Charity Registration No. 1154301 Company Registration No. 8584273 (England and Wales) PECKHAM PLATFORM LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 PECKHAM PLATFORM LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustees Phil Allison Hannah Clayden Tobi Kyeremateng Harold Offeh Pèju Oshin (Chairperson) Helen Tovey Slav Sikora-sikorski Kirsty Slober Daniel Castro Do Nascimento (Appointed 28 July 20201 (Appointed 29 July 20201 (Appointed 29 September 2020) Secretary Vacant Charity number 1154301 Company number 8584273 Principal address Studio B4Q Bussey Building Copeland Pad(, 133 Copeland Road Peckham London SE15 3SN Registered office Studio B4Q Bussey Building Copeland Park, 133 Copeland Road Peckham London SE15 3SN Independent examinor Wamer Wilde Limited 4 Marigold Driv8 Bisley Woking Surrey GU24 9SF PECKHAM PLATFORM LIMITED CONTENTS Page Chaimian's statement Trust8es' report Independent examiner's report ststement of financial activities 10 Balance sheet 11 Notes to the financial slalements 11-26 PECKHAM PLATFORM LIMITED CHAIR'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2021 Peckham Platform's fourth year off-site has been marked by resilience. focus, ambition. and commitment. During an unprecedented year, and under pandemic restrictions, we have continued to deliver rneaningful, locallyombedded and nationally significant projects that we are known for- whilst also developing our team and organisational capacity towards our future capital plans oll Peckham Square. At a lime of crisis, our staff, supporters and funders have adapted to a new sel of demands and challenges - taking swift action lo keep employees safe and facilitate home worf via City Bridge Trust. At the ¢enlre of this initiative is the ambition lo establish a greater knowledge and understanding of community-led cultural activity and to 'ts"It the mirror. on negative perceptions of Peckham. The programme evolved lo respond lo the challenges presented by the pandemic. During the period of spring and early sumrner 2020, we paused in person events and refocused on a gentler programme of activities to support our core communities and staff team. In response to ¢oncems around accessibility, we ensured participants had the technology and malerials required for online workshops.. packaging art materials and sharing them in advance.. topping up participants, data, gifting Morrisons food vouchers and covering the ¢ost of twice weekly Thleals on Wheels for the period of 3 months to elders as well as pre-packed shopping with supplies from the Peckham Pantry. This additional support was provided by emergency funding from the LCRF Adapt funil, and allowed us lo bring the programrne online via zoom. Over the winter months, 10 weekly sessions were facililal8d by artist Beverley Bennett. During spring 2021, we ran workshops based on memory and sound with artist A.G. The DJ, fabric and craft sessions with Enam Gbewonyo, and collaging with Birungi Kawooya. These workshop5 kept us in contact wth each other during very difficult times. As we move into the second major commission with design by collective Resolvo, we share the first year outcomes in a presentation The Palms of Peckham. Our first public presentslion sin￿ 2019. The Palms of Peckham is a new Afrocentric retail space. in the heart of Peckham. Thi5 covered mart(etplace is home lo several independent srnall businesses, primarily led by Black women. They exist to incubate and support business members and create new opportunities in the local community. Social Art Research Peckham Plattomi's recently departed Founding Artistic Director, Emily Druiff is retaining a close ￿atiOnShiP with the organis81ion lo fulfil established partnerships including.. with Judith King at Newcastle University for 'Mapping Contemporary Art in the Heritage Experien¢e': with Goldsmith's Sociology Department for the emerging 'Race Critical Research Centre IRCRC) and with Brett St Louis and Kaly Beinart at Brighton University and Sophie Hope at Birkbeck University of London with whom a sha￿d AHRC application is being progressed for the development of a 'Social Art R8source'. These partnerships play a major role in fulfilling Peckham Piaffonr's primary aim of 'excellence in commissioning and researching social art,. PECKHAM PLATFORM LIMITED TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2021 Learning Youth Platfomi Our youth programme Youth Plattorm engaged young people aged be￿een 16-22 years of age and particularly supported those who are underrep￿sented