MAYDAY ROOMS (A Company limlted by guarantee, not having a share capital) REPORT OF THE DIRECTORS AND FINANCIAL STATEMENTS for the year ended 30 September 2024 England and Wales Charity No. 1146510 Company Reg. No. 07780658 MAYDAY ROOMS {a company limited by guarantee. not having a share capital) Index Pa Report of the Dir￿torS Report of the Independent Examiner 10 Statement of Financial Activities Balance Sheet 12 Statement of Cash Flows 13 Notes to the Financial Statements 14-19 MAYDAY ROOMS {a company limited by guarantee, not having a share capital} REPORT OF THE DIRECTORS FOR THE YEAR ENDED 30 SEPTEMBER 2024 The Directors of MayDay Rooms have pleasure in presenting their annual report and the unaudited financial statements for the year ended 30 September 2024. In preparing this report the Directors have complied with the Companies Act 2006, the Accounting and Reporting by Charities: Statement of Recommended Practice (SORP FRS102) and applicable accounting standards. Reference and administrative infomlatlon Charty name: MayDay Rooms Charity number.. England and Wales Charity Registration No. 1146510 Company number: 07780658 Registered Office.. 88 Fleet Street, London, EC4Y 1 DH Independent Examiner.. Dickson Middleton, 20 Bamton Street, Stirling, FK8 1 NE Bankers.. The Co-operative Bank plc Directors and Trustees The Directors of the charitable company (the charity) are also its Trustees for the purpose of charity law. The following persons acted as Directors of the charity during the period to 30 September 2024: Alex Sainsbury Dr Patrizia Di Bello Dr Anna Davin John Barker (resigned on 13 September 2024) Clara Brekke (resigned on 2 November 2023) MAYDAY ROOMS la company limited by guarante8, not having a share capital) REPORT OF THE DIRECTORS FOR THE YEAR ENDED 30 SEPTEMBER 2024 (continued) Structure, govemance and management Constitution MayDay Rooms was incorporated and registered as a company limited by guarantee. with no share capital, on 20th September 2011 (company registration number 07780658) and was registered with the Charity Commission on 22nd March 2012 (charity registration number 1146510>. It is govemed by its Articles of Association. In the event the company is wound up, the liability of each member is restricted to £10. Appointment of Directors The management of the charity is the responsibilty of the Directors who are elected and COwOPted under the terms of the Articles of Association. Organisational Structure The charty is governed by the five Directors. Day-to-day management is delegated to staff members. The Directors meet formally as a Board regularly during the year. The staff members update the Directors at these meetings and circulate minutes. Risk management The Directors are currently taking steps to formalise the risk register, covering all aspects of the risk5 to which the charity is exposed. Objectives and activities Objects The objects of MayDay Rooms are to advance education for the benefrt of humanity by making accessible and disseminating archives, documents and practices relating to social and economic history and emancipatory movements. Activltles The above objects are met in the following ways.. identifying 'homeless' archival material and entering into liaison with their holders and donors with a view to accommodating them within the Project creating the circUmstan￿S through which the archival material Can be re-presented, made readily accessible and activated by means of a variety of educational means developing these educational means, which will include workshops. presentatFons, forums, screenings and open debate5, in a spirit of mutual co-learning encouraging. through these educational means, a new and diverse relationship between historical material and the public, and the broadest possible participation at all stages of the process seeking, through these methods and an open-access ethos, to raise historical awareness promoting and encouraging a 'spirit' of research and self-education not only in relation to the materials held by the Project but in the public at large entering into Co-operative relations with other Bodies endeavouring, in liaison with holders and donors. to make the material more widely disseminated by means of digital distribution, small scale exhibitions and occasional publications MAYDAY ROOMS {a company limited by guaranlee, nol having a share capital) REPORT OF THE DIRECTORS FOR THE YEAR ENDED 30 SEPTEMBER 2024 (continued) Going Concem After making appropriate enquiries, the Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Summary This year, we have continued to grow our archive collection and build an active user base, wtth over 500 people ViSFting the archive collection. Our mailing list has grown significantly and now stands at over 8,000 subscribers, and our social media presence has expanded significantly, reaching 9,015 followers on Instagram and 5,911 on Tw￿er. We are continuing our work with the Network of Radical Libraries and Archives {NORLA), we remain a member of the Society for the Study of Labour History- Archives and Resources Committee. We have continued hosting university groups and tours and we hosted three student research placements. We have collaborated with sister archival organisations such as the Working Class