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2022-03-31-accounts

South East London Arts Network Limited Operating as

working creatively for a healthier happier community

ANNUAL REPORT AND ACCOUNTS

for April 2021 to March 2022

[for ANNUAL GENERAL MEETING on

Thursday 24[th] November 2022]

Company Number: 07897115 Charity Number: 1157803

SOUTH EAST LONDON ARTS NETWORK LIMITED TRUSTEES' REPORT for the year ended 31 March 2022

The Trustees, who are also directors of the Charity for the purposes of the Companies Act, and trustees for charity law purposes, submit their annual report and the accounts of South East London Arts Network Limited (Arts Network) for the year ended 31 March 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and accounts of the charity.

The accounts have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019.

AIMS OF THE CHARITY

The aims of the Charity as stated in the Articles of Association are:

Strategy For Achieving These Aims

  1. Arts Network’s main strategy is to provide a range of creative workshops and personal development opportunities for people with complex mental ill health. Members are encouraged to get involved at all levels of the organisation and take an active part in the Charity’s development. We also train members as facilitators and co facilitators. We organise and run several external workshops where members can facilitate or co-facilitate and share the skills they have learnt with members of the public.

  2. Arts Network actively works to fight against the stigma that exists around mental health. We achieve this in a number of ways, including exhibiting members’ work both in-house and in external exhibitions.

Exhibitions are not only a great way to showcase our members’ talents; they also provide opportunities for members to get involved with planning, preparation and delivery.

In addition, members are encouraged (but never pressured) to assist in the running of exhibitions, helping with things such as welcoming people, talking to them about Arts Network and about their work as well as showing visitors around.

Arts Network also actively works with “Time to Change, Time to Talk” campaigns as well as the Mental Health Foundation; organisations leading in the fight against stigma.

BACKGROUND

Arts Network was originally formed as Network Arts in 1996 as a pilot project.

In 2012, due to the restructuring of ‘Day Services’ by South London and Maudsley NHS Foundation Trust, Network Arts was decommissioned. That same year it was reconstituted as South East London Arts Network Ltd by two of the original staff.

It is now a Charity and a Company Limited by Guarantee.

Changes have been made to ensure that all Company and Charity documentation are under the company name South East London Arts Network Limited (SELAN).

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SOUTH EAST LONDON ARTS NETWORK LIMITED TRUSTEES' REPORT for the year ended 31 March 2022

Arts Network is a Community Arts Charity for those who with complex mental ill health and live in Southeast London

Arts Network provides an alternative approach to healthcare for those whose lives are severely impacted directly by their mental ill health.

Arts Network takes a holistic approach in the services it offers and provides an environment that facilitates the development of people in a positive and creative way.

Arts Network has provided supported, structured activities in a safe and welcoming environment where each member can develop at their own pace.

With on-going and continued support, members are encouraged to promote and develop their work and skills through organised exhibitions, internal and external public workshops.

These public exhibitions and workshops help to promote a better understanding of mental health issues.

EXISTING BOARD

The board currently consists of 5 elected Director/Trustees and a Secretary.

Active Trustees

All trustees are unpaid volunteers

Other professional bodies associated with the Charity:

Accountant:

Simon Erskine FCA FCIE DChA 61 Mortimer Road London NW10 5QR

STAFF

All regular sessional staff are qualified in their field, and most have lived experience of mental ill health. All staff and volunteers are DBS certificated.

Staff and working times from April 2021- March 2022

Coming out of lockdown saw considerable changes to our staff team:

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SOUTH EAST LONDON ARTS NETWORK LIMITED TRUSTEES' REPORT for the year ended 31 March 2022

SUCCESSION PLANNING FOR CEO

The process for Mo Saunders’s retirement from Arts Network will be a gradual process, with an annual reduction in days from September 2021.

September 2021 3 days a week September 2022 2 days a week September 2023 1 day a week

Over the last two years Mo has been handing over work to the senior management team. Mo has also been working with facilitators to build on their creative crafts skills. The Board will be carrying out a review of the senior management team for Mo’s final departure September 2024.

GOVERNANCE AND MANAGEMENT STRUCTURE

The Arts Network Board of Trustees is responsible for setting the strategy, direction and management of the Charity.

