REGISTERED CHAIUTY NUMBER: 1155680 STANLEY ARTS FlninclRI Statements for the Year Ended 31 Mareh 2024 Xeinadin Audit Lin)ited Chartercd Accouotants and Statutory Auditor8 Nightingale House 46-48 East Street Bpsoln KT17 IHQ
STANLEY ARTS Contents ofthe Flnanci81 Ststements for the yeAr ended 31 Mar¢b 2024 PAge ChAlrmon's Report Report ofthe Trustees 3 to 10 Report of the Independent Audltors 11 to 13 Statement of Flnanclal Acdvlde$ 14 Balance Sheet 15 Calh Flow Statement 16 Note$ to Ibe Cash Flow StAtement 17 Notej to the Flnan¢lal Statements 18 to 25 DetAUed S¢Atement of FlnaDelal Aedvltleg 26 10 27
STANLEY ARTS Cbalrman's Report for the year ended 31 March 2024 As we close this fmancial year. we look back al the start of the 2023124 fmallcial year, whtch saiv us implement and expand furiher our artjslic vision and community engagement tsrgets. soltdifying Stanley Arts as a radically inclusive artistic hub at the heart of South Notwood. Despite still suffering the impact from the slow retUTn of our in-house booking5 from the previous year. and our hires slowly 5tartillg lo reach our predicted targets, our conlinued growth and rinancial $trengtb gave u5 a firtn belief tbat we were on tbe right track. Aad we continued to offer significant staff support as part of our role in Croydon's year as London Borough of Culture ILBOC). The Stonley Arts Board of Trustees is expanding and the working groups are in full function, and welcomes four new members Abdulla Zaman, Rob Berkeley, Holly Vickers and Kelsey Williams.This responds to our previoiis reslw¢luring impl¢mentalion need for recruitment, bearing in mind we had five board members Tesigning after th¢ end of their tenure: Cameron McLeod, Richard Coopey, Sabrina D'Anjou, Sharon Ballard and Kimberley Thomas-Curri¢. We ihank every single one of our former tTUStees for their support and passion in nkIng Stanley Arts achieve all its goals. However, three of those fonner members are still with us and will continue to support the board activities from our newly fomied advisory board- Cameron McLeod, Sharon Ballard and Kimberley Tbornas-currie. Alongside the £307k per annunj for four years (given the ncw structuic proposed by ACE) from our successful bid 85 NPO, we were grateful to receive ongoing support from slatutory and other funders, including Arts Council England (C&pilal Development Programme), Mayor of London, Croydon Council, DCMS. Historic England, National Lollery Heritage Fund. Thealrcs Trust, I£¢he TDJSI & th¢ Archi¢tural H¢ritagc Fund. FNil of oiw ADICEO, Dr. Dan WindevJ¥ great leadership and gregarious na¢ure w8s responsible for seeing Stanley Art8 from its NPO early stage5 of applicalion, LBOC period, and a true hands-on approach to our capital ptojecl which is currently still in progress. Dan has not only seen th¢ transformation of Stanley Halls into our Current Stanley A, but he undoubtedly has led the tTansfoTmation of our incredible building into a bome for our community of Artists, practition¢rs, visitors, staff and all collaborators - our Sianley Arts family. We see Dan, who has led our organisalion since 2019, depart from his current post to assurne the ADICEO role at Barn.sley Civic in October 2024. Words can not express bow thankful we are for all Dan bas done for Stanley Arls, and know that he will continue to cbampion us as we will continue to champion him in his new endeavors. We also see the departurc of our hntsslic Learning and Engagernent Manager, Moa Strand, whose dedication and coinmililleut to our conununity projects and pArtn¢rs helped our porifolio of learnin8 aclivili¢s and new approacbes lo engagement ivilh our community 8row and become &$ robust as it is now. L4ura Buellesbach will be stepping in as interim I, & F. Manager until January. We ivish bolh Dan and Moa all the best in their neiv paihs, and thank them for their superb eonunitment lo our Slanley Arts family. W¢ also Eook forward to welcoming Louisa Peslcll to our In11Y wilh open arn]s. As on accredited Living Wage Employer, we continue lo ensure thal all our slttff arc patd at least the London Living Wage, W¢ also continue lo collect the laurels of OUT strengthened institytional posilion, however, Ihe challenges on paving our pathway to continue in this strong position still call for an active participation of all members of the board in order to support this trajectory, and the ¢ng88em¢nt of tntee$ in the workgroups will be parnmount for this engogement lo respond to our cutrent needs. We are elated for our many successfvl bids (captained by our brilliant Senlor Fundraising Man8ger Nichc)las Morgan) and incredibly fruitful partnerships gamered by our fantastic fundraising and managemcnt team, the continued Collaboration between our SMT and our board of trustees. We arc in belter financial sbRpe than w¢ could ever expect, which makes OUT plans for the fulure nol so out of reach, always gulded by our vision to continue to be one of South Lolldon's Prcmiere arts and performance venues, providing our local community wfftth a vital home for cultural expression and discov¢ry. We continue to seek to foreground under-represented voices• providing black, globAI majority, working-class, neuro-divergent and LGBTQI+ creativ¢s with a platforn] lo reach out to audience5 across South London and beyond. Page I
STANLEY ARTS Chairman'5 Report for the year ended 31 MAreh 2024 On behalf of all of u8, tTUStccs of Stanlcy Art4 I extend my tlwiks to the individuals, gToups, organisalions, trusts, foundations and statutory authoriti that have continued io support us. We are especially grateful lo Arts Council England for the guidance and support in our successful application as a National Portfolio OrgaDisalion. And lo our r¢mArkably ever so talented and growing staff teatn who have consislenlly done all they could to keep us on a steady growth trajectory and to make a positive contribution to the cultural fabric of South Norwood, Croydon alld beyond - we are incredibly excited of what ltes ahead, and we could not have made to here without each and every one of youl Dr. Almiro Andr&de Chair of the Board of Trustees Stanley Arls Page 2
