| Page | |||
|---|---|---|---|
| Chairman's Report |
|||
| Report ofthe Trustees | 2 to | 10 | |
| Report ofthe Independent | Auditors | 11 to | 13 |
| Statement ofFinancial Activities | 14 | ||
| Statement ofFinancial Position | 15 to | 16 | |
| Statement ofCash Flows | 17 | ||
| Notes to the Statement of | Cash Flows | ||
| Notes to the Financial Statements | 19 to | 33 |
| 31.3.21 | 31.3.20 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| funds | funds | funds | funds | |||
| Notes | ||||||
| INCOME AND ENDOWMENTS FROM | ||||||
| Donations and legacies |
2 | 54,393 | 38,789 | 93,182 | 43,093 | |
| Charitable activities |
||||||
| Income from Charitable | Activities | 228,903 | 1,396,375 | 1,625,278 | 1,323,972 | |
| Investment income |
3 | 1,513 | 1,513 | 729 | ||
| Other income | 5 | 27,310 | 11,481 | 38,791 | ||
| Total | 312,119 | 1,446,645 | 1,758,764 | 1,367,794 | ||
| EXPENDITURE ON | ||||||
| Charitable activities |
||||||
| Operation ofcommunity | and arts centres | 320,963 | 196,420 | 517,383 | 561,476 | |
| NET INCOME/(EXPENDITURE) | (8,844) | 1,250,225 | 1,241)381 | 806,318 | ||
| Transfers between funds |
18 | 109,207 | (109,207) | |||
| Net movemeut in funds |
100,363 | 1,141,018 | 1,241,381 | 806,318 | ||
| RECONCILIATION | OF FUNDS | |||||
| Total funds brought forward | 264,760 | 1,682,369 | 1,947,129 | 1,140,811 | ||
| TOTAL FUNDS CARRIED FORWARD | 365,123 | 2,823,387 | 3,188,510 | 1,947,129 |
| STATEMEN | T OF FINANCIAL 31MARCH 2021 |
POSITION | |
|---|---|---|---|
| 31.3.21 | 31.3.20 | ||
| Notes | |||
| FIXEDASSETS | |||
| Tangible assets | 12 | 3,102,222 | 1,446,853 |
| CURRENT ASSETS | |||
| Debtors | 13 | 18,810 | 110,413 |
| Cash at bank | 344,788 | 659,232 | |
| 363,598 | 769,645 | ||
| CREDITORS | |||
| Amounts falling due within one year |
14 | (91,438) | (94,350) |
| NET CURRENT ASSETS | 272,160 | 675,295 | |
| TOTAL ASSETSLESSCURRENT | |||
| LIABILITIES | 3,374,382 | 2,122,148 | |
| CREDITORS | |||
| Amounts falling due after more than one |
|||
| year | 15 | (185,872) | (175,019) |
| NET ASSETS | 3,188,510 | 1,947,129 | |
| FUNDS | 18 | ||
| Unrestricted funds |
365,123 | 264,760 | |
| Restricted funds | 2,823,387 | 1,682,369 | |
| TOTAL FUNDS | 3,188,510 | 1,947,129 |
| FOR THE YEAR END | ED 31MARCH 2021 | ||||
|---|---|---|---|---|---|
| 31.3.21 | 31.3.20 | ||||
| Notes | |||||
| Cash flows from | operating | activities | |||
| Cash generated from operations I |
1,350,366 | 829,503 | |||
| Net cash provided | by operating activities |
1,350,366 | 829,503 | ||
| Cash flows from | investing | activities | |||
| Purchase oftangible fixed | assets | (1,666)323) | (337,045) | ||
| Interest received | 1,513 | 729 | |||
| Net cash used in | investing | activities | (1,664,810) | (336,316) | |
| Change in cash and cash | equivalents | ||||
| in the reporting | period | (314,444) | 493,187 | ||
| Cash and cash equivalents | at the | ||||
