Company registration number: 05462708 Charity registration number: 1119396
Lewisham Education Arts Network (LEAN)
(A company limited by share capital) Annual Report and Financial Statements
for the Year Ended 31 March 2022
Field Sullivan Limited 9 Hare & Billet Blackheath SE3 0RB
Lewisham Education Arts Network (LEAN)
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 7 |
| Independent Examiner's Report | 8 to 9 |
| Statement of Financial Activities | 10 |
| Balance Sheet | 11 |
| Notes to the Financial Statements | 12 to 23 |
Lewisham Education Arts Network (LEAN)
Reference and Administrative Details
| Secretary | Jak Berry |
|---|---|
| Trustees | Alice Chesterman |
| Beatrice Semple | |
| Dearbhaile Nairn | |
| Emma Webster | |
| James Thomas | |
| Julia Mirkin | |
| Lucy Maycock | |
| Maria Conyard | |
| Robin Hughes | |
| Veronica Jobbins MBE | |
| Veronica Sarmiento | |
| Holly Henry | |
| Charity Registration Number | 1119396 |
| Company Registration Number | 05462708 |
| The charity is incorporated in England and Wales. | |
| Registered Office | The Albany |
| Douglas Way | |
| London | |
| SE8 4AG | |
| Independent Examiner | Field Sullivan Limited |
| 9 Hare & Billet | |
| Blackheath | |
| SE3 0RB | |
| Bankers | HSBC Bank plc |
| 85 Lewisham High Street | |
| London | |
| SE13 6BE |
Page 1
Lewisham Education Arts Network (LEAN)
Trustees' Report
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2022. This is a Directors’ Report required by s417 of the Companies Act 2006. The financial statements comply with current statutory requirements and the requirements of the Memorandum and Articles of Association.
OBJECTIVES AND ACTIVITIES
Lewisham Education Arts Network (LEAN) champions arts education in Lewisham through empowering artist educators, those that work with them and strategic partners to foster high-quality creative opportunities for children and young people. We do this through guidance, consultancy, advocacy, supporting and managing events, communicating in person, and through our website and social media portals.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
PROGRAMME OF WORK 2021-2022
LEAN has been very active over the last year as in addition to its normal range of work it has been funded to take on the role of Education Partner for the London Borough of Culture. As Lewisham’s Cultural Education Partnership, we are very pleased to report that LEAN’s funding from Lewisham Council’s Main Grants Programme has been secured for the next 3 years, 2022 - 2025. This is a significant endorsement of the impact of LEAN within the borough.
LEAN will also be hosting a Lewisham Fundraising and Development post with 3 year funding from Lewisham Council due to commence in September 2022.
1. Communications and advice, guidance and information sharing
LEAN continued to communicate with and support members and the wider sector, increasing frequency of contact and acting as an advocate for arts and culture for young people;
• This year LEAN developed a new website which after some teething problems is now much easier to navigate, visually appealing and provides members with a chance to promote themselves through a public profile. Visits to and page views of our website remain relatively high at 40,000 visits and 58338 page views.
• Our membership continued to grow and we directly communicated with 17,383 people through newsletters, events, meetings and training. excluded 40,000 visitors to the website.
• Our monthly general bulletin and various targeted bulletins and newsletters (to arts freelancers and teachers for example) reached 13156 people, an 18% increase on last year.
• Despite tweeting less than some years we have increased our Likes, mentions and retweets; implying that LEAN is in tune with our audience and tweeting about items of interest.
• LEAN directly supported 33 people (50% above our target) through one to one/small group advice sessions online and continued to support members through online Arts Freelancer Breakfast Clubs. We found people were initially less keen on doing one to ones virtually during 2020/21, although this changed extensively for 2021/22.
Page 2
Lewisham Education Arts Network (LEAN)
Trustees' Report
• The effects of the pandemic and subsequent lockdowns in 2021/22made it impossible for LEAN to market members’ activity through stalls at local festivals and borough-wide fairs such as People’s Day.
2.Building a Borough of Culture Together - February 2022
LEAN’s major annual event and AGM took place at the Migration Museum in Lewisham Shopping Centre. The theme Building a Borough of Culture Together, celebrated London Borough of Culture (LBoC), and included workshops led by the Migration Museum, Sounds Like Chaos, Spread the Word, Alleyne Dance, the Horniman Museum and one led by teachers titled, ‘What is it that teachers are looking for when working with artists?’ A keynote speech was from Gavin Barlow CEO The Albany (Lead Delivery Partner, LBoC).
