Company registration number: 05462708 Charity registration number.. 1119396 Lewisham Education Arts Network (LEAN) IA company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 March 2024 Field Sullivan Limited 9 Hare & 8illet Blackheath SE3 ORB
Lewisham Education Arts Network (LEAN) Contents Reference and Administrative Details Trustees, Report 2to7 Independent Examiner's Report 8t09 Statement of Financial Activities io Balance Sheet li Notes to the Financial Statements 12to23
Lewlsham Educatlon Arts Network (LEAN) Reference and Administrative Details Chairman Veronlca Jobbins MBE Secretary Veronica Sarmiento Trustees Sheree-marie Abraham Jessica Austln-Burdett Maria Conyard Anna Croall Helena Emmanuel Holly Henrv Veronica Jobbins M8E Julia Mirkin Dearbhaile Nairn Jason Page Veronica Sarmiento Beatrice Semple James Thomas Emma Webster Charity Registratlon Number 1119396 Company Registration Number 05462708 The charity is incorporated in England and Wales. The Albanv Douglas Way London SE8 4AG Reglstered Office Independent Examiner Field Sullivan LSmited 9 Hare & Billet Blackheath SE3 ORB Bankers HSBC Bank plc 85 Lewisham Hlgh Street London SE13 6BE Page I
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 and auditors, report of the charitable company for the year ended 31 March 2024. OBJECTIVES AND ACTIVITIES LEAN, established in 2000, has much to be proud of in achieving its primary ambition and purpose as an arts and cultural education support organisation, championing arts learning for chlldren and young people across Lewisham through promotlng the growth of creative partnership working. Leading the local cultural education partnership, LEAN Initlates, alone, and frequently in partnership, an extensive range of projects, services and activities empowering and inspiring our members to collaborate through the development of active networks, brokered support and facilitating collaborative working. 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 2023- 2024 We are very pleased to report that LEAN'S funding from Lewisham Council's Main Grants Programme origlnally secured for the 3 years, 2022 - 2025 has been extended to March 2026. Thls Is a signif icant endorsement of the impact of LEAN wlthin the borough. l.Fundralslng Support LEAN has also been funded by Lewisham Council for 4 years 2022 - 2026 to host a Lewisham Fundraising and Development Manager (Arts) post a5 part of an Initiative to support the voluntary, arts and sports sectors. In 2023 Chloe Booth and Lindsay Harrod shared this post as a part-time consultant from May until the end of December. Both have had extensive experlence in arts fundraising working with trusts and foundations and mernbership, major donors, corporates. event fundraising as well as providing advice, support and training for the arts sector. The Arts Fundraising Development Manager role was covered by the LEAN team for a short period at the beginning of 2024 with new arrangements in place from April 2024. Ouring 2023 the Art5 Fundraising Development programme supported by LEAN was In direct contact with 36 individual and organisations, delivering: 29 Advice surgerieslbid reviews Fundraising focussed Breakfast Club in July attended by 19 people An ACE Fundraising workshop organised jointly wlth the Albany in October providing networking, support and information sharlng for 26 artists working with chlldren and young people. A Fundraising Strategy workshop at the Albany in November attended by 18 people. A Fundralslng Conference at Fellowship Inn Bellingham attended by 84 people organised jointly with the Fundraising and Development Managers hosted by Lewlsham Local and Age UK Southwark and Lewisham, The LEAN team also supported a Data Event held at Lewisham Chambers in November Improve Funding Applicotions and Find out More about Lewlsham - led by the Fundraising and Development Managers hosted by Lewisham Local and Age UK Southwark and Lewisham,. attended by 19 people Page 2
