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2021-03-31-accounts

STUDIO UPSTZSIRS Years Leading Creative Recovery ANNUAL REPORT & ACCOUNTS 2021

STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2021

____________________

CONTENTS

WELCOME TO OUR ANNUAL REPORT .................................................................. 4 OBJECTIVES AND ACTIVITIES OF THE CHARITY ................................................. 5 OUR IMPACT ............................................................................................................. 8 FINANCIAL AND BUSINESS REVIEW .................................................................... 15 INDEPENDENT EXAMINER'S REPORT ................................................................. 17 FINANCIAL STATEMENTS ..................................................................................... 18 NOTES TO THE FINANCIAL STATEMENTS .......................................................... 20

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STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2021

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Charity Name Studio Upstairs Company Registration Number 32324178 (Incorporated 6 August 1996) Charity Registration Number 1058590 (Registered 10 October 1996)


Company Registration Number
Charity Registration Number
32324178 (Incorporated 6 August 1
1058590 (Registered 10 October 19
Website address www.studioupstairs.org.uk
Registered Office& Operational 1A Drummond Road
Address 1 London, CR0 1TT
Unit E3
Address 2 Dalston Culture House
3 Bradbury Street
London, N16 8JN
Address 3 Units 1&2, Albion Dockside Estate
Hanover Place
Bristol, BS1 6UT
Patron Leo Burley
Directors and Trustees Mr Keith Miller (Chair)
Mr Alex Holmes
Mrs Pernilla Rosendahl
Managing Director Mrs Zlatinka Hristova
Company Secretary
Accountants Shorish Barzinji & Co Ltd
108 High Street
Croydon, CR0 1ND
Independent Examiner Mr Nabeel Qureshi
TAXACCOLEGA
Chartered Management Accountants
187A London Road
Croydon, CR0 2RJ
Bankers NatWest Bank PLC
15-17 Hampstead Road
London, NW1 3DW
Santander UK PLC
2 Triton Square
Regent's Place
London, NW1 3AN
Twitter twitter.com/Studio_Upstairs
Facebook www.facebook.com/StudioUpstairs
Instagram www.instagram.com/studioupstairs

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STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2021

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WELCOME TO OUR ANNUAL REPORT!

We all felt the challenge of the worldwide pandemic. We witnessed how it created unprecedented levels of demand for support and how it affected the most vulnerable in our society.

Mental health was already a big issue and now it has become an even more pressing need as a result of the increased social isolation. As the NHS and social services are struggling to meet the growing need for mental health support, the role of charities is becoming more important than ever.

Studio Upstairs, yet again, stepped up and continued to demonstrate dedication, flexibility and remarkable resilience in the face of adversity. During the year we worked relentlessly to adapt our work plan and have grown the range and volume of our services. We excelled in acquiring emergency funding to continue to be here for our beneficiaries.

Studio Upstairs is strongly committed to helping as many people as possible to access affordable mental health provision in good time.

With new technology and socially distanced experiences in mind, we designed and delivered services for a new online world.

Despite the fact that we had to endure periods of studio closures, at the very start of the

lockdown, we immediately and effectively transitioned our services to remote provision. This included video conferencing, online workshops, phone support and collaborative publications.

For meetings in person, we created new smaller groups in all our studios, so more people can safely get the help they need when they need it. The Studio offered new personalized (one to one) therapeutic and creative advice sessions in addition to the regular groups.

As a result of our efforts, we are very proud to announce that Studio Upstairs received an award for innovation in social prescribing.

The Studio Inside Art Box is another innovative step for our charity – entirely conceived and developed by our team.

Most important of all, our beneficiaries were extremely positive and grateful for the new ways of support we have developed during these trying times.

We are immensely proud of our achievements and would like to thank our funders, donors, supporters and our team and volunteers for their incredible dedication. An enormous amount of gratitude is due to all! THANK YOU!

