## **HARINGEY SHED LIMITED**
## **(A Company Limited by Guarantee) ANNUAL REPORT AND FINANCIAL STATEMENTS**
**YEAR ENDED 31 MARCH 2022**
**Charity Registration Number 1129641 Registered Company Number 06418531**
**Azets Audit Services Greytown House 221/227 High Street Orpington Kent BR6 0NZ**
**HARINGEY SHED LIMITED (A company Limited by Guarantee) CONTENTS**
||**Page**|
|---|---|
|Reference and Administrative Details|1|
|Chair’s Foreword|2|
|Report of the Directors|3 – 10|
|Independent Examiner’s Report|11|
|Statement of Financial Activities|12 – 13|
|Balance Sheet|14|
|Notes to the Financial Statements|15 – 22|
**HARINGEY SHED LIMITED (A company Limited by Guarantee)**
## **REFERENCE AND ADMINISTRATIVE DETAILS**
|**Patrons**|Rte Hon David Lammy MP|
|---|---|
||Sue Johnston OBE|
||Lindsey Coulson|
|**Directors**|Simon Heale (Chair)|
||Joshua Agada|
||Michael Elwyn|
||Jill Evans|
||Jonathan Jacob|
||Margot Leicester|
||David Poole|
||Barbara Rajkumar|
||David Wilson|
|**Key Management Personnel**|Jim Shepley – Company Secretary and Chief Executive|
||Ashling Foat – Participation Manager|
||Jessica Lovell – Company Manager|
||Eddie Latter – Artistic Director (To September 2021)|
|**Registered Office**|Irish Centre|
||Pretoria Road|
||Tottenham|
||N17 8DX|
|**Independent Examiner**|M A Wilkes FCA|
||Azets Audit Services|
||Greytown House|
||221/227 High Street|
||Orpington|
||Kent BR6 0NZ|
|**Bankers**|Cooperative Bank PLC|
||1 Balloon Street|
||Manchester|
||M60 4EP|
||CAF Bank Ltd|
||25 Kings Hill Avenue|
||Kings Hill|
||West Malling|
||Kent|
||ME19 4JQ|
1
## **HARINGEY SHED LIMITED (A company Limited by Guarantee)**
## **CHAIR’S FOREWORD**
Being asked to write the foreword to another set of annual accounts for Haringey Shed means that we have weathered the most recent storms and consequently are able to continue to do what Haringey Shed does best for all of our young people and the wider community it serves. The past year has not been without some considerable challenges, and I am incredibly thankful to say that we have taken hold of them and are growing from them accordingly. I must thank my fellow trustees for their insight, knowledge, support and confidence over the past 12 months, helping Haringey Shed to become stronger and healthier through this adversity. We know there is still much work to do to embed our organisation even deeper into the community, to help the board become a reflection of this, and for this we continue to strive.
The year has seen us bid a sad farewell to the creative heartbeat of Haringey Shed for 9 years, Artistic Director Eddie Latter, no words can truly convey the impact he has had during his tenure. Thank you for everything that you’ve contributed over the years. We were able to appoint a new Artistic Director, in the young and dynamic Aran Cherkez and on the behalf of the board extend a warm welcome to the Shed family.
More welcome and positive news as the year comes to an end: Haringey Shed will soon return to our home at the Irish Centre after almost two years of absence.
May I extend a huge thank you to our staff team, including Jim Shepley, Ashling Foat and Jessica Lovell for providing the foundation upon which the last year’s work has been made possible.
Thank you too, to all of our funders and supporters, our donors, our parents and carers, our friends, families and of course our young people. We close this current financial year in a stable financial position and as can be seen in the feedback in the following pages from parents and carers over the year, we have been able to extend our essential services to reach more young people in need, to provide support, creativity and a sense of adventure in a time of domestic and global upheaval.
Who knows what the next twelve months will bring us all, but what we do know is that in a small patch of north London, the next generations are being fostered and nurtured through creativity, joy, openness, honesty and trust, and for that we can only be grateful.
**Simon Heale** Chair
Date: 22 September 2022
2
**HARINGEY SHED LIMITED (A company Limited by Guarantee)**
## **REPORT OF THE DIRECTORS**
The Directors present their statutory report with the financial statements of Haringey Shed Limited for the year ended 31 March 2022. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.
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 applicable in the UK (FRS 102) published on 16 July 2014, as amended by bulletin 1 & 2.
## **OBJECTIVE**
The objective of Haringey Shed is to advance the education of children and young people, in particular but not exclusively those who require help with mobility, communication or behaviours, in the performing arts including music, dance and drama in order to encourage their independence and integration into the community.