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SOUTH EAST LONDON ARTS NETWORK LIMITED TRUSTEES' REPORT for the year ended 31 March 2022

At the first meeting following this AGM the elected board members will be asked to nominate a Chair, Treasurer and Secretary thus maintaining a link between the Board and the day-to-day running of the Charity. There is also a members’ forum consisting of a member Trustee and any Arts Network members who wish to be involved. This is designed so there is a strong link between the membership and the Board.

It is hoped that the Board will consist of trustees with different skills and from various walks of life, including those with relevant experience in mental health, accounting, law, marketing and publicity, a carer an artist and at least one member from the Arts Network membership.

The governing document is the memorandum and articles of association. The Arts Network is incorporated as a company limited by guarantee. New trustees are appointed following a recruitment process designed to appoint people who are interested in the work of the charity and have skills and expertise needed by the charity.

POLICIES

The following policies have been updated and are ready for the Trustees to agree and sign off at this AGM meeting. These were sent to all the Trustees two weeks prior to the AGM meeting to review. These included:

Health and Safety Accident Reporting policy (RIDDOR) Asbestos policy Display screen equipment policy (includes risk assessment) First aid policy Health and safety policy Manual handling policy (includes risk assessment) Working from a height policy (includes risk assessment)

Finance

Anti-bribery and Corruption policy Recruitment and Remuneration policy

Safeguarding Safeguarding policy Stress policy

Other

Conflict of interest policy Email and social media policy

FINANCIAL REVIEW

Details of the income and expenditure for the year are given in the Statement of Financial Activities on page 13 and the Balance Sheet is set out on page 14. Free reserves at the end of the year amounted to £54,970 which is in accordance with the reserves policy which calls for them to amount to 25% of running costs – i.e. approximately £50,000. The purpose of reserves is to pay redundancy costs if this becomes necessary; to pay for running costs during the wind-up period; and to cover unforeseen or unexpected costs.

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SOUTH EAST LONDON ARTS NETWORK LIMITED TRUSTEES' REPORT for the year ended 31 March 2022

CORE PROGRAMME

Arts Network continues to provide a range of creative workshops at our friendly base at 8-12 Eltham Road in Lee Green.

Members are encouraged to contribute to the development and delivery of these activities by: -suggesting ideas for workshops, co facilitating, facilitating, contributing at Snack and Chat meetings held every second month. This is where members come together to talk and suggest workshops, outings and visits. There is also a members’ forum where members that are interested in the management of the charity can get more involved and be a link between the members and the Board.

1. CORE PROGRAMME APRIL 2021 – MARCH 2022

April – June as we were coming out of lockdown, we started planning our return to the AN base. We had also made a successful bid to the Maudsley Charity to run workshops in Lambeth and Southwark, so the plans were also put in place to recruit 2 new workroom facilitators. We continued to produce and delivered the Stay Connected magazine through the year, which totalled 15,000 copies.

The publication was started in March 2020 in an effort to reach the 33 members who were unable to engage with Arts Network online. The publication includes articles on artists; in focus section on an Arts Network artist; craft activities; puzzles, features on other local community resources, and information on where to go for support. With people returning after lockdown the as of March 2022, the publication now has a circulation of 995 each month and is distributed to all members as well as, local care providers including South London and Maudsley NHS Trust who distribute it to their wards. Their OT departments also use it as a teaching aid on wards and in clinics.

Delivering live online workshops

We continued to deliver online workshops and ran between 4-6 online sessions a week. This is partly as a result of continued nervousness by some members to return to the physical workspace due to Covid-19 but also for people fearful of travelling on public transport. We have also had to reduce spaces in the workshops, so people remain safely distance.

Producing tutorial videos

During the pandemic we produced numerous film tutorials that acted as companion aids to activities in the Stay Connected publication and are still available via our YouTube Channel, Instagram, and the Arts Network website.

Newsletters

We produced a monthly e-newsletter, which is circulated to subscribers. The newsletter provides information and updates on activities and links to the Stay Connected programme. All members received a newsletter by post informing them of outing, workshops, projects, online workshops and updates.

Outside Workshops / Walking Tours

When the Covid-19 restrictions were eased we ran workshops outside and walking tours. These sessions allowed members to meet face to face and undertake in person creative activities.

