2022-03-31-accounts - The Albany 2001 Company

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

1.	Trustees' Report.
2.	Independent Auditor's	Report.	.19
3.	Statement of Financial	Activities. .	......23
4.	Balance Sheet..		.24
5.	Statement ofCash Flows.		.25
6.	Notes tothe Financial	Statements.	...26

Reference and	Reference and	Reference and	Admin	istrative Details
Charity Number:				1112521
Company		Registration		Number: 04333098
Operating		Address		The Albany
and	Registered		Office	Douglas Way
				London SE84AG
Trustees				Alastair Ballantyne*+			Resigned	25.2.22
				Karla Barnacle-Best			Resigned	25.2.22
				Sarah Bedi
				Linda Bernhardt"+			Vice Chair
				Shereener Browne			Appointed	2.9.21
				Ono Dafedjaye
				Chiquita Delisser**
				Olivia Douglass			Resigned	5.7.22
				Aisling Gallagher			Resigned	2.9.21
				Kurban Haji
				Lisa Mead
				Will Nicholson*
				Amanda Parker			Resigned	25.2.22
				Dame Joan Ruddock DBE*+			Chair
				Ruth Wye			Appointed	23.2.22
				*Denotes member of Finance,	HR	&	Operations	Sub-committee
				+Denotes member ofthe Building		Development		Board
				**Appointed to the Board on 4	March		2021, resigned		on 31 August 2021 and
				rejoined on 1 March 2022.
~Pi	i al	St ff		Gavin Barlow - Chief Executive	and Artistic Director
				Senay Gaul - Chief Operating	Officer
				Mary Nri - Finance Director
Bankers				CAF Bank Ltd			HSBC Bank pic
				Kings Hill			85-87 Lewisham		High Street
				West Mailing			Lewisham
				Kent M194TA			London SE136BE
Auditors				Moore Kingston Smith LLP
				Chartered Accountants
				9 Appold Street
				London
				EC2A 2AP
Solicitors				Rosenblatt Solicitors
				9-13St Andrew Street
				London EC4A 3AF

in the delivery of their work across community events.	in the delivery of their work across community events.	the three buil	the three buil	dings, supporting attend	ance in e
Resident projects and organisations		based at the		Albany during 2021/22	included:
Abimaro				Next Step
Apples &Snakes				Poetry Translation	Centre
Day 600 Ltd				Recruita chef
Entelechy Arts				Refuge COP
Heart &Soul				Refugee Council
Independent Theatre	Council			Spare Tyre Theatre	Company
Kali Theatre/Yellow	Earth			Spread the Word
LBLStreet Trading				Studio Raw
Lewisham Education	Arts Network		(LEAN)	Theatre Centre
Lewisham Family Self-Help Association				Three Boroughs
Lewisham Speaking	Up