in the arts to realize their creative ambitions. Peckham Platform's Youth Platform was awarded fundlng from Paul Hamlyn Foundation and the Portal Trust to continue our work during the Covid-19 pandemic, ensuring young people who were particularly affected by the crisis were offered support. Members have received rnore than 25 hours of personalised mentorTng, skills and professional development as well as social and wellbeing support to help with portfolio development. They also received advi￿ and connections towards entry points into the creative industries. As a resulL our cohort of young people has progressed to 8 paid work opportunities and 2 people have been accepted to further education. The Youth Plafform led their own social arts project, working with emerging artist Meera Shakti Osbome and Cultural ProdU￿r A.G lo create new artwork focusing on Self-Ca￿ and wellbeing. They created a new sound work which was broadcasted on Reprezent Radio with an estimated reach of over 65,000 listeners. Art Awards The Arts Awards focused on developing the inleresls, knowledge and skills of the parbcipaling students through their active participation in arts. reviewing their experience, and researching the career and work of an a￿"st or craftsperson that inspires them. Through a total of 95 hours of leaming time they developed and created their own digital portfolios and used audio. video, writing and photography lo develop their planning and communication ski'lls. The offer of the Arts Awards was highly appreciated by the participating school, which is a complex special needs secondary school in Camben￿e11. Stsff reported that the project significanlly supported their own and the students, well-being and mental health during a liwe of uncertainty. In lolal Peckham Plafform delivered 23 session5 which were mostly delivered online via Zoom. We are proud of the students who participated and are pleased to report that 9 of the group successfully received an Explore level Arts Award and 7 received a Bronze level Arts Awards. Communications The past year has seen u5 Continue to work off site in a vari&ty of different contexts, by experimenting with new approaches and creating new partnerships we have achieved some excellent cornmunications outcomes. Our social media presence continues to be strong and engages with relevant audiences, with a lolal of 68,352 social followers and SLJbscribers. We have estsblished productive partnerships with other cultural organisalions on our social media campaigns gaining access to new audIen￿S and mutually supwrting each other's work. Extensive work has been undertaken to develop Peckham Plaffom's new brand identity with the aim lo align to our communications with our core audien￿$ and beneficiaries. This has been made possible by the generous support in kind by Culture Shock Media. The new brand design will be launched with a new ac￿sSible website Sn 2021. PECKHAM PLATFORM LIMITED TRUSTEES. REPORT {CONTINUED){INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2021 Flnanclal revlew Peckham Platform's finances are robust and has been manage effectively by the team. Incoming resources for the year decreased by 20A from £355,999 in 2020 to £347.643 in 2021. Expenditure increased by 2Yo, from £242.212 in 2020 to £244.593 in 2021. The resetves are represented by current assets of fixed assets £50,687, bank balances £211,418 plus debtors £19.279 less creditors £13,219. Other debtors comprises accrued income. where the cofidllions for re￿Ipl of a grant had been met but it was received shortly after the year end. It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to bebNeen th￿e and six fnonlh's operating expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they wll be able lo continue the cha￿ty,$ current activities while consideration is given to ways in which additional funds may be raised. This is the level of reserves, whicè) the Trustees will woTrl( towards achieving in future periods. Plans for the future In 2023 we will launch our new home on Peckham Square, working in partnership with London Borough of Soulhwark ILBSI who have committed major initial inve51menl lo our plans. Our new gallery will be al the heart of an ambitious vision for Peckham Platform which will see expanded a¢ty'vilies, audiences and participation opportunities-, increasing our ability lo ¢reat2 Iransfomialional artistic opportunities for communities facing the greatest need in Peckham and beyond. The redeveloped gallery will welcome all communities to