REGISTERED COMPANY NUMBER: 02369267 (England and Wales) REGISTERED CHARITY 144UMBER: 801614 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 FOR 198 CONTEMPORARY ARTS AND LEARNIIYG LIMITED Lcroy Reid & Co Chartered Certified Accountants and Statutory Auditors 299 Northborough Road Norbury London SW16 4TR
198 CONTEMPOIL4RY ARTS AND LEARNING LIMITED CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 Pydge Reference v4nd admlnlstratlve detalls Report of the trustees Independent examlner's report Statement ol financial actlvltles Statement of flnanclal position Statement of ca¥h llows 10 NotL'S to the stY4tement of cgsh noivs Notes to the financial 5tatL'monts 12 to 19 Detailed 5tYdtement of financlal v4Ctivities 20 to 21
198 CONTEMPORARY ARTS AND LEARNING LIMITED REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31ST MARCH 2024 TRUSTEES H L Thompson B Asante A Ikwe-Tyehimba L K Johnson K Thcophilus L Johnson N Lockey O Williams C C Thompson (resigned 1.3.24) A E1c(k (resigned 1.3.24) B Rumamba (rcsigned 1.3.24) J Forbon (resi¥nLd l.10.24) REGISTERED OFFICE 194 - 198 Railton Road Herne Hill London SE24 OJT REGISTERED COMPANY NUMBER 02369267 (Fngland and WalLs) REGISTERED CHARITY NUMBER 801614 INDEPENDENT EXAMINER Leroy Reid & Co Chartered CertifiLd Accountants and Statutory Auditors 299 Northborough Road Norbury London SW16 4TR Page I
198 CONTEMPORARY ARTS AND LEARNING LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 The trustees who are also directors of the charity for th¢ purposes of the Companies Act 2006, presenl their report with the financial statements of th¢ charity for the year ¢nd¢d 3 1st March 2024. The trnstees have adopted th¢ 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) (ctycctive l January 2019). OBJECTIVES AND ACTIVITIES ObjLCtives ¥dnd aims The companys objects are specifically restricted to the following; l. To promote and provide an arts exhibition ¢entr¢ and community centre primarily but not exclusively for th¢ b¢nefit of th¢ inhabitants of the London Borough of LamlKth, the inhabitants of London generally and boih nalional and interniltion&l iiudieDces, without distinction of scx or of political, religyious ur othLr opinion5, by associating the local auihorities, voluntary or organi.sations and the inhabitant.s in a common effort to adviinLL arts education and to providc facilities in thc intcr¢sts of social welfare for recreation and l¢itsur¢ tim¢ occupation with the vbjcct ol. in)provin¥ thc condition4 of life for the said inhabitants. 2. To promote Ihc advanccmcnt of cducation for the public bcncfit, particularly in relation to the arts and particularly with young pcoplc. 3. The relief of unemployment for the benefit of thc public in such ways as may b¢. thought fit, including assi8tance to rind employment. Equal Opportunitic% In the furtherance of the Objects the Company $hall at all times actively pr()motc and take into coT]sidcration ihe principles of equality of opportunity Volunteers Thc Charity i¥ supported by a large nuinbcr of volunteers and the trutritC&8 would like to aLknowledg¢ their ontribution to the continued success of Ihc Charity. Thcrc 18 a Voluntccring Policy in place that underpins thc way thc Charity works with voluntccrs and details th¢ b¢ncfit8 of volunteering for both the individual and the Charity. Page 2
198 CONTEMPORARY ARTS AND LEARNING LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 STRATEGIC REPORT Achievement and performance Charltable activitles The financial year 2023-24 benefited from a strong programme of exhibitions and events, b¢ginning with ihe Women Of Colour Art Award exhibition. spotlighting ihe practices of seven women of colour artists currently working in the UK. Plurality Now.. New Futures, a gFI'oup exhibition, gathered ten London-bdscd arti.sts exploring the multifaceted and constantly evolving conccpt of identity for second to third generation of Black and Asian immigranls in London. As part of 198's Associate Programme, The Shape Open 2023: Open All Hours exhibited eighteen disabled and non-disabled artists from around the world, as a result of an open call for artists. A rther open call was offered for programme of short films, Wlth a showcase of selected moving linage work presented for 8 weeks. 