		CC CI CC					I CD ED	O I EEI ED UI EO	CI LA(0 EEI EO							cn CI								CD0 (0 IA	(D (El CEI CI ED ED	c cr Enl00
	CI0 UI ID	EC C, ECO	N C EL											cn CI CV ED										CD LA0 LA0	CC CI Ol ED CD	rn 13 Cr (0 (0
	Cl N0 M CI	0 rn ED 0 0 0C LL					EO CEI (D			ED									CI IA CC			O IA CEI ED ED		O ED IA	CI EO Ur0) C(l	U-c c m
																										E
CCI	O '6 N M C	0 m EC	Cl 2 m																					ClOO00 CD CC	000 OO CC	Cl 0 ED 0 CD
CCI																										(00
CCI V CUK	'6 N CI	0 (C cn N Ul O	N D 0												ED CV		CI CV 0		CI CI		Dl			ED CC CO		m N Cl Ul0
CSc'0 (U	'D Ul ID E	m m NC O	rn0 LL			Ol CI CI ED (O	IA Ol CD	O I CC CD Ur		LA CO				Cl (0 ID LA		CO CI IA LA	!0 CI CD				nl CD cn I		O CEE CD EEI	EEI EEI ED		c m I CJ 0
																										N
Cl																										(D tn
(U Q		CC				EO	CI	IA CI OI		CI		Ol				IA	C IA I		CD IA IA					CC CC	LA CO	Ul0 I0
		(ElO				Ol	EO CEI CI	CC		ml E mt		IA EO		EEI	IA CC	CD	Ol cn		Dl UC				CC CC	CI EO		Ulc
(A (U	13 CI0 Ul mK	EC CL (0O	N 'D C EL				CEI	CI rIfl IA		~0 CI IA				CC LA Ol CD EEI	EO CO CI CC		I Dr CI'0		Al Ol				Ol CD CC	ED c(r CI IDI ml CD	Ol r Ol	m O) '0 m Nc Ol00 CI
I V (5	tl m 00 EC Cl IL	0 rn ED 0 0 0C LL					CU CV Ol CI CO			O Ol				EA Irl cn r			IA Ul ml		Ifl CO CC				IA CI CO EEI	Cl EO tn Ol CV	IA 'll ml CC	Cl 00c
IJ 0 O E	(00 fn m C	C0 m IL'	Cl2 ClN																					CI CI CI CI CC	CI CI CIO OI CEI	ID0 0 m
																										Ul
	m'll N	Cl (C CD	N D 0				I	I	I					EEI CE( CI	LA CO IA EEI		IA ID CD		~0 ED CD		Ol		Erl UF CO		CO IOl	CI 0 (0
	ED E	ED N CI																								Ol 5
	En Cl E	E 0 C m (g	rn D C (L				O CEI r IO cc CC	LO Ur EO I EO		CI IA IA EO		Ol Ct IA ED		It) IA ml ml	CD CD EO CC EEI	CI rIA r IO	'lr Ol r IO		rO r I		CD N CI		CI r	CEI IA	LO EO CC IO IA	c 0 0 E 0		En c E Cr m
		tn m0																								cr '0	'	(0 0
																										rn		(0
				00	tn ID Ul Etl rn ID .Dmm mC (0 Etl 0 C cJor o		N E E ED O 0. o N UC	N 0 CL 0 m Cl O	M0 Etl 0 O Cl 0 UJ	(0 0 C 9	Cl C Cl x UJ	N 0 DI C in m	N ID Cl EC Cl O	Cl EE ECh0 CC	In 0 Cl CL0 ID C	0 EC C00 ttl IC UJ	Cl h 0 CI CL X ID UI	m Z	N h 0 Cl0. X ID 0E0 0 L	m N CI	rn C	0 N E 0E 0	En c	Dl 0 JO ID D 0 m 0	O Cl ED00 D 0L Cl m (0 DJ	0 JD (0 Q UC	U Cl 0 v 0 c

			Note			2021
Fixed assets					4,663,853		4,741,883
Current assets
Stock				4,635		5,800
Debtors				491,825		506,700
Cash at bank and in		hand		2,461,286		2,279,885
Total current assets				2,957,746		2,792,385
Creditors:	amounts	falling due
within one	year		10	~714418		~835,527
Net current assets					2.243 328		1,956,858
Creditors:	amounts	falling due
after one year			10a		(81,396)		(97,515)
Net assets			13		6 825 785		6 6111226
Funds
Unrestricted	General				562,765		555,752
Revaluation	Reserve				2,900,000		2,900,000
Designated	Capital Funds				664,181		729,962
Designated	Income	Funds			310,000		160,000
Restricted	Capital Funds		12		967,194		961,902
Restricted	Income Funds		12		1,421,645		1 283,610
					6.825 785		6 6111,226

								2022	2021
Cash Flow from operating	activities
Net movement in funds								224,559	980,415
Depreciation charges								125,135	184,144
Interest paid								4,570	2,138
Decrease in stock								1,165	6.895
Decrease in debtors								14,875	83,791
(Decrease)/Increase in current		liabilities						~116539	158179
Net cash provided by operating			activities					253,765	1,415562
Cash Flow from investing	activities
Loan Draw Down									130,000
Loan element in current liabilities									(24,440)
Capital repayment								(20,689)	(8,045)
Interest paid Purchase offixed assets								(4,570) ~47.105	(2,138) ~92,453
Net cash used in investing	activities							~72 364	2924
Change in cash and cash	equivalents			in	the reporting		period	181,401	1,418,486
Cash and cash equivalents		at	beginning		ofreporting		period	2,279,885	861,399
Cash and cash equivalents		at	the end	of	reporting	period		2461,286	2279885

