2022-12-31-accounts

Company Number 03466597

TRINITY BUOY WHARF TRUST

A COMPANY LIMITED BY GUARANTEE WITHOUT SHARE CAPITAL

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1

TRINITY BUOY WHARF TRUST A COMPANY LIMITED BY GUARANTEE WITHOUT SHARE CAPITAL

CONTENTS

	Page
Company information	3
Report of the Board of Trustees	4 - 7
Independent Examiner's report	8
Statement of financial activities	10
Balance sheet	11
Notes to the financial statements	12 - 17

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TRINITY BUOY WHARF TRUST A COMPANY LIMITED BY GUARANTEE WITHOUT SHARE CAPITAL

COMPANY INFORMATION

DIRECTORS/TRUSTEES	K E C Sorensen (Chair)	K E C Sorensen (Chair)
	P W Gough
	C J R Grant
	D Jones
	A B Bird (resigned 1	September 2022)
	J C Coe
	S A O’Reilly
	P Brickell
	D Richards (appointed 9 May 2023)
SECRETARY	J B Parker (resigned	1 March 2023)
REGISTERED OFFICE	Trinity Buoy Wharf
	64 Orchard Place
	London
	E14 0JW
ACCOUNTANTS	Price Bailey LLP
	8th Floor
	Dashwood House
	69 Old Broad Street
	London
	EC2M 1QS
BANKERS	Co-Op
	1 Islington High Street,
	Islington
	N1 9TR
	Natwest Bank
	Docklands South Quay Branch
	54 Marsh Wall
	South Quay
	West India Dock
	Docklands
	Isle Of Dogs
	London
	E14 9TP
SOLICITORS	Parker Arrenberg
	37 Rushey Green
	Catford
	London
	SE6 4AS
COMPANY REGISTRATION NO	03466597 (England and Wales)
CHARITY REGISTRATION NO	1081760

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TRINITY BUOY WHARF TRUST A COMPANY LIMITED BY GUARANTEE WITHOUT SHARE CAPITAL

TRUSTEES REPORT (INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022

Structure, Governance and Management

Governing Document

The organization is a charitable company limited by guarantee, incorporated on 17th November 1997. Charity registration was confirmed on 28 July 2000. The company was established under a Memorandum of Association which established the objects and powers of the Charitable company and is governed under its Articles of Association.

Recruitment and Appointment of Trustees

The Directors of the company are also charity trustees for the purposes of charity law and under the companies articles are known as members of the Board of Trustees.

The company is organized so that the Trustees meet regularly to manage its affairs. It does not employ any full or part-time staff but its administration is managed under the direction of the Trustees by consultants.

Risk Management

The company’s interests and objects are protected through the under lease granted to Urban Space Holdings Ltd/Trinity Buoy Wharf Space Management Ltd.

As developers and managers of the site USH/TBWSM are effectively bearing the main risks. There are legal remedies contained in the under lease should USH/TBWSM be in breach.

Public Benefit

The charity Trustees have complied with their duty to have regard to the guidance on public benefit published by the commission in exercising their powers or duties.

Objectives and Activities

The company’s objects and principal activities are:

For the benefit of any charitable purpose which promotes the arts and the education of the public in the arts in the London Borough of Tower Hamlets and surrounding Boroughs as the Trustees may from time to time determine.

The Trust achieves these objectives by mainly grant aiding a wide variety of individual artists or arts organisations where they would be unable to undertake specific activities without financial support. The Trust also supports physical projects at Trinity Buoy Wharf, such as new buildings and bridges, where it is clear that these cannot be funded without financial support

Trustees

A B Bird resigned as trustee on 1[st] September 2022.

Trust Meetings

Trustees met three times during the year; on 17[th] March, 8[th] August and 19[th] December 2022.

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TRINITY BUOY WHARF TRUST A COMPANY LIMITED BY GUARANTEE WITHOUT SHARE CAPITAL

TRUSTEES REPORT (INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022

Developments

• The main build out of Goodluck Hope around TBW was completed in October by Ballymore

• The TBW Trust and USM were involved in the Stakeholders Group for the East India Dock Basin

• � The TBW Trust backed a bid for the Levelling Up Fund by LB Tower Hamlets and Lee Valley Regional Park Authority for improvements to the East India Dock Nature Reserve (the bid was unsuccessful)

• June 19[th] and 20[th] saw the launch of public consultation on the 2 potential bridges both of which the Trust is supporting.

