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2025-03-31-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 2025

FOR

CHATS PALACE LIMITED

CHATS PALACE LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Page
Report of the Trustees 1 to 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8 to 9
Notes to the Financial Statements 10 to 17
Detailed Statement of Financial Activities 18 to 19

CHATS PALACE LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

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 2025. 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

Chats Palace Arts Centre is an east London community centre with civic role. Our key focus areas are with those who are marginalised, excluded or without a voice. We work with our community to devise and deliver creative projects and provide space for a wide range of positive activities. 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 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, 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 consider that the charitable activities of Chats Palace provide a benefit to the public.

Page 1

CHATS PALACE LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

ACHIEVEMENTS 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 nearly 50 years. Our key focus areas are with those who are marginalised, excluded or without a voice; working in partnership we devise and 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 (Hackney Council 2026): 1 of 10 most deprived English authorities, has the second highest IDAOPI measuring Older People poverty, with 11 in 20 Elders experiencing income deprivation (IMD 2025). 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.

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.

Civic Programme: Homerton Assembly

Community platform:

We continued to offer space to our Muslim community partners, Abu Hurairah, for their Friday prayers. NHS Homerton continue to use Chats Palace as their base for a series of public consultation workshops.

Resident social enterprises:

Our partnership with Photochats continued to strengthen, with their community dark rooms supporting local amateur photographers.

Elders programme:

The Palace Club firmly established its position as our flagship civic programme, supporting Hackney's Elders (aged 65+yrs) with also the second year of a 3-year Spring/Summer Walking Club programme, funded by Mayor of London. Aimed at supporting health and fitness for local Elders, this programme delivered 29 walks - ranging from 15 mins in a local park to longer cultural trips and hikes in Epping Forest and Walthamstow Wetlands.

Arts Programme highlight

Breathe With Me Homerton Thu 13 Mar 2025

Visitors experienced an intimate snapshot of life in Hackney in Breathe with Me Homerton - a journey of voices, stories, and footsteps that people may not have heard before.

It was an exciting new commission by Chats Palace inviting the public to be part of an auditory journey through this, one of Hackney's landmark buildings, searching for the way Homerton's residents breathe as a collective.

Inspired by our established Palace Club programme for local elders, this project was a collage of local voices, exploring the idea of a community's identity in relation to time.

Breathe With Me Homerton was a celebration of our neighbourhood and the people inhabiting it and starts from the simple question: "What does it mean to breathe?". A virtual walk across Homerton experienced through sounds and words collected in the neighbourhood, the outside world infiltrated Chats Palace - inviting the visitors to see Homerton through new eyes.

Page 2

CHATS PALACE LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Breathe With Me Homerton Thu 13 Mar 2025 - Continued

Audience members were guided on a sound voyage with headphones through a series of chapters about Homerton on the ground floor of Chats Palace, as our unseen narrators breathed new life into our understanding of life in Hackney now.

Lead artist: Silvia Mercuriali is a British-Italian theatre maker and artist and a Hackney resident of 20+ years. An associate artist of cult art group, SHUNT, Silvia is a pioneer of instruction based 'autoteatro', merging sound installation with theatre. Her work places audiences at the core as co-creators, participants, performers, focusing on their role in relation to their environment and to each other. She has presented work internationally and has been commissioned by cultural centres and theatres including Brisbane Powerhouse (AUS), Museum of Art of Kochi (JP) as well as UK commissioning bodies such as Wellcome Trust, Fuel Theatres, The Roundhouse, Battersea Arts Centre, and Harrogate Theatre & Yorkshire Festival.

This project was funded by Cultural Hackney - a Hackney Council initiative reflecting and celebrating the borough's rich diversity and heritage through its communities, with additional Support from Unity Theatre Trust.

Family

Chats Palace continued to offer amazing shows during school holidays for a younger audience. Two of our sellout shows were 'Oily Cart present: When The World Turns' & 'Second Hand Dance present: The Sticky Dance'. We are planning to expand our theatre offering for younger audiences over the next few years. Working in collaboration with companies, keeping ticket prices affordable to the community by offsetting the costs with in-kind space for rehearsal and research and development of new works.

