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2022-03-31-accounts

REGISTERED COMPANY NUMBER: 01587922 (England and Wales) REGISTERED CHARITY NUMBER: 283680

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

CHATS PALACE LIMITED

Arithma Accountants Limited 9 Mansfield Street London W1G 9NY

CHATS PALACE LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

Page
Report of the Trustees 1 to 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9 to 10
Notes to the Financial Statements 11 to 17
Detailed Statement of Financial Activities 18 to 19

CHATS PALACE LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of 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 Objectives and aims Summary of the objects of the Charity set out in its governing document

Chats Palace is governed by a memorandum of association. The objects for which the Company is registered are to "promote the benefit of inhabitants of particular neighbourhoods and areas in the United Kingdom without distinction of political, religious or other opinions by associating with local and other government authorities statutory and voluntary organisations and individuals in efforts to advance education, encourage the arts and to provide facilities in the interests of social welfare with the object of improving conditions of life for the said inhabitants and to establish, manage or assist with the establishing and management of community centres, arts centres, workshops, groups for educational play, deprived youth and old people in need and centres residential or otherwise for activities in furtherance of the objects of the Company and generally to promote, maintain, improve and advance education particularly "by the production and promotion of educational performances and exhibitions and the encouragement of the Arts."

Public benefit

The Trustees have considered the Charity Commission guidance on public benefit and considered that the activities of the Charity meet its charitable activities and provide a benefit to the public.

Page 1

CHATS PALACE LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

ACHIEVEMENT AND PERFORMANCE

Charitable activities

Chats Palace Arts Centre was founded in 1976 from community-focused spirit of local, civic activism to provide arts & education opportunities for local people. We are a monument of community resilience expressed through culture: for more than 40yrs we have continued to honour this tradition with a governing body made up of local people & a programme that is socially engaged, accessible & invites debate. From our 2015 relaunch, our programme has engaged with our community in response to a growing appreciation of the wide-spread reduction in community-based, free-to-access resources designed to grow individual/collective creativity & wellbeing.

Chats Palace is based in Hackney, London's 6th most ethnically diverse borough (GLA DI 2017) & 11th (up from 2nd) most deprived borough (IMD 2015). It has the 4th highest level of child poverty in London, with 37% living below the poverty line. Yet there is strong feeling of community: Hackney Council's 2019 Report noted 9 of 10 residents view Hackney as a place where people from different backgrounds get on well together. Delivering participatory arts projects like Helen Chadwick's opera, Dalston Songs (2016), with its choir of local people, we agree that the collaborative ethos of our community is undeniable.

By offering outstanding cultural, educational, and social experiences for our community we are an exemplary model for future cultural venues. With 40,000 visits per year, the initial 3 years of our new programme (2015-18) has made a demonstrable contribution to the growth in cultural engagement in Hackney: ACE Active Lives Survey (2015-17) records Hackney's arts engagement figures with attendance and participation higher than national average: a 2010 ACE study profiled Hackney as having one of the country's lowest levels of adult arts engagement.

Post Covid-19

April to September 2021 was defined by a gradual shift from lockdown to a re-opened society. In parallel Chats Palace moved from remote access and digital to smaller in-personal activities. The final step - the return to live, in-person performances - commenced in October 2021 with the relaunch of Chats Palace live music programme.

The impact of the government's December 2021 Plan B and the spread of Omicron had a devastating impact on this cautious but confident reopening plan:

Advance sales: from mid-December 2021 advance ticket sales dropped by 75%. This was in stark contrast with October-early December 2021, where events, including 5 live music gigs, ran at 100% capacity. Halt in programming : promoter partners could not guarantee future programmed events will go ahead. Initially events remain on-sale, however this proved unsustainable for all parties and all planned promoter events through to April 2022 were pulled.

Guest Company/CIC hires: hires income stream in 2021 has increased with 25% of turnover coming from hires including rehearsal/ creation space for ACE funded projects. All hire enquiries halted mid-December 2021 and zero income wa s generated from hires between January to March 2022.

Job Retention Scheme

Chats Palace concluded its use of the Job Retention Scheme in June 2021. From 7 June 2021, the core staff team returned to office-based working.

Retail Hospitality and Leisure Grant

A one-off £4,000 payment of Government Plan B aid was received plus a top-up payment of £214 from London Borough of Hackney.

