Wise Thoughts - Charities report - 22.2
Wise Thoughts - Charities report - 22.2
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
| REPORT OF THE TRUSTEES AND |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
| WISE THOUGHTS |
| (A COMPANY LIMITED BY GUARANTEE) |
WISE THOUGHTS |
(A COMPANY LIMITED BY GUARANTEE) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
Page |
Report of the Trustees | 1 | to | 6 |
Independent Examiner's Report | 7 |
Statement of Financial Activities | 8 |
Statement of Financial Position | 9 | to | 10 |
Notes to the Financial Statements | 11 | to | 22 |
WISE THOUGHTS (REGISTERED NUMBER: 03758786) |
(A COMPANY LIMITED BY GUARANTEE) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2023 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the 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) (effective 1 January 2019). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
| Wise Thoughts is a pioneering arts charity that combines creative use of diverse art forms such as film, visual art. performance and delivers targeted services to help address social justice issues and needs of Lesbian, Gay, Bisexual, Transgender, Queer, Intersex + (LGBTQI+) and Black, Asian and Minority Ethnic (BAME) communities. |
| Wise Thoughts creates arts projects, develops, delivers training initiatives, and services that help to inform and raise awareness of issues related to cultural identity, ethnicity, sexual health, Human Immunodeficiency Virus/Acquired Immune Deficiency Syndrome (HIV/AIDS) and human rights. Each initiative is defined by the nature of each issue, the needs of target communities, available resources and uses diverse art forms, including South Asian arts. |
| The objectives of the charity are (extracted from the Memorandum and Articles of Association): |
| 1. To promote principally issue-based Arts from marginalised communities for the benefit of the inhabitants of UK and elsewhere. |
| 2. Developing public appreciation of Arts and by improving public access to, and the quality of the arts. |
| 3. Promotion of HIV/AIDS issues through the medium of arts and in particular (but without prejudice to generality of the foregoing) the Company shall seek to bring forth issues related to HIV/AIDS and diverse sexual, cultural and ethnic identities through its creative expressions. |
| These objectives are achieved by implementing the following policies: |
| 1. To improve standards of practice and appreciation of Arts through the development and delivery of arts projects and arts training that includes arts from marginalised communities. |
| 2. To promote, advance, encourage and assist in the practice, presentation, and study of arts from marginalised communities. |
| 3. To provide peer/social support, information, advice and guidance services for LGBTQI+ people . |
| 3. To promote, advance, encourage and assist in the practice, presentation and study of arts from marginalised communities. |
| 4. To bring forth issues related to HIV/AIDS and diverse sexual, cultural, and ethnic identities through the provision of information, guidance, outreach, and consultation services. |
| 5. To bring together and co-operate the efforts of local authorities, bodies, organisations, societies, and individuals concerned or interested in attainment of all or any of the objects of the Charity. |
| 6. To commission, arrange, prepare, print, publish, issue, and disseminate any programme, pamphlet, book, documents, film, recording or other artistic work and fix, make and receive fees, royalties, and other charges therefore and for admission to and otherwise in respect of any exhibition performance or display. |
WISE THOUGHTS (REGISTERED NUMBER: 03758786) |
(A COMPANY LIMITED BY GUARANTEE) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2023 |
OBJECTIVES AND ACTIVITIES |
Significant activities |
| Significant Activities delivered under Wise Thoughts arts programme included: |
| 1. Commissioning artists to create new works that are showcased on the organisation's website site, YouTube and other social media channels. |
| 2. Working in partnership with other UK and India based organisations to conduct initial research and development for three new multimedia arts projects and deliver arts workshops outside London. |
