2022-03-31-accounts

Registered number. 11876428 Charity number.. 118S414 Metroland Culture Limited Tnjstees. report and financial statements Fly Ihe year ended 31 Mard) 2022 rfADAINS ACCOVNT ANTS A8IZULNIB 3111212022 COMPANIES HOUSE 111 A7

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Metroland Culture Llmlted {A ¢ompany lirnited by guarantee) Contents Page Reference and admrnlstratlve detall$ of the Charity, its Trustees and advisers Chaimian's statement Truste•s' r8POrt 4-12 Independent audltors. report on the financial sLitem•nts Stalemont of financial activities 13-16 Balance sheet 18 Stslement of cash fl¢ws 19 Notes to the flnancial statements 20-32

Metroland Culture Llmited {A campany limited by guarantee) Reference and administrative details of the Charity. its Trustees and advisers For the year ended 31 March 2022 Trustees H Abrams Z Alsukhny l Dahir R Dedman E Donald K Hirani. Chair MHO T James S Mullings-JohnsL L stonC￿k A Zafirakou J Williams D Halsby Company registèred number 11876428 Charity registered number 1185414 Registered office Metroland Studios 91 Kilburn Sqaure London England NW6 6PS Borough Represeniative K Hirani in year Chief executive officer L Stonock Independent auditors Dains Audit Limited Suite 2. Abion House 2 Etruria Office Village Forge Lane Stoke on Trent ST1 5Ra Page 1

Metroland Culture Limited IA company limited by guarantee) Chairfs statement For the year ended 31 March 2022 The chaiman presents his ststement for the ￿r. As Chair of Metrdand Cultures, l am happy to report on the third year of the Chariws work. It has been a busy period across toth govemance and the set-up of Ihe ieam and programmes to deliver on the objectives of the Charity. Tha fo¢us of the can be summarised acro&8 4 key areas we have delivered on." 1. Wrapping up ￿nI 2020. L(x)don Borough of Cuttu￿ fw Brent Council by leading. developing. writing. and elivering all the evaluation for Brent's year of Cullure, balanang the final budget and closing off all Partnerships and ￿pOrtS lo funders aThJ refiects.ng on vthat we have delNered with the artists and partners who look part. 2. Taking Melroland on a new course posl Brent 2020 through the establishment of a Vision. Mission, Theory of Change and evaluation framework to further support. develop and gain visibility for Brent's artists. community. 3. Building a new team. establishing a new organwtional struclure with systems. policies. board members and ftjndraising. 4. Deliver a pr￿raMMe to our beneficiary's as well as setting up the pro9rammes for the Summer of 2022- Metroland's first significant project since the Borough of Culiure. We can confidently articulate our Vision is that B￿nt is known globally for its arts and Cultu￿. and its people and communities are rec(wJnised and celebrated for shaping it. Our missM)n is to build, share and support art and Cultu￿ in Brent.. supporting cornmunrtses to amplify stories of B￿nt life. and wort¢ing wth artisis to tell new stories. Our progr8mrne is 81 the interseclton of art and Gommunrty. testing and proneering new approaches that centre partnership5. Strategies and approaches for community and artist c4JlaLx)ration. We do this through music 8nd visual arts an annual festival, young people's programme. and artist (levelopmènt programme_ At the heart of eVer￿hIng is 8 culture of learning. devebpment. and transpareACy Wth our ¢onstiiuencies. Four trojilding bhJcks inform ourapproach.. We start with Brent people and ￿lebrate what's already here. Our work is grounded in the stories, needs and hislories of people. We listen. leam and act wlh OUT community. A big part of Brent cultural life is people doing il for Ihemsefves. We find wayE to support people who are d￿n9 Ihis. 2. We connect artists with cornmunities. We bring artists and grassroots organisations together. lo hold conversations atx)ut %￿21 the borough needs. and use art to make it happen. 3. We stand for social Justice. We make space foi difficult conversations, and work towards disfflanlling inequality an￿here we find il including al hrtetroland. We wanl evewne lo be able to accéss the culture we make. 4. We're on the side of the future. Brent has one of the youngest populations in London so our work has to equip young peO￿e wlh the skills and confidence that they have the right lo make art anty cvllure. Key achievements have includeil the delivery of Making Myself Visible programme. an inaugural programme in the Metroland Studio building hosting 5 exhibitions. akjngshle a programme of talks and events with Studio artists alongside other Brent based artisls. We ¢￿tinUed to host 14 Brent a￿$1$ in reshyence in the Kilburn building. In January 2022 we announced the theme, tiue 'ln the House of My Love. and artists that would be tsking part in the second iteration of the Brent Biennial to happen over the summer of 2022. We launched the recruilmenl for Peer to Peer, our artist development programme targeted al Brent artists pro￿lding a bursary and profeSs￿nal development to 10 artists and. Melroland Y(yJng Associates {MYAI. our paid programme for young people aged 1& 25 living in Brent has recruiled 20 people tr) tske part in the progrdmme Ihal wll begin in May 2022. We have fundraised from John Ly)ns Charity and Nakn"onal Lottery Communities Fund. Jack Arts 8nd submitted a Naknon81 Portlolio applicats.on lo the Arts Counal Eroland which, should we be succEssful wll Secu￿ 3 years funding from 25126. In addition we developed partnerships with Young Brent FoundatK)n. Sufra. Young Roots. Mosaic Trust. Action Space. Catholic Newman College, Young Brent Foundakn"on. Brent Cwncil Museum and Libraries. Tin Tabernacle, TFL. GLA. Hadesden High Street and Sludio Vollaire. Page 2

Metroland Culture Limited IA company limited by guarantee) Chairman's statement (continued) For the year ended 31 March 2022 Further to this we refined and develLy)ed 6 progr8mme strands for Metroland to underpin a 4-year strategic and financial plan supported by a Theory of Change and Evaluation framework. These programmes will be the focus of Metroland's work over the nexi 5 ￿arS and indude.. An Annual summer Festival Programme which in 2022123 will be the Brent Biennial. A programme of training and Leaming for Young People from Brent offering a suite of paid opportunities lo le8m aboul the Creabve Industries. An Artist development programme lor artists from and ¢onnecte(I to Brent offered through a residency stheme, bur53ries and professional development 5UPPOrt. A pr(￿rarnme of partnership and constituency wrth the cfjmmunity offering paid and voluntary work opportunities abngside partiapation in our programmes. A programme af research and leamiThJ to understsnd and share wth others our approach. The Brent Hussle a business model and operational mcmjel Ihal is suitable for the borough. The last year has seen the (wganising sdidify its ap￿0￿ and pri￿111e$ post the London Borough of Culture. It has been a pivotal year for setting the organisation on course and has defined the way we want to work and the prior41ies of who we will work Mth. And for this I want to send my sincere thanks go to all the committed Trustees of Metroland Culture who a￿ generous in contributing guidance, experIe￿e, time and insight. To the executive team l offer my thanks for their achievements. my admiration and Continued supw)rt. And to the artists, communrties and partners who are generous wrth their team and feedback as we evolve into an ally within the borough arvj seelor for the type of work we are striving io rnake. Finally. we want to thank the funders who helped Metroland Cultures to deliver a programme thal has been grounded and rooted in the borcmjgh. They are Brent Counul. Nats"onal Loliery Communities Fund and John Lyon's Charity. Thank yw. K Hirani Chair of Melroland Cullure Limited Oate: 21 December 2022 Page 3