			Unrestricted	Unrestricted	Restricted	Restricted
			General	Designated	Income	Capital	Total
			Funds	Funds	Funds	Funds	2022
			6	6	6	6
Arts Council England		- Core	181,876				181,876
Arts Council England London Borough of		- CRF	160,635				160,635
Lewisham Sundry donations	and		137,459				137,459
grants			6939		4467		11406
Total 2022			486 909		4,467		491,376
			Unrestricted	Unrestricted	Restricted	Restricted
			General	Designated	Income	Capital	Total
			Funds	Funds	Funds	Funds	2021
			6			6	F
Arts Council England		- Core	179,253				179,253
Arts Council England London Borough of		-CRF	323,468				323,468
Lewisham Sundry donations	and		137,459				137,459
grants			19,911		3.873		23,784
Total 2021			660,091		3873		663964

.Income to further the ch	arity's objectives
	Unrestricted	Unrestricted	Restricted	Restricted
	General	Designated	Income	Capital	Total
	Funds	Funds	Funds	Funds	2022
			E	6
Artistic programmes
Grants	12,810		1,488,293		1,501,103
Boxoffice, hires and fees	114,323		21,853		136,176
Recharged costs	63,645		111,645		175,290
Theatre bar	22,830				22,830
Youth contract			65,000		65,000
Other income	11513		114,132		125645
	225,120		1 800,923		2 026,043
Centre operations
Grants	91,621			45,570	137,191
Service charges	222,558				222,558
Community hires	18,688				18,688
Community cafe/bar	22,385				22,385
Other income	21 083				21,083
	376,335			45,570	421,905
External contracts
Grants	30,436				30,436
Contract Income	646,550				646,550
	676,986				676,986
Total 2022	1,278441		1,800,923	45,570	3 124 934
	Unrestricted	Unrestricted	Restricted	Restricted
	General	Designated	Income	Capital	Total
	Funds 6	Funds K	Fundsf	Funds	2021 6
Artistic programmes
Grants	29,939		1,457,985		1,487,924
Boxoffice, hires and fees	19,346		(562)		18,784
Recharged costs	18,601		7,735		26,336
Theatre bar	1,230				1,230
Youth contract			65,000		65,000
Other income	140		92,058		92 198
	69256		1,622216		1691,472
Centre operations
Grants	395,646				395,646
Service charges	194,110				194,110
Community hires	5,653				5,653
Community cafe/bar	3,620				3,620
Other income	37,241				37,241
	636,270				636,270
External contracts
Grants	94,637				94,637
Contract Income	393,558		135,455		529013
	488,195		135,455		623,650
Total 2021	1 193,721		1,757,671		2,951392

4. Expenditur	e by	natura	l c	lassificatio	lassificatio	n
				Raising		Artistic	Community	External	Total
					funds	programmes	centre	contracts	2022
Direct costs					K		8	6	E
Artists' fees						154,816		19,078	173,894
Technical						21,588		676	22,264
Marketing						86,925	167	2,693	89,785
Salaries and	fees					956,147	20,002	245,419	1,221,568
Stock for resale						12,558	7,066		19,624
Other project	costs					740.283	12784	311137	1 064204
						1,972 317	40,019	579 003	2591,339
Support costs
Salaries and	fees				47,997	266,539	134,568	25,325	474,429
Premises						32,964	24,365		57,329
Depreciation						85,955	38,520	660	125,135
Administration					3,909	71,672	22,153	32,582	130,316
Governance					13203				13203
					65,109	457.130	219606	58567	800412
Total 2022					65,109	2,429447	259,625	637,570	3,391,751
				Raising		Artistic	Community	External	Total
					funds	prog rammes	centre	contracts	2021
Direct costs						6	6	8
Artists' fees						61,848		1,175	63,023
Technical						6,334		65	6,399
Marketing						88,875		69	88,944
Salaries and	fees					544,911	89,696	208,439	843,046
Stock for resale						655	7,825		8,480
Other project	costs					435.227	5430	277894	707691
						1,137850	92,091	487.642	1 717583
Support costs
Salaries and	fees				48,228	208,149	191,492	26,078	473,947
Premises						73,032	53,980		127,012
Depreciation						127,121	56,363	660	184,144
Administration					3,678	67,425	20,840	30,648	122,591
Governance					9664				9664
					61 570	475 727	322 675	57386	917358
Total 2021					61 570	1,613,577	414,766	545,028	2,634,941
5. Net income for		the year						2022	2021
								K	6
This is stated after charging					for:
Auditor's	remuneration:
-audit fees for current			year					13,203	9,664
Depreciation:
-assets owned		directly	by	the company				125,135	184,144