| 3. Artists talks, performances and readings as a part of the weekly drop-in's and during South Asian Heritage, Black and LGBTQI+ History Months. |
| 4. South Asian dance and visual arts workshops in East Anglia region as a part of our expansion programme. |
| 5. South Asian dance workshops for young people in Haringey in partnership with Haringey Youth Services. |
| Activities delivered under the Wise Thoughts health and wellbeing programme included: |
| 1. LGBTQI+ meetups #gayWISE and #womxnWISE held online and onsite post the lifting of restrictions. |
| 2. Weekly yoga and dance sessions to support both physical and mental wellbeing of both existing and new service users. |
| 3. #PositiveRainbowHaringey - a peer support and advice service for HIV+ gay, bisexual and Men who have Sex with Men (MSM) and their partners. Advice and 1-2-1 support were offered via a weekly health stall, telephone and online. |
| 4. Consultation - providing advice on inclusion of LGBTQI+/ BAME communities processes for both local and regional authorities. |
| 5. Provided temporary freelance employment opportunities for unemployed people to help develop and deliver new initiatives. |
| 6. Delivered yoga sessions for young people. at Rising Green youth Hub as part of the summer activities programme for London Borough of Haringey. |
| Our annual report offers a comprehensive description of the services and activities offered by Wise Thoughts. |
Volunteers |
| The value of services provided by volunteers is not incorporated in these financial statements. However, payments are made to cover the volunteers' actual expenses which are included in the financial statements. |
WISE THOUGHTS (REGISTERED NUMBER: 03758786) |
(A COMPANY LIMITED BY GUARANTEE) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2023 |
FINANCIAL REVIEW |
Principal funding sources |
| The future of Wise Thoughts services is dependent on continued support from statutory sources and income from grants and donations, which are essential for the maintenance and expansion of services to meet the increasing demand. |
| Wise Thoughts provides essential services and develops unique arts and training projects that help to profile/meet the needs of marginalised individuals and is supported in part by Local Authority and The National Lottery Community Fund. Over the reporting year we have been successful in bringing in additional funding, however we are aware that funding may become an issue in future years, and we need to monitor this. Wise Thoughts has to continually look for funding from other organisations, charitable and corporate bodies and individual donors. |
| In the year under review new funding was received from Community Fund, Haringey Council, other organisations and donors. |
Reserves policy and Investment powers |
| The Board of Trustees is responsible for deciding how to invest the Charity's reserves. The appropriate level of reserves is established through an annual review of the Charity's requirements and stated in the financial report. The Treasurer is responsible for proposing to the Board the balance of cash on deposit and investments, and acts on the Board's instructions. |
Going concern |
The accounts have been prepared on a going concern basis. |
Review of transactions, financial performance and funds |
As shown in the Statement of Financial Activities (page 9) total income for the year to 31 March 2023 amounted to £158,218 (2022 - £201,790) and expenditure in the furtherance of charitable activities totalled £104,343 (2022 - £194,298). Again, in a very difficult climate for fundraising due to huge efforts from the management and the high quality of the services, Wise Thoughts was able to attract sufficient income to cover the running costs which resulted in a Net resources surplus of £53,875 (2022 - £7,492). |
Awards totalling £Nil (2022 - £91,519) received in advance towards the project costs have been carried forward under Accruals and deferred income. |
The CEO/Artistic director and his team control all costs rigorously. The services are much admired and viewed as important models to emulate, however in these financially challenging times it is extremely difficult to attract necessary funding. The Trustees are addressing the strategic planning essential for the provision of services within the framework of the anticipated funding. |