STANLEY ARTS Report of the Trustees ror the year ended 31 March 2024 Th¢ tfuslees PT¢senl Iheir report with the finallcial stal¢m¢nls of the charity for the year ended 31 March 2024. The truste¢s have adopted the provisions of Accounting and Rqx)rting by Charities: Statement of Recomrnended Practi¢¢ applicable to charities preparing tbeir accounts in Krordance with the Fioan¢ial Reporting Standard applicable in the UK and Republi¢ of trelalld (FRS 102) (effective l January 2019). OBJECTtVES AND ACTIVITIES Sunimary of the purposes of ibe charlty as set out In Its governlng document The objects of the Charity aTe'. l. For the public benefit, to preserve the buildings known as Stsnley Halls; and 2. For the publi¢ benefit, including particular reference to members of socially andlor economically disadvantaged communilies, to adv8nce> promote, encourage, educale and develop appreciatton and enjoyment of. Access to, and participation in th¢ art$, Culture and berilAge. Main Aetlvittes undertaken for the publlc benellt in relatlon lo these objeets The main activities undertaken for public b¢n¢fit have been: - Continuing to fundraise for and invest in the restoration, renovation and improvement of our historic home. Playing a key role in the development and delivery of th¢ London Borough of Culture progrAmme acros8 Croydon throughout the year. Producing and h05tin8 events open lo the public al Stanley Arts - for¢8roundin8 under-represented voices, providing artists of colour and LGBTQ+ ¢r¢ativ¢s wtth a platforzn to rcach out to audicnces acros5 South London; Ihrough a programme of dancei perforniance and visual arts. Providing a creative home to 8 ran8¢ of individual local artists And perforniillg arts organisalion5. 811 part of the Stanley Family. Pursuing a rang¢ of fundraising applications aimed to continue the ongoing fancial suslaioability of our OTganisalio Supportin8 the local economy tlwougb direct employmenl and Ihe use of lo¢al suppliers and trades. Publlc benellt The obje¢tives and Activities and achievernenls ond perfomiance se¢lions of this report clearly set out the a¢tivilie5 Ivhich Ibe cbarity undertakes for th¢ public benefit. The trustees confimi that ihey have complied with the duty iti section 4 of the Charities A¢1 2006 to have due reg&Td lo publi¢ benefit guidance published by th¢ Commission in deterniining Ilie activities undert8kcn by Ihc charity. Page 3
STANLEY ARTS Report of tbe Trnstees for Ihe year ended 31 March 2024 ACHIEVEMENT AND PERFORIKANCE CEOIArtlstlc Dlrector's Summary Introduetlon For Slanley Arts, this wa5 an exceptionally busy year. fi1 of ¢ballen8es and excitement. After two years of planning we saw the start of Croydon's year a5 London's Borougb of Culture a programme we have played a key rol¢ in, throughout the development and delivery schedule. Through th¢ LBOC year over 655,000 peopl¢ engaged with the ivork of more than 2750 artists, across Ihousands of different events & culturAI opportimilies. SLinley Arts and its team were central io making a lot of this extraordinary achievement possible. Alongside all this borough-wide delivery and sector development we also completed our first year as a new member of Arts Council England's National Portfolio. Throughout the year we continued to grow our own pmBramme and invest in our buildings alld technical infroslrncture. FlnaD¢lwl Perfornjanee Considering th¢ macroeconomic climate we had an excellent fmancial year. We ended ihe final quarter with a surplus of nearly £60k. This was almost double our budgeted sutplus. With a planned expansion in payroll, fimded by ACE NPO money, our staffin8 overheads iyere up by £200k on last year. and ihe completion of phas¢5 of capital works bas seen our depreciation and other building overheads double to £250k. However this increase in th¢ cost base has more than been compensated for by an increase in revenue, particularly ndraised incom¢. Our gross trading revenue is up for 50k to around £410k n¢t ihe costs of sales. This repTesents yearwon-year an improvement of around 140/0. Our fundraised revenue h&8 glmost trebled from £344k lo £980k. This lar8e increase is very welcome, though in future years we would hope to see a rebalancing, with furth¢r growth in camcd income starting to rebalance ibe overall income mix 50 that we are nol relying so heavily on external fijnding sources lo mainlain Current activity and sta1n8 levels. The nel Assets of the charity increased from rou8hly £39k at the end of March 2023 lo around £99k at the end of March 2024. Reerultment As part of a strategy to broaden and diversify our board of trustees, in S¢plember 2023 wc recruited a new chair, Almiro AndrAde. Almiro is currenily a Lecturer in Contemporary A¢lin8 and Associate Lecturer in Dramaturgy and Performance for Film and I'elevision at University of the Arts Lon(lon. His work as an educator spans over 25 years both in the UK and abroad, with Ihe last 6 of those years he was th¢ Chair of ihe Board of Trustees of stonecrabs Theatre Company* which he joincd as an artistic 85sociate in 2011. Our outgoin8 cbairrn8n, Cameron McLeod, bas generously stayed on tbe board Ibis year lo support thc transilion process. He stepped into lh¢ role of treasurcr to ensure continuity of finaiicial overs¢. As part of our ACE NPO plan for this year, we allocalcd the additional core resources received towwds slatT recruitment in key areas. This included p new Markcling Manager, Ella Goel, and a new General Manager, Corinne Beaver, who both joined us in Jun¢ 2023. This expansion of our Senior Management Team will ensure successful delivery of our organisalional development and gr0h plan& Corinnc in particular has brought a wealtb of expeTtence from a long career in arts management. Since her appointment he has focused on a range of structural and operational improvements, further developtng and inslituting a broad range of policies and procedures, ensuring that Stanley Arts has all the infrastructure needed to ensure a Stable and 5115tainable future. In addition to these two key SMT roles we also recruited for a part-time Data Athninistrator and part-time Community Data Collector. This ivas part of a strategy to invest in our data and evaluation capacity. With multiple fimding patlners, and Ihe new ACE NPO evaluation framework to deliver, il was iinportanl lo create dedicated staff roles in this ar¢a. This will ensure a continued good Telationship with existing fUllde, and help with providing an evidence base for futt]re fundiog bids. Page 4
STANLEY ARTS Report of the Trustees for the year ended 31 March 2024 There w¢re some stair rclenlion issues lo overcome ill th¢ year. We initially recTUited for a Learning & Engagement Youlh oificer in Aug but had to re-recruil in November 2023 as the original c8ndidat¢ decided th¢ rol¢ was not right for them during their Ihree-month probationary period. The new candidate, Andrew Millar, has been a great addilfon to the Learlling & Engagement team, so the outcomc was very positive. We also ICCTUited Yasmin Downie, our n¢w Learning & Engagement Heritage OITicer in SepL to deliver the Historic England'Framing Croydon, programme. In th¢ year, we recruited Kay Mi¢ha¢l & Chrissy Jay on ftxed Contracts lo d¢liv¢r our Carnival of tnvention and Arcadia proje¢ls' as well 85 a Venue T¢011¢Aan to support our Senior Tech in d¢liveriDg what was a very busy second half of the year. The use of fixed-temi contracts lo help bolster our in-house production capacity for specific PTojeels has proved effective; though we may look to Tecniil our own Senior Producer to lead on in-house projects in the next tax year. Funding Joinin8 the ACE NPO means £30Tr PA for the next three years to cover the core costs of Stanley Arts. Alongside this vital funding we have also been very successful in using our year as a key cultural hub for London Borougb of Culture to argue for additional