Keith Miller Zlatinka Hristova

Chair of the Board of Trustees Managing Director

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STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2021

____________________ OBJECTIVES AND ACTIVITIES OF THE CHARITY

Studio Upstairs’ charitable objects are to promote, maintain, improve and advance public education and to preserve and protect health.

In setting the aims and activities the Trustees have taken due regard to the Charity Commission guidance on public benefit; believe that it delivers public benefit and have testimonials to support that belief.

Our Vision

A world in which everyone can transform their life through a creative community.

Our studios offer specialist visual arts provision for new and existing participants. Across the week, we work with adults with complex needs including those with multiple disabilities.

Our Mission

To provide positive, life-changing interventions for people with mental or emotional difficulties within an artistic therapeutic community.

The ambition of the charity is to create a network of sustainable, safe, local studios available to all who need them, as and when they need them.

Aims

The activities and ethos of Studio Upstairs are trauma informed and focus on the possibilities - away from peoples' impairments and towards removing the barriers to inclusion that disabled people face in everyday life. For most of our members Studio Upstairs is their family and with that comes all levels of support - from emotional and artistic to practical.

Artist have access to a wide range of professional media and creative processes including painting, drawing, printmaking, animation, photography collage, sculpture, photography, writing and performance.

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STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2021

____________________ ORGANISATION OF THE CHARITY

GOVERNANCE

Studio Upstairs is a registered charity and a company limited by guarantee without share capital. It is governed by its Memorandum and Articles of Association.

The directors of the charitable company are also its trustees for the purpose of charity law and throughout this report are collectively referred to as the Trustees.

The Trustees have referred to the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning its future activities.

The Trustees meet regularly to review the activity and the strategic direction of the charity. They have delegated the day-to-day management of the charitable company to the Managing Director.

“Studio Upstairs, whether it’s in person or in zoom time is my safe creative family where I have experimented beyond my wildest dreams artistically and slowly built-up trust and friendship with the group.”

Studio Upstairs operates within a Business Plan which is agreed by the Board prior to the start of each financial year. The Operational Plan lists actions, targets, deadlines and responsibilities of individual team members. All policies are reviewed annually.

The delivery teams compile statistics on performance against the targets. The reports form the basis of quarterly operational reports which are presented and discussed at Board meetings.

The beneficiaries take an active role in the planning and running of the activities through monthly forums and representation at team meetings. They can use the shared studio throughout the day and are involved in the delivery of projects, exhibitions, performances and organised visits to galleries or museums.

“I’ve been disabled by physical and emotional ill health, but Studio Upstairs has given me the opportunity to challenge myself. All I have to do is get there, which might be quite difficult, but then the magic starts to happen!”

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STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2021

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Studio sessions provide the time and space for members to work and to explore their own potential as artists. Artists/makers work together with Studio Managers in purposeful collaboration.

Each session meets the varied needs of the people in the studio, and all of our work is characterised by a personalised approach that facilitates choice in the creative practice.

The activities are facilitated by teams of artists (Studio Managers) who are also trained art /drama psychotherapists. However, the studio is a place where events and happenings unfold and reveal the lived experience and qualities of all those involved.

The team is supported by clinical supervisors and complemented by volunteers, students on training placements and visiting artists.

It’s a very consistent means of support. I can attend however I am, which is very important for me because so much else is dependent on how I am feeling whether I can connect with other people. I can come regardless of how I’m feeling, even if I’m all over the place which is amazing. I always get something from it.”

RISK MANAGEMENT

The Trustees have conducted a review of the major risks to which the charitable company is exposed, and systems have been established to mitigate those risks. External risks to funding have led to the development of a strategic plan for change which will allow for the diversification of income streams, a review of the reserve funds and the organisational structure. Internal financial risks are minimised by the implementation of procedures for appropriate authorisation and monitoring of transactions. Projects are carefully planned to ensure consistent quality of delivery for all operational aspects of the charitable company.

TRUSTEE SELECTION AND TRAINING

As set out in the Studio Upstairs Articles of Association, the Trustees have the power to appoint additional Trustees.

Trustees are selected through open recruitment after regular skills audit.