Premier/Showcase event highlight

Kabosh Theatre presents Callings 18 & 19 Oct 2024

The Kabosh Theatre presented two sold out showings of this new work, to great acclaim. 'Callings' follows five queer people who found sanctuary and community on the other end of the phone by seeking solace in Cara-Friend - a befriending service set up in the 1970's to support the many hidden LGBTQ+ individuals across the north of Ireland. Charged with the music of the day, and set amidst a storm of anti-gay headlines, Callings delves deep into the struggle for survival our queer communities faced on a daily basis. Callings poignantly and powerfully expresses how even simple acts of connection can change the course of a life, and how during oppressive times, a gang of bright and brilliant queer people crafted community to save themselves and each other. In an era when the government attempted to quash their right to exist, these moments of connection were an act of resistance and rebellion. From rallying against the Save Ulster from Sodomy campaign to revelling in the right to exist won through the Dudgeon vs UK trial, Callings looks back at the historical challenges faced by LGBTQ+ communities, and celebrates just how far we've come.

FINANCIAL REVIEW

Financial position

Income for the year increased by £47,056, to £177,666 (2024: £130,610), and expenditure increased by £33,620, to £213,546 (2024: £179,926). This resulted in a planned overspend for the year of £35,880 (2024: £49,316).

Cash decreased by £22,406, to £63 (2024: £22,469) and unrestricted reserves showed a deficit of £28,817 (2024: surplus of £4,063). Although the balance sheet is in a negative position, the trustees are satisfied with the charity's overall results for the year.

Page 3

CHATS PALACE LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

FINANCIAL REVIEW

Reserves policy

Chats Palace's reserves policy is to hold three months of expenditure in unrestricted funds, in current assets. Due to challenges of the current economic climate, the Charity has been unable to meet this policy. However, 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 £38,500 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, was extended by a further three years to March 2023 and renewed for the current period with a 5% increase. This will however be the last time the grant is made by the Borough.

The Charity wishes to extend its thanks to the generous support of the following institutions which have supported us during the year including City Bridge Foundation, The McCarthy Stone Charitable Foundation, SEC Foundation, Good Things Foundation, Unity Theatre Trust, The Mercers' Company and Groundwork.

Going Concern

The Trustees are aware of the deficit in net assets at the year end. Subsequent to the year end, some of the Trustees provided financial support to the Charity through loans of £6,000. Following the appointment of Mark Francis-Vasey as managing director in May 2025, the Charity has benefitted from his experience and the implementation of a new action plan aimed at strengthening its financial position and resources. The Charity has continued to operate since the reporting date, and the Trustees consider the going concern basis to be appropriate in the preparation of these financial statements. It is anticipated the loan will be repaid to the Trustees by 31 March 2027.

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 Ms G Cossins (appointed 24.4.2024) (resigned 5.3.2025) Ms A Andrew (appointed 9.4.2025) H Wittkopf (appointed 9.4.2025)

Page 4

CHATS PALACE LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

REFERENCE AND ADMINISTRATIVE DETAILS

Independent Examiner

John Carroll FCCA CTA Jones Hunt & Keelings Chartered Certified Accountants and Chartered Tax Advisers 7-8 Portmill Lane Hitchin Hertfordshire SG5 1DJ

Approved by order of the board of trustees on 19 June 2026 and signed on its behalf by:

C H F Ng - Trustee

Page 5

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 2025.

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

  2. 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

  3. 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 7-8 Portmill Lane Hitchin Hertfordshire SG5 1DJ

19 June 2026

Page 6

CHATS PALACE LIMITED

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

2025
Unrestricted
Restricted
Total
fund
fund
funds
Notes
£
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
42,129
55,501
97,630
Other trading activities
3
80,001
-
80,001
Investment income
4
35
-
35
Total
122,165
55,501
177,666
EXPENDITURE ON
Raising funds
7,776
-
7,776
Charitable activities
General
147,269
48,474
195,743
Rent
-
10,027
10,027
Total
155,045
58,501
213,546
NET INCOME/(EXPENDITURE)
(32,880)
(3,000)
(35,880)
RECONCILIATION OF FUNDS
Total funds brought forward
4,063
3,000
7,063
TOTAL FUNDS CARRIED FORWARD
(28,817)
-
(28,817)		 2024
Total
funds
£
59,214
70,854
542
130,610
3,002
166,924
10,000
179,926
(49,316)
56,379
7,063

