2023-03-31-accounts

1.	Trustees'Report.	3
2.	lndependentAuditor'sReport...	.20
3.	StatementofFinancialActivities.........	24
4.	BalanceSheet.......	..25
5.	StatementofCashFlows	26
6.	Notesto the Financial Statements	27

Reference andAdmi	nistrativeDetails
CharityNumber:	1112521
Company RegistrationNumber: 04333098
Operating Address	The Albany
and RegisteredOffice	DouglasWay
	LondonSEB4AG
Trustees	Ahmet Ahmet	Appointed17.5.23
	Aleksa Asme	Appointed17.5.23
	SarahBedi
	Linda Bernhardt*+	Resigned23.3.23
	ShereenerBrowne
	OnoDafedjaye
	DileshDesai*+	Appointed11.10.22
	Chiquita Delisser	Resigned23.3.23
	AddisonDevlin+	Appointed11.10.22
	Olivia Douglas	Resigned5.7.22
	MichelleMatherson	Appointed Chair13.6.23
	KurbanHaji
	LisaMead
	Will Nicholson.	Resigned12.12.22
	DameJoanRuddock DBE*+	ResignedChau 12.6.23
	RuthWye
	*Denotes member ofFinance, HR &Operations Sub-committee
	+Denotesmember ofthe Building DevelopmentBoard
PrincipalStaff	Gavin Barlow-Chief Executive
	SenayGaul-Managing Director
	VickiAmedume- Creative Director
	MaryNri-FinanceDirector
Bankers	CAF BankLtd	HSBC Bankplc
	KingsHill	85-87Lewisham HighStreet
	WestMalling	Lewisham
	KentM194TA	LondonSE13 6BE
Auditors	Moore KingstonSmithLLP
	Chartered Accountants
	OrbitalHouse
	20EasternRd
	RomfordRM1 3PJ
Solicitors	RosenblattSolicitors
	9-13StAndrew Street
	London EC4A3AF

	Unrestricted NotesGeneral	Unrestricted NotesGeneral	Unrestricted Designated	Unrestricted Designated	Unrestricted Revaluation	Restricted lncome	Restricted Capital	Restricted Capital	2023	Unrestricted General	Unrestricted Designated	Unrestricted Designated	Unrestricted Revaluation	Restricted lncome	Restricted Capital	Restricted Capital	2022
		Funds		Funds	Reserve	Funds		Funds		Funds		Funds	Reserve	Funds		Funds
lncome		t		â	f	r		t	t	L		t	Ê	Ê		Ê	Ê
Donations and Grants	2	356,033				19,353			375,386	486,909				4,467			491,376
Charitableactivities:	3
Artistic programmes		206,798				1,755,286			I,962,084	225,120				1,800,923		-	2,026,043
Centre operations		518,237							518,237	376,335						45,570421,905
External Contracts		748,449							748,449	676,986						-	676,986
Totalincome		1,829,517				1,774,639			3,604,1561,765,350					r,805,39045,570			3,616,310
Expenditure	4
Raising funds		72,459							72,459	65,109							65,109
Charitableactivities:
Artistic programmes		665,295		84,064		2,325,517		28,767	3,103,643	663,575		60,322		1,677,355		28,195	2,429,447
Centre operations		355,451		36,027				12,329	403,807	221,689		25,853				12,093	259,625
External contracts		656,873				112,142			769,015	637,570							637,570
Total expenditure		1,750,078l2o,o9l				2,437,65941,096			4,348,924 1,587,94386,17s					1,677,35540,278			3,391,751
Net income/(expenditure)		79,439		(120,091)		(663,020)		(41,096)	(744,7681	177,407		(86,175)		128,035 5,292224,559
Transfersbetween funds		(4,310)		4,310						(170,394)		170,394
Netmovementin funds		75,129		(115,7811	0	(663,020)		(41,096)	(744,7681	7,0'13		84,219		128,035 5,292224,s59
Balancebrought forward		562,765		974,1812,900,000		1,421,645967,194			6,825,785	555,752		889,9622,900,000		1,293,610		961,902	6,601,226
Balance carried fonivard	11	637,894		858,4002,900,000758,625926,098					6,081,017	562,765		974,1812,900,000		1,421,645		967,'194	6,825,785

