Digitally Signed Document Document ID: 37A2814690B548 ## Document Details: |**Filename:**|2023 accounts for Companies House.pdf| |---|---| ||| |**Client of:**|Jones Hunt & Keelings| ## Signature Details |**Name:**|Calvin Ng| |---|---| ||| |**Email:**|Calvin.Ng@lw.com| ||| |**Date & Time:**|21/12/2023 11:07:37 AM (GMT)| ||| |**IP Address:**|154.14.19.19| ||| |**Signing Statement:**|Calvin Ng agrees and approves the contents of
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Jones Hunt & Keelings is powered by IRIS OpenSpace. **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 2023** **FOR** **CHATS PALACE LIMITED** **CHATS PALACE LIMITED** ## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** |||**Page**|| |---|---|---|---| |**Report of the Trustees**|1|to|4| |**Independent Examiner's Report**||5|| |**Statement of Financial Activities**||6|| |**Balance Sheet**||7|| |**Notes to the Financial Statements**|8|to|14| |**Detailed Statement of Financial Activities**|15|to|16| **CHATS PALACE LIMITED** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023** 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 2023. 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 in the United Kingdom without distinction of political religious or other opinions by associating with local and other government authorities, stautory 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 2023** ## **ACHIEVEMENT AND PERFORMANCE** ## **Charitable activities** Chats Palace Arts Centre is an east London community centre with civic role, empowering local people. We are a trusted body and our building a safe space, with reputation that goes back 40+ years. Our key focus areas are with those who are marginalised, excluded or without a voice; working in partnership we devise/deliver projects that combine artistic and social interaction to engender positive, life-long change. Our equality-driven programme is shaped by strong track record of engagement with our local community to identify and address issues of public concern. Chats Palace is based in Hackney, London's 6th most ethnically diverse borough (GLA DI 2017): 1 of 10 most deprived English authorities (IMD 2019), ranking top 10% IDAOPI measuring Older People poverty, with 2 in 5 Elders experiencing income deprivation. We are passionate about the role we play in strengthening this distinctive, diverse community. With 40,000 annual visits to our building, we pride ourselves on developing inclusive local relationships and partnerships. Through proactive engagement 2016-19, we increased the number of local not-for-profit organisations using Chats Palace from 3 to 22 and community participants from 6,000 to 16,500 p/a: 70% of people we reach in our target groups live in Hackney and reflect our borough's diversity. Chats Palace has a collaborative approach to realising our civic and cultural objectives. We continue to work with our existing partners as well as developing new partners to collaborate with us on delivery of our innovative new programmes. We see this as an essential route through which we may extend the reach of our projects and allow time and space for local people to be involved in their creation and delivery. A 2021 CCLORS grant from Power to Change funded a new civic project, Homerton Assembly, which reopened Chats Palace as a series of safe spaces created by and for targeted members of our community. We were already powerfully connected to Hackney residents: opening up our building and offering meeting space and a curated programme of civic-focused and inspired activities, we have continued to develop Homerton Assembly as a platform to support local people to come together to form a community with new bonds and strengthened commitment to each other. Following the economic devastation of Omicron and Plan B from Dec 21 - March 22, Chats Palace weathered the storm and welcomed a new financial year with a modest, low-risk programme designed to get our community back into the building and socialising. Our new Tues@Chats programme focused on events hosted in the Library Bar - a mixed programme of free activities, from live music to comedy nights, spoken word and chess. Running from April to July 2022, all events were well attended with chess club a surprise hit: around 30 people of all ages came together each month to play chess. Live music as part of Tues@Chats was our