Digital Programme

June 2021: Virtual Stage launched with 3 commissions for 3 artist/s working in diverse music genres, each with an established strong connection to Chats Palace. From an emerging indie band to a string ensemble and a mature folk artist, each artist/s was live streamed from Chats Palace in June 2021 as part of this new Arts Council England supported digital music programme. By giving fresh exposure to artists/bands who historically had been given less stage time, we stimulated creative conversation and encouraged our audiences to engage with genres and artists they may previously have been unfamiliar with.

Page 2

CHATS PALACE LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

Civic Programme

Chats Palace new civic programme - Homerton Assembly - was launched in Jan 2021. With a remit to support the poorest and most deprived people in an already deprived borough, Homerton Assembly has specific focus on areas in Homerton and South Hackney that are amongst top 10% most deprived in the country.

Project 1: Chats Palace was appointed one of two Hackney Contact Points , trusted by London Borough of Hackney and Public Health England to deliver their vital Covid-19 awareness strategy, tackling scams and misinformation, and encouraging take-up of the vaccine.

Project 2: Chats Palace was designated one of thirteen nationwide Windrush Community Projects . In August 2018, Hackney was the first council in the UK to pass a comprehensive motion regarding the Windrush generation. The Council also celebrates Windrush Day on 22 June - the date the ship HMT Empire Windrush landed at Tilbury Docks in 1948. The starting point for our project was the platform our Council has already created for the Windrush generation and using some of the Windrush source material already gathered in Hackney Archives. All 13 nationwide Windrush Community Projects were adversely affected by Omicron and project dates were extended to enable the group as whole to undertake a programme of smaller public events highlighting the Windrush Community Schemes.

Project 3: The Palace Club , for Hackney's residents over 65yrs, has become one of Chats Palace most valued civic programmes since its launch in 2018. The Palace Club relaunched in January 2022 after 21 months closure and is an important part of many of the participants social calendar, with many elders commenting that it is one of the only opportunities they have to socialise within the week. The majority of our elders live within walking distance of Chats Palace and have commented on how valuable it is to be able access an experience like the Palace Club on their doorstep. Many among them have mobility issues and travelling the distance to another similar activity in the area is simply not possible, making the Palace Club a truly invaluable resource.

"Thank you for a great morning. Loved the group, the activities, and the food. " Palace Club participant

Saturday Kid's Club

Every child has the right to a safe and happy childhood. In light of Covid-19 and its inevitable impacts on vulnerable children and young people across London, in November 2021 Chats Palace launched a new Saturday programme of live theatre and music performances offering affordable, accessible first theatre experience for children aged 0-8yrs and their families.

This programme was extended in February and March 2022 including new work from The Egg/ Theatre Royal Bath, Half Moon Theatre, Second Hand Dance and Norwich Puppet Theatre. An additional grant from London Borough of Hackney under the Hello Again Hackney banner, ensure that reduced ticket process offered to families across Hackney made this programme accessible to all.

The positive support this project received was overwhelming, with 518/ 77% tickets sold of 670 tickets available.

Breakdown by age range targeting:

1 sold out show/ overall 79% sales

Postcode analysis confirms that 76% of tickets were booked by parents living at a Hackney postcode. Of this 76%, 70% were in Homerton postcodes suggesting that our audience was very local and in most cases resident within walking distance of our venue.

Page 3

CHATS PALACE LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

We surveyed 98 parents who bought tickets for this programme and asked them to feedback on their experience.

* 71% of respondents said that the show they saw as 'Outstanding - I have not seen children's theatre this good before'

* 24% said the show was 'Good - this is the calibre of children's theatre I would expect from a venue that cared about young audiences.'

* 100% of respondents said that they would support Kids Club being a permanent fixture in our programme, seeing this as a benefit for them and the wider Homerton community.

We invited respondents to provide statements in support of our new programme:

'It is extremely rare to find creative, cultural activities for toddler on a Saturday, for us working parents that don't have the opportunity to take our kids to activities during week nursery hours. It's very rare to find theatre/performance for young toddlers, and I really hope this won't be the last chance. All parents of toddlers I know would love this activity.'

'Such a wonderful start to the weekend. And love how the shows target specific and varying age ranges. Very relaxed and enjoyable for all the family! THANK YOU!'

'This is a wonderful venue, and children have a huge appetite for theatre and exploring their imagination through music, art, and dance. It is great to be able to do that in our local neighbourhood.'