a permanent and resilient home for our ground-breaking work, building on 10 years at the forefront of social art. We are working lo secure funds to match LBS'S commitment 50 that we can create a new Peckham Plafform that meets our future ambitions for the benefit of all our audiences. W8 have appointed a creative and community focused architectural firm to develop the design plans as well as a company to deliver the project management of the capital project. In light of the pandemic related delay to Work on Peckham Square, we will place further emphasis on a Public Commissionino programme, engaging artists who represent the communities we serve. We will continue to focus on partnerships fostering new ones and deepening those we have al￿adY established. We will also Continue to find ways to reach and work with different audien￿$. A strong partnership with LBS is vital to our long-term future on Pe¢kham Square, and to that end we have negotiated a 25-year lease. We are committed to ensuring that a changing PeGkhaTn is responsive lo all of its communities and will work to highlight the voices of those that can be marginalised within the framework of regeneration. Our co- commissioning model will continue to be essential for the developrnenl of meaningful artistic responses from our communities. In the coming year, we will continue to wod( with local groups and arts organisations and deliver strategic commissions. We have successfully secured mulli-year funding for our interyenerational programme 'Tilling the Mirror, via Create Civic Change and the Local Trust. Alongside funding from Esmée Fairbaim Foundation to deliver our programme, we have received multi-year funding for our Youth Plarform work from Portal Trust,. the next year will see us develop and deepen this worf( as we move towards our new home on Peckham Square. We will also continue to strengthen our research and thinking towards the formation of our Social Arts Resource and Social Arts Network. PECKHAM PLATFORM LIMITED TRUSTEES. REPORT (CONTINUED){INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2021 Structure, governance and management The charity Is 2 company Ilmited by guarantee. The trustees. who are also the directors for the purpose of company law. and who served during the year and up lo the dale of signature of the financial slalemenls were.. Phil Allison Clare Walker Richard Watts Graeme Hall Hannah Clayden Tobi Kyeremateng Harold Offeh Pèju Oshin (Chairperson) Helen Tovey Slav Sikora-sikorski Kirsty Stober Daniel Castro Do Nascimento (Resigned 7 May 20201 (Resigned 7 May 20201 (Resigned 28 July 20201 (Appointed 28 July 20201 (Appointed 29 July 20201 (Appointed 29 September 20201 Board induction and dèvelopment We welcomed new Trustees this year and are tsking steps to have a board that represents the communities which we serve. Currently, all of our Trustees a￿ under the age of 49, with 37°/o aged between 20_34. 38QA identify as Black African and 62Y¢ as While British. We are taking continued slaps towards fully embodying our diversity and inclusion ambitions throughout the organizalion from governance and finan￿ lo our programming and leaming offer. Our Board indLJCtion includes.. a. A one-lo-one meeting with the Directors to share our vision, mission and business plans b. A one-lo-one meeting with the Chair lo identify areas of particular interest, personal development goals and knowledge and experience that will be particularly valuable lo Peckham Platform c. A one-lo-one meeting wlth the Chair and the Directors to explore relationships and contacts and how they might be introdu￿d to the work of Peckhan) Plafform over time. d. The Charity Commission guidelines on being a Iruslee and training e. Full tirnetable of board, subcommittee and events. f. A copy of our Trustee code of conduct and conflicts of interest policy g. A copy of the Peckham Platform Memorandum and Articles including our Charitable objects. h. Safeguarding, Equality and Inclusion policy, Anli-racism pledge and resources Financia5 challenges are a central consideration in running a new charity. Reflecting this. we have sub- committees of the board which include.. a. Finance and General Purposes Subcommittee b. Fundraising Subcommittee Icapital and Fundraising Subcommittee from 20181 Marketing and Communications Subcornmittee (created 20181 d. Artistic Subcommittee (created 20181 The board also mobilises working groups appropriate support lo the team on particular issues. This year these have included groups to worf( on