The new Trustees are elected by a majority vote of the existing Trustees. They are familiarised with their responsibilities through an induction process.

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STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2021

____________________ OUR IMPACT

SUPPORTING PEOPLES HEALTH & WELLBEING THROUGH ART

Our impact is evidenced through the ever-greater number of people becoming involved with the Studio as supporters, volunteers, members or attending our public events. This engagement with the community and the creative process encourages specialist skill development and transferrable skills such as planning, decision-making and problem solving.

Our artist/makers come to the studio for the same sessions each week, building a community of peers and collaborators. We have proven record of engaging and sustaining the attendance of those who are often difficult to retain and involve.

Our members continue to report that the Studio is their lifeline, the stand-in family who helps to achieve autonomy, self-esteem and purpose.

Over the last year, Studio Upstairs maintained the work of three artistic therapeutic communities in London and Bristol, increased the number of total beneficiaries with 20% and delivered 31,300 hours of direct support. This included group work as well as dedicated one to one sessions under our Creative Adviser Scheme supported by the Arts Council England.

The Studio Upstairs Volunteers contributed over 7,800 hours of invaluable help to the charity to the estimated value of £72,000.

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STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2021

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Our evaluation and that of external researchers consistently demonstrate that we achieve the desired outcomes across the full spectrum for health, education and social inclusion:

The effectiveness of our work is highly valued and validated by the beneficiaries who often have not found sufficient support elsewhere. 88% of our members report reduction in stress levels, fewer episodes of crisis, decreased use of medication or mental health services as a result of studio membership.

“I feel extremely privileged to be part of Studio Upstairs.

It offers me many things which I struggle to find elsewhere: inclusion, encouragement, friendships, nonjudgmental acceptance, a sense of belonging and hope, along with the space to develop my creativity. This creativity provides meaning where previously there was none.

I also receive excellent support from the staff and am being enabled to deal with

some very difficult issues that have up until now defied many years of attempts to move forward using both conventional and alternative therapeutic means. To me this is priceless.

I really, really value and appreciate all the hard work that goes on at Studio Upstairs. On a personal level I know the loss of Studio Upstairs would leave a large and painful gap that experience tells me would be very difficult to fill.”

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STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2021

As further confirmation of the quality and value of our wok, and as a result of our continued strive for ____________________ innovation, this year we received an award from MCVS (Merton).

REACHING OUT AND CHALLENGING STIGMA

Studio Upstairs links the running of the Art Studio with an aim towards dismantling the stigma of mental distress. The team regularly works in partnerships with a broad range of organisations to maximise reach and impact. Through our social media channels and newsletters we are reaching out and continue to promote positive mental health in the wider community. We organized online exhibitions and collaboratively produced magazines to stay connected and showcase the talent of our members. Here are some of the highlights:

During the Creativity and Wellbeing Week, 18th - 24th May we organised an online exhibition “How does it Feel? ” about the shared lockdown experiences.

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STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2021

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South Croydon Station Project

The rail company GTR approached Studio Upstairs, inviting us to help improve the look and feel of South Croydon Station. Our artists, all members of Studio Upstairs, responded to the call for artworks that would comfort, inspire, and connect with people passing through the busy suburban station.

As a result, an abundance of artworks has appeared in waiting rooms, along platforms and railings at South Croydon station. The art trail of images includes striking large-scale posters, intimate and reflective pieces, art with a tonguein-cheek message, plus a cosmos of colourful bubble-shaped stickers .

In the Spring we worked collaboratively across all studios to create the Studio Upstairs Magazine. The first issue was titled Art and Connection and featured artwork, poetry, information about artistic resources and provided much needed mutual support in the lockdown times of social disconnection.

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STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2021

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Our next Magazine featured an interview with our patron, message from the Chair, artwork and writing by members, team and volunteers. It also promoted the new online workshops and expressed our support for the Black Lives Matter movement.

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STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2021

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In the Summer, the SU magazine grew even bigger with many more contributions from the team and members, interviews and reflections on recent community events.