Movement Library, Glasgow Women's Library, and Glasgow Zine Library. Alongside this growth, MayDay Rooms has engaged in a variety of archival activities, enhancing both public education and engagement. We have also organised numerous archtval events. including discussions on the histories of radical print cultures, the punk movement, direct actions, a￿h1Val film screenings, intemational feminist histories, and more. We have so far held a total of 37 workshop5 since October 2023 for our pilot youth programme. The project has been delivered collaboratively with diverse organisations and cultural practitioners, collaborating with 15 local heritage organisations and 25 independent practitioners. Workshops have deatt with a range of topics around archtval work and history-making practices. We have addressed some of the barriers young marginalised people face in accessing archives by developing an interdisciplinary programme, holding events at dIffe￿￿t venues across London, subsidising travel costs and providing refreshments. The project has actively increased accessibility to our archive by bringing material outside of our building as well as introducing participants to other free and public educational spaces. Additionally, we've started an Archwing fron7 Below discussion group and an Archwal Working Group, which is based on skill-sharing around archival methods. Archival Accessions Occupied Times The Occupied Times of London was founded during the first week of the protest occupation of land adjacent to St Paul's cathedral in October 2011. The first issue was published on the 24th of October, just nine days after the occupation began, with a print run of 2.000 copies of 12 A4 pages. For the first six weeks the paper was produced weekly out of a tent by a small but dedicated team. The OT quickly settled as an A3, broadsheet-sized newspaper and gradually increased in pages, becoming a monthly publication of around 20 pages after six months. The collection contains 26 issues produced be￿een 2011 and 2015. Multitudes We received 27 issues of the French political, artistic and philosophical magazine multitudes. This transnational French journal relates to politics, art, and philosophy at the intersection be￿een social activism, policy, and theory, Multitudes analyses new forms of mobilization in the age of cognitive capitalism, focusing on digital cultures, intellectual property, guaranteed income, changes in working conditions, the ethics of Care, political ecology, postcolonial theory. MAYDAY ROOMS (a company limited by guarantee, not having a share capital} REPORT OF THE DIRECTORS FOR THE YEAR ENDED 30 SEPTEMBER 2024 (continued) Assoclation of Autonomous Astronauts Variously seen as a Situationist-inspired prank, an extended metaphor, a form of Exodus and a campaign to redistribute supetwealth, the Association of Autonomous Astronauts conducted a five year propaganda mission (1995-2000) to make the experience of space travel an option for a variety of international communities. Our AAA collection has been recently completed with a substantial donation of materials, which includes T-shirts, pamphlets, badges, reports, news clippings and photographs. Class War Our collection related to the Class War Federation has been re￿ntlY supplemented by 116 items, which include issues of Class War newspaper, Class War pamphlets, leaflets, reports and internal documents. Class War was a UK- based anarchist group promoting working class solidarity, anti-marketJether with members of the MayDay Radio collective, ran a series of three skill-sharing workshops centered around researching, interviewing, listening, audio recording and technical support, with a focus on understanding the value and use of oral histories to expand and maintsin archival material. Using materials from the MayDay archives as a starting point, the workshops offered support towards the creation of a new set of experimental oral histories to be hosted on the MayDay radio website. In May 2024, we organised an archival film night assembling together a variety of short documentary films from the 1970s. This event highlighted the often overlooked history of feminist spatial interventions and radical placemaking practices focusing particularly on the squatted formation of women's centers - in the contested urban contexts of NYC and London. The screenings were followed by an open conversation and reflection around the significance and strategies of these actions and histories both then and from today's perspective, particularly in relation to ongoing and current struggles such as the occupations by Sisters UncLrt. In June 2024, we invited Leopoldina Fortunati and Barbara Mahlknecht and into archival materials 4olders, flyers, and pamphlets-to discuss the strategies and challenges faced by militant feminists in organising a movement for domestic labour compensation. We examined how activists overcame isolation and limited resources to demand state-paid wages for housework, while also grappling with the contradictions of advocating for its refusal. Through group discussions and readings, including excerpts from Fortunati's The Arcane of Reproduction, we investigated the signfficance of social reproduction and its impact on contemporary feminist movements. MAYDAY ROOMS