Lettings

• TBW remained almost fully let throughout the year (averaging 98-100%).

• New tenants included fine artist Gaby Sahhar, typewriter artist James Cook, musician Wil Bradbury, musician/composer Maxwell Sterling, charity SS Robin Trust, Melner (wood workshop), florist Decaria, charity recruitment agency Third Solutions, RIB training Trinity Reef Marine expansion, structural wood firm ConstruktCLT, film sound company Soundcatchers expansion, tile company Copley Ltd, expansion for Bubblegum Stuff, tattooist 1491, expansion for Thames Clippers and arrival of chef Blackstar Kitchen to the Diner.

• Urban Space Management (TBW) Ltd instituted a 3.5% maximum rent increase rather than based on RPI which averaged around 11% for the year.

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TRINITY BUOY WHARF TRUST A COMPANY LIMITED BY GUARANTEE WITHOUT SHARE CAPITAL

TRUSTEES REPORT (INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022

Events

• In February, The Prince of Wales was accompanied by The Duchess of Cornwall and The Duchess of Cambridge on a visit to Trinity Buoy Wharf, to visit The Prince's Foundation's art school and studios.

• During February and March Central St Martin’s School of Art MA students held an exhibition “This is not a party” in the Chainstore and Buoystore.

• During April, typewriter artist James Cook held an exhibition in the Buoystore.

• On the last weekend in April, Fitzrovia Noir organised glass blowing workshops and Collodian glass photography workshops as part of their Cargoes project.

• From May to November, artist Tom Wilkinson’s “clay camera” was located outside the Lighthouse (TBW Trust funded).

• In mid June, TBW held an open weekend “Bridge to the Future”, which included art workshops, open studios, site tours, consultation on the River Lea bridges and Andrew Baldwin operating his kinetic sculptures (part TBW Trust funded).

• In July the Prince’s Foundation Summer School focus was to help school students (Year 11-12) develop a personal portfolio and a separate course on storytelling through photography (part TBW Trust funded).

• � In August, a 2 day country music festival “Nashville Meets London” took place in the Chainstore and Buoystore.

• In August, Hussain Manawer’s White Rose Foundation ran “Compulsory Subjects 3” – a week long training programme for young creatives (TBW Trust funded).

• During August, three graduates of the University Centre Hastings exhibited work from the Pewterlive Competition, which came direct from the V&A Museum's summer exhibition.

• Netflix film “Rogue Agent” starring James Norton and Gemma Arterton was released in August. Two of the main scenes were filmed at the lighthouse.

• The TBW Drawing Prize exhibition and announcement of the winners took place in the Chainstore and Buoystore in September to October (TBW Trust funded).

• As part of the Totally Thames Festival in September, artist Anna Keen brought “Wandering the Wilderness” exhibition – her paintings printed and mounted onto traffic sign frames showing the heritage of the Thames using painting, drawing and digital mapping technology. The work remains in situ at TBW.

• During October, The Big Draw organised a workshop “The Big Draw: Creativity & Cake” with Frances Quinn.

• During November photographer Michael Collins held an exhibition of his work. The show was titled “Pillars in the River” in part collaboration with The Faraday School (TBW Trust funded).

• In November the Big Draw organised two workshops:- “Trusting the Creative Process” with Lucia Vinti and “Self Portraits in Thread” with artist Oly Bliss (TBW Trust funded).

• Various projects remained open during the year:-

• Longplayer opened at weekends (TBW Trust funded)

• Various filming jobs and theatre/dance rehearsals taking place throughout TBW

• Rio Fonehack

• Ros Burgin’s 'Lifelines' sculpture

• Storybox

• The Faraday Effect

• Andrew Baldwin’s kinetic sculptures

• Alunatime

• Time & Tide Bell

• Alice Irwin’s “Peeps”

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TRINITY BUOY WHARF TRUST A COMPANY LIMITED BY GUARANTEE WITHOUT SHARE CAPITAL

TRUSTEES REPORT (INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022

– Additional TBW Trust support general funding

The TBW Trust financially supported the following activities during 2022:-

• The Trinity Buoy Wharf Drawing Prize. Funding continued for Year four

• Maud Milton of Artyface continued to produce mosaic signs in local schools and overland railway stations

• Royal Drawing School Foundation Year. 2022 was the final year of the 3 years of funding

• The Big Draw continued to be supported, in year 2 of a 3 year agreement.

