## **Charity registration number 1191900**
# **SANDS END ARTS & COMMUNITY CENTRE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **SANDS END ARTS & COMMUNITY CENTRE**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|Elizabeth Henderson||
|---|---|---|
||Kelly Bradley||
||Ann Rosenberg|(Resigned 19 October 2023)|
||Lindsey Tethal Wright||
||Jeremy Fisher||
||John Goddard - Treasurer||
||Timothy Prager - Chairman||
||Benjamin Coleman||
|**Secretary**|Elizabeth Henderson||
|**Senior Management**|Chris Newport|(Resigned on 02/10/2023)|
||Nina Von Der Werth|(Appointed on 06/11/2023)|
|**Charity number**|1191900||
|**Registered office**|Sands End Arts & Community Centre||
||Peterborough Road||
||London||
||SW6 3EZ||
|**Independent examiner**|Samir Shah FCA, ATII||
||Ramon Lee Ltd||
||Chartered Accountants||
||93 Tabernacle Street||
||London||
||EC2A 4BA||
|**Bankers**|NatWest Bank||
||8th Floor||
||1 Hardman Boulevard||
||Manchester||
||M3 3AQ||
|**Website**|www.seacc.uk||
## **SANDS END ARTS & COMMUNITY CENTRE**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees’ report|1 - 4|
|Independent examiner's report|5|
|Statement of financial activities|6|
|Balance sheet|7|
|Notes to the financial statements|8 - 17|
## **SANDS END ARTS & COMMUNITY CENTRE**
## **TRUSTEES’ REPORT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
The trustees present their annual report and financial statements for the year ended 31 December 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's constitution, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).
## **Objectives and activities**
The Sands End Arts & Community Centre (SEACC) charity (charity no.: 1191900) maintains and manages an arts and community centre for use by all the people living in or near Sands End, Fulham, London. It provides a meeting place, facilities for arts, health and well-being activities, leisure pursuits and a home for community events. The charity is run by local trustees who ensure that everyone is welcome and that the centre is accessible to all. In setting objectives and planning for activities, the trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
## **Activities during the period**
In January SEACC launched a Warm Hub in collaboration with Hammersmith & Fulham Council for members of the local community to meet one another, receive a free hot meal and take advantage of the books, games and table tennis materials we have in the centre. We also held the first ever exhibition of photographs in The Lodge.
In April we hosted BBC Radio 4’s Any Questions?, which was broadcast live from our Main Hall on Good Friday along with launching our free table tennis coaching sessions for over 60’s in partnership with London Borough Hammersmith & Fulham. May saw the Coronation of the King Charles III and we celebrated the Coronation in style in both the Walnut Tree Café and the Main Hall. People joined us to watch the ceremony together on our TV and this was followed by a free afternoon tea in the Main Hall for over 70 visitors.
As part of the Mayor’s Weekend in June we hosted ‘The Big Weekend’ - a weekend of free activity for all the family including a football tournament, cricket taster sessions and dance classes from SEACC resident DanceWest, along with live music and food and drink. We rounded off the summer with the Sherry Music Summer Twilight Music Festival that took place in the first weekend of September. Featuring a range of Masterclasses, music performances and community workshops, all activity was provided free or low-cost for the local community.
In September we also launched the Sands End Young Peoples Anthology 2023, a wonderful writing project for young people delivering in partnership with Write London and funded by Tideway, along with an event that gave everyone in our local community a chance to get a glimpse into a visually impaired person’s life and a showcase of the support available to the visually impaired and their families.
Following the departure of the outgoing CEO in October a new Director joined the centre in early November. In the same month we partnered with LBHF to host an inspiring exhibition of work created by survivors of domestic abuse as part of the councils 16 days of activism against violence towards women and girls. And then finally to December, with our range of family Christmas activities including a Santa’s Grotto, Christmas craft and card making sessions and our inaugural Community Christmas Meal, where locals were able to enjoy a 3 course Christmas dinner with one another for only £3.
We have a number of consistent and popular activities at the Centre including Tarka, Caterpillar Music, Fulham Study, Dream Fencing, Little London Music and Midaye.
Whilst our community cafe, the 'Walnut Tree Cafe' continues to provide an important inclusive space it does continue to be a cost centre and we recognise that its financial performance needs to improve.