## **ANNUAL REPORT 2021/2022**
_“Lockdown has been hard but for a child with Autism and Learning disability it has been incredibly difficult to try and understand why everything has stopped. But the team at Haringey Shed have been there all the way to keep the activities going online and provide some form of normality for the child and some peace for us as parents. There positive approach and there entertainment value has been outstanding and I don’t know how the children would have coped without their continuing support. The pure joy on my son's face when it’s time for Haringey Shed on Zoom is priceless. They also are incredibly supportive of their volunteers, my eldest also with Autism and Learning disability, lives alone and has struggled without his volunteering but the staff have contacted me to check on him throughout lockdown and they call him when he is with me to have a catch up. This has done wonders for him and he also was over the moon to talk to the team. I feel that they go over and beyond their duties and it really has made this time much more bearable for all our family” - parent_
The early part of the year saw the resumption of face-to-face activities at Haringey Shed, but with strong restrictions and guidance in place, we limited numbers that could attend, maintained social distancing, kept regular cleaning in place and ensured mask wearing during activities for the over 11yrs. We transitioned into Step 3 of the government’s unlocking plan in May and saw the lifting of legal requirements in June.
_“I don’t think many of us are fans of trying to deliver our activities behind the incredibly restrictive face clothing, but in true Shed fashion we are giving it a whirl. I think I have probably been most guilty of ‘mask moaning’ ”– artistic director_
## **Theatre, Dance and Song**
It’s fair to say that the pandemic had an impact on activities at Haringey Shed. Although the Company continued to work with young people in very creative ways throughout lockdown and the subsequent restrictions, this year has been occupied with re-building our membership base and reinvigorating the programme.
3
**HARINGEY SHED LIMITED (A company Limited by Guarantee)**
## **REPORT OF THE DIRECTORS**
Returning to performance spaces and welcoming back audiences has highlighted the importance of this aspect of our work. Early in the year we found it difficult to find performance spaces, as our venue partners were recovering and slowly getting up and running. This improved very quickly as the year progressed, but also gave us an opportunity to work with a new venue, The McQueen’s Theatre.
_“What an amazing performance!! So wonderful to see something the young people have devised – absolutely fantastic! Brilliant songs and such happy engaged faces – was so wonderful to see my own daughter so involved – incredible stuff” – audience feedback_
Performance highlights during the year include “A House Made of Cards” at The McQueen’s Theatre, “The Magic Circus Show” at the Bernie Grant Arts Centre, “Return of the Jam” at the McQueen’s Theatre, “The 12 Days of Christmas” at Haringey Sixth Form College, “The Merger Mystery” at Bernie Grant Arts Centre. With performance opportunities for over 200 children and young people.
_“Young people performed around issues affecting them, including being left out, calling for acceptance and bullying, sharing their musical passions and awesome dancing. Powerful energy!” - Return of The Jam audience member_
Throughout the year 172 children and young people took part in regular performing arts activities. Developing skills, increasing confidence and building friendships, through holiday projects, children’s and youth theatre, choir and dance. Film projects, animation, theatre trips, creative writing, poetry, music studio album production…and much more.
- _“She loved it so much! - The transformation from someone who was so anxious about going and meeting new people and trying something new was completely incredible - she can’t wait to come again!!” - parent_
## **Youth Voice**
Weekly Youth Forum meetings give young people the opportunity to put forward new ideas and suggestions. This year the group planned several outings and events, including The Return of the Jam and a trip to Thorpe Park, both involving budgeting, fundraising and planning.
_“You are our future leaders and the ones that will keep Shed being the exciting, special and inclusive place that it is. Keep doing the great work and keep coming up with great ideas. Remember - no idea is a bad idea! – trustee_
4
**HARINGEY SHED LIMITED (A company Limited by Guarantee)**
## **REPORT OF THE DIRECTORS**
## **Reaching Out**
This year saw a resurgence of our outreach work in schools overseen by our Participation Manager. The programme worked with almost 700 children and young people across the borough. As well as continuing with long-term schools partner West Green Primary School delivering drama linked to the curriculum and enrichment activities, we establish links with new associates, such as Treehouse - Ambitious About Autism, working alongside their in-house staff to provide movement and drama across the whole school.
Kidstime relocated to Chestnuts Community Centre, where the monthly sessions could accommodate more families and provide better access. The mental health family workshops has continued to grow, supporting 16 families during the year (54 individuals - parents, children and young people). Feedback from both adults and young people is extremely positive across the board, showing a high level of satisfaction and enjoyment. Parents and carers value the opportunity to give and receive support, and to promote learning and understanding around mental health amongst family members. Kidstime provided further support to families beyond the workshop sessions. Examples include: referrals for mental health assessments, support during MH crisis, support with child custody, referrals for housing support. Many of the children and young people have been signposted to take part in other Haringey Shed performing arts programmes.