84 people attended the event. 100% of respondents agreed or strongly agreed with the statement ‘I have a better understanding of how to work with schools’ after attending the workshop led by teachers. 96% stated the talks were very relevant or relevant.
3. LEAN Activities for artists working with children and young people
• Artists’ Development Day at Churchill Theatre / March 2022 delivered through a partnership with Arts Train, The Churchill Theatre and LEAN, it was aimed at people at the early stages of their career and focused on practical help with marketing, meeting funders and putting together budgets all led by industry experts with time for Q&A’s and networking opportunities.
• South East London Arts Award Network: Beyond Targets held online on 9 July 2021 attended by 35 people.
• Lewisham Visual Arts Network - This network was developed by Deptford X, APT Gallery and Studios, Goldsmiths CCA and LEAN. Two meetings were held in 2021.
• Zoom Zoom Boing - 19 May 2021 An online skills' flexing workshop designed to support freelancers to be comfortable adapting their own workshops for online. Run by Sarah King (LEAN) and funded by Goldsmiths as of the Lewisham Creative Enterprise Zone's Creative Business Exchange organised by NX Hub at Goldsmiths, University of London.
4. London Borough of Culture 2022
London Borough of Culture - School Consultation
• LEAN was commissioned by Lewisham Council and the GLA to consult with schools and seek their views about Lewisham as Borough of Culture 2022. Fieldwork for this report was conducted from March - June 2021. An online survey was hosted and shared with schools, 5 group consultations were held via Zoom (22 teachers involved) and a further 7 individual interviews with teaching staff took place during this period.
• Key learnings and recommendations included the need to ensure that timelines were shared early to allow schools to tie in LBoC activity with wider curriculum and school goals, that opportunities were manageable and have flexibility and for all age groups. It was seen as essential that LBoC should be an opportunity to highlight the ongoing cultural work of schools in the borough and that some schools may need additional support to engage in specific artforms. All were clear that LBoC must have a legacy beyond 2022 and support the development of arts education in the borough.
Page 3
Lewisham Education Arts Network (LEAN)
Trustees' Report
London Borough of Culture - Education Partner
• Cultural Connectors - From May 2021 onwards LEAN worked extensively to promote the Cultural Connectors programme to Lewisham schools, early years professionals and child minders, providing a vital link between the LBoC programme and young people. On 10 June 2021 LEAN presented to 80 SMT teachers via Zoom and on 21 July sent the first targeted newsletter to cultural connectors. By 24 November 2021 we had recruited 117 people as Cultural Connectors: 17 secondary, 29 early years, 65 primary and 6 SEND, 57 schools represented (60% of all schools in Lewisham including independents).
• London Borough of Culture Training for School Governors delivered by LEAN and hosted by Lewisham Council.
• Shout About the Arts in Schools: an opportunity to share tips and tricks with other arts engaged teachers - June 2021; 33 people registered including 11 teachers. 23 people attended. Speakers included teachers from Dalmain Primary School, Prendergast Ladyw ell School, Beecroft Garden School and Rachel Harris, Senior Producer, Programme: London Borough of Culture 2022.
5. Projects relating to children and young people - Lewisham Live 2021
The pandemic and various lockdowns still affected Lewisham Live Festival 2021. However a substantial amount of activity still took place. 303 children and young people took part, 36 artists were employed, live and virtual audience numbered 658. There were 47 new pieces of dance or music created, 6 performances and 49 workshops were delivered to a range of the participants.
6. Creative Careers Programme
• Discussing Creative Careers - For the last few years, Natalie Clarke (LEAN Programme Manager) has led the Creative Careers Programme which aims to break down the barriers for young people in Lewisham to working in the creative industries and raise awareness of the breadth of roles in the creative industries and signposts young people to creative development opportunities. This year she led a consultation resulting in a report Discussing Creative Careers, interviewing secondary school teachers, career leads, representatives from creative organisations and running consultations with groups of young people engaged in the arts/culture sector (on youth panels and ambassador programmes).
This research investigated thoughts and perceptions about the creative industries and the routes to a viable career in the industry. It highlighted that schools can struggle to connect with creatives or to find useful information about creative careers, that young people want to hear about creative careers from people who live in their local area and/or share their lived experience and that parents and carers are often wary of creative careers and see them as unstable.