Metroland Cutture Llmlted IA company limited by guarantee) Trustees. report For the year ended 31 March 2022 The Trustees present their annual report together with the audited financial statements of the Charily for the year 1 April 2021 to 31 March 2022. The Annual report seNes the purposes of both a Trustees, report and a directors. report under company law. The Tnjstees confimi that the Annual report and financial statements of the charitable company comply with the current slaiutory requirements. the ￿qu1￿ments of the charitable companls goveming document and the t￿0VIsI￿5 of the Ststement of Recommended Practice ISORPI applicable to charities preparing their accounts in accordance with the Finanual Repo￿ng Standard applicable in the UK and Republic of Ireland IFRS1021 (effective 1 January 20191. Obj•ctiv•s and activities a. Policies and objectives The Trustees have ￿ferred lo the guidance conlained in the Chaiity Commission's general guidance on public benefit when reviewng the Charitys aims objeclives arKI in planning our future activities. The Charitable Objectives of Melroland cultu￿ are for. The benefit of the pvbli¢. the advancement of educab.on in the arts in pathcular but not exclusively by developing and delivering educational projects Ihat build 13pa(aty and kno￿edge in the ¢ullural sector, creative industries and in the arts generdlty. For the benefit of the pu￿1C. the promotion of ihe arts, culiure and heritage of the London borough of Brent by encouraging public partiupab.on in the arts, the presentation of concert. performan￿$. exhibitions and fests'vals ar￿ by supporting and representing the arts and heritage Sector through promotion. represenlalio and development provided thal the promotion of suth like is un¢Jertaken solely for the public benefit. To adv8nce in life and relieve needs of young people through.. The provision of recxeational and leisu￿ b.me acb"vilies pro￿￿ed in the interest of soual weware, designed to improve Iheir conditions of life., b. Prowding support and artiwties within the arts which develop their skills, capaoties and capabilities lo enable them lo partiopate in sooety as mature and responsible individuals. The year has seen board and leam collaboralion set our vision for Brent lo be known globally for ils arts and culture. and its people and communities a￿ recognised and ￿lebrated for shaping it. hAetroland's mission towards that VI￿On is to build, share and support art and cuhure in Brent.. supporting communities to amplify stories of Brent life. and working wrth a￿"Sts to tell new stories. This has seen us focus on 6 programmes strands= Annual Fèstival Programme This is Metroland's big annual visible moment for everyone to get invdved wlh across the borough. This stmnd is bringing together research. relationships. projects & programmes that happen year round to showcase B￿nI. In sumrller 2022, this is the Brent Biennial and in 2023 it wll be a summer Music Programme. This strand is about aliracting people into Brent to wsit us and ueatsng a mc*nent that can mobilise th8 borough to showcase artists. communilies and ￿al is most important. Training and Leaming from and for Young People This is about Metroland investing into the future of the creative industries. into the borough. and into the development and fulure of our organisalion through tangible. paid and accessible programmes. It is about equipping young people wth skn'lls and confidence to join the Creative industries. And it is about succession planning our organiSat￿), in 10 years (hopefully SOLwerl our team wll represent the makeup of the borough. Artist development This is about Metrdand sharing Ihe relationships, experiences. partnerships and resources with the borough's artists. particularfy those workn'ng in the visual arts ané music in their swdest senses. It is'about ensuring the curators. programmers, partners and artists that (xjnlribule lo our programme can share their leaming and expertise wilh those that are invested in the future of the borough. It recognises that artists need to be paid for their contribution and is committed to deVelo￿ng a rA)hort of artists that wll be the future of the Festival Programme Page 4

Metroland Culture Limited IA etsmpany limitèd'by guarantee) Tru5tees' report Icontinuedl For the year ended 31 March 2022 Objectives and activities {continuedl Partnership and Constituency with the community This is about a éeep commitment to our audiences. It is about ensuring we are listening to those that we work with, cdlatrrt)rate with and Ihose that are leaders in oui community. 11 is ensuring that we are part of a netsvork across the borough of Brent that works together to make Brent a better rAace lo live ané wo￿. It is also abcyjt ensurin9 Melroland adds value and éoesn't ￿￿￿1¢ale work that is already happening across the vast grass roots network in the borough_ This strand of Work sees our CL)ntribution lo working groups, supporting our audiences to come closer into the heart of decision making and makes room for different approaches lo the vrfork we d no matter where they come from. Resear¢h and Learning This is about researching. leaming and sharing the we do and the appraaches we take acros5 the organisation, the Borough, London and the UK. This takes the form ol progfarnming lo open up the disujssion aLK)ut the future ol the intersection of art. culture and c£)mmunity in Brent. 11 is also iterative and leams from and with others that are lryr'ng similar approaches across the voluntsry sector boih in the borough and across the globe and looks lo find learning. It is also about ensuring the team and organisation is cnnstanuy leaming and reflecting on the work we do both together as a team and supporting individuals lo leam and grow their careers. Brent Hussle The Hussle'_ used by Brent (X8atives- meaning finding ways to be able to contsnue to be an artist be that mulliple jobs, commercial work, fundraising. lobbwng the (x)uncil or just tuming vp for tO9ether. It is about finding ways Eo get by in Ihis borough. B￿nt needs a new business model, one thal brings along all the community over building a new instilution. It is about recognising the challenges of the community we serve and being sensrtive to the we generate income and how and where we get our money from. Beyond this it is aboul supporting the se¢tor to grow wth us and ensuring we are sharing the skills. ￿SoUrceS and knowledge we have in the borough. 11 is abtxrt looking beyond transa¢tron81 pathership lowards long term investment into relationships and ensu￿ we grow with Ihe Community and people. ￿anIsatIOnS and funders with us as we pioneer this new approach. This has translated into 3 areas over the last 12 n￿)nths. Wrapping up Brent 2020. leading. developing and delivering all Ihe evaluation for Brent's year of Culture. balancing the final budget and dosing off all partnerships and reports to funders. Taking on the leaming of Brent 2020 to sei Melroland on a new course w)sl B￿nI 2020 to further support, dèvelop and gain wsibilrty for Brent's artists, community. culture and hi8tory. Akjngside building 8 new leam, establishing a new organisabonal stwclure systems. PK)liGies. board members and fundraising. Setting up the programmes for the Summer of 2022- Metroland's firsl signrficant project since the borough of cultu￿. b. Publlc bengfit The Trustees have referred lo the guidance contained in the Charity Commission's general guidance on publi benefit when reviewng the Charitys aims and objeth.ves and in planning our future activities. Page 5

Métrol8nd Culture Llmited IA company limited by guarantee) Trustees. report Icontinuedl For thè year ended 31 March 2022 Objectives and activities {conlinuedl Strategic report Achievements and perforniance . Main achievements of the Charity Key Achievements for the charity and ils wblic benefit indude.. Establishiftg a yearfy cultural offer for residents and communities: Metroland has established 3 annual programmes (Peer to Peer. Brent Biennial, Metroland Young Associates that will be delivered every year in the borough and wll cxeate offers year on year for artists, ￿MMunitieS and young people to access and get involved in. These programmes have all been estsblished and recruited for and are due to begin in June 2022. Establishing Brent as a plaeè. a visitor dèstination and as culturè centr• in London- The Biennial is London's only Biennial and the wsion and mission of the organisation has been sèl to ensure Ihal we attract Brent based, National and intemational audiences lo the borough. We have established partnerships l(tslly. nab"onally and inlemalJ"onally lo ensure Ihal we attract new audiences to Brent and establish it as a ojltural destinab.on in London. We have built a new partnership with Ihe GLA and VICE to help us attract 1(K).000 visits lonh'ne and in person) to the Biennial. Building in job opportunities for Brent artists and frèelancèrs: In this peri¢Xt we h8ve generated 12 job opportunities for hosls lo work with Melrdand on the delivery of the Biennial which equates to 4 da￿ work a week at London Living Wage. This is alongside a programme of training and development oprKJrtunilies of hosts. We recruited 20 Metroland Young Assooates, aTr will WO￿ towards deliveiifjg the closing weekentl of the Biennial through a series of events and public programmes. The programme is geared towards supp)rting them lo ream about the arts and events programming then to deliver the final event. To get to this stage they have 8 wofeSs￿nal developmenl day long sessN)ns. each have a menlor from the arts sector and they work to host the Biennial at weekends. Peer lo Peer This programme sup￿rtS 10 Brenl based artists %wth a professional development programme and VAII end in 8n exhibthn and series of events to collate their leamings to share with Brent Audiences. Throughout their programme they meet professionals, leam how to build budgets and gel a mentor tailored lo their c4reer aspirakn"ons. 73 pakl opportunities have been allocated since June 2021 and 60 of those h8ve been lo B￿￿t based or connected artists and praditioners so that is 82% 01 all opportunities. And 800A of all opportunities have been allocated lo Poc. Establishing pathways and professional development opportunities: We have 4 wogrammes that create pathways to jobs and rnfession￿ development, all which pri￿lt￿se the Brent Communty. Hosts - 12 job opportunibes lo wor* wilh Metroland the delivery of the Biennial which equates to 4 days work a week al London LiMrvJ Wage. This is a]ongsitle a programme of training and development opportunities of hosts. Page 6