198 organised and ho8t¢d Sonic Constellations, an ongoing series of listening sessions curated and hosted by artist and composer Ain Bailey. Part of the ongoing artistic programming Strand. a furth¢r seri¢s of events, Critical Conteinplations, focused on dialogue, debal¢ and exchang¢, invitingy drtist5. thinkcrs, activists, WTitLrs and creative practitioners to share Ihcir practic¢ and pcr8pccIiv¢8 in an actively political and critical forum for dit>Loursc and praxis. 14or examplc. bl Pl'dLtical rcadinglwriting workshop with Chloc Filani. allowed participants lo explorL Ihcir Writing practicc in a faLilitated jPuLl and have the opportunity to rL'<id thcir work aloud and r¢L¢iv¢ Critical feedback in a supportive environment. 198 continued to partner with the George Padmorc In8tilule for a film s¢r¢cning and panel talk on Michael Smith's Upon Wcslminglcr Bridgc. TogL'thcr with ()ur PÉirtner, Phutufusion we Lontinued to run thL StLP Up programme, with thr¢c I11-w¢ck courses for low or unemployed adults 19+, living in Lambeth, who wunt to learn murc aboui photography, art & dcsign or video. 198 offered two sets of three uniquc cour.8cs (photography, art & detTrigFn and vidco), desigvned to strengthcn and cxtcnd parlicipanls, crcativc practicc, iinprovc thcir pro8pcct$ as they move into tlie arts, crcativc industries or furlhcr Lducalion. 198 als() offLred employability progyrarnmes, supporting, partlLipanlb to progress into lmpl()ncnt and entrepreneurship in the crcalive and cullural industrics, coveringF advice on portfoli08, social media, personal brand dcvelopmenl, website8, CV'%, blog8 and othLr (TrutL()mc.8 lo help learners to stand L)Ut in a competitive markct. 198's Fa81 Forward progi'<imines providLd nnc-on-one as5iStancL on job 8carch, porifolios, applicdlions and inlLrview5. Financial review Flnmncial position Thc Ti'u8lee8 arc sali8ficd with tlic pcrformanLe of thc charity for the ycar under review. The surplus for the year was £25,114 {2023 £39,665) and reservcs of £1,805,275 (2023 £1,780,161). Further details of thL composition of the reserves can b¢ found on page 17 and note 16. Reserves polley Thc trustcc% havc adupted the Charity Commission's guidance in sctting a rcscrvc policy which 15 based on realistic assessments of the needs for the Charity to hold rcscrves. This policy lakcs into account the needs of the Charity to plan for conting¢ncies and to protect both its slatT and its clients from any unforesecn advcrsc circumslanccs. Financlal and rlsk management objeelive5 and policies The Trustees have conducted a review of th¢ major risks to which the Charity is expo8ed. A risk register hav¢ been ¢stablished and is updat¢d annually. Wh¢re appropriat¢, systems or procedures have been established to mitigate the risks the Charity fac¢s. Potential external risks to fvnding have led to th¢ dev¢lopment of a business plan that will allow for the diversification of funding and activities. Internal control risks ar¢ minimised by the iinplementation of procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with applicable laws and regulation governing the operation of the Charity in the United Kingdoin. These procedures are periodically reviewed to ensur¢ they continue to meet the needs of the Company. All members of staff, trustees and volunteers who have contact with children and vulnerable adults are DBS Checked. Page 3
