The Archibald Corbett Community Library, Arts and Heritage Centre Report and Accounts for the year ended 30[th] September 2022 Charity name: The Archibald Corbett Community Library, Arts and Heritage Centre Charity registration number: 1171748
Company number: 10405126
THE ARCHIBALD CORBETT COMMUNITY LIBRARY ARTS AND HERITAGE CENTRE REPORT AND ACCOUNTS FOR THE YEAR ENDED 30[TH] SEPTEMBER 2022
Objectives and activities
| Summary of the purposes of the charity as set out in its governing document |
1. The provision of a public library in the London borough of Lewisham 2. To promote for the benefit of the residents of the London borough of Lewisham the provision of a public library for recreation and or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving the condition of life of the said residents 3. To advance the education of the public in the London borough of Lewisham by operating and managing a lending library and advancing education in local history and heritage and the legacy of Archibald Corbett. 4. To advance the arts by the provision of public art displays. |
| Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. |
The Archibald Corbett Community Library, Arts and Heritage Centre trading as The Corbett Community Centre was set up as a community business and started trading at the end of October 2016 to manage the previous Torridon Road Library and Children’s Centre buildings previously managed by Lewisham Council. In the financial year ending September 2022 it continued to deliver activities and services to meet the needs of the local community as identified by the charity’s four objectives. It has developed over 20 activities a week, with the majority delivered by volunteers, for parents and children aged 0 to 5, primary school aged children, secondary school children, families and for older people as well as delivering a library service. Activities include: • Story Time, Singing group and craft session, all for parents and children under 5 and Pilates for mums and babies. • A homework club for primary and secondary school children • Community Yoga, Hatha Yoga, Qigong, and Gentle Seated yoga for all ages • Writers group, meditation for adults, knit ‘n’ natter and dementia friendly activities for older people • Developing and delivering activities specifically in response to local residents’ needs such as Employability and Job Support sessions and Tea and Tech to address the digital movement • Continuing to work in partnership with Lewisham Libraries Division to deliver national reading promotions to include the Summer Reading Challenge and working with two local Primary Schools delivering reading sessions to year groups • Acting as a centre for local groups to hold meetings and activities, including Slimming World, The Village London (a parent support hub) and Councillors Surgery The centre also continues to offer three ESOL classes each week and two Online Support Services sessions to help residents fill in council and government forms online plus general drop in advice sessions. |
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THE ARCHIBALD CORBETT COMMUNITY LIBRARY ARTS AND HERITAGE CENTRE REPORT AND ACCOUNTS FOR THE YEAR ENDED 30[TH] SEPTEMBER 2022
| The majority of activities are run by volunteers, under the supervision of two employed managers, and are free or at a reduced fee to ensure inclusivity for those unable to afford making payments to attend. In return it asks for donations from those able to donate. In addition to donations for activities, the charity derives income from sales of donated second-hand books, photocopying and printing services, the hire of a main meeting room, small meeting room, donations from events and from individual donors which are eligible for the Gift Aid scheme. |
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| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit |
The Trustees of the Archibald Corbett Community Library, Arts and Heritage Centre hereby confirm that they have taken full regard of the guidance on public benefit issued by the Charity Commission when exercising any powers or duties to which the guidance is relevant. In particular, the Trustees believe that the list of activities detailed above show complete accordance and compliance with such guidance and are all examples of furthering the charity’s purpose (as defined in the objects described above) for the public benefit. |
| Contribution made by volunteers |
The Library, the Children’s Centre and the majority of activities are run by over 40 volunteers a week and the average number of volunteer hours per month is around 540. The charity provides comprehensive training on all aspects of Library systems and management and continues with an active recruitment programme to enlist additional volunteers |
| Policy on grant making |
The Charity has no policy on grant making as this does not form part of its current or planned future activity. |
Achievements and performance
| Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. |