revenue 8UPPOrt for differenl strands of cultural delivery. As the LBOC lead for Queer Arts we raised £65k from ACE, the GLA and Croydon Council for a year-long queer arts programme. Our growing partnership Ivitb the GLA has also seen u5 funded £60k lo deliver a two-day youth mental health event, Rewire, which is the culmination of the threppyear 2.8 Million Minds l Thriv¢LDN programme. As lh¢ Heritage lead for LBOC we supported Croydon Council lo write a bid for a £265k NLHF heritage engagement programme - wiib £85k of that overall funding supporting work delivered by Stanley Arts. At the end of lax year we received confirnlation of a successful NLHF of our own for a £226k programme of boih capital work and hciitsge engagement to celebrate Ihe decorative scheme of Stanley Halls. During the year we also were success1 in gaining £49k from Hisloric En8land for the Framtng Croydon projwL wbicb will explore ways to engage loc&1 communities with Ihe intangible herila8e of local herits8e assets at risk. A two-year Place Partnership programme, llded by Arts Council England, started this year. Again, Stanley Arts led on the bid writing for an overall project budget of £548k, Iviih £135k of this money direclly supporting SA to deliver a two-year artist developmcnt programmc And lo support tbe development of Queer Croydon. Smaller-scale successful fvnding includes the GLAICEZ'S Green Investment scheme for insulating our lofts for £IOk, £20k from the Sivkre Foundation as malch for our NLHF programm¢ and over £20k from th¢ Vogv¢ World fund lo support our overall Cul[1 &ctivities. Alongside fijndraisitig for Stanley Arts, we have also worked closely with two organisations within th¢ StAnley Fan]ily, Beeja Dance and Birdgang Lid, lo successfully fundraise for two PTojects of theirs for delivery at Stanley Arts, Though providing this support does not dircclly benefit Slanley ATts bottom line, il helps our key artistic partners develop and grow. fulfilling on¢ of our key charitable objeelives - the support of ihe ivider artistie ecosystem. London Boyough ol Culture Programme Our support for the year-long programm¢ was extensive. Behind the scenes we led and hosted the inonlbly LBOC Steering Group m¢etings, contributed to ihe overall Strategic Programming board, and managed and delivered the Queer Arts Network meetings, the Youth Arts meetings, the Markeling, Evaluation and ih¢ Legacy sub-group meetings. A5 cliair of the LBOC steering group our ADICEO was part of all the major decision-making processes for tbe LBOC year. Our ¢r¢aliv¢ team led tbe Queer Arts and Heritage pgrAnlle5, as well as supporting most of the Dance strand. We delivered a broad range of show5, dances, exhibitions and partt¢ip3tory events for the LBOC programme, both al Stanley Arts and across Croydon. From the LBOC launch event to the closing weekend, our dedicated Staff were extensively involved. Highlights iucluded th¢ Open House heritage ptogramme, a progrdmme of South-Asian heritage arts showcased across Croydon and wider London, the Collide queer arts event, our four Queer Arts Conynissior8, Croydon Pride, Croydon Mela, Bold Mellon's Queer Joy exhibilion, Zooco's NightshifL Dance Umbrella & Birdgang's Family {dy5)FunGtion, Requardl & Rosenburg's Super Extra Nalural Nonnal - at the Whilgift Shopping Cenlr¢, and Theatre Rites, Journey of a Refugee. Page 5
STANLEY ARTS Report of the Trustees for the year ended 31 Marcb 2024 The first phase of the Queer Arts programme, delivered in partneT5hip with RAZE Collective, 5UPPOrted ihe development of a range of inslallalion art and p¢rforniallc¢s in July 2023. Th¢ commissioned artists wer¢ Amani, an0nly• Bilan Suliman, DatY Bailey & Alizée Ndiaye. Dot Alma, Duncan Disorderly. June Lam, Lateisha Davine Lovelace-HansO Orion Isa8cs & Tanaka Fuego. The second phase saiv us Work in a more indepth way lo develop the work of four artists I groups for premi¢r¢ perforniances in Feb & March 2024. These new pieces were Finding the Right Words from Debris Stevenson, Crying Shame from Sweet Beef, Pigeons from Jules Cunningham and Finding Olokun from Danny Bailey. All of these new works continue to be developed beyond this iniltal launch opportunity. We also delivered impactfvl digital conlenl, including a regular LBOC podcasL produced in-house by oiir sentor technician, and. working closely with choreographer and film-maker Simeon Qsyea, Ihe f8nlaslic Croydon Chronicles films - which combined the music of local icon5 like Samuel Coleridge Taylor with the dance skills of dancets from the Brit School and Birdg8ng's Eggz youtb dance group. The reach and scope of the over811 year-long LBOC programme was extensiv¢ with 114 parther or8anisalions working with 2750 artists to reach audiences of 655.000 over 12 months. 920/0 of Croydon's schools were involved and over 16,000 opportuntties were taken up by young people. Over IOIXI people volunteered across the more ihan five events per day that we averaged for Ibe whole year. Cultural Programme Beyond LBOC we continued to deliver a broad cultural programme at Stanley Arts. The rern of the Commons dance festival saw us work wilh Akademi Dance. Thick and Tight, Birdgang Ltd and SE19 Dancc Company. and support dance artists like Hannah Ekholm & Faye Stocscr lo devi.lop new work. The summer brought Family Prid¢, our annual celebration of diverse queer families, led by regular collaboralor Mama G. Our family theatr¢ programme moved towards a more regular schedule, settlin8 into a monthly slot by the end of Ihe year as we continued to grow family audiences. We used major festivals like Halloween and Cbristrnas lo engage the broadest of audicnces with our family-friendly programme. This year our panto, Jack & the Beanstalk, produced in partnership with Petit¢ Panlos, was our biggesl and best yet. Thc imrnersive Grotto experience a huge success. Beyond Ihe Conimons festival, dance continued through the year. We saw dance battles from botb BirdgAnB and Indahouse and the relurn of Halchworks Birdgan8's annual development project and showcase for llew horeographers. Beej8 Dance d¢liv¢red community dance eveols for both Ibe Holi and Diwali celebralions. Other events include the South Ix)ndon Comic & Zine Fair, Ihe finale of the Crystal Palace Internation81 Film Festival, an exhibition exploring the scores of Samuel Coleridge Taylor. and Room3Dream's 3D film presented in a pop.up dom¢ in tb¢ centre of our main hall. The first year of our Place Partnership-funded emer8in8 artists and dance programme supported perforn?ances of Co-Diwtors Daryl Beelon and Lina Johansson Look Mum, No Hands! and Birdgang Ltd'5 BOOK 4 SHORTS as part of The Place's Playground Tour project. We provided a development grnnt for Anders Duckworth's Little M; & trans reimagining of the Little Mermaid story. We also supported Dancc Umbrclla's Skydiver- a family dance show that was part of their Orbital tour, Second Hand Dance's The Sticky Dance, Cathay Waller Dance's US a dance drone film project, and Requardt & Rosenberg's PlayAn8 Croydon. The Second and final year of Ihis programme will see an ¢ven wider rang¢ of op¢ra. music, theatre alld perfomiaDce supported. Key culmtal partners included Birdgong Ltd, Boundkss Theatre, Zooco, Beeja Dance, RAZE Collective, Bold Mellon and Queer Croydon. all forn]al rnembers of the Stanley Family. Beyond Ihese regular collaborators we also worked wÉth Dance Umbrella, Theafre Rites, The Place. The Brit School, Pointe Black. ThrivelAin, Indahouse and Reaching Hi8her: and individual atli51s Kenny Willg Tao Ho, Purrsia Kitt and Wathy Waller Bridge. Youtb Arts Pag¢ 6
