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|Trustees'
Report|Trustees'
Report||
|---|---|---|
|Objectives|8 Activities||
|Financial|Review||
|Plans
for|Future
Periods||
|Structure,|Governance
8|Management|
|Trustees'|Responsibilities|Statement|
|Reference|8
Administration||
|Independent|Auditor's
Report||
|Financial
Statements|||
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r¥
&••lP *
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|KalbinderSanghera(SeniorStatutoryAuditor)|||
|---|---|---|
||20/11/2023||
|for and on behalf of Kirk Rice LLP|||
|Statutory Auditor|Zeeta House||
||200 Upper Richmond|Road|
||Putney||
||London||
||SW152SH||
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||||Unrestricted|Unrestricted|
|---|---|---|---|---|
||||funds|funds|
||||2022|2021|
|||Notes|E|E|
|income and endowments|from:||||
|Donations
and legacies||3|156,572|106,199|
|Charitable
activities||4|5,518,340|1,879,084|
|Other trading
activities||5|2,580,782|905,615|
|Total income|||8,255,694|2,890,898|
|Ex enditure
on:|||||
|Raising funds|||2,113,632|1,013,145|
|Charitable
activities||6|1,376,075|3,694,906|
|Total expenditure|||3,489,707|4,708,051|
|Net income/(expenditure)|forthe year/||||
|Net movement
in funds|||4,765,987|(1,817,153)|
|Fund balances at 1 January|2022||||
|As originally
reported|||(7,003,649)|(3,478,947)|
|Prior year adjustment||25||(f,707,549)|
|As restated||||(5,186,496)|
|Fund balances at 31December 2022|||(2,237,662)|(7,003,649)|
##
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||||||2022||2021||
|---|---|---|---|---|---|---|---|---|
||||||||as restated||
|||||Notes|||||
|Fixed assets|||||||||
|Intangible
assets||||12||9,250||12,250|
|Tangible assets||||13||39,200||51,064|
|||||||48,450||63,314|
|Current assets|||||||||
|Stocks|||||100,158||120,090||
|Debtors|||||515,259||1,906,723||
|Cash at bank|and|in|hand||5,269,809||2,911,153||
||||||5,885,226||4,937,966||
|Creditors: amounts|||falling due within||||||
|one year||||17|(8,171,338)||(12,004,929)||
|Net current
liabilities||||||(2,286,112)||(7,066,963)|
|Total assets|less|current liabilities||||(2,237,662)||(7,003,649)|
|Income funds|||||||||
|Unrestricted|funds|||||(2,237,662)||(7,003,649)|
|||||||(2,237,662)||(7,003,649)|
##
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||||||2022|||2021||
|---|---|---|---|---|---|---|---|---|---|
|||||Notes||||||
|Fixed assets||||||||||
|Investments||||||||||
|Current assets||||||||||
|Debtors||||16|212,413||186,434|||
|Cash at bank|and|in|hand||540,034|||||
||||||752,447||186,434|||
|Creditors: amounts|||falling due within|||||||
|one year||||17|(557,274)|||||
|Net current assets||||||195,173|||186,433|
|Total assets|less|current liabilities||||195,174|||186,434|
|Income funds||||||||||
|Unrestricted|funds|||||195,174|||186,434|
|||||||195,174|||186,434|
##
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|||||||2022||2021||
|---|---|---|---|---|---|---|---|---|---|
||||||Notes|||||
|Cash flows from operating|||activities|||||||
|Cash generated||from operations|||23||2,362,111||1,739,465|
|Investing|activities|||||||||
|Purchase|ofintangible
assets|||||||(15,000)||
|Purchase|oftangible fixed assets|||||(3,455)||(16,735)||
|Net cash|used|in investing|activities||||(3,455)||(31,735)|
|Net cash|used|in financing|activities|||||||
|Net increase
in||cash and cash equivalents|||||2,358,656||1,707,730|
|Cash and|cash|equivalents|at beginning|ofyear|||2,911,153||1,203,423|
|Cash and|cash|equivalents|at end of|year|||5,269,809||2,911,153|
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|||||Unrestricted|Unrestricted|
|---|---|---|---|---|---|
|||||funds|funds|
|||||2022|2021f|
||Donations|and gifts||17,013|1,500|
||Government||grant|139,559|104,699|
|||||156,572|106,199|
|4|Charitable||activities|||
|||||Unrestricted|Unrestricted|
|||||funds|funds|
|||||2022|2021|
||Exhibitions||and events|5,518,340|1,879,084|
##
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|||Unrestricted|Unrestricted|