Achievements and Performance in FY 2021/2022 The centre has now been fully developed as an essential community hub for the 20,000 residents on the Corbett Estate, Catford South ward and Hither Green. A five year business plan has been produced to ensure long term sustainability of the project. The following funding was secured in FY 2021/22: • £34,525 from the Lottery Community Fund, as the final instalment of the £210,000 three year grant which commenced in May 2019. • £1,815 from the Co-Op Local Community Scheme. • £4,000 from Lewisham Council under the government Covid-19 support grants. • £1,250 from Lewisham Council to support Creative Change and Black History Month The library has provided a space for regular markets to allow local artists and food preparers to promote and sell their products and provided a venue for Catford Arts Trail. • Other events included a Musicals Night, featuring local amateur group ArtForm, Wreath Making Night, Ring Making Night, Quiz nights and weekly life drawing classes. • The ‘Management of Public Spaces’ training programme was completed, for volunteers and long term unemployed people, as part of the National Lottery Community Fund grant programme. We ran three cohorts during the year for a total of 27 attendees. |
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THE ARCHIBALD CORBETT COMMUNITY LIBRARY ARTS AND HERITAGE CENTRE REPORT AND ACCOUNTS FOR THE YEAR ENDED 30[TH] SEPTEMBER 2022
| • Financial trading sustainability was maintained in the year through continued hiring out of the playroom to Saplings, a Breakfast and After School Club, and the first floor office space to a schools and family support service both on rolling yearly contracts generating regular income. Additional income has been derived from hiring an office out to a local artist. |
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| Achievements against objectives set |
In its sixth year of operation the charity has succeeded in achieving all the objectives set in its governing document and creating a platform for the future development and expansion of those objectives. In 2019 the Corbett Community Library was awarded £210,000 by the National Lottery Community Fund for the development of the Library into a sustainable community hub. The grant was originally for a period of three years until May 2022 payable in 6 half yearly instalments. The term of the grant was extended to reflect delays caused by the pandemic. Monitoring reports are required at the end of the first year followed by 6 monthly progress reports. The Library has now issued monitoring reports to cover the extended period of the grant up to 30 September 2022. These have been formally approved by the Lottery confirming the Library has achieved the outputs and outcomes stated in the grant agreement. |
| Performance of fundraising activities against objectives set |
Fundraising activities have increased in the year but income has been down slightly, due to delays caused by the slow return to full operating capability following Covid-19 restrictions. However, we have obtained funding through the Covid-19 government grant support scheme which has replaced lost income. |
| Investment performance against objectives |
The Charity does not currently have an investment policy. |
| Financial review | |
| Review of the charity’s financial position at the end of the period |
In the year ended 30 September 2022 the charity had a turnover of £99,022 (2021 £152,679) with £64,497 (2021 £77,006) allocated to unrestricted funds and £34,525 (2021 £75,673) restricted for continued expenditure related to grant income. Expenditure on overheads was £37,673 (2021 £32,129) and on grant related projects £63,894 (2021 £70,262) showing a total expenditure of £101,567 (2021 £102,391). This gives a net income of £26,824 and an expense of £(29,369) (2021 income of £44,877 and £5,411) on unrestricted and restricted funds respectively. Carried forward unrestricted and restricted funds were £114,659 (2021 £87,835) and £7,318 (2021 £36,687) respectively. A full set of accounts is attached to this report. |
| Statement explaining the policy for holding reserves stating why they are held |
Any surpluses at the end of each year are held in reserve to be used in the following year to support the development of the charity and its trading activities. |
| Amount of reserves held |
£121,977 in total split £114,659 unrestricted and £7,318 restricted. |
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THE ARCHIBALD CORBETT COMMUNITY LIBRARY ARTS AND HERITAGE CENTRE REPORT AND ACCOUNTS FOR THE YEAR ENDED 30[TH] SEPTEMBER 2022
Financial review continued
| Explanation of any uncertainties about the charity continuing as a going concern |
There are no uncertainties currently of the charity continuing as a going concern. |
|---|---|
| The charity’s principal sources of funds (including any fundraising) |
The charity derives income from donations from activities, sales of donated secondhand books, photocopying and printing services, income from events and the hire of two meeting rooms and playroom. It also applies for grants where an appropriate fund becomes available. |
| Investment policy and objectives including any social investment policy adopted |
The charity currently does not have an investment policy. It has adopted a social investment policy whereby the majority of its activities and services run by volunteers are free to ensure social inclusion of residents unable to pay to attend. |
| A description of the principal risks facing the charity |