la company limited by guarantee, not having a share capital} REPORT OF THE DIRECTORS FOR THE YEAR ENDED 30 SEPTEMBER 2024 (continued) In July 2024, we organised an evening of scanning, cataloguing, and searching through the revolutionary- socialist group, Big Flame. We collaborated with Seth Wheeler who is researching Big Flame for the Working Class Movement Library {WCML), and gave an introduction to the group and their relevance today during the event. In August 2024, we held a workshop at the Glasgow Zine Library where we presented archives of solidarity, collective care and cuttural experimentation in a new context. The aim of the workshop was to explore how these materials can infomi current social movements in Glasgow. We also visited the Glasgow Women's Library and the Spirit of Revolt Collection, and met with the Glasgow Housing Struggles Archive. Also in August, we took part in the Cafe Oto summer fair in east London, showcasing a range of archival material related to experimental music culture, as well as our pamphlets and reproductions of popular posters. ARCHIVAL PROJECTS Youth Programme At this stage of our pilot youth programme 'Un¢overing the Archive,, we have successfully achieved the vast majority of aims set out for this project. We have so far held a total of 37 workshops since Odober 2023. Based on these workshops, we have met our original aim to deliver a free programme enabling participants aged 16-25 to build a creative prO1￿t around archiving that is representative of their histories, perspectives and ideas through collaboration and fun. Our vision was to deliver this project collaboratively with diverse organisations and cultural practitioners, and so far we have collaborated with 15 local heritage organisations and 25 archival practitioners. Workshops have dealt wÉth a range of topics around archival work and history- making practices.. radical British print culture, painting archives, folk music as social history, archiving as a tool for improving mental health, decolonial archiving, do-it-yourself zine making, poetry and Black British activisrn, speculative historical writing, risograph poster-making, archival filmmaking and oral histories. Each event involved an introductory educational element such as a participatory lecture or reading group focusing on a specific archival history or fomiat, followed by a creative exercise with a tangible output so participants can apply this learning. The programme has enabled us to highlight specific collection5 relating to anti-racist. environmental. housing and feminist campaigns in a new context. Workshops were capped to encourage meaningful learning, discussion and collaboration. The safeguarding trained Project Lead was responsible for managing different needs and creating an environment that is safe and supportive for participants. For long-fomi workshops spread over multiple sessions, participants were encouraged to lead on shaping the session according to their interests. MayDay Rooms regularly undertakes reviews of our holdings to identfy collections that are underrepresented or absent. As a repository for the histories of marginalised people, we have a responsibilty to ensure the archive is Constantty being expanded to represent the diversity of Culture in Britain, especially as young people play a significant role in advocating for these communities through grassroots activism, visual arts and self-published writing. We hope to build on the successes of this prqect by continuing a permanent strand of youth programming on a month to bi-monthly basis. Prior to our pilot youth programme, youth engagement with the archive was low despite our collections representing a number of youth-led movements. This has since changed significantly, with people under 25 contribuiing to at least 40Yo of regular archive users. Youth participation has further enabled us to highlight specific collections relating to anti-racist, environmental, housing and feminist campaigns in a new contexi. MAYDAY ROOMS la company limited by guarantee, not having a share capitsl) REPORT OF THE DIRECTORS FOR THE YEAR ENDED 30 SEPTEMBER 2024 (continued) For Peacel In October 2023, we launched our For Peacel Archive project, funded by the Joseph Rowntree Charitable Twst. The projects collect materials and stories from live and historical campaigns working for peace, to create an open-access archive showing a wide range of campaigns and movements. Since the start of the project we have collected or digitised existing materials from the following movements.. Greenham Common. Trident Ploughshares, CND, conscientious objectors from and WWII, the Troops Out Movement, anti-vietnam War activities, the ongoing war in Ukraine, Palestine solidarity, Peace News, anti-NATO campaigns across the decades. This archive now numbers close to 3000 digital Étems and will form the core of the various physical exhibitions and the online exhibition due to launch in spring of 2025. In November 2023, we held an open Scanathon of the Greenham Common materials. This was well-attended and resulted in the digitisation of the bulk of our existing Greenham holdings. In February 2024. we tfX¢k in a large collection of the newspaper, Peace News. The collection spans from 1960 to 2001 and is cuffently