198 CONTEMPORARY ARTS AND LEARNING LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 STRATEGIC REPORT Future plans Going forward, we continue to focus on financial sustainability. Our project exploring feasibility and seeking ndIng to Install solar power, to mitigate against rising energy costs, is ongoing. We continued our funding as an Arts Council NPO, and Lambcth Adult Lcarning provider, completed the produLtion of a scries of limited edition artists, prints, and dosigncd a Fricnds programme. We overhauled and redesigned our website, inLluding setting up an online shop. Further income was generated through workspace rental and venue hire. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing docuTnent The charity is controllcd by its governing document, a deed of trust, and constilutes a limited company. limited by guarantee, as d¢fined by the Companies Act 2006. Or£AnlsAtional structure 198 Contcmporary Arts <ind Learning Limited has eleven trustees who are responsible for thc slralcgic direction and policy of thc. Churity. A scheme of dclcgalion is in plaLV dnd d4ly to day Tesponsibilily for the delivcry of scrviccs re.sl with the Gall¢ry Dircctor and thL Staff tLÉim. The Trustees are responsible for ensuring that the Churity dLlivcr% thc services negTrotiated Ind agyrLLd ¢ind Ihtit quality tritiindards arc mainlaincd. Key managemcnt remuneratlon The Gallery Dircctor i.s thc mL)St ¥enior employee with the Charity and the requi5itc rcmuncralion falls within the rangc ot'£30,000 - £40,000 pLr annum. STATEMENT OF TRUSTEESI RESP()NSIBILITIES The trustees (who are al.so thc dirLCtors of198 C"ontemporary Arts And Learning Limilcd for the purposes of Lompany law) are re8ponsiblc for prcpdringy the Report of the Iru5tee5 and the financial stutemLnts in accordance with appliLdblL' law and Unitcd Kingidvm ALLounlingy Siandard5 (Uniled Kingdom CJcnerally Accepted ALLountiiig Practice) includin FiniillLial RLpL)rtingF Standard 102 'Thc Financial Rcporling Standard applicable in the UK and RLpublic of ireland" Company law rcquircs IhL IrustLLs to prepare financial statements for each finanoial ycar which give a true and fair vicw of thc stalc of alFdirs of the charitable company and of Ihe incomingF resoufLetrs dnd application of resources, includingy IhL income and expendilurc, of thc charitablc company tor ihat period. In preparin¥ those linancial statements, the trustees are rcquircd lo 8clcct 8Uitablc acLountinb policies and Ihcn apply them consistently. obs¢rve th¢ methods and princip1¢8 in thc Charity SORP. make judgemenls and cstimatcs that are rehsondble and prudent; 8tatc whcthcr applicablc aLcounting standards have been followed, Subject to any matcriiil dcparlures disclosed and cxp141ined in the financial statemcnt.s' prepare the financial 8talcm¢nts on the going concern basis unless it is inappropriate to presume that the charitable company will continuc in busine55. The trustees are re5ponsibl¢ for keeping proper accounting records which disclose with reasonable accuracy at any timc the financial position of the charitablc company and to cnablc Ihem to ensure that the financial stalements omply with the Companies Act 2006. Thcy arc also rcsponsiblc for 5afcguarding the assets of the charitable company and hence for taking reasonable st¢ps for the prevention and detection of fraud and other irregularities. Page 4
198 CONTEMPOIL4RY ARTS AND LEARNING LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 Report of the trustees, incorpoi'aling a Strategic report, approved by order of the board of trustees, as the company directors, on . li - Il- 11..................... and signed on the board's behalf by: L K Joliiiso - Trustee Pag¢ 5
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF 198 COIYTEMPORARY ARTS AND LEARNING LIMITED Independent examiner's report to the trustees of 198 Contemporary Arts And Learnlng Llmlted ('the Compgny,) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 st March 2024. Responslbilltles and brdsls of report As the ¢haritgs trustees of the Company (and also ils 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 independ¢nt exarnination, I report in reSpt of my examination of your charitls accounts as carried out under Section 145 of the Charilies Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charily Commission under Section 145(5) (b) of the 2011 Act. IndL'PLndent examlner's statement Sin¢¢ your charitgs gross income ex¢¢¢ded 1250,000 your examiner must be a m¢rnber of a listed body. I can confirm that