• The TBW Trust supported and assisted with part funding for the Thames Festival Trust’s successful Heritage Lottery Grant application “London’s Lost Village” to undertake historical research into TBW and the surrounding peninsula.

Financial Review and Reserves

The trust continues to receive regular income from its share in rents and licenses from Trinity Buoy Wharf. It trades within its financial capacity and has sufficient reserves to meet regular outgoings and commitments. Total receipts within the year (all of which were unrestricted) totalled £306,547 (2021: £339,213). The charity expenditure totalled £430,956 (2021: £389,016).

Unrestricted net assets at the year end totalled £109,968 (2021: £234,377).

The policy of the trustees is to ensure that the level of reserves over the coming years is sufficient to meet the demands of the Trust. The level of free reserves at the end of the year under review total of £Nil (2021: £Nil), however the trust has £109,968 of funds designated (2021: £234,377), which can be undesignated if the need arises to ensure grant commitments can be met. All of the Trust’s funds held at the year end are generally unrestricted funds which are expendable at the discretion of the Trustees in furtherance of the objectives of the charity. Such funds may be held in order to finance working capital requirements.

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TRINITY BUOY WHARF TRUST A COMPANY LIMITED BY GUARANTEE WITHOUT SHARE CAPITAL TRUSTEES REPORT (INCLUDING DIRECTORS, REPORTI FOR THE YEAR ENDED 31 DECEMBER 2022 R•$pon$lbilltlès of the Trustees The trustoes {who are also the directr￿S of Triiuty Buoy Wharfforlhs pu￿￿95 of ¢omp8ny18wI are responsible for preparing the Trugteès, Teport and thè financial gtatemènts in aeeord8nc8 with applicablo law and United Kingdom AccounlSrvJ Standards {United Kingdi)m Generally Accoplad Accounting Prgctic&l. Company law requyes the directors io prepare fin8ncial siatements for each finanaal year. Under that law the dlre¢lors havg elected to prepare Ihe financial statements in 8ceorf8n¢è United Kingdom Generally Accepted Accounllng Pracllce (Uniled Kingdom Accounting Stsndards 8nd 8pplfic8ble lawl. Undercompany law the directors mu81 not approve the financlal statements unless they are sali8fted that they give a true and fair view of the slate of affairs of Ihe charitable companyand olthe incoming resources and application of resources, including the income and oxpenditur9. of th8 chaFitabl8 Gompany for thal pork￿. In pr8parln9 th8sb financlal $talgmants. the directors are rgquire(I lo.. select suitable accounting poliues 8nd then applythem con51s1enlly, observ6 the methods and principles in the Charftles SORP FRS102 (2019)- m8kejudgments and accounting estimates that are reasonable and prudent. slate whether applicable UK Accounting Standards have been folkTrw8d, subject to any malorlal departures disdosed and explained in the financial 5t8tements'. prgpsre the financial $talement5 on Ihe going cOn￿M basis unless It Is in8ppropriate to Ptesume that the charflable companywll c£￿tinUe Sn operation. The Trustees are responsible for keepiThJ 8dequale ￿cOUnting records ihat are sufficient to show and explain the charitable ¢ompanY5 transactions and disck)se v•ith reasonabl8 accuracyat anytlme the financi&l position oflhe charitsble company and enable them to ensure that the financial stslernenls comptywith the Companies Acl 2006. They are also reSP￿S*ble for safaguarding the assets of ihe charitable ¢ompany and henea for taking reasonable steps for the preventron and deledon of fraud and other Irregularit￿s. Th8 TTusl8es are rgsponsible fof the rnaintenance and integrity of the corporate and financial information Included on the charilable compan￿5 website. LegislatK)n in the United Kingdom goveming the preparation and di83emination ol financial statemenls may dtffer from legi￿at￿)n in otherlurisdictions. Thls r8POrt w8s approved by the 808rd of Tnjstees on 7 Sep 2023 and signed on its behall by KEG orensen Chair

TRINITY BUOY WHARF TRUST A COMPANY LIMITED BY GUARANTEE WITHOUT SHARE CAPITAL

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF TRINITY BUOY WHARF TRUST – A COMPANY LIMITED BY GUARANTEE WITHOUT SHARE CAPITAL

I report to the charity trustees on my examination of the accounts of the company for the year ended 31 December 2022 which are set out on pages 10 to 17.