Lewisham Education Arts Network ILEAN) Trustees, Report 2.Workforce support, development and sector communicatlon LEAN has continued to support the arts and cultural workforce and those Involved with providlng creative experiences for children and young people by; Supporting 12 people through one to one/small group advice sessions providing bespoke support based on individual need. • Organlsing face to face and online network events Communication through our website, monthly bulletins, targeted newsletters Ito arts freelancers and teachers for exarnplel, events, meetings and training. LEAN website received 12268 visits, exceeding our annual target by over 50°A. Arts Freelancer Breakfast Network: 16 mailings to 16S Lewisham freelance creatives. 4 In person meetings In addition to the fundraising workshops outlined above. These included in April 2023 a meeting with Amy Lloyd and Patricia Underwood at Catford Library focused on presentlng opportunities and resources that Lewlsham Librarles has to offer freelancers and in March 2024 the meeting at the Migration Museum and co-hosted with Jason Page, Operations Manager & Community Engagement Programmer, who updated the group on the Museum's future plans and how they worked with freelancers and gave a tour of the new exhibition Heart of the Natlon: Migration and the Maklng of the NHS. A total of 44 freelancers attended this year (excluding Fundraising event above). Cultural Connectors.. LEAN sent 15 newsletters to 167 Cultural Connectors, a network of school-based teachers initially set to promote Borough of Culture opportunities. This was relaunched as an ongoing programme to provide news and opportunities for schools in the borough connecting them with arts projects and arts organlsations in Lewisham. Termly in-person meetings at a Borough Arts Venues was also provided and a total of 16 Cultural Connectors attended this year.. •18 October 2023 at Goldsmiths, CCA Gallery which included a Special exhibition tour wlth Adrianna, Engagement Producer at CCA followed by a presentation of the current CCA programme of workshops for schools and offers for teachers, and LEAN'S Sharon Trotter led a dlscussion on Lewisham's new Cultural Strategy. •6th March 2024 at Cockpit Deptford. Attendees were given a special introduction to Cockpit's brand-new Learning Centre. enjoyed a print makSng taster workshop and found out about Cockpit's upcoming opportunities for schools and young people with Chris Webb, Engagement Producer. Youth Arts Bulletln: Three newsletters were sent out to the network during this period..Membership totals 112 recipients with 34 free and low-cost opportunities and activlties for children and young people shared. LEAN has continued to support and keep up to date on current issues in the arts education sector through membership of Particlpatory Arts London and Lewlsham Visual Arts Network which was developed by Deptford X, APT Gallery and Studios, Goldsmiths CCA and LEAN. Julia Ravenscroft ILEAN Programme Engagement Officer) has regularly attended the Bellingham Interagency meeting which takes place in Bellingham six times a year. Page 3
Lewisham Educatlon Arts Network (LEAN) Trustees, Report 3.Events and Projects Joined Up Working-A Cultural Strategy for Lewlsham - February 2024 LEAN'S major annual event and AGM took place at Deptford Green School wlth the theme of Lewisham's new Cultural Strategy in February 2024. LEAN will be leading on the formation of a Cultural Education Partnership for the Borough In order to implement the Lewisham Cultural Strategy published in July 2023 by Lewisham Council eeches Keynotes: Sakthi Suriyaprakasam, Head of Culture and Community Development and Nancy Stridgen, Cultural Partnership Manager, Culture and Community Development - Lewisham Council present Lewisham's Cultural Strategy. Sharon Trotter, LEAN- How LEAN is working with the New Cultural Strategy as Education Partner, Worksho The importonce of art in anti-rocist education.. A collaborotive reflection (Stephen Lawrence Research Centre and Peoplescape Theatre). Youth volce.. Involving young people at every stage of your project On1-Ann Gurdon wlth Lewisham Muslc) Accessingfundingfor creative education project5 (Kane Moore Fundralslng Development Manager) Cultural education partnerships.. Learning from others and woys forward for Lewisham (Sharon Trotter LEAN Director and LEAN Chalr Veronica Jobbinsl The event was successful with 53 people attending although 93 registered but did not attend. This was disappointing but rnay have been partly due to very poor weatherl However, IOOQA stating that the talks were very relevant or relevant and workshops were also rated highly with the sarne overall score, IOOYO rated the workshops as very relevant or relevant. We are aware that we need to encourage more teachers from schools to attend and wlll be prioritizing that at our next event. Moving Stories-funded by Paul Hamlyn Teacher Development Fund During this period, our project Moving Stories,. embedding dance and drama in SEND teacher practice, was started, as one of the 8 UK-wide projects chosen for funding from Paul Hamlyn Teacher Development Fund. The project with our arts