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REPORT OF THE DIRECTORS AND |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2022 |
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LONDON LGBTQ+ COMMUNITY CENTRE LIMITED |
REGISTERED NUMBER:
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REPORT OF THE DIRECTORS AND |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2022 |
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FOR |
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LONDON LGBTQ+ COMMUNITY CENTRE LIMITED |
LONDON LGBTQ+ COMMUNITY CENTRE LIMITED (REGISTERED NUMBER: 12252776) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2022 |
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Company Information | 1 |
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Report of the Directors | 2 |
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Balance Sheet | 4 |
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Notes to the Financial Statements | 5 |
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LONDON LGBTQ+ COMMUNITY CENTRE LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2022 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Certified Accountants |
62-66 Deansgate |
Manchester |
M3 2EN |
LONDON LGBTQ+ COMMUNITY CENTRE LIMITED (REGISTERED NUMBER: 12252776) |
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REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 30 APRIL 2022 |
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The directors present their report with the financial statements of the company for the year ended 30 April 2022. |
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PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of a community centre. |
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REVIEW OF BUSINESS |
Objectives and activities |
The London LGBTQ+ Community Centre is committed to providing London with a safe, sober, permanent, intersectional, intergenerational, community centre and café where all LGBTQ+ people feel welcome and supported, can build connections, and can flourish. |
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Our vision is a connected, belonging and thriving LGBTQ+ community in London. |
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Our values are: |
Respect - Community - Intersectionality - Empowerment - Solidarity - Responsibility. |
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Achievements and performance |
In the financial year 2021-2022 we have: |
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- On-boarded our first member of staff, Project Manager, who joined the team at the beginning of April 2021 |
- Run Community Conversations as part of the Mayor's public consultation on the future of work, employment and skills in London in August 2021. Funded by the Mayor of London |
- Launched our second research project, 'A New Queer London' which delves into the way that LGBTQ+ people experience communities and spaces post-pandemic. |
- Been part of Peckham Festival in September 2021. We run a pop-up community centre with focus groups for our research project 'A New Queer London', panel talks, movie screenings and performances. |
- Opened our pilot centre in Blackfriars. A temporary space to prove our concept and raise evidence on the need for a community centre in London. |
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The pilot centre has been visited by over 1,100 people monthly. We are working with 14 local LGBTQ+ organisations, over 50 community groups and 7 other institutions. |
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Our programme of events include wellbeing, sexual health and mental health sessions; book and film clubs, talks, skills sharing a nd a myriad of activities and meet-ups organised by local grassroots organisations and groups. |
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We hired two new members of staff, Centre Manager and Assistant Manager and recruited a new pool of volunteers. |
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Financial Review |
Annual income has increased from £4,410 in FY20-21 to £44,474 in FY21-22. |
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Income has come from public funding, trading and donations including: |
- Grants: The National Lottery Awards for All |
- Grants: Lush Charity Pot |
- Trading: merchandising and ticket sales |
- Trading: Café purchases |
- Donations: Individual giving via our Friends of the Centre programme |
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Our reserves have decreased from £2,397 deficit to £41,881 deficit. This is due to the fact that the majority of the costs behind the set up of the pilot centre have been self-funded. |
LONDON LGBTQ+ COMMUNITY CENTRE LIMITED (REGISTERED NUMBER: 12252776) |
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REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 30 APRIL 2022 |
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According to our reserves policy, we aim to always have £40,000 on reserves, to cover for four months of running costs. |
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Structure, governance and management |
By the end of April 2022, the organisation's structure was the following: |
- 3 members of staff: Business Development Manager, Centre Manager and Assistant Manager |
- 7 Directors |
- 30 volunteers |
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The following additional policies have been put in place: |
- Complaints policy |
- Volunteers policy |
- Safeguarding for adults and children |
- Ethical Fundraising |
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DIRECTORS |
The directors shown below have held office during the whole of the period from 1 May 2021 to the date of this report. |
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Other changes in directors holding office are as follows: |
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This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
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ON BEHALF OF THE BOARD: |
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LONDON LGBTQ+ COMMUNITY CENTRE LIMITED (REGISTERED NUMBER: 12252776) |
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BALANCE SHEET |
30 APRIL 2022 |
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2022 | 2021 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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RESERVES |
Income and expenditure account | ( |
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( |
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The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which 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 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 company. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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LONDON LGBTQ+ COMMUNITY CENTRE LIMITED (REGISTERED NUMBER: 12252776) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2022 |
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1. | STATUTORY INFORMATION |
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London LGBTQ+ Community Centre Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. |
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Going concern |
In common with virtually every other organisation in the country, the Company has been experiencing the effects of the Coronavirus pandemic. Whilst the full impact of this exceptional situation on the Company cannot be assessed with complete certainty at the current time, the Directors believe they have taken all possible steps to protect the Company including accessing relevant Government assistance. |
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At the time of signing these accounts the Directors are of the opinion that the Company will remain viable for the foreseeable future and therefore these Financial Statements have been prepared on the Going Concern basis. |
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Income |
Income is recognised when the company has entitlement to the funds, it is probable that the income will be received and that the amount can be measured reliably. |
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Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met. |
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Grants are recognised at the fair value when there is a reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Grants related to the purchase of assets are treated as deferred income and allocated to the income statement over the useful lives of the related assets while grants related to expenses are treated as other income in the income statement. |
LONDON LGBTQ+ COMMUNITY CENTRE LIMITED (REGISTERED NUMBER: 12252776) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2022 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial statements. |
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Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
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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. |
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Basic financial assets |
Basic financial assets, which includes debtors and cash and bank balances, 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, where the transaction is measured at present value of the future receipts discounted at a market rate of interest. Financial asserts classified as receivable within one year are not amortised. |
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Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
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Basic financial liabilities |
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
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Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
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Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less, if not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
LONDON LGBTQ+ COMMUNITY CENTRE LIMITED (REGISTERED NUMBER: 12252776) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2022 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Taxation and social security |
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Other creditors |
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