STANLEY ARTS Report of the Trustees for the year ended 31 March 2024 Wilh the arrival of a dcdicaled Learning & Engagement Youth Officer. funded by the Paul Hamlyn Foundation, we were able lo expand the range and reach of our WOTk with and for young people. The centrc of our year was the Arcadia project. This programme worked with five delivery partners, Cyrus Consulting, Croydon Youth Assembly, Boundless Theatre, Croydon Youib Theatre Organisalion and Zooco, and fify young people. to explore issues arouJ)d the climate emergency and to make creative responses to the subject to be shared as part of a weekend-long Arcadia festival in April 2024. The five groups rnet regularly tlwough the year to ensure a shared approach and coherent aesthetic Ivhich will infomi the diverse range of creative responses tbat each group will presellt in April 2024. Alongstde the work of the youn8 people, our producers Kay Michael and Chrissy Jay, are developing a broader programme of workshops, exhibilions and sector enga8ement events for the end festival; designed to complement the core youth arts activity. Under th¢ leadership and guidance of our ¢xperienced producers, and with professional devclopmeJ)t support from Boiindl¢ss Thcatrc, five young producers helped lo deliver tbe whole of the Arcadia programme, ensurin8 ihat we also were helping to develop the next generation of crealiye producers. Alongside the year-long Arcadia PTogramme we also Worked closely with Boundless Theatre to deliver a Iwo-day summil focusing on youih mental healtb attd creativity. The Rewire Sun)mit, whicb was presented al Stsnley Arts ia Feb 2024, grew out of a sequence of meetings held by ThriveLDN with a range of London-wide parlners. ThriveLDN hav¢ been d¢v¢loping tbeir work ID ihis area for three years, including the previous 2.8 Million Minds project. The Rewire Summit was the next step tn this ongoing programme and brought young people from Across London togellier to explor¢ issues around youth mental health and the role that crealive institutions and crealive activity can play in improving mental health outcomes. After th¢ R¢wire FestlV81 we conlinue to engage with Thriv¢LDN and th¢ GLA to explore fure opportunities to collaborate in this vitsl area. HerltAEe & Communlty Engagement The three year Historic England Future High Streets Cultural programnle cuirnin&ted in Ihc Feslivftl of Invenlion - a day-long street festival on Station Road, produced and delivered by Stanley Art5. The highlight of the packed day of community activity, perforniances, workshops and stalls was a soap-box race down the lellb of Ihe road, featurillg cars produced by Iwal teams to celebrate the creativity and history of Soulb Norwood. Alon8side the Festival of Invenlion, tb¢ programm¢ olso funded th¢ completion of Marlin Ed¢n's ¢pi¢ eight-part zitie series The Mysterious Door of Slanley Halls. This fan18slical reimagin&lion of the history of Soutb Nonyood, and its famous name5, will bc reprinted as a single collectors-item book. Our follow-up ¢ollaboralion with Historic England is an exploration of the intsngible heritsge of buildings* focusing on the ¢motional and personal connection people have with their built-environment. The Frnmkng Croydon programme will contribute to Historic England's neiv national berilage engagemenl strategy, and develop And explore ways lo better connect local communities wilh more fonnal civil society institutions like COUDcjls and conservation officers, lo woik together to ensure the preserv81ion of our shared herilage. We also received funding from the National Lottery Community Fund for a Special community celebration of the King's coronation. Our day-long party fealured a coiwnunity feasl. music. dance at]d creative workshops for everyone. This a wonderful way lo celebrate the start of the new King's reign. Capltal Works With a focus on cultural delivery, there was less major capital work this year than last. The frontage work was completed with the delivery and installation of our nV Tailings - wonderful h3nd-crdlled replacements with a design inspired by the original 1909 railings wllich were removed during the second World war. We invested in reducing tbe energy fooiprinl of our building with insulAtion installation across all ow main lofts. We also look th¢ opportwlity to fit new ladders and access hatches lo allow us to myJ(e bell¢r us¢ of these spaces for storag¢. We fitted a water butt in our back yard to store iainwat¢r for use on our plants. We also it)stalled attd improved tbe toilets next to our Assembly room with the addition of sympathetic tiling, and th¢ inslallalion of two more cubirles and new wash basins to expand capacity. Page 7
STANLEY ARTS Report of tbe Truslees for the year ended 31 March 2024 Future Plans YE25 ivill be the second year of delivery for both OUT Place Partnership-nded Emerging Artists & Dance programme and the Paul Hamlyn-funded youth arts ¢ngag¢m¢nt aud sector development support. As we emerge from our year as London's Borougb of Culture we will be working with paTthers to ensure a cultural l¢ga¢y for both Stanley Arts and the broader Croydon cUlra1 ecosyslem. In particular we will belp establish Culture Croydon as all ougoing foTum for th¢ creative sector in Croydon. Our work supporting Queer Croydon will continue as it looks to establish itself as an independenL cOnstited members-led organisation. We ivill seek to continue developing our ivorking relationship with key partners like the GLA aad ThriveLDN, offering a local plaifonn for cultural projects that seek have social and health impact. We will seek rth¢r operational improvements as we embed our new CRM and ii¢keting sy&t¢m and invcsl staff time in streamlining the delivery of our ¢valuation framework. A key ndraiSing and developmeni focus will be a large-scale capital development projecl for the whole building. In the meantime w¢ will continue to deliver smaller scale capilal itivestmellls. Next year the immediate capital focus will be our NLHF-funded decorative sch¢m¢ proj¢¢l which includes Testoration and repairs to our hisloric floor and wall tiles. FINANCLIL REVIEW Investment pollcy 8nd obJectlve$ There are no restrictions on the charity's power lo invest and tbe curreni policy is to illvesl in sbort temi ndS with the charity's bankers. Reserves poucy In order to provide an effective alld efficielll service, the twslees have sel a reserves level to etsable a