The principal risk facing the charity is if there was a sudden drop off in the number of volunteers needed to operate the library on a daily basis causing intermittent closures. |
Structure, governance and management
| Description of charity’s trusts: |
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| Type of governing document |
Memorandum and Articles of Association |
| How is the charity constituted? |
Company Limited by Guarantee |
Reference and administrative details
| Charity name | The Archibald Corbett Community Library, Arts and Heritage Centre |
|---|---|
| Other name the charityuses | The Corbett Community Centre |
| Registered charitynumber | 1171748 |
| Charity’sprincipal address | The Library, 105 Torridon Road,London SE6 1RQ |
Funds held as custodian trustees on behalf of others
| Description of the assets held in this capacity | N/A |
|---|---|
| Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects |
N/A |
| Details of arrangements for safe custody and segregation of such assets from the charity’s own assets |
N/A |
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THE ARCHIBALD CORBETT COMMUNITY LIBRARY ARTS AND HERITAGE CENTRE REPORT AND ACCOUNTS FOR THE YEAR ENDED 30[TH] SEPTEMBER 2022
Names of the charity trustees who manage the charity
| Trustee name | Office (if any) | Dates acted if not for whole year | |
|---|---|---|---|
| 1 | Pat Merry | Chair (until 26 April 2022) |
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| 2 | Jacqueline Berry | Chair (from 26 April 2022) |
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| 3 | Julia Burke | ||
| 4 | Jane Gillis | ||
| 5 | Ben Honeybone | ||
| 6 | Jessica Jesuthas | Appointed 5 July2022 | |
| 7 | Cheryl Johnson | ||
| 8 | Helen Marcelle | Appointed 5 July2022 | |
| 9 | Lynda Miller | ||
| 10 | Gavin Moorhead | Appointed 5 July2022 | |
| 11 | Jennifer Owens | Appointed 5 July2022 | |
| 12 | Desmond Reid | ||
| 13 | Alison Strawbridge | Secretary (from 5 July 2022) |
Appointed 5 July 2022 |
| 14 | Peter Ranken | Secretary (until 5 July 2022) |
Resigned 5 July 2022 |
| 15 | Sophie Martin | Resigned 26 August 2022 |
The directors of the Company are the trustees named above. No person (or body) is entitled to appoint any trustees.
No trustees hold any title to property belonging to the charity.
Exemptions from disclosure
Reason for non-disclosure of key personnel details – N/A
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THE ARCHIBALD CORBETT COMMUNITY LIBRARY ARTS AND HERITAGE CENTRE REPORT AND ACCOUNTS FOR THE YEAR ENDED 30[TH] SEPTEMBER 2022
Statement of the Trustees’ Responsibilities
The Trustees are required to prepare financial statements which give a true and fair view of the state of affairs of the Charity and of its income and expenditure for that period. In preparing these financial statements, the management committee are required to:
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select suitable accounting policies and apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable standards and statement of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.
The Trustees are responsible for keeping proper records which disclose at any time the financial position of the Charity. They are also responsible for safeguarding the assets of the organisation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Declarations
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THE ARCHIBALD CORBETT COMMUNITY LIBRARY ARTS AND HERITAGE CENTRE REPORT AND ACCOUNTS FOR THE YEAR ENDED 30[TH] SEPTEMBER 2022
Independent Examiner’s Report
I report on the accounts of the Charity for the year ended 30 September 2022, which are set out on pages 8 to 15.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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to state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 130 of the 2011 Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
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have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Julia Burgoyne (Mrs)
13 Butler’s and Colonial Wharf London SE1 2PX 12 June 2023
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THE ARCHIBALD CORBETT COMMUNITY LIBRARY ARTS AND HERITAGE CENTRE REPORT AND ACCOUNTS FOR THE YEAR ENDED 30[TH] SEPTEMBER 2022
Statement of financial activities (including income and expenditure account) For the year ended 30 September 2022
| Notes | Unrestricted funds Restricted funds Total funds Unrestricted funds Restricted funds Total funds 2022 2022 2022 2021 2021 2021 £ £ £ £ £ £ |
|---|---|
| Donations and legacies 3 Charitable activities 4 Other trading activities 5 Total income Raising funds Charitable activities Other support costs Total expenditure 6 Net income before and after tax Transfers between funds 18 Net movements in funds Total funds brought forward Total funds carried forward |
10,729 0 10,729 36,809 0 36,809 41,884 34,525 76,409 34,731 75,673 110,404 11,884 0 11,884 5,466 0 5,466 64,497 34,525 99,022 77,006 75,673 152,679 4,485 0 4,485 11,408 0 11,408 28,219 63,894 92,113 19,037 70,262 89,299 4,969 0 4,969 1,684 0 1,684 37,673 63,894 101,567 32,129 70,262 102,391 26,824 (29,369) (2,545) 44,877 5,411 50,288 0 0 0 0 0 0 26,824 (29,369) (2,545) 44,877 5,411 50,288 87,835 36,687 124,522 42,958 31,276 74,234 114,659 7,318 121,977 87,835 36,687 124,522 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities.