business plan and co-design development. PECKHAM PLATFORM LIMITED TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT> FOR THE YEAR ENDED 31 MARCH 2021 Management The Charity's day-to-day management Was delegated to the Artistic Director Emily Druiff who had been in post since 2007 and the Executive Dirttctor, Karin Kihlberg, who has been in post since January 2020. In November 2020 a SUC￿$S1on plan was activated for the introdu¢tion of incoming Arbstic Director Nephertiti Oboshie Schandorf- she was formally appointed as Artistic Director in March 2021. Emily Druiff ¢orFtinues lo support the organisalion in an advisory role and as an independent consultant. On behalf of the board of trustees Pejuloshin (Chairper50n> Chairperson Dated.. ..Ai.... J.2, fr-Ll PECKHAM PLATFORM LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PECKHAM PLATFORM LIMITED I rep(irt to the trustees on my examination of the financial statements of Peckham Platfomi Limited Ithe charilyl for the year anded 31 March 2021. Rgsponslbilities and basis of report As the Iruslees of the charity land also its d1￿CtorS for the purposes of company lawl you are responsibl& for the preparation of the financial statements in accordan￿ with the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied myself that the financial stalemenls of the charity are not required to be audited under Part 18 of the 2006 Act and are eligible for independent examination, I report in respect of My examination of the charity's financial statements carried out under section 145 of the Charilies Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under se¢lion 14515llbl of the 2011 Act. Independent examiner's ststement Sincg the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in se¢lion 145 of the 2011 Act. I confirm that l am qualified lo undertake the examination because l am 8 member Df the Assooation of Chartered Certified Accountants, which is one of the listed bodies. I have completed my examination. I confimi that no matters have eome to my attention in ¢onneclion wlh the examination giving me cause to believe that in any materlal respect.. accounting rewrds were not kept in respect of the charity as required by section 386 of the 2006 Act.. or the financial statements do not accord wlh those records., or the financial slalemenls do not comply with the accounting requirements of section 396 of the 2006 A other than any requirement that the accounts give a true and fair view which is not a matter consid8r&d as part of an independent examination; or the financial statements have not been prepared in accordance with the methods and principle5 of the Statement of Recommended Practice for accounting and reporting by charities applicable lo charities preparing their accounts in accordance with the Financlal Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021. I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to &nable a proper understanding of the financial ststements lo be reached. F J Wilde FCCA DChA Wamer Wilde 4 Marigold Drive Bisley Woking Surr8y GU24 9SF Datsd.. ## **PECKHAM PLATFORM LIMITED** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 MARCH 2021**_ |**Unrestricted**
**Restricted**
**funds**
**funds**
**2021**
**2021**
**Notes**
**£**
**£**
**Income from:**
Donations
**3**
45,660
18,590
Charitable activities
**4**
101,960
181,408
Investments
**5**
25
-
**Total income**
147,645
199,998
**Expenditure on:**
Raising funds
**6**
4,483
3,453
Charitable activities
Gallery and Exhibitions
**7**
133,352
77,467
Education Programme
**7**
-
25,838
**Total charitable expenditure**
133,352
103,305
**Total resources**
**expended**
137,835
106,758
**Net incoming**
**resources before**
**transfers**
9,810
93,240
Gross transfers
between funds
(360)
360
**Net income for the year/**
**Net movement in funds**
9,450
93,600
Fund balances at 1
April 2020
68,830
96,285
**Fund balances at 31**
**March 2021**
78,280
189,885|**Total**Unrestricted
Restricted
funds
funds
**2021**
2020
2020
**£**
**£**
**£**
64,250
86,907
7,510
283,368
115,000
146,524
25
58
-
347,643
201,965
154,034
7,936
5,625
22,727
210,819
154,838
32,586
25,838
-
26,436
236,657
154,838
59,022
244,593
160,463
81,749
103,050
41,502
72,285
-
-
-
103,050
41,502
72,285
165,115
27,327
24,000
268,165
68,829
96,285|Total
2020
**£**
94,417
261,524
58
355,999
28,352
187,424
26,436
213,860
242,212
113,787
-
113,787
51,327
