ANNUAL REPORT & ACCOUNTS 2022 STUDIO UPSTAIRS PAFEK StSPIIMr SVEuéwsT **STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2022** **______________________________________________________________________________________________________________** ## **CONTENTS** **WELCOME TO OUR ANNUAL REPORT! ................................................................. 4 OBJECTIVES AND ACTIVITIES OF THE CHARITY ................................................. 5 OUR IMPACT ............................................................................................................. 8 FINANCIAL AND BUSINESS REVIEW .................................................................... 14 INDEPENDENT EXAMINER'S REPORT ................................................................. 16 FINANCIAL STATEMENTS ..................................................................................... 17 NOTES TO THE FINANCIAL STATEMENTS .......................................................... 19** 2 **STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2022** **______________________________________________________________________________________________________________** 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 199**| |---|---| |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| 3 **STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2022** **______________________________________________________________________________________________________________** ## **WELCOME TO OUR ANNUAL REPORT!** This past year has been one of sustained accomplishment and we are proud to share with you some of the highlights of our work. As we reflect back, we are filled with gratitude for the support and commitment of our donors, team, and volunteers. Together, we have made an incredible impact on the lives of those facing mental health challenges. Throughout the year, we worked tirelessly to adapt our work plan to the available resources, refresh our website and the public exhibition programme. At Studio Upstairs, we are committed to helping as many people as possible access affordable mental health care in a timely manner. From the individual sessions and therapy groups to the community outreach programs, we have been able to provide vital mental health services to those in need. Post-pandemic, we have retained some of our online delivery options for those who are unable to participate in face-to-face work at the studios. Yet our work goes beyond just providing services. We have also been active in advocating for improved mental health care policies and raising awareness about the importance of mental wellness. We know that mental health challenges can touch anyone, at any time. That's why we are committed to doing everything we can to create a world where everyone has access to the resources and support they need to thrive. As we look to the future, we are filled with hope and determination. For many of the people we serve, seeking help for their mental health can be a difficult and overwhelming process. We have been able to create a safe and welcoming space where they can begin their journey to healing and hope. With the help of our supporters and the incredible dedication of our team and volunteers we can make a real difference in the lives of those who are struggling. Thank you for helping Studio Upstairs to create a better world for all. We are deeply grateful to all of you! **Keith Miller Zlatinka Hristova** **Chair of the Board of Trustees Managing Director** 4 **STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2022** **______________________________________________________________________________________________________________ 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. ## **Aims** - Achieve long term stability and improved wellbeing for the beneficiaries - Support people towards more autonomy and in the development of a creative identity - Challenge the stigma and prejudice projected on to those experiencing mental and emotional distress and help them escape the labels and linear parameters of society. 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. The artists have access to a wide range of professional media and creative processes including painting, drawing, printmaking, collage, sculpture, animation, photography, writing and performance. ## **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. 5 **STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2022** **______________________________________________________________________________________________________________** ## **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. **TRUSTEE SELECTION AND TRAINING** 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. As set out in the 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. ## **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. 6 **STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2022** The Studio sessions provide the time and space **______________________________________________________________________________________________________________** for members to work and to explore their own potential as artists. They work together with Studio Managers who are trained as both artists and as art therapists 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 team is supported by clinical supervisors and complemented by volunteers, students on training placements and visiting artists. 7 **STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2022** **______________________________________________________________________________________________________________ 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 artists come to the studio for the same sessions each week, building a community of peers and collaborators. We have a 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 19% and delivered 32,300 hours of direct support. The Studio Upstairs Volunteers contributed over 8,100 hours of invaluable help to the charity to the estimated value of £82,000. 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: - Reduced crisis admissions and shorter hospital admissions - Improved choice and control of services - Increased learning and education - Increased engagement of hard-to-reach groups - Increase in signposting to agencies for additional support (housing, benefits etc) - Improved sense of wellbeing - Increased personal achievement and selfexpression - Increase support network for the socially excluded - Increased support to families and carers - Increased engagement in mainstream opportunities - Increased support to families and carers - Increased volunteering and employment. The effectiveness of our work is highly valued and validated by the beneficiaries who often have not found sufficient support elsewhere. 89% 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. 