Metroland Culture Llmited (A company limited by guaranteel Trustees. report {continuedl For the year ended 31 Mar¢h 2022 Strategic report {continuedl A¢hrev•ments and perfomian¢e Icontinuedl MYA- the 20 hAYA's all Work towards delivering the dosing weekend of the Bienni81 through a series of events and public programmes. The programme is geared towards Suppo￿￿9 thern to leam about Ihe arts and events programming then lo deliver the final event. To get to this stage they have 8 professional development day Ic￿9 sessicns. eath have a menlor from the arts Se￿ and they work to host the Biennial al weekends. Peer lo Peer programme supports 10 Brent based artists 8 professional development programme and will end in an exhibition and series of events to collate their learnings to share with Brent Audiences. Throughout their pr¢>Jramme they meet prOfe￿Onal$. leam how lo build budgets and gel mentors. Team development each team member in Metroland has a tailored programme of professional development. This year Ihis is done in partnership with Brent Citizens and is focused on Ihe theme of community organising. Promoting opportunities for Brent's Young People. Metroland continues to acts as a v(xce. mobiliser and suprM)rter of the arts and culture in Brent to date they have sat on= Sal on B￿n1'S cuttural network arKY the Creative Education Pathership. Bvill a programme with Young Roots lo deliver 8 wogramme for newly arrived young people in the borough. This will be deliVe￿d in De¢8mber 2022. Built a partnership with Young Brent FourKlation to supwrt the delivery of the Metroland Young Asswates programme and have prowded us vmth a youth worker to provide pastoral support. We are working wth Brent Citizens to get a broader understsnding of key issues being put forward by young people in the borough We have supported the Blueprint colleth.ve from Brent 2020 wth 3 spaces on the Metroland Board and have reuuited from the wder po)1 to gain paid opportunities supporting as Mentors to the MYAS We have established a new Critical Youth Neh¥ork vthich is aimed al ￿Ung people giving critical feedback ireclly lo the trK)ard on Metroland's prc¥Jrammes. Establishing an accessible platforni lo bring grass roots Culture organisations, stories and initiativès to a national and international platfomi: To date we have built our website and our socral media to access new audiences and have appointed a press agency to support the wch ofthe ￿ennial. We have also signed MOU'S 4 Brent organiSat￿nS to support them to reath new audiencAs nationally and internationally." Young Roots. Asian Women's Resource Centre, Sufra Food Bank antl The Mosaic LGBTQI'S Young Peoples. Trust Supporting artlsts in the borough In response to feedback from the Brent A￿'st Neh¥ork VR have estsblished prcgrammes that are specificalby geared to 5UPPOrting Brent Arb'sts. This indudes.. Developing the Peer to Peei programme to provide 10 Brent based or c£Jnnected artists a £2.500 non- resth.eled bursary. the space in Brent lo leam, collaborate and find support from peers," and the opportunity to expand Iheir ne￿Ork and gain Msibility as a Metroland Cohort artisl in perpelvity. we wll offer an infrastructure of tailored. meaningful support for a￿'SIs. the results of which we hope wll last beyond the programme rtself. Running alongside the Brent Biennial 2022. the cohort ￿11 also have the opportunity for Page 7

M•troland Culture Limitsd {A company limited by guarantee) Trustees, report l¢ontlnuedl For the year el￿d 31 March 2022 Strategic report (continued) Achievements and perfowmance {continued} close engagemenl wth olher artists. curalors. writers and arts profession81s throughout the programme. The 2022 8rts.sts a￿." Ocean Baulcombe-Toppin. Bill Oaggs., Heib8 L8mara. Yasmin Nicholas.. James Jordan Johnson, Nilik Khimani, Bediah, Arsalan Isa, Dita Hashi Providing free studio space to 14 Brent artists by ueating a new space in 8 disused building and sharing the assets of the organisation. Generating commissioning r4)fM)rtunities for Brenl Based artists across the programme. To date 73 paid opportunities have been allocated since June 2021 and 60 of those have been to Brent based or connecled artists and pra¢titi'oners so that is 82% of all opportunities. And 80% of all opportunities have been allocated lo Poc. b. Fundraislng, matching and leveraging m¢re m¢ney and partnerships Into Brenl for Brent Communlties Fundraising has been a priority for Metroland. To date this has induded= Submitting an NPO application to the Arts Ccvjncil EThJland that would promde secure support for 3 years to ver core costs. Secured funding from the NaI￿al Lottery communiti.es S￿ supporting Metroland for the 3 years wth a grant of £350k. As of April 2022 we are weparing applications to the National Lottery Heritage Fund and the Paul Hamlyn Foundation. Developing the 8rent Hussle vthich indud8d vthile labet consultancy and a merchandising arm to generate addib'onal income into the organisalion. In summary our key programme achievements have induded: Writing and delivering the fvll Brent 2020 evaluation {which has been the basis for the organisaliona1 devekjpment for 8renl 2020) to be used to ftjrther strategic Work. Delivered interim 'sel up programme'_ Making m￿lf Visible Hosted 14 Brent artists in residen￿ in the lQlbLTh buildiThJ Prograwnmed 5 exhibitions Recruited a rwi team and grown board Developed 6 programme slrantJ5 for Metroland. a 4-ye8r strategic and financial plan unéerpinned by 8 Theory of Change and Evaluation framework wrth the team and board Trustee Training programme delivered coverin9 legal. finance, responsibilities etc. Developed 8nd ready lo launch our first major summer festival- ￿nI 8iennial Launched anty in progress our 2 tjevelopment Programmes MYA and Peer to Peer Submilled an NPO application for Metro￿nd which should we be successfvl will secure 3 yeats funding from 25126 Fundraised from John L￿,$ Charity and National Lottery Communities Fund. Jack Arts Developed partnerships wth Young Brent Foundation. Sufra, YouThJ Roots. Mosaic Trnst. Actlon Space, Tin Tabemacle, TFL. GW HaAesden High Street & s￿di0 Voltaire Page 8