delivery partners Peoplescape Theatre and Trinity Laban worked durlng the year with six Lewisham schools.. Watergate, Brent Knoll, Drun)beat, New Woodlands and the Resource Bases at Tidemill and Athelney Primary. Art15ts from theatre and dance are collaborating with teachers to improve communlcation skills of young people facing high levels of dlsadvantage. Communication skills are the key to unlocking young peoples, ability to thrive as active, engaged and connected members of their communlties. Combinlng dance and drama wlll ensure the activities are fully inclusive for children with a wlde range of complex needs. Teachers and artists are learning from each other and spreading good practice to colleagues, ensuring young people with special needs have acce5S to a rich and exciting arts curriculum which supports their life skills. Page 4
Lewisham Education Arts Network (LEAN) Trustees, Report Creatlve Careers Programme l Army of Creatlves In 2023 we were very pleased to receive Arts Council England funding1£29,7001 for our Army of Creatives project which ran from March to May 2023. It included placing 80 creative career workshops across 16 different school and education settings in Lewisham and running an innovative group work experlence for Deptford Green School students. We recruited a new Programme Manager, Holly Mccomish, to deliver the whole project. As the majority of the project was delivered out of the period covered by this annual report, it will be fully detailed in the next annual report 2024-2025. The full Army of Creatives project report Is available on the LEAN website. Trustees and offl¢ers The trustee5 and officers serving during the year and since the year end were as follows: Trustees: Sheree-marie Abraham lappolnted 8 May 20241 Jessica Austin-Burdett lappointed 8 May 20241 Maria Conyard Anna Croall (appointed 8 May 20241 Helena Emmanuel lappointed 8 May 20241 Holly Henry Veronica Jobbins MBE Julia Mirkin Lucy Maycock (resigned 8 February 20241 Dearbhaile Nairn Jason Page lappolnted 20 September 20231 Veronica Sarmiento Beatrice Semple James Thomas Emma Webster Chalrman.. Veronica Jobbins MBE Secretary: Veronica Sarmiento Other Officers: Robin Hughes (resigned 5 May 20231 Structurei governance and management Nature os governlng 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
Lewlsham Education Arts Network (LEAN) Trustees, Report Recrultment and appolntment of trustee5 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. Appointment5 are approved at Annual General Meetings of the Company. Induction and training OA 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. Arrangementsfor setting key munagement personnel remuneratlon 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. Flnanclal Instruments Reserves policy It is LEAN'S policy to hold the value of at least 3 months running costs In reserve in case the organisation needs to close down for any reason. Up to 2023-24 this amounted to £15,000 but for 2024-25 we have been able to Increase this to £19,000 to ensure increased salary and rental costs are covered. The reserves are kept in an interest earning deposit account at HSBC. Investment pollcy LEAN does not hold any investments or make investments in other entities. Any income recelved that wlll not be drawn on within the next 6 months is transferred to the HSBC deposit account to earn interest before it is used. Managing flnancial rlsk LEAN sets a carefully researched expenditure budget each year which is approved by the whole board of Trustees and monitored regularly at Trustee meetings through the year. This ensures that all activltles planned are fully funded and sets in place contingencies in case antlcipated fundlng applications are unsuccessful. LEAN has robust financial procedures in place to ensure against the risk of loss or fraud. Expenditure Is managed by the LEAN Director and overseen by the Flnance Subgroup. of 4 Trustees. The HSBC bank account mandate requires 2 signatories for bank transactions.13 trustees + the director are currently named as signatories) Electronic payments made by the director as Primary Online User and also by the Finance Officer as secondary user, approved by the Dlrector. All payments are logged by the Finance Officer and by countersigned electronically by 2 Flnance Group trustee5. One of the Finance Group trustees is set up as Secondary User and monitors the bank account transactlons on a monthly basis. LEAN Finance policy A new comprehensive finance policy has been developed and agreed by the trustees setting out clear procedures for oversight of financial transactions and for procurement processes. Page 6
