries and w4es Pensions Social security costs Totsl 107.751 2,024 126,517 2,1 $5 128 672 No employee received emduments e¥ceedrng £ 60.(KKJ. Thè average number of employees during Ihe year, calculatèd on the basis of hjll timè equivalents was as "follows.. 2023 2022 .Centrè Manager Youth Workers Administraiion and Support. Other Project Workers Tot 6. Trustee Remunèration And Rel*ed Party Transactions No Iruslee received any remuneration ￿ expenses during the ￿. NO trustee iir other person related to Ihe charity had any personal interest in any contract or transaction entered'into by the charity during the year 1 April 2022 10 31 March 2023 7.Tax•t6on The company is exempt from corrMY8tion tax as a resuli of its registered charity status. 15 Kentish Town Communtty Centre Not•s to the Financial Statements For the year ended 31 March 2023 8.Flxèd assèts Fixtures Property Improvements Fittings Total Cost At 1 April 2022 Additions 747,555 10.701 758.256 Al 31 March 2023 747.555 10.701 758,256 Depreciation Al 1 April 2022 Charge for the year At 31 March 2023 409.450 37.579 447.029 2.975 535 412.425 38.114 450,539 Net book valuè As at 31 March 2022 338.105 7,726 345.831 As at 31 March 2023 g.Debtors 2023 2022 Trade debtors Accrued grant income & p￿pa￿￿ents 9.745 9,745 10. Crèditors - amounts lalling due within one ytar 2023 2022 Trade creditors Deférred income Taxation and social securrty Accruals Other creditors 49 10.936 4.063 5.472 10.423 20.007 2.112 5.472 8.116 26,636 16 Kentish Town Community Centre Notes to the Financial Statements "For the year ended 31 March 2023 11.MOv*Mnt lth FyThd$ Tr4nsf• 3144•r-3J C¢mmwdiyPraio 14.612 20,287 Food p0￿rFUn￿ 9.179 12.492 12.307 ¢•rdening (VAC) JBck Pethy 3.76& John Lity¥sthe . L￿C•￿th￿.L<￿ aL Iknt 1&C 18.fth) L8 Camden. Happy 75.C(*) 75,fKYJ LB C•*thi. Core 43.750 2a140 15810 Fund 4.481 CXderPeoFlesPrtie lign YAG Comkn H*F 12. 9.147 4711 YL¥JW Cwnth F(NtThtsb￿sUrnrnlrGrIrts Yr¢Jth (BBG Newjl 5274 Youth kti¥ities {0tyLeadtrtth￿ YL)thI 7.513 Endawrn•Trt S￿97z Totsi Endowm•nt F 3*972 37.312 Unr•St￿e￿O Funty* 1.421 1537 HiioslryPrniÈQSS R￿H￿*S£￿￿>Ss 14r 1179) 12.250 PlyW￿lY0￿cln 13,5521 18.387 72.1 124.￿4 Inwrar 7.efjF 7￿67 Total iknr•alrfct•d Fun 68.367 345 124.364 bKthlntere51 T¢)tsl Uwealriethd &)ffj87 3S.345 Total 414772 3a7.459 J17.404 72,6B9 6.827 17 Kentish Town Communlty Centre Notes"to thè Finaneial Statements For the year ended 31 March 2023. 12. Net Assgts b8lw8gn fvrnls Endowment Restricled Desl9nal8d Fu* U*￿eStrIC1éd Total Funds Funds. . Fuhds 2023 2023 2023 2023 2023 Tar¥Jible fixed asseis 9.057 307.717 cjirrent a55ets 116.516 149110 32,YJ4 125,573 45&827 13. Llmlted liability Under the Company's Arti¢lesofAssociabon. every member ofthe Company undertakes lo contribute lo the assels of Ihe company in the event ofthe same being wound upwhile theyare a member. orwthin one year afterthey cease to be a member. such amount as may be required not exceeding £1. 14.Tr8n8fevs beiweth fvttds Transfers tot81ing £36.345 has been made from restricted fijnds to unrestrKte(l Fun¢Js. 15. Purpos¢ Off￿d8 Resincted funds - Oetai15 of restri¢led funds and thwr wrpose5 can be.fwnd in detail in the Trustee's ￿pOrt. Endowment funds- The erKknwwl fund represents a grant received lo fund Ihe purchase of the ￿lilding where charitable activities are undertaken. Depr￿t￿ of Ihe tKM"lth"ThJ bawl on the lenglh of the lease is charged to thi$ fund. 16. A¢¢Th￿d Income Al the yearend the aecrued income balance is£O{2022= £01. Deférrèd InGom At the year end the deferred incL*w balance is £012022." £01. 17. Penslon Commltments The th8rity bperates a defined c(￿trIbution pensKJn scheme. The assets of Ihe scheme are held Separately from Ihose of the company in an indèpendeniiy administered fun.d. The pension cost and charge in Ihe accounts rep￿sents contributs"onl:i payable by Ihe c