Metroland Cultur• Limited IA comparty limited by guarantee) Trustees. report {continuedl For the year ended 31 March 2022 Strategic report {continued} a. Going concern After making appropriate enquiries. the Twstees have a reasonable expectatson that the Charity has adequate resources to continue in operational existence for the I0￿seeable future. For this reason, they continue to adopt the going concern basis in preparing the financial ststements. Further details regarding the adoption of the going ￿nCern basis can be fountl in the accwnting Wi(aes. b. Reserves policy The reserves. represents'ng funds available for projects. had an openry bala￿e of £71X).990 available funding at the start of the year which has increased to £724.7T8 ￿presentIng the fLJnding reqUI￿d lo Complete delivery of Ihe projects. All excess funds wll b8 invested in delivering Fwects that are in keeping with Metroland's objectives and for the benefit of the Brent community. As outlined in the RISK chapter. the Board wll seek to grow ils reserve5 until Éi is al ￿51 equal to 3 months, operating costs in future ye8rs. Flnan¢lal review 2021122 w8S the Ihird year of independent operavons for Lhe Melroland Culture team after its incorporation 88 stsnd alone charity. Metroland Cumure uses the Zero system and has estsblished controls which are supported in knnd by the Counol. All expenditure over £25,(MX) and be￿nd what was agreed al board leve1. Its activity focused on establishing Metroland's programme independenl of the Borough of Culture. The N8tional Lottery Communities Fund contributed £130.000. Brent Counul contributed £4(KI.000 and additional funding was utilised from reserves. The costs lor managing the projects were all Ireated as reslricted expenditure linked direclly to the commissioning of the agreed events arKI community interactions and were noted as incurred against the revenue received within the year. Total incoming resources amounted to £593.906 compared wth tolal expenditure of £570.118 and a surplus of £23.788. This is largely explained by Ihe nature of ihe cash flow accounting system used for our projects which recognised income and expenditure for projects at the time received or expended rather ¢x¢ an accruals basi5 and which was supported by Brent Counul. Principal Funding Sour¢e and Furtdrai$ing The third year has been delivered Ir￿ependen￿Y of B￿nt Counul who previously supported us with a team, HR advice and Fin8n¢i81s systems in kind. They remain an important fvnder ar￿ we p￿sent regular updates on the progmmme and hear suggestions from the funder5. The National Loltery Community Fund and John Lyons 8re irnportanl corilribulors to the wc4ramme and we hold regular meetings with our relationship rnanagers. Fundraising Fundraising is led by the Director, 5UPPOrted by Fundraising consultant Batbara O'Brien. Metroland Culture is not currently part of a voluntary fundraising regulatory scheme and has nol raise(I funds from individuals in Ihis period. No compla￿ts have been received in the peri(xJ and Metroland has a robust Safeguarding policy to otect children and wlnerabte adufts from behaviwr ift CA)nneclion with activities. including ftjndraising. Page 9

Metroland Culture Limited IA company limited by guarantee) Trustees. report l¢ontinuedl For the year ended 31 March 2022 c. Financial risk management objectives and policies The Board of Trustees has conducted a review of the major risks to which the tharity is exposed. this review is presented to the Board. A risk register has been established and is updated bi-annually and reviewed in each TDJstees meeting. Where appropriate. sWems or procedures have been established to mitigate Ihe risks. The Risk management strategy comprises.. annual review by the Tnjstees of the risks the carity may face". quarterty meeting of a Finan￿. Audrt 8nd RISK Committee to review RISK Register and financial and operational risks to the organisalion annual review of the chariws finances." annual review of the genernl purposes of the charity and of the charitys business continuity plan. establishment ar￿ ongoing review of the Charitvs risk ￿giSter. implementation of procedures designed lo minimise any polential impact on the charity should those risks rnaleriali5e. A key elemenl in the management of finanaal risk is the creation and expansion of a general unrestricted reserves pdicy and its regular review by Trustees. The Trustees have an ambition to accumulate general reserves, until these reserves ￿present at least 3 months, worth of core operaling costs, which is in line with Charity Commission recommendations for an organisalion of this size. Thg main risk to the charity ¥￿VId be failure by the management team to syoduce successful programmes that attract audiences and parti¢ipants from Ihe prioritised dem(wJraphi¢ sector in Brent leading to the loss of sponsors or funders. To that end, the Board requires regular and comprehensive reporting and evaluation of the executive team's efforts at board meetings. As part of lis assessment of risk. it is the Board's expectation Ihat projects could fail and it encourages Ihe experimental and enterprising approach tsken by the leadership team. The Board consisls of individuals who bring extensive experience in the obje¢ts'ves of the Charity and support the delivery team to navigate Ihese risks. The Board is deeply grateful lo the London Borough of Brent that conb.nues lo support our efforts, and has supported the charity to e5tsblish itself. However. we do recognise the need for Metroland Culture to continue to support and promote their individual and collective inits"atives in the cultural field if we are to ensure their support In years to come. This area of risk is subjed io ￿9￿L￿r re￿eW by the BoarL1. Structur• govwnance and management a. Constitution IAetroland Culture chartty is a wmpany limited by guarantee wlh no share capital. None of the Trustees has any beneficial interest in the ¢omp8ny. Melroland Culiure charity business is conducted under the fr8m&work of ils goveming Memorandum and Artides of Associats"on. prepared under the Companies Act 2CQ6. The Trustees. as charity trustees. have control of the Charity arKJ its property and funds. Page 10

IAetroland Culture Limlted IA company limited by guarantee) Trustees. report (continued) For the year ended 31 March 2022 Structure, governance and management Iconlinuedl b. Methods of appointment OT election of Trustees The Trustees when complete ￿sISt of up lo 15 indN+duals over the age of 18. all of whom must support the charitable companls Obj'ects. All other trustees shall be 'Appoinled Tru￿ee$. selected by the Trustees from time to time. They may be a rewesenlative of or for a Local Authority or funders. are apF)oinled for a fixed term (such as the dLJration of a significant grant) or of on8 year and retire automatically gt that time bul may offer themselves up lor reappointment. A trustee may not act as a TnTStee unless helshe ha5 sNJned a vnrtten dedaration of wllingness to act as a Charty trustee of the Ch8nty and Ihe Parti¢ipab"ng Local Aulhority has the right from time to time ané al any lime to appoint one Trusiee for 8 fixed lerrn of one year, or such other period as may be set by the relevanl Participating Local Authority prior to their appointment. A Nominaled Trustee may b8 removed al any lime by the Participating Local Authority who appointed himther. Inducts"on and training of Truslees is undertaken by providing new Trustees wth copies of the Memorandum and Articles of Association, policies of the organisation. risk register. the last available annual report and accounts. current management accounts. budgets and relevanl Fundraising and other reports as well as a copy of the Charity Commission's Charitable Purposes and Public Benefits documents together wth the guide to the role and responsibililbes of tharily Iwstees. The induclion programme is designed to ensure that Board hlembers are familiar with their responsibilities, both legally and opeotionally, that they understand the constitutional an¢J financial framework within which Metroland Culture operates. 8nd that they have a good ￿r￿erStandIng of the Companys strategic objectives. The D1￿Clor provides irilr(%Juctions to other Tnjstees. Metrojand staff. policies and procedLJres as required. c. Oryanisational structure Metroland Culture maintsins a small staff all jear rwnd induding the D1￿ctor and 7 additional roles across Curatorial, Producing, operati￿$, Marf(eling & Comrnunicalions and Administration. During Metroland's key a¢tSVity periods, temporary Staff members may be engaged lo support the delivery and management of the programme. The Bo8rd delegates da￿t￿daY running of the organisakn.on and the achievement of its strategic inlervenlions to the Executive Director and the Head of Programrnes. The Board also prowdes support through ad-hoc advisory on marketing, programming. youn9 people. furHJraising, govemance and HR from lime to lime. Plans for future periods Going into 2022123 a key objective of Metroland wll be to grow and maintsin relationships and firmly establish Brent as a visitor attraction and culiural capital in London. It will work to a 4-year plan to secure a successful legacy of Brenfs year as the Borough of Culture by buikYiNJ on the projects and relationships built over 2021. 11 - will fvndraise, maximise and leverage new partnerships with ar)d for the community and Council to celebrate Brent's cultural heritage and grow ils creative futu￿. Through a Visual Arts and Music Bbennial it will present outward faang programmes to plarform stories and artists to local. nab.onal and international aLTrdience5 In addition, Metroland Young Associates wll continue to offer a 5-monih ski11s and careers development programme to young people from B￿nt who want to work in the arts and the creative industries. In order to achieve this as a sustainable offer in the boiough. Metroland needs investment while it establishes itself as a viable model. The next finanoal year will focus on the development of Metrdand's programme and offer lo Brenl communities over the 4 years. Proposed acts.vity over the nexi 4 years cover iwo Visual Arts Biennial. one Music Biennial and 4 cohcrfts of Metrcland Young Asswates and Peer to Peer. Page 11