	Note			2023			2022
			â			g	Ê		Ê
Fixedassets	8				4,546,729			4,663,853
Gurrent assets
Stock			6,049				4,635
Debtors	I		229,864				491,825
Cash atbankand in hand		2,	110.676				2,461,286
Total current assets		2,346,590					2,957,746
Creditors:amounts fallingdue
withinoneyear	10	(752,454)					(714,418|
Netcurrent assets					1	136		2	328
Greditors:amounts fallingdue
afteroneyear	10a					(5e,847)			(81,3e6)
Netassets	13				6,08'1.017			6,825,785
Funds	11
UnrestrictedGeneral						637,894			562,765
RevaluationReserve					2,900,000			2,900,000
Designated CapitalFunds						598,400			6ô4,181
Designated lncomeFunds						260,000			310,000
Restricted CapitalFunds	12					926,098			967,194
Restricted lncomeFunds	12					758,625		1,421,645
					6,081,017			6,825,785

	2023	2022
	e	I
Cash Flowfromoperatingactivities
Netmovementinfunds	(744,766)	224,559
Depreciationcharges	124,176	125,135
lnterestpaid	3,743	4,570
Decreasein stock	(1,414)	1,165
Decreaseindebtors	26',1,961	14,875
(Decrease)/lncreaseincurrentliabilities	38,035	(116,539)
Netcashprovidedby operatingactivities	(318,265)	253.765
Gash Flowfrom investing activities
LoanDrawDown
Loanelementincurrent liabilities
Capitalrepayment	(21,54e)	(20,689)
lnterestpaid	(3,743)	(4,570)
Purchase offixed assets	(7,053)	(47,105)
Netcash usedin investing activities	(32,345)	_J!2,99!L
Changein cash and cash equivalentsinthereportingperiod	(350,610)	181,401
Cash andcash equivalentsatbeginningof reportingperiod	2,461,286	2,279,885
Gash andcash equivalentsattheendof reportingperiod	2,110,676	2,461.286

,andfloor area occupied	by,eachsuchacti	vity-as follow	s:
	Salaries	Premises	Deoreciation	Administration
Cost offundraising				3o/o
Artistic programmes	Dependent	57.5%	70o/o	55%
Centre operations	on role	42.5o/o	30%	17o/o
Externalcontracts				25%
		100%	100%	1j0o/o

2.Donations and grants
	Unrestricted	Unrestricted	Restricted	Restricted
	General	Designated	Income	Capital	Total
	Funds	Funds	Funds	Funds	2023
	Ê	e	€	f	Ê
Arts Council England - Core	179,252				179,252
ArtsCouncil England - CRF
London Boroughof Lewisham	150,000				150,000
Sundry donations and grants	26,781		19,353		46,134
Total2023	356,033		19,353		375,386

	Unrestricted	Unrestricted	Restricted	Restricted
	General	Designated	Income	Capital	Total
	Funds	Funds	Funds	Funds	2022
	€	Ê	Ê	€	€
Arts Council England - Core	181,876				181,876
ArtsCouncil England-CRF	160,635				160,635
London Boroughof
Lewisham	137,459				137,459
Sundrydonationsand
grants	6,939		4,467		11,406
Total2022	486,909		4.467		491,376

