PADDINGTON ARTS TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Company No. 2224403 (Registered in England & Wales) Registered as a Charity Charity No. 298879
. PADDINGTON ARTS LEGAL AND ADMINISTRATIVE INFORMATION Directors Alan Hayling (Chairl Angela Piddock (Vice chalrl Leandra Box (Secretary) Alan Lazarus ITreasurerl Alison Stanley Adele Braithwaité Pat Buckley Lionel Mccalman Barrie Taylor Id. February 20241 Ansel Wong Hamza Taouzzale James Small-Edwards Cheryl Joseph Tracey Weekes Angela Piddock and James Small-Edw8rds are due to retire and may bè re-elected at the next annual general meeting Company Reglstered Number 2224403 Charlty Registered Number 298879 Registered Offlce 32 Woodfield Road, London W9 2BE Prinripal Operating Qffi¢e 32 Woodfield Eioad, London W9 2BE Chief-Executive Steve Shaw Accountants Henderson & Co, 87 Dev(mshire Road, London N13 4QU Bankers Metro Bank. 1 Southampton Row. London. WC1B SHA Staff Team Chief Executive - Steve Shaw Admirtlstrator- Steve Roberts Finance Worker- Dipa. Kotak Perfortning Arts Manager- Eldora Edward Emotion81 Support Worker- Melissa Desbonnes
PADDINGTON ARTS The Trustees. who are also directors of the charity for the purposes of the Companies Act. submit their annual rèport'and the accounts of Paddington Arts (the company} for the year ended 31 March 2024. The Trustees confirm that the annual report and financial statements of the company comply with current statutory requirements, the requirements of the company's goveming document and the provisions of the Statement of Recommended practi ISORP) "Accounting and Reporttng by Charities" issued in March 2005. Structure, Governance and Management Governing Document The company is registered as a charitable company IiTnited by guarantee and was set up by Memorandum of Association orl 3 March 1988. It is registered as a Charity with the Chartties Cornmission. Appointment and Recrultment of Trustees The Management of the Company is the responsibility of the Directors who are elected and co-opted under the terms of the Articles of Association of the Company. Induction and Training of Trustees Prospective Directors attend several board meetings as non-voting Observers bèfore they are considored for co-option or election to the main board. Usually new Diredors bring with them valuable knowledge and skills from which the organisation benefits greatly. If any Directors feel they require any specific tfftining al any time, relevant courses are offered subject to availability. Paddington Arts arranges group trainlng sessions for the Board around legal aTrd responsibility issues. Organisational Structure Paddington Arts has a Board of Trustees of up to 15 membern who meet approximately every six weeks. The Board of Trustees is responsible for the strategic Direction and Policy of the Charity and ensuring that the work done by the charity remains within the Charity's Objectives. The Chief Executive is responsible for all operational matters and reports to the Board of Trustees at every Board meeting. The Chief Executive manages the stsff. building and other resources as directed by the Board of Trustees. Objectlves and A¢tivftles The prfnclpal objertive5 of the Company are to.. Advance education through the promotion of the arts. with particular but r)ot exclusive referencè to the flelds of dance, drama. and Mdeo
PADDINGTON ARTS Advance education through the provision of training in Ihe fields of music, drama, dance. film 8nd video pioduction. and other arts and media skills. Provide recreational facilities with the object of improving the conditions of life of the beneficiaries. provided that those persons have need of such facilities by reason of their youth. age, infirrnity or disablement, poverty or social and economic Circumstan5. Strategies to Achieve Objectives The Company achleves its objectives by.. Building on current attendees to reach new young people including a focus on social exclusion and special needs groups Developing 2nd refining the current workshop pmgramme Exploring the area of accreditation, and the possibility of running daytime activities for 14-19-year-olds Funding - ensuring sufficienl money is available to deliver our programme and develop new initiatives Equality and Diversity- keeping policies and practice under review to ensure inclusion of those children and young people most in need Building use- reviewing the costs and benefits of renting out the building anij the balance between Paddington Arts and non-P8ddington Arts use Being aware of our competitors and maintaining our unique selling points Key Achlevements this year Workshops.. Our programme consists ofDan, Drama. and Sleelpan. Age groups are arranged for 6-10s. 11-15s and 16 -26. Projects: Arts in Schools - we worked with foLtr primary and three secondary schools, delivering dance, spoken word, photography, visu81 arts, carnival arts. We produced 8 ¢8mival theme sculpture (Night and Day) wf(h artist Carl Gabriel, which we took to Paddington Central and Maida Hill Market. It is now installed in our reception area. We also ran a Gardening Club for 8 short tlme. 2nd dellvered art and photography workshops at Special Needs School. Pathways Youth Media project to create content by young people for young people reflecting the diverse Community of North Paddington Emotional Support Programrne Provides one-to-one support for young people in need of confidential talk wilh a trusted Édult Carnival We performed at Notting Hill and Kingston Carnivals in partnership with Elimu Cainival Band