These activities included a visit to Kew Gardens for a nature-based workshop. We also partnered with Thames 21 who facilitated wadding walks in the river Ravensbourne.

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SOUTH EAST LONDON ARTS NETWORK LIMITED TRUSTEES' REPORT for the year ended 31 March 2022

2.1 OUTPUTS 2021-2022

Planned Achieved Variance
Videos tutorials (zoom Workshops) (1)
Funded byIgen and unrestricted funds		 12 85 +73
Production and delivery of Stay Connected (went to every second month
from January 2022
Funded byunrestricted funds		 12 11 -1
Number of Stay Connected produced each month
Funded by unrestricted funds		 2,000 1250 -750
New Members taking part in the project
(People who have come through a referral process)
Funded byIgen,CityBridge and MaudsleyCharity		 60 80 + 20
Total No. of People engaging with Arts Network activities / workshops/
events / social media / Stay Connected (beneficiaries).
Funded byIgen, Pegasus and Lottery (2)		 4500 4419 -81
New Partnerships developed with outside artists and key organisations
this year
Funded byIgen and Lottery		 6 12 +6
Members taking part in regular creative workshops each year (individual
people)
Funded byCityBridge and Lottery		 200 331 +131
Artists in the co-operative sharing their skills with
members each year
Funded byLottery		 8 2 -6
Members trained as co-facilitators / facilitators
(Involved in workshops /exhibition & outreach work with the wider com-
munity each year)
Funded byIgen, Lotteryand Maudsley		 24 12 -12
Members entering education, employment, training or volunteering each
year
Funded byCityBridge and Lottery		 12 24 +12
Number of operational days per week
CityBridge* increasingto 5 days		 4 4 -
Number of presentations with mental health teams and mental health
providers
Funded byCityBridge		 10 6 -4
External workshops per year for Lambeth and Southward locations) Fund-
ed byMaudsleyand unrestricted funds(3)		 24 10 -14
E-newsletters to the public
Funded byunrestricted funds		 12 12
Members involved in outreach work (members co-facilitating workshops.
Funded by Igen, Lottery and unrestricted funds		 24 5 -19
Micro Network Members
Funded byunrestricted funds		 15 15
Micro Network Meetings per year
Funded byunrestricted funds		 3 2 -1
Annual Evaluation Report
Funded byIgen and unrestricted funds		 1 1 1

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SOUTH EAST LONDON ARTS NETWORK LIMITED TRUSTEES' REPORT for the year ended 31 March 2022

Notes

  1. Due to the project reopening in September 21, it was decided our YouTube tutorials would be run as online workshops.

  2. We engage with individuals and organisations through various social media platforms. It should be noted that beneficiaries may hold multiple social media accounts.

  3. There was a delay in starting this project due to covid.

Unrestricted funders included Drapers Trust and Garfield Weston.

2.3 PARTNERSHIP DEVELOPMENT

• National Network

At the start of pandemic, we established a national network to exchange thoughts of ways of working and best practice. The group also noticed a lack of diversity within the sector and Arts Network has led the way on producing and managing an inclusion training programme.

Meeting take place on a quarterly basis with the next meeting scheduled for June 2022, potentially in person Members of the National Network can be found on our website: https://artsnetwork.org.uk/wp/national-network/

• Converge, York St John University.

Our yearly evaluation is conducted by CERT, a group of researchers from York St John who have lived experience of mental ill health. This is our third year of a five-year study part funded by the IGEN Trust.

• Local Partnerships

We continue to work with the following organisations on Community Involvement Programs. Designing and delivering workshops or being involved in events, exhibitions and visits.

• Kew Gardens We are part of the Community access scheme an annual membership with free entry fees to the park. We visit the gardens twice a year and in previous years have run workshops with Kew Gardens community engagement team.

• SLaM Volunteers Service Arts Network sits on the South London and Maudsley volunteer consortium (VolCo). This group meets every 3-4 months to share best practise and discuss further opportunities for volunteers.

• Horniman Objects in Focus An Arts Council funded project. Arts Network receives a loaned object from the Horniman. These are little know objects and come from their archives. We are now on our fourth loan we continue to develop this partnership with the Horniiman.