The consultation informed a highly successful Army of Creatives project between the April and June 2022, which introduced young people to creative professionals with shared experiences of growing up and living in the borough and thus inspire them to see a career in the creative industries as a viable option for people from Lewisham.
Page 4
Lewisham Education Arts Network (LEAN)
Trustees' Report
• Unlock the Arts - Easter 2021 a programme of activities for young people introducing them to work in the creative industries; Creative Chats - a series of 45-minute, relaxed, Q&A sessions that took place on Zoom. Industry professionals shared insight from their career journey, offered tips and answered questions and Listen Up! - 4 x 2hour workshop sessions in either music-making, creative-writing or theatre-making alongside a creative professional. The groups were tasked with making a creative response to the theme 'Activism & Me', which was shared back in a final online session. 100% Participants gave the sessions 5 stars and rated them 'brilliant', and all attendees said they would be more likely than not to take part in something like this again. Also, 100% of attendees felt that "they enjoyed working with professionals" and that "they could ask questions".
7. LEAN Advocacy activities
Opportunities for LEAN to represent the Arts Education Sector were severely reduced in 2021/22, partly by the pandemic and partly due to the reduction of many cross-sector partnership boards in Lewisham.
We have continued to represent our sector at the Lewisham Local Collaborative and Bellingham Interagency. To keep up to date on current issues in the arts education sector we also attended online seminars and sessions capital wide such as: Participatory Arts London.
Trustees and officers
The trustees and officers serving during the year and since the year end were as follows:
Trustees: Alice Chesterman (appointed 10 June 2021) Beatrice Semple Dearbhaile Nairn Emma Webster James Thomas Julia Mirkin Lucy Maycock Maria Conyard Robin Hughes Veronica Jobbins MBE Veronica Sarmiento Holly Henry Secretary: Jak Berry
STRUCTURE, GOVERNANCE AND MANAGEMENT
Nature of governing document
LEAN is a charity, registered with the Charity Commission, and a Limited Company. Membership of the company is open to all, and the finances of the company are protected by a commitment of the members to pay sums not exceeding £10 in the event of the company being wound-up.
Page 5
Lewisham Education Arts Network (LEAN)
Trustees' Report
Recruitment and appointment of trustees
The work of LEAN's officers is guided and overseen by a Board of Trustees. Trustees volunteer for appointment and are initially co-opted by the other Trustees at one of the regular meetings of the Board. Appointments are approved at Annual General Meetings of the Company.
Induction and training of trustees
New Trustees receive an induction from the Chair of the Board and from LEAN's Programme Manager to ensure they are aware of their role, legal obligations and duties required by the Charity Commission, and the responsibilities placed upon them by the Memorandum of Association of the Company.
Arrangements for setting key management personnel remuneration
In line with Charity Commission requirements, Trustees receive no remuneration for their work for the Company. Where a Trustee has any actual or potential conflict of interest or may receive any incidental benefit through the actions of the Company, this is notified to the other Board members and recorded in the appropriate section in this Annual Report.
Statement of Trustees' Responsibilities
The trustees (who are also the directors of Lewisham Education Arts Network (LEAN) for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and 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.
Page 6
Lewisham Education Arts Network (LEAN)
Trustees' Report
The annual report was approved by the trustees of the charity on 21 December 2022 and signed on its behalf by:
......................................... Veronica Jobbins MBE Chairman and trustee
Page 7
Lewisham Education Arts Network (LEAN)
Independent Examiner's Report to the trustees of Lewisham Education Arts Network (LEAN) ("the Company")
I report to the charity trustees (who are also Directors for the purpose of company law) on my examination of the accounts of the Lewisham Education Arts Network (LEAN) (‘the charitable company’) for the year ended 31 March 2022 which comprise the Statement of Financial Activities, the Balance Sheet and related notes. 1023
This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my work, for this report, or for the opinions I have formed.
Responsibilities and basis of report
As the charity’s trustees of Lewisham Education Arts Network (LEAN) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of Lewisham Education Arts Network (LEAN) are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the financial statements present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement.