PADDINGTON ARTS Trips We took ten children to Paddington Farm in Glastonbury as part of our Sutnmer Holiday Programme. We also took ten children to Woodrow High House for ? weekend ofteam bonding, outdoor skills, and rehearsals for our upcoming show 'Annie 2024,. Performances Three nights anr)LEal show: two nights Christmas show- Carnival Launch at Paddington Arts.. Caribbean day 1 (Paddington Centrall,- Caribbean day 2 (Maida Hill Market) Artwall Steve was commissioned to produce an A-Z of Camival public art exhibition on the wall in Fernhead Road. Steve has chosen 24 photos which will be made into acrylic panels by Coloursonic and mounted on the wall. The exhibition will be in place for knfo years. Barrie Taylor. a long-time friend, supporter and trustee of Paddington Arts, died in February 2024. He gave much to the community and will be missed by.many. Building Development: Paddir)glon Art5 Trustees are committed to supporting the building of an extsnsion to our building, creating Ground Floor- caféjreception which will have a small creativellive event space First Floor- new rehearsalldance studio and three officeslconsultation rooms Second floor- Creative Entcrprise Hub comprising of 8 modular units and 35 desk spaces for PA Youth Media Training and Business Support programme, and SMEslCreative Entrepreneurs to hire. Roof Garden The'project is a practical response to the challenges and opportunities that lie ahead with respect to: Safeguarding our operational position through building financial stsbility. Ensuring our creative offer meets the growing need5 of lo¢al young people and communities, Capitalising on the economic growth taking place in Westminster so that our young people and communities feel part of it. Planning Permission has been granted and RIBA Stage 3 has now been completed. The next phase is to finalise the technical drawings and sign off the designs- known as RIBA Stage 4, and then to move lo tender. Fundraising towards our current target of £3.2m will continue. . Future Developments In addition to the Buildir)g.Development, we will continue the activities established in the year under review: Arts in Schoo5s.' Emotional Support Programme- Carniwal. Reserves Policy Paddington Arts has a Reserves Policy. of which the main points a as follows.. Paddiftgton Arts rÈgards it prudent to build up reserves= cover for any cash flow difficulties due to late payment of grants or invoices. or grants paid in arrears
PADDtNGTON ARTS provide an emergency fund in the event of a financial crisis or closure provide funds to maintain the building in good rapair and carry out planned or emergency renovatiorjs, renewals and additions provide a fund for equipment replacement or rènewal provide a fund to contribLtte towards projects that C2n't be funded otheNise The present level of resetves is adequate to support the continuation of the company's activities for up to six months. and the directors consider thé financial position of the charity to be satisfactory. Risk management The Trustees have assessed the major risks to which the company is exposed, in parb¢ular those related to the operations and finances of the company and are satisf18d that systems are in place to midgate our exposure to the tnajor risks. Trustees Responsibilities Company law requires the directors to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period_ In preparing those financi21 ststements, the dirertors are r&quir8d to.. Select suitable acttounting policies and ther5 apply them consistently., Make judgement and estimates that are re2sonable and pnJdent' Follow applicable accounting stsndards. subject to sny m8terial departures disclosed and explained in the financial statemenls. Prepare the financi31 stslements on the going concern basis ur)less il is inappropriate to presume that the company will continue in business_ The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial ststements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities_ Results The results for the year are summarised on page 9 and set out in detsil on pages 16 to 18. Flxed Assets Changes in fixed assets are set out in note six to the financial statements. Accountants The accountants. Henderson & Co., will be proposed ft)r reappointment in aGwrdance with the provisions of the Companies Act 2006.