I dm qualified to undertakc Ihc examinalion because l am a member of the Association of Charlered Certified Accountants, which is onc of th¢ listed bodies, I have compl¢ted my examination. I confirm that no mallcrs have come to my attention in connection with the examination giving me cau,qc to belicvc: accounting rccords were not kept in respect of the Company as required by S¢ction 386 of the 2006 ALI. or the accounti+ do not accord with those records. or the aoUnt$ do nol comply with thc accountin¥ rcquirLmcnL$ ot Scclion 396 of the 2006 Act othcr than any requirement that thc acLuunts givc il truc and fuir view which 18 not a mattcr considered as part of an independent cxamination,. or the accounts hav¢ not been prepared in accordance wilh the methods and principles of the Statement of RLL'ommcndcd Practice for accounting and reporting by charities (applicable to Lharitics preparing, their accounts in accordance with thc Financial Rcporting Standard applicable in the UK and Rcpublic of Ireland (FRS 102)). I havc no ci)nccrns and have come across no other mallers in connection with thL cxamiiiation to which attentiun bhould bc drawn in this report in ordcr to enablc a propcr undcr8tanding of the accounts to be rcdlhcd. Ebenezer Okai, Bsc, FCCA The Association of ChaTtered Certified Accountants Leroy Reid & Co Chart¢rcd Certified A¢¢ountants and Statutory Auditors 299 Northborough Road Norbury London SW16 4TR Date: li Page 6
198 CONTEMPORARY ARTS AND LEARIYING LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING AN INCOME AND FXPEINDITURE ACCOUIYT FOR THE YEAR ENDED 31ST MARCH 2024 2024 Total fund5 2023 Total funds Unre5trlcted fund Restricted lund Notes INCOME AIYD EIYDOWMENTS FROM Donations and legacies 94.687 3,000 97,687 78,451 ChArlt¥dble actlvltle5 Charitable Activities 90,755 194,471 285,226 2611,121 Investment income 151 20 Total 1115,593 197,471 383,064 346,592 EXPENDITURE ON Charltgble actlvltles Charitable Activitics 207,979 149.972 357,951 30CI,927 NET INCOMEI(EXPENDITURE) (22,386) 47,499 25,113 39,665 RECONCILIATION OF FULYDS Tolal funds brought forward (2,876) 1,783,037 1,780,161 1,740,496 TOTAL FUNDS CARRIED FORWARD {25,262) 1,830,536 1,805,274 1.780,161 The notes forni part of these financial stat¢ments Page 7
198 CONTEMPOIL4RY ARTS AND LEARNING LIMITED RLGISTIRED NUMBEII: 02369267 STATEMENT OF FINANCIAL POSITION 31ST MARCH 2024 2024 2023 Notes FIXED ASSETS Tangible assets 1,798,203 ,803,258 CURREIYT ASSETS Debtors Cash dt bank and in hand 12 19.346 71,265 17,907 66,176 90,611 84,0113 CREDITORS Amounts falling due within one year 13 (3,540) (3,180) NET CURRENT ASSETS 87.071 80,903 TOTAL ASSETS LESS CURRENT LIABILITIES 1,885,274 1,884,161 CREDITORS Amounts falling due aftcr morc thun onc year 14 (80,000) (104,000) NET ASSETS 1,11115,274 ,780,161 FUNDS Unrcstricted fund8: Gcncral tund Restriitcd funds.. RestriLted fund (25,262) (2,876) 1,830,536 1,783,037 TOTAL FUIYDS 1,805,274 ,780,161 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for thc year ended 31st March 2024. The members have not required the company to obtain an audit of its financial stateinents for thc ycar cnded 31 st March 2024 in accordance with Section 476 of the Companies Act 2006. The trustees acknowlcdg¢ their rcsponsibilities for (a) cnsuring ihat the charitable company keeps accountingi records that Lomply with Scction8 386 and 387 of the Companies Act 2006 and preparing financial stdtcrncnts whiih byive a true dnd fair view of thc statc of affairs of the charitable company a8 at thc cnd of each financial year and of its surplus or deficit for each findncial ycar in accordance with the rcquirc'ments of Sections 394 and 395 and which otherwise comply with the requiremlntq of the Companies Act 2006 relating to financial statements. so far as applicable to the charitable COTnpany. (b) Thc financial statements were approved by the Board of Trustees and authoriscd for issue 11-12- 1*....,........ . and were signed on its behalf by.. The notes form part of these financial statements Page 8 continued...