## **Volunteering, Work Placements and Professional Development**
During the year we were supported by 47 volunteers. In roles including 1:1 support, front of house, photography, set and design and technicians. It was a joy to be back around some volunteers we had not seen in a long time. We noticed how mature and capable some of our volunteers have become. Looking forward to working with them even more. In June our volunteer team were all celebrated with a recognition certificate from the Bridge Renewal Trust.
- _“He finally has friends that he leaves the house to go and meet, his confidence has gone through the roof and he will miss Haringey Shed for nothing. He used to hang out at the house all the time and now is never there. The support and collaborative working has been so good for him. It has become his second home” - parent_
Our creative arts activities programme has provided development opportunities for those pursuing a career in community arts and invaluable work experience in inclusive creative environment. This work creates benefits on so many levels: nurturing the future workforce; bringing new energy to the team; allowing us to support more children and young people; as well as inspiring our young participants to take up creative educational and career progression; and providing positive role models.
5
**HARINGEY SHED LIMITED (A company Limited by Guarantee)**
## **REPORT OF THE DIRECTORS**
_The opportunity to be part of Haringey Shed has been the absolute highlight of my Drama School experience, beyond that it is the place that began shaping me as a practitioner._
_I am extremely thankful for the love, support, joy and experience Shed has brought me.’_ - _placement student, who continued as a volunteer_
## **Achieving**
In July, at the Young Film Makers Premier at London Screen Academy, we presented our young people with Achievement Awards and Ibrahim Farouk won the Leader Award. The awards continue to be a highlight in the calendar and the families are always so thankful for the recognition.
_“I am very proud of A. on winning The Jack Petchey Award, and he couldn't have done it without the great work that Haringey Shed does. Thank you so much to all the staff for their support and hard work throughout these years that A. has attended” - parent_
## **The Shed Team**
September saw the departure of Eddie Latter after eight years at the reins as Artistic Director at Haringey Shed. Eddie leaves behind a lasting legacy through the many productions he created and his support for numerous young people over the years.
The Company is blessed with a remarkably creative and adaptive management team. Although the year has brought its share of challenges for the team to overcome, they have risen to the challenge and taken on additional responsibilities when required. The creative team have inspired young people through their dedication, imagination and resilience.
6
**HARINGEY SHED LIMITED (A company Limited by Guarantee)**
**REPORT OF THE DIRECTORS**
## **Returning Home**
The Irish Centre continued to be ‘out-of-bounds’ for the year and while conversations about returning to our home in N17 continued slowly with our new landlords, we found a temporary base at offices in Wood Green from August so the team could re-group and focus on delivering the summer activities.
- _“We all felt it was important for the team to be able to be back together again in-person, sharing a workspace, being creative and bouncing ideas around”_ – executive director
## **Working together**
It is always a pleasure to reflect on the many partnerships and collaborations that have enabled us to achieve more than we could on our own. Collaboration helps us to share good practice and do more for the children, young people and families we work with.
As we recovered from the pandemic, the arts and voluntary sector were even more reliant on sharing good practice, keeping abreast of changes and ensuring that we are doing all we can to make activities safe for our young performers.
Our thanks to:
|•|Alexandra Palace|•|Haringey Cultural Board|
|---|---|---|---|
|•|Angel Shed|•|Haringey Dance Forum|
|•|BEH Mental Health Trust|•|Haringey Libraries|
|•|Bernie Grant Arts Centre|•|Haringey Sixth Form Collage|
|•|Bridge Renewal Trust|•|Haringey Youth Festival|
|•|Burnley Youth Theatre|•|Jack Petchey Foundation|
|•|Central School of Speech and Drama|•|Jacksons Lane|
|•|Chickenshed|•|London Youth|
|•|Collage Arts|•|The National Youth Agency|
|•|Creates - Cultural Educational|•|Ourtime Foundation|
||Partnership|•|Participatory Arts London (PAL)|
|•|Face Front Inclusive Theatre|•|Stepping Stones|
|•|GOGA (Get Out and Get Active)|•|Streetz Ahead|
|•|Haringey Early Help|•|Team London|
|•|Haringey Council|•|Wave Cafe|
In October, collaborating with Streetz Ahead, Collage Voices, and Jacksons Lane, we revived the Haringey Youth Arts Festival. The workshops schedule was made up of leaders from Haringey groups and ZooNation with support from London Youth. Performance from all groups, with members of our Children’s Theatre performing “Everyone has a Part to Play”, which they helped to write.