|---|---|---|---|
|||funds|funds|
|||2022|2021|
|||E|E|
|Exhibitions|and sponsorship|334,033|164,407|
|Commercial|trading|1,899,708|682,082|
|Other||347,041|59,126|
|||2,580,782|905,615|
##
|||||Direct|Support|Total|Total|
|---|---|---|---|---|---|---|---|
|||||Costs|Costs|2022|2021|
||||||K|E||
|Expenditure|on|raising funds||1,469,747|573,130|2,042,877|1,013,145|
|Expenditure|on|charitable|activities||1,446,830|1,446,830|3,694,906|
|||||1,469,747|2,019,960|3,489,707|4,708,051|
##
|7|Support costs|||||||||
|---|---|---|---|---|---|---|---|---|---|
||||Raising|Charitable|2022|Raising|Charitable|2021|Basis ofallocation|
||||funds|activities||funds|activities|||
||||6|F|||6|||
||Staff costs||247,104|741,314|988,418|115,830|656,367|772,197|Staff time|
||Rent||(114,416)|(1,029,746)|(1,144,162)|85,612|1,626,635|1,712,247|Use of premises|
||Other premises costs||104,420|939,785|1,044,205|54,284|1,031,400|1,085,684|Use of premises|
||Promotions
and exhibitions||67,921|45,281|113,202|83,768|53,557|137,325|Staff time|
||Other office costs||244,912|734,736|979,648|67,268|201,803|269,070|Staff time|
||Finance costs||2,019|1,346|3,365|19,732|12,615|32,347|Staff time|
||Legal and professional|fees|7,070|4,714|11,784|23,332|14,917|38,249|Staff time|
||Bad debt expense|||||138,036|88,253|226,289|Staff time|
||Governance||14,100|9,400|23,500|14,640|9,360|24,000|Staff time|
||||573,130|1,446,830|2,019,960|602,502|3,694,906|4,297,408||
##
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|8|Net movement
in funds|Net movement
in funds|Net movement
in funds|||2022|2021|
|---|---|---|---|---|---|---|---|
|||||||K|E|
||Net movement||in funds is stated|after charging/(crediting)||||
||Fees payable||to the company's|auditor for the audit ofthe company's|financial|||
||statements|||||23,500|24,000|
||Depreciation||ofowned tangible fixed assets|||15,319|13,730|
||Amortisation|ofintangible assets||||3,000|2,750|
##
##
|The averag|e
monthly
number ofemployees
during the|year was:||
|---|---|---|---|
|||2022|2021|
|||Number|Number|
|||30|26|
|Employment
costs||2022|2021|
||||E|
|Wages and|salaries|848,058|677,691|
|Social security costs||78,704|58,196|
|Pension contributions||19,571|19,571|
|Temporary|staff|14,236|14,236|
|Other staff|costs|2,503|2,503|
|||988,418|772,197|
|The number ofemployees|whose annual|remuneration|was more than F60,000|||
|---|---|---|---|---|---|
|is as follows:||||||
|||||2022|2021|
|||||Number|Number|
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|||Group|Charity Total|
|---|---|---|---|
|||Computer|Assets|
|||Software||
|Cost||||
|At 1 January|2022 and 31 December 2022|15,000||
|Amortisation|and impairment|||
|At 1 January|2022|2,750||
|Amortisation|charged for the year|3,000||
|At 31 December 2022||5,750||
|Carrying
amount||||
|At 31 December 2022||9,250||
|At 31 December 2021||12,250||
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|13|Tangible fixed assets|||||||
|---|---|---|---|---|---|---|---|
||||Group|Group|Group|Group Total|Chanty Total|
||||Leasehold|Fixtures &|Computer|Assets|Assets|
||||Improvements|Fittings|Equipment|||
||||K|E||||
||Cost|||||||
||At 1 January 2022||58,011|13,934|2,801|74,746||
||Additions|||1,330|2,125|3,455||
||At 31 December 2022||58,011|15,264|4,926|78,201||
||Depreciation
and impairment|||||||
||At 1 January 2022||21,554|1,355|773|23,682||
||Depreciation
charged|in the year|11,602|2,415|1,302|15,319||
||At 31 December 2022||33,156|3,770|2,075|39,001||
||Carrying
amount|||||||
||At 31 December 2022||24,855|11,494|2,851|39,200||
||At 31 December 2021||36,457|12,579|2,028|51,064||
|Investment|||
|---|---|---|
||Charity|Charity|
|Shares in group undertaking|2022|2021|
||E|E|
|Cost or valuation|||
|At 1 January 2022|||
|Additions|||
|At 1 January 2022 and at 31 December 2022|||
|Carrying
amount|||
|At 31 December 2022|||
##
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||A summary
ofthe results ofthe subsidiary|A summary