Throughout the year the Centre offered free and substantially reduced cost space to a wide range of groups from Ashe’s popular Taekwondo for young Muslim women, to dance companies preparing new work.
- 1 -
## **SANDS END ARTS & COMMUNITY CENTRE**
## **TRUSTEES’ REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
We successfully applied for funding to form a youth Basketball Club and to develop a dedicated popular music programme for young people which will eventually include training in recording and producing music.
We have continued our policy of offering space to community groups and community meetings for no charge and have hosted resident groups, a cycling association, Police Safer Neighbourhood meetings, meetings with residents and local councillors and the constituency Member of Parliament.
## **Future activities**
We will further develop our own offering of activities, as well as continuing to support local organisations and individuals to deliver their activities, at the centre.
We will begin to manage and hire out another building within South Park as part of our hires offer and are looking to increase our hire income through introducing software and a more proactive approach to sales.
We will expand our fundraising activity to include individual giving alongside grant writing.
Working with the London Borough of Hammersmith and Fulham we plan to begin a programme to help learning disabled adults learn skills for the workplace in hospitality in September of 2024.
We plan to establish a number of regular activities, for example the Walnut Tree Café will be the home for a recurring “Jazz Café” one Sunday a month and we will be hosting and sponsoring Pétanque in the Walnut Grove each Sunday afternoon. We will work with the council to deliver another Sports Day summer offering that is free for the local community to access.
## **Public benefit statement**
In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission’s guidance on public benefit, including the guidance ‘public benefit: running a charity (PD2)’. The achievements and activities above demonstrate the public benefit arising through the charity’s activities.
## **Financial review**
The financial results for the year are set out in the Statements of Financial Activities. The charity recorded a net deficit of £37,064 (2022 – net surplus £164,771). The financial position at the year end revealed by the Balance Sheet shows net current assets or working capital of £112,798 (2022 – £164,601).
## **Principal funding sources**
SEACC has a Grant Agreement from the London Borough of Hammersmith and Fulham (LBHF) dated July 1st, 2021. Under this agreement, a provisional amount of £260,000 was made available to SEACC for expenditures to complete the fit out and fund initial running costs. Certain expenditures have subsequently been made by LBHF out of this amount on behalf of and as approved by SEACC. As at 31 December 2022, £235,000 had been drawn down directly by SEACC and the remaining balance of £6796 was drawn down by SEACC in 2023.
Going forward, SEACC plans to fund itself through income from its day-to-day activities supplemented by fundraising, grants and donations..
## **Investment powers and policy**
The trustees have considered the most appropriate policy for investing surplus funds and have found that bank deposit accounts provide the appropriate combination of security, accessibility and income growth.
## **Reserves policy**
The trustees consider it prudent to maintain an adequate level of unrestricted reserves to cover the charity’s contractual commitments and provide sufficient working capital and have set this at minimum of three months expenditure. The current level of funding is adequate to support the continuation of the charity in the medium term.
The reserves held in unrestricted funds, which have not been designated or invested in fixed assets, on 31 December 2023 were £103,573 (2022 – £156,376).
- 2 -
## **SANDS END ARTS & COMMUNITY CENTRE**
## **TRUSTEES’ REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **Structure, governance and management**
## **Governing document**
The organisation is a Charitable Incorporated Organisation (CIO), established in 2020 and registered as a charity with the Charity Commission on 20th October 2020 under registration number 1191900. The organisation is governed by a constitution based upon the Charity Commission model documentation, which sets out the objects and powers of the charity and governs the actions of the trustees.
## **Recruitment and appointment of Trustees**
The management of the charity is the responsibility of the trustees who are elected and co-opted under the terms of the Trust deed.
## **Organisation structure**
The charity is governed by a committee of trustees. Trustees hold regular meetings where performance and future developments are discussed.
## **Trustee induction and training**
The trustees maintain a good working knowledge of charity governance and best practice by regular reading of charity press articles and guidance produced by the Charity Commission and other Government and voluntary organisation advisory websites. New trustees are given copies of previous minutes and attend an induction session given by an experienced trustee.
## **Risk Management**
The main financial risk is lack of funds going forward. The financial position of SEACC is monitored each month and forecasts are becoming more accurate as we gain operational experience. As the main source of income is from room rentals, the major risk to income is another Covid lockdown or other event which impacts rental demand or room availability.
