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← Haringey Shed Limited

2024-03-31-accounts

HARINGEY SHED LIMITED

(A Company Limited by Guarantee) ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024

Charity Registration Number 1129641 Registered Company Number 06418531

Azets Audit Services River House 1 Maidstone Road Sidcup Kent DA14 5RH

HARINGEY SHED LIMITED (A company Limited by Guarantee) CONTENTS

Page
Reference and Administrative Details 1
Chair’s Foreword 2
Report of the Directors 3 – 9
Independent Examiner’s Report 10
Statement of Financial Activities 11 – 12
Balance Sheet 13
Notes to the Financial Statements 14 – 21

HARINGEY SHED LIMITED (A company Limited by Guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS

Patrons Rte Hon David Lammy MP (To 4 July 2024)
Sue Johnston OBE
Lindsey Coulson
Directors Jonathan Jacob - Chair
Joshua Agada
Michael Elwyn
Francesca Garforth
Conor Hunt
Louise Lear
Margot Leicester
David Poole
Barbara Rajkumar
Juliette Tive-Hive
Nathan Tuft
David Wilson
Key Management Personnel Jim Shepley – Company Secretary and Chief Executive
Ashling Foat – Participation Manager
Jessica Lovell – Company Manager
Aran Cherkez – Artistic Director
Registered Office Irish Centre
Pretoria Road
Tottenham
N17 8DX
Independent Examiner M A Wilkes FCA
Azets Audit Services
River House
1 Maidstone Road
Sidcup
Kent DA14 5RH
Bankers Cooperative Bank PLC
1 Balloon Street
Manchester
M60 4EP
Metro Bank
One Southampton Row
London
WC1B 5HA

1

HARINGEY SHED LIMITED (A company Limited by Guarantee)

CHAIR’S FOREWORD

It has been a real honour to serve as the Chair of this amazing charity, which has gone from strength to strength over the past year. I am delighted to share our latest report with you, highlighting the incredible achievements and milestones we've reached. Our "Dare to Dream" programme of events, shows, and activities has truly been remarkable, bringing together our creative projects and showcasing the talents of our young people.

This year, we have worked with more professional theatre companies and practitioners, as well as community partners, than ever before. Their collaboration has breathed new life into Haringey Shed, infusing it with fresh, innovative ideas. Haringey Shed has been, and always will be, a creative safe haven for young people in Tottenham, Haringey, and North London. Our wide range of activities, performance opportunities, social and volunteer experiences, and outreach initiatives have firmly embedded us into the fabric of the community.

We are particularly excited about our collaboration with colleagues across the community as we prepare for the forthcoming London Borough of Culture in 2027. The plans in store promise to be extraordinary, and we can’t wait to see how they unfold. This partnership underscores our commitment to fostering creativity and inclusion, ensuring that the arts remain accessible to all. Equally, the team are shaping up plans for our forthcoming 25th Anniversary in 2025.

As is often the case with small charities, none of the work we do and the impact we make in Haringey would be possible without the support of our funders. I want to take a moment to thank the funding bodies, trusts, and organisations that support our mission of creating inclusive and safe environments for young people. Your generosity and belief in our vision are deeply appreciated.

Attending the recent youth theatre show was a poignant reminder of why we do what we do. I spoke with a mother who shared how important Haringey Shed is to her family. Her daughter eagerly looks forward to coming to Shed each week, finding joy and a sense of belonging here. This sentiment is echoed by so many others in our community, highlighting the vital role we play in the lives of young people and their families.

We hope you enjoy our annual report and thank you for your continued support. Whatever the future holds, I am confident that with a group of hardworking individuals, a cohort of creative young people, and the support of our amazing partners and funders, Haringey Shed will continue to deliver outstanding, creative, and much-needed work in Haringey. Together, we will keep fostering creativity and inclusivity in everything we do.