Metroland Culture Limited IA company limited by guarantee Trustees, report (continued) Foff the year ended 31 Ma￿h 2022 ststement of Trustees. r8sponsibilities The Trustees Iwho are also the ¢Jireclors ol the Charity for the purposes of company lawl are responsible for preparirvJ the Twslees, report induding the Strategic report and the financial slalemenls in ac¢ordan¢e with applicab￿ 18w and United Kingdom Accounb"ng Standards {Unite(l Kingdom Generally Aceepled Accounting Pr8Cticel. Company law requires the Trustees to prepare financAal statements for each finanoal year. Under company law. the Trustees must r￿1 approve the finanaal statements unless they are satisfied that they give a true and fair view of Ihe stale of affairs of the Charity and of its incoming resources and applicati￿ of resources. including its income and expendilure. for that period. In preparing these financial statements, the Trustees are required to.. seled suitable accounting poliues and then apply them consistently.. observe the methods and prinuples of the Charities SORP IFRS 102): make judgments and acc(yJnling e51imales that a￿ ￿asOnable and prudent- state whether applicable UK A(tounting Slandards {FRS 1021 have been folbwed, subje¢l to any material departures disdosed explained in the finanaal statements., wepare the finanual ststements on Ihe going concern basis unless it ts inaprwate to presume thal the Charity wll continue in bjsiness. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose wth reasonable accuracy at any time thè fin3nLial position of the Charity and enable them lo ensure that the financial statements comply wth the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other i￿egUlaritIeS. in preparing this report, the Trustees have taken advantage of the sman cDmpanies exemptions. Disclosure of infonnation to auditors Each of the persons who are Tnjstees at the time when this Trustees. report is approved has eonfimed that.. so far as that Trustee is aware. there is no relevant audit information of vthich the charitys auditors are unaware, ané that Trustee has tsken all the steps that ought to have been t8ken as a Truslee in order lo be 8ware of any relevant au(Jit infomiation and to establish that the chartys auditors a￿ aware of that infomialion. Approved by order of the members of the b)ard of Trustees and signed on their behalf by. K Hirani Chair of Tnjslees Dale.. 21 DecÈmber 2022 Page 12

Metroland Culture Limited IA company limited by guarantée) Indeyndent auditors. report to the Members of Metroland Culture Llmited Opinion We have audited the financial statements of Metroland Cullure Limited Ith8 'charitll for the year enLYed 31 March 2022 which comprise the Statement of finanual actiwties. the Balance sheet, the Statement of cash flows and the related notes, including a summary of signtfi¢ant awunting policies. The finanaal reporting framework that has been applied in their preparation is applic2bl@ law and United Kingdom Accounting Standards, induding Financi81 Reporting Standard 102 The Finanaal Reporting Standard applicable in the UK and Republic of Ireland. {Uniled Kingdom Generally Accepted AcLounting practi￿). In our ¢Jpinion the finanaal slalements.. gwe a Irue and fair wew of the stale of the chanlable c4npanls affairs as al 31 hAarch 2022 and of its in¢oming ￿SoUrceS and application of resources, induding its inccmne and expenditLJre for the year then ended., have been propedy prepared in accordance United KingdLNm Generally Accepted Accounling Practice.. and have been prepared in accordance with the requirements of the Companies Ad 2006. Basis for opinion We conducted OLbr audit in acccydance wth Intemational Standards Auditing IUKI {ISAs IUKII and applicable law. Our responsibililies under those standards are fitrrther describeij in the Auditors. responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audil of the financial statements in the United Kingdom. including the Finanaal Reporting Council's Ethical Standard. an(J we have fulfilled our other ethical responsibilib'es in accordance with these requirements. We believe thal the audit evidence we have obtained is sufficient and appropriate to prowde a basis for our wnK)n. Concluslons r•latSng to going conurn In auditing the finan(#al statements. ¥￿ have ￿nduded that ihe Trustees, use of the going concern basis of accounting in the preparation of the financial ststements is appropriate. Based on the work we have performed, we have not identified any material unCertaint￿S ￿lating to events or conditions that, individually or collectively, may cast significant doubt on the charitable companls ability to continue as a going concem for a period of al ￿a$1 fv*lve months from when the finanaal statements a 8Uthorised for issue. Our responsibilities and the respon￿bIlItieS of Ihe Trustees wth respect lo wng eoncem are destxbed in the relevant sections of this report. Page 13

Metroland Culture Limited {A ¢ompany limited by guarantee) Independent auditors. report to the Members of Metroland Culture Limited Icontinuedl Other information The other information comprises the informab.on induded in the Annual report other than the financi81 statements and our Audiiors. report thereon. The Trustees are responsible for the other infomation contsined within the Annual report. Our ow'nion on the finanaal statements does not cover the other infomalion and. except to the extent olhemse expliatly stated in our report. we do not express any form of assurance conclusion thereon. Our responsI￿'11ty is to read Ihe other information aThl. in doing so, consider whether the other informalion is materially inconsistent wlh the finanaal ststements or our knowledge obtained in the course of the audil. ly othe￿ise appears to be materially misslaled_ If we identify such material In￿nsistenC1eS or apparent malerial misslatements, we are requir811 lo determine whether thi5 gives rise to a material misstatement in the financial statements themselves. If. based on the work we have perforrned. we conclude that there is a material mi5Stalement of this other infomiation. we are required to report th* fact. We have nothing to report in this regard. OpSnlon on other matters prescrlbed by the Companies Act 2006 In our opinion. based on the wod( urKlertaken in the c(xJrse of the audit.. the infom)8tion given in the Trustees. rewrt including Ihe Strategic report for the financial year for which the finan(ial statements are prepared is tX)nsislent vthh the financial stslements. the Trijstees. report and the Strategic ￿port have been p￿Pared in accx)rdan¢e wth applicable legal requirements. Matt•rs on which we are requlred to report by excÈption In the I￿ht of our knowledge and underslanding of the charilable company and ils enwronment obtained in the course of the audit. ￿ have kfjents'fied material misstatements in the Trustees, report including the Strategic report. We have nothing lo report in respect of the following matters in relation to whith Companies Act 2006 ￿quIreS us to report to you rf. in our opinK)n-. adequale accounting records have r￿1 been kept. ￿ retums adequate for Ouf audit have not been received from branches not visitety by us", or the financial siatements are not in agreement ￿t￿ thè a¢rxJunting records and retums-, or ¢ertain disdosures of Trustees. remuneration specified by law are not made", or we have not received all the infomiation and explanations we require for our audit.. or the Trustees were not entiued to prepare the financial statements In accordance with the srnall companies regime. Page 14