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THE ARCHIBALD CORBETT COMMUNITY LIBRARY ARTS AND HERITAGE CENTRE REPORT AND ACCOUNTS FOR THE YEAR ENDED 30[TH] SEPTEMBER 2022
Balance Sheet As at 30[th] September 2022
| Notes Fixed assets Tangible assets 14 Total fixed assets Current assets Debtors 15 Cash at bank and in hand Total current assets Liabilities Creditors falling due within one year 16 Net current assets Total assets less current liabilities Net assets The funds of the charity Unrestricted income funds Restricted income funds Total charity funds |
Unrestricted funds Restricted funds Total funds 2022 2022 2022 £ £ £ 5,033 5,481 10,514 5,033 5,481 10,514 3,123 0 3,123 111,256 1,837 113,093 114,379 1,837 116,216 (4,753) 0 (4,753) 109,626 1,837 111,463 114,659 7,318 121,977 114,659 7,318 121,977 114,659 0 114,659 0 7,318 7,318 114,659 7,318 121,977 |
Unrestricted funds Restricted funds Total funds 2021 2021 2021 £ £ £ 9,506 1,853 11,359 |
|---|---|---|
| 9,506 1,853 11,359 1,882 0 1,882 79,916 34,834 114,750 |
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| 81,798 34,834 116,632 |
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| (3,469) 0 (3,469) |
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| 78,329 34,834 113,163 |
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| 87,835 36,687 124,522 |
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| 87,835 36,687 124,522 |
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| 87,835 0 87,835 0 36,687 36,687 |
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| 87,835 36,687 124,522 |
The company was entitled to exemption from audit under s477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to small companies, subject to the small companies’ regime and in accordance with FRS102 SORP. The notes on pages 10 to 15 form part of these accounts
Signature of director authenticating accounts being sent to Companies House on behalf of all the trustees/directors
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THE ARCHIBALD CORBETT COMMUNITY LIBRARY ARTS AND HERITAGE CENTRE REPORT AND ACCOUNTS FOR THE YEAR ENDED 30[TH] SEPTEMBER 2022
Notes on the accounts
1 Accounting Policies
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
a) Basis of preparation
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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Companies Act 2006 and the Charities Act 2011.
The Charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
The accounts present a true and fair view. No changes have been made to accounting policies or estimates in the year.
b) Preparation of the accounts on a going concern basis
The Charity reported a cash outflow of £1,549 for the year (FY21 inflow £52,732). The trustees are of the view that the charity is a going concern.
c) Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income received in advance of provision of a specified service is deferred until the criteria for income recognition are met (see note 16).
d) Donated services and facilities
Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the services provided by volunteers is not recognised – the trustees’ annual report includes more information about their contribution.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity, which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
e) Fund accounting
Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.
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THE ARCHIBALD CORBETT COMMUNITY LIBRARY ARTS AND HERITAGE CENTRE REPORT AND ACCOUNTS FOR THE YEAR ENDED 30[TH] SEPTEMBER 2022
Notes on the accounts
1 Accounting Policies (continued)
f) Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings: raising funds, charitable activities and other support costs.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
g) Allocation of support costs
Support costs are those functions that assist the work of the charity but do not directly undertake fund raising or charitable activities. Support costs include back office costs, such as insurance, power and stationery. These costs have been allocated between cost of raising funds, charitable activities and other funds on a proportional basis as set out in note 6.
