**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
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 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
- (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
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:
- 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.
- 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 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