165,114| |---|---|---| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. - 10 - PECKHAM PLATFORM LIMITED BALANCE SHEET ASAT31 MARCH 2021 2021 2020 Notes Fixed assets Tangible assets Currgnt assets Debtors Cash at bank and in hand 12 50,687 48,087 13 19,279 211,418 689 124,620 230,697 125,309 Credltors: amounts falling due within one year 14 113,2191 {8.2821 Net current assets 217,478 117,027 Total assets less current liabilities 268,165 165,114 Income funds Restricted funds Unrestricted funds- general 16 189,885 78,280 96,285 68,829 268,165 165,114 The company is entitled to the exemption from the audit requirement contsined in section 477 of the Companies Act 2006. for the year ended 31 March 2021. The Iruslees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the stale of affair5 of the company as at the end of the finaneial year and of its incoming resources and application of resources, including ils income and expendilure, for Ihe financial year in accordance with the reqU1￿MentS of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable lo the Company. The members have not required the company to obtain an audit of its financial slatemenls for the year in question in accordance with section 476. These financial ststements have been prepared in accordance with the provisions applicable to comp8nies subject lo the small companies regime. The financial statements were approved by the Trustees on Pèju O Trustee hin IChairper50nl Slav Sikora-sikorski Trustee Company Registration No. 8584273 PECKHAM PLATFORM LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Accounting policies Charity information Peckham Plattorrn Limited is a private company limited by guaranteè incorporated in England and Wales. The registered office is Studio B4Q Bussey Building, Copeland Park. 133 Copeland Road, Peckham, London. SE15 3SN. 1.1 Accounting convention The financial ststernenls have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities.. Slalement of R$¢ommended Practice applicable to charities preparing their accounts in accordance with the Financi81 Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {effective 1 January 20191" The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bu15etin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional cU￿encY of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financtal ststements have been prepared under the historical cost convention. The principal accounting policies adopted are sel out below. 12 Going concern At the tifne of approving the financial ststements. the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existen￿ for the foreseeable future. Thus the Iruslees continue to adopt the going concem basis of accounting in preparing the financial ststements. 1.3 Charitable funds Unrestricted funds are availabSe for use at the discretion of the Iruslees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the ￿Stricted funds are sel out in th8 notes to the financial ststemenls. Endowment funds are subject to specific conditions by donors that the Capital musl be maintained by the charity. 1.4 Incomlng resource$ Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts Can be rlleasured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless perfoTmance conditions require deferral of the amount. Income tax recoverable in relation lo donations received under Gift Aid or deeds of covenant is ￿COgnised at the lime of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an irnpending distribution, the amount is known. and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. Turnover is measured al the fair value of the consideration received or receivable and represents amounts re￿1vable for goods and setvices provided in the normal course of business, net of discounts. 12- PECKHAM PLATFORM LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Accounting policies {Continu$dl 1.5 Resources expended Basic financial liabilities, including creditors and bank loans ar8 initially recognised at transaction price unless the arrangement constilules a financing Iransaclion, where the debt instrument is measured at the present valLJe of the future payments discoun18d al a rnarket rate of interest. Financial liabilities classified as payable wllhin one year are not arnortised. Debt instruments are subsequenlty carried at amortised cost. using the eff¢clive interest rale method. Trade creditors are obligations lo pay for goods or setvices that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within on& year or less. If not. they are presented as non-currenl liabilities. Trade creditors are recognised initially al transaction price and subsequently measured