The notes form part of these financial statements

Page 7

CHATS PALACE LIMITED

BALANCE SHEET 31 MARCH 2025

Unrestricted
Restricted
fund
fund
Notes
£
£
FIXED ASSETS
Tangible assets
9
4,820
-
CURRENT ASSETS
Stocks
10
177
-
Debtors
11
8,364
-
Cash at bank
63
-
8,604
-
CREDITORS
Amounts falling due within one year
12
(42,241)
-
NET CURRENT ASSETS/(LIABILITIES)
(33,637)
-
TOTAL ASSETS LESS CURRENT
LIABILITIES
(28,817)
-
NET ASSETS/(LIABILITIES)
(28,817)
-
FUNDS
14
Unrestricted funds
Restricted funds
TOTAL FUNDS		 2025
Total
funds
£
4,820
177
8,364
63
8,604
(42,241)
(33,637)
(28,817)
(28,817)
(28,817)
-
(28,817)		 2024
Total
funds
£
6,427
1,885
7,778
22,469
32,132
(31,496)
636
7,063
7,063
4,063
3,000
7,063

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 8

CHATS PALACE LIMITED

BALANCE SHEET - continued 31 MARCH 2025

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 19 June 2026 and were signed on its behalf by:

C H F Ng - Trustee

The notes form part of these financial statements

Page 9

CHATS PALACE LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

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 and evidence 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.

continued...

Page 10

CHATS PALACE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

1. ACCOUNTING POLICIES - continued

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:

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 and 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 AND LEGACIES
Donations
Grants		 2025
£
166
97,464
97,630		 2024
£
4,714
54,500
59,214

continued...

Page 11

CHATS PALACE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

2. DONATIONS AND LEGACIES - continued

Grants received, included in the above, are as follows:

2025 2024
£ £
London Borough of Hackney 38,500 38,500
Walking and Cycling Grants London - 3,000
Cost of Living Grant - 10,000
Magic Little Grant - 500
Hedley Grant - 2,500
City Bridge Foundation 20,000 -
The McCarthy Stone Charitable Foundation 7,000 -
SEC Foundation 5,000 -
Good Things Foundation 6,464 -
Unity Theatre Trust 1,000 -
The Mercers' Company 17,500 -
Groundwork 2,000 -
97,464 54,500
OTHER TRADING ACTIVITIES
2025 2024
£ £
Space hire 59,399 59,659
Bar income 20,602 11,195
80,001 70,854
INVESTMENT INCOME
2025 2024
£ £
Bank interest received 35 542
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
2025 2024
£ £
Depreciation - owned assets 1,607 2,142

3. OTHER TRADING ACTIVITIES

4. INVESTMENT INCOME

5. NET INCOME/(EXPENDITURE)

continued...

Page 12

CHATS PALACE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.

7. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs		 2025
£
88,811
2,995
2,544
94,350		 2024
£
87,958
3,024
2,713
93,695

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

Administration
Front of house		 2025
2
4
6		 2024
3
6
9

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

8.

COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
46,214
Other trading activities
70,854
Investment income
542
Total
117,610
EXPENDITURE ON
Raising funds
3,002
Charitable activities
General
152,782
Rent
-
Total
155,784
NET INCOME/(EXPENDITURE)
(38,174)
RECONCILIATION OF FUNDS
Total funds brought forward
42,237		 Restricted
fund
£
13,000
-
-
13,000
-
14,142
10,000
24,142
(11,142)
14,142		 Total
funds
£
59,214
70,854
542
130,610
3,002
166,924
10,000
179,926
(49,316)
56,379

continued...

Page 13

CHATS PALACE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

8.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
fund
fund
£
£
TOTAL FUNDS CARRIED FORWARD
4,063
3,000
9.
TANGIBLE FIXED ASSETS
Fixtures
and
Computer
fittings
equipment
£
£
COST
At 1 April 2024 and 31 March 2025
61,737
29,466
DEPRECIATION
At 1 April 2024
56,317
28,459
Charge for year
1,355
252
At 31 March 2025
57,672
28,711
NET BOOK VALUE
At 31 March 2025
4,065
755
At 31 March 2024
5,420
1,007
10.
STOCKS
2025
£
Stocks
177
11.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
£
Trade debtors
8,364
Prepayments and accrued income
-
8,364		 Total
funds
£
7,063
Totals
£
91,203
84,776
1,607
86,383
4,820
6,427
2024
£
1,885
2024
£
5,000
2,778
7,778

continued...