'This sort of thing is hugely important in fostering a sense of community - it was really heart-warming to be at a stellar play with my little boy moments from our house.'

FINANCIAL REVIEW

Reserves policy

Chats Palace's reserves policy is to hold three months of expenditure in unrestricted funds, not invested in fixed assets. From 2017 we have seen continued, positive movement in the diversification and hence sustainability of Chats Palace finances. Leading up to March 2020, Chats Palace Board had continued to work steadily to achieve and maintain this policy through the development of a more robust business model.

The events of 2020/21 and the impact of the Covid-19 pandemic clearly demonstrated that in the short-term our reserves fund needs to be greater in order to protect Chats Palace against the negative impact of further interruptions to business continuity. After our closure in March 2020, our reserve funds were exhausted by May 2020. We have therefore allocated funds to reinflate our reserves through an operational reserves fund of £50,000.We have successfully maintained this level of cash reserves through to year end 2022. This secures Chats Palace stability as we move forward into the new financial year.

In order to support the further implementation of our capital development strategy in partnership with London Borough of Hackney, Chats Palace Board have also elected to create a new designated fund. The reserves held in the 'Capital Development Fund' will be used to finance our feasibility study, to be commissioned in the period to 31 March 2023:

Designated Funds: Operational Reserve £50,000 Capital Development Fund £35,000

Page 4

CHATS PALACE LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

FINANCIAL REVIEW

Funding

London Borough of Hackney supports Chats Palace with a Specialist Grant of £35,000 p/annum, which includes a restricted fund element of £10,000 p/annum to be repaid to London Borough of Hackney as rent. This grant commenced in April 2018 for a two-year period ending March 2020 and was extended by a further three years to March 2023. We would like to acknowledge the support of London Borough of Hackney who continue to support Chats Palace with payment of this grant during successive National and local lockdowns to reopening in October 2021.

We were pleased to progress in our lease discussions with London Borough of Hackney in its capacity as our landlord, and in translating the agreed Memorandum of Understanding into the desired outcome of a longer lease, enabling Chats Palace to plan a capital development plan of this heritage site. A new three-year lease was issued in June 2020, taking the Charity forward to the next step in delivery of our Capital Strategy. In 2021/22 Chats Palace received the statutory business rates relief of 80% in addition to the discretionary 20% rates relief offered by London Borough of Hackney.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Risk management

The Trustees have considered the risks to which the Charity is exposed and have reviewed those risks, establishing systems and procedures to manage them. Under our current business plan (2018-22/extended due to National Lockdowns 2020-2021), we are developing the Charity on a sustainable financial platform that maintains our current levels of income (with only a notional growth target) over the period to the financial year ending 31 March 2022. At the end of that period, the Trustees will seek to reassess the growth target in light of circumstances at the time.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

01587922 (England and Wales)

Registered Charity number

283680

Registered office

42-44 Brooksby's Walk London E9 6DF

Trustees

G D Bridgewood J May C H F Ng R S Norton-Hale I D Rathbone R Rennison (resigned 26.4.22)

Independent Examiner

Arithma Accountants Limited 9 Mansfield Street London W1G 9NY

Approved by order of the board of trustees on 15 December 2022 and signed on its behalf by:

Page 5

CHATS PALACE UMrrED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 C H F Ng- Trustee Page 6

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHATS PALACE LIMITED

Independent examiner's report to the trustees of Chats Palace Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022.

Responsibilities and basis of report

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

Having satisfied myself that the accounts of the Company 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 your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

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:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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 accounts to be reached.

Narendrakumar K Mistry ICAEW Arithma Accountants Limited 9 Mansfield Street London W1G 9NY

15 December 2022

Page 7

CHATS PALACE LIMITED

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
25,188
Other trading activities
3
76,381
Total
101,569
EXPENDITURE ON
Raising funds
7,501
Charitable activities
General
173,196
Rent
-
Total
180,697
NET INCOME/(EXPENDITURE)
(79,128)
Transfers between funds
12
82,816
Net movement in funds
3,688
RECONCILIATION OF FUNDS
Total funds brought forward
115,143
TOTAL FUNDS CARRIED FORWARD
118,831		 Restricted
fund
£
70,814
-
70,814
-
33,700
10,000
43,700
27,114
(82,816)
(55,702)
60,256
4,554		 2022
Total
funds
£
96,002
76,381
172,383
7,501
206,896
10,000
224,397
(52,014)
-
(52,014)
175,399
123,385		 2021
Total
funds
£
256,495
98,000
354,495
2,814
162,093
10,000
174,907
179,588
-
179,588
(4,189)
175,399

