##
|||Page||
|---|---|---|---|
|Reference and Administrative
Details||||
|Report ofthe Trustees|2|to|6|
|Independent
Examiner's
Report||||
|Statement ofFinancial Activities||||
|Balance Sheet|9|to|10|
|Notes to the Financial Statements|11|to|20|
|Detailed Statement ofFinancial Activities||21||
##
|TRUSTEES|Mary Elizabeth Paterson|Mary Elizabeth Paterson|(Chair)||
|---|---|---|---|---|
||Jennifer Gabriele||||
||Ciara Golding||||
||Victoria Harrison||||
||Christine
Hathway|(resigned 03.09.21)|||
||Shamim
Ali||||
||Craig Ritchie (appointed||09.08.21)||
||Matthew
William|Amer|(appointed|03.09.21)|
||Belinda Margaret|Naylor|(appointed|07.11.22)|
||Julia Rachel Mazorodze||(appointed|07.11.22)|
|REGISTERED OFFICE|Extant||||
||2.06 Carlton Mansions
Brixtons House||||
||385 Coldharbour|Lane|||
||London||||
||England||||
||SW9 8GL||||
|REGISTERED COMPANY NUMBER|05195961 (England
and||Wales)||
|REGISTERED CHARITY NUMBER|1108728||||
|INDEPENDENT EXAMINER|Jones Hunt &Keelings||||
||Chartered
Tax Advisers||and||
||Chartered
Tax Advisors||||
||Broad House||||
||1 The Broadway||||
||Old Hatfield||||
||Herts||||
||AL9 5BG||||
|SENIOR STAFF|Maria Oshodi, Artistic Director/ CEO||||
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||||||||2023|2022|
|---|---|---|---|---|---|---|---|---|
||||||Unrestricted|Restricted|Total|Total|
||||||funds|funds|funds|funds|
|||||Notes|||||
|INCOME|AND ENDOWMENTS||FROiVI||||||
|Charitable|activities||||||||
|Charitable|activities||||199,051|103,000|302,051|216,360|
|Other income|||||122||122|78|
|Total|||||199,173|103,000|302 173|216438|
|EXPENDITURE ON|||||||||
|Raising funds|||||2,913||2,913|510|
|Charitable|activities||||||||
|Charitable|activities||||171,055|150,804|321,859|191,574|
|Other|||||8,551||8,551|7 212|
|Total|||||182519|150804|333323|199,296|
|NET INCOiVIE/(EXPENDITURE)|||||16,654|(47,804)|(31,150)|17,142|
|RECONCILIATION||OF FUNDS|||||||
|Total funds|brought
forward||||67,069|78&517|145,586|128,444|
|TOTAL FUNDS CARRIED FORWARD|||||83 723|30 713|114,436|145,586|
##
|EXTANT||||
|---|---|---|---|
|BALANCE SHEET||||
|31STMARCH 2023||||
|||2023|2022|
||Notes|||
|FIXEDASSETS||||
|Tangible assets|13|17|388|
|CURRENT ASSETS||||
|Debtors|14|19,787|6,237|
|Cash at bank||121941|149958|
|||141,728|156,195|
|CREDITORS||||
|Amounts
falling due within one year|15|(27,309)|(10,997)|
|NET CURRENT ASSETS||114,419|145 198|
|TOTAL ASSETSLESSCURRENT LIABILITIES||114,436|]45,586|
|NET ASSETS||114,436|145,586|
|FUNDS|17|||
|Unrestricted
funds:||||
|General
fund||83,723|67,069|
|Restricted
funds:||||
|Training
programme||6,048|15,033|
|Pathways|||30,234|
|Associate Artist Programme||23,288|28,500|
|Other Projects||1,377|4,750|
|||30,713|78,5]7|
|TOTAL FUNDS||114436|145 586|
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|INCOME FROM|CHARI|TABLE ACTIV|ITIES|||||
|---|---|---|---|---|---|---|---|
|||||||2023|2022|
||||||Charitable||Total|
||||||activities||activities|
|Earned
income||||||51,401|8,550|
|Grants and subsidies||||||250650|207,810|
|||||||302 052|226,360|
||||||Total|Funds|Total Funds|
||||||Year ended 31st||Year ended|
||||Unrestricted|Restricted|Mar|ch 2023|31stMarch|
|Grants for support|costs||Fuhds|Funds|||2022|
|Trusts and Foundations||||||||
|Leathersellers
Company|||||||5,000|
|Vision Foundation|||||||13,456|
|Chalk Cliff||||3,000||3,000||
|Spectacle Makers||||5,000||5,000||
|Esmee Fairbairn|||6,000|30,000||36,000||
|Associate Artist Programme|||||||30,000|
|Thomas Pocklington||||5,000||5,000|250|