smooth transition to a lower level of servi¢¢, in the event of fvnding not being sulTi¢i¢nt to cover cxpenses in Ihc future. The Iruslees have a reserve target of approximately three months of core payrolM)udgeted operating expcnses. With our increased cost base, the new monthly figure for building And staff overheads is approximately £70k pcm. Thi$ means & new target reserves level of £21 Ok. The tNsle¢s will also de5ign&te fimds for specifjc PUryK>ses from tim¢ to time. By year-end. the total ofreserves increased from £36,532 to £257,892. STRUCTURE, COVERNANCE AND MANAGEMEIYT Governlng dotument Stanley Arts is ¢QDStitui¢d as a Charitable In¢orpoTafrd Or8anisatioD and operate5 under a constitution and witb charitable objects approved at a general meeting of members on 19th January 2021. In accordance with the charity's ODStitution, there shall not be less than seven iTUStees nor n)ore than eleven INslees at any lim¢. Recrultment and appolntnient of new trustees All tTh5tees are nominated and appointed by the cxisling ITUStees on the basis of specific skills and knowledge to enable thcm to make a contribution to the management of th¢ clwity. Owganls8tlonal structure The Board has established a number of sub-bToups with specific Tern of Reference to asstst in providing oversight and constructive challenge. These currently include the HR Con)rnittee, Capital Works Group, Artistic Progrkmme, Environmental, Finance. Equality, Diversity & Inclusion and the Fundrttisillg Group. These groups will conlinue to evolve as needs Change. Day-to-day management of Stanley Arts is delegated lo the Artistic Dircctorl CEO, Dr Daniel Winder, and tbe Board once again records ils appreciation lo Dan and his team for their contribution over another challenging yeaT. Rlsk manAgemeDt TStee8 are mindful of their responsibilities aod review risk on a Tegular basis. Th¢r¢ is an assigned role of Risk Lead on th¢ board, The trustees have considered th¢ broad areas of risk for the charity and have put iti place certain measures to miligate or negate these risks. This is kepi undei review and spe¢ialist advice is sought where neccs5&ry. Page 8
ANLEY ARTS Report of the Trustees for the year ended 31 March 2024 RKFERENCE AND ADMINISTRATIVE DETAILS Registered CbATity number 1155680 PrlnclpAI Address 12 SouthNorwood Hill London SE25 6AB Trustees Dr A Andrade Chair (appointed I1.9.23) Ms A Blocker (appointed I1.9.23) Ms C Evans G Main (appointed 22,4.23) Mx EM Williams C McLeod Ms S BRllard R Coopey A Gr¢¢n (resigned 25.7.23) Ms K Thoings-currie G Whitlock (resigned 25.7.23) Audltors Xeinadin Audit Limited Chartered Accountants and Statutory Auditors Nightingale Housc 46-48 Easl Street Epsom sU¢Y KT17 IHQ STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees are responsible for prcparing thc Annual Report and the fmancial statements in accordance with applicable 18w alld United Kingdom Accounling Standards (United Kingdom Generally Accepted AccounlinB Practice). The law 8pplicable to charities in England and Woles, the Charities Aet 2011, Charity (Accounts and Reports) Regul&tions 2008 and Ihe provisions of the trust deed requires the trustees to prepare financi&l slalements for each fin8n¢ial year whi¢h giv¢ a true and fair view of the stste of affairs of the charity and of the incoming resources and application of resources, including the illcome and expenditure, of the Charity for th8t period. In preparing those fiiiancial slalemenls, the trustees are required to 8elecl suitable accounting policies and then apply theih consistenily• observe the Tnethods and principles in the Charity SORP; make judgements and estimates that are r¢asonable and prudent; state whether appltcable accounting stsndards have been followed, subject lo any material departures disclosed and explained in the financial statements. prepare the financial statements on the going concern basis unless it is inappropriate to pregun)e that the charity will continue in business. The Iruste¢s are responsible for keeping proper accounting records which disclose with re850nable accuracy al any time the financfial position of the charity and to enable them lo ensure ih81 the fman¢ial stalements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding ihe assets of the Charity and hence for takin8 reasonable steps for the prevention and detection of fraud and other irre8ularilies. Page 9
srANLEY ARTS Report of the Trustees ror Ihe year ended 31 Mareh 2024 19.11.2024 Approved by order of tbe board of trust5 on ...................... ...................... and signed on its behalf by: Dr A Andrade- Trnst¢¢ Page 10
Report of the Independent Auditors to the Trustees of Stallley Arts Opllllon We have audited the fmancial stslements of Stanley Arts (tbe 'cbarity) for the year ended 31 Mareh 2024 which comprise the Statement of Financial Activilie5, the Balance Sheet, the Cash Flow Statement and note5 to the financial statements, includillg a 5umJnw of significant accounting policie5. The fmancial reporting framework that ha8 been applied in their preparation is applicabl¢ law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements- give a trLEe and fair view of the stale of the charity's alTairs as at 31 March 2024 and of its incomin8 resources and applieation of resources, for the year then ended. have been properly prepared in aordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance wiib the requirements ofthe Charities A¢t 201 L. Bgsli for oplnlon We ¢ondv¢ted our audit in a¢eordanc¢ with International Standard$ on Auditing (UK) USAS (UK)) and applicable law. Our r¢sponsibilittes under those standards are further described in Ihe Auditors, responsibililies for the audit of the rinanGi81 slalements se¢tion of our report. We are independent of ihe charity in accordance with the ¢thical requiremenls that are relev8nl to our audit of the fmallcial slalemenls in the UK, including Ihc FRC'S Elhi¢al Slandard, and we have fulfilled our other ethical responsibilitie5 in accordance with Ibese requirements. We believe that the audit ¢vidence we have oblained is sutyicient and appropriate to provide a bAsis for our opinion. Con¢luslon5 rel8tlng to golng eoncern In auditin8 the financial statements, we have concluded tbot the tnlee$, usc of the going concern basis of 8c¢ountitig in the preparation of the fmancial stalemenls is appropriate. Based on the work Ive have perfonned. we have nol identified any material uncertainties relating to events or condition$ that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for pcriod of at l¢ast twelve months from when the financial statcmcnts are authorised for issue. Our responsibilities and the responsibilities of ih¢ trustees with Tespeel to goin8 concern are described in the relcvanl sections of this report. Other Inlormatlon The Iruslees are responsible for th¢ oihcr infornialion. The other infornlation comprises the inforn]alion includcd in th¢ Annual Report, other Ihan the financial statements and our Report of th¢ Indwnd¢nt Audiiors