PADDINGTON ARTS Taxation Status Charitable 8xemption under Section 505 of the 1988 Income and Corporation Taxes Act has been received. This report, which has been prepared tsking advantage of special exemptions applicable to small companies. was approved by the board on 23 October 2024 and signed on their behalf. Leandra Box Secretary Date
PADDtNGTON ARTS ndependent exuminer's report on the ttecounts Independent Eyaminer's Report. Report to the trusteesldire¢tor%l m¢mbers of PADDINGTON ART.$ OrA accounts for the year ended 31 March ?024 Charity no.- 298879 Company no.: ?224403 Set ollt on pages 9t015 Respective respollsibilities of trustees and exAminer The trustees (who 3Je also the direttors of the cctrnpany for the PUTposes of company law) ar¢ responsible foi the preparation of the aeeounts in accordance with the requirements of thc Companies Act 2006. The charity's trustees congider that an audxt is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is tteeded. lThe charity's gross income exceeded 50,000 and l am qualified to undertake the examination by being a qualified member of ICAEW. It is My responsibility to: examine the accounts under section 145 of the Charities A¢ to follow the procedures laid down in the general Directions given by the Ch2rity Cotnmission (under sectiort 145{5)(b) of the Charities A¢L and to state whether particular matters hav¢ come to my attention. B#$is of ldePendent My exa]nination was wried out in accordance with general Directions given by the examiner's ststement Charity Commission. AD exaTnination in¢lud¢s a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual iterns or d?sclosvres in the accounts, and seeking explanations from the trustees concerning any such matters. The proc¢durts undertaken do not provide all the evidence that would be required in an audil Snd consequently no opinion Es given as to whether the accounts present a 'true and fair, view and the report is limited to those rnatters Stt out in the statement below.
PADDINGTON ARTS Independent exan]in¢r's ststement In conne¢tion with my ¢xamination, no matter come to my attention to indicate thaL" accounting records have not been kept in accordance with section 3 86 of the Companies Act 2006- the accounts do not accord with such records.. where accounrs are prepared on an ac¢ruals basis. whether they fail to comply with relevant accounting requirements under section 396 of the Cotnpanies Act ?006, or Zre not Consistent wsth the Charities SORP (FRSI 02) any matter which the examiner believes should be drawn to the attention of the reader to gain a proper understanding of the accounts. Signed- Date: 14 November2024 N#m¢: Mr. Kiran Shah for and on behalf of Henderson & Co. ReleVat professiollal qualific&tion(s) or body ACA Address: 87 Devonshire Road Palmers Green. London N13 4QU Section B Disclosure Only complete if the examAner needs to highlight tnatÈri21 problems (E.g. Accountincl records have not been kept in accordance with section 386 of the Companies Act 2006- the accounts do not Accord with the a¢counting record5- any material expenditurc or action whi¢h appears not to be in A¢cordan¢e with th¢ trusts of th¢ charity; any failure to be provided with information and explanation by any past or present trusiee. officer or employee: and in the case of accruals acctsunts any Traterial inconsistency between the accounts and the trust¢es' annual report, and in the case of a charitable cotnp8ny with the director's report Give here brief details of any items that the examintr wishes to disclose None
PADDtNGTON ARTS Statement of F3h#ncial Actiwities For the y¢ir ended 31 March 2024 IReome Note Unrestricted unds Restricted Funds Restricted Fund5 Totr41 Funds Totsl FuDds New Buildi]J 2024 2024 2024 2024 2023 GraNt5 and donations Sales and rental income Interest receivable GiftAid Tot81 Income 94,615 120,840 5,912 124,548 2.wo 219,163 122,840 206,525 158.279 2,843 664 368 511 224 671 351219 eoditure Pro rdmmes and Staff Costs Travcl c(>sts Accomrnodation costs Adtniiiistrdtion ex enses De reciation Total Ex enditsre 137396 851 69,634 12,854 91,864 150 7,736 229,260 1,001 77,370 12,854 241,486 90,464 14,370 224 262 126543 350 805 379 037 SllrpIus l (Defi¢it) For Ibe ear 409 414 -10,526 Reserves l Building Fund Brou ht Foard 125 461 1083 762 1209 223 1219749 Grants for the N¢w Buildin 108,000 108,000 Restryts l Building Fund Carried Forward 125 870 1083 767 108000 1317637 1209 223 Without de reciation Surplus For the year 734 21 The cornpany has no reco8ni5ed gains or1055¢S Other than the surplus or deficit for the above two ffftancial years. All incotning iTkcome and expenditure derive from continuing actAVIti¢s. The notes on Pag I I to 15 fortn part of these finaneial ststements.