The notes form part of these financial statements

Page 8

CHATS PALACE LIMITED

BALANCE SHEET 31 MARCH 2022

Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
8
11,425
CURRENT ASSETS
Bar stock
9
1,161
Debtors
10
20,421
Cash at bank
113,003
134,585
CREDITORS
Amounts falling due within one year
11
(27,179)
NET CURRENT ASSETS
107,406
TOTAL ASSETS LESS CURRENT
LIABILITIES
118,831
NET ASSETS
118,831
FUNDS
12
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
fund
£
-
-
-
4,554
4,554
-
4,554
4,554
4,554		 2022
Total
funds
£
11,425
1,161
20,421
117,557
139,139
(27,179)
111,960
123,385
123,385
118,831
4,554
123,385		 2021
Total
funds
£
12,950
1,181
17,476
154,868
173,525
(11,076)
162,449
175,399
175,399
115,143
60,256
175,399

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

Page 9

continued...

CHATS PALACE LIMITED

BALANCE SHEET - continued 31 MARCH 2022

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

The financial statements were approved by the Board of Trustees and authorised for issue on 15 December 2022 and were signed on its behalf by:

C H F Ng - Trustee

The notes form part of these financial statements

Page 10

CHATS PALACE LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

The financial statements of the charitable company have been prepared in accordance with the Charities SORP (FRS 102) '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 2015) and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

INCOME

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

EXPENDITURE

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 25% on reducing balance Computer equipment - 25% on reducing balance

STOCKS

Bar stock are valued at the lower of cost and estimated selling price less costs to sell.

TAXATION

The charity is exempt from corporation tax on its charitable activities.

FUND ACCOUNTING

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Page 11

continued...

CHATS PALACE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

2. DONATIONS AND LEGACIES

Donations
Grants
Grants received:
London Borough of Hackney
London Legacy Development Corporation
Voice4Change England
Art Council England
Power to Change
City & Hackney Together Contact Point
London Catalyst
The Childhood Trust
Sylvia Waddilove Foundation Grant
Tesco Bags of Help Covid 19 Community Fund
3.
OTHER TRADING ACTIVITIES
Space Hire
Bar income
Insurance Compensation (Emergency Action)
Government Grants
4.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets		 2022
£
188
95,814
96,002		 2021
£
11,059
245,436
256,495		 2021
£
11,059
245,436
256,495
2022 2021
£ £
40,000 35,000
20,000 -
21,826 -
- 141,326
- 58,315
13,988 5,995
- 2,000
- 1,300
- 1,000
- 500
95,814 245,436
2022
£
40,274
15,219
-
20,888
76,381
2022
£
3,808		 2021
£
3,054
-
25,000
69,946
98,000
2021
£
4,317

Page 12

continued...

CHATS PALACE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.

TRUSTEES' EXPENSES

There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.

6. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs		 2022
£
111,134
3,045
2,456
116,635		 2021
£
96,953
1,717
1,871
100,541

The average monthly number of employees during the year was as follows:

Administration
Front of house		 2022
3
7
10		 2021
3
7
10

No employees received emoluments in excess of £60,000.

7.

COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
34,339
Other trading activities
98,000
Total
132,339
EXPENDITURE ON
Raising funds
2,814
Charitable activities
General
158,713
Rent
-
Total
161,527
NET INCOME/(EXPENDITURE)
(29,188)
Transfers between funds
151,900
Net movement in funds
122,712		 Restricted
fund
£
222,156
-
222,156
-
3,380
10,000
13,380
208,776
(151,900)
56,876		 Total
funds
£
256,495
98,000
354,495
2,814
162,093
10,000
174,907
179,588
-
179,588

Page 13

continued...