| beginning ofthe | reporting | period | 659,232 | 166,045 | |
| Cash and cash equivalents | at the end | ||||
| ofthe reporting | period | 344,7$$ | 659,232 |
| 31.3.21 | 31/L20 | ||||
|---|---|---|---|---|---|
| f | |||||
| Net income | for the | reporting | period (as per the Statement of | ||
| Financial Activities) | 1,241,381 | 806,318 | |||
| Adjustments | for: | ||||
| Depreciation | charges | 10,954 | 10,954 | ||
| Interest received | (1,513) | (729) | |||
| Other | 1 | (l) | |||
| Decrease in | debtors | 91,603 | 10,864 | ||
| Increase in creditors | 7&940 | 2,097 | |||
| Net cash provided | by operations | 1&350,366 | 829,503 |
| At i/4/20 | Cash flow | At 31/3/21 | ||
|---|---|---|---|---|
| Net cash | ||||
| Cash at bank | 659,232 | (314,444) | 344,788 | |
| 659,232 | (314,444) | 344&788 | ||
| Debt | ||||
| Debts falling due within | 1 year | (22,450) | (27,550) | (50,000) |
| Debts falling due after l | year | (175,019) | (10,853) | (185,872) |
| (197,469) | (38,403) | (235,872) | ||
| Total | 461,763 | (352,847) | 108,916 |
| 2. | DONATIONS AND LEGACIES |
|||||
| 31.3.21 | 31.3.20 | |||||
| Donations | 93,182 | 41,724 | ||||
| Gift aid | 1,369 | |||||
| 93,182 | 43,093 | |||||
| 3. | INVESTMENT INCOME | |||||
| 31.3.21 | 31.3.20 | |||||
| Deposit account interest | 1,513 | 729 | ||||
| INCOME FROM CHARITA.BLEACTIVITIES | ||||||
| Unrestricted | Restricted | Total Funds | Total Funds | |||
| Funds | Funds | 31.3.21 | 31.3.20 | |||
| London Borough of | Camden | 41,700 | 105,650 | 147,350 | 608,083 | |
| GLA: Good Growth | Fund | 145,990 | 145,990 | 150,654 | ||
| Grants from trusts and foundations | ||||||
| (SeeNote 21) | 85,730 | 1,143,569 | 1,229,299 | 379,556 | ||
| Users' Contributions | and fees | |||||
| -Classes and activities | 30,743 | 30,743 | 86,373 | |||
| -Events and Fairs | 1,010 | |||||
| -Personal budgets (facilitated | by | |||||
| London | ||||||
| Borough ofCamden) | 70,045 | 70,045 | 84,965 | |||
| Hire offacilities | 685 | 685 | 13,331 | |||
| Other Public funds | 1,166 | 1,166 | ||||
| 228,903 | 1,396,375 | 1,625,278 | 1,323,972 |
| ANALYSIS OFEXPEN | DITURE ON CH | ARITABL | E ACTIVITIES | ||
|---|---|---|---|---|---|
| Outreach | Children | OlderPeople | Tota12021 | Total2020 | |
| &Engagement | &Young | ||||
| People | |||||
| Promotion and publicity |
208 | ||||
| Class and activity costs | 9,325 | 4,786 | 14,111 | 22,822 | |
| Staffing (Employees) | 101,424 | 167,780 | 269,204 | 251,903 | |
| Staffing | |||||
| (Miscellaneous) | 24,112 | 1,231 | 25,342 | 43,417 | |
| Premises | 2,245 | 5,611 | 7,856 | 19,660 | |
| Direct Administration | |||||
| costs | 3,187 | 2,682 | 5,869 | 6,938 | |
| Fixtures and Equipment | 58 | 188 | 246 | 1,104 | |
| 140,351 | 182,278 | 322,629 | 346,051 | ||
| Support Costs (Note 7) | 19,115 | 124,250 | 47,788 | 191,154 | 210,801 |
| Governance Costs |