PADDINGTON ARTS Ba12nte Sheet 31 March 2024 Note 2024 20x3 Fixed Assets 963,321 879.872 Current As$ets Cash at b3nk Debtor5 410,634 459,143 494,372 474,472 Current Liabiliti Crcditors 140 056 145 121 Net Assets Funds of the Chari Unrestricted Reserves Restricted Reserves Restricted Funds- New BuildÈn Fund 125 870 1,083,767 108000 125,461 1,083,762 For the year ending 31 March 2024, the company was entitled to exemption from audit under section 477 of the Cornpanies Act 2006 re12ting to stn211 companies. The members have not required the company to obtain an audit in accordance with se¢tion 476 of the Companies Act 2006. The directorg aeknowled(Te their responsibilities for complying with the requirements ofth¢ Companies A¢t with respe¢t to iccouttting records and thts prepantion of accounts. These accounts have been prepared in accordance with the piovisions appli¢able to small ¢otnpanies' subject to the small companies. regime and in accordance with FRS102 SORP. The financial staternents wtre approved by the board on 23th Ottober2024 and signed on its behalf. Director- -A.Ha Treasurer-__ A. Luarus 10
PADDtNGTON ARTS The notes on pages I I to I S forni part of these financial statements. Notes to the Fingk)ciAI Statements For the year ended 31 M2r¢h 2024 Accountin Policies (a) Basis of Preparation These accounts have been prepared under the histori¢al c05t convention with iteuis recognised at Cost or transaction value unless otherwise stated in the rttlevant note(s} to these aC¢OUTLts. The accounts have been prepared in accordanctt with= the Statement of Rpxommended Practice-. Accounting and Reportin8 by Charities preparing their accounts in accordance with the Finoncial Reporting Standard applicable in the UK and Republi¢ of Ireland IFRS 102) iysued on 16 July 2014. the Financial Reporting Standard applieable in the United Kingdom and Republic of Irelxnd {FRS 102). and with Charities Act 2011 The charity constitLrtes a publi¢ benefit entity as defined by FRS102 (b) In¢ome #nd expenditure Grants and similar income are accounted for on an accrual's basis. Other sources of income received on a less reglllar basis are credited to the income and expenditure account when Teceived_ Expendire includes stems, whiGh hav¢ been paid, 2s well as those costs inelled but not paid at the balance sheet date. (¢) Fixed assets and depreeiation Depreciation is calwlated to write down the ctsst ocall fixed assets to their estimatrd resadual values by equal annual inst2lm¢nts over the period of their estimated use1 lives, which are COldered to be four years. Building ts being depreciated at 2/0 per annum. (d) Gr8nts and donations relating to fixed 2s$ets Grants and donations. which have been provided spccifically for the purchase of fixed assets, are credited to revenue in the year of receipt. Fsxed LSSCts donated are capitslised in the ba1ce sheet and included as grants and donations in the revenue account. Grauts and donatÈon5 T¢latiug to Building Fund Grants and donations given spccifically for the land 2nd foi the improVeent and extension to the tsxisting buildin8 are included in th¢ r¢stricted reserves in the Ba]ance Sheet. Income The Charity's in¢ome consists mainly of grants from trusts and foundations plus self- generatec( income from the hiring out of premises, equipment aud other aotivities. Tax2tion The Charity has received exemption under Section 505 of the Income and Corpordtion Taxè5 A.ct 1988. No provisitsn for Corporation Tax has ac¢ordinglybeen provided in these fihancial stattments. ees The avcrage number employed by the Charity, excluding directors, Wa5 eight (2023 - seven)- There are 3 fv11 5txff. 4-part time stsff, and a nurnber of freelance tutors paid via the payroll. The costs incurred in respect of these employees, excluding iutors were-