biggest draw, packing out the bar with between 40 - 50 people. The transition back to full-scale live music proved to be tougher, with many bands choosing not to tour. We only had two live gigs in this period, both of which were sell-out successes. In the latter half of the year, and as forecast, the impact of the ongoing cost-of-living crisis had a detrimental effect on Chats Palace's earned income streams. A drop in event hires was matched by a contraction in touring arts productions - both live music and theatre. This year concluded a necessary transition from an old operational model to one significantly different from previous, pre-Covid years. Now we commission and produce our own projects, sharing the delivery with key partners and focusing on a range of civic and arts objectives that more closely match the needs of local people. ## **Arts Programme Highlights** ## **Creation Space:** Five creative companies with established links to east London made their new shows at Chats Palace under our new Creation Space banner. This allowed each company a concentrated period to develop their new productions prior to taking them on tour as well as showcase opportunities in our theatre. All productions were supported by Arts Council England: - " It Begins In Darkness (Seke Chimutengwende) Touring: premiered Bristol Sept 2022 - " Quiet Rebels (Vital Xposure) Touring: premiered Belgrade Coventry Sept 2022 - " The Crack (Athletes of the Heart) Chats Palace co-production Chats Palace performances: 2 public performances - " The Rite of Spring (Seeta Patel Dance) Touring: Sadler's Wells - " Nothing on Earth (Pursued by a Bear) Chats Palace co-production Chats Palace performances: 3 public performances ## **Visual Art:** We commissioned and curated two new photography exhibitions in partnership with the respective photographers: Justine Cal: In My Block (opened 7 July 2022) Sheila Burnett: The Female Gaze (opened 8 Feb 2023) Page 2 **CHATS PALACE LIMITED** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023** ## **Civic Programme Highlights:** Warm Spaces Between January to March 2023, we operated as a Warm Spaces refuge for Elders aged 65+yrs living in Hackney, offering opportunities for people to relax, chat and play board games in our heated building. During each session we offered participants a free, nutritious hot meal from a local caterer along with free tea & coffee and plenty of biscuits. The majority of the people who accessed the service lived within walking distance of Chats Palace, many from the neighbouring estates. Feedback from our Warm Spaces was very positive with participants commenting: - Thank you for a great morning. Loved the group, the activities, and the food. - Thank you for all your hard work and the lunches you provided for us each week without fail. - I really don't want to miss a session as I found it most enjoyable last week. ## **FINANCIAL REVIEW** ## **Financial position** Income for the year decreased by £7,202, to £165,181 (2022: £172,383), and expenditure increased by £7,790, to £232,187 (2022: £224,397). This resulted in a planned overspend for the year of £67,006 (2022: £52,014). Cash decreased by £88,154, to £29,403 (2022: £117,557), unrestricted reserves stood at £42,237 (2022: £118,831) and restricted reserves stood at £14,142 (2022: £4,554) at the year end. The trustees are satisfied with the charity's overall results for the year. ## **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. Chats Palace Board continues to work steadily to achieve and maintain this policy through the development of an increasingly robust business model. Although the charity's reserve policy is not currently being met, the trustees believe that funds will be returned to an acceptable level in the forthcoming year. ## **Funding** London Borough of Hackney supports Chats Palace with a Specialist Grant of £35,000.00 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 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. ## **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. ## **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** J May C H F Ng R S Norton-Hale I D Rathbone G D Bridgewood R Rennison (resigned 26.4.2022) Page 3 **CHATS PALACE LIMITED** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023** ## **REFERENCE AND ADMINISTRATIVE DETAILS** **Independent Examiner** John Carroll FCCA