Staff costs and numbers	Staff costs and numbers	Staff costs and numbers								2022	2022	2021
										6		6
The cost offees and salaries			disbursed			during		the year were:
Gross salaries and wages										1,351,980		1,139,157
Social security costs										115,453		84,119
Pension contributions										26,215		20,912
Redundancies											195	4,519
										1,493,843		1,248,707
Fees and other remuneration										670,995		337,748
										2 164.888		1 586.455
Key management personnel			comprise			the	Trustees, Chief
Executive Officer, Chief		Operating		Officer			and	Finance Director.
The total cost including management personnel		all employee are:			benefits			ofthe key		177	116	159,864
The average number	(full time equivalent)						of	employees	during
the year was:
										2022		2021
										No.		No.
Artistic programmes											14	13
Canada Water Theatre											2	5
The Deptford Lounge											6	8
Centre operations											12	10
Support staff											10	8
											44	44

TangibleFixedAssets
				Other
				Equipment,
	Freehold	Theatre	Computer	Fixtures
	Property	Equipment	Equipment	a Fittings	Total
	K	F		K	6
Cost orvaluation:
At 1 April 2021	7,404,782	336,656	14,535	150,793	7,906,766
Additions		47,105			47,105
Disposals
At 31 March 2022	7,404,782	383761	14,535	150793	7,953,871
Depreciation:
At 1 April 2021	2,783,216	316,739	14,535	50,393	3,164,883
Provision for the year	88,561	19,288		17,286	125,135
Disposals
At 31 March 2022	2,871,777	336,027	14,535	67,679	3,290,018
Net Book value
At 31 March 2022	4,533,005	47,734		83,114	4,663,853
At 31 March 2021	4,621,566	19,917		100,400	4,741,883

rge o	n the Freehold	land p	ledged as security for the ban	k loan (see	note10b).
9.	Debtors				2022f	2021
	Trade debtors				481,487	296,643
	Less bad debt	provision			(3,480)	(3,480)
	Other debtors				5,823	972
	Prepayments	and accrued income			7,995	212,565
					491,825	506,700
10.	Creditors: Amounts		falling due within one year		2022	2021
						6
	Trade creditors Taxes and social security costs				209,009 81,589	210,081 25,594
	Bank Loan				20,690	24,440
	Deferred income (note 10a)				110,286	266,528
	Other creditors				229,453	229,731
	Accruals				63,391	79 153
					714,418	835,527
10a	Movement in Deferred		Income	At	Net	At
				1 April	movement	31 March
				2021	in year	2022
				6		6
	Grants in advance			266,528	(258,320)	8,208
	Room Hire and	box office in advance			102,078	102078
				266,528	156242	110286

10b Creditors: Amounts	falling	due	after one year		2022 6	2021f	2021f
Bank Loan					81,395	97,515
The Albany had a loan	facility of		F130,000 from HSBC bank in
2020.The loan is repayable		over	6 years until October 2026.
The interest rate on the	loan	is 3.95%+BEBR.The loan was
used to fund a boiler replacement			and essential	electrical
rewiring.
					51.395	97,515
Summarised movements	offunds		At 1 April 2021	Incoming resources	Resources expended Transfers between funds		At 31 March 2022
			6		8	6	E
Unrestricted —General			555,752	1,765,350	(1,587,943)	(170,394)	562,765
Unrestdicted —Revaluation	Reserve		2,900,000				2,900,000
Designated —Capital Designated —Business Development			729,962 50,000		(65,781) (20,394)	20,394	664,181 50,000
Designated —Maintenance			60,000				60,000
Designated —COVID Fund			50,000			150,000	200,000
Restricted —Capital			961,902	45,570	(40,278)		967,194
Restricted —Income			1,293,610	1,805,390	1,677,355)		1,421,645
			6,601,226	3,616,310	(3,391,751)		6,825,785
Summarised movements	offunds		At 1 April 2020	Incoming resources	Resources expended Transfers between funds		At 31 March 2021
						E	F
Unrestricted —General			329,632	1,853,812	(1,480,300)	(147,392)	555,752
Unrestricted —Revaluation	Reserve		2,900,000				2,900,000
Designated —Capital			703,290		(56,648)	83,320	729,962
Designated —Business Development Designated —Maintenance			50,000 60,000		(14,072)	14,072	50,000 60,000
Designated —COVID Fund						50,000	50,000
Restricted —Capital Restricted —Income			1,050,529 527,360	1,761,544	(88,627) 995,294)		961,902 1,293,610
			5,620,811	3,615,356	(2,634,941)		6,601,226