• Community links Forum An online meeting of health professionals, service users, carers, community organisations in Lewisham. Arts Network gives project updates at monthly online meetings. The forum keeps us informed of any changes to local services.

Worked in partnership to process referrals for the Thriving Communities workshops aimed at individuals who are not receiving support for their mental health needs through health services, a small number of referrals would be considered social prescribing.

We are offered gallery visits coupled with workshops run by the Queens Gallery facilitators.

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SOUTH EAST LONDON ARTS NETWORK LIMITED TRUSTEES' REPORT for the year ended 31 March 2022

We worked in partnership with Thames 21 who ran wadding walks as we were coming out of lockdown. Small groups of members visited local rivers for ‘walks and wades’ sessions. The project educated members on the geography of our local waterways and resident wildlife, including eels which have recently been re-introduced.

• The Art Academy We are talking with the Art Academy about accessing a space located near London Bridge in Southwark to deliver weekly workshops. These will be starting next year as part of our developing our service in Lambeth and Southwark.

Arts Network facilitated the delivery of crafting activities, made by Make Mee, to members during lockdown.

Specialist Workshops

These workshops are structured workshops and run for 6 – 12 weeks, members pay between £5 – £10 donation to attend. Some of these workshops are facilitated and co-facilitated by AN members. These workshops are suggested by members at the members meeting (Snack n’ Chat) which is held every second month.

1.6. Social Media

We continue to post to social media platforms regularly during the week, posting workshops on YouTube, IGTV and our e-newsletter is now sent out twice a month through MailChimp.

Twitter: @ArtsNetworkLDN Instagram: @ ArtsNetworkLDN Facebook: @selanuk Youtube: Arts Network (info.artsnetwork@gmail.com) Mailchimp: See links through social media accounts

Where possible, Arts Network works in partnership to deliver projects and workshops.

In 2021– 2022 Arts Network work with the following organisations: *

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SOUTH EAST LONDON ARTS NETWORK LIMITED TRUSTEES' REPORT for the year ended 31 March 2022

*This list does not include partnerships relating to referrals

Future Plans for 2022 - 2023

Future Plans and Ambitions

Arts Network’s funding situation is currently secure, which means we can plan in a way which we have previously not been able to do.

Arts Network have been offered a new purpose built premises in Southwark which we hope will be completed in 2024 early 2025. The benefits include not paying rent for 10 years. The site is part of a hotel complex and will act as the Head Quarters for Arts Network. It is adjacent to a park which we plan to utilise for workshops. It also has excellent transport links, separate entrance with lift access and access to local amenities. Plans for our space on the site includes:

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SOUTH EAST LONDON ARTS NETWORK LIMITED TRUSTEES' REPORT for the year ended 31 March 2022

Service Delivery and Development 2022 – 2023

OUTPUTS LINK TO FUNDING PLANNED
Videos tutorials (zoom Workshops)
Funded byIgen and unrestricted funds		 12
Production and delivery of Stay Connected
Funded byunrestricted funds		 6
Number of Stay Connected produced each month
Funded byunrestricted funds		 2,000
New Members taking part in the project
(People who have come through a referral process)
Funded byIgen,CityBridge and MaudsleyCharity		 60
Total No. of People engaging with Arts Network activities – workshops / events / social media
/ Stay Connected (beneficiaries).
Funded by Igen, Pegasus and Lottery		 4500
New Partnerships developed with outside artists and key organisations this year
Funded byIgen and Lottery		 6
Members taking part in regular creative workshops each year (individual people)
Funded by City Bridge and Lottery		 200
Artists in the co-operative sharing their skills with
members each year
Funded byLottery		 8
Members trained as co-facilitators / facilitators
(Involved in workshops /exhibition & outreach work with the wider community each year)
Funded by Igen, Lottery and Maudsley		 24
Members entering education, employment, training or volunteering each year
Funded by City Bridge and Lottery		 12
Number of operational days per week
CityBridge* increasingto 5 days		 4
Number of presentations with mental health teams and mental health providers
Funded by City Bridge		 10
External workshops per year for Lambeth and Southward locations
Funded by Maudsley and unrestricted funds		 24
E-newsletters to the public
Funded byunrestricted funds		 12
Members involved in outreach work (members co-facilitating workshops.
Funded by Igen, Lottery and unrestricted fund		 24
Micro Network Members
Funded byunrestricted funds		 15
Micro Network Meetings per year
Funded by unrestricted funds		 3
Annual Evaluation Report
Funded byIgen and unrestricted funds		 1