CTA Jones Hunt & Keelings Chartered Certified Accountants and Chartered Tax Advisers 71 Knowl Piece Wilbury Way Hitchin Hertfordshire SG4 0TY Approved by order of the board of trustees on 18 December 2023 and signed on its behalf by: C H F Ng - Trustee Page 4 ## **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 2023. ## **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. John Carroll FCCA CTA Jones Hunt & Keelings Chartered Certified Accountants and Chartered Tax Advisers 71 Knowl Piece Wilbury Way Hitchin Hertfordshire SG4 0TY 18 December 2023 Page 5 **CHATS PALACE LIMITED** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023** |Unrestricted
Restricted
fund
fund
Notes
£
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
**29,277**
**65,360**
Other trading activities
3
**70,495**
**-**
Investment income
4
**49**
**-**
**Total**
**99,821**
**65,360**
**EXPENDITURE ON**
Raising funds
**9,800**
**-**
**Charitable activities**
General
**191,615**
**20,772**
Rent
**-**
**10,000**
**Total**
**201,415**
**30,772 **
**NET INCOME/(EXPENDITURE)**
**(101,594)**
**34,588**
**Transfers between funds**
13
**25,000**
**(25,000)**
**Net movement in funds**
**(76,594)**
**9,588**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**118,831**
**4,554**
**TOTAL FUNDS CARRIED FORWARD**
**42,237**
**14,142**|**2023**
**Total**
**funds**
**£**
**94,637**
**70,495**
**49**
**165,181 **
**9,800**
**212,387**
**10,000**
**232,187**
**(67,006)**
**-**
**(67,006)**
**123,385**
**56,379**|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| |---|---|---| The notes form part of these financial statements Page 6 ## **CHATS PALACE LIMITED** ## **BALANCE SHEET 31 MARCH 2023** |Unrestricted
Restricted
fund
fund
Notes
£
£
**FIXED ASSETS**
Tangible assets
9
**8,569**
**-**
**CURRENT ASSETS**
Stocks
10
**981**
**-**
Debtors
11
**35,975**
**-**
Cash at bank
**15,261**
**14,142**
**52,217**
**14,142**
**CREDITORS**
Amounts falling due within one year
12
**(18,549)**
**-**
**NET CURRENT ASSETS**
**33,668**
**14,142**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**42,237**
**14,142**
**NET ASSETS**
**42,237**
**14,142**
**FUNDS**
13
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|**2023**
**Total**
**funds**
**£**
**8,569**
**981**
**35,975**
**29,403**
**66,359**
**(18,549)**
**47,810**
**56,379**
**56,379**
**42,237**
**14,142**
**56,379**|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| |---|---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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. 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 18 December 2023 and were signed on its behalf by: C H F Ng - Trustee The notes form part of these financial statements Page 7 **CHATS PALACE LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The financial statements are prepared on a going concern basis and under the historical cost convention. A significant proportion of the charity's income is derived from grants. Consequently, the applicability of the going concern basis is contingent upon the continued support of the charity's supporters. 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 at least the next twelve months. The presentation currency of the financial statements is the Pound Sterling (£). The principal accounting policies adopted are set out below. ## **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** Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. ## **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. ## **Significant judgements and estimates** Estimates and judgements are periodically evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates. The charity's significant accounting judgements and estimates are in respect of impairment of assets and depreciation. Details of these judgements and estimates are described below: - To determine whether there are indicators of impairment of the charity's tangible fixed assets. Factors taken into consideration include the economic viability and expected future financial performance of the asset and, where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit. continued... Page 8 **CHATS PALACE LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** ## **1. ACCOUNTING POLICIES - continued** ## **Significant judgements and estimates** - Tangible fixed assets are depreciated over their useful