Independent examiner’s statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of Lewisham Education Arts Network (LEAN) as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
Page 8
Lewisham Education Arts Network (LEANI Independent Examlner's Report to the trustees of Lewlsham Education Arts Network (LEAN) {"the Comparf) I have no coneems and have tome across no other matters in connettion with the exarninath)n to which attention should be drawn in this report in tyder to enable a propef understaNlin8 of the Kcounts to be reached. rimothy &Jllivan KA Fleld Sullivan knmited 9 Ha & Billet Blackheath SE3 ORB 21 December 2022 e9
Lewisham Education Arts Network (LEAN)
Statement of Financial Activities for the Year Ended 31 March 2022
(Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income and Endowments from: Donations and legacies 3 Charitable activities 4 Investment income 5 Total income Expenditure on: Charitable activities 6 Total expenditure Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 17 |
Unrestricted £ 35,032 - 2 35,034 (57,769) (57,769) (22,735) 34,751 12,016 |
Restricted £ 102,896 1,200 - 104,096 (28,525) (28,525) 75,571 49,023 124,594 |
Total 2022 £ 137,928 1,200 2 139,130 (86,294) (86,294) 52,836 83,774 136,610 |
Unrestricted £ 44,405 6,690 11 51,106 (58,728) (58,728) (7,622) 42,373 34,751 |
Restricted £ 78,769 - - 78,769 (45,317) (45,317) 33,452 15,571 49,023 |
Total 2021 £ 123,174 6,690 11 129,875 |
|---|---|---|---|---|---|---|
| (104,045) (104,045) 25,830 57,944 |
||||||
| 83,774 |
All of the charity's activities derive from continuing operations during the above two periods.
The funds breakdown for 2021 is shown in note 17.
The notes on pages 12 to 23 form an integral part of these financial statements.
Page 10
Lewisham Education Arts Network (LEAN)
(Registration number: 05462708) Balance Sheet as at 31 March 2022
| Note Fixed assets Intangible assets 11 Tangible assets 12 Current assets Debtors 13 Cash at bank and in hand 14 Creditors: Amounts falling due within one year 15 Net current assets Net assets Funds of the charity: Restricted income funds Restricted funds Unrestricted income funds Unrestricted funds Total funds 17 |
2022 £ 2,015 1,673 3,688 298 140,736 141,034 (8,112) 132,922 136,610 124,594 12,016 136,610 |
2021 £ 4,030 488 4,518 |
|---|---|---|
| 12,917 72,294 85,211 (5,955) |
||
79,256 83,774 |
||
| 49,023 34,751 83,774 |
For the financial year ending 31 March 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The financial statements on pages 10 to 23 were approved by the trustees, and authorised for issue on 21 December 2022 and signed on their behalf by:
......................................... Veronica Jobbins MBE Chairman and trustee
Page 11
Lewisham Education Arts Network (LEAN)
The notes on pages 12 to 23 form an integral part of these financial statements.
Page 12
Lewisham Education Arts Network (LEAN)
Notes to the Financial Statements for the Year Ended 31 March 2022
1 Charity status
The charity is limited by share capital, incorporated in England and Wales.
The principal place of business is: The Albany Douglas Way London SE8 4AG
These financial statements were authorised for issue by the trustees on 16 December 2022.
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102) - Second edition October 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.
Basis of preparation
Lewisham Education Arts Network (LEAN) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Exemption from preparing a cash flow statement
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Page 12
Lewisham Education Arts Network (LEAN)
Notes to the Financial Statements for the Year Ended 31 March 2022
Judgements and key sources of estimation uncertainty
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the periods in which the estimate is revised where revisions affects only that period, or in the period of the revision and future periods where the revisions affects both current and future periods.
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
Investment income
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Page 13
Lewisham Education Arts Network (LEAN)
Notes to the Financial Statements for the Year Ended 31 March 2022
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Intangible assets
Intangible assets are stated in the Balance Sheet at cost less accumulated amortisation and impairment. They are amortised on a straight line basis over their estimated useful lives.
