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2024-04-30-accounts

Charity registration number 1201531

Company registration number 12252776 (England and Wales)

LONDON LGBTQ+ COMMUNITY CENTRE LIMITED

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

LONDON LGBTQ+ COMMUNITY CENTRE LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

K M Lyons S Moore A J Waite C Davies D Jas

Trustees K M Lyons S Moore A J Waite C Davies D Jas Charity number 1201531 Company number 12252776 Registered office 60-62 Hopton Street London United Kingdom SE1 9JH Independent examiner Sedulo London Limited Office 605 Albert House 256 - 260 Old Street London United Kingdom EC1V 9DD

LONDON LGBTQ+ COMMUNITY CENTRE LIMITED

CONTENTS

Page
Trustees' report 1 - 5
Independent examiner's report 6
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 9 - 18

LONDON LGBTQ+ COMMUNITY CENTRE LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 30 APRIL 2024

The trustees present their annual report and financial statements for the year ended 30 April 2024.

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 Memorandum and Articles, the Companies Act 2006 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)".

Objectives and activities

Mission and vision

The London LGBTQ+ Community Centre is an award-winning project launched by a team of volunteers in 2017. In December 2021 we opened our first physical space in London's bankside.

Our mission is to provide London with a sober, intersectional community centre and café where all LGBTQ+ people are welcome, supported, can build connections and can flourish. Our vision is for a more connected, belonging and thriving LGBTQ+ community in London.

We want all LGBTQ+ individuals in London to live happier and healthier lives and have a stronger sense of belonging.

Overall, our Centre contributes to:

i) increasing the number of community-led spaces

ii) decreasing isolation iii) increasing community cohesion and our sense of safety

iv) increasing LGBTQ+ individuals’ knowledge of the services they can access in London

“The ballet class was wholesome and so healing. I am struggling with my mental health and my body. And being able to reconnect with myself through dance, in this safe, warm and friendly environment was such a joy. Thank you. I feel grateful. I am coming back next week, and the week after.” Anonymous

LONDON LGBTQ+ COMMUNITY CENTRE LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2024

Activities

Our Centre is a hub for the entire community. As an inclusive, intersectional and intergenerational space, we welcome everyone regardless of class, race, gender, age, ability or culture.

We do so by:

Activities are free or through donation or pay-it forward systems.

Thanks to having received a number of project grants we have been able to run a series of activities (new and old) responding to the community’s needs:

Some of these programmes are still on-going.

“It is mostly people with a low income and who want to come to a space where they can fit it without worrying about money, how they fit in, etc.” Mark, Strength and conditioning facilitator

“The ‘writing about race for POC’ workshop tonight was excellent! Really interesting to think about the literary choices we make, the ideas that feed into them and what 'authentic' writing about Black people sounds like. Would love to do more!" Anonymous

Achievements and performance

Charitable activities

In the financial year 2023-2024, the Centre was visited by over 12,700 people. We hosted over 600 events attended by 8,800 people. We have worked with 14 local LGBTQ+ charities and over 70 grassroots groups; as well as with local institutions such as Tate Modern, Shakespeare’s Globe, The Southbank Centre or the British Film Institute.

We also continued our efforts to be embedded in the wider Southwark community through growing collaborations with the local council and other local community groups, such as Living Bankside, Better Bankside and different Southwark Council services such as their Public Health and Community Engagement programmes.

In June 2023, we hosted the very first Pride in Southwark festival. A day event that included workshop, performances and a market. A huge milestone for our Borough as this event had been in the making for years. In August, we hosted the launch of Better Bankside’s LGBTQ+ network which was attended by staff members of different local businesses.

LONDON LGBTQ+ COMMUNITY CENTRE LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2024

Financial review

Financial Position

The financial year 2023-24 has been an extremely successful year not only in terms of income generation, but - perhaps more importantly - with regards to our operational capacity, as we hired our Finance Lead in October 2023. Until then, our finances had mainly been managed by either volunteers or freelancers.

As a result of having a Finance Lead on post we have:

While the financial landscape for charities will always be unsettling, especially in times of increasing cost of living and political uncertainty, we are becoming more and more confident in our internal ability to plan, foresee and adjust to challenges.

