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|||||Page||
|---|---|---|---|---|---|
|Reference and administrative||details||||
|Report ofthe trustees|||2|to|4|
|Independent
examiner's
report||||||
|Statement offinancial|activities|||||
|Statement offinancial|position||7|to|8|
|Statement ofcash flows||||||
|Notes to the statement|ofcash|flows||10||
|Notes to the financial|statements||11|to|18|
|Detailed statement of|financial|activities|19|to|20|
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||||||||||2023||2022|
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||Unrestricted|Restricted||Total||Total|
|||||||fund||fund|funds||funds|
||||||Notes|8|||8|||
|INCOME|AND ENDOWMENTS|||FROM||||||||
|Donations|and legacies|||||78,451|||78,451||69,137|
|Charitable|activities|||||||||||
|Charitable|Activities|||||||268,121|268,121||414,292|
|Investment|income|||||20|||20|||
|Total||||||78,471||268,121|346,592||483,433|
|EXPENDITURE ON||||||||||||
|Charitable|activities|||||||||||
|Charitable|Activities|||||38 806||268121|306.927||313,367|
|NKT INCOME||||||39,665|||39,665||170,066|
|RECONCILIATION|||OFFUNDS|||||||||
|Total funds|brought|forward||||(42,541)|1,783,037||1,740,496|1,570,430||
|TOTAL FUNDS CARRIED FORWARD||||||~2,876)|I|703.037|1,700 161|I|7411496|
##
|STATEME|NT OF FINANCIAL P
31STMARCH 2023|OSITION||
|---|---|---|---|
|||2023|2022|
||Notes|||
|FIXEDASSETS||||
|Tangible assets||1,803,258|1,808,115|
|CURRENT ASSETS||||
|Debtors|12|17,907|22,670|
|Cash at bank and in hand||66,176|41 325|
|||84,083|63,995|
|CREDITORS||||
|Amounts
falling due within one year|13|(3,180)|(4,614)|
|NKT CURRENT ASSETS||~80903|59,381|
|TOTAL ASSETSLESSCURRENT||||
|LIABILITIES||1,884,161|1,867,496|
|CREDITORS||||
|Amounts
falling due after more than one year|14|(104,000)|(127,000)|
|NET ASSETS||1,780,161|1,740,496|
|FUNDS|17|||
|Unrestricted
funds:||||
|General fund||(2,876)|(42,541)|
|Restricted
funds:||||
|Restricted fund||1,783,037|1,783,037|
|TOTAL FUNDS||1 780,161|1,740,496|
##
##
##
||FOR||THE YEAR ENDED|31STMARCH 2023||
|---|---|---|---|---|---|
|||||2023|2022|
||||Notes||8|
|Cash flows from operating|activities|||||
|Cash generated
from operations|||1|36,831|152,492|
|Net cash provided
by operating
activities||||36,831|152,492|
|Cash flows from investing|activities|||||
|Purchase oftangible
fixed assets|||||(191,041)|
|Interest received||||20|4|
|Net cash provided
by/(used|in) investing||activities|20|(191,037)|
|Cash flows from financing|activities|||||
|Loan repayments
in year||||12000||
|Net cash (used in)/provided|by financing||activities|12,000||
|Change in cash and cash equivalents||in||||
|the reporting
period||||24,851|(38,545)|
|Cash and cash equivalents|at the|||||
|beginning
ofthe reporting|period|||41,325|79,870|
|Cash and cash equivalents|at the end|of||||
|the reporting
period||||~66 176|41 325|
##
##
||||||2023|2022|
|---|---|---|---|---|---|---|
|||||||8|
|Net income|for the|reporting|period (as per the Statement|offinancial|||
|activities)|||||39,665|170,066|
|Adjustments|for:||||||
|Depreciation|charges||||4,857|6,501|
|Interest received|||||(20)|(4)|
|Decrease/(increase)
Decrease in creditors||in debtors|||4,763
~12,434)|(19,900)
~4,171)|
|Net cash provided||by operations|||36,831|152492|
##
##
|ANALYSIS OF CHA|NGES IN NKT DEBT||||
|---|---|---|---|---|
|||At 1.4.22|Cash flow|At 31.3.23|
|||||8|
|Net cash|||||
|Cash at bank and in hand||41,325|24,851|66,176|
|||41,325|24 851|~66 176|