Attention has also been focussed on non-financial risks arising from fire, health and safety and food hygiene. These risks are managed by ensuring accreditation is up to date, having robust policies and procedures in place and regular awareness training for staff.
## **Related parties**
During the year there were no related party transactions.
- 3 -
## **SANDS END ARTS & COMMUNITY CENTRE**
## **TRUSTEES’ REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **Statement of Trustees’ responsibilities**
The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- 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 sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the charity's constitution. 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 irregularities.
The trustees are responsible for the maintenance and integrity of the charity and the financial information included on the charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements.
The Trustees’ report was approved and signed on its behalf by:
**Timothy Prager Chair**
## **16 May 2024**
- 4 -
## **SANDS END ARTS & COMMUNITY CENTRE**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF SANDS END ARTS & COMMUNITY CENTRE**
I report to the trustees on my examination of the financial statements of Sands End Arts & Community Centre (the charity) for the year ended 31 December 2023.
This report is made solely to the charity's trustees, as a body, in accordance with the Charities Act 2011. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my Independent Examination, for this report, or for the opinions I have formed.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Institute of Chartered Accountants of England and Wales, which is one of the listed bodies.
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
- I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
## **Samir Shah FCA, ATII**
## **Ramon Lee Ltd Chartered Accountants 93 Tabernacle Street London EC2A 4BA**
## **Dated: 16 May 2024**
- 5 -
## **SANDS END ARTS & COMMUNITY CENTRE**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**3**
-
1,000
Income from charitable activities
**4**
317,466
10,000
Investments
**5**
4,013
-
**Total income**
321,479
11,000
**Expenditure on:**
Raising funds
**6**
6,914
-
Expenditure on charitable activities
**7**
352,629
10,000
**Total expenditure**
359,543
10,000
**Net (expenditure)/income for the year/**
**Net movement in funds**
(38,064)
1,000
Fund balances at 1 January 2023
225,310
-
**Fund balances at 31 December 2023**
187,246
1,000|**Total**
**2023**
**£**
1,000
327,466
4,013
332,479
6,914
362,629
369,543
(37,064)
225,310
188,246|**Total**
**2022**
**£**
-
421,887
-|
|---|---|---|
|||421,887|
|||3,752
253,364|
|||257,116|
|||164,771
60,539|
|||225,310|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The notes on pages 8 to 17 form part of these financial statements.
- 6 -
## **SANDS END ARTS & COMMUNITY CENTRE**
## **BALANCE SHEET**
## _**AS AT 31 DECEMBER 2023**_
|**Notes**
**Fixed assets**
Tangible assets
**12**
**Current assets**
Stocks
**13**
Debtors
**14**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**15**
Net current assets
**Total assets less current liabilities**
**Creditors: amounts falling due after**
**more than one year**
**16**
**Net assets**
**Income funds**
Restricted funds
**19**
Unrestricted funds|**2023**
**£**
3,108
6,194
166,549
175,851
(63,053)|**£**
83,673
112,798
196,471
(8,225)
188,246
1,000
187,246
188,246|**2022**
**£**
2,170
19,405
167,542
189,117
(24,516)|**£**
68,934
164,601
233,535
(8,225)
225,310
-
225,310
225,310|
|---|---|---|---|---|
The notes on pages 8 to 17 form part of these financial statements.
The financial statements were approved and authorised for issued by the Trustees on 16 May 2024 and were signed on its behalf by:
**Timothy Prager Chair**
- 7 -
**SANDS END ARTS & COMMUNITY CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **1 Accounting policies**
## **Legal status of the charity**
The organisation is a charitable incorporated organisation (CIO) registered as a charity with the Charity Commission on 20th October 2020 (Charity no. 1191900). The charity is established under a written constitution that specifies the objects and powers of the charity and is also governed under this constitution.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these financial statements.
## **1.2 Going Concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
The charity’s financial statements show net deficit of £37,064 (2022 – net surplus of £164,771) for the year and free reserves of £103,573 (2022 - £156,376).