198 CONTEMPORARY ARTS AND LEARNING LIMITED RCGISTEI RED NUMBER: 02369267 STATEMENT OF FINANCIAL POSITION - contlnued 31ST MARCH 2024 on - Trubtee The notes form part of these financial 8tat¢ments Page 9
198 CONTEMPORARY ARTS AND LEARNING LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31ST MARCH 2024 2024 2023 Notes Cash flows froln operating actlvities Cash generated from operations 16,938 36,831 Net cash provided by operating activities 16,938 36,831 Cgsh flows from investing activities Interest received 151 20 Net cash provided by investing activities 151 20 Cash tlows from finaneing activities Loan repayment5 in year (12,000) (12,000) Nct cash used in financing aitivitics ( 12.000) (12,000) Change In cash and Cash equlvalent$ In the reportlng perlod Cash and cash equivalents at the bcginnlng ot. the rep(brtln% pLriod 5,089 24,851 66,176 41,325 Cash and cash equlvalents at the end of the reportlng perlod 71,265 66,176 The notes form part of these financial stal¢ments Page 10
198 CONTEMPORARY ARTS AND LEARNING LIMITED NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31ST MARCH 2024 RECOIYCILIATION OF NET INCOME TO IYET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net irteome for the reporting period (as per the Statement of finydncial aetivitie5) Adjustments for: Depreciation charges Interest receiv¢d (Incrcasc)Idecrease in debtors Decrease in creditors 25,113 39,665 5,055 (151) (1.439) (11,640) 4,857 (20) 4,763 (12,434) Net cash provided by operation$ 16,938 36,831 ANALYSIS OF CHANGES IN NET (DEBT)IFUNDS At 1.4.23 Cash flow At 31.3.24 Net eash Cash at bank and in hand 66,176 5.089 71.265 66,176 5,089 71,265 Debt Debts falling duc aftcr l ycar (69,000) 12,000 (57,000) (69.000) 12,000 {57,000) Total (2,824) 17,089 14,265 The notes form part of these financial statements Pagell
198 CONTEMPORARY ARTS AND LEARNING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 ACCOUNTING POLICIES BASIS OF PREPARING THE FINANCIAL STATEMENTS The financial statements of th¢ charitable company. which is a public benefit entity undcr FRS 102. have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charitic8: Sl2tcment of R¢commend¢d Pra¢licc applicablc to charitiC8 prcparing th¢ir accounls in accordance with the FinÉincial Reporting Slandard appliL(Iblc in the UK und RepubliL of Ireland (FRS 102) (effectiv¢ l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standiird applicablc in the UK and Republic of Ireland, and ihe Compani&s Act 2006. Thc financial statcmcnts have been prepared under the historical cost convenlion. INCOME All incomc 18 rccogniscd in the Statement of Financial Activitie5 once thc charity ha8 entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. EXPENDITURE Liabilitics arc rccognised as expenditure as soon as there is a legal or conslruclive obligation committing the charity to that expenditure, it is probablc Ihat a transfcr of economic benefits will E¢ required in seltlL'm¢nt and th¢ amount of the obligation can bc mcasurcd rcliably. Expcnditure is accounted for on an accruals basis and has been classiticd undLr hLading75 that dggregale all cost relaiLd lo ihe ¥atcgFory. Wh¢rc ¢osts cannot be dircctly attributcd lo particular headinbFS they have been allocated lo aLlivilics on a basis consistent wilh thc use of rL'sources. TANGIBLE FIXED ASSETS Deprecialion is providcd at the followin&y annual rates in order to writc off cach asset over it> estimaled use1 lifc. Furniture & Itillings and nfticc Equipmcnt 250/0 rLduLing) mcthod TAXATION The iharity is exempt from corporation lax on il.s charitablc activities. liUND ACCOUNTING Unrc8triLtLd fundb can be used in accordance with the charitable objectives al the discretion of the trust¢¢s. Restricted funds can only b¢ uscd for particul<ir restrict¢d purposcs within the objLCts of the charity. Restrictions dri¥¢ wh¢n ypeLified by the donor or when ndS are raised for particular restricted purposes. Further explanation ot'thc naturc and purposc of caLh fvnd is includcd in the notes to the financial statements. PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS The charitablc company op¢rat¢s a defined contribution pcnsion scheme. Contributions payable to the charitable companls pension scheme are charged lo the Statement of Financial Activities in th¢ pcriod to which they relate. Page 12 continued...
