**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. 

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**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: 

- 0-3 years: 1 show/2 performances - 130 tickets. 

- Both shows sold out/ overall 100% sales 

- 2-5 years: 1 show/2 performances - 120 tickets. 

1 sold out show/ overall 79% sales 

- 3-8 years: 3 shows/6 performances - 360 tickets. 

- 2 sold out shows/ overall 70% sales 

- 7+ years: 1 show/1 performance - 60 tickets. 

- 35 tickets sold /58% 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<br>fund<br>Notes<br>£<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>2<br>25,188<br>Other trading activities<br>3<br>76,381<br>**Total**<br>101,569<br>**EXPENDITURE ON**<br>Raising funds<br>7,501<br>**Charitable activities**<br>General<br>173,196<br>Rent<br>-<br>**Total**<br>180,697<br>**NET INCOME/(EXPENDITURE)**<br>(79,128)<br>**Transfers between funds**<br>12<br>82,816<br>**Net movement in funds**<br>3,688<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>115,143<br>**TOTAL FUNDS CARRIED FORWARD**<br>118,831|Restricted<br>fund<br>£<br>70,814<br>-<br>70,814<br>-<br>33,700<br>10,000<br>43,700<br>27,114<br>(82,816)<br>(55,702)<br>60,256<br>4,554|2022<br>Total<br>funds<br>£<br>96,002<br>76,381<br>172,383<br>7,501<br>206,896<br>10,000<br>224,397<br>(52,014)<br>-<br>(52,014)<br>175,399<br>123,385|2021<br>Total<br>funds<br>£<br>256,495<br>98,000<br>354,495<br>2,814<br>162,093<br>10,000<br>174,907<br>179,588<br>-<br>179,588<br>(4,189)<br>175,399|
|---|---|---|---|



The notes form part of these financial statements 

Page 8 



## **CHATS PALACE LIMITED** 

## **BALANCE SHEET 31 MARCH 2022** 

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

- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and 

- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. 

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



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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<br>Social security costs<br>Other pension costs|2022<br>£<br>111,134<br>3,045<br>2,456<br>116,635|2021<br>£<br>96,953<br>1,717<br>1,871|
|---|---|---|
|||100,541|



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

|Administration<br>Front of house|2022<br>3<br>7<br>10|2021<br>3<br>7|
|---|---|---|
|||10|



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

## **7.** 

## **COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** 

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



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continued... 



**CHATS PALACE LIMITED** 

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

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



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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<br>Other creditors<br>Accrued expenses|2022<br>£<br>3,049<br>10,179<br>13,951<br>27,179|2021<br>£<br>-<br>1,388<br>9,688|
|---|---|---|
|||11,076|



**12. MOVEMENT IN FUNDS** 

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



## **Comparatives for movement in funds** 

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



Page 15 

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



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

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



Page 16 

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**<br>**Donations and legacies**<br>Donations<br>Grants<br>**Other trading activities**<br>Space Hire<br>Bar income<br>Insurance Compensation (Emergency<br>Action)<br>Government Grants<br>**Total incoming resources**<br>**EXPENDITURE**<br>**Other trading activities**<br>Opening stock<br>Purchases<br>Bad debts<br>Closing stock<br>**Charitable activities**<br>Wages<br>Social security<br>Pensions<br>Rent, rates and water<br>Insurance<br>Light and heat<br>Telephone<br>Postage and stationery<br>Advertising and marketing<br>Sundries<br>Repairs and renewals<br>Cleaning<br>Subscriptions and membership<br>Licenses and royalties<br>Subcontractors<br>Fixtures and fittings depreciation<br>Computer equipment depreciation|2022<br>£<br>188<br>95,814<br>96,002<br>40,274<br>15,219<br>-<br>20,888<br>76,381<br>172,383<br>1,181<br>7,481<br>-<br>(1,161)<br>7,501<br>111,134<br>3,045<br>2,456<br>10,255<br>1,292<br>1,465<br>2,380<br>2,474<br>8,860<br>527<br>23,923<br>1,768<br>1,856<br>2,095<br>33,990<br>3,212<br>596<br>211,328|2021<br>£<br>11,059<br>245,436<br>256,495<br>3,054<br>-<br>25,000<br>69,946<br>98,000<br>354,495<br>2,145<br>591<br>1,259<br>(1,181)<br>2,814<br>96,953<br>1,717<br>1,871<br>10,621<br>1,303<br>3,033<br>2,437<br>142<br>3,624<br>113<br>14,714<br>1,329<br>968<br>1,888<br>23,006<br>3,595<br>722<br>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**<br>**Finance**<br>Bank and credit card charges<br>**Governance costs**<br>Accountancy fees<br>Professional fees<br>Total resources expended<br>**Net (expenditure)/income**|2022<br>£<br>562<br>3,300<br>1,706<br>5,006<br>224,397<br>(52,014)|2021<br>£<br>84<br>2,520<br>1,453|
|---|---|---|
|||3,973|
|||174,907|
|||179,588|



This page does not form part of the statutory financial statements 

Page 19