The future of Wise Thoughts services is dependent on continued support from statutory sources and income from grants and donations, which are vital for the maintenance and expansion of services to meet the increasing demand. |
Wise Thoughts provides essential services and develops unique arts and training projects that help to profile/meet the needs of marginalised individuals and was supported in part by Local Authority funding. There has been an increase in demand for projects, services and core costs that considerably outweighs the level of funding currently available. |
In this very challenging climate, Wise Thoughts is pleased to have had support from London Borough of Haringey, The National Lottery Community Fund and other charitable bodies and individual donors. |
Total net assets of the charity as at 31 March 2023 were £100,970 (2022 - £47,095). Income received for the year for specific purposes was spent as necessary and unspent balance is carried forward to be utilised next year. |
In providing day to day services, the Trustees are mindful of the charity's duty to comply with section 4 of the Charities Act 2006 to have due regard to public benefit guidance published by the Commission. |
WISE THOUGHTS (REGISTERED NUMBER: 03758786) |
(A COMPANY LIMITED BY GUARANTEE) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2023 |
FUTURE PLANS |
In light of the current economical climate and the impact from COVID-19 on the programme, the organisation continues to review its business plan/operational model to help it ensure sustainability and will make any changes needed. It remains committed to supporting the primary beneficiaries of our activities and services (LGBTQI+/BAME people) and will aim to continue delivery of a programme of key activities and associated services. |
The organisation plans to continue working strategically at a Borough level, with the Council and other agencies to help achieve our objectives. The current economic climate and reduction in funding available from both statutory and other sources, has had an impact on all small voluntary organisations and will lead to the re-evaluation of any proposed new services by the organisation. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
Recruitment and Appointment of new trustees |
| Every person who wishes to be a Member and a trustee as such, shall deliver to the Company an application for membership in such form as the Directors require executed by that person. |
| At the next meeting of the Directors after the receipt of any application for membership, the application shall be considered by the Directors who shall decide upon the admission or rejection of the applicant. |
Organisational structure |
| Wise Thoughts has a Management Committee of up to eight members who meet regularly and are responsible for strategic direction and policy of the charity. The committee members are from a variety of backgrounds relevant to the work of the charity. The committee is made up of the trustees, two contracted members - CEO/Artistic Director and the Programme Manager. |
| A scheme of delegation is in place and day to day responsibility for the provision of services rest with the trustees along with the CEO/Artistic Director and the Programme Manager. The trustees are responsible for ensuring that the charity delivers the services specified and that key performance indicators are met. The Artistic Director has responsibility for the day-to-day operational management of the charity, individual supervision of contracted members and ensuring that the team continues to develop their skills and working practices in line with good practice. |
Induction and training of new trustees |
| New trustees receive a comprehensive induction package, with information covering the duties of a trustee, a trustee job description and service agreement, an outline of the vision, mission and implementation of the charity's services, the latest Report and Accounts, current year's budget and latest management accounts. |
| All trustees are invited to familiarise themselves with the operations of Wise Thoughts by meeting the CEO/Artistic Director and staff at a weekly Team meeting that reviews service delivery and by appointment when appropriate. Trustees are encouraged to make use of the training and conference opportunities provided by the National Council of Voluntary Organisations (NVCO) and other bodies. |