being catalogued. We also took in a number of pamphlets from Kate Sharpley Library as well as a large number of their digital holdings. We took in personal artefacts from the peace campaigner Lesley Bacon, which include a Ple￿ of fence from RAF Lakenheath. In June 2024, we successfully recruited a six-month paid TechnelCHASE placement. The PhD student started in June and has been digitising, archiving and researching material for the 'For Peacel, collection and exhibitions. A number of other volunteers continue to support the project. In August 2024, we conducted a research trip in Glasgow visiting the Glasgow Women's Library , and met with the Glasgow Housing Struggles Archive. At the Spirlt of Revott, we helped digrtise issues of the 'Faslane Focus, magazine and bulletin. We carried out research into materials relating to the peace and anti-militsrist movements at the Glasgow Women's Library. We also met with Demilitarise Education (DED) with a view to taking in digital items as well as partnering with them for the public events alongside our exhibitions. We took in folders of digital materials as well as boxes of materials from veteran peace activist Angle Zelter. mostly relating to the 'Trident Thr￿, actions and legal case from 1999. Archiving from Below Since its inception, MayDay Rooms has been buim on the principle of archiving from below, challenging the conventional institutional methijds of gathering, shaping, and disseminating the history of struggles. In February 2024, we launched a reading and discussion group to address the practices of archiving from below and strategies of activating the histories of resistance. The group is open to archivists, researchers, historians involved in both past and present organising, and anyone interested in radical archives. Our aim has been to share our own approach, learn from each othef, and collaboratively develop counter-archival practices that extend beyond mere critique. Gentriflcation and Climate Change Project Archive Worklng Group In September 2024, we launched our Archive Working Group, a regular working group centred around the archive. Ongoing and running on a monthly basis. the group is focused on processing and making the MDR collections accessible. The group is learning about the cataloguing and digitisation process and is largely self-guided in choosing which collections to work on. MAYDAY ROOMS {a company limited by guarantee, not having a share capital) REPORT OF THE DIRECTORS FOR THE YEAR ENDED 30 SEPTEMBER 2024 (continued) Space X This year, MayDay Rooms has remained actively involved in the Spatial Practices in Art and Architecture for Empathetic Exchange (SPACEX) initiative. SPACEX is a transdisciplinary research action that fosters collaborations be￿een academic institutions and third-sector organisations through secondments. Within this project, we are focused on the archive stream which explores various methods for activating and accessing digital archives, as well as documenting grassroots movements. We have partially completed our third secondment in May 2024 at The Academy of Fine Arts (AVU) in Prague, with the remainder scheduled for completion in 2025. Podcasting Studio In the last financial year, we re￿iVed funding from the Lipman-miliband Foundation to build a sound recording studio within the MayDay Rooms archive. This facilty was designed to support activists and researchers by providing free resources for podcast and radio show production. The studio was built over the course of 2023-2024 and launched in September 2024. Funding MayDay Rooms is still engaged in a number of large funds initiated in the last financial year, most notable., the Uncovering the Archive.. YoLrth Archival Programme funded by Arts Council England and For Peacel Archive and Exhibition funded by Joseph Rowntree Charitable Trust. We have continued to be involved in the SPACEX initiative, focusing on archival research and documenting grassroots movements. We are continuing to deliver on a project grant funded by Arts Council England last year to run our pilot youth program 'Uncovering the Archive,. We have extended the project until the end February 2025 to delNer a final residency on oral history making with the Student Movement {2010-12) collection. Following this residency we will receive the final installment on completion of the final report. The totsl grant award is £38,744. Research placements In April we undertook a year-long placement with LAHP funded PhD candidate Vera lon from the Royal Central School of Speech and Drama. Vera's research will use the archive to examine the intersections be￿een 'low skilled, labour, cultures of organising and diasporic communities of temporary care workers moving be￿een Romania, Bulgaria and the UK. It sets in dialogue the ways in which communrties engaged in care work from A2 countries pre and following UK'S exit from the European Union, deploy and practice modes of organising infomed by socialist, post-socialist and migrant polrtics and shape new imaginaries for transnational labour and cultural exchange. MAYDAY ROOMS la company limited by guarantee, not having a share capital) REPORT OF THE DIRECTORS FOR THE YEAR ENDED 30 SEPTEMBER 2024 (continued) Directors, responsibilities in relation to the financial