|Debt|||||
|Debts falling due after|1 year|~81.000|12,000|~69.000|
|||~81,000|~12000|~69000|
|Total||~39675|36,851|~2,824|
##
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##
|2.|DONATIONS
AND L|EGA|CIES||||||
|---|---|---|---|---|---|---|---|---|
||||||||2023|2022|
|||||Unrestricted||Restricted|Total|Total|
|||||funds||funds|funds|funds|
|||||||8||8|
||Art Sale|||||||975|
||Project management|||2,908|||2,908|8,201|
||Sundry
income|||2,|103||2,103|621|
||Gifts Er. Donations|||21,406|||21,406|11,268|
||Hire of198Gallery premises|||52,034|||52,034|48,072|
|||||78,451|||78,451|69,137|
|3.|INVESTMENT INCOME||||||||
||||||||2023|2022|
|||||Unrestricted||Restricted|Total|Total|
|||||funds||funds|funds|funds|
|||||8|||||
||Deposit account interest||||20||20|4|
|4.|GRANTS RECEIVABLE||FORCORE|ACTIVITIES|||||
||||||||2023|2022|
||||||||Charitable|Total|
||||||||Activities|activities|
|||||||||8|
||Big Lottery Fund (HLF)|||||||8,710|
||Big Lottery Fund - Awards for All||||||9,100||
||Arts Council England,|London|||||69,819|84,376|
||London Borough ofLambeth||||||42,922|241,216|
||Walcot Foundation||||||49,835|45,682|
||The Jack Petchey Foundation||||||1,800|1,700|
||Power to Change CBF||||||7,311||
||Lambeth
Adult Learning||||||40,089||
||Kickstart scheme||||||2,022|13,108|
||Development
Trust|||||||17,000|
||The Span Trust|||||||2,500|
||Enterprise
Development|Fund|||||12,000||
||Freelands
Foundation||||||30,600||
||Brockwell Live Community||Fund||||2,623||
||||||||268,121|414,292|
##
##
##
|CHARITABLE|ACTIV|ITIES COSTS||||
|---|---|---|---|---|---|
||||Direct|Support||
||||Costs (see|costs (see||
||||note 6)|note 7)|Totals|
|Charitable
Activities|||~303 167|3,760|306,927|
|DIRECT COSTSOFCHARITABLE ACTIVITIES||||||
|||||2023|2022|
||||||8|
|Staffcosts||||129,288|100,481|
|Utilities - gas, light, rates||and water||10,296|7,234|
|Insurance||||6,283|5,204|
|Telephone
and broadband||||881|798|
|Printing,
postage|dc stationery|||4,813|9,043|
|Artist fee and materials||||7,211|6,300|
|Consultancy||||29,484|75,559|
|Exhibition
expenses||||10,245|7,645|
|Project material||||2,506|5,474|
|Furniture
and equipment||consumable||8,994|17,385|
|Cleaning||||6,227|4,416|
|Internet
and email||||850|878|
|Training||||508|592|
|Travel and subsistence||||4,727|7,764|
|Postage and delivery||||208|75|
|Software expenses||||6,183|3,917|
|Subscription||||5,016|7,191|
|Volunteers||||1,992|806|
|Workshop
fees|||||4,345|
|Repairs, renewals|and maintenance|||10,873|2,143|
|Staffwelfare||||6,163|3,851|
|Hire fees|||||173|
|Work placement|fees|||5,430||
|Project Grants paid out||||39,703|31,126|
|PR and Marketing||||429|344|
|Depreciation||||4,857|6,501|
|||||303,167|309 45|
##
##
##
|||||||Governance|
|---|---|---|---|---|---|---|
|||||||costs|
|Charitable|Activities|||||3,760|
|Support costs, included|||in|the above, are as follows:|||
||||||2023|2022|
||||||Charitable|Total|
||||||Activities|activities|
||||||8|8|
|Bank charges|||||357|315|
|Independent||examiner|fee||3,300|3,180|
|MC meetings|||||103|627|
||||||3,760|4, 122|
|NET INCOME/(EXPENDITURE)|||||||
|Net income/(expenditure)||||is stated atter charging/(crediting):|||
||||||2023|2022|
||||||8||
|Depreciation||- owned assets|||4,857|6,502|
##
##
##
|STAFF COSTS|||||
|---|---|---|---|---|
||||2023|2022|
|Wages and salaries|||123,313|98,756|
|Social security costs|||3,601|1,725|
|Other pension costs|||2 374||
||||~129288|~100 481|
|The average monthly|number ofemployees|during the year was as follows:|||