360 | 2,340 | 900 | 3,600 | 4,624 |
| Total Expenditure | 19,475 | 266,940 | 230,967 | 517,383 | 561,476 |
| ANALY | SIS OF SUP | PORT AND GOVERNANCE COST |
S | |
|---|---|---|---|---|
| 31.3.21 | 31.3.20 | |||
| Support | Costs | |||
| Promotion and publicity |
(522) | 510 | ||
| Activity | Costs | 174 | ||
| Staffing | (Employees) | 135,884 | 158,914 | |
| Staffing | (Miscellaneous) | 9,640 | 2,493 | |
| Premises | 26,328 | 32,887 | ||
| Direct Administration | Costs | 18,870 | 15,744 | |
| Fixtures | and Equipment | 954 | 78 | |
| 191,154 | 210,801 | |||
| 31.3.21 | 31.3.20 | |||
| f | f | |||
| Governance Costs: |
||||
| Annual | Review/ AGM | 474 | ||
| Auditors | Remuneration | 3,100 | 3,650 | |
| Auditors | Remuneration | -Non Audit Services | 500 | 500 |
| 3,600 | 4,624 |
| 31.3.21 | 31.3.20 | |||
|---|---|---|---|---|
| Auditors' | remuneration | 3,600 | 4,150 | |
| Depreciation | - owned assets | 10,954 | 10,953 |
| STAF | F COSTS | ||
|---|---|---|---|
| 31.3.21 | 31.3.20 | ||
| Wages | and salaries | 373,456 | 364,222 |
| Social | security costs | 24,198 | 23,595 |
| Other | pension costs | 7,435 | 23,000 |
| 405,089 | 410,817 |
| 31.3.2021 | 31.3.2020 | |||
|---|---|---|---|---|
| Self-employed | tutors | 23,761 | 40,139 | |
| Miscellaneous | associated | costs | 11,222 | 5,771 |
| 34,983 | 45,911 |
| employment benefits ofthe K |
ey Management Person |
nel were $5l,493 (20 |
20:f50,212) | |
|---|---|---|---|---|
| Volunteers and Placements |
in the year | |||
| 31.3.21 | 31.3.20 | |||
| Number ofvolunteers | 64 | 193 | ||
| Placements: College Students |
and Work Experience | |||
| COMPARATIVES FORTHE STATEMENT OF | FINANCIAL ACTIVITIES 31.3.2020 | |||
| Unrestricted | Restricted | Total | ||
| funds | funds | funds | ||
| INCOME AND ENDOWMENTS FROM | ||||
| Donations and legacies |
26,528 | 16,565 | 43,093 | |
| Charitable activities |
||||
| Income from Charitable Activities |
310,699 | 1,013,273 | 1,323,972 | |
| Investment income |
729 | 729 | ||
| Total | 337,956 | 1,029,838 | 1,367,794 | |
| EXPENDITURE ON | ||||
| Charitable activities |
||||
| Operation ofcommunity and arts cennes |
398,411 | 163,065 | 561,476 | |
| NET INCOME/(EXPENDITURE) | (60,455) | 866,773 | 806,318 | |
| Transfers between funds |
100,000 | (100,000) | ||
| Net movement in funds |
39,545 | 766,773 | 806,318 | |
| RECONCILIATION OF FUNDS |
||||
| Total funds brought forward |
225,215 | 915,596 | 1,140,811 | |
| TOTAL FUNDS CARRIED | ||||
| FORWARD | 264,760 | 1,682,369 | 1,947,129 |
| 12. | TANGIBLE | FIXEDASSETS | ||||
|---|---|---|---|---|---|---|
| Leasehold | Ongoing | |||||
| Land and | Redevelopment | Computer | ||||
| Buildings | Costs | equipment | Totals | |||
| 5 | ||||||
| COST | ||||||
| At 1 April 2020 | 517,010 | 1,004,730 | 5,746 | 1,527,486 | ||
| Additions | 1,666,323 | 1,666,323 | ||||
| At 31 March | 2021 | 517,010 | 2,671,053 | 5,746 | 3,193,809 | |