al amortised cost using the effective interest method. Overheads a￿ apportioned to activities on a reasonable basis for example, hours engaged in different acliwts.es for staff costs or floor area for premises costs. Irrecoverable VAT is allocated in the same way as the cost which Tt is associated wlh. 1.6 Tangible fixed asset$ Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognisad so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases- IT equipment 250/0 51raight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carying value of the asset, and is recognised in net incDme/lexp8ndilurel for the year. 1.7 Impairment of fixed assets At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indicatio exists, the recoverable amount of the asset is estimated in order lo determine the extent of the impairment loss lif anyl. 13- PECKHAM PLATFORM LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Accounting policles {Contlnuedl Recoverable amount is the higher of fair value less costs lo sell and value in use. In assessing value in use, the eslimaled future cash flows are discounted lo thèir present value using a pre-tax discount rate that reflects current market assessments of the lime value of money and the risks specific to the asset for which the eslimales of future cash flows have not been adjusted. If the recoverable amount of an asset 15 estimated to be less than tts carying amount, the carying amount of the asset is reduced to ils recoverable amount. An impairment loss is rewgnised immediately in incomel lexpendituro for the year, unless the relevant asset is carried at a revalued arnounl. in which case the impairrnenl loss is treated as a ￿valUation decrease. Recognised impaimient losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss sub5equendy reverses, the carrying amount of the asset is increased lo the rewsed estimate of its recoverable amount, bul so that the increased carrying amount does not exceed the carrysng amount that would heve been determined had no impairnienl loss be&n recognised for the asset in prior years. A reversal of an impairment loss is recognised Immediately, unles5 the relevant asset is carried in al a revalued amount. in which case the reversal of the impaimenl loss is Irealed as a revaluation increase. 1.8 Cash and ca$h equlvalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-lerm liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Financial instruments The charity has elected lo apply the provisions of Section 11 'Basic Financial Inslrumenls, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial slalemenls, when there is a legally enforceable right to sel off the recognised amounts and there is an intenb.on lo sellle on a nel basis or to realise the 8ssel and settle the liability simultaneously. Basic financial assgts Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and a￿ subsequently carried at amortised cost using the effectivè interest method unless the arrangement constitutes a financing transackn'on. where the transaction is measured al the present value of the future receipts discounted al a matl(et rale of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, induding creditors and bank loans are init1311y recognised al transaction price unless the arrangement constitutes a financing transactlon, where the debt instrument is measured at the present value of tha future payments discounted al a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried al amortised cost. using the 8ffeclive intere51 rale rnethod. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classrfied as current liabilibes if payment is due within one year or less. If not, they are presented as non-currenl liabillties. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. 14- PECKHAM PLATFORM LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Accounting policies (Continued) Derecognition of finanGial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.10 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to lerminale the employment of an &mployee or lo pro￿de termination benefits. 