lives, taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values. ## **Financial instruments** The charity has elected to apply the provisions of Section 11 'Accounting for financial assets and financial liabilities' of Charities SORP (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 a nd settle the liability simultaneously. ## **Basic financial assets** Basic financial assets, which include debtors, 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, when 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. ## **Grants** Income from grants, whether capital or revenue, is recognised when the charity has entitlement to the funds, any conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably. ## **2.** ## **DONATIONS AND LEGACIES** |Donations
Grants
Grants received, included in the above, are as follows:
London Borough of Hackney
London Legacy Development Corporation
Voice4Change England
City & Hackney Together Contact Point
Arts Council England
Unity Theatre Trust
Pipeline Investment Trust Grant
Walking and Cycling Grants London
The National Lottery Community Fund|**2023**
**£**
**2,507**
**92,130**
**94,637**
**2023**
**£**
**40,961**
**25,000**
**-**
**-**
**15,777**
**600**
**1,627**
**4,665**
**3,500**
**92,130**|2022
£
188
95,814| |---|---|---| |||96,002| |||2022
£
40,000
20,000
21,826
13,988
-
-
-
-
-| |||95,814| Grants received, included in the above, are as follows: continued... Page 9 ## **CHATS PALACE LIMITED** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** ## **3. OTHER TRADING ACTIVITIES** |Space hire
Bar income
Government Grants
**4.**
**INVESTMENT INCOME**
Bank interest received
**5.**
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets|**2023**
**£**
**46,939**
**23,556**
**-**
**70,495**
**2023**
**£**
**49**
**2023**
**£**
**2,856**|2022
£
40,274
15,219
20,888
76,381
2022
£
-
2022
£
3,808| |---|---|---| ## **6. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022. ## **7. STAFF COSTS** |Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Administration
Front of house|**2023**
**£**
**127,333**
**5,101**
**3,276**
**135,710**
**2023**
**3**
**7**
**10**|2022
£
111,134
3,045
2,456| |---|---|---| |||116,635| |||2022
3
7
10| The average monthly number of employees during the year was as follows: No employees received emoluments in excess of £60,000. continued... Page 10 **CHATS PALACE LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** |**8.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
Restricted
fund
fund
£
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
25,188
70,814
Other trading activities
76,381
-
**Total**
101,569
70,814
**EXPENDITURE ON**
Raising funds
7,501
-
**Charitable activities**
General
173,196
33,700
Rent
-
10,000
**Total**
180,697
43,700
**NET INCOME/(EXPENDITURE)**
(79,128)
27,114
**Transfers between funds**
82,816
(82,816)
**Net movement in funds**
3,688
(55,702)
**RECONCILIATION OF FUNDS**
Total funds brought forward
115,143
60,256
**TOTAL FUNDS CARRIED FORWARD**
118,831
4,554
**9.**
**TANGIBLE FIXED ASSETS**
Fixtures
and
Computer
fittings
equipment
£
£
**COST**
At 1 April 2022 and 31 March 2023
**61,737**
**29,466**
**DEPRECIATION**
At 1 April 2022
**52,101**
**27,677**
Charge for year
**2,409**
**447**
At 31 March 2023
**54,510**
**28,124**
**NET BOOK VALUE**
At 31 March 2023
**7,227**
**1,342**
At 31 March 2022
9,636
1,789|Total
funds
£
96,002
76,381
172,383
7,501
206,896
10,000
224,397
(52,014)
-
(52,014)
175,399
123,385
Totals
£
**91,203**
**79,778**
**2,856**
**82,634**
**8,569**
11,425| |---|---| continued... Page 11 **CHATS PALACE LIMITED** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** |**10.**|**STOCKS**|||||| |---|---|---|---|---|---|---| ||||||**2023**|2022| ||||||**£**|£| ||Stocks||||**981 **|1,161| |**11.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||||| ||||||**2023**|2022| ||||||**£**|£| ||Other debtors||||**32,633**|18,159| ||Prepayments and accrued income||||**3,342**|2,262| ||||||**35,975**|20,421| |**12.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||||| ||||||**2023**|2022| ||||||**£**|£| ||Social security and other taxes||||**2,078**|3,049| ||Other creditors||||**7,299**|10,179| ||Accrued expenses||||**9,172 **|13,951| ||||||**18,549**|27,179| |**13.