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SOUTH EAST LONDON ARTS NETWORK LIMITED TRUSTEES' REPORT for the year ended 31 March 2022

Funding secure and planned for APRIL 2022 – MARCH 2023
Funder Funding Amount and Term
Igen Trust £34,220.00 PA Final year, funding is dependent on submission of
reports and CERT yearly evaluation.
Big Lottery, Reaching Communi-
ties		 £50,000.00 PA Ending early 2023 – We have been asked by the Lottery to
submit a further bid.
City Bridge Trust £41,100.00 PA 1 years funding remaining. Development of core activities.
Garfield Weston £10,000.00 Ending 2022. Development of core activities.
Drapers £10,000.00 Ending 2022. Development of core activities.
Peabody Trust £10,000.00 £20,000 over 2 years. Run workshops at Darwin Court in
Southwark. Successful - Starting 2023
Co Op Studio Hire £8,000.00
Planned Fund-
ing
2022-2023		 Applications in progress
Big Lottery, Reaching Communi-
ties		 £300,000 £60k per annum over 5 years. Core funding for develop-
ment and service delivery.
Pegasus £90,000 £90,000 over 3 years. For development and increasing
staffing levels.
Henry Smith £103,669 Over 3 years, Core funding, service delivery and develop-
ment.
Maudsley Charity Funding call opens in June 2023. We will apply if we fit
their criteria.

Independent examiner

The independent examiner, Simon Erskine FCA FCIE DChA, has indicated his willingness to accept re-appointment.

Preparation of the report

This report has been prepared taking advantage of the small companies exemption of section 415A of the Companies Act 2006.

This report was approved and authorised for issue by the Trustees on 24 November 2022 and signed on their behalf by:

Will Nicholson Chair

11

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SOUTH EAST LONDON ARTS NETWORK LIMITED

I report to the charity trustees on my examination of the accounts of South East London Arts Network Limited for the year ended 31 March 2022 which are set out on pages 13 to 22.

This report is made solely to the Trustees, as a body, in accordance with regulations made under section 154 of the Charities Act 2011. My work has been undertaken so that I might state to the Trustees matters I am required to state to them in an Independent Examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Trustees for my independent examination work, for this report, or for the statement I have given below.

Responsibilities and basis of report

As the charity trustees of the company (and also its directors for the purposes of company 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’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

Simon Erskine FCA FCIE DChA

61 Mortimer Road London NW10 5QR

24 November 2022

12

SOUTH EAST LONDON ARTS NETWORK LIMITED

STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2022

Unrestricted
Funds
Note
2022
£
INCOME FROM:
Grants and donations
2
23,551
Hire of studio space
9,415
Workshops
-
Other income
177
Sales
289
Bank interest
-
TOTAL
33,432
EXPENDITURE ON:
Staff costs
3
26,724
Freelance contractors
-
Support costs
4
15,296
Training
-
Events / Exhibitions
-
Project costs:
Stay Connected
-
Centre 70
-
Lewisham and Southwark Outreach
-
Sundry expenses
-
TOTAL
42,020
(8,588)
RECONCILIATION OF FUNDS:
TOTAL FUNDS BROUGHT FORWARD
75,558
TOTAL FUNDS CARRIED FORWARD
66,970
£
Net income/(expenditure)		 Restricted
Funds
2022
£
157,794
-
-
-
-
-
157,794
112,110
36,531
-
2,252
70
-
5,461
795
216
359
157,794
-
13,118
13,118
**£ **		 Total
Funds
2022
£
181,345
9,415
-
177
289
-		 Total
Funds
2021
£
183,921
8,415
300
-
62
15
191,226 192,713
138,834
36,531
15,296
2,252
70
5,461
795
216
359		 104,351
17,275
9,898
131
-
6,495
2,120
-
444
199,814 140,714
(8,588)
88,676		 51,999
36,677
80,088
**£ **		 88,676
_£ _

NOTE ON COMPARATIVES

An analysis of the comparatives between restricted and unrestricted funds are given in Note 13 on page 22. See that note for information about the brought forward split of Funds as above, and the disclosure of more detailed expenditure, in the current and prior year, than was shown in the 2021 accounts.