Responsibilities and basis of report

As the charity 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 company’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

Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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 that in any material respect:

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.

Michael Cooper-Davis FCCA ACA Price Bailey LLP Chartered Accountants 8th Floor Dashwood House 69 Old Broad Street London EC2M 1QS Date: 22 September 2023

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TRINITY BUOY WHARF TRUST A COMPANY LIMITED BY GUARANTEE WITHOUT SHARE CAPITAL

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022 (INCOME AND EXPENDITURE ACCOUNT)

	Notes	Year ended	Year ended
	31	December 2022	31 December 2021
			(as restated)
		Unrestricted	Unrestricted
		Fund	Fund
		£	£
INCOME FROM:
Charitable activities	3	303,509	237,359
Investments		3,038	4,354
Other Income		-	97,500
		_	______
TOTAL		306,547	339,213
		_	______
EXPENDITURE ON:
Charitable activities	5	(430,956)	(389,016)
		_	______
TOTAL		(430,956)	(389,016)
		_	______
NET MOVEMENT IN FUNDS BEING NET
(EXPENDITURE)/INCOME		(124,409)	(49,803)
		_	_
Total funds brought forward as previously stated		149,569	284,180
Correction of a prior period	12	84,808	-
		_	_
TOTAL FUNDS BROUGHT FORWARD AS RESTATED		234,377	284,180
		_	_
TOTAL FUNDS CARRIED FORWARD		109,968	234,377
		������	������

All income and expenditure has arisen from continuing activities.

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

The notes on pages 12 to 17 form part of these financial statements.

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TRINITY BUOY WHARF TRUST A COMPANY LIMITED BY GUARANTEE WITHOUT SHARE CAPITAL BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2022 Not•s 31 December 2022 31 December 2021 (as r•statedl URRENT ASSETS D8btors 2.305 17.214 Ca8h al bank 673,632 725.189 675,937 742.403 CREDITORS- AMOUNTS FALLING DUE WITHIN ONE YEAR 10 389.945 272.993 NET CURRENT ASSErs 285,992 469,410 TOTAL ASSETS LESS CURRENT LIABILITIES 285.992 469,410 CREDITORS- AMOUNTS FALUNG 11 DUE AFTER ONE YEAR 176.024 235.033 NET ASSETS 109,968 234,377 FUNDS Unrostrl¢t8d funds Unrestrict8d fund Designated fund 13 12 109.968 234.377 TOTAL FUNDS 109.968 234,377 For the year ending 31 December 20ZZ the company was enltlled lo exemplk)n from audll under sedon 477 of the Companies Act 2006 relaling to small companies. Direclois. respon5ibililies.. The mernbers have not required the ts)mpany lo oblain an audit of its accounts for tha year in qu$8lion In accordance with Section 476. The direGlors acknowledge their respon5ibililies forcomplyng ￿ryth the requiremenls of ihe Act wllh respect to accounlng records and Ihe preparation of accL¥unts. These accounts have been prep8red in accordance wth the provisions 8ppllcable to companies 8ublecl to the small companles. regim8 and in accordance wlth Slatements of Re￿)r￿[￿ended Practice for ChaFltle5 of th8 Finanual Raportlng Standard 102 ISORP 2019- FRS 1021. The financial statements were appwied by the Board of Tru51ees on 7 Sep 2023 Lk K E C Sorensen Trustse The notes on pages 12 to 17 form part of these financi￿ statemen1&

TRINITY BUOY WHARF TRUST A COMPANY LIMITED BY GUARANTEE WITHOUT SHARE CAPITAL

The notes on pages 12 to 17 form part of these financial statements.

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1. BASIS OF PREPARATION

Trinity Buoy Wharf Trust is a charitable company registered on 28 July 2000 under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. The charitable company is a public benefit entity, limited by guarantee, under the number 03466597 in England, within the United Kingdom. The address of the registered office, and place of business, is Trinity Buoy Wharf, 64 Orchard Place, London, England E14 0JW.