PADDINGTON ARTS Notes to the FiDan¢ial Statements (Contd.) For the year ended 31 Marth 2024 lo ees 2024 2023 Wages and salaries Employer's NIC Employers Pension Contribution 145.277 8.115 139 883 7,151 4.186 The Employee5 ¢OSts have increased by 80/0. Costs include the employment of an Emotional support worker to assist children having mental difficulties incre2sed. Notes on Ex enditure There was a reduction on expenditure on differeTLt projects in the year as compared to 2023. These Costs exclude the costs included in tutor f¢es. and workshop expenses 5b The costs include £8.025 for the lighting in the building and £4.363 for repairs to th¢ lifts. 12
PADDINGTON ARTS Notes to the Financial Statements (Coffttd.) For tht year ended 31 March 2024 Fixed Assets Land & Buildin New Buildin Develo ment Worksho ui Officc Total Main New Room Cost- l April 2023 Brought forward Additions 1,248,496 181,125 51,498 110 573 164,972 S3,768 1,699,859 113,769 1 248 496 181 125 162 071 168 168 1 813 628 Depreci3tion~ l April 2023 Brought fonvard Charged in the year 561,533 45,730 163,442 49,282 819,987 584 703 850 307 Net book valut 31 M3rch 2024 16 31 M2rth 2023 The rnarktt value of land and buildings is Considered to be around £5 million. No adjustments have been made to the fixed assets note. and the revaluation reserve. Debtors - due within one ear Unrestricted Funds Restricted Funds Total 2024 Total 2023 Rental & Other Incom¢ Prepayfftents Due from HMRC Other Debtor5 75,469 5.671 1,938 660 75.469 5,671 1,938 660 7.631 681 7,017 13
PADDtNGTON ARTS Notes to the Financial Ststememts (Contd.) For the yegr ended 31 Mareh 2024 Creditors- due withln one ear Unrestricted Funds Restricted Fullds Total 2024 Total 2023 Deferred incom¢ Tradt Creditors AIDounts due to HMRC Acctuals see below) 81,875 11,132 4.101 24.797 106,672 11.132 4,101 114,491 9,656 5,723 115 259 140 056 145 121 Crtditors- due withill one year (Contd.) Unrestricted Funds Restricted Funds Total 2024 Tot21 Deferred income Cheyne (Taxi House Limited) John L ons WestFlliThSter Ci Council.. Health Commllnitie5 Fund Young W&8tminster FouThdation W¢stminster Foundation- Grosvenor of Westrninster Becs and Plants Suiptotal Offjce rentsl. ratts ete. Total 75.000 75,000 75,000 5,110 18,250 7,593 4.064 8.437 4,515 451 10,000 6,570 81,405 470 24.797 106202 470 106 672 108,570 5,921 114491 The above sub-total amount is as per the detailed incom¢ statement showing £106202 as the defeed Income e2rried fonvard to 202412025. 14
PADDINGTON AIiTS Notes to the Financial Statements (Contd.) For the year ended 31 Mareh 2024 9 Re5trve5 Unrestricted Restritted Restre 20Z4 2023 ReseeS ReservL* Rt$erves Tot81 Total New Building B-&te 01 April 2023 surp11 I ID¢fi¢iti for th¢ y¢aT Grants foi. theNew Building Balance at 31 MaY¢h 2024 125.461 409 1.083,762 1.209,223 1219.749 414 -10.526 iosooo 108 000 10 Commitments on Reserves For the continued development of the orgaThisation, the M2tta8ement Committee h¥ allocated the reserve5 to the following gpecific needs.. Buildin Rerve Equipment Repla¢em¢nt Reserve Specific Organisation Reserve £90.640 £15,000 £50,000 Crisis Reserve SpBcific Prtsject Reserv¢ £25,000 £1 0,000 11 Com an ststus The Charity is non-profit making Company Limited by GUarane and without share ¢apÉtal. 12 Trustees, Ex enses No expenses were paid to Trustees. 15