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
- 8 -
## **SANDS END ARTS & COMMUNITY CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **1 Accounting policies**
## **(Continued)**
## **1.4 Income**
All income is included in the statement of financial activities when the charity is legally entitled to it, receipt is probable and the amount can be measured with sufficient reliability.
## **Grant income**
Grants are credited to the statement of financial activities when the charity is entitled to the funds. Income is only deferred where there are time constraints imposed by the donor or if the funding is performance related.
Where entitlement to grants receivable is dependent upon fulfilment of conditions within the charity’s control, the income is recognised when there is sufficient evidence that conditions will be met.
Grants supporting the core activities of the charity and with no specific restrictions placed upon their use are included within donations and legacies. Grants that have specific restrictions placed upon their use are included within income from charitable activities.
Capital grants for the purchase of fixed assets are credited to restricted incoming resources on the earlier date of when they are received or receivable. Depreciation on the related fixed assets is charged against the restricted fund.
## **Donations and legacies**
Donations are recognised in the period in which they are received. Legacy income is recognised when the charity’s entitlement is judged to be probable and where the amount can be reliably measured.
## **Rental income**
Room hire income are credited to income in the year when the rental takes place.
## **Investment income**
Investment income is included when receivable.
## **1.5 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.
All expenditure is accounted for on an accruals basis under the following headings:
- Cost of raising funds includes staff time used to raise grants and donations and their associated support costs.
- Expenditure on charitable activities include expenditure associated with the main objectives of the charity and include both directs costs and their associated support costs.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## **Allocation of support costs**
Support costs comprise those costs which are incurred directly in support of expenditure on the objects of the charity and include governance cost, finance, and office costs. Governance costs are those costs incurred in connection with the compliance with constitutional and statutory requirements of the charity. These costs have been allocated between cost of raising funds and expenditure on charitable activities. All the general support and governance costs have been apportioned to the various charitable activities on the basis of direct costs allocated to each activity
- 9 -
## **SANDS END ARTS & COMMUNITY CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **1 Accounting policies**
## **(Continued)**
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.The cost of minor additions or those costing less than £500 are not capitalised.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful life on the following basis:
Leasehold improvements Over lease period (60 years) Fixtures and fittings 25% Written down value method Cafe Equipment 25% Written down value method IT Equipment 33% Straight line method Leasehold improvements (Café fit out) 25% Straight line method Leasehold improvements (Seedbank Fit Out) 10% Straight line method
## **1.7 Stocks**
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
## **1.8 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.9 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## **1.10 Taxation**
The charity is a registered charity and, therefore, is not liable for Income Tax or Corporation Tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.
## **1.11 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. Accrued income and tax recoverable is included at the best estimate of the amounts receivable at the balance sheet date.
## **1.12 Pension**
The charity operates a defined contribution pension scheme on behalf of its employees. Contributions are charged to the Statement of Financial Activities in the period in which they are payable.
- 10 -
## **SANDS END ARTS & COMMUNITY CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **1 Accounting policies**
**(Continued)**
## **1.13 Creditors**
Creditors 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 are normally recognised at their settlement amount after allowing for any trade discounts due.