Lewisham Education Arts Network (LEAN) Trustees, Report Statement of trustees, responslblllties The trustees Iwho are also the directors of Lewisham Education Arts Network ILEANI for the purposes of company law} are responsible for preparing the trustees, report and the financlal statement5 in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accountlng Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the f inanclal statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financlal statements, the trustees are required to.. select suitable accounting policies and apply them consistentlyi observe the methods and princlples in the Charities SORP; make judgements and estimates that are reasonable and prudent,. state whether applScable accounting standards, comprising FRS 102 have been followed, subject to any material departures dlsclosed and explained in the financial statements,. and 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 proper accounting records that can disclose wlth reasonable accuracv at any time the financial positlon of the charitable company and enable them to ensure that the flnancial 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 preventlon and detection of fraud and other Irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. The annual report wa5 approved by the trustees of the charity on 13 December 2024 and signed on its behalf by: Veronlca Jobbins MBE Chairman and trustee Page 7
Lewlsham Education Arts Network ILEAN) 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 lawl on my examination of the accounts of the Lewisham Education Arts Network ILEANI I'the charitable company'l for the year ended 31 March 2024 whlch comprise the Statement of Financial Activities, the Balance Sheet and related notes 10 to 23. Thls report is made solely to the charity's trustees, as a body, in accordance with section 145 of the Charitles Act 2011. My work has been undertaken so that I might state to the charity's trustees those matters l am requlred 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. Responsibillties and basis of report As the charity's trustees of Lewisham Education Art5 Network ILEANI you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'the 2006 Act'l. Having satlsfied rnyself that the accounts of Lewisham Education Arts Network ILEANI are not requlred to be audlted under Part 16 of the 2006 Act and are ellgible 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 20111'the 2011 Act'l, In carrying out my examination I have followed the Directions given by the Charity Commission under section 1451Sllbl of the 2011 Act. An Independent examination does not involve gathering all the evidence that would be requlred in an audit and consequently does not cover all the matters that an auditor considers in giving their opinlon on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently l express no opinion as to whether the financlal 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 examlner's statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examlnation giving me cause to believe.. accounting records were not kept in respect of Lewisham Education Arts Network ILEANI as requlred by section 386 of the 2006 Act,. or 2. the accounts do not accord wlth those records,, or 3. 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 vlew, which 15 not a matter considered as part of an independent examination,, or 4. the accounts have not been prepared in accordance with the methods and prlnciples of the Statement of Recommended Practice for accounting and reporting by charities applicable to charitles preparing their accounts In accordance with the Financial Reporting Standard appllcable in the UK and Republic of Ireland IFRS 1021. Page 8
Lewisham Education Arts Network {LEAN) Independent Examiner's Report to the trustees of Lewisham Education Arts Network (LEAN) ('the Company,) I have no concerns and have come across no other matters in connectlon with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Tim Sullivan FCA Field Sullivan Limited 9 Hare & Billet Blackheath SE3 ORB 13 December 2024 Page 9