tliereoii. Our opinion on the fthancial slatemenls does not cover the other infomiation and, except to the extent otherwise explicitly stated in our report. we do not express any forni of as5umce conclusion thereon. In conne¢lion with our audit of the financial slatemenls, our POnSIbl]Ity is to read the other inforn]alion and, in doing so, consider whether th¢ oth¢r infomation is materially inconsistent with the financial slalements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such malcrial inconsistencies or apparent materi81 missl8lement$, we are required to del¢rmine wbeiher this gives rise lo a material misstalem¢nt in th¢ fanCIaL statements themselves. If, based on Ihe work we hAv¢ perfornied, we conclude that there is a material misstatement of this other iDfomiation, w¢ aT¢ required to report that fact. We have Dothing lo report in thi5 regard. Matt¢r$ on whlch we are requlred to report by excepllon We have nothing to report in respect of the following matters where the Charitiey (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: the information given in the Report of the Trust$ is inconsistent in any m8teri81 respe¢l with the Fancial statements. or sufficient a¢couiLting iecords have not been kept. or the fitlancial statemen15 are not in ageInent with the accounting records and returns: or w¢ have not r¢ceived all the infomialion and expl8natlQD5 we require for our audit. Pagell
Report of Ibe Independent Audltors to the Trustees of Stanley Arts Respon$lbllltles of trustees AS ¢xplain¢d more fully in Ihe Statement of Trustees, Responsibilities. the InleeS 8Te responsible for the preparation of the fmancial statements which give a true and fair view. and for such internal control as the truslecs detem]ine is necessary lo enablc the preparntion of fman¢ial statements that are free from material misstatem¢nt, whether due to fraud or error. In preparing the finanoial statements, the trustees are responsible for asSCS5ing the charivs ability to continue as a going cono¢rn, disclosing, as applicable, matters related to going concern And using the going concern basis of accounting unless the tslee5 either intend to liquidale tbe charity or to cease operations, or bave llo realistic alternative but to do so. Our responslbllltlos for the 2udlt of tbe flnanclal statements We have been appoinlcd a5 auditors under Scclion 144 of th¢ Charities Aci 2011 and report in accordance with the Act nd relevant regulations made or having effecl thereuoder. Our objectives aT¢ lo obtain reasonable assurance about wbetbcr the fumncial 51alements as a whole arc free from malerial misstatement. whether due to fraud or error, and to issue a Report of the Independenl Auditors that includes our opinion. Reasonable assuronce is a high level of assuTance, but is noi a guarAntee that an audit conducted in accordance with ISAS (UK) will 8lways delect a malerial misstalement when it exists. Misslatemenls call arise from fraud or c0[ and are considered material if, individually or in the agBregale, Ihey could reasonably be expected lo influence the economic decisions of users taken on the basis ofthes¢ fmanci81 slatements. The extent to which our procedures are capable of detecting irffgularities, including fraud is detailed below: Identify and assess the risk of material misstatement of the fancIal statements, whether due to fraud or error, design and perfonn audil procedures responsive to tbos¢ risks, and obl8in audit evidence that is sufficient and appropriale to provide a basis for our opillion. Tb¢ risk of not d¢t¢¢ling a mat¢rial misstal¢m¢nt r¢sulling from fraud is &igher Ihan for one resulting from error, as fraud may involve collusion, for8ery• inl¢nlional omissions, mt5r¢pr¢sentalions or the override of internal conlrol. Obtain an understanding of internal control relevant lo the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the company's interngl control. Evaluate the appropriateness of accounting policies used and the reason8blencss of accounting estimates and the related disclosures made by the director& - Conclude on Ihc appropriateness of the directors, use of the Boing concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related lo event or wnditions that may cast significant doubt on the company'5 ability to continue as a going concern. If we conclude thal a material uncertainty exists, Ive are required to draw attention in our auditors report lo the related disc105UTe in the financial slaternents or, if such disclosures are inadequate to modify our opinion. Our conclusions are based on the audit evidence obtained up to ihe dat¢ of our auditoV8 report. However, future events or conditions May cause the company to cease to continue as a going concern. Evaluate tbe overall presentation, structhre and conlent of the fanCIal statem¢nts. including the disclosures, and )vhelher the fmancial Statements represent the underlying transaGtion5 and events in a manner that achieves fair pr¢5entation. A thrther description of our responsibili11 for the audit of the financial statements is located on the Financial Reporting Council's website at wi¥w.frc.org.uklaudilorsresponsibilities. This description forn)s part of our Report of ihe Independent AuditOTS. Page 12
Report ofthe Jndepelldent Auditors to the Trustees of Stanley Arts Use of our report This report is made solely lo the charity's tstee5, as a body, in accordance with Part 4 of the Ch8riltes (Accowlts and Reports) Regulations 2008, Our audit work has been undertaken so that we might state to th¢ ¢barity's trustees those mattS we are required lo state to them in an auditors, report and for no other purpose. To the fullest extent pern]itted by law, we do not accept or assume responsibility to anyone other than the charity and tbe ch8Tity'S trusl¢es as a body, for our audit work, for this report, or for th¢ opinions we have fonned. Xeinadin Audit Liftnited Chartered Accountants and Statutory Auditors Nightingale House 46-48 East Street Epsom SUeY KT17 IHQ Date.. Page 13
STANLEY ARTS Stafemenl ofFin4ncial Activities ror the year ended 31 March 2024 2024 Total fund 2023 Total funds Unrestricted fund Restricted fimds Notcs INCOME AND ENDOIVMENTS FROM Donations and legacies 472,540 663,986 1,136,526 334,972 Charitable actlvltles Cafe & Bar Community Letting Artisti¢ programm¢ Other income 117,085 245,474 131.928 13,071 117,085 245,474 13l,928 13,071 130,521 189,074 87,200 14,853 Investmcnt ineome 378 Total 983 144 663 986 1647 130 756 998 EXPENDITURE O Raising ndS 35,715 35,715 24,183 Charltable acttvltles Cafc & Bar Community Letting Artistic programmo Building Overheads 300,615 367,949 188,644 189 300,615 367,949 693,503 189 297,764 161,861 314,422 504,859 Otber 575 Total 893112 1397 971 798 805 NET INCOMEI(EXPENDITURE) 90,032 159,127 249,159 (41.807) RECONCILIATION OF FUNDS TotAI funds brought forward 36,532 36,532 78,339 TOTAL FUNDS CARRIED FORIVARD 159 127 285 691 The notes fomi part of these fancial statements Page 14