The annexed notes form part of these financial statements

13

SOUTH EAST LONDON ARTS NETWORK LIMITED (company limited by guarantee reg. no. 07897115)

BALANCE SHEET As at 31 March 2022

Notes
FIXED ASSETS
Tangible assets
6
CURRENT ASSETS
Debtors
7
Cash at bank and in hand
Deposit account
CREDITORS: amounts falling due
within one year
8
NET CURRENT ASSETS
NET ASSETS
FUNDS
Restricted funds
9
Unrestricted funds:
Designated property fund
9
General fund
9		 2022
£
£
9,522
1,215
51,635
40,018
92,868
(22,302)
70,566
80,088
£
13,118
12,000
54,970
66,970
80,088
**£ **		 £
-
53,661
35,015		 2021
£
-
88,676
88,676
-
12,000
54,970		 -
75,558
88,676
_£ _
13,118
75,558
88,676
_£ _

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

For the year ending 31 March 2022 the Charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

(i) The members have not required the Charity to obtain an audit of its accounts for the year in question in accordance with section 476;

(ii) The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The financial statements were approved, and authorised for issue, by the Trustees on 24 November 2022 and signed on their behalf by:-

WILL NICHOLSON, Chair

The annexed notes form part of these financial statements

14

SOUTH EAST LONDON ARTS NETWORK LIMITED

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022

1. ACCOUNTING POLICIES

(a) General information and basis of preparation of financial statements

South East London Arts Network Limited is a charitable company limited by guarantee registered in England; its registered office is as shown on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity.

The charity constitutes a public benefit entity as defined by the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 (SORP 2019), FRS 102, the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2019.

The financial statements are prepared on a going concern basis under the historical cost convention.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

(b) Fund accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

(c) Income recognition

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

No amount is included in the financial statements for volunteer time in line with the SORP 2019.

The charity receives government grants from the London Borough of Lewisham to help with its work. Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.

15

SOUTH EAST LONDON ARTS NETWORK LIMITED

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022

(d) Expenditure recognition

All expenditure is accounted for on an accruals basis and is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as an expense against the expenditure heading for which expenditure arose.

(e) Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.

(s) Leases

Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term

Rentals payable and receivable under operating leases are charged to the SoFA on a straight line basis

(u) Employee benefits

The charity operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

(v) Tax

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

(w) Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

(x) Judgements and key sources of estimation uncertainty

No judgements (apart from those involving estimates) have been made in the process of applying the above accounting policies and there are no key sources of estimation uncertainty.

16

SOUTH EAST LONDON ARTS NETWORK LIMITED

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022

2.
INCOME FROM DONATIONS AND GRANTS
Unrestricted
Funds
2022
2022
£
Pegasus
-
IGEN Trust
-
The National Lottery Community Fund
-
Maudsley Charity
-
City Bridge Trust
-
-
Drapers Charitable Fund
10,000
Baring Foundation
-
Garfield Weston Foundation
10,000
London Community Response Fund
-
Sundry donations
3,551
23,551
£
2021
Pegasus
-
IGEN Trust
-
The National Lottery Community Fund
-
Maudsley Charity
-
-
25,000
-
12,000
10,000
-
994
47,994
£
3.
STAFF NUMBERS AND COSTS
Wages and salaries
Social security costs - current year
Social security costs - under-payment from prior years
Pension costs
City Bridge Trust
London Borough of
Lewisham and Micro Bid
Drapers Charitable Fund
Baring Foundation
Garfield Weston Foundation
London Community Response Fund
Sundry donations
London Borough of
Lewisham and Micro Bid		 Restricted
Funds
2022
£
20,000
34,220
50,000
12,474
41,100
-
-
-
-
-
-
157,794
£
24,774
35,220
50,000
6,237
-
1,000
-
-
-
18,696
-
135,927
_£ _		 Total
Funds
2022
£
20,000
34,220
50,000
12,474
41,100
-
10,000
-
10,000
-
3,551
181,345
£
24,774
35,220
50,000
6,237
-
26,000
-
12,000
10,000
18,696
994
183,921
£
2022
£
123,935
5,382
7,729
1,788
138,834
**£ **		 Total
Funds
2021
£
24,774
35,220
50,000
6,237
-
26,000
-
12,000
10,000
18,696
994
183,921
_£ _
2021
£
98,962
4,045
-
1,344
104,351
_£ _

The average weekly number of employees during the period was 7.1 (2021 - 5.3).