_“Although this year’s festival was small in comparison to previous years, we hope to be able to make the 10th festival in 2023 the biggest yet! We will continue to collaborate with our Haringey arts partners pull the festival together”_ – participation manager
## **Funding**
Much has been achieved due to the continued reassurance from our funders that we were able to adapt our outcomes and additional financial support to aid the recovery.
_"We believe that working together at this time to provide assurance and support to civil society is essential during this difficult period for the sector"_ - funder response to Covid-19
We’re extremely grateful for the understanding, support and flexibility of our funders have given us in allowing us to adapt and respond to the needs of our young people and their families during the recent unprecedented years.
7
**HARINGEY SHED LIMITED (A company Limited by Guarantee)**
## **REPORT OF THE DIRECTORS**
## **FINANCIAL REVIEW**
During the year the charity received income totalling £299,839 (2021: £258,715). Expenditure totalled £305,559 (2021: £211,583). The deficit for the year is £5,720 (2021: Surplus of £47,132).
## **Investment policy**
There are no restrictions on the charity’s power to invest and the current policy is to invest in short term funds.
## **Reserve policy**
In order to provide a quality, effective and efficient service to its beneficiaries the Directors have set a reserves level that in the event of funding not being sufficient to cover expenses in the future that a smooth transition can be made to a lower level of service. The Directors have a target of approximately three to six months of budgeted operating expenses, being between £85,000 to £170,000 (2021: £85,000 to £170,000).
Total unrestricted general reserves at 31 March 2022 are £229,977 (2021: £212,403), total restricted funds are £5,000 (2021: £27,488) and designated funds are £2,407 (2021: £3,213).
The Directors will review the reserve policy on an annual basis. The level of reserves are monitored at each Directors’ meeting.
## **STATEMENT ON PUBLIC BENEFIT**
The objectives and activities, and achievement and performance sections of this report clearly set out the activities which the charity undertakes for the public benefit. The Directors confirm that they have complied with the duty in section 4 of the Charities Act 2006 to have due regard to public benefit guidance published by the Commission in determining the activities undertaken by the charity.
## **RISK MANAGEMENT**
The Directors have reviewed the major and financial risks that impact on the work of the charity. The systems that have been established enable the directors to review and take necessary steps to lessen these risks. The Directors consider the following to be the principal risks that the charity faces:
- Major loss of income from donors– risk mitigated by maintaining good donor stewardship procedures, developing and building an effective fundraising plan and monitoring of finances.
- Reputational damage – risk mitigated by regular communications and reports both internally and externally, plus a regular review of all programmes.
- Increased operational costs due to economic crisis (including fuel costs) – mitigated by short term tenancy, no direct supply contracts, access to free reserves to cover short term fluctuations.
- Loss of premises – risk mitigated by maintaining good links with local authority and voluntary sector landlords within the borough.
## **FUTURE PLANS**
A trustee recruitment drive to broaden the diversity of the charity; in our aim to be more inclusive we will actively encourage applications from candidates who share a lived experience of the young people and families we represent in Haringey.
We aim to deepen the connection between young people and the trustee board through our Youth Forum, with more meetings and joint workshops.
Having received regular grant funding from Arts Council England over a number of years, we will be taking the triennial opportunity to pursue attaining Arts Council NPO status.
We have begun conversations with creative learning leads for West End Theatres with a view to developing stronger links and increasing opportunities for our young people.
We will work with Haringey Council to negotiate a new tenancy agreement and make the move back to our base at Pretoria Road, N17.
8
**HARINGEY SHED LIMITED (A company Limited by Guarantee)**
## **REPORT OF THE DIRECTORS**
_“Being part of the Shed community has been such a life-enhancing experience for our family. It’s really special” - parent_
## **GOING CONCERN**
The Board has closely monitored the charities finances during the year and although outgoings have returned to pre-covid levels, this has been balanced with an increase in income. The surplus for the year results in closing unrestricted funds totalling £229,977. A total of £145,576 of funding confirmed for 2022/23. A 12-month budget projects a manageable deficit, which will utilise the charity’s reserves. Cash-flow forecasts are prepared bi-monthly to keep abreast of the financial situation. The budget has been prepared in anticipation that the charity will deliver activities similar to pre-pandemic levels. Therefore, based on all the evidence available to them, the Trustees believe the Charity is a going concern for the foreseeable future.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Structure**
Haringey Shed Limited is a registered charity and a company limited by guarantee, registered in England and governed by a Memorandum and Articles of Association dated 5 November 2007. The liability of each member in the event of winding up is limited to a maximum of £10.