Total income for the financial year 2023-24 was £382,487 (2022-23: £267,074), of the total receipts £263,784 (2022-23: £66,846) were from restricted grants. Total expenditure for the same period was £219,759 (2022-23: £119,420), of the total expenditure £171,923 (2022-23: £29,584) was relating to restricted grants. The charity carried forward funds of £268,501 at 30 April 2024 (2023: £105,773), which consisted of £139,378 (2023: £68,511) in unrestricted and £129,123 (2023: £37,262) in restricted funds.

Going concern

The board have reviewed cashflow forecasts for a period of at least 12 months from the date of signing. The forecasts demonstrate that the charity continues to be a going concern and will be able to meet its liabilities when they fall due.

Therefore, the board have a reasonable expectation that the charity has adequate financial resources to continue in operational existence for the foreseeable future. Accordingly, our accounts have been prepared on the basis that the charity is a going concern, as set out in the accounting policies note 1.

Reserves policy

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure calculated based on the current annual budget. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The trustees review the amount of reserves that are required to ensure that they are adequate to fulfil the charity's continuing obligations on a quarterly basis at their finance meeting.

At the year end, the unrestricted reserves were £139,378, which is equivalent to just under 5 month’s operating costs based on our 2024-2025 annual budget.

LONDON LGBTQ+ COMMUNITY CENTRE LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2024

Plans for future periods

The financial year 2023-24 was a challenging one as the team changed and expanded. It has felt like the beginning of a new era at the Centre.

Thanks to having new expertise in the team, we are able to build towards the future. Not only in terms of how we support our community, but also financially. Having secured a three-year operational costs grant from the National Lottery gave us a bit of respite to focus on our operational foundations. Now, the first year of that grant is almost over, so we are gearing up to secure the organisation’s financial future.

Our plans include:

Structure, governance and management

Our Memorandum and Articles of Association are our main governing document. The organisation was set up as a Company Limited by Guarantee in October 2019 and in January 2023 gained Charity status with the Charities Commission.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

R E Baker (Resigned 12 April 2024) K M Lyons S Moore A J Waite R O D'Silva (Resigned 6 June 2024) C Davies D Jas

Recruitment and appointment of trustees

Every year, a Trustees Skills Audit is carried out to assess the skills and knowledge the Board brings in and consider if additional members are needed to meet the organisations' needs at the moment.

Recruitment is carried out by a Board Subcommittee including the Business Development Manager. Interviews are carried out and the successful candidates join a Board meeting as observers before the appointment is made official

LONDON LGBTQ+ COMMUNITY CENTRE LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2024

Organisational structure

Our Board comprises of 7 trustees including a Chair and a Treasurer. Every year, a Trustees Skills Audit is carried out to assess the skills and knowledge the Board brings in and consider if additional members are needed to meet the organisations’ needs at the moment.

Recruitment is carried out by a Board Subcommittee including the General Manager. Interviews are carried out and the successful candidates join a Board meeting as observers before the appointment is made official.

In the financial year 2023-2024 no additional Trustees were recruited. As a result of one of our Trustees stepping down at the end of the year and the results evidenced by the most recent audit carried out in April, we started a recruitment process to bring new Trustees onboard in the following financial year.

We have 7 members of staff comprising of General Manager, Centre Manager, Communications & Marketing Manager, Finance Lead, Events & Outreach Lead, Centre Assistant and Research Lead.

The team is managed by the General Manager who is supported by the Chair of the Board.

Our Research Lead joined the team for a year to carry out our third research project on the Centre’s impact on the community wellbeing, which should be completed towards the end of the financial year 2024-25.

The trustees' report was approved by the Board of Trustees.

.............................. S Moore

Trustee

Date: .. 30 October 2024

LONDON LGBTQ+ COMMUNITY CENTRE LIMITED

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF LONDON LGBTQ+ COMMUNITY CENTRE LIMITED

I report to the trustees on my examination of the financial statements of London LGBTQ+ Community Centre Limited (the charity) for the year ended 30 April 2024.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (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 Association of Chartered Certified Accountants, which is one of the listed bodies.

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:

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.