198 CONTEMPORARY ARTS AND LEARNING LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024 DONATIONS AND LEGACIES 2024 Total funds 2023 Total fund5 Unrestricted funds Restricted funds Project management Sundry income GilL8 & Donations Hire of198 Gallery premises 1.195 2.373 1,162 89,957 1,195 2,373 4.162 89,957 2.908 2,103 21,406 52,034 3,000 94,687 3.000 97,C)87 78,451 INVESTMENT INCOME 2024 Total funds 2023 Total funds Unrestrleted funds Restrlcted fund5 Deposit accounl interest 151 151 20 GRANTS RECEIVABLE FOR CORE ACTIVITIES 2024 Charltablc Actlvltles 2023 Total Activities Big Lottery Fund - Awards for All Arl&> CounLiI EngFlund, London London BoroubTh of Lambelh Walcol boundalion Thc Jack Pctchcy Fvundation P¢tLY Crudda5 Foundation Power to Change CBF Lambeth Adult Lcarning Kickstarl .%chcmc Ent¢rprise Development Fund Freelands Foundation Brockwell Llve Community Fund 9,100 69,t419 42,922 49,835 1,800 84,711 6,242 49,885 1,800 5,000 7,373 82,215 7,311 40,089 2,022 12,000 30,600 2,623 16,000 30,000 2,000 285,226 268,121 Page 13 continued...
198 CONTEMPORARY ARTS AND LEARNING LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024 CHARrrABLE ACTIVITIES COSTS Direct Costs (see note 6) Supporl costs (see note 7) Totals Charitable Activities 353,425 4,526 357,951 DIRECT COSTS OF CHARITABLE ACTIVITIES 2024 21123 Staff costs Utiliti¢s - gas, light, rates and water Insuriince Telephone and broadband Prinling, postagc & stationery Artist fee and materials Consultancy Exhibition expensc8 Projcct matcrial Furniture and equipment consumable Cleanin Internet and email Training Travcl and 8ubsist¢nce Poslag¢ and delivery Software expenses Subscription Volunteers R¥pairs, rcncwals and maintenance Stuff welfare Work placement fees Project Grants paid out PR and Markcting Depr¢ci&tion 152,091 36,308 5,750 1,041 9,147 14,510 47,021 7,934 3,432 739 7,371 1.273 1,0511 5,774 129.288 10,296 6,283 88l 4.813 7,211 29,484 10,245 2,506 8,994 6,227 850 508 4,727 208 6,183 5,016 1,992 10,873 6,163 5,430 39,703 429 4,857 5,1148 6,3R3 520 6,885 ,225 2,965 31,895 5,055 353,425 303.167 Page 14 ¢ontinu¢d..
198 CONTEMPOIL4RY ARTS AND LEARNING LIMITED NOTES TO THE FINANCIAL STATEMENTS - onntlniip.A FOR THE YEAR ENDED 31ST MARCH 2024 SUPPORT COSTS Governance costs Charitabl¢ Activities 4,526 Support costs, included in the above, are as follows: 2024 Charltable Activities 2023 Total acllvlties Bank chargc8 Indcpcndent exuminer fee MC meetings 328 3,498 700 357 3,300 103 4,526 3,760 NET INCOME/(EXPENDITURE} Nel incomel(expenditure) is stated after chargingl(crediting): 2024 2023 Dcprcciation - ownL'd assets 5,055 4.857 TRUSTEES, REMUNERATION AND BENEFITS Thcrc wcre no trustees, remuneration or other benefit5 for thc year ended 31 st March 2024 nor for the ycar ended 31 st March 2023. TRUSTEES, EXPENSES There were no trustees, cxpcn.ses paid for the year ended 31st March 2024 nor for the year ended 3 1st March 2023. 10. STAFF COSTS 2024 2023 Wages and salaries Social security C05t5 Oth¢r p¢nsion costs 144,327 4,928 2,836 123,313 3,601 2,374 152,091 129,288 The average monthly number of employees during the year was as follows: 2024 2023 Core Staff Creative Learning Page 15 continued...