||||2023|2022|
|Core Staff|||1|2|
|Creative Learning|||7|2|
##
|11.|TANGIBLE FIXEDASSETS|TANGIBLE FIXEDASSETS|||||
|---|---|---|---|---|---|---|
|||||Fixtures|||
||||Freehold|and|Computer||
||||property|littings|equipment|Totals|
||||8||||
||COST||||||
||At 1stApril 2022 and 31stMarch 2023||1,783,037|60,319|178,210|2,021,566|
||DEPRECIATION||||||
||At 1stApril 2022|||52,164|161,287|213,451|
||Charge for year|||74|4,783|4,857|
||At 31stMarch 2023|||52,238|166,070|218,308|
||NKT BOOK VALUE||||||
||At 31stMarch 2023||1 783 037|8 081|12,140|1,803,258|
||At 31stMarch 2022||1783037|8155|16923|1808115|
|12.|DEBTORS:AMOUNTS FALLING DUE||WITHIN ONE YEAR||||
||||||2023|2022|
|||||||8|
||Trade debtors||||17,257|22,020|
||Other debtors||||650|650|
||||||17,907|22,670|
|13.|CREDITORS: AMOUNTS|FALLING DUE WITHIN ONE YEAR|||||
||||||2023|2022|
|||||||8|
||Other creditors|||||666|
||Accrued expenses||||3,180|3948|
||||||3 180|4,614|
|14.|CREDITORS: AMOUNTS|FALLING DUE AFTER MORE THAN ONK|||YEAR||
||||||2023|2022|
||||||8||
||Other loans (see note 15)||||69,000|81,000|
||Pension||||~35 000|46 000|
||||||104000|127,000|
##
##
|LOANS|LOANS|||||
|---|---|---|---|---|---|
|An analysis ofthe maturity ofloans is given below:||||||
|||||2023|2022|
|Amounts
falling due between two|and five years:|||||
|Other loans - 2-5 years||||69,000|81,000|
|ANALYSIS OF NKT ASSETSBETWEEN FUNDS||||||
|||||2023|2022|
||Unrestricted||Restricted|Total|Total|
|||fund|fund|funds|funds|
||||||8|
|Fixed assets||20,221|1,783,037|1,803,258|1,808,115|
|Current assets||15,083|69,000|84,083|63,995|
|Current liabilities
Long term liabilities|(3,180)
~35,000)||~69 DDD|(3,180)
~I04,000)|(4,614)
~327 000|
||~2,876)||1,783,037|1,780,161|1,740,496|
|MOVEMENT IN FUNDS||||||
|||||Net||
|||||movement|At|
||||At 1.4.22|in funds|31.3.23|
||||8|||
|Unrestricted
funds||||||
|General
fund|||(42,541)|39,665|(2,876)|
|Restricted funds||||||
|Restricted fund|||1,783,037||1,783,037|
|TOTAL FUNDS|||174D496|39665|1780,163|
|Net movement
in funds, included|in the above are as|follows:||||
||||Incoming|Resources|Movement|
||||resources|expended|in funds|
|||||8|8|
|Unrestricted
funds||||||
|General fund|||78,471|(38,806)|39,665|
|Restricted funds||||||
|Restricted fund|||268,121|(268,121)||
|TOTAL FUNDS|||~346 592|~306927)|39665|
##
##
##
##
|Comparatives
for move|me|nt
in funds||||||||
|---|---|---|---|---|---|---|---|---|---|
||||||||Net|Transfers||
||||||||movement|between|At|
||||||At 1.4.21||in funds|funds|31.3.22|
|||||||8|8||g|
|Unrestricted
funds||||||||||
|General fund||||||(29,518)|25,452|(38,475)|(42,541)|
|Restricted
funds||||||||||
|Restricted
fund||||1,599,948|||144,614|38,475|1,783,037|
|TOTAL FUNDS||||1,570,430|||170,066||1,746,496|
|Comparative
net movement||in funds, included|in|the above are as follows:||||||
||||||||Incoming|Resources|Movement|
||||||||resources|expended|in funds|
||||||||g|||
|Unrestricted
funds||||||||||
|General fund|||||||287,459|(262,007)|25,452|
|Restricted
funds||||||||||
|Restricted fund|||||||195,974|(51,360)|144,614|
|TOTAL FUNDS|||||||~483433|(313,367)|~170066|
|A current year 12months|and prior year 12months||||combined||position is as follows:|||
||||||||Net|Transfers||
||||||||movement|between|At|
||||||At 1.4.21||in funds|funds|31.3.23|
|||||||g||g||
|Unrestricted
funds||||||||||
|General
fund||||||(29,518)|65,117|(38,475)|(2,876)|
|Restricted
funds||||||||||
|Restricted
fund||||1,599,948|||144,614|38,475|1,783,037|
