2021-03-31-accounts - A New Direction London Limited

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REFERENCE AND ADMINSTRATION	DETAILS	...1-2
THE TRUSTEES ANNUAL REPORT.		3-13
OBIECTIVES
MISSION..
VALUES..
ACHIEVEMENTS AND PERFORMANCE
PLANS FOR THE FUTURE AND	RESPONSE TO THE COVID PANDEMIC.	.....8
FINANCIAL REVIEW.		...10
RISK MANAGEMENT.
STRUCTURE, GOVERNANCE AND MANAGEMENT. ......
STATEMENT OF BOARD OF TRUSTEES' RESPONSIBITIES........		.....12
DISCLOSURE OF INFORMATION	TO AUDITORS.	12
AUDITORS' REPORT..		...14-17
STATEMENT OF FINANCIAL ACTIVITIES.		..18
BALANCE SHEET.		.,19
CASH FLOW STATEMENT		..20
NOTES TO THE FINANCIAL STATEMENTS..		..21-32

Trustees' Annual	Trustees' Annual	Report for the year	Report for the year	ended 31"M	arch	2021
REFERENCE AND		ADMINISTRATION		DETAILS
Charity name:			A New	Direction London		Limited
Registered	charity	number:		1126216
Registered	company		number:	06627531
Principal address		and	registered
Office:				50 Worship	Street
				London
				EC2A 2EA
Bankers:				The Co-operative		Bank
				City Office
				80 Cornhill
				London
				EC3V 3NI
Solicitors:				Qrrick
				107Cheapside
				London
				EC2V 6DN
Auditors:				Moore Kingston		Smith	LLP
				Orbital House
				20 Eastern	Road
				Romford
				Essex RM1	3'

LISTOF TRUSTEES, COMPAN	Y SECRETA	Y SECRETA	RY AND EXECUTIVE TEAM	RY AND EXECUTIVE TEAM
The following are the trustees	who served		in the year and up to the date of this report:
~TT N				Dot~ca ~it~
Professor Maggie Atkinson	Chair			20'"May 2015
Matthew Dolton	Treasurer			3' December 2014
Neil Harris				3» December 2014
				(resigned 1» December 2020)
Keeley Williams				23~ September 2014
Ann Ewing				20'" October 2015
Eylan Ezekiel				14'" December 2017
Charlotte Louise Hillenbrand				14'"December 2017
Nick Goss				14'"January 2020
Asma Hussain				30'"September 2020
Guy Mansfield				28'" June 2021
Shamik Chakraborty				28'" June 2021
Executive Team
Steve Moffitt	Chief Executive 8
	Company	Secretary
Rebecca Branch	Programme		Director
Holly Donagh	Partnerships		Director	(resigned 29" May 2020)
Eamonn Flynn	Business	E	Operations	Director
Oliver Benjamin	Director	of	Employment	and Skills

						Year	Year
						ended	ended
						31 March	31March
						2021	2020
				Unrestricted	Restricted	Total	Total
			Notes
Income from:
Donations		and similar income					171
Charitable		activities:
Employment		and Skills			1,090,168	1,090,168	800,190
Increasing		Creative Potential		33,289	63,211	96,500	384,315
Strategic Development					1,684654	1684654	1687540
				33,289	2,838,033	2,871,322	2,872,045
Investment		Income		437		437	545
Other Incoming Resources							1,570
Total				33726	2,838,033	2,871,759	2,874,331
Expenditure		on:
Raising Funds				44,521	400	44,921	41,257
Charitable		activities:
Employment		and Skills			1,028,756	1,028,756	808,587
Increasing	Creative Potential			31,547	85,937	117,484	271,424
Strategic Development					1 665728	1,665,728	1,771,413
				31,547	2,780,421	2,811.968	2,851,424
Total				76,068	2,780,821	2,856,889	2,892,681
Net Income/ Expenditure
before transfers				(42,342)	57,212	14,870	(18,350)
Transfer between funds				10,288	(10,288)
Net Movement in funds				(32,054)	46,924	14,870	(18,350)
Total Funds		at 1st April 2020		550,297	602,982	1,153,279	1,171,629
Total Funds		at 31st March 2021		518,243	649,906	1,168,149	1,153,279