## **Governance and Management**
In accordance with the governing document, there shall be not less than three Directors at any time. The Directors, who are Trustees for Charities Act purposes, are normally elected by the members of the company in a general meeting.
Directors are appointed on the basis of specific skills and knowledge to enable them to make a contribution to the management of the charity. In order for Directors to undertake such responsibilities, appropriate Charity Commission publications, in particular the booklet, “The Essential Trustee : What you need to know” is given to each Director as part of their induction process.
9
**HARINGEY SHED LIMITED (A company Limited by Guarantee)**
## **REPORT OF THE DIRECTORS**
The Directors who served during the year were as follows:
- Simon Heale (Chair)
- Joshua Agada (Appointed 24 Mar 2022)
- Michael Elwyn
- Jill Evans
- Jonathan Jacob
- Margot Leicester
- Mary Ogbewele (Resigned 28 Feb 2022)
- David Poole
- Barbara Rajkumar
- Rachelle Romeo (Resigned 2 Dec 2021)
- David Wilson
## **STATEMENT OF DIRECTORS’ RESPONSIBILITIES**
The Directors, who are Trustees for Charities Act purposes, are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Directors to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, 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;
- observe the methods and principles in the Charities SORP 2015 (FRS 102);
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The Directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Directors on 22 September 2022 and signed on their behalf by:
**Simon Heale David Poole Chairman Director**
10
**HARINGEY SHED LIMITED (A company Limited by Guarantee)**
## **INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS**
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2022 which are set out on pages 12 to 22.
## **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 a member of The Institute of Chartered Accountant England & 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.
## **M A Wilkes (FCA)**
For and on behalf of Azets Audit Services Greytown House, 221/227 High Street Orpington, Kent, BR6 0NZ
10 October 2022
11
**HARINGEY SHED LIMITED (A company Limited by Guarantee)**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022**
## **INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT**
|**Notes**
**Unrestricted**
**funds**
**Restricted**
**funds**
**£**
**£**
**Income from:**
Donations
5,970
-
Charitable activities:
Grants receivable
**2**
29,500
142,977
Outreach fees
24,385
-
Commissioned activities
62,695
-
Other:
Membership subscriptions
9,156
-
Activities for generating funds
5,504
-
Investment income
-
-
CJRS Grant
19,652
-
___________
___________
**Total income**
156,862
142,977
___________
____________
**Expenditure on:**
Raising funds
21,486
-
Charitable activities:
After school programme
86,751
119,732
Holidays and short break project
20,320
29,486
Outreach
11,537
16,247
___________
____________
**Total expenditure**
**3**
140,094
166,965
___________
____________
**Net movement in funds**
16,768
(22,488)
**Funds brought forward at**
**1 April 2021**
215,616
27,488
___________
____________
**Total funds carried forward at**
**31 March 2022**
232,384
5,000
|**Total**
**2022**
**£**
5,970
172,477
24,385
62,695
9,156
5,504
-
19,652
____________
299,839
____________
21,486
206,483
49,806
27,784
____________
305,559
____________
(5,720)
243,104
____________
237,384|**Total**
**2021**
**£**
5,186
132,557
4,550
85,767
3,648
3,156
35
23,816
____________
258,715
____________
17,385
152,509
33,393
8,296
____________
211,583
____________
47,132
195,972
____________
243,104
|
|---|---|---|
All of the charity’s transactions are derived from continuing activities.
The Statement of Financial Activities includes all gains and losses recognised in the year
12
**HARINGEY SHED LIMITED (A company Limited by Guarantee)**
## **COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021**
## **INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT**
|**Notes**
**Income from:**
Donations
Charitable activities:
Grants receivable
**2**
Outreach fees
Commissioned activities
Other:
Membership subscriptions
Activities for generating funds
Investment income
CJRS Grant
**Total income**
**Expenditure on:**
Raising funds
Charitable activities:
After school programme
Holidays and short break project
Outreach
**Total expenditure**
**3**
**Net movement in funds**
**Funds brought forward at**
**1 April 2020**
**Total funds carried forward at**
**31 March 2021**|**Unrestricted**
**funds**
**£**
5,186
-
4,550
85,767
3,648
3,156
35
23,816
___________
126,158
___________
17,385
30,263
6,626
1,646
___________
55,920
___________
70,238
145,378
___________
215,616
|**Restricted**
**funds**
**£**
-
132,557
-
-
-
-
-
___________
132,557
____________
-
122,246
26,767
6,650
____________
155,663
____________
(23,106)
50,594
____________
27,488
|**Total**
**2021**
**£**
5,186
132,557
4,550
85,767
3,648
3,156
35
23,816
____________
258,715
____________
17,385
152,509
33,393
8,296
____________
211,583
____________
47,132
195,972
____________
243,104
|
|---|---|---|---|
13
## **HARINGEY SHED LIMITED (A company Limited by Guarantee)**
## **BALANCE SHEET AS AT 31 MARCH 2022**
|**Company number: 06418531**|||||||
|---|---|---|---|---|---|---|
||**Note**||**2022**||**2021**||
|||**£**|**£**|**£**||**£**|
|**Fixed Assets**|**8**||2,407|||3,213|
|**Current Assets**|||||||
|Debtors|**9**|13,422||50,444|||
|Cash at bank and in hand||259,680||252,770|||
|||____________||____________|||
|||273,102||303,214|||
|**Creditors:**amounts falling|||||||
|due within one year|**10**|(38,125)||(63,323)|||
|||____________||____________|||
|**Net Current Assets**|||234,977|||239,891|
||||_____________||_____________||
|**Net Assets**|||237,384|||243,104|
||||||||
||||____________||____________||
|**Represented by:**|||||||
|Restricted funds|**11**||5,000|||27,488|
|Unrestricted funds:|||||||
|Designated funds|**12**||2,407|||3,213|
|General fund|||229,977|||212,403|
||||____________||____________||
|Total funds|**13**||237,384|||243,104|
||||____________||____________||
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.