3. Incometofurtherthec	harity'sobjectives
	Unrestricted	Unrestricted	Restricted	Restricted
	General	Designated	lncome	Gapital	Total
	Funds	Funds	Funds	Funds	2023
	Ê	€	Ê	t	Ê
Artisticprogrammes
Grants			1,248,786		1,248,786
Boxoffice,hires andfees	106,299		206,680		312,979
Recharged costs	83,710		113,461		197,171
Theatrebar	16,789				16,789
Youth contract			65,000		65,000
Other income			121 359		121 359
	206,798		1,755,286		1.962.084
Centreoperations
Grants	27,727				27,727
Service charges	235,327				235,327
Communityhires	36,701				36,701
Communitycaféhar	106,118				106,118
Otherincome	112,364				112.364
	518,237				518,237
External contracts
Grants	1,011				1,011
Contractincome	747,438				747.438
	748,449				748,449
Total2023	1.473.484		1.755.286		3,228.770
	Unrestricted	Unrestricted	Restricted	Restricted
	General	Designated	lncome	Capital	Total
	Funds	Funds	Funds	Funds	2022
	f	Ê	Ê	Ê	Ê
Artisticprogrammes
Grants	12,810		1,488,293		1,501,103
Boxoffice,hires andfees	114,323		21,853		136,176
Rechargedcosts	63,645		111,645		175,290
Theatrebar	22,830				22,830
Youth contract			65,000		65,000
Other income	11,513		114,132		125,645
	225J20		1,800,923		2,026.043
Centreoperations
Grants	91,621			45,570	137,191
Servicecharges	222,558				222,558
Communityhires	18,688				18,688
Community cafelbar	22,385				22,385
Otherincome	21,083 376,335			21,083 45,570421,905
Externalcontracts
Grants	30,436				30,436
Contractincome	646,550				646,550
	676,986				676,986
Total2022	1.278.441		1.800.923	45,570	3,124,934

4.Expenditurebynatural	classificat	ion
	Raising	Artistic	Community		External		Total
	funds	programmes		centre	contracts		2023
Direct costs	Ê	€		â		Ê	Ê
Artists'fees		255,089				21,116	276,205
Technical		39,443				1,788	41,231
Marketing		101,593		782		5,552	107,927
Salaries andfees		1,501,303		66,975		306,998	1,875,276
Stockforresale		12,106		33,967		57	46, I30
Other project costs		741,764 22,609 2,651.298124.333				374.112 709	1,138,485 3,485.254
Support costs
Salaries and fees	52,382	256,228		185,275		32,024	525,909
Premises		51,683		38,200			89,883
Depreciation		85,678		37,838		660	124,176
Administration	3,205	58,756		18,1 61		26,707	106,829
Governance	16,872 72.459	452,345		279,474		59,391	16,872 863,669
Total2023	72,459	3,103,643 403,807				769.015	4,348,924
	Raising	Artistic	Gommunity		External		Total
	funds	programmes		centre	contracts		2022
Direct costs	Ê	â		t		Ê	t
Artists'fees		154,816				19,078	173,894
Technical		21,588				676	22,264
Marketing		86,925		167		2,693	89,785
Salaries andfees		956,147		20,002		245,419	1,221,568
Stockforresale		12,558		7,066			19,624
Other project costs		740,283		12.784		311 137	1.064.204
		1,972,317		40.019		579.003	2,591.339
Support costs
Salaries andfees	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	13,203 65,109	457,130		219,606		58,567	13,203 800,412
Total2022	65,109	2,429,447 259.625				637.570	3,391,751
5.Netincomeforthe year					2023		2022
					€		Ê
Thisis stated afterchargingfor:
Auditor'sremuneration:
- auditfees forcurrentyear					16,872		13,203
Depreciation:
- assetsowned directlyby	thecompany				124,176		125,135

6.	Staffcostsand numbers	2023	2022
		â	Ê
	Thecost offeesandsalaries disbursedduringtheyearwere
	Gross salariesandwages	1,727,059	1,351,980
	Socialsecuritycosts	155,085	115,453
	Pensioncontributions	32,343	26,215
	Redundancies		195
		1,914,487	1,493,843
	Fees andotherremuneration	725 328	670 995
		2,639,815	2,164,838
	Keymanagement personnel comprisetheTrustees, Chief
	Executive Officer, ChiefOperatingOfficer, FinanceDirector and Artistic Director from 2023. Thetotal cost*(seebelow)includingall employee benefitsof	Ê	t
	the keymanagementpersonnelare:	252 180	177,116
	The average number (full time equivalent) of employeesduring
	theyearwas:
		2023	2022
		No.	No.
	Artistic programmes	17	14
	CanadaWater Theatre	2	2
	The DeptfordLounge	7	6
	Centre operations	15	12
	Supportstaff	13	10
		_-55