Studio Inside: Art & Wellbeing Box

The SU team developed a new idea for reaching out even further in the wider community – the project Studio Inside.

It is conceived as a series of creativity boxes which are not only helping the recipients, they are also contributing to our fundraising effort to provide access to mental health support to those on a very low income.

The first box, Printing with Light includes a mindful walk to gather inspiration and materials to create beautiful cyanotype prints .

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STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2021

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FUTURE PLANS

The global crisis has underlined the reality that the environment changes in unpredictable ways.

We have increased our capacity and resources to enable additional support, training and advocacy to meet the increase in demand for accessible and lowcost services.

Our three-year funding strategy aims to address this demand and is reviewed regularly by the senior management team.

It will continue to broaden by developing additional sources of income – we are actively seeking longer-term grants to provide organisational stability. We closely monitor our financial performance and remain open to new funding opportunities and new corporate responsibility relationships to mitigate risk and reduce our reliance on grant funding.

Our three-year business plan sets out our agenda and programme plan.

The Studio Upstairs strategic focus is on the following areas:

CREATE : deep engagement with meaningful and impactful activities, holistically linking the arts with education and social care

BELONG : connect people with each other and with the wider community to tackle isolation and improve life chances

GROW: the national awareness of our pioneering work and its reach in supporting personal growth and dismantling stigma around neurodiversity

In 2021/22 we will continue to deliver our arts programmes in London and Bristol and still include a range of remote support options, yet will continue to mainly deliver face to face services at our studios.

We will carry on with our vital work and will hold art, education and health in the same frame.

The Studio will continue to offer the right mix of inspiration, encouragement and listening, so people can find their own creative voice, shed stigma and breach isolation by becoming a member of a creative therapeutic community.

Our core work will be supplemented by projects which will continue to test new ideas, to reach diverse groups of beneficiaries and to develop new partnerships.

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STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2021

____________________ FINANCIAL AND BUSINESS REVIEW

The charitable company's result for the year ended 31 March 2021 was a surplus of £848 (2020=£843). Incoming resources were £421,236 (2020=£314,486)

PRINCIPAL FUNDING SOURCES

The funding sources for the charitable company include invoiced fees for services to local authorities in London and Bristol, grants from trusts and foundations, income through other fundraising activities and miscellaneous income from artwork sales or space hires.

RESERVES AND DESIGNATED FUNDS POLICY

The Trustees considered the risks to the charity to be in two main areas:

Reserve Fund: Studio Upstairs income fluctuates year on year as the grants supplementing the core costs are on annual and short-term basis. To manage the risk and in line with the Charity Commission guidance for good practice and reserves, the charity has established a policy to have a reserve fund of six months of running costs. This is intended to cover the worst-case scenario in the unlikely case it needs to be wound up as well as to balance the fluctuations in income. This provides the trustees and other stakeholders with enough confidence that the organisation would be able to meet its obligations to beneficiaries, funders and staff in any situation.

Geoff Mack Fund: This fund provides access to the Studio for individuals on low income. This fund provides a much-needed safety net for very vulnerable individuals with no other means of support.

South London Fund: This fund is set out to support the development of the newest branch of the charity created in response to gaps in provision throughout this part of the capital.

Facilities Fund: This fund is set out to support essential repairs and maintenance of the premises.

STATEMENT OF THE RESPONSIBILITIES OF THE TRUSTEES

The Trustees, who are the charitable company’s directors under company law, are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required by law to give a true and fair view of the state of affairs of the charitable company and of the results of the charitable company for that period. In preparing these financial statements the Trustees are required to: select suitable accounting policies and then apply them consistently; make judgements and estimates that are reasonable and prudent; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

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STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2021

The Trustees are responsible for keeping proper accounting records that disclose with reasonable ____________________ accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 1985. They are also responsible for safeguarding the assets of the charitable company and for taking reasonable steps for the prevention of fraud and irregularities.