No employee received remuneration of more than £60,000.

17

SOUTH EAST LONDON ARTS NETWORK LIMITED

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022

4.
SUPPORT COSTS
Property service charges
Business rates
Equipment depreciation
Fees payable to independent examiner
Accountancy and payroll fees
Insurance
Building costs (fire and alarm)
Utilities (gas, elec & water)
Telephone / internet / mobile
Sundry expenses
Petty cash spending		 2022
£
3,480
889
2,381
1,280
888
536
1,440
3,108
748
546
-
15,296
**£ **		 2021
£
6,899
-
-
400
324
357
640
-
866
212
200
9,898
_£ _

5. TRUSTEES, KEY MANAGEMENT PERSONNEL AND RELATED PARTY TRANSACTIONS

During the year, no Trustees received any remuneration or reimbursed expenses (2021 - the same).

As well as the Trustees, the Charity's key management personnel comprise the Strategic Director, a freelance consultant who was paid fees of £15,691 (2021 - £14,875), and the Chief Executive, Operations Manager and maternity cover for the latter; these senior staff received employment benefits of £73,549 (2021 - £53,098).

There were no other related party transactions.

6. TANGIBLE FIXED ASSETS

Cost
Additions
Depreciation
Charge for the year
At 31 March 2022
Net book value
At 31 March 2021
At 31 March 2022		 Equipment
£
11,903
2,381
2,381
Nil
£
9,522
**£ **

18

SOUTH EAST LONDON ARTS NETWORK LIMITED

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022

7.
DEBTORS
Due within one year
Prepayments
8.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
Other creditors
Accruals
Pension contributions payable		 2022
£
1,215
2022
£
1,530
478
1,419
10,532
8,343
22,302
**£ **		 2021
£
-
2021
£
-
-
-
-
-
Nil
£

9. STATEMENT OF FUNDS

Following a review of the 2020/1 restricted funds the split in total amounts for the restricted funds and General fund for both the current and prior year have been changed to figures which the Trustees believe are more accurate. Movement on restricted funds were not shown in the 2021 statutory accounts and they have now been included for both the current and prior year.

2022
RESTRICTED FUNDS
Pegasus
IGEN Trust
The National Lottery
Community Fund
Maudsley Charity
City Bridge Trust		 Brought
Forward
£
10,000
-
-
3,118
-
13,118
**£ **		 Incoming
Resources
£
20,000
34,220
50,000
12,474
41,100
157,794
**£ **		 Resources
Expended
£
(20,000)
(34,220)
(50,000)
(12,474)
(41,100)
(157,794)
£		 Transfers
£
-
-
-
-
-
Nil
£		 Carried
Forward
£
10,000
-
-
3,118
-
13,118
**£ **

The grant from Pegasus was given towards the cost of two salaries, the Stay Connected project and associated running costs.

The grant from IGEN Trust was given towards the cost of two salaries, three workroom facilitators and associated running costs.

The grant from the National Lottery was given towards the cost of four senior management posts and associated running costs.

The grant from Maudsley was given towards the cost of one salary, two workroom facilitators and volunteer costs. They also contribute to the setting up and running costs for workshops in Lambeth and Southwark.