STANLEY ARTS Balanee Sheet 31 Marcb 2024 2024 Total nds 2023 Tot41 funds UDreslricted fi]nd Restricted nds Notes FIXED ASSETS Tangible assets 852,854 852,854 967,850 CURRENT ASSETS Stocks Debtor5 Cash al bank and in hand 12 13 7,134 100,909 216 737 7,134 100,909 375 863 6,753 181,491 353,609 159 126 324.780 159.126 483,906 541,853 CREDITORS Amounts falling due within one year 14 (981,069) (981,069) (1,393,171) NET CURRENT ASSETS 656 289 159 126 497 163 851318 TOTAL ASSETS LESS CURRENT LIABILITIES 196,565 159,126 355,691 116,532 CREI DITORS Amounts falling due after more than one year 15 (70,000) (70,000) (80,000) NET ASSETSI(LIABILITIES) 126565 159 126 285 691 FUNDS Unrestricted funds Restricted fjjnds 17 126,565 J59 126 36.532 TOTAL FUNDS 285 691 The fanCIal statements were approvcd by the Board of Trustees and authorised for issue on q9..f1..2024......................... and were signed on its behalf by: A Andrade - Trustee The notes fonn part of these fmancial slatements Page 15
STANLEY ARTS Casb Flow Sthlement for the year ended 31 March 2024 2024 2023 Nol¢s Cash tlows from operatlng aetlvltles Cash generated from operations 729912 Net cash provided by operating activities 729 912 Cash flows from Investing actlvltles Purchase of tangible fixed assets Sale of tangible fixed assets Interest received (50,376) 1,236 (564.689) 378 Nel cash used in investing activities Cash flows from flnanclng actlvltles Loan repayments in year Nel cash {used in)Iprovided by fwancing activities ioooo) ChADge In easli and cash equlvAlents In tbe reportlng perlod Cash and cAsh equlvalents At th¢ beglnnlng ofthe reportlng perlod 22,254 165,602 353 609 188 007 Casb and cash equlvalents 8t the end or the reportliig perlod 375 863 The notes forn) part of these financial Statements Page 16
STANLEY ARTS Notes ¢0 the Cash Flow Slatement for the year ended 31 M4reh 2024 RECONCILIATIOIY OF NET INCOMEIIEXPENDITURE) TO NET CASH FLOIV FROM OPEIL4TING ACTivrrIES 2024 2023 Net incomel(eipendlture) for the repDrtiDg perlod {as per the Statement of Finanelal Acdvldes) Adjustments for: Depreciation charg¢s Loss on disposal of fixed assets Interest received Increase in stocks Decrease in deblors (D¢¢rease)lincrease in creditors 249,159 (41,807> 164.136 68,517 575 (378> (845) 248,254 455 596 (3,046) (381) 80,582 412 102 Net eash provlded by operatlons 729912 ANALYSIS OF CHANGES IN NET FUNDS At1.4.23 Cash flow At 31.3.24 Net casb Cash at bank find in hand 353 609 375 863 353 609 375 863 Debt Debis falling due within l year Debts falling du¢ after l year (10,000) (10,000) Total 263 609 295 863 The noles forni part of these financial slatements Page 17
srANLEY ARTS Notes to the FiDAncial Statements for the yeAr eDded 31 March 2024 ACCOUNTING POLICIES BASIS OF PREPAIiING THE FINANCIAL STATEMENTS The fman¢ial statelllents of the charity. wlii¢h is a publi¢ benefit etjtlty under FRS 102. have b¢en prepared in accordance with the Charities SORP (FRS 102) 'Ac¢ounting and Reporting by Charities: Statement of Recommended PrHCtice applicable to charities preparing their accounts in accordance with tbe Financial Reportin8 Standard applicable in the UK and Republic of Ireland (FRS 102) (effcclive l January 2019),, Financial Reporting Standard 102 'The Financt81 Reporting Standard applicable in the UK and Republic of Irel8nd' and th¢ Charities Act 2011. The finan¢ial slalements have been prepared under the hislorical cost convention. COME All income is recognised in the Stalement of Finaucial Activities once the charity hAS entitlemeot to the funds, it is probable that the income will be received and the amount can be measured reliably. EXPENDITURE Liabilities are recognised as expenditure as soon a5 there is a legal or constructive obligation committing the charity to that expendi¢uT¢, it is probabl¢ thAt a Ir8nsf¢r of economio benefits will be r¢quir¢d in s¢ttl¢m¢nt and the Amount of Ihe obligation can b¢ measured reliably. Bxpenditure is accounled for on an accruals basis and has been classified under headings Ih&l ¥ggregale all cost relaied lo the category. Where costs cannot be directly attributed to particular hcadings they havc been allocalcd to activities on a basis consislenl ivith the use of resources. TANGIBI.F FIXF,D ASSFTS D¢pr¢ciation is provided at the following annual rates in order to write off each asset over its estimated useful life. ImprovemeDls to propety Plant and machinery Fixtures and fittings 25Yo on cost 2nd 12.5tsh on cost 250/0 on cost 250/0 on cost All assets co$ling over £500 are ¢apilalis¢d. Tangible fixed assels are staled at o)st less deprecialion. STOCKS Stocks are valued at the lower of cost and net realisable value, afl¢r making due allowance for obsolete and sloiv moving items. TAXATION The ch&rity is exempt from tsx on its charitsble activities. FUND ACCOUNTING Unrestricted can be uscd in accordance with the cbaritable objective5 at Ihe discretion of the tSleeS. Restricted funds ¢an only be used for particular restricted puq)os¢s within the object8 of the charity. Reslrictions aris¢ when specified by the donor or wh¢n funds ar¢ raised for partIlaT restricted pu4)oses. Further explanation of the nalure and purpose ofeach fiu)d is iluded in ihe noles lo the financial slalements. PENSION COSTS AND OTHER POST-RETJREMENT BENEFITS Tlie charity operates a defined contribution pensioo Scheme. Contributions payable to the charity's pension scheme are chged to the Statement of Financial Activities in the period to whicll tbey relat¢. FINANCIAL INSTRUMENTS Th¢ group and par¢nt charity only have fmancial assets and fjnancial ]iabilities of a kind that qualify as basic rman¢ial instruments. Baslc flllancial instruments are initially recognised at transaction value and subsequently njeasured ai their s¢ttlement value. Page 18 continued...
STANLEY ARTS Notes to the Flllanelal Statements- conllnued for the year ended 31 Mareb 2024 ACCOUNTING POLICIES- eontlnued FINANCIAL INSTRUMENTS Debtors Trade and other debtors ate recogllised at the seltlem¢nt amount duc after any trade discount offered. Prepayments ar¢ valued at the amount prepaid after tsking accounl of any trade discounts due. Cash at bank alld In hAnd Cash at bank and IT) hand includes cash and short terni highly liquid inveslments with a short maturity of three months or les5 from the date of acquisition or opening of the deposit or similar account. Credltori and provlsloll8 Creditors and provision5 are recognised where the charity has a present obligktion resuliijg from a past ¢vent that will probably result in the transfer of fvnds lo a Ihird party and Ihe amount due to scttl¢ th¢ obligfttion can be measured or estimated r¢liably. Creditors and provisions arc nonnally recognised at their settlement amount after allowing for any trade discounts duc. DONATIONS AND LEGACIES 2024 2023 Don8tionB Grants AdmissioDS 5,835 4,184 2,416 328 372 1130 691 136 526 334 972 Grants rcceived, included in ih¢ above, are as follows: 2024 2023 Other grants INVESTMENT INCOME 2024 2023 Deposit account interest 378 Page 19 continued...