SMALL COMPANY EXEMPTIONS

This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (issued in March 2005), the provisions of the Charities Act and in accordance with the special provision for small companies under Part 15 of the Companies Act 2006.

STATEMENT OF EXEMPTION FROM AUDIT

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31st March 2021. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these accounts.

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006 and that members have not required the company to obtain an audit in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Act and for preparing accounts which give a true and fair view of the state of the company as at the end of the financial year and if its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of section 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities published on 16 July 2014.

The Accounts were approved by the Trustees on 6 December 2021.

INDEPENDENT EXAMINER

Mr Nabeel Qureshi (TAXACCOLEGA) was appointed as the charitable company’s Independent Examiner during the year and has expressed willingness to continue in that capacity.

Registered office:

1A Drummond Road, London, CR0 1TT

Signed on behalf of the Trustees:

Keith Miller, Chair of the Board / Director

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STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2021

____________________ INDEPENDENT EXAMINER'S REPORT

I report on the accounts for the year ended 31 March 2021 set out on pages 18 to 24.

Respective responsibilities of Trustees and reporting accountants

The Trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The Trustees consider that an audit is not required for this year under section 43(2) of the Charities Act 1993 (the 1993 Act) and that an independent examination is needed. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

to state whether particular matters have come to our attention.

Basis of Independent examiner’s report

My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

  1. Which gives me reasonable cause to believe that any material respect the requirements: to keep accounting records in accordance with section 386 of the Companies Act 2006; and to prepare accounts which accord with the accounting records, comply with the accounting requirements of the section 396 of the Companies Act 2006 and the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met.

  2. To which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Approved by: Nabeel Qureshi , TAXACCOLEGA, Chartered Certified Accountants

187A London Road Croydon CR0 2RJ

Date: 29 November 2021

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STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2021

____________________ FINANCIAL STATEMENTS

INCOME AND EXPENDITURE ACCOUNT 2021

31st March
31st March 31st
2021
2021
Restricted Unrestricted
Funds
Funds
Note
£
£

Incoming Resources
Service income
2
-
204,583

Voluntary income
3
162,795
53,716

Investment Income
4
-
142
 31st March
31st March 31st
2021
2021
Restricted Unrestricted
Funds
Funds
Note
£
£

Incoming Resources
Service income
2
-
204,583

Voluntary income
3
162,795
53,716

Investment Income
4
-
142
 31st March
31st March 31st
2021
2021
Restricted Unrestricted
Funds
Funds
Note
£
£

Incoming Resources
Service income
2
-
204,583

Voluntary income
3
162,795
53,716

Investment Income
4
-
142
 March 31st
2021
Total
Funds
£

204,583
216,511
142		 March
2020
Total
Funds
£
263,300
50,810
376
Total

Resources Expended
5
Charitable activities costs

Governance costs

Costs of generating funds
 162,795

-

-

-
 258,441
405,860

3,822

10,706
 421,236
405,860
3,822

10,706
 314,486
282,279
15,684
15,680
Total
-
420,388 420,388 313,643
Net incoming (outgoing) resources
before transfers)
162,795
161,947 848
843
Gross transfers between
funds
Net income
(expenditure)for the year
162,795
161,947
848
843
Total funds brought forward
-
191,936
191,936
191,093
Total funds carried forward
162,795
29,989
192,784
191,936

Movements in funds are shown in Note 11 to the financial statements.

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 20 to 24 form part of these financial statements.

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STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2021

____________________ BALANCE SHEET

Note
FIXED ASSETS
Tangible assets
7
CURRENT ASSETS
Debtors
8
Stock
Cash at bank and in hand
CREDITORS
Amount falling due within
one year
9
Net Current Assets
TOTAL ASSETS LESS CURRENT
LIABILITIES
CAPITAL AND
RESERVES
10
Restricted Funds
Unrestricted Funds		 31st March
2021
£
£
9,119
36,010
250
177,405
213,665
30,000
183,665
192,784
162,795
29,989
192,784		 31st March
2021
£
£
9,119
36,010
250
177,405
213,665
30,000
183,665
192,784
162,795
29,989
192,784		 31st March
2020
£
21,676
49,760
900
140,874		 31st March
2020
£
21,676
49,760
900
140,874
£

170,260
2021
£
9,119
36,010
250
177,405
213,665 191,534
30,000 21,274
192,784 191,936
162,795
29,989		 29,295
162,641
192,784 191,936

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STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2021

____________________

NOTES TO THE FINANCIAL STATEMENTS

1. ACCOUNTING POLICIES

(a) Basis of Accounting:

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities published on 16 July 2014.