CHATS PALACE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

7.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
fund
fund
£
£
RECONCILIATION OF FUNDS
Total funds brought forward
(7,569)
3,380
TOTAL FUNDS CARRIED FORWARD
115,143
60,256
8.
TANGIBLE FIXED ASSETS
Fixtures
and
Computer
fittings
equipment
£
£
COST
At 1 April 2021
59,672
29,248
Additions
2,065
218
At 31 March 2022
61,737
29,466
DEPRECIATION
At 1 April 2021
48,889
27,081
Charge for year
3,212
596
At 31 March 2022
52,101
27,677
NET BOOK VALUE
At 31 March 2022
9,636
1,789
At 31 March 2021
10,783
2,167
9.
BAR STOCK
2022
£
Stocks
1,161
10.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022
£
Other debtors
18,159
Prepayments and accrued income
2,262
20,421		 Total
funds
£
(4,189)
175,399
Totals
£
88,920
2,283
91,203
75,970
3,808
79,778
11,425
12,950
2021
£
1,181
2021
£
14,134
3,342
17,476

Page 14

continued...

CHATS PALACE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Social security and other taxes
Other creditors
Accrued expenses		 2022
£
3,049
10,179
13,951
27,179		 2021
£
-
1,388
9,688
11,076

12. MOVEMENT IN FUNDS

At 1.4.21
£
Unrestricted funds
General fund
115,143
Restricted funds
Restricted funds
60,256
TOTAL FUNDS
175,399
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Restricted funds
TOTAL FUNDS		 Net
movement
in funds
£
(79,128)
27,114
(52,014)
Incoming
resources
£
101,569
70,814
172,383		 Transfers
between
At
funds
31.3.22
£
£
82,816
118,831
(82,816)
4,554
-
123,385
Resources
Movement
expended
in funds
£
£
(180,697)
(79,128)
(43,700)
27,114
(224,397)
(52,014)

Comparatives for movement in funds

Unrestricted funds
General fund
Restricted funds
Restricted funds
TOTAL FUNDS		 At 1.4.20
£
(7,569)
3,380
(4,189)		 Net
movement
in funds
£
(29,188)
208,776
179,588		 Transfers
between
funds
£
151,900
(151,900)
-		 At
31.3.21
£
115,143
60,256
175,399

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continued...

CHATS PALACE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

12. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Restricted funds
TOTAL FUNDS		 Incoming
resources
£
132,339
222,156
354,495		 Resources
Movement
expended
in funds
£
£
(161,527)
(29,188)
(13,380)
208,776
(174,907)
179,588

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Restricted funds
Restricted funds
TOTAL FUNDS		 At 1.4.20
£
(7,569)
3,380
(4,189)		 Net
movement
in funds
£
(108,316)
235,890
127,574		 Transfers
between
funds
£
234,716
(234,716)
-		 At
31.3.22
£
118,831
4,554
123,385

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 233,908 (342,224) (108,316)
Restricted funds
Restricted funds 292,970 (57,080) 235,890
TOTAL FUNDS 526,878 (399,304) 127,574

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continued...

CHATS PALACE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

13. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2022.

Page 17

CHATS PALACE LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Grants
Other trading activities
Space Hire
Bar income
Insurance Compensation (Emergency
Action)
Government Grants
Total incoming resources
EXPENDITURE
Other trading activities
Opening stock
Purchases
Bad debts
Closing stock
Charitable activities
Wages
Social security
Pensions
Rent, rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Advertising and marketing
Sundries
Repairs and renewals
Cleaning
Subscriptions and membership
Licenses and royalties
Subcontractors
Fixtures and fittings depreciation
Computer equipment depreciation		 2022
£
188
95,814
96,002
40,274
15,219
-
20,888
76,381
172,383
1,181
7,481
-
(1,161)
7,501
111,134
3,045
2,456
10,255
1,292
1,465
2,380
2,474
8,860
527
23,923
1,768
1,856
2,095
33,990
3,212
596
211,328		 2021
£
11,059
245,436
256,495
3,054
-
25,000
69,946
98,000
354,495
2,145
591
1,259
(1,181)
2,814
96,953
1,717
1,871
10,621
1,303
3,033
2,437
142
3,624
113
14,714
1,329
968
1,888
23,006
3,595
722
168,036

This page does not form part of the statutory financial statements

Page 18

CHATS PALACE LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

Support costs
Finance
Bank and credit card charges
Governance costs
Accountancy fees
Professional fees
Total resources expended
Net (expenditure)/income		 2022
£
562
3,300
1,706
5,006
224,397
(52,014)		 2021
£
84
2,520
1,453
3,973
174,907
179,588

This page does not form part of the statutory financial statements

Page 19