1.11 Retirement benefits Payrnenls to defined conlribulion retirement benefit schemes are charged as an expense as they fall due. 1.12 Leases Rentals payable under operating leases, including any lease incentives re￿ived, are charged as an expense on a straight line basis over the term of the relevant lease. Critical accounting estimates and judgements In the application of the charity's accounting policies, the trustees are required lo 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 historic&1 experience and other factors that are considered lo be relevant. Actual results may differ from thèse estimates. The eslimatss and underfying assumptions are reviewed on an ongoing basis. Revisions lo accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and future periods. Donations Unrestricted Restricted funds funds general 2021 Total Unrestricted Restricted funds funds general 2020 Total 2021 2021 2020 2020 Donations and gifts Local Authority Funding Donated goods and setvices 1,826 5,834 1,826 24,424 1,227 1,227 7,510 18,590 7.510 38,000 38,000 85,680 85.680 45,660 18,590 64,250 86,907 7,510 94,417 15- cw o C# 4N o)000 ojooooo ocoo cn 0￿0 G>tS>0 0 r in in o G> f£1 Lfi C? in Cor coo VVI r E c 0 0 0¢5) o)0 (N * (Y) **Exhibitions**
**Education**
**Programme**
**2021**
**2021**
**£**
**£**
Staff costs
92,260
11,080
Materials and Documents
1,886
6,238
Operating costs
30,908
6,680
Marketing
21,082
150
Artists Fees
6,250
950
Evaluation
3,200
300
155,586
25,398
Share of support costs
(see note 8)
54,056
440
Share of governance costs
(see note 8)
1,177
-
210,819
25,838
**Analysis by fund**
Unrestricted funds -
general
133,352
-
Restricted funds
77,467
25,838
210,819
25,838|**Total**
**2021**
**Gallery and**
**Exhibitions**
**Education**
**Programme**
**2020**
**2020**
**£**
**£**
**£**
103,340
54,011
14,440
8,124
1,269
156
37,588
11,134
7,720
21,232
2,696
-
7,200
4,250
4,120
3,500
1,000
-
180,984
74,360
26,436
54,496
111,703
-
1,177
1,361
-
236,657
187,424
26,436
133,352
154,838
-
103,305
32,586
26,436
236,657
187,424
26,436|**Total**
**2020**
**£**
68,451
1,425
18,854
2,696
8,370
1,000
100,796
111,703
1,361
213,860
154,838
59,022
213,860| |---|---|---| - 18 - PECKHAM PLATFORM LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 MARCH 2021 Support costs Support Govemance costs cost5 2021 Support Govemance costs costs 2020 Staff costs Depreciation Support costs Web Design Gallery development 2.708 967 37,107 8,424 5,290 2,708 967 37.107 8.424 5.290 3,015 534 108,154 3,015 634 108,154 Independent Examination Board rneelings 1.177 1,177 1,048 314 1,048 314 54,496 1.177 55,673 111,703 1,362 113,065 Analysed bebNeen Charitable activities 54,496 1.177 55.673 111,703 1,361 113,064 Trustees None of the trustees lor any persons connected with them) received any remuneration during the year, or were reimbursed expenses. 19- PECKHAM PLATFORM LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 10 Employees Number of employees The average monthly number of employees during the yoar was: 2021 Number 2020 Number Management andAdministration Gallery and Exhibitions Employment costs 2021 2020 Wages and salaries Other pension costs 104,397 1,651 93,792 1,407 106,048 95,199 There were seven12020.' seven) employees during the year none12020.' none) of whom were full lime. Two12020'. six) of the employees did not work for the whole of the accounting period. Nil12020.. £23,733) of salary cost during the year was direclty attributsble lo the capitsl project arTd has been capitalised as part of the cost of the project. There were no employees whose annual remuneration was £60,000 or more. 11 Taxation The charity takes advantage of the tax exemptions and concessions available lo it by virtue of its registered charitable ststus. 20- PECKHAM PLATFORM LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 12 Tangible flxed assets L•asehold IT equipment Impro¥8ments Total Cost At 1 April 2020 Additions 47,793 2.751 3.568 50.544 3,566 At 31 March 2021 47,793 6,317 54,110 Depreciatlon and Impaiment At 1 April 2020 Depreciation charged in the year 2.456 967 2,456 967 At 31 March 2021 3.423 3.423 Carrying amount At 31 March 2021 47,793 2.894 50,687 At 31 Ma￿h 2020 47,793 294 48,087 13 Debtors 2021 2020 Amounts falling due within one year- Other debtors Prepayments and accrued income 18,590 689 689 19.279 689 14 Credltors.. amounts falling due wthin one year 2021 2020 Other taxation and social security Trade creditor5 Accruals 3,226 8,333 1,660 2,093 4,529 1,660 13,219 8,282 21 PECKHAM PLATFORM LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 15 Retirement benefit sch8rn8S Defined contribution schemes The charlty operates a defined contribution pension scheme for all qualifying employees. The assets of th scheme are held separately from those of the charty in an independently administered fund. The charge to profit or loss in respect Df defined contribution schemes was £1,651 12020 - £1,407). 22- c* c tyrtèo£E LU OL OLU O