Restricted Funds	Restricted Funds	Restricted Funds				At 1 April 2021	Incoming resources	Resources expended	At 31 March
Income Funds
Ed Renshaw Fund						(431)		431
Esmee Fairbairn		Foundation			(FAC)	33,972		(17,985)	15,987
Every Child						3,032	1,079	(4,111)
Family Arts						63,781	195,842	(180,274)	79,349
Fun Palaces						292,503	307,824	(226,821)	373,506
Garden Project						17,100	17,948	(23,210)	11,838
Meet Me at the Albany				(MMATA)		11,563	97,672	(89,901)	19,333
National Theatre		Connections				9,864	925	(526)	10,263
Young Londoners			fund			19,253	39,265	(45,401)	13,117
Young Peoples	Programme					136,062	229,229	(219,320)	145,971
National Lottery
Community Fund			(training)			8,933		(8,933)
Borough ofCulture						88,970	611,974	(185,688)	515,256
The Home						(13,119)	118,983	(90,646)	15,218
ID Babylon						938	3,391	(4,329)
Jack Petchey						3,791	5,850	(750)	8,891
Contracts						145,879			145,879
Youth Music						(4,001)	2,870	1,131
Here & Now project						(940)		940
National Lottery	25Year Fund					169,730	76,854	(246,584)
Weston Culture	Fund					271,512	(60,570)	(204,724)	6,219
Artist ofChange						35,218		(35,218)
ACE Project grant							84,054	(84,054)
Are You There							23,900		23,900
Associate Artists							34,800	(6,050)	28,750
Building the Future							13,500	(3,550)	9,950
UK CRF								(1,782}	(1,782}
						1,293,610	1,805,390	(1,677,355)	1,421,645
Capital Funds
Restricted - Capital			Funds			961,902	45,570	(40,278)	967,194
						961,902	45,570	(40,278	967,194
Total Restricted		Funds				2,255,512	1,850,960	(1,717,633	2,388,839

Restricted Funds			At 1 April 2020	Incoming resources	Resources expended	At 31 March 2021
						8
Income Funds
Ed Renshaw Fund			1		(432)	(431)
Esmee Fairbairn Foundation		(FAC)	32,585	15,000	(13,613)	33,972
Every Child Family Arts Fun Palaces			10 38,274 166,967	3,022 225,728 307,958	(200,221) (182,422)	3,032 63,781 292,503
Garden Project Meet Me at the Albany	(MMATA)		14,400 13,047	19,967 105,001	(17,267) (106,485)	17,100 11'563
National Theatre Connections			9,041	2,575	(1,752)	9,864
Young Londoners fund Young Peoples Programme			21,843 59,147	22,843 215,683	(25,433) (138,768)	19,253 136,062
National Community Fund (training)		Lottery	8,933			8,933
Decameron project Festival of Creative Ageing				96,820	(7,850)	88,970
The Home			(13,019)		(100)	(13,119)
ID Babylon			2,183		(1,245)	938
Jack Petchey Contracts			3,791 10,424	135,455		3,791 145,879
Women 8,Machine			13,534		(13,534)
Youth Music			(179)		(3,822)	(4,001)
Here 8 Now project National Lottery 25Year Fund Weston Culture Fund			(640) 147,018	294,000 273,992	(300) (271,288) (2,480)	(940) 169,730 271,512
Artist ofChange				43,500	(8,282)	35,218
			527,360	1,761,544	(995,294)	1,293,610
Capital Funds
Restricted - Capital Funds			1,050,529		(88,627)	961,902
			1,050,529		(88,627)	961,902
Total Restricted Funds			1,577,889	1,761,544	(1,083,921)	2,255,512