Jonathan Jacob Chair

Date:26 September 2024

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 2024. 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 Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

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 2023-2024: Dare to Dream

This year's report highlights Haringey Shed's commitment to empowering young people and fostering their creativity. Haringey Shed provided a platform for young people to explore aspirations and develop their artistic talents whilst building valuable life skills.

Our Productions: A Season of Imagination and Exploration

This year, Haringey Shed proudly presented a diverse and captivating season of productions, each one a testament to the creativity and dedication of our young performers and creative team.

3

HARINGEY SHED LIMITED (A company Limited by Guarantee)

REPORT OF THE DIRECTORS

A Year of Exploration and Growth: Weekly and Holiday Activities

Children's Theatre : Engaging young minds through imaginative storytelling and theatrical exploration.

Youth Theatre : Providing a platform for teenagers to develop their acting and performance skills in a collaborative environment.

Music Making : Offering opportunities for young people to explore their musical talents and experiment with various instruments.

Shed Moves Dance : Encouraging movement and creative expression through dynamic dance sessions.

Big Noise Choir : Developing young people's vocal abilities and fostering a sense of community through group singing.

The Young Adults Acting Company offered a dedicated space for young adults to delve deeper into acting techniques and stage presence.

New in 2023 : The Writers' Room provided a space for young people to hone their writing skills in various styles, from scriptwriting to spoken word poetry. This programme encourages young people to express their ideas and bring their creative visions to life.

Empowering Youth Leadership : The Youth Forum played a crucial role in shaping the programme. Members contributed by designing evaluation forms, planning exciting trips like seeing "Little Big Thing" in the West End, and even planned and hosted Shed Jam, our annual showcase of youth talent

4

HARINGEY SHED LIMITED (A company Limited by Guarantee)

REPORT OF THE DIRECTORS

Reaching Out: Expanding Our Impact

Haringey Shed's commitment extends beyond our core performing arts programmes. This year, we actively reached out to engage new audiences and address specific community needs through our outreach initiatives.

Inclusive Work with Schools : We believe that the arts have the power to enrich lives and foster understanding. This year, we continued to expand and develop collaborative projects with local schools, aiming to create inclusive and engaging experiences for all students. These projects provided opportunities for self-expression, exploration of identity, and celebration of diversity within the school environment.

Storytime with Haringey Shed : Funded by Haringey Council, this programme brought interactive storytelling sessions to libraries across Haringey during October half-term. Celebrating Black History Month, we used children's books by Black authors to spark conversations about diversity and inclusion.

Home Educating Families : Recognising the unique needs of home-schooled children, we developed bespoke full-day sessions, including an introduction to filmmaking workshop, to provide enriching and engaging experiences.

Safer Neighbourhood Project: In collaboration with MOPAC, we delivered a drama project within secondary schools in Haringey. This project tackled the important theme of healthy relationships, aiming to prevent hate crime, reaching 250 young people.

Pathways to Success (P2S): This programme empowers our dedicated volunteers with disabilities by offering them opportunities to develop their skills and gain experience. P2S volunteers meet weekly, participate in local exhibitions and events, and hone their presentation skills, becoming valuable assets to both Haringey Shed and the wider community.

Beyond the Stage: Adventures and Mental Wellness at Our Annual Residential

Our annual residential trip remains a highlight for our young people, and this year was no different! We took 20 participants on an exciting journey to London Youth's Hindleap Warren Outdoor Adventure Centre in Sussex. Laughter and a few triumphant tears filled the air as they challenged themselves and conquered their fears. This year, we placed a special emphasis on mental well-being, incorporating engaging activities that sparked open discussions and explorations of mental health. This holistic approach aims to foster personal growth and create a lasting impact on our young participants.

5

HARINGEY SHED LIMITED (A company Limited by Guarantee)

REPORT OF THE DIRECTORS

Kidstime: Breaking the Stigma of Mental Illness

Haringey Shed's Kidstime programme provided vital support for 28 families experiencing enduring mental illness. We understand the importance of building trust and overcoming initial hesitation, which is why our co-ordinator invests time in one-on-one sessions and phone calls to create a welcoming environment.