19

SOUTH EAST LONDON ARTS NETWORK LIMITED

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022

The grant from City Bride Trust was given towards the cost of one salary and three workroom facilitators.

facilitators.
SUMMARY OF FUNDS
Designated property fund
General fund
Restricted funds		 Brought
Forward
£
-
75,558
75,558
13,118
88,676
**£ **		 Incoming
Resources
£
-
33,432
33,432
157,794
191,226
**£ **		 Resources
Expended
£
-
(42,020)
(42,020)
(157,794)
(199,814)
£		 Transfers
£
12,000
(12,000)
-
-
Nil
£		 Carried
Forward
£
12,000
54,970
66,970
13,118
80,088
**£ **

The Charity's property is due for redevelopment and the lease can be terminated at 6 months' notice. The purpose of the designated property fund is to cover the costs in seeking new premises and any other related costs.

other related costs.
2021
RESTRICTED FUNDS
Pegasus
IGEN Trust
The National Lottery
Community Fund
Maudsley Charity
London Borough of
Lewisham and Micro Bid
London Community
Response Fund		 Brought
Forward
£
10,000
-
-
-
-
-
10,000
_£ _		 Incoming
Resources
£
24,774
35,220
50,000
6,237
1,000
18,696
135,927
_£ _		 Resources
Expended
£
(24,774)
(35,220)
(50,000)
(3,119)
(1,000)
(18,696)
(132,809)
£		 Transfers
£
-
-
-
-
-
-
Nil
£		 Carried
Forward
£
10,000
-
-
3,118
-
-
13,118
_£ _

The purpose of all the grants were as for 2022 except for the London Community Response funding which was given in response to Covid. It was used to take the service online and funded the Stay Connected Program.

SUMMARY OF FUNDS
General fund
Restricted funds		 26,677
10,000
36,677
_£ _		 56,786
135,927
192,713
_£ _		 (7,905)
(132,809)
(140,714)
£		 -
-
Nil
£		 75,558
13,118
88,676
_£ _

20

SOUTH EAST LONDON ARTS NETWORK LIMITED

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022

10. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted Funds
Designated
General
2022
fund
fund
£
£
Tangible fixed assets
-
9,522
Net current assets
12,000
45,448
12,000
£
54,970
£
Unrestricted Funds
Designated
General
2021
fund
fund
£
£
Net current assets
-
75,558
Nil
£
75,558
£
OTHER FINANCIAL COMMITMENTS
Not later than one year
Total future minimum lease payments under non-cancellable operating
leases for each of the following periods are as follows:		 Restricted
funds
£
-
13,118
13,118
£
Restricted
funds
£
13,118
13,118
£
2022
£
3,192		 Total
Funds
£
9,522
70,566
80,088
**£ **
Total
Funds
£
88,676
88,676
_£ _
2021
£
-

11. OTHER FINANCIAL COMMITMENTS

12. CONTINGENT LIABILITIES

The Charity believes that it has been over-charged £9,000 on its power bills and has deducted this sum from the amount owing to the company concerned. The amount which the Charity believes is due has been accrued in the accounts.

21

SOUTH EAST LONDON ARTS NETWORK LIMITED

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022

13. COMPARATIVE SOFA FOR THE YEAR ENDED 31 MARCH 2021
Unrestricted
Restricted
Funds
Funds
2021
2021
£
£
INCOME FROM:
Grants and donations
2
47,994
135,927
Hire of studio space
8,415
-
Workshops
300
-
Sales
62
-
Bank interest
15
-
TOTAL
56,786
135,927
EXPENDITURE ON:
Staff costs
3
7,905
96,446
Freelance contractors
-
17,275
Support costs
4
-
9,898
Training
-
131
Project costs:
Stay Connected
-
6,495
Centre 70
-
2,120
Lewisham and Southwark Outreach
-
-
Sundry expenses
-
444
TOTAL
7,905
132,809
48,881
3,118
RECONCILIATION OF FUNDS:
TOTAL FUNDS BROUGHT FORWARD
26,677
10,000
TOTAL FUNDS CARRIED FORWARD
75,558
£
13,118
£
Net income/(expenditure)		 Total
Funds
2021
£
183,921
8,415
300
62
15
192,713
104,351
17,275
9,898
131
6,495
2,120
-
444
140,714
51,999
36,677
88,676
_£ _

NOTE

In the 2021 statutory accounts Hire of studio space was included as part of Grants and donations; this year they have been shown separately. The Trustees consider that it is more helpful to have the above detail of expenditure and have therefore re-stated the comparatives shown above accordingly.

As explained in Note 9 the split of the brought forward balances between Restricted funds and the General fund have been changed for the current and prior year.

22