				31 March	2021	31March	2020
			Notes	E
Fixed Assets
Tangible assets Intangible assets					126,702 96,900		80,133
Current Assets
Debtors Cash at bank	and in hand			524,621 1,113,621		328,947 1,156,367
				1,638,242		1,485,314
Creditors due within one		year
Creditors			10	588,942		381,824
Net Current	Assets				1,049,300		1,103,490
Total Assets	less current	liabilities			1,272,902		1,183,623
Creditors due more than		one year	11		(104,753)		(30,344)
Net Assets					1,168,149		1,153279
Reserves
Unrestricted Designated	funds funds		12 12		429,554 88,689		417,087 133,210
Restricted funds			13		649,906		602,982
Total Funds					1,168149		1.153,219

					2021	2021	2020	2020
					K		E	E
Cash flows from operating		activities:				200,845		96,269
Net cash provided by operating			activiTies
Cash flows from investing		activities:
Interest					437		545
Purchase of tangible	fixed	assets			(114,828)		(41,433)
Purchase of intangible fixed assets					~i129,200
						(243,591)		(40,888)
Change in cash						(42,746)		55,381
Cash balance at the	beginning of the year					1,156,367		1,100,986
Cash and cash equivalents		at-end of the year				1,113,021		1,156,367
Reconciliation of net	movement		in funds to net		cash inflow from	operating	activiTies
						2021		2020
1 Net movement in	funds	in the	year			14,870		(18,350)
Depreciation						100,559		45,719
Interest						(437)		(545)
(Increase)/decrease	in debtors					(195,674)		117,746
Increase /(decrease)	in creditors					281,527		(48,301)
Net Cash flow from	operating activity					200,845		96,269
2 Analysis of cash and cash equivalents
Bank and deposits on less		than 3 months'		notice		1,113,187		1,155,933
Cash in hand						434		434
						1,113,621		1,156,367

Incoming Resource	s
This is stated after	charging	the following:
			2021	2020
			E	E
Depreciation			100,599	45,719
Auditor's remuneration
Audit fee			10,000	10,000
Other services			2,412	2,802
Rental —operating	lease		143,604	143,365

Staff Costs	Staff Costs	2021	2020
		E	K
Wages	and salaries	1,025,585	1,035,777
National	Insurance costs	100,514	84,696
Pension	contributions	54,811	55,954
		1,18D,810	1,176,426

						Increasing
					Employment and Skills	Creative Potential	Strategic Development	Total 2021	Total 2020
Unrestdcted					E		E	E	E
AND Consultancy						4,200		4200
Arts Award Training									18,745
East Education Framework						(5,000)		(5,000)
Paul Hamlyn
Tate						34,089		34,089	211,192
Waltham Forest Fashion		Strategy							32,400
						33289		33,289	263,237
Restdcted
Arts Council England	National			Portfolio Bridge			1,529,936	1,529,936	1,506,545
Arts Council Catalyst	Fund								28,400
Arts Council England	Bridge			Expansion			93,195	93,195	93,195
Arts Council England	Tate		Year 3 Evaluation				41,250	41,250	27,000
Barclays					100,000			100,000
Bauer Academy									6,750
Bridge Peer Network					(2,500)			(2,500)	27,500
Clothworkers						6,250		6,250
Create lobs					12,250			12250	58,627
Derwent Fund									5,000
DWP Waltham Forest					25,256				53,600
Greater London Authority					470,651			470,651
HMRC Furlough					19,697	4,150	20,273	44,120
Jack Patchy Foundation									8,316
lohn Coates Charitable		Trust							4,000
London Borough of Brent						15,000		15,000	85,000
London Legacy Development				Corp.	140,245			140,245	120,552
Mayor for London					197,625			197,625	186,000
New Museums School					17,976			17,976	44,542
Screenskills					18,968			18,968
Skipton Building Society						2,811		2,811
South London Investment			Corddor		90,000			90,000
The Co-operative Foundation						35,000		35,000	34,450
The Mercers Trust									25,928
Trust for London									18,500
Wales Millennium Centre									42,168
Total Restricted					1,090,168	63211	1,684,654	2,838,033	2,608,808
Total					1,090,168	96,500	1,684,654	2,871,322	2,872,045