|TOTAL FUNDS||||I||570 430|209 731||1 7119161|
##
##
##
||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
|||8||
|Unrestricted
funds||||
|General fund|365,930|(300,813)|65,117|
|Restricted funds||||
|Restricted fund|464,095|(319,481)|144,614|
|TOTAL FUNDS|~830 025|~620394)|209,731|
##
##
##
##
|||||FOR THE|YEAR ENDED 31STM|ARCH 2023|||
|---|---|---|---|---|---|---|---|---|
||||||||2023|2022|
||||||Unrestricted|Restricted|Total|Total|
||||||funds|funds|funds|funds|
|INCOME AND ENDOWMENTS|||||||||
|Donations and legacies|||||||||
|Art Sale||||||||975|
|Project management|||||2,908||2,908|8,201|
|Sundry income|||||2,103||2,103|621|
|Gifts &Donations|||||21,406||21,406|11,268|
|Hire of 198Gallery premises|||||52,034||52,034|48,072|
||||||78,451||78,451|69,137|
|Investment
income|||||||||
|Deposit account interest|||||20||20||
|Charitable
activities|||||||||
|Big Lottery Fund (HLF)||||||||8,710|
|Big Lottery Fund - Awards|||for All|||9,100|9,100||
|Arts Council England,|London|||||69,819|69,819|84,376|
|London Borough ofLambeth||||||42,922|42,922|241,216|
|Walcot Foundation||||||49,835|49,835|45,682|
|The Jack Petchey Foundation||||||1,800|1,800|1,700|
|Power to Change CBF||||||7,311|7,311||
|Lambeth
Adult Learning||||||40,089|40,089||
|IGckstart scheme||||||2,022|2,022|13,108|
|Development
Trust||||||||17,000|
|The Span Trust||||||||2,500|
|Enterprise
Development||Fund||||12,000|12,000||
|Freelands
Foundation||||||30,600|30,600||
|Brockwell Live Community||||Fund||2,623|2,623||
|||||||268,121|268,121|~414 292|
|Total incoming
resources|||||78,471|268,121|346,592|483,433|
|EXPENDITURE|||||||||
|Charitable
activities|||||||||
|Wages||||||123,313|123,313|98,756|
|Social security||||||3,601|3,601|1,725|
|Pensions||||||2,374|2,374||
|Utilities - gas, light, rates||and||water|10,296||10,296|7,234|
|Insurance|||||6,275|8|6,283|5,204|
|Telephone
and broadband|||||881||881|798|
|Printing,
postage &stationery||||||4,813|4,813|9,043|
|Artist fee and materials|||||161|7,050|7,211|6,300|
|Consultancy|||||2,309|27,175|29,484|75,559|
|Carried forward|||||19,922|168,334|188,256|204,619|
##
##
|||FOR THE|YEAR ENDED 31STM|ARCH 2023|||
|---|---|---|---|---|---|---|
||||||2023|2022|
||||Unrestricted|Restricted|Total|Total|
||||funds|funds|funds|funds|
||||||8|8|
|Charitable
activities|||||||
|Brought forward|||19,922|168,334|188,256|204,619|
|Exhibition
expenses||||10,245|10,245|7,645|
|Project material||||2,506|2,506|5,474|
|Furniture
and equipment||consumable||8,994|8,994|17,385|
|Cleaning|||6,227||6,227|4,416|
|Internet
and email|||850||850|878|
|Training||||508|508|592|
|Travel and subsistence|||322|4,405|4,727|7,764|
|Postage and delivery|||35|173|208|75|
|Sottware expenses||||6,183|6,183|3,917|
|Subscription||||5,016|5,016|7,191|
|Volunteers|||55|1,937|1,992|806|
|Workshop
fees||||||4,345|
|Repairs, renewals|and maintenance||1,226|9,647|10,873|2,143|
|Staffwelfare|||1,552|4,611|6,163|3,851|
|Hire fees||||||173|
|Work placement|fees|||5,430|5,430||
|Project Grants paid out||||39,703|39,703|31,126|
|PR and Marketing||||429|429|344|
|Depreciation oftangible||fixed assets|~4857||4,857|~6501|
||||35,046|268,121|303,167|309,245|
|Support costs|||||||
|Governance
costs|||||||
|Bank charges|||357||357|315|
|Independent
examiner||fee|3,300||3,300|3,180|
|MC meetings|||103||103|627|
||||~3760||~3760|4 122|
|Total resources expended|||~38 806|268 121|306,927|313,367|
|Net income|||~39665||39,665|170,066|