The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for:
- (a) ensuring that the charitable company keeps accounting records which comply with Sections 386 and 38 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
Approved by the Board of Directors on 22 September 2022 and signed on their behalf by:
**Simon Heale Chairman**
**David Poole Director**
14
**HARINGEY SHED (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **1. ACCOUNTING POLICIES**
## **a. Basis of preparation**
Haringey Shed is a company limited by guarantee in the United Kingdom. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities are set out on page 3.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK (FRS 102) issued on 16 July 2014, the Financial Reporting Standard applicable in the United Kingdom (FRS 102), the Charities Act 2011, UK Generally Accepted Practice as it applies from 1 January 2015 and the Charity SORP (FRS102) amended for Update Bulletin 1.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
## **b. 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.
Voluntary income including donations and gifts are included in full in the SOFA when receivable.
The charity receives grants in respect of its activities. Income from grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.
Other income includes income earned from fundraising events and activities to raise funds for the charity and membership subscriptions. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.
Investment income is included when receivable.
## **c. Expenditure**
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:
- Costs of raising funds are those costs incurred in attracting voluntary income.
- Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs allocated directly to such activities and those costs of an indirect nature necessary to support them.
Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.
15
**HARINGEY SHED LIMITED (A company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **d. Support costs allocation**
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.
Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.
## **e.**
## **Funds accounting**
Unrestricted general funds are funds which can be used in accordance with the charitable objects at the discretion of the Directors.
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.
Restricted funds are funds that can only be used for particular restricted purposes within the objects of the charity. Restriction arises when specified by the donor or when funds are raised for particular restricted purposes. The Directors have designated certain funds for specific purposes. These are set out in note 13.
## **f.**
## **Tangible fixed assets**
|All assets costing over £500 are capitalised. Tangible fixed assets are stated at cost less depreciation.|
|---|
|Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their|
|estimated residual value, over their expected useful lives as follows:|
|Fixtures, fittings and equipment
- 25% reducing balance|
|Motor vehicles
- 25% straight line|
|Computer Equipment
- 25% reducing balance|
|IT Equipment
- 25% straight line|
## **g. Debtors and creditors receivable / payable within one year**
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
## **h. Going Concern**
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
## **i. Judgements and key sources of estimation uncertainty**
Accounting estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The following judgements (apart from those involving estimates) have been made in the process of applying the above accounting policies that have had the most significant effect on amounts recognised in the financial statements:
## _Useful economic lives of tangible assets_
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 9 for the carrying amount of the property plant and equipment and note 1f for the useful economic lives for each class of assets.