Metroland Culture Limlted IA ¢ompany limited by guarantse) Indep8ndent auditors. report to the Mèmbors of Mètroland Culture Limited Icontinuedl Responsibilities of trustses As explained more fully in the Trustees. responsibilities statement. the Tru51ees (who are also the directors of the charitable company for the purposes of company law) are responsib￿ for the preparation of the finan¢i81 statements and for being satisfied that they give a true and fair wew. and for Such intemal control 8$ the Tnjstees detemiine is necessary to enable the preparation of finanaal statements that are free from malerlal misslalement, whether due to fraud or error. In preparing the financial slatemenls. the Trustees are responsible for assessing the Charitable companls ability to continue as a g(yng con¢em, disdosing. as applicable. matters related to going cOn￿M and using the going wncern basis of accounting unless the Trustees either intend to liquidate the ¢harrtable company or to cease opwations, or have no realistic altemative but to do so. Auditors. responsibilities for the audit of the financial ststements Our obje¢lives are to obtain reasonable assurance ab￿t wthether the financial slatemenls as a th)le are tree from material misstaternenl, whether due to fraud or error, arKI to rssue an Auditors, report that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee thal an audit conducted in accordance with ISAS {UKI wll a￿ayS ¢Yetect a material misststèment when it exists. Misstatements can arise from fraud or error and are considered maierial rf. indiwdu8lly or in the aggregate. they could ￿aSOnablY be expected to influence the economic decisions of user5 iaken on the basis of these financial statemenls. Irregularities, including fraud, are instsn¢es of non-compliance with laws and regulations. We design procgdures in line with our respofisibilities, ouuined aljove, to ¢Jele¢l material misststements in respect of irregularities, induding fraud. The extent to which our pr(￿d￿reS are capable of dotecb.ng tr￿g￿lantIeS. including fratKI is detailed below.. Our approach to itjenttfw'ng ancl assessing the risks of material misststement in ￿SpeCt of irregularities. including fraud and non-compliance wth laws and re9ulab"ons. was as follows". Ihe senior statLrtory auditor ensured Ihat the engagement team ￿￿leCtive[Y had Ihe appropriale competeno, capabilities and skills to identify or recognise non-complian￿ wth applicable laws and regulations.. we identified the laws and regulations applicable to Ihe company through discUss￿nS with directors and other management. and from our commercial knowledge and experience of the tharity 5eclor,' we focused on specific laws and regulab.ons which we wnsidered may have a ￿1￿ct materièl effect on the financial statements or the operations of the company. including the financial reporting legislation. Companies Acl 2(K16, tsxation legislati￿. anti-bFibery. employment, and enmronmental and heallh and safety legislati¢)n- we assessed the extent of compliance ￿th the laws and regulations identified aiK)ve through making enquiries of management and inspecting legal correspon¢Jence' and identsfied laws and regulations were communicated ￿thin the audit team regularty and the leam remained alert to instances of non-compliance throughout the audit. We assessed the SUS￿p￿bIIty of the companls finanaal ststements to material misstslemenl. induding obtaining an understsnding of how fraud miohl occur. by. making enouiries of management as lo Whe￿ they cL)nsidered there was su$￿pIlbIlity to fraud, Iheir knowledge of aciLJal. suspected and alleged fraud.. and nsidering the inlemal controls in place lo mitigate risks of fral￿ and n￿-cOmpliance wlh laws and regulations. Page 15

Metroland Culture Limited IA company limited by guarantee) Indepèndènt auditors. report to the Mam￿rS of Metroland Culture Limited (continued) To address the risk of fr8ud through managernenl bi8s and override of cthitrols, we.. perforned analytical [￿edureS to ￿entify any unusual or unexpected relationships.. tested joumal entries to identrfy unusu81 transa¢tions-. assessed whether judgements and assumptions made Nl detem)ining the ac£ountsng estimates were indicalive of potential trAas" and investigaled the rationale behind signifi¢xnt (w unusual transacti(￿$. In response lo the risk of irregularities and rvJn-LxJmpliance with laws and regulations. we designed prwjutgs which induéed. but were not limited to.. agreeing financial statement disdosures to undety'ng supporting ￿0￿m￿ntall0rt,' reading the minul¢s of meetings of those ¢harged with govemancE'. enquiring of management as to actual and potential litigatson and claims., and reviewing correspondence %wth HMRC. relevarbt re9￿￿torS and the companls ￿gaI advisors. A further descripts'on of our responsitm'lities for the audii of the financial statements is located on the Financial Reporting Council s website al: www.frc. klaudilorsr onsibilities. This description forms part of our Audilors. report. Use of our report This report is made solely to the charrtable cornpanys members, as a body. in accordance wth Chapter 3 of Part 16 of ihe Companies Act 2006. Our audil work has been undertaken so that we ffl￿h1 Stale to the charitable companls members Ihose matters we are required to state to them in an Auditors. report and for no other purpose. To the f¢Jllest extent pemiitted by law. we do nol accept or assume responsibility lo anyone olher than the charitable company and its members, as a body. for our audit work, for this report, or for the opinions we have fomed. Jonathan Dudley Isenior Ststutory auditor) for and on behalf of Dains Audit Limited Sialulory Auditor Chartered AceA)untants Suite 2. Albv)n House 2 Etruria Office Village Forge Lane Stoke on Trent ST1 5RQ 21 Oecember 2022 Page 16

Metroland Culture Llmtted IA company limited by guarantee) Statement of finan¢ial activities (incorporating income and expenditure account) For the year ended 31 Mar¢h 2022 Unrestri￿td funds 2022 Restrl¢ted nds 2022 Total funds 2022 Total funds 2021 Incom• from: Donations and legacies Charitable activities Other income 1.814,789 627,533 291.669 121.930 471.976 593.906 Total income 121.930 471.976 593,906 2.733.991 Expènditure on- Raising funds Charitable aclivilie5.. Arty'sli¢ Programmes and Events Other Community Engagement 17,450 17.450 800.711 82.940 432.932 36.796 515.872 36.796 1,261.319 36.768 Totsl expenditure 100.390 469.728 570.118 2.098,798 Net movem•nt in funds 21,540 2,248 23.788 635,193 Re¢on¢iliation of funds- Totsl funds brought forward Net movement in fjjnds 700.990 21.540 700.990 23.788 65.797 635.193 1248 Total funds carried forward 722.530 2,248 724,778 7CK),990 The Statement of finanoal activit* includes all gaffts and losses rewgnised in the ￿al. The noles on pages 20 to 32 form part of these finanaal statements. Page 17

Metroland Culture Limited IA company limited by guaranlee). Company number: 11876428 Balance sheet As at 31 March 2022 2022 2021 Note Fixed a$set$ Tangible assets 12 8.107 8.107 Current assets Debtors Cash al bank and in han(J 13 319.354 991.109 720.￿7 519.591 1.310.463 1.240.498 Credrtors.. amounts falling due within one year 14 {593.7921 1539.508) Net current assets 716.671 7¢￿,990 Totsl assets less current liabilltS8$ 724,778 700,9 Total n•1 assets 724,778 700,990 Charityfunds Restricted funds Unrestrrcled fvnds 15 2.248 722.530 15 700.990 Total funds 724.778 700.990 The financial statements have been wepared in 8eLordance the proviwns applicable to entities subjecl to the small companies regime. The financial statements We￿ approved and aulhorised for issue by the Tnjstees and slgned on their behall by.. K Hirani Chair of Trustees Date.. 21 Decembèr 2022 The notes on pages 20 to 32 form part of these ffinancial statemenls. Page 18

Metroland Culture Limltsd IA company limited by guarantee) Statement of cash flow$ For the year ended 31 March 2022 2022 2021 Cash flows from operating activities Net cash provided by operating actiwties- see note 16 482.328 449.323 Cash flows from Inv8Sting a¢tlvitles Purchase of tsngible fixed assets {10,810) Net cash (used inllpr¢)vided by investing activities {10,810) Net cash provided by financing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginniro of the year 471,518 449,323 70.268 519.591 Cash and cash equivalents at the end of the year 991,109 519.591. The notes on pages 20 10 32 form part of these financial statements Page19

Metroland Culture LIM￿ad (A Company limited by guarantsel Notes to th¢ finan¢ial statements For the year ended 31 Mar¢h 2022 Gen•ral infomiation Metroland Culture Limtte¢J is a company limited by guarantee in the United Kingdom_ In the event of the Chairty being wound up, the liability in respect of the guarantee is limited to £10 per member of the Charity. The address of the resisted office is given in Ihe charity information on page 2 of these financial stalements. The nature of the Chaiitls operations and principal activities are sel oul in the Report of the Trustees. Accounting policies 2.1 Basis of preparation of financial ststements The financial ststemenls have been prepared in ac£ordance &￿th the Charities SORP IFRS 1021- Accounting and Repo￿n9 by Charities.. Slatement of Recofflmended Practice applicable to charities preparing their accounts in accordanGe with the Financial Repo￿ng Stsndard applicable in the UK and Republi¢ of t￿land IFRS 1021 leffeGb"ve 1 January 20191, the Financial Reporting Standard applic8lJe in the UK and RepublK of Irelancl {FRS 102} and the Cornpanies Act 2006. Metroland Culture Limited meets the definits.on of a public benefrt entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless olhervJise slated in the relevant acc￿nting w)li¢y. 2.2 Going concem The Tnjstees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may CASt significant doubt on the ability of the charity lo continue as a going cOn￿M. The Truslees make this assessment in respecl of a peri¢)J of at least one year from the date of authorisation fr)r issue of the financial statements and have conduded that the academy trust has adequale resources to continue in operational existence for the foreseeable futu￿ and the￿ are no material uncertainties about the academy trust's ability to )ntinue as a going CA)ncem, thus they ￿ntinue to adopt the going Concem basis of accounting in preparing the finanaal statatements. Page 20