statements The Directors (who are also Trustees of MayDay Rooms for the purposes of charity law) are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and Unrted Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Directors to prepare financial statements for each financial year, which 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 the income and expenditure, of the charitable company for that period. In preparing these financial ststements, the Directors are required to: select suitable accounting policies and then apply them consistentty- obseNe the method5 and principles in the Charities SORP- make judgements and estimates that are reasonable and prudent., state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements- prepare the financial statement5 on the going concern basis unless it is inappropfiate to presume that the charity will continue in operation. The Directors are responsible for keeping adequate accounting records that 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 ￿sOnable steps for the prevention and detection of fraud and other irregularities. This report has b￿n prepared in accordance with the special provisions for small companies under part 15 of the Companies Act 2006. By order of the Board Alex Salnsbury Trustee Patrizia Di Bello Trustee 18 July 2025 MAYDAY ROOMS (a company limited by guarantee, not having a share capital) INDEPENDENT EXAMINERS REPORT TO THE DIRECTORS OF MAYDAY ROOMS I report to the charity directors on my examination of the accounts of the company for the year ended 30th September 2024 which are set out on pages 11 to 19. Responslbilities and basis of report As the directors of the company (who are also its trustees for the purposes of charity law) 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 the company 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 company's accounts as carried out under section 145 of the Charities Act 2011 {'the 2011 Act'l. In cafrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examinerfs statement I have completed my examination. I confirm that no matters have come to my attention in connedion with the examination giving me cause to believe that in any material respect= accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or the accounts did not accord with those records., or 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 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). I have no concerns and have come across no other matters in connection 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. r LLI Willlam J Russell C.A. Dickson Middleton Chartered Accountants 20 Barnton Street Stirling FK8 1NE 31 July 2025 10 MAYDAY ROOMS (a company limited by guarantee, not having a share capital) STATEMENT of FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2024 Note 2024 2023 Unrestricted Restricted Funds Funds Totsl Funds Total Funds INCOME Grants Receivable 50,000 45,602 95,602 79,831 Investment Income 2,422 2,422 805 Donations 417 10,000 10,417 40.093 Charitable activities 21,180 74,019 21,180 55,602 129,621 34,590 155,319 Total Income EXPENDITURE Charitable activities 60,886 69,344 130,230 116,441 Governance costs 4,443 4,443 5,561 Total Expenditure 65,329 69.344 134,673 122,002 Net income l (expenditure 8,690 {13,742) (5,052) 33,317 Transfers between funds Net movements In Funds 8,690 (13,742) (5,052) 33,317 Total funds brought forward 136.263 22,737 159.000 125,683 Total funds carrfed forward 12 144,953 8.995 153,948 159,000 The figures shown above relate to continuing activities. The notes on pages 14 to 19 ft)mi part of these financial statements. 11 MAYDAY ROOMS la company limited by guarantee, not having a share capital} BALANCE SHEET 30 SEPTEMBER 2024 Note 2024 2023 TANGIBLE FIXED ASSETS 3,772 4,481 CURRENT ASSETS Debtors Cash at bank and in hand 20,551 132,647 153,198 3,808 158,369 162,177 CURRENT LIABILITIES - Creditors= amounts falling due within one year NET CURRENT ASSETS 10 3,022 7,658 150,176 154,519 NET ASSETS 153,948 159,000 The funds of the charity: Restricted funds Unrestricted Funds 12 12 8,995 144,953 22,737 136,263 Total charity funds 153,948 159,000 Audit Exemption Statement For the year ending 30th September 2024 the company was entitled to exemption from audit under Section 477 of the Companies Ad 2006 relating to small companies. In approving these financial statements as directors of the company we hereby confirm.. that the members have not required the company to obtain an audrt of its accounts for the year ending 30th September 2024 in accordance wtth seclion 476; and that we acknowledge our responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts are prepared in accordance with the special provisions of Part 15 of the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company. Approved by the Board of Directors on 18 July 2025 and signed on its behaff by Director Director Alex Sainsbury Patrizia Di Bello Company Registration Number: 07780658 The notes on pages 14 to 19 form part of these financial statements. 