h) Operating leases
The charity classifies the lease of printing and photocopying equipment as operating leases; the title to the equipment remains with the lessor and will be returned to the lessor at conclusion of the lease. The photocopier is held under a five year lease. Rental charges are charged on a straight line basis over the term of the lease.
i) Tangible fixed assets
Individual fixed assets costing £100 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows: Fixtures and fittings – over 4 years Computers and film equipment – over 3 years
Under the terms of the premises management and library services agreements, the main building and all library fixtures, books and equipment remain the property of Lewisham Council. Therefore these items are not reflected in these accounts.
j) Stock
Stock is included at the lower of cost or net realisable value. Stock consists of donated items of books and other secondhand goods. It is not possible to estimate the net realisable value of these items, so stock is carried at cost, which is £nil. Upon sale of donated items, the cash received is shown within income from other trading activities.
k) Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
l) Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
m) Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
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THE ARCHIBALD CORBETT COMMUNITY LIBRARY ARTS AND HERITAGE CENTRE REPORT AND ACCOUNTS FOR THE YEAR ENDED 30[TH] SEPTEMBER 2022
Notes on the accounts
1 Accounting Policies (continued)
n) Financial instruments
The charity has no financial assets and financial liabilities except for those stated above.
2 Legal status of the Trust
The charity is a company limited by guarantee and has no share capital. 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.
3 Income from donations and legacies
The income from donations and legacies of £10,729 (FY21 £36,809) is all unrestricted. This includes:
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£1,815 from the Co-Op Local Community Scheme;
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£4,000 from Lewisham Council under the government Covid-19 support grants;
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£1,250 from Lewisham Council to support Creative Change and Black History Month;
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£3,332 donations provided by individuals, including those collected at our activities, which are all free of charge to participants; and
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£332 gift aid receipts (FY21 £nil).
The Trust benefits greatly from the involvement and enthusiastic support of its many volunteers, details of which are given in our annual report. In accordance with FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is not recognised in the accounts.
4 Income from charitable activities
The income from charitable activities of £76,409 (FY21 £110,404) included £41,884 (FY21 £34,731) of unrestricted funds and £34,525 (FY21 £75,673) of restricted funds. Included within restricted funds are the following grants:
- £34,525 from The National Lottery Community Fund. This represents the final six month instalment of a three year grant of £210,000, which provided funding for the recruitment of a manager and volunteer coordinator to further develop the Charity and establish new income streams to ensure its continued sustainability after the funding period has elapsed. This grant has been recognised on a cash basis as payments are subject to approval of update reports
(FY21 included: £70,675 from The National Lottery Community Fund and £4,998 from London & Quadrant to purchase computers for public use in the library.)
5 Income from other trading activities
Income from other trading activities is all unrestricted and includes funds raised from the sale of second hand books and other donated items.
6 Expenses and support costs
Expenses allocated to fund raising include £nil (FY21 £69) direct costs for marketing and other fund-raising costs and allocated support costs of £4,485 (FY21 £11,339).
Expenses allocated to charitable activities include £10,709 (FY21 £8,338) direct costs for computers, photocopier and printer within the library and allocated support costs of £17,511 (FY21 £10,699). Restricted expenses of £63,894 (FY21 £70,262) relate to costs incurred in relation to the restricted income in note 4, including staff costs set out in note 8, and depreciation on assets purchased with this income. Other expenses of £4,969 (FY21 £1,684) are allocated support costs only.
Total support costs included in the expense categories above were £26,965 (FY21 £23,722). These relate to general office costs, building cleaning and maintenance and insurance. These have been allocated to the three main expense categories based upon the proportional analysis of related income streams.
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THE ARCHIBALD CORBETT COMMUNITY LIBRARY ARTS AND HERITAGE CENTRE REPORT AND ACCOUNTS FOR THE YEAR ENDED 30[TH] SEPTEMBER 2022
Notes on the accounts
7 Net income / expenditure for the year
This is stated after charging:
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Operating leases | 2,167 | 2,131 |
| Depreciation | 8,457 | 6,665 |
| Independent examiner fees | 0 | 0 |
8 Staff costs
The Charity employs two managers to run the day to day operations whose staff costs are funded through the grant provided by the National Lottery Community Fund and are treated as part of restricted funds. The pension costs reflect payments made into a defined contribution fund operated by the government workplace pension scheme NEST.
| 2022 2021 £ £ |
|
|---|---|
| Wages and salaries Social security costs Pension costs |
46,565 48,721 4,117 4,290 1,022 1,087 51,704 54,098 |
9 Trustee and volunteer costs and expenses
No trustees or volunteers were paid for their normal on-going services during the year. During the year two volunteers were paid £1,170 (FY21 one was paid £370) for providing coverage for the managers on a number of weekends. This was outside the volunteers’ normal on-going services and the board agreed that they should be paid accordingly.