8 **STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2022** **______________________________________________________________________________________________________________ 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 were reaching out and continued to promote positive mental health in the wider community. Our exhibitions and collaboratively produced magazines showcase the talent of our members. During the year in addition to the exhibitions in Bristol, we also continued with the work on three of our earlier initiatives: the South Croydon Station Art Trail, The Merton Art Lifelines and the Studio Inside Art Box Projects. 9 **STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2022** **______________________________________________________________________________________________________________** ## **Public Launch and celebration of our South Croydon Station Project** _Last year, the rail company GTR approached Studio Upstairs to help improve the look and feel of South Croydon Station. Our artists responded to the call for artworks that would comfort, inspire, and connect with people passing through the busy suburban station._ _The art trail of images includes striking large-scale posters, intimate and reflective pieces, art with a tongue-in-cheek message, plus a cosmos of colourful bubble-shaped stickers. After the official launch and celebrations in the spring of 2022, we are working in partnership with the station to continue to maintain the art trail displays._ ## _**Studio Inside: Art & Wellbeing Box**_ _The SU team developed this project so it can reach further in the wider community. The project Studio Inside 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._ _Our Printing with Light boxes include a mindful walk to gather inspiration and materials to create beautiful cyanotype prints_ 10 **STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2022** **______________________________________________________________________________________________________________** _The Studio Inside boxes are available from our website yet occasionally we also have them at fairs and stalls such as this one at the Old Palace School in Croydon._ _Another public exhibition took the form of a changing window display over a few months at the Hub in Broad Green, Croydon._ ## _**Art Lifelines, Merton**_ _Our award-winning social prescribing project went from strength to strength. Group members found it had a big impact on their well-being and confidence:_ _**“** The artwork was nice to do because it was calming, people get away from their normal life. It gave space for people to seek a window, you go through it, separation from normal life. A breathing space.”_ _“I did things outside my comfort zone and did things that were challenging. I have a lot more confidence in doing art with other people.”_ _“It has afforded me not only the opportunity for self-expression but also self-discovery and rebuilding confidence I had lost in myself.”_ 11 **STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2022** **______________________________________________________________________________________________________________** _**Bristol Studio Exhibition: UNLOCKED**_ _As the world had to adjust to unprecedented times, so did Studio Upstairs. The team rose to the challenge by maintaining close contact with members during lockdowns. Tragically, some_ _**members** paid the ultimate price of isolation, emphasising the importance of having a space to feel valued._ _The_ _**“UNLOCKED”** exhibition demonstrates how essential the studio is for survival on the journey of recovery._ 12 **STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2022** **______________________________________________________________________________________________________________** ## **FUTURE PLANS** Our three-year funding strategy aims to address the increased demand and is reviewed regularly by the senior management team. It’s approach 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 seek new corporate social responsibility relationships to reduce our reliance on grant funding. Our 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 2022/23 we will continue to deliver our arts programmes in London and Bristol and still include a range of remote support options, yet we 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. We 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. 13 **STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2022** **______________________________________________________________________________________________________________ FINANCIAL AND BUSINESS REVIEW** The charitable company's result for the year ended 31 March 2022 was a surplus of £603 (2021=£843). Incoming resources were £355,468 (2021=£421,236). ## **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 risks in two main areas: - Buildings: risks not covered by insurance or planned expenditure - Operational: redundancy costs, contingency for outstanding liabilities, increased energy, cleaning and professional costs, an increase in demand for free and subsidised places and contingency for fluctuations in funding cycles by maintaining at least 6 months reserve for operational costs. **Reserve Fund:** Studio Upstairs income fluctuates year on year as the grants supplementing the core costs are on an 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 enduring mental health needs and 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; 14 **STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2022** **______________________________________________________________________________________________________________** prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. 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 2022. 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 20 December 2022. ## **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** 15 **STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2022 ______________________________________________________________________________________________________________ INDEPENDENT EXAMINER'S REPORT** I report on the accounts for the year ended 31 March 2022 set out on pages 17 to 23. ## **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: - examine the accounts under section 43 of the 1993 Act; - to follow the procedures laid down in the general directions given by the charity Commission under section 43(7)(b) of the 1993 Act; and 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: 15 December 2022 16 **STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2022** **______________________________________________________________________________________________________________ FINANCIAL STATEMENTS** ## **INCOME AND EXPENDITURE ACCOUNT 2022** ||**31st March**
**31st March**
**31st **
**2022**
**2022**
**Restricted Unrestricted**
**Funds**
**Funds**
**Note**
**£**
**£**