TangibleFixedAssets
				Other
			Equipment,
	Freehold	Theatre	Gomputer	Fixtures
	Property	Equipment	Equipment	&Fittings	Total
	€	Ê	Ê	€	Ê
Costor valuation:
Al1 April2022	7,404,782383,761		14,535	150,793	7,953,871
Additions			1,666	5,387	7,053
Disposals At31March 2023	7.404.782	(287,318) 96,443	(14.535) 1.666	n813e) 138.041	(319,992) 7.640.932
Depreciation:
At1April2022	2,871.777	336,027	14,535	67,679	3,290,018
Provisionfortheyear	88,561	17,389	555	17,671	124,176
Disposals		(287,318)	(14.535)	n8.13e)	(319,992)
At31March 2023	2,960.338	66,098	555	67.211	3,094.202
NetBook value
At31March 2023	4.444.444	30.345	1.111	70830	4.546.730
At31March2122	4,533.005	47,734		83.114	4,663,853

eholdlandpledged assecurityforthebankloan(seenotel0b 9	).
.Debtors		2023	2022
		€	E
Trade debtors		209,603	481,487
Less bad debt provision		(3,480)	(3,480)
Other debtors		3,235	5,823
Prepayments andaccruedincome		20,506	7,995
		229,864	491,825
10.Creditors: Amountsfallingduewithinoneyear		2023	2022
		€	€
Tradecreditors		236,215	209,009
Taxesand socialsecuritycosts		46,134	81,589
Bank Loan		21,549	20,690
Deferred income(note10a)		126,291	110,286
Other creditors		232,707	229,453
Accruals		89,558	63,391
		752,454	714,418
10aMovement inDeferredlncome	At lApril	Net movement	At 3lMarch
	2022	in year	2023
	Ê	Ê	€
Grantsinadvance	8,208	11,792	20,000
RoomHire and boxofficein advance	102.078	4,213	106.251
	110.286	005	126,291

	10bGreditors: Amountsfallingdueafter oneyear	10bGreditors: Amountsfallingdueafter oneyear		2023 Ê	2022 î	2022 î
	Bank Loan			59,847		81,395
	TheAlbanyhad a loanfacilityof Ê130,000fromHSBC bankin
	2020.Theloanis repayable over 6yearsuntil October2026.
	The interest rateontheloan is3.95%+BEBR. Theloanwas
	used tofundaboilerreplacement	andessentialelectrical
	rewiring.
				59,847		81,395
11	Summarised movements of funds	At IApril 2022	lncoming resources	Resources expended	Transfers between funds	At 31 March 2023
		Ê	Ê	Ê	r	Ê
	Unrestricted-General	562,765	1,829,518	(1750,077)	(4,310)	637,896
	Unrestricted-RevaluationReserve	2,900,000				2,900,000
	Designated-Capital	664,181		(65,781)		598,400
	Designated-BusinessDevelopment	50,000		(54,3r0)	104,310	100,000
	Designated-CreativeDevelopment				100,000	100,000
	Designated-Maintenance	60,000				60,000
	Designated-COVIDFund	200,000			(200,000)
	Restricted-Capital	967,194	-	(41,0e6)		926,098
	Restricted-lncome	1,421,645	774.639 1,	(2.437,659|	758,625
		6,825,785	3,604j57	(4,348,923)		6,081,019

Summarised movements of funds	At 1April 2021	lncoming resources	Resources expended	Resources expended	Transfers between funds	At 3lMarch 2022
	E	E		E	€	Ê
Unrestricted-General	555,752	1,765,350	(1,587,943)		(170,394)	562,765
Unrestricted-RevaluationReserve	2,900,000					2,900,000
Designated-Capital	729,962			(65,781)		664,181
Designated-BusinessDevelopment	50,000			(20,394)	20,394	50,000
Designated-Maintenance	60,000					60,000
Designated-COVIDFund	50,000				150,000	200,000
Restricted-Capital	961p02	45,570		(40,278)		967,194
Restricted-lncome	1,293,610	r,805,390	(1,	677,355)		1,421,645
	6,601,226	3,616,310	(3,391,751)			6,825,785