|Brian Murtagh||||10,000||10,000||
|Foyle Foundation||||25,000.||25,000||
|Donations||||||||
|Donations|||2,680|||2,680|234|
|Arts Council||||||||
|NPO Funding|||133,870|25,000||158,870|158,870|
|Earned Income||||||||
|Commissions
Fees and Box||Office|4,553|||4,553|306|
|Investment
Income|||122|||122|78|
|Consultancy
and Workshop||Fees|46,848|||46,848|8,244|
|Other Income|||5, 100|||5,100||
||||199173|103,000||302,173|216438|
##
##
##
|Grants received,
included|Grants received,
included|Grants received,
included|in the above,|are|as follows:|||||
|---|---|---|---|---|---|---|---|---|---|
|||||||||2023|2022|
|Arts Council England NPO grants||||||||158870|158,870|
|OTHER INCOME||||||||||
|||||||||2023|2022|
|||||||Unrestricted|Restricted|Total|Total|
|||||||funds|funds|funds|funds|
|Miscellaneous
Income||||||122||122|78|
|RAISING|FUNDS|||||||||
|Raising donations||and|legacies|||||||
|||||||||2023|2022|
|||||||Unrestricted|Restricted|Total|Total|
|||||||funds|funds|funds|funds|
|Fundraising|costs|||||2,913||2,913|510|
|CHARITABLE ACTIVITIES COSTS||||||||||
||||||||Direct|Support||
||||||||Costs (see|costs (see||
||||||||note 6)|note 7)|Totals|
|Charitable|activities||||||232,195|89,664|321,859|
|||||Overheads||Programmes||||
||||||||Total Funds|||
||||||||Year ended|||
|||||Unrestricted||Restricted|31stMarch|||
||||||funds|funds|2023f|||
|Wages|||||66,705||66,705|||
|Employment
Costs|||||38,135|23,640|61,775|||
|Artistic Personnel|||||20,920|66,240|87,160|||
|Education|Programme||||875|8,985|9,860|||
|Other Activity Costs|||||19,903|48,567|68,470|||
|Fixed Office Costs|||||11,394|3,373|14,767|||
|Office Equipment|||||6,600||6,600|||
|Computer|k.Internet Expenses||||5,898||5,898|||
|Travel and|Meetings||||253||253|||
|Depreciation ofTangible|||Fixed|||||||
|Assets|||||371||371|||
|Total|||||171,054|150,805|321859|||
##
##
|NOT
FOR|ES TO THE
THE YEAR|FINANCIAL STATEMENTS
—continued
ENDED 31STMARCH 2023||||
|---|---|---|---|---|---|
|6.|DIRECT|COSTS OF CHARITABLE ACTIVITIES||||
|||||2023|2022|
||Staff costs|||66,705|40,356|
||Other activity costs|||68,470|18,170|
||Artistic personnel|||87,160|44,601|
||Education|programme||9,860|11,313|
|||||232,195|114,440|
|7.|SUPPORT COSTS|||||
|||||Governance||
||||Management|costs|Totals|
||Other resources expended|||8,551|8,551|
||Charitable|activities|~89 664||89,664|
||||89,664|8,551|98,215|
||||2023|2022|
|---|---|---|---|---|
|Accountancy|fee||2,000|1,816|
|Tax services|||360|360|
|Independent|examination|fees|1,180|1,000|
||||3,540|3,176|
|Support costs, included|Support costs, included|in the above, are as follows:|||
|---|---|---|---|---|
|Management|||||
||||2023|2022|
||||Charitable|Total|
||||activities|activities|
||||f||
|Employment|costs||61,775|61,483|
|Fixed office|costs||14,767|2,043|
|Office equipment|||6,600|6,322|
|Computer k.|internet expenses||5,898|5,915|
|Travel and meetings|||253|934|
|Assets|||371|437|
||||89,664|77,134|
|Governance|costs||||
||||2023|2022|
||||Other||
||||resources|Total|
||||expended|activities|
|Trustees' expenses|||291|536|
|Accountancy|and legal|fees|8,260|6,676|
||||8,551|7,212|
##
##
|OTHER||||||
|---|---|---|---|---|---|
|||||2023|2022|
|||Unrestricted|Restricted|Total|Total|
|||funds|funds|funds|funds|
|||||f||
|Support costs||~8551||~8551|7,212|
|NET INCOME/(EXPENDITURE)||||||
|Net income/(expenditure)||is stated after charging/(crediting):||||
|||||2023|2022|
|Depreciation|—owned assets|||371|436|
##
##
##
|||||||||2023f||2022||