**Incoming Resources**
**Service income**
**2**
-
257,539

**Voluntary income**
**3**
93,342
4,573

**Investment Income**
**4**
-
14
|**31st March**
**31st March**
**31st **
**2022**
**2022**
**Restricted Unrestricted**
**Funds**
**Funds**
**Note**
**£**
**£**

**Incoming Resources**
**Service income**
**2**
-
257,539

**Voluntary income**
**3**
93,342
4,573

**Investment Income**
**4**
-
14
|**31st March**
**31st March**
**31st **
**2022**
**2022**
**Restricted Unrestricted**
**Funds**
**Funds**
**Note**
**£**
**£**

**Incoming Resources**
**Service income**
**2**
-
257,539

**Voluntary income**
**3**
93,342
4,573

**Investment Income**
**4**
-
14
|**March**
**31st **
**2022**
**Total**
**Funds**
**£**

257,539

97,915

14
|**March**
**2021**
**Total**
**Funds**
**£**
204,783
216,311
142| |---|---|---|---|---|---| ||**Total**

**Resources Expended**
**5**
**Charitable activities costs**

**Governance costs**

**Costs of generating funds**
|**93,342**

90,710

-

-
|**262,126**

250,889

752

12,514
|**355,468**
**421,236**
341,599
405,860
752 3,822
12,514 10,706
**354,865 420,388**
**603 848**
603 848
192,784 191,936
**193,387 192,784**|| ||**Total**
|**90,710**
|**264,155**
||| ||**Net incoming (outgoing) resources**
**before transfers)**

**Gross transfers between**
**funds**
**Net income (expenditure)**

**Total funds brought forward**
|**2,632**
**-**
2,632
-
19,446
|**2,029**

2,029

173,338
||| ||**Total funds carried forward**|**22,078**
|**171,309**
||| Movements in funds are shown in Note 13 to the financial statements. The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 19 to 23 form part of these financial statements. 17 **STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2022** ## **______________________________________________________________________________________________________________ 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
**TOTAL**||**31st March**
**2022**
**£**
**£**
6,839
29,200
160,998
**190,198**
3,650
186,548
**193,387 **
22,078
171,309
**193,387**|**31st March**
**2022**
**£**
**£**
6,839
29,200
160,998
**190,198**
3,650
186,548
**193,387 **
22,078
171,309
**193,387**|**31st March**
**2022**
**£**
**£**
6,839
29,200
160,998
**190,198**
3,650
186,548
**193,387 **
22,078
171,309
**193,387**||**31st March**
**2021**
**£**
36,010
250
177,405|**31st March**
**2021**
**£**
36,010
250
177,405|**£**
9,119

