2022-03-31-accounts

341 Queenstown	Road
Battersea
London
SW8 4LH
341 Queenstown	Road
Battersea
London
SW8 4LH
MCT Partnership	LLP
Chartered Accountants
Statutory Auditors
1 Warner House
Harrovian Business Village
Bessborough Road
Harrow Middlesex
HA1 3EX
The Royal Bank ofScotland
London Belgravia	Branch
24 Grosvenor Place
London
SW1XTHP

		Page
Trustees' report		1-3
Statement oftrustees'	responsibilities
Independent auditor's	report	5-8
Statement offinancial	activities
Balance sheet		10
Statement ofcash flows
Notes to the financial	statements	12-22

						Unrestricted	Unrestricted	Unrestricted	Total	Total
						funds		funds	2022	2021
						general		designated
					Notes			6
Income and endowments		from:
Donations, legacies and grants						18,162			18,162	122,264
Charitable activities						34,328			34,328	27,901
Investments						1,948			1,948	2,981
Other income						54			54	38
Total income and endowments						54,492			54,492	153,184
~Edit
Raising funds					7	31,913			31,913	19,584
~Ch 't ht
Core activities					8	190,293			190,293	244,621
Total charitable	expenditure					190,293			190,293	244,621
Exceptional costs					12			5,105,205	5,105,205
Total resources expended						222,206		5,105,205	5,327,411	264,205
Net movement	on revaluing		investments	at fair
value					13	(457)			(457)	(150)
Net movement	in funds					(167,257)		(5,105,205)	(5,272,462)	(110,871)
Fund balances	at 1 April 2021					1,193,055		7,009,123	8,202,178	8,313,049
Fund balances	at 31 March		2022			1,025,798		1,903,918	2,929,716	8,202,178

					2022		2021
			Notes
Fixed assets
Tangible assets			15		2,563,935		2,606,241
Investments			16		2,846		2,389
					2,566,781		2,608,630
Current assets
Stock			18	1,858		1,558
Debtors			17	4,327		11,553
Investments			19			5,105,205
Cash at bank	and in	hand		389,788		524,027
				395,973		5,642,343
Creditors: amounts		falling due within	20
one year				(33,038)		(46,795)
Net current assets					362,935		5,593,548
Total assets	less current liabilities				2,929,716		8,202,178
Income funds
Unrestricted	funds -	designated	21		1,903,918		7,009,123
Unrestricted	funds -	general			1,025,798		1,193,055
					2,929,716		8,202,178

					2022		2021
			Notes
Cash flows from operating		activities
Cash absorbed by operations			26	(136,187)		(73,035)
Net cash	outflow from operating activities				(136,187)		(73,035)
Investing	activities
Investment	income received			1,948		2,981
Net cash activities	generated from investing				1,948		2,981
Net cash	used in financing	activities
Net decrease in cash and		cash equivalents			(134,239)		(70,054)
Cash and	cash equivalents	at beginning	ofyear		524,027		594,081
Cash and	cash equivalents	at end of	year		389,788		524,027

					Activities	Private	Total	Total
					including	sittings with		2021
					workshops and	mediums
					demonstrations
Incoming	resources	within	charitable	activities	18,424	15,904	34,328	27,901

		2022	2021
Income	from listed investments	145	80
Interest	receivable	1,803	2,901
		1,948	2,981

	Royalties
7	Raising	funds

Unrestricted	Unrestricted
funds	funds
general	general
2022	2021
6	8
54	38

Raising funds
			Unrestricted	Unrestricted
			funds	funds
			general	general
			2022	2021
			6
Fundraisin and	ublici	costs
Staging fundraising	events		1,820	717
Qjtgg~xen sea Mediums' fees and other		related costs	30,093	18,867
			31,913	19,584

Charitable a	ctivities
			2022	2021
Staffcosts			84,944	102,102
Depreciation	and impairment		42,306	42,306
Donations paid to other charities				400
Rates			4,890	4,322
Insurance			5,250	5,194
Repairs and maintenance			12,241	5,675
Postage and	stationery		543	1,433
Telephone			2,785	3,081
Computer and website expenses			3,213	2,915
Sundry expenses			241	97
Bank charges			2,077	3,007
			158,490	170,532
Share ofgovernance		costs (see note 9)	31,803	74,089
			190,293	244,621