This year, we're proud to report a strong core of 10 families who consistently participated in our workshops. These families not only benefited from the therapeutic activities but also forged connections with others facing similar challenges.

Kidstime's commitment extends beyond the programme space. In August, we facilitated a family summer trip to Whipsnade Zoo. The outing provided a valuable opportunity for families to bond, create lasting memories, and experience the joy of being together in a supportive community.

Collaboration: Partnerships that Empower

Haringey Shed wouldn't be what it is today without the support of our incredible collaborators. This year, we were fortunate to partner with a diverse range of organisations, each bringing unique strengths and expertise to the table. Through these collaborations, we were able to offer even richer experiences for our young people:

Haringey Shed's is grateful for the unwavering support of our incredible collaborators. Highlights included:

Saddler's Wells Making Moves: This exciting program engaged 50 schools and youth groups, including Haringey Shed. Working alongside professional choreographers like Alesandra Seutin, our young people had the chance to create original dance pieces, fostering creativity and igniting a passion for dance.

6

HARINGEY SHED LIMITED (A company Limited by Guarantee)

REPORT OF THE DIRECTORS

Feast at Alexandra Palace: Celebrating the artistic tapestry of the borough, this vibrant event brought together a multitude of organisations, including Haringey Shed. Our young performers took part in the production, showcasing their talent in front of an audience of 250, fostering a sense of community and belonging.

"We loved collaborating on this project as it's a wonderful way for our young people to meet others within the borough and get the chance to perform their work." - Artistic Director

Jack Petchey North London Awards Night & Glee Club : the Jack Petchey Awards Night provided a platform for our young people to shine. Held at The Shaw Theatre, this celebration recognised exceptional achievements of 12 Haringey Shed members. Furthermore, 40 of our young people joined the Jack Petchey Glee Club, participating with arts clubs from across London. Through rehearsals and a culminating performance, they had the opportunity to collaborate with their peers, build connections, and celebrate the power of shared creativity.

We extend our heartfelt gratitude to each of our collaborators for their contribution and support. Together, we are making a significant impact on the lives of young people in Haringey.

“ I honestly am speechless. What an amazing evening. It was just pure joy. Thank you for the invitation and thank you for sharing Shed's continued passion for advocating and promoting creative young voices to the community” – audience feedback

FINANCIAL REVIEW

During the year the charity received income totalling £278,193 (2023: £292,415). Expenditure totalled £318,702 (2023: £301,259). The deficit for the year is £40,509 (2023: deficit of £8,844).

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

The Directors have reviewed the charity’s reserve levels, in light of future known income streams, increases in cost of living, a more competitive funding environment and a reduction in multi-year funding streams.

In order to protect the charity from possible future cash-flow crisis and maintain an efficient service to its beneficiaries the Directors have set a reserves level of approximately nine to twelve months of budgeted operating expenses, being between £219,000 to £289,000 (2023: between £228,750 to £305,000).

Total unrestricted general reserves at 31 March 2024 are £145,596 (2023: £191,328), total restricted funds are £19,695 (2023: £6,000) and designated funds are £22,740 (2023: £31,212).

The Directors will review the reserve policy on an annual basis. The level of reserves are monitored at each Directors’ meeting.