Emma Houghton FCCA

Sedulo London Limited

Office 605 Albert House 256 - 260 Old Street London EC1V 9DD United Kingdom

31 October 2024 Dated: .........................

LONDON LGBTQ+ COMMUNITY CENTRE LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 APRIL 2024

Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income from:
Donations and legacies
2
74,403
-
Community Centre
3
44,300
263,784
Total income
118,703
263,784
Expenditure on:
Raising funds
4
1,659
-
Community Centre
5
46,177
171,923
Total expenditure
47,836
171,923
Net income and movement in
funds
70,867
91,861
Reconciliation of funds:
Fund balances at 1 May 2023
68,511
37,262
Fund balances at 30 April 2024
139,378
129,123		 Total
Unrestricted
Restricted
Total
funds
funds
2024
2023
2023
2023
£
Restated£
Restated£
Restated£
74,403
109,924
-
109,924
308,084
90,304
66,846
157,150
382,487
200,228
66,846
267,074
1,659
342
-
342
218,100
89,494
29,584
119,078
219,759
89,836
29,584
119,420
162,728
110,392
37,262
147,654
105,773
(41,881)
-
(41,881)
268,501
68,511
37,262
105,773

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 9 to 18 form part of these financial statements.

LONDON LGBTQ+ COMMUNITY CENTRE LIMITED

BALANCE SHEET

AS AT 30 APRIL 2024

Notes
Fixed assets
Tangible assets
10
Current assets
Debtors
11
Cash at bank and in hand
Creditors: amounts falling due within one year
12
Net current assets
Total assets less current liabilities
Net assets excluding pension liability
The funds of the charity
Restricted funds
13
Unrestricted funds		 2024
£
2,676
271,553
274,229
(6,707)		 2023
£
Restated£
Restated£
979
-
5,215
104,191
109,406
(3,633)
267,522
105,773
268,501
105,773
268,501
105,773
129,123
37,262
139,378
68,511
268,501
105,773		 2023
£
Restated£
Restated£
979
-
5,215
104,191
109,406
(3,633)
267,522
105,773
268,501
105,773
268,501
105,773
129,123
37,262
139,378
68,511
268,501
105,773
105,773
105,773
37,262
68,511
105,773

The notes on pages 9 to 18 form part of these financial statements.

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 April 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

30 October 2024

The financial statements were approved by the trustees on .........................

..............................

S Moore Trustee

Company registration number 12252776 (England and Wales)

LONDON LGBTQ+ COMMUNITY CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

1 Accounting policies

Charity information

London LGBTQ+ Community Centre Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 60-62 Hopton Street, London, SE1 9JH, United Kingdom.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's Memorandum and Articles, the Companies Act 2006, 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 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. The principal accounting policies adopted are set out below.

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.

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 or grantors 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.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

LONDON LGBTQ+ COMMUNITY CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2024

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

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.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment 20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

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.

LONDON LGBTQ+ COMMUNITY CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2024

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2024 2023
£ Restated£
Donations and gifts 74,403 109,924

LONDON LGBTQ+ COMMUNITY CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2024

3 Income from charitable activities

Unrestricted
Restricted
funds
funds
2024
2024
£
£
Events
29,237
-
Food, drinks and
merchandise
9,598
-
Centre hire
5,465
-
Grants
-
263,784
44,300
263,784		 Total
Unrestricted
Restricted
Total
funds
funds
2024
2023
2023
2023
£
Restated£
Restated£
Restated£
29,237
39,226
-
39,226
9,598
22,057
-
22,057
5,465
12,716
-
12,716
263,784
16,305
66,846
83,151
308,084
90,304
66,846
157,150		 Total
Unrestricted
Restricted
Total
funds
funds
2024
2023
2023
2023
£
Restated£
Restated£
Restated£
29,237
39,226
-
39,226
9,598
22,057
-
22,057
5,465
12,716
-
12,716
263,784
16,305
66,846
83,151
308,084
90,304
66,846
157,150
157,150

Raising donations and legacies Payment processing fees

Unrestricted Unrestricted
funds funds
2024 2023
£ £
1,659 342

LONDON LGBTQ+ COMMUNITY CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2024

5 Expenditure on charitable activities

Community Community
Centre Centre
2024 2023
£ Restated£
Direct costs
Advertising 5,709 1,513
Event costs 2,393 2,683
Panel 870 1,495
Wellbeing 474 830
Workshop 28,496 2,631
Facilitators 8,482 2,204
Food and drink 3,799 4,156
Merchandise - 972
Payment processing fees 1,528 -
51,751 16,484
Share of support and governance costs (see note 6)
Support 161,951 98,496
Governance 4,398 4,098
218,100 119,078
Analysis by fund
Unrestricted funds 46,177 89,494
Restricted funds 171,923 29,584
218,100 119,078

LONDON LGBTQ+ COMMUNITY CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2024

6 Support costs allocated to activities

Staff costs
Depreciation
Insurance
Light and heat
Telephone
Postage and stationery
Rent
Bad debt
Repair and maintenance
Computer costs
Staff training
Professional fees
Governance costs
Analysed between:
Community Centre		 2024
£
118,417
70
2,727
4,137
643
898
10,000
5,355
875
4,764
2,806
11,259
4,398
166,349
166,349		 2023
£
68,913
-
3,426
4,346
914
1,896
-
-
10,036
3,832
1,692
3,441
4,098
102,594
102,594

7 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30 April 2024 nor for the year ended 30 April 2023.