The financial statements have been prepared under the historical cost convention, unless otherwise specified within these accounting policies, and in accordance with Statements of Recommended Practice for Charities of the Financial Reporting Standard 102 (SORP 2019 – FRS 102) and applicable accounting standards as amended by Bulletin 1. The financial statements are presented in Sterling (£) and are rounded to the nearest £.

Going Concern

The financial statements have been prepared on a going concern basis which forecasts that the Company will have adequate resources to continue in operational existence for a period of at least 12 months from the date of this financial report.

A forecast has been prepared for a period of more than 12 months from the date of approval of these financial statements. The forecast indicates that, whilst taking into account reasonable downsides, sufficient funds are expected to be generated within the Company so as to meet the liabilities of the Company as they fall due.

2. ACCOUNTING POLICIES

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Income

All income is included in the Statement of Financial Activities (SoFA) when the Charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

Rental income is recognised when the Charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. Rental income is recognised in the period to which it relates.

Donations, legacies, grants and other forms of voluntary income are recognised as income when receivable.

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TRINITY BUOY WHARF TRUST A COMPANY LIMITED BY GUARANTEE WITHOUT SHARE CAPITAL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

Expenditure

All expenditure is accounted for on an accruals basis and is inclusive of VAT. Expenditure has been classified by nature. Governance costs are those incurred for the governance arrangements of the Charity which relate to the statutory running of the Charity as opposed to those costs associated with generating funds.

Costs that cannot be allocated directly are apportioned as support costs on a fair, reasonable, accurate and consistent estimate basis weighted according to the use of the trust's general resources.

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

• Leasehold property & leasehold improvements: Straight line over 15 years

• Plant and machinery: Straight line over 3 years

• Fixtures, fittings & equipment: Straight line over 4 years

Assets subject to depreciation or amortisation are reviewed for impairments whenever events or other changes in circumstances indicate that their carrying value is greater than the recoverable amount.

Trinity Buoy Wharf includes its property, Trinity Buoy Wharf, at cost. As the cost of the property was fully covered by a grant there is subsequently no tangible fixed assets shown on the balance sheet.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Accrued income and tax recoverable is included at the best estimate of the amounts receivable at the balance sheet date.

Cash at bank and in hand

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

Creditors

Creditors are recognised where the Charity has a present obligation from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. All assets and liabilities are recorded at cost which is their fair value.

Taxation

The Company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Key sources of judgement and estimation uncertainty

No significant judgements, accounting policies or assumptions have been made by management in applying the Charity’s accounting policies.

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TRINITY BUOY WHARF TRUST A COMPANY LIMITED BY GUARANTEE WITHOUT SHARE CAPITAL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

3. ANALYSIS OF INCOME AND ENDOWMENTS

	31 December 31 December	31 December 31 December
	2022	2021
	£	£
Charitable activities
Rental income	303,509	237,259
	_	_

4. 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.

5. ANALYSIS OF EXPENDITURE

5. ANALYSIS OF EXPENDITURE
	Year ended	Year ended
	31 December	31 December
	2022	2021
		(as restated)
	£	£
Grants payable to institutions
White Rose foundation	58,000	7,000
University of Dundee	-	40,000
Leamouth Bridge Studies	5,960	-
Longplayer Trust	-	15,815
Zecora Ura Theatre	-	-
TBW	-	155,000
The Big Draw	-	58,950
Campaign for drawing	-	16,496
Longplayer Trust	-	-
Art in residence	-	-
Artyface	10,000	10,000
Thames Festival Trust	10,000	3,000
USM – Leamouth/Bridges	733	16,095
Chainstore Improvements	-	-
University of Arts	-	-
Totally Thames	-	-
Action Dog	-	-
ZU UK RIOFONEHACK	-	-
Princes Foundation	54,000	-
World Heartbeat Academy	141,000	-
The Line Community Trust	50,000	-
Royal Drawing Show of Show	10,000	-
	__	__
__
	339,693	322,356
Grants payable to individuals	78,677	42,823
	__	_
	418,370	365,179
	������	������
Support and Governance costs
Secretarial fees	6,969	18,239
Independent examiners remuneration	5,617	4,723
Other	-	875
	__	__
	12,586	23,837
	__	__

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TRINITY BUOY WHARF TRUST A COMPANY LIMITED BY GUARANTEE WITHOUT SHARE CAPITAL

Total Resources Expended 430,956 389,016 ������ ������

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

6. STAFF COSTS

There are no employees who received any emoluments during the year or the prior year. The average number of staff in the year was Nil (2021 – Nil).