Metroland Culture Llmlted (A ¢ompany limited by guarantee} Notes to the financial statements For the year ended 31 Mar¢h 2022 Accountin9 policies {continuedl 2.3 Income All income is rectsJnised once the Charity has entitlement to the in(x)me. it is probable that the income wll be received and the amount of in¢ome receivable can be measured reliably. Such income is only deferred where the donor has speufied that the grant or donation must be used in a future accounting period. Grants are irduded in the Statement of financial activities on a receivable basi5. The balance of income received for specific purposes but nol expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt. its cognition is deferred and induded in creditors as deferred income. Where entitlement occurs before income is received, the income is accnjed. Donated semces facilities. inctuding amounted funded d1￿CtlY by the London Borough of Brent. are recognised at their estimated value lo the Charity where Ihe value is measurable and quantifiable. Where a basis of valualion is required. this is the price the Charity estimates It would pay in Ihe apèn market for a service or facility of equivalent utslity. whe￿ a grant has been m8de for the Chartys benefrt by another grant funder to London Borough of Brent. a gift in kind is reu)gnised for these services th* granl ha5 fundeé. Other ineome is ￿¢(￿nised in the per￿1 in whith it is receivable and lo the extent the 9oods have been provided or on cornpletion of the servi￿. 2.4 Expenditure Expenditure is recognised once there is a legal or (x)nstructive obligation to transfer economic benefit Io 8 third party, it is probable thal a transfer of economic benefits will be required in settlement and the amount of the oblMJath)n can be measured reliabty. Expenditure is classified by activity. The cosls of each actNity are made up of the total of dwect costs and shared costs. including support costs invdved in undertaking each activity. Direct costs attributable to a single activity are allocated direcdy to Ihat activity. Shared costs which contribute to more than one activity and SUPFM)rt costs which a￿ not attributable to a single actiwty are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated the basis of time spent. and de￿ciatiOn tharges allocated on the portion of the asset's use. Expenditure on rnising funds indude5 all expendilure incurred by the Charity to raise funds for ils chariialAe purposes and indudes costs of all fundraising activits.es events aNJ non-tharitsble Iradin9. Expenditure on ¢h8rttable activities rs incJJrred on dir&tly undertaking the actrvifres which further the Charitys objectives. as wdl as any asscmiated support costs. SuprM)rt costs represent ￿ntral funcb.on costs. governan￿ (x)sts and ovetheads and have been allocated between activtbes using an apportr"onment percentage ol(yJlaled by comp8ring ihe direct costs 8ttributsble lo eath of those categories in the year. Page 21

Metroland Culture Limited {A company limited by guarantee) Note5 to the financial statements For the year ended 31 March 2022 Accounting polt¢ias {continued) 2.5 Taxation The Charity is ￿nSIdered to pass the tests sel cMJt in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definiknon of a charitable company for UK CL)rporalion lax purposes. AGGordingly, the Charity is potentially exempt from taxats.on in respect of income or capitsl gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent Ihal such income or gains are applied exdusively to charitable p￿r￿seS. The Charity ts registered for Value Added Tax (VATI: iffecoverable VAT {where applicablg) is induded in the Cost of those items lo which it relates. 2.6 Tangible fixed assets and depreciation Tangible fixed 8ssels costiNJ £1.(￿7 or more a￿ Caprtalised 8nd ￿¢(gniSed when futu￿ economic benefits are probable and the cost orvalue of the asset can be measured reliably. Tangible fixed assets are initialty rec¥Jgnised 81 eost. After recognition, under the cost model. tangible Iixed assets are measured at cosl less accumulated depreciation and any accumulaled irnpairment losses. Al costs inojrred to bring a tangible fixed asset into its intended working C￿n(jrt10n should be induded in the measurement of cost. Depreciation is tharged so as to althate the cost of tangible fixed assets less their residual value over Iheir eslirnated LFseful lives. using the straight-line method. Deprecialion is provhled on the following basis.. Computer equipment 25% * cA)st 2.7 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.8 Llabllltles and provisi¢>n$ Liabiliti"es are recognised when the￿ is an oblNJalion at the Balanca sheet date as a result of a past event, it is probable that a Iransfer of economic benefit will be required in settlement, and the amount of the setuwnent be estimated reliabty. Liabilities are recogniseil al the amount that the Charity antiupales it wll pay lo settle the debt or the amount il has received as advanced pa￿nents for the goods or services it must provide. 2.9 Financial instruments The Charity only has finanoal assets an¢J financial liabilities of a kind that qualify as basic financial instruments. Basi¢ finanual instruments are initially recognised al transaction value and subsequenuy measured al their settlement value wth ihe exception of bank loans which are subsequenly measured at amortised cost u&ng the effective interest method. Page 22

Metroland Culture Llmited IA company limited by guarantee) Notés to thè financial ststements For the year ended 31 March 2022 Accountin9 policies (continu8dl 2.10 Pensions The Charity operates a defined u)ntritNJbon pension scheme and the Pensi￿ charge represents the amounts payable by the Charity to Ihe ftjnd in ￿SpeCt of the year. 2.11 Fund accounting General funds are unrestricted furKls whhth are available for use al the discretion of the Trustees in furtherance of the general objectives of the Charity and vthich have not been desunated for other purposes. Restricled funds are funds whith are to be used in accordance vrth specific restrictions imposed by donors or which have been raised by Ihe Charity for particular purposes. The costs of raising and adminislefing such funds are charged against th8 spèufi¢ fund. The aim and use of each restricted fund is set out in the notes lo the finanoal stslemenls. Critical accounting èstimatès and areas of judgment Estimates and judgments are ￿ntinUallY evaluated and are bdsed on hislorical experience 8nd olher factors, induding expectati￿$ of futu￿ events thai a￿ believed to be reasonable under the ar￿1￿$tanceS. Cn"tical accounting estimates and 8ssumpb"ons: The Chafity rnakes estimates and assuinplions Con￿mIng the future. The resulting accounting estimates 8nd assumptions will. by deffinilion, seldom equal the relateil actual results. There are no esiimales or judgements th81 have a material effect on amounts recognised in the financial statements. Income from donations and legacies Unrestricted funds 2022 Totsl funds 2022 In kind funding from London Borough of Brent Grant funding r￿1Ved by London B¢ycwgh of Brent Page 23

Metroland Cufture Limtted IA company limited by guarantee) Note5 to the financial statem¢fits For the year ended 31 March 2022 Income from donation$ and legacies Icontinuedl Unrestricted funds 2021 Total funds 2021 Grant funding r¢¢eiv¢d by London Borough of Brent Greater London ALJihority Paul Hamlw) Foundation NLHF Quintain Infosys 450,000 193,000 250.000 200,000 125.(￿)0 450,000 193,000 250,000 200,000 125,000 1.218.000 1,218,000 In kind funding from London Borcyjgh of Brent 596.789 596.789 1,814.789. 1.814.789 Incomè from charitsble activities Unrestricted Restricted funds funds 2022 2022 Total funds 2022 N8tion81 Art Gallery Quinlain Arts Council London Borough of Brent Art Fund John Lyon's Charity National Lottery Communty Fund Other grants 120.000 400.000 520,000 20.000 51.976 20,000 51,976 1.930 1.930 121.930 471.976 593,906 Page 24