7

HARINGEY SHED LIMITED (A company Limited by Guarantee)

REPORT OF THE DIRECTORS

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:

FUTURE PLANS

Looking ahead, we're committed to building upon our existing work in performing arts. This will allow us to continue making a positive impact on the community and fulfilling our mission of improving young people's lives. This year, as we approach our 25th anniversary, our focus will be on:

….. developing youth voice within the organisation and encouraging young people to contribute their ideas to shaping their local community

….. working with new partners to broaden our offer to young people

….. continuing to shine a light on mental health and well-being, to provide young people with tools to make them more resilient

….. broadening the diversity of the leadership to be more inclusive, broaden the skills and the knowledge base and to reflect the diversity of young people and families we work with

GOING CONCERN

The Board has closely monitored the charity’s finances during the year to maintain the charity’s activity levels, manage the forecast deficit down by improving funding levels during the year. The activity for the year results in closing unrestricted funds totalling £163,096. A total of £136,296 of funding confirmed for 2024/25. A 12-month budget projects a manageable deficit, which will draw on the charity’s reserves, unless additional funding is secured. The Trustees have maintained their conservative reserves policy in light of this. 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 level to previous years. 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.

8

HARINGEY SHED LIMITED (A company Limited by Guarantee)

REPORT OF THE DIRECTORS

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.

The Directors who served during the year were as follows:

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:

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 26 September 2024 and signed on their behalf by:

Jonathan Jacob Chair

Joshua Agada Director

9

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 2024 which are set out on pages 11 to 21.

Responsibilities and basis of report

As the charity trustees of the company (who are also the directors of the company 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 for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

The company’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of The Institute of Chartered Accountant England & Wales.

I have completed my examination. I confirm that no material 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 such records; or

  2. the accounts do not comply with relevant accounting requirements under 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

  3. the accounts have not been prepared in accordance with the Charities SORP (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 River House, 1 Maidstone Road Sidcup, Kent, DA14 5RH

Date: 1 October 2024

10

HARINGEY SHED LIMITED (A company Limited by Guarantee)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT

Notes
Unrestricted
funds
Restricted
funds
£
£
Income from:
Donations
5,642
-
Charitable activities:
Grants receivable
2
28,000
145,075
Outreach fees
47,579
-
Commissioned activities
36,549
-
Membership subscriptions
9,558
-
Activities for generating funds
5,790
-
Investment income:
Bank interest
-
-
Other income:
Gain on disposal of fixed assets
-
-
__
__
Total income
133,118
145,075
__
_
Expenditure on:
Raising funds
25,369
-
Charitable activities:
After school programme
117,902
95,645
Holidays and short break project
28,567
23,175
Outreach
15,484
12,560
__
_
Total expenditure
3
187,322
131,380
__
_
Net movement in funds
(54,204)
13,695
Funds brought forward at
1 April 2023
222,540
6,000
__
_
Total funds carried forward at
31 March 2024
168,336
19,695

 Total
2024
£
5,642
173,075
47,579
36,549
9,558
5,790
-
-
__
278,193
_
25,369
213,547
51,742
28,044
___
318,702
__
(40,509)
228,540
____
188,031		 Total
2023
£
16,389
185,224
37,800
36,549
10,811
1,122
270
4,250
__
292,415
_
23,698
199,518
48,523
29,520
___
301,259
__
(8,844)
237,384
____
228,540

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

11

HARINGEY SHED LIMITED (A company Limited by Guarantee)

COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT

Notes
31 MARCH 2023
Income from:
Donations
Charitable activities:
Grants receivable
2
Outreach fees
Commissioned activities
Membership subscriptions
Activities for generating funds
Investment income – Bank Interest
Other income:
Gain on disposal of fixed assets
CJRS Grant
Total income
Expenditure on:
Raising funds
Charitable activities:
After school programme
Holidays and short break project
Outreach
Total expenditure
3
Net income / (expenditure)
Transfer between funds
Net movement in funds
Funds brought forward at
1 April 2022
Total funds carried forward at
31 March 2023		 Unrestricted
funds
£
16,389
28,000
37,800
36,549
10,811
1,122
270
4,250
-
__
135,191
_
23,698
107,148
26,058
17,131
__
174,035
_
(38,844)
29,000
__
(9,844)
232,384
__
222,540
 Restricted
funds
£
-
157,224
-
-
-
-
-
-
-
__
157,224
_
-
92,370
22,465
12,389
__
127,224
_
30,000
(29,000)
_
1,000
5,000
______
6,000
 Total
2023
£
16,389
185,224
37,800
36,549
10,811
1,122
270
4,250
-
__
292,415
_
23,698
199,518
48,523
29,520
_
301,259
__
(8,844)
-
_
(8,844)
237,384
_
228,540