8 Employees

The average monthly number of employees during the year was:

2024 2023
Number Number
Total 5 4

LONDON LGBTQ+ COMMUNITY CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2024

8
Employees
Employment costs
Wages and salaries
Social security costs
Other pension costs		 (Continued)
2024
2023
£
£
113,436
67,762
3,437
-
1,544
1,151
118,417
68,913		 (Continued)
2024
2023
£
£
113,436
67,762
3,437
-
1,544
1,151
118,417
68,913
68,913

There were no employees whose annual remuneration was more than £60,000.

9 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

10 Tangible fixed assets

Cost
Additions
At 30 April 2024
Depreciation and impairment
Depreciation charged in the year
At 30 April 2024
Carrying amount
At 30 April 2024
11
Debtors
Amounts falling due within one year:
Trade debtors
Prepayments and accrued income		 Plant and
equipment
£
1,049
1,049
70
70
979
2024
2023
£
£
1,221
5,215
1,455
-
2,676
5,215		 Plant and
equipment
£
1,049
1,049
70
70
979
2024
2023
£
£
1,221
5,215
1,455
-
2,676
5,215
1,049
70
70
979
2023
£
5,215
-
5,215

LONDON LGBTQ+ COMMUNITY CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2024

12 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Accruals and deferred income		 2024
£
3,275
1,332
2,100
6,707		 2023
£
808
725
2,100
3,633

13 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 May 2023 Incoming Resources
At 30 April 2024		 Resources
At 30 April 2024
resources expended
Restated£ £ £ £
Awards for All 9,950 19,993 (9,924) 20,019
Lush 5,000 - (5,100) (100)
Rocket Science 8,870 997 (9,504) 363
National Lottery 1,500 107,087 (63,814) 44,773
Tesco Groundwork 500 - (508) (8)
Lululemon 11,955 49,184 (31,933) 29,206
Screwfix 5,000 - - 5,000
UnLtd (5,513) 9,640 (4,232) (105)
B&Q - 7,000 - 7,000
Dr Martens - 10,000 (7,174) 2,826
NHSE CAPH - 5,000 (4,230) 770
Southwark Council - 13,583 (1,571) 12,012
London Marathon - 41,300 (33,933) 7,367
37,262 263,784 (171,923) 129,123

LONDON LGBTQ+ COMMUNITY CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2024

13 Restricted funds (Continued)
Previous Period: At 1 May 2022 Incoming Resources
At		 30 April 2023
resources expended
£ Restated£ Restated£ Restated£
Awards for All - 9,950 - 9,950
Lush - 5,000 - 5,000
Rocket Science - 8,970 (100) 8,870
National Lottery - 1,500 - 1,500
Tesco Groundwork - 500 - 500
Lululemon - 30,926 (18,971) 11,955
Screwfix - 5,000 - 5,000
UnLtd - 5,000 (10,513) (5,513)
- 66,846 (29,584) 37,262

14 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 May 2023 Incoming Resources
At 30 April 2024
At 30 April 2024
resources expended
Restated£ £ £ £
General funds 68,511 118,703 (47,836) 139,378
Previous Period: At 1 May 2022 Incoming Resources
At 30 April 2023
resources expended
£ Restated£ Restated£ Restated£
General funds (41,881) 200,228 (89,836) 68,511

LONDON LGBTQ+ COMMUNITY CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2024

15 Prior Year Adjustment

The prior year figures have been restated to account for expenditure which was incorrectly allocated against unrestricted funds. This has resulted in an understatement of restricted funds and an overstatement of unrestricted funds. The effect of the correction has been shown in the table below.

The restatement of funds is as follows:

2023 Previous £ 2023 Restated £ Adjustment £
Unrestricted funds 83,835 68,511 (15,324)
Restricted funds 21,938 37,262 15,324
Total funds at 30 April 2023 105,773 105,773 -

16 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).