STANLEY ARTS Notes to the Flnaneial S¢a¢ement5 - continued for the year ended 31 March 2024 INCOME FROM CllARITABLE ACTIVITIES 2024 2023 Activity Cafe & Bar Community Letting Artistic programme Artistic progran]me Artislic programme other income Cafe & bar sales Lctling Incom¢ Perforn)once art events Theatre Tax relief Cinema income Other income 117,085 245,474 61,746 69,832 350 130,521 189,074 86,750 450 507 558 RAISING FUNDS RAISING DONATIONS AND LECACIES 2024 2023 Advertisin8 and markeling CHARITABLE ACTJVITIES COSTS Support Costs (sce nole 7) Direct Costs Totals Cafe & Bar Community Letting Artistic programme Building Overheads 82,941 153,806 294,681 217,674 214,143 398,822 189 300,615 367,949 693,503 J89 531428 830 828 1362 256 SUPPORT COSTS Governane costs Management Finance Totals Cafe & Bar Community I£tting Artistic programme Building Overheads 216.699 210,240 391,504 189 262 1,05l 1,971 713 2,852 5,347 217,674 214,143 398,822 189 818632 8.912 830 828 Page 20 continued...
STANLEY ARTS Notes to Ihe Flnan¢lAI Statemenls- contlnued for tbe year ended 31 March 2024 TRUSTEES, REMUNERATION AND BENEFITS There were no Iruslees, remuneration or other benefits for the year ended 31 Ma 2024 nor for the year ended 31 March 2023. TRUSTEESI EXPENSES There were no 31 March 2023. tTUStees' expenses paid for the year ended 31 March2024 nor for the year ended STAFF COSTS 2024 2023 Wages and 5alfiries Social security costs Other pension costs 485,316 39,851 303,903 24,313 333 022 The average monthly Dumber of employees during Ibe year was as follows: 2024 25 2023 20 Employees No employces received emolutllenls ill excess of £60,(0. The average number of full time equivalent number of employees was 16 (2023 - 11). io. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcfiviTIES Unrestricted nd Rcslricled funds Total fund5 INCOME AND ENDOWMENTS FROM Donalion8 and legacies 7.834 327,138 334,972 Cliarltable acdvltle5 Cafe & Bar Community Letting Artisttc progrdmme Other income 130,521 189,074 87,200 14,853 130,521 189,074 87,200 14.853 lllV¢$tment income 378 378 Total 327 138 756 998 EXPENDITURE ON Raising funds 19.197 4,986 24,183 Charltable Actl)4tles Cafe & Bar Commiiiiity Letting Artisti¢ programme 186,118 88,669 177.108 111.646 73,192 137,314 297,764 161,861 314,422 Other 575 575 Page 21 continued..,
Total 471,667 327,138 798,805 Page 21 continued..
STANLEY ARTS Notes to the Flnanclal StYdtements- conllnued for tbe year ended 31 March 2024 io. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcfIviTIES- condnued UnTCStricted Restricted fund fimds Totsl funds NET INCOMEI(EXPENDITURE) (41.807) (41,807) RECONCILIATION OF FUNDS Totsl funds brought forward 78.339 78,339 TOTAL FUNDS CARRIED FORWARD ii. TANGIBLE FIXED ASSETS Jmprov¢mwts lo property Fixlur¢s and fittings Plant and macbin¢ry Totals COST At l April 2023 Additions Disposals 882,049 16,778 236 169,558 16,654 70,245 16,944 1,121,852 50,376 At 31 Mah 2024 897 591 186 212 1 170 992 DEPRECIATION At l April 2023 Cbarg¢ for year 38,257 77,275 38,470 154,002 164 136 At 31 March 2024 130 538 141647 318 138 NET BOOK VALUE At 31 March 2024 767 053 852 854 Al 31 March 2023 843 792 967 850 12. STOCKS 2024 2023 Stocks Page 22 conttnued...
STANLEY ARTS Notes lo the FinAncial Statements- continued ror the year ended JI March 2024 13. DEBTORS: AMOUNTS FALLING DUE IVITHtN ONE YEAR 2024 2023 Trade debtors Other debtors Prepayments and accrued income 17,123 1,594 151,314 1,387 181491 14. CREDITORS: AMOUNTS FALLIIYG DUE WITHtN ONE YEAR 2024 2023 Trade creditors Taxation and social security Other creditors 23,703 11,228 946 138 159,456 8,032 1225 683 981069 1393 171 15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2024 2023 Other creditors 16. LOANS An analysis of the maturity of loans is given below: 2024 2023 Amounts falling due within one year on demand: Other loan5 Amounts falling beeen one and two years.. Other loans - 1-2 years Amounts falling due between hvo and five years: Other loans - 2-5 years Amounts falling due in more than five years: Repayable otherwise than by instalments: Other loans moTe 5yrs non-in5t Page 23 continued...
STANLEY ARTS Notej lo tbe Financial Statements - eontinued for the year ended 31 March 2024 17. MOVEMENT IN FUNDS Net movemenl in funds At 31.3.24 At 1.4.23 Unrestrlcted funds General fund 36,532 90,033 126,565 R¢strlcted funds Croydon Council National Lottery Heritag¢ Fund Paul Hamlyn Foundation GLA: Reivirc Youth Mental Health ACE.. LBOC Queer Arts Programme ACE.. Place Partnership 12,229 27,383 78,423 3.600 4,062 12,229 27,383 78,423 3.600 4.062 159 126 159 126 TOTAL FUNDS 249 159 285 691 Net movemenl in fund5, included in Ihe above are as follows: Incorning resou¢8 Resources expended Mov¢ment in fund$ Unre$trleted funds G¢neral fund 983,144 (893,111) 90,033 Restrl¢ted funds Historic En8laDd - Framing Croydoo Croydoll Council National Lottery Heritag¢ Fund Paul Hamlyn Troundation GLA: Rewire Youth Menthl Health HAZ Culture Programme ACE.. LBOC Queer Arts Programme ACE.. Place Partnersbip 34,261 45,768 142,001 171,300 61,000 54.559 56,101 (34,261) (33,539) (114,618) (92,877) (57,400) {54,559) (52,039) 12,229 27,383 78,423 3,600 4,062 663 986 504 860 159 126 TOTAL FUNDS 1647 130 1397 971) 249 159 Comparatlves for movement In funds Net movement in funds At 31.3.23 At 1.4.22 Unrestrleted lunds General nd 78,339 (41.807) 36,532 TOTAL FUNDS Page 24 continued...
STANLEY ARTS Notes to the Flnancial StYdtements- eolltlnued ror tbe year ended 31 March 2024 17. MOVEMENT rN FUNDS- contlnued Comparative net movement in fiulds, inGludcd in lh¢ above are as follows: Incoming resources Resources expended Movement in funds Unrestrleted funds G¢ner81 fund 429.860 (471.667) (41.807) Restrlcted fuDd$ Arts Council Architectural Heritsge Fund- Capital Development Grant Historic England- Framing Croydon Croydon Council Nftlional Lottery Heritage Fund Theatres Charitable Trust ndon Community Foundation 24,545 (24,545) 56,842 33,838 82,072 114,841 5,000 (56,842) (33.838) (82,072) (114,841) (5,000) io 000) 327 138 327 138 TOTAL FUMIS 756 998 798 805) 41807) 18. RELATED PARTY DISCLOSURES There were no related paty transactions for the year ¢nded 31 March 2024. Page 25