183,665| |---|---|---|---|---|---|---|---|---| ||||**2022**
**£**
29,200
160,998|||||| ||||**190,198**||||**213,665**|| ||||3,650||||30,000|| |||||||||| |||||**193,387 **||||**192,784**| |||||22,078
171,309||||19,446
173,338| |||||**193,387**||||**192,784**| 18 **STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2022** **______________________________________________________________________________________________________________** ## **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
4%
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: - Plant & Machinery @ 18% reducing balance basis - Equipment @100% over the period of one year (First year allowance) - • Assets costing less than £500 are not capitalised 19 **STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2022** ## **______________________________________________________________________________________________________________** **(e) Fund accounting: funds held by the charity are either:** - **Unrestricted** general funds – these are funds for use at the discretion of the trustees in furtherance of the general objectives of the charity. - **Designated** funds – these are funds set aside by the trustees out of unrestricted general funds for specific future purposes or projects. - **Restricted** funds - these are funds which 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. - Transfers between funds are made to cover deficits on individual restricted funds and to recognise fixed assets acquired with restricted income, but with no further restriction on use. **(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 2022**|**31st March 2022**|**31st March 2022**|**31st March 2021**| ||**Restricted**|**Unrestricted**|**Total**|**Total**| ||**Funds**|**Funds**|**Funds**|**Funds**| |**Therapeutic Art Studio**|**£**|**£**|**£**|**£**| |Fees for Funded Places|-|
191,818|191,818|153,882| |Members contributions|-|
57,506|57,506|45,406| |Artwork||2520|2520|200| |Workshop Fees|-|
-|
-|
236| |Other income|-|
5,695|5,695|5,059| |**Total**|**-**|
**257,539**|**257,539**|**204,783**| ## **3. DONATIONS AND LEGACIES** |**31st March 2022**
**31st March 2022**
**31st March 2022**
**31st March 2021**
**Restricted**
**Unrestricted**
**Total**
**Total**
**£**
**£**
**£**
**£**
Grants
93,342
-
93,342
206,932
Donations
-
4,423
4,423
8,929
Friends Scheme
-
150
150
450|**31st March 2022**
**31st March 2022**
**31st March 2022**
**31st March 2021**
**Restricted**
**Unrestricted**
**Total**
**Total**
**£**
**£**
**£**
**£**
Grants
93,342
-
93,342
206,932
Donations
-
4,423
4,423
8,929
Friends Scheme
-
150
150
450|**31st March 2022**
**31st March 2022**
**31st March 2022**
**31st March 2021**
**Restricted**
**Unrestricted**
**Total**
**Total**
**£**
**£**
**£**
**£**
Grants
93,342
-
93,342
206,932
Donations
-
4,423
4,423
8,929
Friends Scheme
-
150
150
450| |---|---|---| |**Total**
**93,342 4,573**
**97,915**
**216,311**||| |**4. INVESTMENT INCOME**
**31st March**
**2022**
**31st March**
**2022**
**31st March**
**2022**
**31st March**
**2021**
**Restricted**
**Unrestricted**
**Total**
**Total**
**£**
**£**
**£**
**£**
Interest received
-
14
14
142||| |**Total**
**-**
**14**
|**14**
|**142**| 20 **STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2022** **______________________________________________________________________________________________________________** ## **5. RESOURCES EXPENDED** |Staff Salaries and volunteers Fees
Training & Supervision Costs
Team and Community Events
Volunteer Expenses
Employer N I Co
Pension Contributions
Rent and Utilities
Office Costs
Studio Art Materials
Artists Fees Sales
Shipping, Freight and Delivery
Equipment
Marketing & Communications
Travel
Accounts Costs
Legal Fees/ DBS Checks
Bank Charges
Insurance
Projects and Exhibitions Costs
Bad Debt Written Off
Depreciation
Independent examiner fee|**Charitable**
**Activities**
**£**
220,455
3,204
24
350
1,700
1,616
77,018
4,281
7,042
604
1,574
788
2,422
-
5,830
400
2
2,358
9,291
360
2,280
-|**Governance**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
307
21
-
124
-
-
-
300|**Generating**
**Funds**
**£**
11,498
-
-
-
89
85
-
225
-
-
-
-
128
-
-
-
-
-
489
-
-
-|**Total 2022**
**£**
231,953
3,204