There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
16
**HARINGEY SHED LIMITED (A company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **2. GRANTS RECEIVABLE**
|Arts Council
Bridge Renewal Trust
Children in Need
Gemca
Haringey Council
Henry Smith
Jack Petchey Awards
Kaye Hall Trust
London Youth
Mercers
Sarah Jane Leigh Charitable Trust
Tesco’s Bags of Help
The True Colours
Tottenham Grammar School Foundation
Tottenham Youth Fund
Young Londoners Inspired fund
Youth Music
Anonymous unrestricted grant|**2022**
**£**
1,484
6,440
32,121
1,500
500
28,333
9,499
1,500
-
22,901
5,000
-
-
14,353
345
5,652
14,849
28,000
____________
172,477|**2021**
**£**
-
-
32,121
-
4,000
28,100
3,000
-
900
22,901
-
500
4,800
5,000
-
28,265
2,970
-
____________
132,557|
|---|---|---|
## **3. EXPENDITURE**
|Cost of raising funds
Charitable activities:
After school programme
Holidays & short break project
Outreach|**Staff**
**costs**
**£**
8,924
99,797
21,706
6,865
____________
137,292|**Other**
**direct**
**costs**
**£**
562
91,258
22,957
19,205
___________
133,982|**Support**
**costs**
**£**
12,000
15,428
5,143
1,714
___________
34,285
|**Total**
**2022**
**£**
21,486
206,483
49,806
27,784
___________
305,559|**Total**
**2021**
**£**
17,385
152,509
33,393
8,296
___________
211,583|
|---|---|---|---|---|---|
All costs are allocated between the expenditure categories noted above 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, being, time spent.
17
**HARINGEY SHED LIMITED (A company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
|**4.**
**SUPPORT COSTS**
Rent & service charge
Bookkeeping
Telephone
Office supplies
Staff development and training
Insurance
Computer
Depreciation
Bad debts written off
Sundry expenses
Governance costs – Independent Examination
**5.**
**NET INCOME / (EXPENDITURE) FOR THE YEAR**
Net income / (expenditure) is stated after charging:
Independent Examiner’s Fee
Depreciation|**2022**
**£**
10,428
5,040
1,817
1,647
1,270
2,532
2,161
806
600
2,584
5,400
_____________
34,285
_____________
**2022**
**£**
5,400
806|**2021**
**£**
3,355
5,460
1,896
1,400
225
1,492
1,827
1,182
-
1,299
5,100
_____________
23,236
_____________
**2021**
**£**
5,100
1,182|
|---|---|---|
## **6. TRUSTEE REMUNERATION**
None of the Directors received remuneration or reimbursed expenses during the year (2021: none).
|**7.**
**STAFF COSTS**
Wages and salaries
Employer’s National Insurance
Pension cost
The average monthly number of employees, by
headcount, during the year was:
Direct charitable activities
- Full time
- Part time / sessional|**2022**
**£**
124,656
8,145
4,491
_____________
137,292
_____________
**No.**
1
5
_____________
6
_____________|**2021**
**£**
120,351
7,194
8,891
_____________
120,436
_____________
**No.**
2
4
_____________
6
_____________|
|---|---|---|
No member of staff earned more than £60,000 during the year (2021: None).
The key management personnel comprise of those listed on page 1. The total employments benefits (including employer pension contributions and employers NI) of key management personnel was £129,794 (2021: £127,688).
18
**HARINGEY SHED LIMITED (A company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
|**8.**
**TANGIBLE FIXED ASSETS**
**Musical and**
**studio**
**equipment**
**Office &**
**computer**
**equipment**
**Motor**
**Vehicles**
**£**
**£**
**£**
**COST**
At 1 April 2021
3,105
12,359
29,807
Additions
-
-
-
____________
____________
____________
At 31 March 2022
3,105
12,359
29,807
____________
____________
____________
**DEPRECIATION**
At 1 April 2021
2,975
9,276
29,807
Charge for the year
33
773
-
____________
____________
____________
At 31 March 2022
3,008
10,049
29,807
____________
____________
____________
**NET BOOK VALUE**
**At 31 March 2022**
97
2,310
-
____________
____________
___________
At 31 March 2021
130
3,083
-
____________
____________
**___________**
**9.**
**DEBTORS**
**2022**
**£**
Other debtors and prepayments
7,127
Grants receivable and accrued income
6,295
____________
13,422
____________
**10.**
**CREDITORS**
**2022**
**£**
Trade creditors
1,034
Other creditors
3,691
Accruals and deferred income
33,400
____________
38,125
|**Total**
**£**
45,271
-
____________
45,271
____________
42,058
806
____________
42,864
____________
2,407
____________
3,213
____________
**2021**
**£**
6,537
43,907
____________
50,444
____________
**2021**
**£**
1,370
1,208
60,745
____________
63,323
|
|---|---|
19
**HARINGEY SHED LIMITED (A company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **11. RESTRICTED FUNDS**
|**Current year**
Arts Council
Bridge Renewal Trust
Children in Need
Haringey Council
Henry Smith
Jack Petchey Foundation
Kaye Hall Trust
Mercers
Sarah Jane Leigh Charitable Trust
Tottenham Grammar School Foundation
Tottenham Youth Fund
Young Londoners Inspired Fund
Youth Music|**Balance at**
**01.04.2021**
**£**
13,356
-
-
-
-
-
-
-
-
-
-
14,132
-
____________
27,488|**Income**
**Expenditure**
**Balance at**
**31.03.2022**
**£**
**£**
**£**
1,484
(14,840)
-
6,440
(6,440)
-
32,121
(32,121)
-
500
(500)
-
28,333
(28,333)
-
9,499
(9,499)
-
1,500
(1,500)
-
22,901
(22,901)
-
5,000
-
5,000
14,353
(14,353)
-
345
(345)
-
5,652
(19,874)
-
14,849
(14,849)
-
____________
____________
____________
142,977
(165,465)
5,000|
|---|---|---|
## **Afterschool Programme**
The Mercer’s Company provided the funds to support our Youth Theatre. Youth Music allowed us to deliver band and training band activities, while further support for afterschools activities came from the Tottenham Grammar School Foundation.