7. TRUSTEES REMUNERATION OR EXPENSES

No remuneration was paid to trustees during the year (2021 – £NIL). No expenses were reimbursed to the trustees in the year (2021 - £538.96 to 1 trustee).

8. TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
	Leasehold
	Land and
	Buildings
	£
Cost	106,250
Depreciation	(106,250)
	_
Net book value 31 December 2022	-
	_
Net book value 31 December 2021	-
	������

The Trust was granted a licence to occupy the site to Urban Space Management Limited for 124 years from 1 April 1998. Upon completion of work specified in the development agreement this licence was converted into a lease.

9.

10.

DEBTORS

DEBTORS
	31 December	31 December
	2022	2021
	£	£
Rental income	-	14,926
Accrued interest	2,305	2,288
	_	_
	2,305	17,214
	������	������
CREDITORS – DUE WITHIN ONE YEAR
	31 December	31 December
	2022	2021
		(as restated)
	£	£
Trade creditors	2,500	-
Other creditors	15,380	18,803
Committed grants	372,065	254,190
	_	_
	389,945	272,993
	������	������

15

TRINITY BUOY WHARF TRUST A COMPANY LIMITED BY GUARANTEE WITHOUT SHARE CAPITAL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

11.	CREDITORS – DUE AFTER ONE YEAR
		31	December	31 December
			2022	2021
				(as restated)
			£	£
	Grants		176,024	235,033
			�������	�������

12. PRIOR YEAR ADJUSTMENT

The prior year adjustment relates to an adjustment of £84,808 in creditors reducing grants payable in 2021 from £449,985 to £365,178.

13. DESIGNATED FUND

DESIGNATED FUND
	31	December	31 December
		2022	2021
			(as restated)
		£	£
Proposed Leamouth Bridge and Footpath		109,968	234,377
		�������	�������

The designated fund represents funds that will go towards the operation and maintenance of Leamouth Bridge & Footpath once it is built. The trust has promoted the building of the bridge since 2003. The bridge will connect Trinity Buoy Wharf with Canning Town Station thus making the site much more accessible.

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TRINITY BUOY WHARF TRUST A COMPANY LIMITED BY GUARANTEE WITHOUT SHARE CAPITAL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

13. FUNDS

13. FUNDS
	Balance as				Balance as at
	at 1 January				31 December
	2022	Income	Expenditure	Transfers	2022
	(as restated)
	£	£	£	£	£
Designated funds
Proposed Leamouth Bridge	191,284	-	(5,960)	(75,356)	109,968
and Footpath
	������������������������������������				���������
TOTAL DESIGNATED	191,284	-	(5,960)	(75,356)	109,968
FUNDS
	������������������������������������				���������
Unrestricted fund	43,093	306,547	(424,996)	75,356	-
	������������������������������������				���������
TOTAL UNRESTRICTED	43,093	306,547	(424,996)	75,356	-
	������������������������������������				���������
	������������������������������������				���������
TOTAL	234,377	306,547	430,956	-	109,968
	������������������������������������				���������
	Balance as				Balance as at
	at 1 January				31 December
	2021	Income	Expenditure	Transfers	2021
	(as restated)				(as restated)
	£	£	£	£	£
Designated funds
Proposed Leamouth Bridge	191,284	-	-	-	191,284
and Footpath
	������������������������������������				���������
TOTAL DESIGNATED	191,284	-	-	-	191,284
FUNDS
	������������������������������������				���������
Unrestricted fund	92,896	339,213	(389,016)	-	43,093
	������������������������������������				���������
TOTAL UNRESTRICTED	92,896	339,213	(389,016)	-	43,093
	������������������������������������				���������
	������������������������������������				���������
TOTAL	284,180	339,213	(389,016)	-	234,377
	������������������������������������				���������

The transfer of funds is in relation to the charity’s increased unrestricted expenditure.

14. RELATED PARTY TRANSACTIONS

There have been no related party transactions in the current or prior year.

17