12 MAYDAY ROOMS {a company limited by guarantee, not having a share capital) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 SEPTEMBER 2024 2024 2023 Net movement In funds (5,052) 33,317 Adjustments for: Depreciation charges Interest income shown in investing activities (Increase) I decrease in debtors Increase / (decrease) in creditors 708 (2,422) (16,742) (4,636) 881 (805) 1,104 (1,306} Cash flows fmm operating activities 28,144 33,191 Cash flows from investing activities Interest income 2,422 805 Net cash used in investing activities 2,422 805 {Decrease) l increase in cash and cash equivalents in year (25,7721 33,996 Cash and cash equivalents at beginning of the year 158,369 124,373 Cash and cash equivalents at end of the year 132,647 158,369 The notes on pages 14 to 19 form part of these financial statements 13 MAYDAY ROOMS la company limited by guaranlee, not having a share capital) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Accounting Policies Basis of preparation The financial statements have been prepared under the historic cost convention and in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS102), the Charities SORP (FRS1021 and the Companies Act 2006. A summary of the more important accounting policies, which have been applied consistently, is set out below. MayDay Rooms meets the definition of a public benefit entity under FRS102. P￿paratIon of the accounts on a going concem basis MayDay Rooms reported a deficit for the year amounting to £5,052 but has been able to fully meet its financial obligations as they fall due. The principal source of funding continues to be grants and rent free accommodation from the Glass-Hou5e Trust. The rent-free lease has been extended until August 2033 and it is anticipated that grant funding will continue at current levels until then. On this basis the directors are of the view that the charity is a going concern and the financial statements have been prepared on this basis. Fund stNctu Unrestricted funds comprise accumulated surpluses or deficits on general funds and they are available for use at the discretion of the Directors in furtherance of the general objectives of the charity. Restricted funds are created when donations are received for a particular purpose, the use of which 15 restricted to that a￿a or purpose. Incoming resources All incoming resources are recognised when the charity has entitlement to the resources, Èt is probable that the resources will be received and the monetary value of the incoming resources can be measured with sufficient reliabilrty. Voluntary donations are accounted for when receivable. Investment income is recognised on an accruals basis. Resources expended Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is recognised on an accruals basis and has been classified under headings that aggregate all the costs related to the category. Overhead and support costs have been allocated be￿een charitable activity and governance. The costs of charttable activities include an apportionment of overhead and support costs. Governance costs comprise costs involving the public accountability of the charity and its compliance with regulation and good practice, these costs include costs related to the independent examination together with an apportionment of overhead and support costs. Tangible fixed assets The cost of tangible fixed assets is their purchase cost. Depreciation is provided on tangible fixed assets to write off the cost. less the estimated residual value, of each asset over its expected useful life as below. Computer equipment Furniture and fixtures Kitchen equipment 250h reducing balance 100A reducing balance 20 % reducing balance 14 MAYDAY ROOMS {a company limited by guarantee, not having a share capital) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 (continued) Accounting Policies (continued) Operating leases Commitments under operdting leases are charged to the ststement of financial activities in the period in which the rentals are payable. The charty operates from premises owned by the Glass-House Trust for which no monetary rent is payable. In accordance with the Charities SORP (FRS102J the directors have established the fair value of the rent that would be payable for similar premises in the location and details are provided at note 13. As there is a formal lease in place confirming that no rent is payable the Trustees consider that no disclosures in the Statement of Financial Activities are required. Taxation The charty is recognised as a charity for taxation purposes. As such, the charity is exempt from tax on income and gains to the extent that these are applied to charitable objectives. No tax charges have arisen in the charity. The charity is not registered for Value Added Tax (VAT). Expenditure includes any attributable VAT. Debtors Debtors are recognised at the settlement amount due. P￿PaYmentS are valued at the amount prepaid net of any discounts due. Cash at bank and in hand Cash at bank and in hand includes cash and short term highly liquid investments with a maturity of elve months or less from the date of acquisition or opening of the deposit or similar account. Creditor3 Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are nomially recognised at their settlement amount after allowing for any discounts due. Financial instniments The charty only has financial instruments of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently re-measured at their settlement value. Incoming Resources from Generated Funds Income includes grants that were received and applied during the year, subject to the accounting policies detailed in Note 1 above. 