PADDINGTON ARTS Detsiled Expenditure Aceount For the yezr ended 31 Mareh 2024 Ex etEditure Note . Unrestricted Funds Restrieted Total Funds Total Fund8 Funds 2024 2023 Programmes and Stsff costs Staff costs Fees paid tts tutors Workshop expenses Project Costs l Note 131 Publicity Training 102.217 6,457 1,128 21,485 5,417 692 53,943 7,891 1.379 26,260 2,314 77 156,160 14,348 2.507 47,745 7.731 769 229,260 144,220 15,491 4.920 67,733 7,028 137,396 91.864 241,486 Accomtnodatloffi and reDt Lighu heat & Water R*te$ Ratss Telephone nsurance Cleaning & Caretakers Repairs and renewals 18.667 2,074 20,741 20,759 6.756 1.930 5,459 30.371 18 1,888 5,206 25,835 210 578 2,870 2.098 5.784 28,705 5b 69.634 7.736 77,370 90,464 Travel and meetings 851 150 I,ooi 803 Adminsstration Postage and ststionery Bank charges Pttrfessional fees Accountants Remuneration General expenses Affiliation fees Equiprnent Repairs compu & Website maintenance 1,039 401 4,442 4,5CIO 302 1,039 401 880 369 4,442 4,500 302 1,361 19Q 614 138 4,931 435 1,454 293 1,140 1,361 19Q 614 Bad Debts 12,854 12.854 14,370 DepreciatRon Total expenditure 224 262 350 805 379 037 16
PADDINGTON ARTS Detailed Income Statement For the year ended 31 March 2024 Grants and Donations Unrestrreted RÈstricted Total Funds Total Funds Funds FuDds 2024 2023 Cheyne (Taxl House Limited) John Lyon5 Deferred fund brought forward Lottery- Reaching Communities London Community Foundation One Westminster Young Westminster Foundation Wèstminster City Council- Community Priorities Programme Healthy Communities Fund City of Westminster grant Inside Out grant Summer 2023 project Art Wall Ward Budget Nèw years day parade PRU Mentoring London Youth l B(trbery Art Oevelopment Rose Foundation Jack Petchey Westminster Ftsundation- Grosvenor 75,000 8,300 84,171 75.000 41.500. 108,570 75.000 67,000 47,365 21,293 9,690 10,DOO 33.2QO 24,399 903 8,127 9,030 1,850 1,687 16,S50 IS,188 18,500 16,875 19.710 1,952 1,392 17,568 12,528 8,000 6.885 19.520 13,920 8.000 7,650 765 8.000 4,667 500 2,110 7,5C>O 2.800 io,ooo 8,595 io,ooo 2,865 4,000 3.000 5.000 1.800 5,000 1,800 Young Weslrninster FoundaliorthAF Young We5tminsreT Foundatyon-The London Community Young Wesrminster ndation Wèstminster Amalgamated Charity Bees and Plants LNYDP SeÈd Money 176.020 149.345 325.365 106 202 219,163 315,095 108 570 206,525 Less deferred to 202412025 94,615 124,548 Self-generated Income Office Rerltsl 48.031 48.031 63.520 Hire of equipment Lettings Fees and sales Sponsorship.& Donations MembersFiip fees 2,676 64,006 1,628 4,019 480 120,840 2,676 64,006 1,628 6.019 480 122,840 1.745 78,496 5.136 8,662 720 158,279 2,000 2.000 17
PADDINGTON ARTS Detailed Ineome Statement (Ctkntd) For th¢ year ended 31 March 2024 Gr2nts and Donations Unrestrictcd Restricted Total Funds Total FuJJds Funds Funds 2024 2023 other Receipts Gift Ald Bank interest receivable sub-total other receipts 3.304 3,304 864 Total Income 224 671 126 548 351219 368 511