PARTNERSHIPS AND CO-OPERATION WITH OTHER CHARITIES AND ORGANISATIONS |
| Wise Thoughts is committed to working in partnership with organisations that help to benefit the aims and objectives of the organisation and its programme of work, it has collaborated with other statutory and voluntary organisations in the development and presentation of individual projects that have included arts festivals, conferences, and training initiatives within the past year. Staff regularly attend meetings, forums, seminars, and consultative processes co-ordinated by local, regional and national government and other community and voluntary organisations. They serve as independent advisors to the local authority and Metropolitan Police Services on policy development, implementation and other matters related to the primary beneficiaries of the organisation and its programme of work. They serve as community lead on the LGBT+ Community Network initiated by Haringey Council. |
WISE THOUGHTS (REGISTERED NUMBER: 03758786) |
(A COMPANY LIMITED BY GUARANTEE) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2023 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Risk management |
| The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Mr Tim Hoyle - Treasurer |
Company Secretary |
Independent Examiner |
Mr Michael Filiou |
Michael Filiou Ltd |
Chartered Certified Accountants |
www.michaelfiliou.com |
Salisbury House |
81 High Street |
Potters Bar |
Hertfordshire |
EN6 5AS |
Bankers |
The Co-operative Bank Plc |
Business Direct |
P O Box 250 |
Skelmerdale |
WN8 6WT |
WISE THOUGHTS (REGISTERED NUMBER: 03758786) |
(A COMPANY LIMITED BY GUARANTEE) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2023 |
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. |
Approved by order of the board of trustees on |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
WISE THOUGHTS |
Independent examiner's report to the trustees of Wise Thoughts ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2023. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its 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 independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. |
Mr Michael Filiou |
Michael Filiou Ltd |
Chartered Certified Accountants |
www.michaelfiliou.com |
Salisbury House |
81 High Street |
Potters Bar |
Hertfordshire |
EN6 5AS |
29 September 2023 |
WISE THOUGHTS |
(A COMPANY LIMITED BY GUARANTEE) |
STATEMENT OF FINANCIAL ACTIVITIES |
FOR THE YEAR ENDED 31 MARCH 2023 |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
Other activities income | 3 |
Investment income | 4 |
Total |
EXPENDITURE ON |
Charitable activities |
Gross salary | - | - | - | 45,772 |
Project costs | - | 9,387 | 9,387 | 131,718 |
Charitable activities | 3,496 | - | 3,496 | - |
Employer's NI | - | - | - | 275 |
Rent | 6,250 |
Travel and subsistence | 355 | - | 355 | - |
Telephone | 636 | - | 636 | 372 |
Insurance | 444 | - | 444 | 448 |
Sundry expenses | - | - | - | 212 |
Depreciation | 611 | - | 611 | 704 |
Professional services | 35 | - | 35 | 450 |
Subscriptions | 396 | - | 396 | - |
Accountancy fees | 3,480 | - | 3,480 | 3,240 |
Creative Cultural Hub | - | 75,393 | 75,393 | - |
Training costs | 25 | 2,585 | 2,610 | 2,550 |
Employer pension | - | - | - | 1,057 |
Total |
NET INCOME/(EXPENDITURE) | ( | ) |
Transfers between funds | 11 | 5,108 | (5,108 | ) | - | - |
Net movement in funds | ( | ) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 47,095 |
WISE THOUGHTS (REGISTERED NUMBER: 03758786) |
(A COMPANY LIMITED BY GUARANTEE) |
STATEMENT OF FINANCIAL POSITION |
31 MARCH 2023 |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 9 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 10 | ( | ) | ( | ) | ( | ) | ( | ) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 11 |
Unrestricted funds | 26,005 |
Restricted funds | 21,090 |
TOTAL FUNDS | 47,095 |
| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006. |
| The trustees acknowledge their responsibilities for |