|---|---|---|---|---|---|---|---|---|---|---|---|
|Trustees' expenses||||||||291||536||
|The trustees'||expenses||relate to travel, subsistence|||and board meetings ofall those trustees|as reported|within|reference|and|
|administration||page.||||||||||
|STAFF COSTS||||||||||||
|||||||||2023||2022||
|||||||||||f.||
|Wages and salaries||||||||228 488||101,839||
|||||||||128,480||101,839||
|The average|monthly||number ofemployees|||during|the year was as follows:|||||
|||||||||2023||2022||
|Management||and administration||||||5||5||
|No employees||received||emoluments|in excess off60,000.|||||||
||||||||31st|March 2023 31st||March 2022||
|||||||||f||||
|Chief Executive Officer's remuneration||||||||38,250||36,720||
##
|NOT
FOR|ES TO THE FINANCI
THE YEAR ENDED|AL STATEMENTS - continued
31STMARCH 2023|AL STATEMENTS - continued
31STMARCH 2023|AL STATEMENTS - continued
31STMARCH 2023|AL STATEMENTS - continued
31STMARCH 2023||||
|---|---|---|---|---|---|---|---|---|
|12.|COMPARATIVES|FOR THE STATEMENT OF FINANCIAL ACTIVITIES|||||||
||||||Unrestricted||Restricted|Total|
||||||funds||funds|funds|
||INCOME AND ENDOWMENTS|||FROM|||||
||Charitable
activities||||||||
||Charitable
activities||||142,654||73,706|216,360|
||Other income|||||78||78|
||Total||||142|732|73,706|216438|
||EXPENDITURE ON||||||||
||Raising funds|||||510||510|
||Charitable
activities||||||||
||Charitable
activities||||123,630||67,944|191,574|
||Other||||7|212||7 212|
||Total||||131,352||67 944|199296|
||NET INCOME||||11,380||5,762|17,142|
||RECONCILIATION||OF FUNDS||||||
||Total funds brought|forward|||55,689||72,755|128,444|
||TOTAL FUNDS CARRIED FORWARD'.||||67|069|78 517|145 586|
|13.|TANGIBLE FIXED||ASSETS||||||
|||||||||Fixtures|
|||||||||and|
|||||||||fittings|
||COST||||||||
||At 1st April 2022 and||31stMarch 2023|||||~12831|
||DEPRECIATION||||||||
||At 1st April 2022|||||||12,443|
||Charge for year|||||||371|
||At 31stMarch 2023|||||||~12814|
||NET BOOK VALUE||||||||
||At 31stMarch 2023|||||||17|
||At 31stMarch 2022|||||||388|
##
|NOTES TO THE FINANCIAL STATEMENTS - continued|NOTES TO THE FINANCIAL STATEMENTS - continued|NOTES TO THE FINANCIAL STATEMENTS - continued|||||
|---|---|---|---|---|---|---|
|FOR|THE YEAR ENDED 31STMARCH 2023||||||
|14.|DEBTORS:AMOUNTS FALLING DUE WITHIN||ONE YEAR||||
||||||2023|2022|
||Trade debtors||||5,678|2,740|
||Other debtors||||5,098|1,727|
||Prepayments
and accrued income||||~9011|~1770|
||||||19,787|6 237|
|15.|CREDITORS: AMOUNTS FALLING DUE WITHIN ONK YEAR||||||
||||||2023|2022|
||Trade creditors||||20,630|1,838|
||Social security and other taxes|||||2,621|
||Other creditors|||||796|
||Accruals
and deferred|income|||~6679|5 742|
||||||27,309|10,997|
|16.|ANALYSIS OF NET|ASSETSBETWEEN FUNDS|||||
||||||2023|2022|
||||Unrestricted|Restricted|Total|Total|
||||funds|funds|funds|funds|
||Fixed assets||17||17|388|
||Current
assets||111,015|30,713|141,728|156,195|
||Current
liabilities||~27309)||~27 309)|~)0997)|
||||83,723|30,713|114,436|145,586|
|17.|i)IIOVEMENT IN FUNDS||||||
||||||Net||
||||||movement|At|
|||||At 1.4.22|in funds|31.3.23|
||Unrestricted
funds||||||
||General
fund|||67,069|16,654|83,723|
||Restricted
funds||||||
||Training
programme|||15,033|(8,985)|6,048|
||Pathways|||30,234|(30,234)||
||Associate Artist Programme
Other projects|||28,500
4,750|(5,212)
~3373)|23,288
1377|
|||||78,517|~47,804|30713|
||TOTAL FUNDS|||145,586|~31,150)|114436|
|Net movement|in funds, included|in funds, included|in the above are as follows:||||