12

HARINGEY SHED LIMITED (A company Limited by Guarantee)

BALANCE SHEET AS AT 31 MARCH 2024

Company number: 06418531
Note 2024 2023
£ £ £ £
Fixed Assets 8 22,740 31,212
Current Assets
Debtors 9 23,692 21,093
Current asset investments 115,000 -
Cash at bank and in hand 101,140 228,343
______ ______
239,832 249,436
Creditors:amounts falling
due within one year 10 (74,541) (52,108)
______ ______
Net Current Assets 165,291 197,328
_______ _______
Net Assets 188,031 228,540
______ ______
Represented by:
Restricted funds 11 19,695 6,000
Unrestricted funds:
Designated funds 12 22,740 31,212
General fund 145,596 191,328
______ ______
Total funds 13 188,031 228,540
______ ______

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for:

Approved by the Board of Directors on 26 September 2024 and signed on their behalf by:

Jonathan Jacob Chair

Joshua Agada Director

13

HARINGEY SHED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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 and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

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:

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

14

HARINGEY SHED LIMITED (A company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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 £1,000 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 are 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.

15

HARINGEY SHED LIMITED (A company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2. GRANTS RECEIVABLE

Arts Council
Backstage Trust
Children in Need
Global Charities
Haringey Council
Haringey Safer Neighbourhood Board
Henry Smith
Jack Petchey Awards
John Horniman’s Childrens Trust
Our Time Foundation
Sarah Jane Leigh Charitable Trust
Tottenham Grammar School Foundation
Wates Family Enterprise Trust
Youth Music
Anonymous grants		 2024
£
41,825
10,000
-
4,956
5,600
-
-
5,620
2,500
-
27,510
20,328
5,960
19,976
28,800
______
173,075
 2023
£
9,000
-
33,730
-
10,000
3,000
14,400
10,858
2,500
12,000
30,000
19,857
-
11,879
28,000
______
185,224

3. EXPENDITURE

Cost of raising funds
Charitable activities:
After school programme
Holidays & short break project
Outreach		 Staff
costs
£
9,430
105,454
22,936
7,254
______
145,074		 Other
direct
costs
£
544
88,299
22,208
18,591
_____
129,642		 Support
costs
£
15,395
19,794
6,598
2,199
_____
43,986
 Total
2024
£
25,369
213,547
51,742
28,044
_____
318,702		 Total
2023
£
23,698
199,518
48,523
29,520
_____
301,259

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.

16

HARINGEY SHED LIMITED (A company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

4.
SUPPORT COSTS

Rent & service charge
Bookkeeping
Telephone
Office supplies
Staff development and training
Insurance
Computer
Depreciation
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		 2024
£
10,529
5,760
2,033
3,409
450
2,341
1,577
8,472
3,055
6,360
___
43,986
_____
2024
£
6,360
8,472
 2023
£
14,556
5,460
1,787
3,122
1
2,053
1,208
3,277
4,698
5,940
___
42,102
_____
2023
£
5,940
3,277

6. TRUSTEE REMUNERATION

None of the Directors received remuneration or reimbursed expenses during the year (2023: 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		 2024
£
131,611
7,187
6,276
___
145,074
__
No.
3
3
_
6
____		 2023
£
117,746
6,445
5,508
___
129,699
__
No.
3
3
_
6
____

No member of staff earned more than £60,000 during the year 2024: None (2023: 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 £133,641 (2023: £128,196).