Page 14

CHATS PALACE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Social security and other taxes
Other creditors
Accrued expenses		 2025
£
4,075
21,788
16,378
42,241		 2024
£
4,268
13,795
13,433
31,496

13. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year
Between one and five years
The new four year lease commenced on 31 December 2023.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
Restricted funds
Restricted funds
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Restricted funds
TOTAL FUNDS		 At 1.4.24
£
4,063
3,000
7,063
Incoming
resources
£
122,165
55,501
177,666		 2025
2024
£
£
10,000
10,000
15,000
25,000
25,000
35,000
Net
movement
At
in funds
31.3.25
£
£
(32,880)
(28,817)
(3,000)
-
(35,880)
(28,817)
Resources
Movement
expended
in funds
£
£
(155,045)
(32,880)
(58,501)
(3,000)
(213,546)
(35,880)		 2025
2024
£
£
10,000
10,000
15,000
25,000
25,000
35,000
Net
movement
At
in funds
31.3.25
£
£
(32,880)
(28,817)
(3,000)
-
(35,880)
(28,817)
Resources
Movement
expended
in funds
£
£
(155,045)
(32,880)
(58,501)
(3,000)
(213,546)
(35,880)		 2024
£
10,000
25,000
35,000
(35,880)

14. MOVEMENT IN FUNDS

continued...

Page 15

CHATS PALACE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

14. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1.4.23
£
Unrestricted funds
General fund
42,237
Restricted funds
Restricted funds
14,142
TOTAL FUNDS
56,379
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
117,610
Restricted funds
Restricted funds
13,000
TOTAL FUNDS
130,610		 Net
movement
At
in funds
31.3.24
£
£
(38,174)
4,063
(11,142)
3,000
(49,316)
7,063
Resources
Movement
expended
in funds
£
£
(155,784)
(38,174)
(24,142)
(11,142)
(179,926)
(49,316)

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

Net
movement At
At 1.4.23 in funds 31.3.25
£ £ £
Unrestricted funds
General fund 42,237 (71,054) (28,817)
Restricted funds
Restricted funds 14,142 (14,142) -
TOTAL FUNDS 56,379 (85,196) (28,817)

continued...

Page 16

CHATS PALACE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

14. MOVEMENT IN FUNDS - continued

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
£
239,775
68,501
308,276		 Resources
Movement
expended
in funds
£
£
(310,829)
(71,054)
(82,643)
(14,142)
(393,472)
(85,196)

15. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2025 nor the year ended 31 March 2024.

Page 17

CHATS PALACE LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Grants
Other trading activities
Space hire
Bar income
Investment income
Bank interest received
Total incoming resources
EXPENDITURE
Other trading activities
Opening stock
Purchases
Bank interest
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
IT support and maintenance
Fixtures and fittings depreciation
Computer equipment depreciation		 2025
£
166
97,464
97,630
59,399
20,602
80,001
35
177,666
1,885
6,039
30
(178)
7,776
88,811
2,995
2,544
12,034
1,519
5,161
3,575
323
2,216
1,194
7,010
7,626
2,591
2,853
52,051
3,333
1,355
252
197,443		 2024
£
4,714
54,500
59,214
59,659
11,195
70,854
542
130,610
981
3,906
-
(1,885)
3,002
87,958
3,024
2,713
10,136
1,409
2,239
3,084
338
604
197
588
7,461
1,973
1,594
43,392
2,419
1,807
335
171,271

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 2025

Support costs
Finance
Bank and credit card charges
Governance costs
Accountancy fees
Professional fees
Total resources expended
Net expenditure		 2025
£
1,241
5,520
1,566
7,086
213,546
(35,880)		 2024
£
1,009
3,000
1,644
4,644
179,926
(49,316)

This page does not form part of the statutory financial statements

Page 19