| DEPRECIATION | ||||||
| At 1 April 2020 |
78,704 | 1)929 | 80,633 | |||
| Charge for year | 10,000 | 954 | 10,954 | |||
| At 31 March | 2021 | 88,704 | 2,883 | 91,587 | ||
| NET BOOK | VALUE | |||||
| At 31March | 2021 | 428406 | 2,671,053 | 2,863 | 3,102,222 | |
| At 31 March | 2020 | 438,306 | 1,004,730 | 3,817 | 1,446,853 | |
| 13. | DEBTORS: | AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 31.3.21 | 31.3.20 | |||||
| f. | ||||||
| Trade debtors | 18)016 | 93,872 | ||||
| Prepayments | and accrued income | 794 | 16,541 | |||
| 18,810 | 110,413 |
| 14. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE | YEAR | |
|---|---|---|---|
| 31.3.21 | 31.3.20 | ||
| Bank loans and overdratts (see note 16) |
50)000 | 22,450 | |
| Trade creditors | 32,500 | 64,079 | |
| Accrued expenses | 8,938 | 7,821 | |
| 91,438 | 94,350 | ||
| 15. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE | THAN ONE YEAR | |
| 31.3.21 | 31.3.20 | ||
| Bank loans (see note 16) | 185,872 | 175,019 | |
| 16. | LOANS | ||
| An analysis ofthe maturity ofloans is given below: | |||
| 31.3.21 | 31.3.20 | ||
| Amounts falling due within one year on demand: |
|||
| Bank loans | 50,000 | 22,450 | |
| Amounts falling due between two and five years: |
|||
| Bank loans - 2-5 years | 112,250 | 112,250 | |
| Amounts falling due in more than five years: |
|||
| Repayable by instalments: |
|||
| Bank loans more 5 yr by instal | 73,622 | 62,769 | |
| This bank loan is for aperiod of 15years. |
| 17. | ANALYSIS | OFNET ASSETS | BETWEEN FUNDS | |||
|---|---|---|---|---|---|---|
| 31.3.21 | 31.3.20 | |||||
| Unrestricted | Restricted | Total | Total | |||
| funds | funds | funds | funds | |||
| Fixed assets | 431,169 | 2,671,053 | 3,102,222 | 1,446,853 | ||
| Current assets | 211,264 | 152i334 | 363,598 | 769,645 | ||
| Current liabilities |
(91,438) | (91,438) | (94,350) | |||
| Long term liabilities | (185,872) | (185,872) | (175,019) | |||
| 365,123 | 2,823,387 | 3,188,510 | 1,947,129 | |||
| 18. | MOVEMENT IN FUNDS | |||||
| Net | Transfers | |||||
| movement | between | At | ||||
| At I/4/20 | in funds | funds | 31/3/21 | |||
| Unrestricted | funds | |||||
| General fund | 264,760 | (8,844) | 109,207 | 365,123 | ||
| Restricted funds | ||||||
| Restricted | 98,454 | 1,250,225 | (109,207) | 1,239,472 | ||
| Restricted Fixed Asset Funds | 1,583,915 | 1,583,915 | ||||
| 1,682,369 | 1,250,225 | (109,207) | 2,823,387 | |||
| TOTAL FUNDS | 1,947,129 | 1,241,381 | 3,188,510 | |||
| Net movement | in funds, included | in the above are as fogows: | ||||
| Incoming | Resources | Movement | ||||
| resources | expended | in funds | ||||
| Unrestricted | funds | |||||
| General fund | 312,119 | (320,963) | (8,844) | |||
| Restricted funds | ||||||
| Restricted | 1,446,645 | (196,420) | 1,250,225 | |||
| TOTAL FUNDS | 1,758,764 | (517,383) | 1,241,381 |
| Net | Transfers | ||||