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Lewisham Education Arts Network (LEAN) (Registration number; 05462708) Balance Sheet as at 31 March 2024 2024 2023 Note Flxed assets Tangible assets 13 448 1,060 Current assets Debtors Cash at bank and in hand 14 255 247 15 65,510 101,756 65,765 102,003 Credltors: Amounts falling due within one year 16 19,2851 14,0361 Net current assets 56,480 97,967 Net assets 56,928 99,027 Funds of the charitv: Restrlcted Income funds Restricted funds 26,458 52,852 Unrestrlcted Income funds Unrestricted funds 30,470 46,175 Total f unds 18 56,928 99,027 For the financial year ending 31 March 2024 the charity was entitled to exemption from audit under 5ectlon 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities.. 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 The directors acknowledge their responsibS1ities for complying with the requirements of the Act with respect to accounting records and the preparatlon of accounts. The financial statements on pages 10 to 23 were approved by the trustees, and authorised for issue on 13 December 2024 and signed on their behalf bv.. Veronica Jobbins MBE Chairman and trustee The notes on pages 12 to 23 form an integral part of these financial statements. Page 11
Lewlsham Education Arts Network (LEAN) Notes to the Financial Statements for the Year Ended 31 March 2024 I Charlty status The charity is limited by guarantee, incorporated in England and Wales. and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of liquidation. The principal place of business is: The Albany Douglas Wav London SE8 4AG These financial statements were authorised for issue by the trustees on 13 December 2024. 2 Accounting policie5 Summary of signlflcant accounting pollcles and key accountlng 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 compllance The flnancial statements have been prepared in accordance with Accountlng and Reporting by Charities: Statement of Recommended Practice applicable to charities preparlng their accounts in accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 (effective l January 20191 Icharities SORP IFRS 1021 Second edition October 2019). the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. They also comply with the Companies Act 2006 and Charities Act 2011. Basls of preparatlon Lewisham Educatlon Arts Network ILEANI meets the definltion of a public benefit entity under FRS 102. Assets and liabilitles are initially recognised at historlcal cost or transaction value unless otherwise stated In the relevant accounting policy notes. Golng concern The trustees consider that there are no material uncertaintles 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, Judgements and key sources of estlmation uncertalnty In the application of the charlty's accounting policies, the trustees are requSred 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 hlstorical 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 revislons affects both current and future periods. Page 12
Lewisham Education Arts Network {LEAN) Notes to the Financial Statements for the Year Ended 31 March 2024 Income and endowment5 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 legocies Donations are recognised when the charity has been notlfled in writing of both the amount and settlement date. In the event that a donation is subject to condltions 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. Grunts recelvuble Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditlons are attached to the grant and are yet to be met, the Income is recognised as a liabllity 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. Expendlture All expenditure is recognised once there is a legal or constructive obligation to that expendlture, it is probable settlement Is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure headlng that aggregate similar costs to that category. Where costs cannot be directly attrlbuted to particular headings they have been allocated on a basis conslstent with the use of resource5, wlth 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. Churltuble activltles Charitable expendlture comprlses those costs incurred by the charity in the delivery of its activlties and services for Sts beneficiarSes. It includes both costs that can be allocated directly to such actlvities and those costs of an indlrect nature necessary to support them. Grunt provlsions Provisions for grants are made when the intentlon to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable. 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. Page 13