| (a) | ensuring that the charitable company keeps accounting records that 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 charitable 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 charitable company. |
WISE THOUGHTS (REGISTERED NUMBER: 03758786) |
(A COMPANY LIMITED BY GUARANTEE) |
STATEMENT OF FINANCIAL POSITION - continued |
31 MARCH 2023 |
These financial statements have been prepared in accordance with and delivered in accordance with the special provisions applicable to small charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
WISE THOUGHTS |
(A COMPANY LIMITED BY GUARANTEE) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
The accounts have been prepared on the going concern basis. |
The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland': |
• | the requirements of Section 7 Statement of Cash Flows. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received, and the amount can be measured reliably. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources. |
Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
Taxation |
| As a charity, Wise Thoughts is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity. |
Fund accounting |
| Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
| Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
| Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
WISE THOUGHTS |
(A COMPANY LIMITED BY GUARANTEE) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
2. | DONATIONS AND LEGACIES |
2023 | 2022 |
£ | £ |
Voluntary grants income |
Donations |
Grants |
Subsidy towards rent | 11,250 | 2,500 |
Grants received, included in the above, are as follows: |
2023 | 2022 |
£ | £ |
Other grants | 22,451 | 72,149 |
Grants receivable - Basis of valuation |
Grants are recorded as receivable at the monetary value which has been agreed and only when all the conditions in relation to the receipt of the grant have been met. |
3. | OTHER ACTIVITIES INCOME |
2023 | 2022 |
£ | £ |
Other fees receivable | 750 | 15,650 |
4. | INVESTMENT INCOME |
2023 | 2022 |
£ | £ |
Deposit account interest |
5. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2023 | 2022 |
£ | £ |
Depreciation - owned assets |
WISE THOUGHTS |
(A COMPANY LIMITED BY GUARANTEE) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
6. | TRUSTEES' REMUNERATION AND BENEFITS |
| There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022. |
Trustees' expenses |
| There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022. |
Trustees' expenses comprise of out-of-pocket expenses reimbursed to the trustees. |
7. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
2023 | 2022 |
Full time |
8. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other activities income |
Investment income |
Total |
EXPENDITURE ON |
Charitable activities |
Gross salary | - | 45,772 | 45,772 |
Project costs | - | 131,718 | 131,718 |
Employer's NI | - | 275 | 275 |
Rent |
Telephone | 372 | - | 372 |
Insurance | 448 | - | 448 |
Sundry expenses | 212 | - | 212 |
Depreciation | 704 | - | 704 |
Professional services | 450 | - | 450 |
Accountancy fees | 3,240 | - | 3,240 |
Training costs | - | 2,550 | 2,550 |
Employer pension | - | 1,057 | 1,057 |
Total |
NET INCOME |
WISE THOUGHTS |
(A COMPANY LIMITED BY GUARANTEE) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
8. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
RECONCILIATION OF FUNDS |
Total funds brought forward | 22,169 | 17,434 |
TOTAL FUNDS CARRIED FORWARD | 26,005 | 21,090 | 47,095 |
9. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2022 and 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
| All of the charity's tangible fixed assets are used directly for its objectives. |
WISE THOUGHTS |
(A COMPANY LIMITED BY GUARANTEE) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Accruals and deferred income |
WISE THOUGHTS |
(A COMPANY LIMITED BY GUARANTEE) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
11. | MOVEMENT IN FUNDS |
Net | Transfers |
movement | between | At |
At 1.4.22 | in funds | funds | 31.3.23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 10,132 | (8,682 | ) | 5,108 | 6,558 |
Haringey Council | 75 | 731 | - | 806 |
Arts Council of England | 6,146 | - | - | 6,146 |
Donations | 4,471 | - | - | 4,471 |
Interest received | 106 | - | - | 106 |
Other income | 1,050 | 750 | - | 1,800 |
LGBT Consortium - Fees earned | 25 | - | - | 25 |