**|**MOVEMENT IN FUNDS**|||||| |||||Net|Transfers|| |||||movement|between|At| |||At|1.4.22|in funds|funds|31.3.23| ||||£|£|£|£| ||**Unrestricted funds**|||||| ||General fund|**118,831**||**(101,594)**|**25,000**|**42,237**| ||**Restricted funds**|||||| ||Restricted funds||**4,554**|**34,588**|**(25,000)**|**14,142**| ||**TOTAL FUNDS**|**123,385**||**(67,006)**|**-**|**56,379**| ||Net movement in funds, included in the above are as follows:|||||| |||||Incoming|Resources|Movement| |||||resources|expended|in funds| |||||£|£|£| ||**Unrestricted funds**|||||| ||General fund|||**99,821**|**(201,415)**|**(101,594)**| ||**Restricted funds**|||||| ||Restricted funds|||**65,360**|**(30,772)**|**34,588**| ||**TOTAL FUNDS**|||**165,181 **|**(232,187) **|**(67,006)**| continued... Page 12 **CHATS PALACE LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** ## **13. MOVEMENT IN FUNDS - continued** ## **Comparatives for movement in funds** |**Unrestricted funds**
General fund
**Restricted funds**
Restricted funds
**TOTAL FUNDS**|Net
movement
At 1.4.21
in funds
£
£
115,143
(79,128)
60,256
27,114
175,399
(52,014)|Transfers
between
funds
£
82,816
(82,816)
-|At
31.3.22
£
118,831
4,554| |---|---|---|---| ||||123,385| Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Restricted funds
**TOTAL FUNDS**|Incoming
Resources
Movement
resources
expended
in funds
£
£
£
101,569
(180,697)
(79,128)
70,814
(43,700)
27,114
172,383
(224,397)
(52,014)|Incoming
Resources
Movement
resources
expended
in funds
£
£
£
101,569
(180,697)
(79,128)
70,814
(43,700)
27,114
172,383
(224,397)
(52,014)| |---|---|---| |||(52,014)| 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**|Net
movement
At 1.4.21
in funds
£
£
115,143
(180,722)
60,256
61,702
175,399
(119,020)|Transfers
between
funds
£
107,816
(107,816)
-|At
31.3.23
£
42,237
14,142| |---|---|---|---| ||||56,379| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Restricted funds
**TOTAL FUNDS**|Incoming
Resources
Movement
resources
expended
in funds
£
£
£
201,390
(382,112)
(180,722)
136,174
(74,472)
61,702
337,564
(456,584)
(119,020)|Incoming
Resources
Movement
resources
expended
in funds
£
£
£
201,390
(382,112)
(180,722)
136,174
(74,472)
61,702
337,564
(456,584)
(119,020)| |---|---|---| |||(119,020)| continued... Page 13 **CHATS PALACE LIMITED** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** ## **14. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 March 2023. Page 14 **CHATS PALACE LIMITED** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023** |**DETAILED STATEMENT OF FINANCIAL ACTIVITIES**
**FOR THE YEAR ENDED 31 MARCH 2023**||| |---|---|---| ||2023|2022| ||£|£| |**INCOME AND ENDOWMENTS**||| |**Donations and legacies**||| |Donations|**2,507**|188| |Grants|**92,130**|95,814| ||**94,637**|96,002| |**Other trading activities**||| |Space hire|**46,939**|40,274| |Bar income|**23,556**|15,219| |Government Grants|**-**|20,888| ||**70,495**|76,381| |**Investment income**||| |Bank interest received|**49**|-| |**Total incoming resources**|**165,181**|172,383| |**EXPENDITURE**||| |**Other trading activities**||| |Opening stock|**1,161**|1,181| |Purchases|**9,620**|7,481| |Closing stock|**(981)**|(1,161)| ||**9,800**|7,501| |**Charitable activities**||| |Wages|**127,333**|111,134| |Social security|**5,101**|3,045| |Pensions|**3,276**|2,456| |Rent, rates and water|**11,776**|10,255| |Insurance|**1,514**|1,292| |Light and heat|**3,827**|1,465| |Telephone|**2,778**|2,380| |Postage and stationery|**767**|2,474| |Advertising and marketing|**2,152**|8,860| |Sundries|**492**|527| |Repairs and renewals|**377**|23,923| |Cleaning|**3,934**|1,768| |Subscriptions and membership|**1,837**|1,856| |Licenses and royalties|**844**|2,095| |Subcontractors|**43,252**|33,990| |IT support and maintenance|**3,653**|-| |Fixtures and fittings depreciation|**2,409**|3,212| |Computer equipment depreciation|**447**|596| ||**215,769**|211,328| |**Support costs**||| |**Finance**||| |Bank and credit card charges|**1,198**|562| This page does not form part of the statutory financial statements Page 15 **CHATS PALACE LIMITED** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023** |**DETAILED STATEMENT OF FINANCIAL ACTIVITIES**
**FOR THE YEAR ENDED 31 MARCH 2023**||| |---|---|---| ||2023|2022| ||£|£| |**Finance**||| |**Governance costs**||| |Accountancy fees|**3,300**|3,300| |Professional fees|**2,120**|1,706| ||**5,420**|5,006| |Total resources expended|**232,187**|224,397| |**Net expenditure**|**(67,006) **|(52,014)| This page does not form part of the statutory financial statements Page 16