Lewisham Education Arts Network (LEAN) Notes to the Financial Statements for the Year Ended 31 March 2024 Taxation The charity is considered to pass the tests set out in Paragraph I 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 taxatlon 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. Intanglble asset5 Intangible assets are stated in the Balance Sheet at cost less accumulated amortisation and impairment. Thev are amortised on a straight line basis over their estimated useful lives, Tanglble flxed assets Individual fixed assets costing £500.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Amortlsation 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 Website development Amortlsation method and rate 250A straight line Depreciatlon and amortlsation 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 Office equipment Depreclatlon method and rate 25% straight lin Trade debtors Trade debtors are amounts due from customers for merchandise sold or services performed In the ordinary course of buslness. 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 origlnal terms of the receivables. Cash and cash equlvalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquld investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Page 14
Lewlsham Education Arts Network (LEAN) Notes to the Financial Statements for the Year Ended 31 March 2024 Trade credltors 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. Deslgnated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees. Restrlcted income funds are those donated for use in a particular area or for speclfic purposes. the use of which Is restricted to that area or purpose. Penslons and other post retlrement obligations The charity operates a defined contribution pension scheme which Is a pension plan under which fixed contributlons are paid into a pension fund and the charity has no legal or constructive obllgation to pay f urther contributions even if the fund does not hold sufficient assets to pay all employees the benefits relatlng to ernployee service In the current and prior periods. Contributions to defined contributlon plans are recognised in tho Statement of Financial Activlties when thev are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment. 3 Income from donations and legacles Unrestricted Total 2024 Total 2023 General Restricted Donations and legacies. Donations from indlviduals Grants, including capital grants,. LBL- Core grant London Borough of Culture LBL - Fundraiser host Paul Hamlyn Foundation The Samuel Gardner Memorial Trust 41 41 30,000 30,000 30,000 1.500 30,000 30,000 72,300 30,000 72,300 1,000 1,000 30,041 103,300 133,341 61,505 Page 15
Lewisham Education Arts Network (LEAN) Notes to the Financial Statements for the Year Ended 31 March 2024 4 Income from charitable actlvities Total 2024 Total 2023 Fees and supplies 2,850 5 Investment Income Total 2024 Total 2023 Interest receivable and similar income,, Interest receivable on bank deposits 57 6 Expendlture on charitable activities Total 2024 Total 2023 Note Amortisation of website development Telephone and fax Grant funding of activities Staff costs 2,015 490 572 47,565 91.100 19,182 17,021 io 73,379 13,728 12,383 Project costs Support costs 175,440 101,995 7 Grant-maklng Analysls of grants Grants to Instltutions 2024 Analysis People Space Trinity Laban 31,750 15,815 47,565 Paul Hamlyn Fund restricted project has 3 partners, LEAN, People Space, Trinity Laban. LEAN manages the funding and the partners are paSd agreed budget amounts to carry out their agreed budget. Page 16
Lewisham Educatlon Arts Network (LEAN) Notes to the Financial Statements for the Year Ended 31 March 2024 8 Analysls of support costs Support costs Total 2024 Total 2023 Rent 7,722 298 6,682 349 Insurance Office expenses Printing, postage and stationery Trade subscriptions Sundrles 2,206 127 428 174 252 488 714 Marketing Independent examination Legal and professional Bank charges Depreciation of office equlpment 1.099 1,908 2,250 60 611 1,854 1,509 60 613 17,021 12,383 9 Trustees remuneration and expenses No trustees, nor any persons connected wlth them, have received any remuneration from the charity during the year. No trustees have received any reimbursed expenses or any other benefits from the charity during the year. 10 Staff costs The aggregate payroll costs were as follows.. 2024 2023 staff costs during the year were: Wages and salaries Social security costs Pension costs Subcontract cost 67,748 71,589 66 1,690 21,500 162 1,724 Staff training 91,100 73,379 Page 17