Tangible fixed assets
Individual fixed assets costing £500.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Amortisation
Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:
Asset class Amortisation method and rate Website development 25% straight line
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Depreciation method and rate Office equipment 25% straight lin
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Page 14
Lewisham Education Arts Network (LEAN)
Notes to the Financial Statements for the Year Ended 31 March 2022
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Pensions and other post retirement obligations
The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
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Lewisham Education Arts Network (LEAN)
Notes to the Financial Statements for the Year Ended 31 March 2022
3 Income from donations and legacies
| Donations and legacies; Donations from individuals Grants, including capital grants; LBL - Core grant London Borough of Culture Lewisham Inclusive Growth Builder Arts Council England London & Quadrant LBL - CEZ |
Unrestricted General £ 32 35,000 - - - - - 35,032 |
Restricted £ - - 36,500 40,000 13,483 - 12,913 102,896 |
Total 2022 £ 32 35,000 36,500 40,000 13,483 - 12,913 137,928 |
Total 2021 £ 1,405 43,000 - - 35,594 4,873 38,302 123,174 |
|---|---|---|---|---|
4 Income from charitable activities
| Goldsmiths Fees and supplies 5 Investment income Interest receivable and similar income; Interest receivable on bank deposits |
Restricted £ 1,200 - 1,200 Unrestricted funds Designated £ 2 |
Total 2022 £ 1,200 - 1,200 Total 2022 £ 2 |
Total 2021 £ - 6,690 |
|---|---|---|---|
| 6,690 | |||
| Total 2021 £ 11 |
Page 16
Lewisham Education Arts Network (LEAN)
Notes to the Financial Statements for the Year Ended 31 March 2022
6 Expenditure on charitable activities
| 6 Expenditure on charitable activities | ||
|---|---|---|
| Note Amortisation of website development Telephone and fax Staff costs 9 Project costs Support costs 7 |
Total 2022 £ 2,015 581 60,485 12,620 10,593 86,294 |
Total 2021 £ 2,015 574 57,766 35,272 8,418 |
| 104,045 |
7 Analysis of support costs
Support costs
| Rent Insurance Office expenses Printing, postage and stationery Sundries Independent examination Legal and professional Depreciation of office equipment |
Total 2022 £ 6,626 372 80 - 1,031 1,734 138 612 10,593 |
Total 2021 £ 5,867 375 40 361 - 1,578 35 162 |
|---|---|---|
| 8,418 |
Page 17
Lewisham Education Arts Network (LEAN)
Notes to the Financial Statements for the Year Ended 31 March 2022
8 Trustees remuneration and expenses
During the year the charity made the following transactions with trustees:
Jak Berry
£284 (2021: £2,116) of expenses were reimbursed to Jak Berry during the year.
The money was reimbursed to the trustee for the purchase of four laptops. Only one laptop was purchased before the year end costing £649, three being purchased after the end of the year (two in April and one in May 2021) when the full amount was spent.
At the balance sheet date the amount due from Jak Berry was £Nil (2021: £1,467).
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any other benefits from the charity during the year.
9 Staff costs
The aggregate payroll costs were as follows:
| Staff costs during the year were: Wages and salaries Pension costs Other staff costs |
2022 £ 59,085 1,400 - 60,485 |
2021 £ 56,581 1,175 10 |
|---|---|---|
| 57,766 |
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:
| Charitable activities | 2022 No 7 |
2021 No 5 |
|---|---|---|
3 (2021 - 3) of the above employees participated in the Defined Contribution Pension Schemes.
No employee received emoluments of more than £60,000 during the year.
10 Taxation
The charity is a registered charity and is therefore exempt from taxation.
Page 18
Lewisham Education Arts Network (LEAN)
Notes to the Financial Statements for the Year Ended 31 March 2022
11 Intangible fixed assets
| 11 Intangible fixed assets | ||
|---|---|---|
| Cost At 1 April 2021 At 31 March 2022 Amortisation At 1 April 2021 Charge for the year At 31 March 2022 Net book value At 31 March 2022 At 31 March 2021 |
Other intangible asset £ 8,060 8,060 4,030 2,015 6,045 2,015 4,030 |
Total £ 8,060 |
8,060 4,030 2,015 |
||
6,045 2,015 |
||
| 4,030 |
Development costs
Development costs have been capitalised in accordance with FRS 102 Section 18 Intangible Assets other than Goodwill and are therefore not treated as a deficit to the charity.
12 Tangible fixed assets
| 12 Tangible fixed assets | ||
|---|---|---|
| Cost At 1 April 2021 Additions At 31 March 2022 Depreciation At 1 April 2021 Charge for the year At 31 March 2022 Net book value At 31 March 2022 At 31 March 2021 |
Furniture and equipment £ 2,265 1,797 4,062 1,777 612 2,389 1,673 488 |
Total £ 2,265 1,797 |
4,062 1,777 612 2,389 1,673 |
||
| 488 |
Page 19
Lewisham Education Arts Network (LEAN)
Notes to the Financial Statements for the Year Ended 31 March 2022
13 Debtors
| 13 Debtors | ||
|---|---|---|
| Prepayments Accrued income Other debtors |
2022 £ 298 - - 298 |
2021 £ 312 11,061 1,544 |
| 12,917 |
14 Cash and cash equivalents
| Cash at bank 15 Creditors: amounts falling due within one year Trade creditors Other taxation and social security Other creditors Accruals |
2022 £ 140,736 2022 £ 1,578 2,219 2,581 1,734 8,112 |
2021 £ 72,294 |
|---|---|---|
| 2021 £ - 2,392 1,985 1,578 |
||
| 5,955 |
16 Pension and other schemes Defined contribution pension scheme
The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £1,400 (2021 - £1,175).