|---|---|---|---|---|---|
| movement | between | At | |||
| At I/4/19 | in funds | funds | 31/3/20 | ||
| Unrestricted | fuuds | ||||
| General fund | 225,215 | (60,455) | 100,000 | 264,760 | |
| Restricted funds | |||||
| Restricted | 86,662 | 866,773 | (854,980) | 98,455 | |
| Restricted Fixed Asset Funds | 828,934 | 754,980 | 1,583,914 | ||
| 915,596 | 866,773 | (100,000) | 1,682,369 | ||
| TOTALFUNDS | 1,140,811 | 806,318 | 1,947,129 |
| Incoming | Resources | Movement | ||
|---|---|---|---|---|
| resources | expended | in funds | ||
| 8 | ||||
| Unrestricted | funds | |||
| General fund | 337,956 | (398,411) | (60,455) | |
| Restricted funds | ||||
| Restricted | 1,029,838 | (163,065) | 866,773 | |
| TOTAL FUNDS | 1,367,794 | (561,476) | 806,318 |
| Balance | Incoming | Resources | Balance | |
|---|---|---|---|---|
| 1Apr 2020 | Resources | Expended | 31Mar 2021 | |
| 8 | ||||
| a) London Borough Camden | 771,326 | 771,326 | ||
| b) GLA | 419,012 | 145,990 | 565,002 | |
| c) Bedford House Redevelopment | 393,577 | 1,016,989 | (10,000) | 1,400,566 |
| d) Enterprise &Potential | 20,000 | (20,000) | ||
| e) Volunteering &Outreach Projects |
1,000 | 1,000 | ||
| f) Gymnasium | 1,965 | (223) | 1,742 | |
| g) Under fives &Play Scheme | 7,089 | 26,481 | (19,989) | 13,581 |
| h) Older People's projects | 44,474 | 37,659 | (58,521) | 23,612 |
| i) Arts & Media Projects | 34,719 | 99,526 | (87,687) | 46,559 |
| j) LB Camden Strategic Partnership | ||||
| Fund | 100,000 | (100,000) | ||
| k) Funds Transfer | 9,207 | -9207 | ||
| Total Restricted Funds | 1,682,369 | 1,437,438 | (296,420) | 2,823,387 |
| 31.3.21 | 31.3.20 |
|---|---|
| 437,000 | 2,103,323 |
| Total | ||||||
|---|---|---|---|---|---|---|
| Grants from trusts | and foundations | Unrestricted | Restricted | Total Funds | Funds | |
| Funds | Funds | 31.3.21 | 31.3.20 | |||
| 8 | g | |||||
| 3 Verulam Buildings | Trust | 20,000 | 20,000 | 20,000 | ||
| Ageing Better Camden | 8,000 | 8,000 | 10,000 | |||
| BBCChildren in Need |
10,334 | 10,334 | 20,357 | |||
| Beatrice Laing Trust | 25,000 | |||||
| City Bridge Trust | 72646 | 72,646 | ||||
| Dane Chantala Associates | 3,000 | 3,000 | ||||
| Groundwork UK |
71,155 | 71,155 | ||||
| Hargrave Foundation |
200,000 | 200,000 | ||||
| Independent Age |
14,374 | 14,374 | ||||
| John Lyon's Charity | 25,000 | 25,000 | 12,500 | |||
| London Marathon Charitable |
Trust | 146,000 | 146,000 | |||
| Masonic Charitable | Foundation | 2,868 | 22,885- | 25,753 | 25,870 | |
| Miscellaneous | 22,639 | 45,826 | 68,465 | 35,829 | ||
| Mischon de Reya | 5,000 | |||||
| Prism | 4,350 | 4,350 | ||||
| Power to Change | 17,723 | 17,723 | 180,000 | |||
| Sport England | 484,999 | 484,999 | ||||
| StAndrew Holborn |
Charity | 22,500 | 20,000 | 42,500 | 30,000 | |
| William Shelton Educational | Charity | 15,000 | 15,000 | 15,000 | ||
| 85,730 | 1,143,569 | 1,229,299 | 379,556 |