198 CONTEMPORARY ARTS AND I,F.A_RNINr. LIMITED NOTES TO THE filNANCIAL STATEMIN.T.q - p.rtntiniip.A FOR THE YEAR ENDED 31ST MARCH 2U24 io. STAFF COSTS - contlnued No employees received emoluments in excess of £60.000. TANGIBLE FIXED ASSETS Fixtures and flttings Freehold property Computer equlpmLint Totals COST At 18t April 2023 and 31 MarLh 2024 1,783,037 60,319 178,210 2,021,566 DEPRECIATION At I st April 2023 Lharg¢ for year 52,238 2,020 166,070 3,035 218,308 5,055 At 3 1st March 2024 54,258 169,105 223,363 NET BOOK VALUE At 31st March 2024 1,783,037 6,061 9,105 1,798,203 At 31st March 2023 1,783,037 ,081 12,140 1,803,258 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Tradc dcbtor Other debtors 18,696 650 17,257 650 19,346 17.907 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONF YEAR 2024 2023 Other creditors Accrued expenses 42 3,498 3,180 3,540 3,180 Page 16 ontinued...
198 CONTEMPO]L4RY ARTS AND LEARNING LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 3JST MARCH 2024 14. CREDITORS: AMOUNTS FALLING DUE AFfER MORE THAN ONE YEAR 2024 2023 Other Iotinb (see note 15) Pension 57,000 23,000 69,000 35,000 80,000 104,000 15. LOANS An analysitp of the Tnaturity of loans is given beluw.. 2024 2023 Amounts falling due betw¢¢n Iwo and fiv¢ years: Other loans - 2-5 years 57,000 16. ANALYSIS OF NET ASSETS BETWEEN FUNDS 2024 Total funds 2023 Total funds Unre$trltted Restrlcted fund fund Fixed assets Current assets Currcnt liabilitics Long tLmi liabilities 15,166 14.734 (6.678) (48,484) 1,783,037 75,877 3,138 (31,516) 1,798,203 90,61 (3.540) (80,000) 1,803,258 84,083 (3,180) (104,000) (25,262) ,830,536 1,805,274 1,780,161 17. MOVEMENT IN FUNDS Net movLimLint in funds At 31.3.24 At 1.4.23 Unrestrlcted funds G¢n¢ral lund (2,876) (22,386) (25,262) Restrlcted funds Restricted fund 1,783,037 47,499 1,830,536 TOTAL FUNDS 1,780,161 25,113 1,805,274 Page 17 continued...
198 CONTEMPORARY ARTS AND LEARNING LIMITED NOTES TO THE FINANCIAL STATEMENTS - eontinued FOR THE YEAR ENDED 31ST MARCH 2024 17. MOVEMENT IN FUNDS - contlnued Net movement in funds, included in the alx)ve are as follows: Incoming resources Resources expended MovLment In funds Unrestrlcted funds General fvnd 185,593 {207.979) (22,386) Restrlcted funds Restricted fund 197,471 (149,972) 47,499 TOTAL FUIYDS 383.064 (357,951) 25,113 Comparatlves f(Jr movement In funds Net movement In funds At 31.3.23 At 1.4.22 Unrcstrlcted funds Cicncral fund (42,541) 39,665 (2,876) Restricted funds Re81ricied fund 1,783,037 1,783,037 TOTAL FUNDS 1,740,496 39,665 1,780,161 Comparative net movemenl in funds, includcd in Ihc alx)ve arc as follows: Incomlng resources Resources expended Movement In funds Unrestrlcted funds General fund 78,471 (38,806) 39,665 Restrieted funds RL%trict¢d fund 268,121 (268,121) TOTAL FUNDS 346.592 (306,927) 39,665 Page 18 continued..