Page 20
Lewisham Education Arts Network (LEAN)
Notes to the Financial Statements for the Year Ended 31 March 2022
17 Funds
| Current period Unrestricted General General Funds Designated Contingency Total unrestricted Restricted LBoC Schools Consultation LBoc Education Partner Lewisham Live Army of Creatives CEZ CEC - Bellingham Project A New Direction Total funds |
Balance at 1 April 2021 £ 19,508 15,243 34,751 - - 5,690 - 42,655 465 213 49,023 83,774 |
Incoming resources £ 35,032 2 35,034 5,000 31,500 13,483 40,000 14,113 - - 104,096 139,130 |
Resources expended £ (57,769) - (57,769) - (14,409) (4,973) (2,658) (6,485) - - (28,525) (86,294) |
Balance at 31 March 2022 £ (3,229) 15,245 |
|---|---|---|---|---|
12,016 5,000 17,091 14,200 37,342 50,283 465 213 124,594 |
||||
| 136,610 |
Page 21
Lewisham Education Arts Network (LEAN)
Notes to the Financial Statements for the Year Ended 31 March 2022
| Previous period Unrestricted General General Funds Designated Contingency Total unrestricted Restricted Lewisham Live CEZ CEC - Bellingham Project A New Direction Total funds |
Balance at 1 April 2020 £ 27,141 15,232 42,373 (346) 14,820 597 500 15,571 57,944 |
Incoming resources £ 51,095 11 51,106 40,467 38,302 - - 78,769 129,875 |
Resources expended £ (58,728) - (58,728) (34,431) (10,467) (132) (287) (45,317) (104,045) |
Balance at 31 March 2021 £ 19,508 15,243 |
|---|---|---|---|---|
34,751 |
||||
| 5,690 42,655 465 213 |
||||
49,023 |
||||
| 83,774 |
The specific purposes for which the funds are to be applied are as follows:
Lewisham Live: an annual festival that celebrates children and young people’s music and dance in Lewisham. LEAN facilitates and supports the festival.
CEZ - partnership with LB of Lewisham for Lewisham Live Creative Careers Development project.
CEC - Bellingham: partnership with A New Direction for London Cultural Education Challenge project.
A New Direction: LEAN offers support and development to increase Arts Award take-up in Lewisham.
Education Partner - London Borough of Culture- LBoC is a unique opportunity for Lewisham to celebrate its diversity, arts and cultural history and raise our profile across London; connecting all the histories of Lewisham to our present and harnessing and reflecting the tremendous pride in Lewisham that residents, especially children and young people have. As Education Partner,
School Consultation - LEAN works alongside the Borough of Culture team specifically with the borough’s schools, to ensure schools and pupils are active in collaboration and benefit fully from the programme.
Army of Creatives- In response to needs identified by LEAN’s consultation with Career Leads, Arts Managers and young people, LEAN created a creative careers programme that introduced a diverse group of creative professionals to year 9 students in Lewisham secondary schools.
Page 22
Lewisham Education Arts Network (LEAN)
Notes to the Financial Statements for the Year Ended 31 March 2022
18 Analysis of net assets between funds
Current period
| Current period | |||
|---|---|---|---|
| Intangible fixed assets Tangible fixed assets Current assets Current liabilities Total net assets |
Unrestricted funds General Designated £ £ 2,015 - 1,673 - 1,195 15,245 (8,112) - (3,229) 15,245 |
Restricted funds £ - - 124,594 - 124,594 |
Total funds at 31 March 2022 £ 2,015 1,673 141,034 (8,112) |
| 136,610 |
Previous period
| Intangible fixed assets Tangible fixed assets Current assets Current liabilities Total net assets |
Unrestricted funds General Designated £ £ 4,030 - 488 - 20,945 15,243 (5,955) - ~~19,508~~ 15,243 |
Restricted funds £ - - 49,023 - 49,023 |
Total funds at 31 March 2021 £ 4,030 488 85,211 (5,955) |
|---|---|---|---|
| 83,774 |
Page 23