(b) Incoming resources:

All incoming resources are included in the Statement of Financial Activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

Income from charitable activities is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable. Incoming resources from charitable activity are accounted for when earned.

Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. Income resources from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.

Income from donations and legacies are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts.

Grant of a general nature provided by government and charitable foundation which are not conditional on delivering certain levels or volumes of a service or supply of charitable goods are recognised as income from donations and legacies.

(c) Resources expended:

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates: Expenditure on raising funds comprise the costs associated with attracting income from donations and legacies.

Expenditure on charitable activities comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the independent examination fees and costs linked to the strategic management of the charity.

All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly; others are apportioned on an appropriate basis, such as consultants, estimated usage or space occupied. Material allocations of costs made within the accounts are:

Cost function Office expenses Senior Management Services
Basis of allocation Estimated Usage Time spent
Charitable Activities
95%
75%
Governance Costs
1%
10%
Generating Voluntary income
5%
15%

(d) Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

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STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2021

____________________

(e) Fund accounting: funds held by the charity are either:

(f) Operating Leases: Rentals are charged to the income and expenditure account in equal annual amounts over the period of the lease.

2. CHARITABLE INCOME

2. CHARITABLE INCOME
31st March 2021 31st March 2021 31st March 2021 31st March 2020
Restricted Unrestricted Total Total
Funds Funds Funds Funds
Therapeutic Art Studio £ £ £ £
Public Sector Contracts -
153,882		 153,882 199,690
Members Contributions - 45,406 45,406 51,847
Other income -
5,295		 5,295 11,793
Total -
204,583		 204,583 263,300

3. DONATIONS AND LEGACIES

31st March 2021 31st March 2021 31st March 2021 31st March 2020
Restricted Unrestricted Total Total
£ £ £ £
Grants/Core costs 162,795 44,137 206,932 39,294
Grants/Projects - 8,929 8,929 9,489
Donations - 450 450 450
Friends Scheme - 200 200 1,577
Total 162,795 53,716 216,511 50,810

4. INVESTMENT INCOME

31st March 31st March 31st March 31st March
2021 2021 2021 2020
Restricted Unrestricted Total Total
£ £
Interest received - 142 142 376
Total - 142 142 376

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STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS

YEAR ENDED 31ST MARCH 2021

____________________

5. RESOURCES EXPENDED

Staff Salaries, Fees & Expenses
Training & Supervision Costs
Team and Community Events
Volunteer Expenses
Employer N I Co
Pension Contributions
Rent and Utilities
Office Costs
Studio Materials/ Equipment
Artists Fees
Shipping, Freight and Delivery
Marketing and Communications
Travel and Subsistence
Accounts Costs
Legal Fees/ DBS Checks
Bank Charges
Insurance
Projects and Exhibition Costs
Bad Debt Written Off
Depreciation
Ind. Examiner's remuneration		 Charitable
Activities
£
233,744
4,814
360
136
1,468
1,396
92,146
11,226
11,725
3,103
1,926
1,150
49
6,716
446
36
2,196
1,772
13,700
12,557
-		 Governance
£
2,460
-
-
-
15
15
-
-
-
-
-
-
-
916
-
-
116
-
-
-
300		 Generating
Funds
£
9,842
-
-
-
62
58
-
590
-
-
-
60
-
-
-
-
-
94
-
-
-		 Total 2021
£
246,046
4,814
360
136
1,545
1,469
92,146
11,816
11,725
3,103
1,926
1,210
49
7,632
446
36
2,312
1,866
13,700
12,557
300		 Total 2020
£
190,199
2,995
236
118
2,693
1,466
81,124
3,048
3,685
561
220
216
3,635
6,109
345
60
2,285
448
2,900
11,000
300
Total Resources Expended 405,860 3,822 10,706 420,388 313,643

Over the year, the SU overall and unit costs increased due to delivery in smaller groups and provision of individual support. There were additional costs related to preventing digital exclusion, development of new services and works for adapting the existing provision and premises to the pandemic conditions.