13.Ana	lysis	of net asse	ts between funds
			Unrestricted General Funds	Unrestricted Designated Funds	Revaluation Reserve	Restricted Income Funds	Restricted Capital Funds	Total
								2022
				6
Tangible	fixed	assets	132,741	664,181	2,900,000		966,931	4,663,853
Stocks			4,635					4,635
Debtors			491,825					491,825
Cash at	bank,	in hand	729,378	310,000		1,421,645	263	2,461,286
Current	liabilities		(714,418)					(714,418)
Long term liabilities			(81,396)					(81,396)
at 31 March 2022			562,765	974,181	2,900,000	1,421,645	967,194	6,825,785

			Unrestricted General Funds	Unrestricted Designated Funds	Revaluation Reserve	Restricted Income Funds	Restricted Capital Funds	Total
								2021
								f
Tangible	fixed	assets	150,019	729,962	2,900,000		961,902	4,741,883
Stocks			5,800					5,800
Debtors			506,700					506,700
Cash at	bank,	in hand	826,275	160,000		1,293,610		2,279,885
Current	liabilities		(835,527)					(835,527)
Long term liabilities			(97,515)					(97,515)
at 31 March 2021			555,752	889,962	2,900,000	1,293,610	961,902	6,601,226

Grants and donations receivable	2022	2021
	6	6
Unrestricted grants and donations
London Borough ofLewisham
- annual revenue support	137,459	137,458
Arts Council England
-annual revenue support	181,876	179,253
Arts Council England -CRFgrant	160,635	248,468
Sundry donations	6,939	19,912
	486,909	660,091
Restricted income grants and donations
Arts Council England- Family Arts	132,392	132,394
Arts Council England —Project grant; National Lottery 25th Anniversary	76,854	300,000
Arts Council England - Project grant; Albany 2021		75,000
Arts Council England - Other	128,169

Grants and donations receivable (continued)	Grants and donations receivable (continued)	Grants and donations receivable (continued)	during the year	2022	2021
Anonymous Trust				6,667	14,167
British Council				23,900
O'Oyly Carte Charitable Trust				4,750	4,000
Entelechy Arts				6,351	17,415
Esmee Fairbairn Foundation				52,000	108,667
Future Arts Centres (ARC Stockton)					10,000
Garfield Weston Foundation				20,000	293,992
Greater London Authority				75,925	22,843
Coronavirus Job Retention	Scheme			19,162	415,004
Jack Petchey Foundation				5,850
Kickstart Grants				37,957
City Bridge Trust LEAN Lewisham Live				4,875	3.520
L&Q Foundation				10,000	24,837
London Borough ofLewisham
-Lewisham Investment Fund				57,541	57,541
-Borough of Culture				428,205
-Other grants				3,586
-Covid/Restart grants				80,000	75,560
Goldsmiths, University of London				5,000
London Youth				5,000	222
Lucille Graham Trust				3,000
Mayor ofLondon; Backto	Business		Fund	2,500	2,500
Youth Music				29,798
National Lottery Community		Fund		392,986	421,961
National Theatre				925	2,575
Paul Hamlyn Foundation				2,500	43,500
Peter Stebbings Memodal	Charity				5,000
PRS Foundation				8,550
Royal Opera House				3,000	1,000
Scottish Libraries (SLIC)				7,020	7,020
Tesco Community Grants					1,000
Mayor of London; Grow Back Greener Fund				7,500	7,500
The Wellcome Trust					(11)
Theatre du Pelican				3,391
Theatres Trust					5,000
Golsoncott Foundation				1,000
Unity Theatre Trust					1,000
Youth First				1,920
Pdvate donations - Every Child project				1,079	2,022
Private donations - Family	Arts project				10
Private donations -Meet me		at the	Albany	1,077
Private donations - Garden	project			1,941	1,841
Private donations —Young	Creatives			370
				1,673,197	1,982,080
Total grants and donations				2,160,106	2,642,171