Metroland Culture LSmited IA company limited by guaranlee) Notes to the financial statements For the year ended 31 March 2022 Income from charitable activities (continued) Unrestrlcted Restrlctsd funds funds 2021 2021 Total funds 2021 National Art Gallery Quinlain Arts Counul London Borough of Brent Art Fund John Lyon's Charity 9.000 125.( 9,0 125.000 60.000 330.533 63,000 40,000 330.533 63.000 40,000 524,533 103,0(K) 627.533 Other in¢oming resources Total funds 2022 Sponsorship contracts Interest Unrestricted funds 2021 Total funds 2021 SFonsorship cwtrac15 Quintain St Georges Network Homes 150,CKK) 83,335 16,666 41,666 150,000 83,335 16.666 41.666 Wates Inlerest 291,669 291,669 Page 25

Metroland Culture Llmited .{A company limited by guarantee) Notès to the financial statements For the year Ènded 31 March 2022 Expenditur• on raising funds Ralslng fvnd$ expenses Unrèstrictèd funds 2022 Total funds 2022 Raising fvnds 17,450 17,450 Unrestricted funds 2021 Total funds 2021 Rai￿n9 fun¢Js 800.711 800.711 Analysis of expenditure by actsvities Support ¢ost$ 2022 Total funds 2022 Direct costs 2022 Other Community Engagement Artistic Programmes and Events 36.796 390.844 36.796 515,872 125.028 427.640 125.028 552,668 Page 26

Metroland Cullure Llmited. IA company limited by guarantse) Notes to the financial statements For the year ended 31 March 2022 Analysis of expenditure by activities {continuedl Support Costs 2021 Totsl funds 2021 Direct costs 2021 other Community Engagement Artistic Programmes and Events 11.250 385.934 25,518 875.385 36,768 1.261,319 397.184 900,903 1.298,087 Analysis of Support C¢sts Raising Charitable funds activities 2022 2022 Tatal funds 2022 Costs of intliwduals ern￿Oyed by the C￿￿￿1 Consultancy Overheads Audit 17.450 33.413 82,515 9.100 50,863 82,515 9,100 17.450 125.028 142.478 Raislng Charitable funds Activities 2021 2021 Total funds 2021 Cost of individuals employed bythe Council Consultancy Overheads Audit 473,426 47,908 34.378 765,908 77.206 47,259 10.530 1,239.334 125.114 81.637 10,530 555.712 900.903 1,456.615 Support costs are allocated on a basis consistent with the use of resources. Page 27

M8troland Culture LimSt8d (A company limited by guarantee) Notes to the financial statements For thè year ended 31 March 2022 10. Staff costs 2022 2021 Wages and salgries Social seuJrity costs Contribution to defined contn"bution ￿nsion schemes 89,865 4.324 1,073 3,590 95,262 3.590 The aver8ge number of per%)ns emplo￿ by the Charity during the Jear was as follows.. 2022 No. 2021 No. Employees No employee received remuneration amounting to more than £60,(M)O in either year. Trustees. remuneration and expensès During the year. no Trustees receive(l any ￿M￿neratIOn or other benefits12021 - £NIL). During the year ended 31 March 2022, expenses lotslling £Nil were reimbursed or paid directly lo no Truslees {2021- £Nill. 12. Tanglble fixed assets Computer equipment Cost or valuation Additions 10,810 At 31 March 2022 10,810 Oèpreclatlon Chafge for the year 2,703 At 31 March 2022 2.703 Page 28

Melroland Culture Llmlted IA Company limited by guarantee) Notes to the financial statements For the year ended 31 March 2022 11 Tangible fix￿ assèts Icontinuedl Computer equlpm8nt Net book value At 31 March 2022 8,107 At 31 Marth 2021 13. Debtors 2022 2021 Due wlthin one year Amount due fr(Nn Brent c￿n¢11 Othèr debtors Prepayments and accrued inccrtne .32A,107 179,600 213,200 149,600 169.754 319,354 720,907 14. Crèditors: Amounts falling due within one yèar 2022 2021 Trade creditors 192,039 83.786 196.003 121.964 149.805 71,533 207,933 110,237 Othèr taxation and social secAJrity Other Creditors Aceruals and deferred in¢£Jme 593.792 539,508 Page 29

Metroland Culture L'imited IA ¢ompany limited by guarantee) Notes to the financial statements For the year ended 31 March 2022 15. Statement of funds Statsment of fund$ - Current year Balance at 31 Mar¢h 2022 Balance at 1 April 2021 Income Expenditure Unrestricted funds Unrestricted lunds 700,990 121.930 1100,3901 722,530 Restri¢ted fvnds John Lyons National Lottery Community Fund Legacy of Brenl Cullure Fund 20.000 51.976 400.000 {20,0001 {51,9761 (397,7521 2,248 471,976 1469,7281 2,248 Totsl of fund5 700,990 593,906 {570,1181 724.778 Unrèstricted funds The general fvnds represent the unresiricte¢J funds of the c*arity that are not designated for particular purposes. Restricted funds John Lyons - Funds received speafically for supportiThJ Metroland w)ung asswates programme. National Lottery Communily Fund - Fund ￿Ceived speciffi¢xlly for SUp￿lIng community engagement work and development opportunities across Ihe programme. Legacy of B￿nt cultu￿ Fund - Fund receiwj speufically for supporting Metroland estsblish a cultural offer in Brent post the Borough of Culture. Page 30

Metroland Culture Limited IA company limited by guarantee) Notes to the financial statements For the year ended 31 March 2022 15. Statement of funds {¢ontinuedl Statement of funds - prior year Balance at 31 March 2021 Balance at 1 April 2020 Transfers inlout In¢ome Expenditur¢ Unrestricted funds Unrestricted funds 65.797 2.630.991 {1.852,0441 (143.7541 700,9 Restrictèd funds Biennial (Arts Fund) Blueprint (John Lyons Charity) 1207,051 } (39,7031 144,051 {2971 40,000 103.000 {246.7541 143.754 Totsl oflunds 65.797 2.733.991 12.098,798) 700,990 16. R•conclllation of net movement in fvnds to not cash Ilow from opèrating activitiès 2022 2021 Net income for the year (as per Stsiemenl of Finan081 A¢b"vilies) 23.788 635,193 Adjuslments for: Deprecaation charges Decreasellinrxeasel in debto Increase in creditors 2,703 401,553 54,284 {719.4981 533,628 Net cash provided by operallng activities 482.328 449,323 Page 31

Metroland Cuhvre Lrmited IA ¢ompany limited by guarantee) Notes to the financial statements For the year ended 31 March 2022 17. Analysis of cash and cash equtvalents 2022 2021 Cash in hand 991.109 519,591 Total ¢ash and cash equivalents 991.109 519,591 18. Analysls ¢f ¢hanges In net debt At 1 April 2021 Cash flows At 31 March 2022 Cash al bank and in hand 519.591 471.518 991,109 19. Pénsion commitments The eharity operates a defined Contribut￿n pension scheme. The pension Cost charge represents contributions payable by the thanty to the fund and amounted to £1.073 12021 £nil). There were no outstanding contributions at the year end. 20. Related party transactions A trustee is an employee of London Borough of B￿n1_ The Borough met costs and provided services to the charitable company during the year totalling £Nil (2021.. £596,7891. Al the year entj, £Nil 12021.. £328,107) was due from the L(￿don 8￿￿9h of Brent in ￿lation lo these costs and services. During the year. £117.(K)O was paid to a company in whth a Iru51ee of this Charity is Ihe sole director for services prowded. At the year end. £Nil was (Ktstanding in relation to this balan￿. During the year. £23,600 was paid to a trvslee of this Charity for serwces prowijed. At the year end, £Nil was outstsnding in relation to this balance. During the year, £200 was paid to a trustee of this Charity for servic£s provided. Al the year end. £Nil was outstanding in relation to this balance. During the year, £200 was paid a company in which a tnjstee of this Charity is a director for services promded. At the year end. £Nil was outstanding in relation to this balance. Page 32