24

350

1,789
1,701

77,018

4,506

7,042

604

1,574

788

2,550
-
6,137

421

2

2,482

9,780

360

2,280

300
|**Total 2021**
**£**
246,046
4,814
360
136
1,545
1,469
92,146
11,816
11,725
3,103
1,926
5,194
1,210
49
7,632
446
36
2,312
1,866
13,700
12,557
300| |---|---|---|---|---|---| |**Total Resources Expended**|**341,599**|**752**|**12,514**|**354,865**|**420,388**| Four members of staff were employed for the year (2021-2022). 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 2021
Additions|**Plant & Machinery**
**£**

47,197
-|**Equipment**
**£**

19,704

-
|**Total**
**£**
66,901
-| |**Total**|**47,197**|**19,704**
**66,901**|| 21 ## **STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2022** **______________________________________________________________________________________________________________** |**DEPRECIATION**|||| |---|---|---|---| |At 1st April 2021|38,078|19,704|57,782| |Charge for the year|**2,280**|**-**|**2,280**| |At 31st March 2022|40,358|19,704|60,062| |NET BOOK VALUE|||| |**At 31st March 2022**|**6,839**|**-**|**6,839**| |**At 31st March 2021**|**9,119**|**-**|**9,119**| |**8. DEBTORS**|||| |**8. DEBTORS**|**8. DEBTORS**|**8. DEBTORS**|**8. DEBTORS**|**8. DEBTORS**|||| |---|---|---|---|---|---|---|---| |**31st March**
**2022**
Trade debtors
29,200
Other debtors
-
Prepayments and accrued income
-|||||**31st March**
**2021**
36,010
-
-||| |**Total Debtors**
**29,200**
**9. CREDITORS**
**31st March**
**2022**
Amounts falling due within one year
Creditors
3,650
Accruals and deferred income
-|||||**36,010**
**31st March**
**2021**
30,000
-||| ||||||||| |**Total Creditors**
**3,650**
**10. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
**General**
**Funds**
**Designated**
**Funds**
**£**
**£**
Fixed assets
6,839
-
Debtors
-
29,200
Stock
-
-
Cash at bank and in hand
239
138,627
Creditors
3,650
-|||||**Restricted**
**Funds**
**£**

-
-
-
22,078
-||**30,000**
**Total**
**2022**
**£**
6,839
29,200
-
160,998
3,650| ||||||||| |**Total**||**3,482**||**167,827**||**22,078**|**193,387**| ## **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. 22 **STUDIO UPSTAIRS TRUSTEES ANNUAL REPORT & ACCOUNTS YEAR ENDED 31ST MARCH 2022** **______________________________________________________________________________________________________________** ## **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**
**Restricted funds**
Kickstart Scheme/DWP
GOVIA
Enterprise Development Fund
Art Council England
Arts & Health Partnership/NHS
HRMC
North Somerset Council
Redhill Council

LB of Croydon

LB of Hackney

LLC/Community Grant

Merton Giving
|**April**
**Incoming**
**Outgoing**
**At 31 March**
**2021**
**2022**
0
9,755
8,745
1,010
0
6,650
6,150
500
0
10,550
6,548
4,002
0
5,000
5,000
0
9684
0
9,684
0
0
13,438
13,438
0
0
195
195
0
-
5,214
5,214
-
4,762
13,097
12,357
5,502
-
19,572
14,508
5,064
5,000
-
5,000
-
-
9,871
3,871
6,000| |---|---| |**Total restricted funds**
**19,446**
**93,342**
**90,710**
**22,078**
**Unrestricted funds**
**At 1 April**
**Incoming**
**Outgoing**
**At 31 March**
**Designated funds:**
**2021**
**2022**
Geoff Mack Fund
7,000
35,052
36,127
5,925
Funding Reserve
150,000
- 3,000
147,000
South London
9,202
3,200
2,500
9,902
Facilities Fund
5,000
5,000
5,000
5,000
General funds
2,136
1,497
151
3,482|| |**Total unrestricted funds**
**173,338**
**44,749**
**46,778**
**171,309**|| |**Total funds**
**192,784**
**138,091**
**137,488**
**193,387**|| 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 2022 (2021= £Nil) 23