		Support	Governance	2022	2021 Basis ofallocation
		costs	cos'ts
		6	f
Audit fees			8,500	8,500	13,500 Governance
Legal and	professional		23,303	23,303	60,589 Governance
			31,803	31,803	74,089
Analysed	between
Charitable	activities		31,803	31,803	74,089

The average	monthly number ofemployees during the yea	r was:
		2022	2021
		Number	Number
Administration	and Management
Employment	costs	2022 8	2021 8
Wages and salaries		83,717	100,329
Staff pension	costs	1,227	1,773
		84,944	102,102

13	Net movem	ent on valuing investments at fair value
			2022	2021
	Revaluation	ofinvestments	(457)	(150)
14	Taxation

15	Tangible fixed assets	Tangible fixed assets
				Freehold	Library	Fixtures,	Computer	Total
				property		fittings and	equipment
					6	equipment f
	Cost
	At 1 April 2021			2,661,384	2,505	59,987	4,104	2,727,980
	At 31 March	2022		2,661,384	2,505	59,987	4,104	2,727,980
	Depreciation	and impairment
	At 1 April 2021			97,571	2,505	19,776	1,887	121,739
	Depreciation	charged	in the year	35,486		5,999	821	42,306
	At 31 March	2022		133,057	2,505	25,775	2,708	164,045
	Carrying amount
	At 31 March	2022		2,528,327		34,212	1,396	2,563,935
	At 31 March	2021		2,563,813		40,211	2,217	2,606,241

Fixed as	set investments
		Listed
		investments
		6
Cost or	valuation
At 1 April	2021	2,389
Valuation	changes	457
At 31 March 2022		2,846
Carrying	amount
At 31 March 2022		2,846
At 31 March 2021		2,389

Debtors
				2022	2021
Amounts	falling		due within one year:	f.	6
Prepayments		and	accrued income	4,327	11,553

18	Stock							2022	2021
								6	6
	Goods for resale							1,858	1,558
19	Current	asset	investments
								2022	2021
								6	6
	Unlisted	investment							5,105,205
	Please refer to		note	12for explanation	regarding	impairment	ofthe investment.
20	Creditors: amounts			falling due within	one year
								2022	2021
									6
	Other taxation		and social security					5,897	6,423
	Trade creditors							1,876	11,399
	Accruals							25,265	30,973
								33,038	48,795

			Movement in funds	Movement in funds
		Balance at 1	Incoming	Resources Impairment of	Balance at 31
		April 2021 6	resources f	expended Investment 6 6	March 2022
Future	investment	7,009,123		(5,105,205)	1,903,918

Analysis of net assets between funds
	Unrestricted	Designated	Total	Unrestricted	Desii
	funds	funds		funds
	2022	2022	2022	2021
	2	2	8	f
Fund balances at 31 March 2022 are represented
by:
Tangible assets	2,563,935		2,563,935	2,606,241
Investments	2,846		2,846	2,389
Current assets/(liabilities)	(1,540,983)	1,903,918	362,935	(1,415,575)	7,0(
	1,025,798	1,903,918	2,929,716	1,193,055	7,0(

The number ofmembers at 31 March 2022 were a	s follows:
	2022	2021
	Number	Number
Life Members	266	275
Other members	87	110
	353	385

The remun	eration of key management personnel isas	follows.
		2022	2021
		8	8
Aggregate	remuneration	35,360	34,719

26	Cash generated from operations			2022	2021
				8	E
	Deficit for the year			(5,272,462)	(110,871)
	Adjustments for:
	Investment income recognised in statement	offinancial	activities	(1,948)	(2,981)
	Fair value gain on investments			(457)	(150)
	Impairment ofinvestment			5,105,205
	Depreciation and impairment oftangible fixed assets			42,306	42,306
	Movements in working capital:
	Increase in stock			(300)
	Decrease/(increase) in debtors			7,226	(3,552)
	(Decrease)/increase in creditors			(15,757)	2,213
	Cash absorbed by operations			(136,187)	(73,035)