10 Donated goods and services
The library services and all activities provided by the charity are run by volunteers, under the supervision of the managers. Details of their contribution can be found in the trustees’ report. No contribution is booked within the accounts. Donated goods such as secondhand books are not recognised in the accounts until point of sale, at which point they are reported within income from other trading activities.
11 Related party transactions
During the year, there have been no related party transactions.
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THE ARCHIBALD CORBETT COMMUNITY LIBRARY ARTS AND HERITAGE CENTRE REPORT AND ACCOUNTS FOR THE YEAR ENDED 30[TH] SEPTEMBER 2022
Notes on the accounts
12 Corporation Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
13 Government Grants
During the year, the Charity received £4,000 from Lewisham Council under the government Covid-19 support grants and £1,250 to support Creative Change and Black History Month.
In 2021 the Charity received £31,613 from Lewisham Council: £19,613 under the Government Covid-19 Business Support Grant, Retail, Hospitality and Leisure Grant Fund. This grant provided support for ongoing costs of running the charity during the lockdown and under Tier 2 and Tier 3 restrictions; and £12,000 for a Covid Restart Grant.
14 Tangible fixed assets
| Cost As at 1 October 2020 Additions As at 30 September 2021 Additions Write off of fully depreciated assets As at 30 September 2022 Depreciation As at 1 October 2020 Charge for the year As at 30 September 2021 Charge for the year Write off of fully depreciated assets As at 30 September 2022 Net book value As at 1 October 2020 As at 30 September 2021 As at 30 September 2022 Memo: Included above is net book value on restricted assets of: As at 30 September 2021 As at 30 September 2022 |
Computer equipment Film equipment Fixtures and fittings Total £ £ £ £ 6,185 6,311 25,096 37,592 1,342 0 0 1,342 |
|---|---|
| 7,527 6,311 25,096 38,934 6,602 0 1,010 7,612 (5,960) (6,311) (2,327) (14,598) |
|
| 8,169 0 23,779 31,948 |
|
| 5,726 6,311 8,873 20,910 601 0 6,064 6,665 |
|
| 6,327 6,311 14,937 27,575 2,427 0 6,030 8,457 (5,960) (6,311) (2,327) (14,598) |
|
| 2,794 0 18,640 21,434 |
|
| 459 0 16,223 16,682 1,200 0 10,159 11,359 |
|
| 5,375 0 5,139 10,514 |
|
| 634 0 1,219 1,853 |
|
| 5,120 0 361 5,481 |
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THE ARCHIBALD CORBETT COMMUNITY LIBRARY ARTS AND HERITAGE CENTRE REPORT AND ACCOUNTS FOR THE YEAR ENDED 30[TH] SEPTEMBER 2022
Notes on the accounts
15 Debtors
| Trade debtors Prepayments and accrued income Total debtors |
Total funds 2022 £ 1,218 1,905 3,123 |
Total funds 2021 £ 341 1,541 |
|---|---|---|
| 1,882 |
16 Creditors falling due within one year
| Trade creditors Accruals and deferred income Taxation and social security Total creditors |
Total funds 2022 £ 1,255 2,576 922 4,753 |
Total funds 2021 £ 976 1,310 1,183 |
|---|---|---|
| 3,469 |
Accruals and deferred income include £1,226 (FY21 £844) of deferred income for cash received in advance for hire of library space for periods after the accounting year end.
17 Charity funds
Movement in charity funds is shown on page 8 and analysis of restricted income and expenditure is provided in notes 4 and 6.
18 Post balance sheet events
There have been no events between the balance sheet date and the signing of these accounts which relate to conditions that arose after the end of the reporting period that would impact on the understanding of these accounts.
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