					Increasing
				Employment	Creative	Strategic	Total	Total
				and Skills	Potential	Development	2021	2020
Unrestdcted
Arts Award Training	Costs				4,682		4,682	18,075
Tate Year 3					26,865		26,865	147,504
Paul Hamlyn
Waltham Forest Fashion Strategy								11,692
					31,547		31,547	177,596
Restricted
Arts Council England	Badge					1,493,067	1,493,067	1,&55,590
Arts Council England	Bddge		Expansion			93,195	93,195	94,363
Arts Council England	Catalyst					5,255	5,255	28,400
Arts Council England	Year	3				55,727	55,727	8,683
Barclays				41,667			41,667
Bauer								6,750
Bridge Peer Network				6,972			6,972	760
City of London Corporation								9,600
Clothworkers					6,250		6,250
Create lohs				44,520		186	44,706	58,074
Derwenl Fund							3,650
DWP Waltham Forest				25,256			25,256	53,600
				450,365			450,365	239,265
lack Peichey Foundation								8,316
London Borough of grant				2,740	43/26		45,966	45,896
London Legacy Development			Corp.	142,140			142,140	118,099
Mayor for London				200,555			200,555	195,576
New Museums. school				23,013			23,013	44,073
Screenskills				16,968			16,968
Skipton Building Society					2,811		2,811
South London Investment		Corddor		68,434			68,434
The Co-operative Foundation					30,000		30,000	27,118
The Mercers Trust						18,298	18,298	23,231
Time Inc. UK								14,266
Trust for London				6,126			6,126
Wales Millennium								42,168
Total restdxded expenditure				1,028,756	85,937	1,665,728	2780421	2673828
Total resources expended				1,028,756	117,484	1,665,728	2,811,968	2,851,424

			Increasing
		Employment	Creative	Strategic	Total
		and Skills	Potential	Development	2021	Tota I2020
Communication	costs	19,539	3,908	19,973	43,420	33,312
Support staff costs		31,748	6,350	32,454	70,552	88,645
ITcosts		26,222	5,756	31,978	63,956	47,985
Office costs		18,889	4,146	23,035	46,070	70,612
Premises costs		65,438	14,364	79,802	159,604	182,656
Governance		5,434	1,193	6,627	13,254	19,829
Total support	costs	167,270	35,717	193,869	396,856	443,039

Cost
At 31st March Additions Disposals	2020			160,188 114,828 ~7.241
At 31st March	2021			237,775
Depreciation
At 31st March	2020			80,055
Charge for the year				68,259
Disposals				(37,241)
At 31st March	2021			111,893
Net Book Value 31 March		2021		126,702
Net Book Value 31 March		2020		80,133
. Intangible	Fixed Assets
Cost
At 31st March	2020
Additions				129,200
At 31st March	2021			129,200
Depreciation
At 31st March	2020
Charge for the year				32,200
At 31st March	2021			32,300
Net Book Value 31 March		2021		96,900
Net Book Value 31 March		2020
9. Debtors			2021	2019
				E
Trade debtors			430,703	220,267
Other debtors			1,450	3,213
Prepayments	and accrued	Income	92,468	105,467
			524,621	328,947


0. Creditors: amounts	falling due within one year	2021	2020
			E
Other creditors		4,986	9,824
Project creditors		254,191	48,383
Accruals		213,095	203,444
Deferred income		81,083	65,536
Tax and Social Secudty		35,587	54,637
		588,942	422.309

11. Creditors: amounts	11. Creditors: amounts	falling after more than one year	2021	2020
				E
Deferred	income		104,753	30,344

life of the ass	et (usually to mat	ch the associate	d depreciation charg	d depreciation charg	e).
			Contracted		Capital	Total
			proiecfs		Grants
			K		E	8
Balance as af 1 Apdl 2020			34,089		61,730	95,819
Deferred in year					206,290	206,290
Amount released					2184	1 31
Balance as at 31	March 2021
12. Unrestricted funds
		Balance at	Incoming	Expenditure	Transfers	Balance at
		1"April	Resources			31"March
		2020				2021
		E	E	E
General funds
Brought forward		417,087	33,726	(31,547)	10,288	429,554
Total general funds		417,087	33,726	31,547	10,288	429,554
The following	funds have been set aside by the trustees.