Haringey - VCS Autumn | 3,000 | - | - | 3,000 |
Charity Trust | 1,000 | - | - | 1,000 |
(7,201 | ) |
Restricted funds |
Arts Council Managed Funds-Gaywise LGBT arts festival | - | 32,091 | - | 32,091 |
Other donations | 1,447 | - | - | 1,447 |
Haringey CCCF Core | 6,645 | - | - | 6,645 |
The National Lottery Community Fund | 4,847 | 12,840 | - | 17,687 |
Haringey Council | (3,345 | ) | - | - | (3,345 | ) |
John Lyon's Foundation | 504 | - | - | 504 |
Bridge Renewal Trust | 3,699 | - | - | 3,699 |
London Sport Ltd Sportivate | (90 | ) | 2,920 | - | 2,830 |
The London Community Foundation | 3,814 | 17,530 | - | 21,344 |
Merkel Insurance | 1,183 | - | - | 1,183 |
Neighbourly Ltd | 300 | - | - | 300 |
Homes for Haringey | 4,050 | - | - | 4,050 |
Creative Cultural Hub | (1,061 | ) | 2,632 | - | 1,571 |
Emerging with Pride | - | 17,000 | - | 17,000 |
Jackson's Lane | 970 | - | - | 970 |
Public Voice | 1 | 19,134 | (1,914 | ) | 17,221 |
Arts Council of England - Organisation Development / ACTivate Our Future | - | - | (28,123 | ) | (28,123 | ) |
LGBT Consortium - Emerging With Pride | 33 | 10,000 | (29,600 | ) | (19,567 | ) |
Haringey - Winter and Youthwise | (3,201 | ) | (57,328 | ) | 54,529 | (6,000 | ) |
City of London WAVE 3 - WISEfriends | 94 | - | - | 94 |
Sports England - Lunchtime Yoga | 1,200 | - | - | 1,200 |
City Bridge Trust - COVID-19 | - | 4,257 | - | 4,257 |
61,076 | ( | ) |
TOTAL FUNDS | 53,875 | 100,970 |
WISE THOUGHTS |
(A COMPANY LIMITED BY GUARANTEE) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
11. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 2,047 | (10,729 | ) | (8,682 | ) |
Haringey Council | 730 | 1 | 731 |
Other income | 750 | - | 750 |
( | ) | (7,201 | ) |
Restricted funds |
Arts Council Managed Funds-Gaywise LGBT arts festival | 15,863 | 16,228 | 32,091 |
The National Lottery Community Fund | 88,520 | (75,680 | ) | 12,840 |
Haringey Council | 6,250 | (6,250 | ) | - |
London Sport Ltd Sportivate | 2,920 | - | 2,920 |
The London Community Foundation | 2,530 | 15,000 | 17,530 |
Creative Cultural Hub | 2,632 | - | 2,632 |
Emerging with Pride | - | 17,000 | 17,000 |
Public Voice | 21,719 | (2,585 | ) | 19,134 |
LGBT Consortium - Emerging With Pride | 10,000 | - | 10,000 |
Haringey - Winter and Youthwise | - | (57,328 | ) | (57,328 | ) |
City Bridge Trust - COVID-19 | 4,257 | - | 4,257 |
( | ) | 61,076 |
TOTAL FUNDS | ( | ) | 53,875 |
WISE THOUGHTS |
(A COMPANY LIMITED BY GUARANTEE) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
11. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net |
movement | At |
At 1.4.21 | in funds | 31.3.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 8,346 | 1,786 | 10,132 |
Haringey Council | 75 | - | 75 |
Arts Council of England | 6,146 | - | 6,146 |
Donations | 4,471 | - | 4,471 |
Interest received | 106 | - | 106 |
Other income | - | 1,050 | 1,050 |
LGBT Consortium - Fees earned | 25 | - | 25 |
Haringey - VCS Autumn | 3,000 | - | 3,000 |
Charity Trust | - | 1,000 | 1,000 |
22,169 | 3,836 | 26,005 |
Restricted funds |
Other donations | 1,447 | - | 1,447 |
Haringey CCCF Core | 4,884 | 1,761 | 6,645 |
The National Lottery Community Fund | 4,847 | - | 4,847 |
Haringey Council | (279 | ) | (3,066 | ) | (3,345 | ) |
John Lyon's Foundation | 504 | - | 504 |
Bridge Renewal Trust | 3,699 | - | 3,699 |
London Sport Ltd Sportivate | (90 | ) | - | (90 | ) |
The London Community Foundation | 1,071 | 2,743 | 3,814 |
Merkel Insurance | 1,183 | - | 1,183 |
Neighbourly Ltd | 300 | - | 300 |
Homes for Haringey | - | 4,050 | 4,050 |
Creative Cultural Hub | (3,429 | ) | 2,368 | (1,061 | ) |
Jackson's Lane | 970 | - | 970 |
Public Voice | - | 1 | 1 |
LGBT Consortium - Emerging With Pride | 33 | - | 33 |
Haringey - Winter and Youthwise | 1,000 | (4,201 | ) | (3,201 | ) |
City of London WAVE 3 - WISEfriends | 94 | - | 94 |
Sports England - Lunchtime Yoga | 1,200 | - | 1,200 |
17,434 | 3,656 | 21,090 |
TOTAL FUNDS | 39,603 | 7,492 | 47,095 |
WISE THOUGHTS |
(A COMPANY LIMITED BY GUARANTEE) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
11. | MOVEMENT IN FUNDS - continued |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 7,212 | (5,426 | ) | 1,786 |
Other income | 1,050 | - | 1,050 |
Charity Trust | 1,000 | - | 1,000 |
9,262 | (5,426 | ) | 3,836 |
Restricted funds |