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **3 Donations and legacies**
|**Restricted**
**funds**
**£**
Grant from Tideway
1,000
1,000
**For the year ended 31 December 2022**
-|**Total**
**2023**
**£**
1,000
1,000|**Total**
**2022**
**£**
-|
|---|---|---|
|||-|
|||-|
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## **SANDS END ARTS & COMMUNITY CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
|**4**
**Income from charitable activities**
**Community**
**Projects**
**Space Hire**
**Café**
**£**
**£**
**£**
Grant from London Borough of
Hammersmith and Fulham
6,796
-
-
Grant from Tideway
10,000
-
-
Room Hire
-
119,026
-
Sublease income
-
62,065
-
Cafe income
-
-
129,579
Cafe Hire
-
-
-
16,796
181,091
129,579
Analysis by fund
Unrestricted funds
6,796
181,091
129,579
Restricted funds
10,000
-
-
16,796
181,091
129,579
**For the year ended 31 December 2022**
Unrestricted funds
185,000
160,901
75,986
185,000
160,901
75,986
**5**
**Investments**
**Unrestricted**
**funds**
**£**
Bank interest
4,013
4,013|**Total**
**2023**
**£**
6,796
10,000
119,026
62,065
129,579
-
327,466
317,466
10,000
327,466
**Total**
**2023**
**£**
4,013
4,013|**Total**
**2022**
**£**
185,000
-
112,011
48,890
75,203
783|
|---|---|---|
|||421,887|
|||421,887
-|
|||421,887|
|||421,887|
|||421,887|
|||**Total**
**2022**
**£**
-|
|||-|
- 12 -
## **SANDS END ARTS & COMMUNITY CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **6 Raising funds**
|**Unrestricted**
**funds**
**£**
Staff costs
5,275
Share of Support costs (See note 8 )
1,391
Share of Governance Cost (See note 8)
248
6,914
**For the year ended 31 December 2022**
Fundraising and publicity
3,752
3,752|**Total**
**2023**
**£**
5,275
1,391
248
6,914|**Total**
**2022**
**£**
2,853
772
127|
|---|---|---|
|||3,752|
|||3,752|
|||3,752|
## **7 Expenditure on charitable activities**
|**Community**
**Projects**
**Space Hire**
**£**
**£**
Staff costs
10,919
23,483
Premises and Equipment Costs
-
29,890
Advertising and Marketing Costs
-
5,138
Cafe Costs
-
-
Other Direct Costs
-
23,521
10,919
82,032
Share of support costs (see note 8)
2,879
21,633
Share of governance costs (see note 8)
513
3,857
14,311
107,522
**Analysis by fund**
Unrestricted funds
14,311
97,522
Restricted funds
-
10,000
14,311
107,522
**For the year ended 31 December 2022**
Unrestricted funds
8,066
66,686
8,066
66,686|**Cafe**
**£**
116,346
15,410
5,134
46,820
-
183,710
48,448
8,638
240,796
240,796
-
240,796
178,612
178,612|**Total**
**2023**
**£**
150,748
45,300
10,272
46,820
23,521
276,661
72,960
13,008
362,629
352,629
10,000
362,629|**Total**
**2022**
**£**
97,056
41,930
24,611
29,046
-|
|---|---|---|---|
||||192,643
52,142
8,579|
||||253,364|
||||253,364
-|
||||253,364|
||||253,364|
||||253,364|
- 13 -
## **SANDS END ARTS & COMMUNITY CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
|**8**
**9**|**Support costs**
**Support**
**Governance**
**Total**
**costs**
**costs**
**2023**
**£**
**£**
**£**
Staff costs
54,964
10,550
65,514
Depreciation
8,638
-
8,638
Legal and Professional Costs
1,114
-
1,114
Communication and IT Costs
2,732
-
2,732
Miscellaneous Expenses
2,104
-
2,104
Insurance
1,549
-
1,549
Bank Charges
2,649
-
2,649
Staff recruitment, welfare and training costs
601
-
601
Independent Examiner's Fees
-
2,706
2,706
74,351
13,256
87,607
Analysed between
Fundraising
1,391
248
1,639
Charitable activities
72,960
13,008
85,968
74,351
13,256
87,607
**Net movement in funds**
**2023**
**£**
Net movement in funds is stated after charging/(crediting)
Independent examiner's fees
Fees for Independent examination
1,950
Other services
756
Depreciation of owned tangible fixed assets
8,638|**Total**
**2022**
**£**
36,796
7,498
2,129
2,964
6,087
1,365
329
882
3,570|
|---|---|---|
|||61,620|
|||899
60,721|
|||61,620|
|||**2022**
**£**
1,920
1,080
7,498|
## **10 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits or expenses from the charity during the year (2022 - nil).
## **11 Employees**
The average monthly number of employees during the year was:
||**2023**|**2022**|
|---|---|---|
||**Number**|**Number**|
|Charitable work|9|4|
|Total|9|4|
- 14 -
## **SANDS END ARTS & COMMUNITY CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
|**11**
**Employees**
**Employment costs**
Wages and salaries
National Insurance
Pension costs|**(Continued)**
**2023**
**2022**
**£**
**£**
208,191
132,385
9,848
2,627
3,498
1,693
221,537
136,705|**(Continued)**
**2023**
**2022**
**£**
**£**
208,191
132,385
9,848
2,627
3,498
1,693
221,537
136,705|
|---|---|---|
|||136,705|
The key management personnel of the charity comprise the Chief Executive Officer (to 2/10/2023) and Director (from 6/11/2023). The total employee benefits of the key management personnel of the charity were £44,445 (2022 - £28,529 ).