Designated funds:
Development	133,210		(44,521)		88,689
Total designated	133,210				88,689
Tofal unrestricted	550,297	33,726	6,068	10,288	518,243

					Balance at	Total	Total		Balance at
					fv Apdl	Incoming	Resources		31"March
t3	Restricted funds				2020	resources	ex ended	Transfers	2021
					E	E	E
	Arts Council Bddge				346,457	1,550,209	1,493,467		406,199
	ACE Bridge Expansion					93,195	93,195
	ACE Year 3				18,317	41,250	55,727		3,840
	ACE Catalyst				5,255		5,255
	Barclays Bank Community		Fund			100,000	41,667		58,333
	Bridge Peer Nehvork				34,785	(2,500)	6,972		25,403
	Clofhworkers					6,250	6,250
	Creafe lobs				16,343	31,947	44,706		3,584
	Derwenf Fund				5,000		3,650		1,350
	DWP Walfham Forest					25,256	25,256
	GLA				24,008	470,651	450,365		14/94
	lohn Coates Charitable	Trust			4,000				4,000
	London Borough of Brenf				39,104	19,150	45,966	(10,288)	2,000
	London Legacy Development			Corporation	17,510	140245	142,140		15,615
	Mayorfor London				13,719	197,625	200,555		10,789
	New Museums School				5,037	17,976	23,013
	Screenskills					18,968	16,968		2,000
	Skipton Building Society					2,811	2,811
	South London Investment		Corridor			90,000	68,434		21,566
	The Co-operative Foundation				27,232	35,000	30,000		32,232
	The Mercers frusf				27,625		18,298		9,327
	Trust for London				18500		6,126		12374
					602,982	2,838,033	2,780,82'I	10,288	649,906

Analysis of funds
		Unrestricted	Restdicted	Total 2021	Total 2010
		E	f.	E	E
Reserves are represented	as follows:
Fixed assets		56,514	167,088	223,602	80,133
Current assets		798,394	839,848	1,638,242	1,485,314
Liabilities		(336,665)	(357,030	693,695	460469
		518,243	649,906	1,168,149	1,171,629

The c	harity	is committed to makin	g the following payments	under operati	ng leases:
			Land si	Plant si	Land a	Plant si
			Buildings	Machinery	Buildings	Machinery
			E	E	E	E
			2021	2021	2020	2020
Commitments		expiring:
Within	1year		87,032	14,923	114,000	4,332
Within	2to 5	years		6,808	87,032	10832
			87032	21 731	201032	15,164

							Year ended
17. Comparative Statement				of Financial Activities			31rMarch
							2020
					Unrestricted	Restricted	Total
					E	E	E
Income from:
Donations	and similar	income			171		171
Strategic Development						800,190	800,190
Increasing	Creative Potential				229,937	154,378	384,315
Employment and Skills					33,300	1,654,240	1,687,540
					263,237	2,608,808	2,872,045
Investment	Income				545		545
Other Incoming Resources					1,570		1,570
Total					265,523	2,608,808	2,874,331
Expenditure	on:
Raising Funds					27,552	13,705	41,257
Charitable	adivities
Strategic Development					4,132	1,364,897	1,369,029
Increasing	Creative potential				165,579	105,845	271,424
Employment	and Skills				12,017	1,759,396	1,771,413
					177,596	2,673,828	2,851,424
Total					205,148	2,687,533	2,892,681
Net income	expenditure		before funds		60,375	(78,725)	(18,350)
Transfer behNeen funds
Net movement in funds					60,375	78,725	18,350
Total funds	at 1"April 2019				489,922	681,707	1,171,629
Total funds	at 31s March		2020		550,297	602,982	1,153,279