Haringey CCCF Core | 19,999 | (18,238 | ) | 1,761 |
The National Lottery Community Fund | 69,714 | (69,714 | ) | - |
Haringey Council | 27,200 | (30,266 | ) | (3,066 | ) |
The London Community Foundation | 3,600 | (857 | ) | 2,743 |
Homes for Haringey | 4,050 | - | 4,050 |
Creative Cultural Hub | - | 2,368 | 2,368 |
Public Voice | 49,550 | (49,549 | ) | 1 |
Haringey - Winter and Youthwise | - | (4,201 | ) | (4,201 | ) |
City of London WAVE 3 - WISEfriends | 9,300 | (9,300 | ) | - |
City of London - WAVE 4 - ACTivate Our Future | 9,115 | (9,115 | ) | - |
192,528 | (188,872 | ) | 3,656 |
TOTAL FUNDS | 201,790 | (194,298 | ) | 7,492 |
WISE THOUGHTS |
(A COMPANY LIMITED BY GUARANTEE) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
11. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined position is as follows: |
Net | Transfers |
movement | between | At |
At 1.4.21 | in funds | funds | 31.3.23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 8,346 | (6,896 | ) | 5,108 | 6,558 |
Haringey Council | 75 | 731 | - | 806 |
Arts Council of England | 6,146 | - | - | 6,146 |
Donations | 4,471 | - | - | 4,471 |
Interest received | 106 | - | - | 106 |
Other income | - | 1,800 | - | 1,800 |
LGBT Consortium - Fees earned | 25 | - | - | 25 |
Haringey - VCS Autumn | 3,000 | - | - | 3,000 |
Charity Trust | - | 1,000 | - | 1,000 |
22,169 | (3,365 | ) | 5,108 | 23,912 |
Restricted funds |
Arts Council Managed Funds-Gaywise LGBT arts festival | - | 32,091 | - | 32,091 |
Other donations | 1,447 | - | - | 1,447 |
Haringey CCCF Core | 4,884 | 1,761 | - | 6,645 |
The National Lottery Community Fund | 4,847 | 12,840 | - | 17,687 |
Haringey Council | (279 | ) | (3,066 | ) | - | (3,345 | ) |
John Lyon's Foundation | 504 | - | - | 504 |
Bridge Renewal Trust | 3,699 | - | - | 3,699 |
London Sport Ltd Sportivate | (90 | ) | 2,920 | - | 2,830 |
The London Community Foundation | 1,071 | 20,273 | - | 21,344 |
Merkel Insurance | 1,183 | - | - | 1,183 |
Neighbourly Ltd | 300 | - | - | 300 |
Homes for Haringey | - | 4,050 | - | 4,050 |
Creative Cultural Hub | (3,429 | ) | 5,000 | - | 1,571 |
Emerging with Pride | - | 17,000 | - | 17,000 |
Jackson's Lane | 970 | - | - | 970 |
Public Voice | - | 19,135 | (1,914 | ) | 17,221 |
Arts Council of England - Organisation Development / ACTivate Our Future | - | - | (28,123 | ) | (28,123 | ) |
LGBT Consortium - Emerging With Pride | 33 | 10,000 | (29,600 | ) | (19,567 | ) |
Haringey - Winter and Youthwise | 1,000 | (61,529 | ) | 54,529 | (6,000 | ) |
City of London WAVE 3 - WISEfriends | 94 | - | - | 94 |
Sports England - Lunchtime Yoga | 1,200 | - | - | 1,200 |
City Bridge Trust - COVID-19 | - | 4,257 | - | 4,257 |
17,434 | 64,732 | (5,108 | ) | 77,058 |
TOTAL FUNDS | 39,603 | 61,367 | - | 100,970 |
WISE THOUGHTS |
(A COMPANY LIMITED BY GUARANTEE) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
11. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 9,259 | (16,155 | ) | (6,896 | ) |
Haringey Council | 730 | 1 | 731 |
Other income | 1,800 | - | 1,800 |
Charity Trust | 1,000 | - | 1,000 |
12,789 | (16,154 | ) | (3,365 | ) |
Restricted funds |
Arts Council Managed Funds-Gaywise LGBT arts festival | 15,863 | 16,228 | 32,091 |
Haringey CCCF Core | 19,999 | (18,238 | ) | 1,761 |
The National Lottery Community Fund | 158,234 | (145,394 | ) | 12,840 |
Haringey Council | 33,450 | (36,516 | ) | (3,066 | ) |
London Sport Ltd Sportivate | 2,920 | - | 2,920 |
The London Community Foundation | 6,130 | 14,143 | 20,273 |
Homes for Haringey | 4,050 | - | 4,050 |
Creative Cultural Hub | 2,632 | 2,368 | 5,000 |
Emerging with Pride | - | 17,000 | 17,000 |
Public Voice | 71,269 | (52,134 | ) | 19,135 |
LGBT Consortium - Emerging With Pride | 10,000 | - | 10,000 |
Haringey - Winter and Youthwise | - | (61,529 | ) | (61,529 | ) |
City of London WAVE 3 - WISEfriends | 9,300 | (9,300 | ) | - |
City of London - WAVE 4 - ACTivate Our Future | 9,115 | (9,115 | ) | - |
City Bridge Trust - COVID-19 | 4,257 | - | 4,257 |
347,219 | (282,487 | ) | 64,732 |
TOTAL FUNDS | 360,008 | (298,641 | ) | 61,367 |
WISE THOUGHTS |
(A COMPANY LIMITED BY GUARANTEE) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
12. | RELATED PARTY DISCLOSURES |
13. | LEGAL STATUS OF THE CHARITY |
The Charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1. |