12	Restricted Funds	AtIApril 2022	lncoming resources	Resources expended	Resources expended	Transfers	At3lMarch 2023
		Ê	Ê		Ê		I
	lncome Funds
	Esmée Fairbairn Foundation (FAC)	15,987			(15,ees)	8
	Family Arts	79,349	139,041		(171,095)		47,295
	Fun Palaces	373,506	309,208		(355,707)		327,007
	Garden Project	11,838	26,471		(23,947)		14,362
	Meet Me at theAlbany(MMATA)	19,333	21,008		(36,276)		4,065
	Young Londoners fund	13,117	77,419		(90,662)	126
	Young PeoplesProgramme	156,234	146,713		(161,188)	(134)	141,625
	Borough of Culture	515,256	954j02	(1,392,490)			76,868
	TheHome	15,218	13,455		(19,448)		9,225
	JackPetchey	8,891	(4,100)				4,791
	Contracts	145,879			(112,142)		33,737
	BBC CiN&National Lottery Community Fund#iwillFund Grant		4,985		(3oo)		4,685
	Weston CultureFund	6,219			(6,21e)
	Cockayne Project		10,000				10,000
	AreYou There	23,900	5,997				29,897
	AssociateArtists	28,750	10,129		(770)		38,109
	BuildingtheFuture UK CRF	9,950 (1,782)	45,000		(36,209		9,950 7,009
		1,421,645	1,759,428	(2,422,447)			758,626
	GapitalFunds
	Restricted- CapitalFunds	967,194			(41,096)		926,098
		967,194			(41,096)		926,098
	Total Restricted Funds	2,388,839	1,759,428	(2,463,543)			1,684,724

12Restricted Funds	AtIAprillncoming 2021resources ÊÊ	AtIAprillncoming 2021resources ÊÊ	AtIAprillncoming 2021resources ÊÊ	Resources expended Ê	Transfers	At3l March 2022 Ê
lncome Funds
Ed Renshaw Fund	(431)			431
EsméeFairbairnFoundation(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 theAlbany (MMATA)	11,563	97,672		(89,901)		19,333
NationalTheatre Connections	9,864	925		(526)		10,263
YoungLondoners fund	19,253	39,265		(45,401)		13,117
YoungPeoplesProgramme	136,062	229,229		(21e,320)		145,971
National Lottery
Community Fund(training)	8,933			(8,e33)
Borough of Culture	88,970	611,974		(185,688)		515,256
TheHome	(13,1 19)	118,983		(e0,646)		15,218
lDBabylon	938	3,391		(4,325)
JackPetchey	3,791	5,850		(750)		8,891
Contracts	145,879					145,879
YouthMusic	(4,001)	2,870		1,131
Here & Nowproject	(e40)			940
National Lottery 25YearFund	169,730	76,854		(246,584)
Weston CultureFund	271,512	(60,570)		(204,724)		6,219
Artistof Change	35,218			(35,218)
ACEProjectgrant		84,054		(84,054)
AreYou There		23,900				23,900
AssociateArtists		34,800		(6,050)		28,750
BuildingtheFuture		13,500		(3,550)		9,950
UK CRF				(1,782)		(1,782)
	1,293,6101,805,390		(1,677,355)			1,421,645
Capital Funds Restricted -Capital Funds	961,902 961,902	45,570 45,570		Ø0.278\ (40,278)		967,194 967,194
Total Restricted Funds	2,255,5121	,850,960	(1,717,633)			2,388,839