## **Holiday Programmes**
Grants from Haringey Council and Tottenham Grammar School Foundation enabled us to extend our reach and provide holiday activities during the summer holidays.
## **Performances**
A grant from Arts Council England along with support from the Mercer’s Company enabled us to stage productions throughout the year.
## **Youth Volunteering and Leadership**
The Young Londoners Inspired Fund from the GLA supported the volunteer programme and Shed Academy training for our young volunteers. The Jack Petchey Foundation funded the youth achievement awards.
## **Core Costs, Staffing and Operations**
Children In Need funded our Artistic Director who oversees the delivery of all of our inclusive activities. A three year fund from The Henry Smith Charity support operational costs and overheads of the charity.
## **Minibus and Transport**
The Sarah Jane Leigh Charitable Trust agreed to support transport and access for young people with disabilities.
20
**HARINGEY SHED LIMITED (A company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **11. RESTRICTED FUNDS (Cont.)**
|**Prior year – 31 March 2021**
**Balance at**
**01.04.2020**
**£**
Tottenham Grammar School Foundation
-
Jack Petchey Foundation
-
Youth Music
11,137
Henry Smith
-
Children in Need
-
Young Londoners Inspired Fund
26,101
London Youth
Arts Council
13,356
The Mercers Company
-
Kaye Hall Trust
-
Haringey Council
-
Tesco’s Bags of help
-
The True Colours
-
____________
50,594
|**Income**
**Expenditure**
**Balance at**
**31.03.2021**
**£**
**£**
**£**
5,000
(5,000)
-
3,000
(3,000)
-
2,970
(14,107)
-
28,100
(28,100)
-
32,121
(32,121)
-
28,265
(40,234)
14,132
900
(900)
-
-
-
13,356
22,901
(22,901)
-
-
-
-
4,000
(4,000)
-
500
(500)
-
4,800
(4,800)
-
____________
____________
____________
132,557
(155,663)
27,488
|
|---|---|
## **12. DESIGNATED FUNDS**
|**Current year**
**Balance at**
**01.04.2021**
**£**
**New**
**Designations**
**£**
**Designations**
**Released**
**£**
Fixed asset reserve
3,213
-
(806)
|**Balance at**
**31.03.2022**
**£**
2,407
|
|---|---|
Designated fixed asset reserves represent the net book value of tangible assets.
|**Prior year**
Fixed asset reserve|**Balance at**
**01.04.2020**
**£**
**New**
**Designations**
**£**
**Designations**
**Released**
**£**
455
3,938
(1,180)
|**Balance at**
**31.03.2021**
**£**
3,213
|
|---|---|---|
21
**HARINGEY SHED LIMITED (A company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **13. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
|Fixed assets
Current assets
Current liabilities
**Comparative Analysis of Net Assets Between Funds**
Fixed assets
Current assets
Current liabilities|**Restricted**
**Funds**
**Unrestricted**
**Funds**
**£**
**£**
-
2,407
5,000
268,102
-
(38,125)
____________
____________
5,000
232,384
____________
____________
**Restricted**
**Funds**
**Unrestricted**
**Funds**
**£**
**£**
-
3,213
27,488
275,726
-
(63,323)
____________
____________
27,488
215,616
|**Total**
**Funds**
**£**
2,407
273,102
(38,125)
____________
237,384
____________
**Total**
**Funds**
**£**
3,213
303,214
(63,323)
____________
243,104
|
|---|---|---|
## **14. COMPANY LIMITED BY GUARANTEE**
The Charity is limited by guarantee and accordingly has no share capital.
The liability guaranteed by each member is £10. At 31 March 2022 the membership was 9 (2021: 10).
## **15. RELATED PARTY TRANSACTIONS**
There were no related party transactions during the year.
## **16. CAPITAL COMMITMENTS**
The charity had committed to purchase a minibus for £38,157. This cost will be fully funded by a restricted grant.
22