ofthe results ofthe subsidiary|is shown|below:|||||
|---|---|---|---|---|---|---|---|---|
||||||||2022|2021|
||Sales||||||8,099,122|2,784,699|
||Cost ofsales||||||(1,546,548)|(283,175)|
||Gross profit||||||6,552,574|2,501,524|
||Administrative
expenses||||||(1,934,886)|(4,395,794)|
||Other operating
income||||||139,559|104,699|
||Trading
profit/(loss)||||||4,757,247|(1,789,571)|
||Interest payable|||||||(29,082)|
||Corporation
tax||||||||
||Retained
profit/(loss)|after tax|||||4,757,247|(1,818,653)|
|15|Stocks|||Group||Group|Charity|Charity|
|||||2022||2021|2022|2021|
||||||E|E|E|E|
||Finished goods and goods for resale|||100,158||120,090|||
|16|Debtors||||||||
|||||Group||Group|Charity|Charity|
|||||2022||2021|2022|2021|
||Amounts
falling due within one year:||||E|E|E|E|
||Trade debtors|||270,617||242,574|24,000||
||Amounts
owed by fellow group undertakings||||||188,413|186,434|
||Other debtors|||||1,000,001|||
||Prepayments
and accrued income|||244,642||664,148|||
|||||515|259|1,906723|212413|186434|
##
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|17|Creditors: amounts|falling due|within one year|||||
|---|---|---|---|---|---|---|---|
|||||Group|Group|Charity|Charity|
|||||2022|2021|2022|2021|
||||Notes|||||
||Other taxation and social security|||308,340|230,765|2,345||
||Deferred income||18|1,145,938|3,072,521|545,000||
||Trade creditors|||5,740,853|8,309,192|||
||Other creditors|||145,116|92,585|1||
||Accruals and deferred|income||831,091|299,866|9,928||
|||||8,171,338|12,004,929|557,274||
|||||||Group|Group|Charity|Charity|
|---|---|---|---|---|---|---|---|---|---|
|||||||2022|2021|2022|2021|
|||||||E||||
|Deferred||income||||1,145,938|3,072,521|545,000||
|Deferred||income is|included||in the financial statements|as follows:||||
|||||||Group|Group|Charity|Charity|
|||||||2022|2021|2022|2021|
|||||||E||E|E|
|Deferred||income is|included||within:|||||
|Current|liabilities|||||1,145,938|3,072,521|545,000||
|Movements
in the year:||||||||||
|Deferred||income at|1 January 2022|||3,072,521|960,513|||
|Released||from previous||periods||(3,072,521)|(960,513)|||
|Resources deferred|||in the year|||1,145,938|3,072,521|545,000||
|Deferred||income at|31|December 2022||1,145,938|3,072,521|545,000||
##
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|Operating
leas|e commit|ments|||||||
|---|---|---|---|---|---|---|---|---|
|At the reporting|end date|the charity|had|outstanding|commitments|for future
minimum|lease payments|under|
|non-cancellable|operating|leases, which||fall due as|follows:||||
||||||Group|Group|Charity|Charity|
||||||2022|2021|2022|2021|
|Within one year|||||1,500,000|1,712,246|||
|Between two and five years|||||10,791,070|2,665,114|||
|In over five years|||||8,961,210||||
||||||21,252,280|4,377,360|||
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|---|---|---|---|
|Cash generated
from|operations|2022|2021|
|Surplus/(deficit)
forthe|year|4,765,987|(1,817,153)|
|Adjustments
for:||||
|Amortisation
and impairment
ofintangible assets||3,000|2,750|
|Depreciation
and impairment
oftangible fixed assets||15,319|13,730|
|Movements
in working|capital:|||
|Decrease
in stocks||19,932|17,771|
|Decrease
in debtors||1,391,464|13,487|
|(Decrease)/increase
in|creditors|(1,907,008)|1,396,872|
|(Decrease)/increase
in|deferred income|(1,926,583)|2,112,008|
|Cash generated
from|operations|2,362,111|1,739,465|
##
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|Changes to|th|e balance sheet|||||
|---|---|---|---|---|---|---|
||||At 31December||2021||
||||As previously|Adjustment||As restated|
||||reported||||
|Creditors due||within one year|||||
|Trade Creditors|||(6,601,643)|(1,707,549)||(8,309,192)|
|Unrestricted|funds||(5,296,100)|(1,707,549)||(7,003,649)|
|Changes to the profit and loss account|||||||
||||Year ended|31December 2021|||
||||As previously|Adjustment||As restated|
||||reported||||
||||||E|F|
|Net movement||in funds|(1,817,153)|||(1,817,153)|
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