198 CONTEMPORARY ARTS AND I.F.A_R_NINr. LIMITED NOTES TO THE FINAIYCIAL STA_TFMF.NTS . r.fintiniJe.d FOR THE YEAR ENDED 31ST MARCH 2024 17. MOVEMENT IIY FUNDS - eontlnued A Current year 12 months and prior year 12 months combined position is as fvllows.. Net movement In fund5 At 31.3.24 At 1.4.22 Unrestrlcted funds General fund (42,541) 17,279 (25,262) Restrleted funds Restricted fund 1,783,037 47,499 1,830,536 TOTAL FUNDS 1,740.496 64,778 1,805,274 A ¢urr¢nl ycar 12 months and prior y¢ar 12 months combined net movement in nds, included in thc above are as fulluws: Incoming resourees Re50urees expLnded Movcmenl In funds Unreslrlcted funds General fund 264,064 (246,7R5) 17,279 Restrleted funds Rebtricted fund 465,592 (418,093) 47,499 TOTAL FUNDS 729,656 (664.t478) 64,778 18. RELATED PARTY DISCLOSURES Ther¢ werL no related party transactions for the year endcd 31 st March 2024. 19. PENSION LIABILITY The trustees of the charity have agreed according to a special resolution minuted and approvcd on I l January 2021 to crealc a pcnsion liability for £50.000 wilh respect to two employees regTarding thc charity'5 non-contribution into a pension fund since their employment. The trustees agree that payments would be made over 5 years. Page 19
198 CONTEMPORARY ARTS AND LEARNING LIMITED DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024 2024 Total funds 2023 Total funds Unrestrieted funds Restricted funds INCOME AND ENDOWMENTS Donations Ydnd legacie5 Project management Sundry income Gifts & Donations Hire of198 Gdllery premises 1,195 2,373 1,162 89,957 1,195 2,373 4,162 89.957 2,908 2,103 21,406 52,034 3,000 94,687 3,000 97,687 78.451 Investment Income Dcposit account intcrL'bt 151 20 Charltable activltles Big Lollery Fund - Award8 for All Arts Council England. London L()ndon Borough of Lambeth WalLot Foundation The Jack Pelchey Foundation Pctcr Cruddas Foundation Powcr to ChangL C'BF Lambeth Adult Le&rnin&' KiLkslart scheme Enterpri8e Developmcnl Fund Frcelands Foundation BroLkwcll LIVL Community Fund 9,100 69,819 42,922 49,835 1,800 84.711 6,044 84,711 6,242 49,885 I,ROO 5,1100 7,373 82,215 198 49,11115 1.800 5,000 7,373 2,215 7,311 40,089 2,1122 12,000 30,600 2,623 16,000 30,000 2,000 16,000 30,11110 2,000 90,755 194,471 285,226 268,121 T(Jtal Incomlng resource5 185,593 197,471 383,064 346,592 EXPENDITURE Chxrltable actlvltles 98,230 46,097 4.928 2,836 144,327 4,928 2,836 36,308 5,750 1,041 9,147 14,510 47,021 7,934 273,802 123,313 3,601 2.374 10.296 6,283 881 4,813 7,211 29,484 10,245 198,501 Social sccurity Penbions Utilitics gas, light. rates and wat¢r Insuranle Telephone and broadband Printing, postage & stationery Artist f¢¢ and materials Consultancy Exhibition expenses Carri¢d forward 36,308 5.750 1,041 9,147 14.510 47,021 4.273 105,155 3,661 168.647 This page does not form part of the statutory financial statements Page 20
198 CONTEMPORARY ARTS AND LEARNING LIMITED DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024 2024 Total funds 2023 Total funds Unrestricted funds Restrteted funds Charltable actlvltles Brought forward Project material Furniture and equipment consumable Cleaning Internet and email Training Travel and subsistence Po.stage and delivery Softwarc cxpenscs Subscription Volunt¢¢rs Rcpair8, renewals and maintenance Staff welfarc Work plaLetnent fee8 Project Grants paid out PR And Markcling DeprLYiatinn of tangiible fixed asselg 168,647 105,155 3,432 273.802 3,432 739 7,371 1,273 1,058 5,774 198,501 2,506 8,994 6,227 850 508 4,727 208 6,183 5.016 1,992 10,873 6,163 5,430 39,703 429 4,857 739 7,371 1,273 1,058 5,774 5,048 6,383 520 360 1,225 5,048 6,383 520 6,8115 1,225 2.965 31,895 6,525 2,965 31,895 5,055 5,055 203,453 149,972 353,425 303.167 Support costs Governance eosts Bank chargyes Independent cxamincr fee MC. m¢cting8 328 3,498 700 328 3.498 700 357 3,300 103 4,526 4,526 3,760 Total rcsourccs ¢xp¢nd¢d 207,979 149,972 357,951 306.927 Iyet Income (22,386) 47,499 25,113 39,665 This page does not form part of the statutory financial statements Page21