There were no employees whose annual remuneration was more than £60,000 (2022 - nil).
|**12**
**Tangible fixed assets**
**Leasehold**
**improvements**
**Plant and**
**equipment**
**Fixtures and**
**fittings**
**IT equipment**
**£**
**£**
**£**
**£**
**Cost**
At 1 January 2023
51,463
6,534
17,176
1,260
Additions
19,744
2,634
5,505
-
VAT Adjustment during the year
(738)
(1,068)
(2,700)
-
At 31 December 2023
70,469
8,100
19,981
1,260
**Depreciation and impairment**
At 1 January 2023
2,541
1,524
3,230
204
Depreciation charged in the year
3,053
1,358
3,875
352
At 31 December 2023
5,594
2,882
7,105
556
**Carrying amount**
At 31 December 2023
64,875
5,218
12,876
704
At 31 December 2022
48,922
5,010
13,946
1,056
**13**
**Stocks**
**2023**
**£**
Cafe Inventory
3,108
3,108|**Total**
**£**
76,433
27,883
(4,506)|
|---|---|
||99,810|
||7,499
8,638|
||16,137|
||83,673|
||68,934|
||**2022**
**£**
2,170|
||2,170|
- 15 -
## **SANDS END ARTS & COMMUNITY CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **14 Debtors**
|**Amounts falling due within one year:**
Trade debtors
Prepayments
**15**
**Creditors: amounts falling due within one year**
**Notes**
Taxation and social security
Deferred income
**18**
Trade creditors
Accrued income
Other creditors
Accruals
**16**
**Creditors: amounts falling due after more than one year**
Rent Deposit|**2023**
**£**
5,326
868
6,194
**2023**
**£**
7,740
3,787
-
35,000
554
15,972
63,053
**2023**
**£**
8,225
8,225|**2022**
**£**
18,950
455|
|---|---|---|
|||19,405|
|||**2022**
**£**
4,007
8,625
5,124
-
717
6,043|
|||24,516|
|||**2022**
**£**
8,225|
|||8,225|
## **17 Pension costs**
The pension cost charge represents contributions payable by the charity to the fund and amounted to £3,498 (2022 - £1,693). Contributions totalling £554 (2022 - £717) were payable to the fund at the year end and are included in other creditors.
## **18 Deferred Income**
|Movements in the year:
Deferred income at 1 January 2023
Released from previous periods
Resources deferred in the year
Deferred income at 31 December 2023|**2023**
**£**
8,625
(8,625)
3,787
3,787|**2022**
**£**
-
-
8,625|
|---|---|---|
|||8,625|
Deferred income includes rental income for 2024 invoiced in 2023.
- 16 -
## **SANDS END ARTS & COMMUNITY CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **19 Restricted funds**
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
||||**Movement in funds**|**Movement in funds**||
|---|---|---|---|---|---|
|||**Balance at**|**Incoming**|**Resources**|**Balance at**|
||**1**|**January 2023**|**resources**|**expended**
**31 December 2023**||
|||**£**|**£**|**£**|**£**|
|Tideway grant||-|11,000|(10,000)|1,000|
|||-|11,000|(10,000)|1,000|
## **Description, nature and purpose of restricted funds:**
**Tideway grant :** Tideway provided a grant of £10,000 for bespoke activities that young people had identified as a priority and met the principle of informing, inspiring and empowering young people in accordance with SEACC’s aims. In addition, Tideway made a grant of £1000 towards SEACC’s energy costs in 2023.
## **20 Analysis of net assets between funds**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**£**
**£**
Fund balances at 31
December 2023 are
represented by:
Tangible assets
83,673
-
Current assets/(liabilities)
111,798
1,000
Long term liabilities
(8,225)
-
187,246
1,000|**Total**
**Unrestricted**
**2023**
**funds**
**£**
**£**
83,673
68,934
112,798
164,601
(8,225)
(8,225)
188,246
225,310|**Total**
**2022**
**£**
68,934
164,601
(8,225)|
|---|---|---|
|||225,310|
## **21 Related party transactions**
There were no disclosable related party transactions during the year (2022 - none).
- 17 -