|---|---|---|---|---|---|---|
|||||Incoming|Resources|Movement|
|||||resources|expended|in funds|
|Unrestricted|funds||||||
|General
fund||||199,173|(182,519)|16,654|
|Restricted
funds|||||||
|Training
programme|||||(8,985)|(8,985)|
|Pathways||||35,000|(65,234)|(30,234)|
|Associate Artist Programme
Other Projects||||30,000
38,000|(35,212)
~4),373)|(5,212)
~3,373)|
|||||103000|~150,804|~47,804|
|TOTAL FUNDS||||302 173|)333,323)|~3),)50)|
|Comparatives|for movement|in|funds||||
||||||Net||
||||||movement|At|
|||||At 1.4.21|in funds|31.3.22|
|Unrestricted|funds||||||
|General
fund||||55,689|11,380|67,069|
|Restricted
funds|||||||
|Training
programme||||11,636|3,397|15,033|
|Pathways||||61,119|(30,885)|30,234|
|Associate Artist Programme|||||28,500|28,500|
|Other Projects|||||4,750|4,750|
|||||72,755|5,762|78,517|
|TOTAL FUNDS||||128,444|17 142|145,586|
##
##
||||Incoming|Resources|Movement|
|---|---|---|---|---|---|
||||resources|expended|in funds|
|Unrestricted||funds||||
|General|fund||142,732|(131,352)|11,380|
|Restricted
funds||||||
|Training|programme||8,956|(5,559)|3,397|
|Pathways|||30,000|(60,885)|(30,885)|
|Associate Artist Programme|||30,000|(1,500)|28,500|
|Other Projects|||4,750||4,750|
||||73 706|~67 944)|5 762|
|TOTAL|FUNDS||216438|))99296)|17 142|
||||||Net||
|---|---|---|---|---|---|---|
||||||movement|At|
|||||At 1.4.21|in funds|31.3.23|
|Unrestricted||funds|||||
|General|fund|||55,689|28,034|83,723|
|Restricted
funds|||||||
|Training|programme||.|11,636|(5,588)|6,048|
|Pathways||||61,119|(61,119)||
|Associate Artist Programme|||||23,288|23,288|
|Other Projects|||||1,377|1 377|
|||||72 755|~42 042|30713|
|TOTAL|FUNDS|||128,444|~)4 008)|114436|
||||Incoming|Resources|Movement|
|---|---|---|---|---|---|
||||resources|expended|in funds|
|Unrestricted||funds||||
|General|fund||341,905|(313,871)|28,034|
|Restricted
funds||||||
|Training|programme||8,956|(14,544)|(5,588)|
|Pathways|||65,000|(126,119)|(61,119)|
|Associate Artist Programme|||60,000|(36,712)|23,288|
|Other Projects|||42,750|~41,373)|1,377|
||||176706|~2)8 748)|42 042|
|TOTAL|FUNDS||518611|~532,6)9)|~)4 008)|
##
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|||||2023|2022|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total|Total|
|||funds|funds|funds|funds|
|INCOME AND ENDOWMENTS||||||
|Charitable
activities||||||
|Earned income||51,401||51&401|8,550|
|Grants and subsidies||147,650|103,000|250,650|207 810|
|||199,051|103,000|302,051|216,360|
|Other income||||||
|Miscellaneous
Income||122||122|78|
|Total incoming
resources||199,173|103,000|302,173|216,438|
|EXPENDITURE||||||
|Raising donations|and legacies|||||
|Fundraising
costs||2,913||2,913|510|
|Charitable
activities||||||
|Wages||66,705||66,705|40,356|
|Other activity costs||19,903|48,567|68,470|18,170|
|Artistic personnel||20,920|66,240|87,160|44,601|
|Education
programme||875|8 985|9 860|11 313|
|||108,403|123,792|232&195|114,440|
|Support costs||||||
|Management||||||
|Employment
costs||38,135|23,640|61,775|61,483|
|Fixed office costs||11,394|37373|'14,767|2,043|
|Office equipment||6,600||6,600|6,322|
|Computer & internet expenses||5,898||5,898|5,915|
|Travel and meetings||253||253|934|
|Assets||371||371|437|
|||62,651|27,013|89,664|77,134|
|Governance
costs||||||
|Trustees'
expenses||291||291|536|
|Accountancy
and|legal fees|8,260||8260|6 676|
|||8,551||8,551|7,212|
|Total resources expended||~182519|150804|333323|199296|
|Net income||16,654|~47,804)|~32,250)|17,142|