No member of staff received more than £60,000 in remuneration.

6. TAXATION

The company is a registered charity and it is considered that its activities are such that no taxation liability will arise.

7. TANGIBLE FIXED ASSETS

7. TANGIBLE FIXED ASSETS
COST
At 1st April 2020
Additions		 Plant & Machinery
£

47,197		 Equipment
Total
£
£
19,704
66,901
Total 47,197 19,704
66,901

22

STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2021

____________________

STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2021
____________________		 STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2021
____________________		 STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2021
____________________
DEPRECIATION
At 1st April 2020
35,038
10,187
45,225
Charge for the year
3,040
9,517
12,557
At 31st March 2020
38,078
19,704
57,782
NET BOOK VALUE
At 31st March 2021
9,119
-
9,119
At 31st March 2020
12,159
9,517
21,676
8. DEBTORS
31st March
31st March
2021
2020
Trade debtors
36,010
31,900
Other debtors
-
17,860
Prepayments and accrued income
-
-
Total Debtors
36,010
49,760
9. CREDITORS
31st March
31st March
2021
2020
Amounts falling due within one year
30,000
21,274
Creditors
-
-
Accruals and deferred income
-
-
Total Creditors 30,000 21,274

10. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fixed assets
Debtors
Stock
Cash at bank and in hand
Creditors		 General
Funds
£
9,119
36,010
250
177,405
30,000		 Designated Funds
£
-
-
-
-
-		 Restricted
Funds
£
-
-
-
-
-		 Total 2020
£
9,119
36,010
250
177,405
30,000
192,784 - - 192,784

23

STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2021

____________________

11. CAPITAL

The company has no share capital being limited by guarantee. Each member undertakes to contribute £1 in the event of the company being wound up.

12. RELATED PARTIES

Day to day operations of the charity is under the control of persons who are not directors of the organisation, but are such that related party disclosures are relevant.

13. MOVEMENT IN FUNDS At 1 April Incoming Outgoing At 31 March
2020 2021
Restricted funds
City Bridge Trust 0 45,000 45,000 0
Lloyds Foundation/Enable 12000 0 12,000 0
Arts & Health Partnership 0 9,984 300 9,684
DCMS - 45,000 45,000 -
LB Croydon - 14,762 10,000 4,762
Arts Council England - 37,760 37,760 -
LLC/Community Grant/ ESF 14,000 6,000 15,000 5,000
CVA/Grassroots 3,000 - 3,000 -
Total restricted funds 29,000 158,506 168,060 19,446
Unrestricted funds At 1 April Incoming Outgoing At 31 March
Designated funds: 2020 2021
Geoff Mack Fund 5,000 90,000 88,000 7,000
Funding Reserve 130,000 20,000 -
50,000
HRMC / Emergency Funds - 32,137 32,137 -
South London 11,000 10,000 11,798 9,202
Facilities Fund 10,000 15,000 20,000 5,000
Bearing Foundation - 12,000 12,000 -
General funds 6,936 - 4,800 2,136
Total unrestricted funds 191,093 130,656 158,813 162,936
Total funds 191,093 172,450 171,607 191,936

In the Trustees’ opinion, there are enough resources held to enable each fund to be applied in accordance with the restrictions imposed by donors.

14. TRUSTEES REMUNERATION

The Trustees did not receive any remuneration. Trustees were reimbursed in the sum of £Nil for travelling expenses during the year 2021 (2020= £Nil)

24