Lewisham Educatlon Arts Network (LEAN) Notes to the Financial Statements for the Year Ended 31 March 2024 The monthly average number of persons lincluding senior management / leadership team) employed by the charity during the year expressed as full tlme equivalents was as follows.. 2024 2023 No Charitable activitles 512023 - 41 of the above employees participated In the Defined Contribution Pension Schemes. No employee received emoluments of more than £60,000 during the year. During the year the charlty made the following transactions with key management personnel.. Manager The Manager received remuneration of £29,400 {2023.. £29,920) and £Nil12023'. £1,035) of expenses were reimbursed during the year. 11 Penslon and other schemes Deflned contrlbutlon penslon 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 £1,69012023 - £1,7241. 12 Intanglble fixed assets Other Intanglble asset Total Cost At l April 2023 8,060 8,060 At 31 March 2024 8,060 8,060 Amortisatlon At l April 2023 8.060 8,060 At 31 March 2024 8,060 8,060 Net book value At 31 March 2024 At 31 March 2023 Page 18
Lewisham Educatlon Arts Network {LEAN) Notes to the Financial Statements for the Year Ended 31 March 2024 13 Tangible flxed assets Furniture and equlpment Total Cost At l April 2023 4,062 4,062 At 31 March 2024 4,062 4.062 Depreclatlon At l April 2023 Charge for the year 3,001 613 3,001 613 At 31 March 2024 3,614 3,614 Net book value At 31 March 2024 448 448 At 31 March 2023 1,061 1,061 14 Debtors 2024 2023 Prepayments 255 247 15 Cash and cash equlvalents 2024 2023 Cash at bank 65,510 101,756 16 Credltors: amounts falling due wlthln one year 2024 2023 Trade creditors Other taxation and social security Other creditors 4,651 2,479 247 1,914 268 Accruals 1,908 1,854 9,285 4,036 17 Taxatlon The charity is a registered charity and is therefore exempt from taxation. Page 19
Lewisham Education Arts Network (LEAN) Notes to the Financial Statements for the Year Ended 31 March 2024 18 Funds Current period Balance at I Aprll 2023 Incoming resources Resources expended Balance at 31 March 2024 Transfers Unrestrlcted General General Funds 30,873 30,041 169,1821 23,436 15,168 Deslgnoted Contingency 15,302 15,302 Total unrestrlcted 46,175 30,041 169,1821 23,436 30,470 Restricted Lewisham Live 1,485 16,000 23,436 11,931 11,4801 111,6561 Army of Creatives CEZ 1,000 5,344 123,436) Fundraiser host Paul Hamlyn Foundation 30,000 72,300 138,4261 154,6961 3,505 17,604 52,852 103,300 1106,2581 123,4361 26,458 Total funds 99,027 133,341 1175,4401 56,928 Page 20
Lewisham Education Arts Network (LEAN) Notes to the Financial Statements for the Year Ended 31 March 2024 Previous period Balance at 31 March 2023 Balance at I Aprll 2022 Incomlng resources Resources expended Transfers Unrestricted General General Funds 13,2291 32,855 174,261) 75,508 30,873 De51gnoted Contingency 15,245 57 15,302 Total unrestrlcted 12,016 32,912 174,2611 75,508 46,175 Restricted LBL Early Years Music LBL I nformal Learning Lewisham Live Youth Arts Network 5,000 17,091 14,200 37,342 50,283 465 15,0001 117,342) 111,7601 15,8811 126,8471 14651 12131 18,0001 1,500 {1,2491 19551 115,4611 1,485 16,000 23,436 CEZ CEC - Bellingham Project A New Direction Restricted Funds J 213 30,000 110,0691 11,931 124,594 31,500 127,7341 175,5081 52,852 Total funds 136,610 64,412 1101,9951 99,027 Page 21
Lewlsham Education Arts Network (LEAN) Notes to the Financial Statements for the Year Ended 31 March 2024 The specif ic purposes for which the funds are to be applied are as follows., Lewlsham Live: an annual festival that celebrates children and young people's music and dance in Lewisham. LEAN facilitates and supports the festival. CEZ- partnershlp wlth LB of Lewlsham for Lewisham Llve 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 diverslty, 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. The CEZ project was completed in 2022 as required. The funding remained designated as CEZ as the portions allocated for project management and the salary of the project co-ordinator were never transferred over to Core Costs. The Trustee5 Finance Working Group and the Full Board agreed this was the case and authorised the transfer to unrestricted rather than leave Core Budget in deficit. 19 Analysls of net assets between funds Current period Total funds at 31 March 2024 Unrestrlcted funds General Deslgnated Restrlcted funds Tangible fixed assets Current assets 448 448 24,005 19,2851 15,302 26,458 65,765 19,2851 Current liabilitie5 Total net assets 15,168 15,302 26,458 56,928 Page 22
Lewlsham Education Arts Network (LEAN) Notes to the Financial Statements for the Year Ended 31 March 2024 Prevlous period Total funds at 31 March 2023 Unrestrlcted funds General Designated Restrlcted funds Tangible fixed assets Current assets 1,060 33,849 14,036} 1,060 102,003 14,0361 15,302 52,852 Current liabillties Total net assets 30,873 15,302 52,852 99,027 20 Related party transactlons There were no other related party transactions In the year. Page 23