13.Analysisofnetasse	tsbetweenfunds
	Unrestricted General Funds	Unrestricted Designated Funds	Revaluation Reserve	Restricted lncome Funds	Restricted Capital Funds	Total
						2023
	Ê	Ê		€	â	Ê
Tangiblefixedassets	131,365	589,267	2,900,000		926,098	4,546,730
Stocks	6,049					6,049
Debtors	225,864					229,864
Cash atbank,in hand	1,092,051	260,000		758,624	1	2,110,676
Current liabilities	(752,454)					(752,454)
Longtermliabilities	(59,847)					(5e,847)
at 31 March 2023	647,028 849,2672,900,000 758,624926,099					6,081,017

	Unrestricted General Funds	Unrestricted Designated Funds	Revaluation Reserve	Restricted lncome Funds	Restricted Capital Funds	Total
						2022
	€	€		€	Ê	e
Tangiblefixedassets	132,741	664,181	2,900,000		966,931	4,663,853
Stocks	4,635					4,635
Debtors	491,825					491,825
Cash atbank,in hand	729,378	310,000		1,421,645	263	2,461,286
Current liabilities	(714,418)					(714,418)
Longtermliabilities	(81,396)					(81,3e6)
at31March2022	562,765 974,1812,900,0001,421,645				967,194	6,825,785

Grantsanddonationsreceivable during the year	2023	2022
	f	€
Unrestricted grantsanddonations
London Borough of Lewisham
-annualrevenue support	150,000	137,459
Arts Council England
-annualrevenue support	179,252	181,876
Arts Council England-CRFgrant		160,635
Sundry donations	26,781	6,939
	356,033	4g6,909
Restricted income grantsanddonations
Arts Council England-Family Arts	132,392	132,392
Arts Council England-Projectgrant;NationatLottery 25thAnniversary		76,854
Arts Council England-Other	1,685	128,169
Anonymous Trust1	3,333	6,667
AnonymousTrust2	10,000

14.	Grants and donations receivableduringtheyear (continued)	2023 f	2022 Ê
	The BaringFoundation	29,500
	BBC CiN&NationalLotteryCommunityFund#iwillFund Grant	4,985
	BritishCouncil	5,997	23,900
	CityBridgeTrust	16,541	4,875
	Cockayne-Grants for theArts &LondonCommunity Foundation	10,000
	Coronavirus JobRetention Scheme		19,162
	D'Oyly CarteCharitableTrust		4,750
	Entelechy Arts	4,943	6,351
	Esmée FairbairnFoundation		52,000
	TheFentonArts Trust	5,129
	GarfieldWestonFoundation		20,000
	Goldsmiths,UniversityofLondon	3,925	5,000
	The GolsoncottFoundation		1,000
	GreaterLondonAuthority	141,460	75,925
	Jack PetcheyFoundation	5,900	5,850
	KickstartGrants	46,580	37,957
	L&QFoundation		10,000
	TheLecheTrust	4,000
	TheLeeCharityofWilliamHatcliffe	3,226
	LondonBoroughofLewisham
	-Lewisham lnvestmentFund		57,541
	-Boroughof Culture	482,620	428,205
	- Othergrants		3,586
	- Covid/Restartgrants		80,000
	London Youth	19,900	5,000
	Lucille Graham Trust		3,000
	Mayor ofLondon	11,000	10,000
	National Lottery CommunityFund	300,000	392,986
	NationalTheatre		925
	Paul HamlynFoundation		2,500
	PRS Foundation:TheOpenFundfor Organisations		8,550
	RoyalOperaHouse		3,000
	TheRoyalVictoriaHall Foundation	1,500
	Scottish Libraries(SLIC)	7,572	7,020
	Garrick CharitableTrust	5,000
	The Home	13,455	2,457
	TheatreduPelican		3,391
	Youth First	6,880	1,920
	Youth Music		29,798
	Private donations-Every Childproject		1,079
	Private donations-FamilyArtsproject	16
	Private donations -Meet me atthe Albany	8,569	1,077
	Private donations- Gardenproject	4,199	1,941
	Private donations-Borough ofCulture	6,569
	Private donations-YoungCreatives		370
		1,296,876	1,673,198
	Totalgrantsanddonations	1,652,909	2,160,106