2024 2023 GRANTS RECEIVABLE Glass-House Trust Joseph Rowntree Charitable Trust Other Grants 50,000 22,035 23,567 50,000 7,253 22,578 INVESTMENT INCOME - Bank Interest 2,422 805 DONATIONS 10,417 40,093 CHARITABLE ACTIVITIES Room hire etc Subscriptions from Friends of MayDay Rooms Employment Allowance ContribLrtion to Repairs from Landlord Other Income. 9,605 4,909 2,435 11,959 6,115 4,697 5,761 6,058 4,231 129,621 155,319 15 MAYDAY ROOMS {a company limited by guaranteè, not having a share capital) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 (continued Surplus for the year The surplus for the year is stated after charging - 2024 2023 Board of Directors and Members costs Operating Lease Rentals Independent Examiner's fees 1,680 1,690 Charltable Activities 2024 Total 2023 Total Stsff Costs Administration Costs Travel Costs Rates Heat & Light Repairs & Maintenance Insurance Consultancy fees I publications Other Costs Depreciation 75,016 6,580 1,477 3,090 5,294 11,939 831 1,254 24,042 708 130.230 65,405 5,734 2,867 5,495 4,840 18,556 677 7,042 4,944 881 116,441 Governance Costs 2024 Total 2023 Total Independent Examiner's Fee Book-keeping Services 1,680 2,763 1,560 3,871 4.443 5,561 Employees 2024 Total 2023 Total Salaries and wages Social security costs Pension costs Other costs 71,069 2,596 1,350 59,484 4,697 1,244 75.016 65,405 At 30 September 2024 there were 5 employees (2023 - 5). No employee received emoluments of more than £60,000. A defined contribution pension scheme is available to all staff. 16 MAYDAY ROOMS la company limiled by guarantee, not having a share capital) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 (continued) Directors and Related Party Transactions None of the directors received any remuneration or reimbursement of expenses during the period. During the year the charity received an operating grant of £50,000 (2023 - £50,000) from the Glass- House Trust, of which Alex Sainsbury is also a trustee. Furthermore, the charity occupies premises at 88 Fleet Street, London provided by the Glass-House Trust under a 10 year lease for a peppercorn rent. See note 13 for further information. Flxed Assets Computer Flxtures & Equlpment Fittings Kitchen Equipment Total Cost: At 1 October 2023 Additions during the year Disposals during year At 30 September 2024 21,901 8,076 2,286 32,263 21,901 8.076 2,286 32,263 Accumulatsd depreciation: At 1 October 2023 Provided during the year Disposa15 during year At 30 September 2024 20,334 392 5.412 266 2,036 50 27,782 708 20,726 5,679 2,086 28,491 Net book value 30 September 2024 30 September 2023 1.175 2,397 200 3.772 1,567 2,664 250 4.481 Debtors: Amounts falling due within one year 2024 2023 Trade debtors Prepayments Other debtors 196 15,405 900 2,908 20,551 3,808 10. Creditors: Amounts falling due within one year 2024 2023 Trade creditors Accruals and deferred income 2,449 5,209 7,658 3,022 3,022 17 MAYDAY ROOMS la company limited by guarantee, not having a sharè capital) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 20241contlnued) 11. Funds Analysis of MayDay Rooms at 30 September 2024 2024 Funds 2023 Funds Restricted Unrestrlcted Fixed assets 3,772 3,772 4,481 Current assets Debtors Cash at bank and in hand 20,551 113652 134,203 20,551 132,647 153,198 3,022 150,176 3,808 158,369 162,177 7,658 154,519 18,995 18,995 Current liabilities Net current assets 18,995 131,181 Net AssetslFunds 18,995 134,953 153,948 159,000 12. Movements in funds At1 October 2023 At30 September 2024 Income Expendlture Transfers Restricted funds Lush A Sainsbury- Payroll Uncovering the Archive City of London Sound recording studio fund Joseph Rowntree Charitable Trust Spa￿x project Projector fund 5,000 10,000 15,498 3,C69 (4.361) (10,000) {27,744> (3,069) {2,935) 639 15,896 3,650 3,000 65 22,035 (21,236) 799 3,350 491 8,995 3,350 491 22,737 55,602 69,345 Lush - to run a project on Gentrification and Climate Change. Uncovering the Archive archive materials. a participation project for young people for accessing and creating Sound recording studio lund - to establish a sound recording studio to support archivists and researchers. Joseph Rowntree Charitable Trust to fund the collation and digital storage of protest video material. Spacex project- to fund secondments to map European spatial practtces. Projector fund - funding sought to replace a stolen projector and associated equipment. City of London - To increase the accessibility of the building for wheelchair users and for people with other mobilty issues. 18 MAYDAY ROOMS (a company limited by guarantee, not having a share capital) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 (continued) Unrestricted funds Atl October Income Expenditure Transfers 2023 At30 September 2024 General funds 136,263 74,019 (65,329) 144,953 The general funds represent the free resources available to the charity. 13. Obligations under operating leases On 27 August 2013 the Charty entered into a 20 year lease at a peppercorn rental to occupy rooms within property at 88 FI￿1 Street, London. No monetary settlement applies to this lease. The estimated rent for similar property in the area is £259,000 (2023 - £259,000). 19