17

HARINGEY SHED LIMITED (A company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

8.
TANGIBLE FIXED ASSETS
Musical and
studio
equipment
Office &
computer
equipment
Motor
Vehicles
£
£
£
COST
At 1 April 2023
3,105
12,359
32,082
__
_
_
At 31 March 2024
3,105
12,359
32,082
__
_
_
DEPRECIATION
At 1 April 2023
3,032
10,628
2,674
Charge for the year
18
433
8,021
__
_
_
At 31 March 2024
3,050
11,061
10,695
__
_
_
NET BOOK VALUE
At 31 March 2024
55
1,298
21,387
__
_
__
At 31 March 2023
73
1,731
29,408
__
_
_____
9.
DEBTORS
2024
£
Other debtors and prepayments
3,322
Grants receivable and accrued income
20,370
___
23,692
__
10.
CREDITORS
2024
£
Trade creditors
391
Other creditors
1,211
Accruals and deferred income
72,939
____
74,541
 Total
£
47,546
__
47,546
_
16,334
8,472
_
24,806
__
22,740
_
31,212
_
2023
£
1,893
19,200
__
21,093
_
2023
£
-
971
51,137
___
52,108

18

HARINGEY SHED LIMITED (A company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

11.
RESTRICTED FUNDS
Current year
Afterschool programme
Holiday programmes
Performances and Outreach
Youth Achievements and Residential
Trips
Volunteer Development and 1:1
Support
Minibus and transport		 Balance at
01.04.2023
£
-
6,000
-
-
-
-
______
6,000
 Income
Expenditure
Transfers
Balance at
31.03.2024
£
£
£
£
38,671
(38,671)
-
-
24,575
(30,575)
-
-
54,753
(35,058)
-
19,695
14,576
(14,576)
-
-
10,000
(10,000)
-
-
2,500
(2,500)
-
-
__
_
___
______
145,075
(131,380)
-
19,695

Funding Impact: Empowering Young People Through Diverse Programmes

Haringey Shed is deeply grateful for the generous support of our funders, whose contributions enable us to deliver a wide range of enriching programmes for young people in our community:

Afterschool Programmes:

Holiday Programmes:

Performances and Outreach:

Youth Achievements and Residential Trips:

Volunteer Development and 1:1 Support:

Minibus and Transport:

19

HARINGEY SHED LIMITED (A company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

11. RESTRICTED FUNDS (Cont.)

Prior year – 31 March 2023
Afterschool programme
Holiday programmes
Performances and Outreach
Youth Achievements and Residential
Trips
Core costs, staffing and operations
Minibus and transport
12.
DESIGNATED FUNDS
Current year
Fixed asset reserve		 Balance at
01.04.2022
£
-
-
-
-
-
5,000
__
5,000
____
Balance at
01.04.2023
£
31,212
 Income
Expenditure
Transfers
Balance at
31.03.2023
£
£
£
£
18,889
(18,889)
-
-
23,232
(17,232)
-
6,000
29,615
(29,615)
-
-
10,858
(10,858)
-
-
48,130
(48,130)
-
-
26,500
(2,500)
(29,000)
-
__
_
_
__
157,224
(127,224)
(29,000)
6,000
_
_
__
____
New
Designations
£
Designations
Released
£
Balance at
31.03.2024
£
-
(8,472)
22,740

Designated fixed asset reserves represent the net book value of tangible assets.

Prior year
Fixed asset reserve		 Balance at
01.04.2022
£
New
Designations
£
Designations
Released
£
2,407
32,082
(3,277)


 Balance at
31.03.2023
£
31,212

20

HARINGEY SHED LIMITED (A company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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
£
£
-
22,740
19,695
220,137
-
(74,541)
__
_
19,695
168,336
_
__
Restricted
Funds
Unrestricted
Funds
£
£
-
31,212
6,000
243,436
-
(52,108)
_
_
6,000
222,540

 Total
Funds
£
22,740
239,832
(74,541)
__
188,031
_
Total
Funds
£
31,212
249,436
(52,108)
___
228,540

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 2024 the membership was 9 (2023: 9).

15. RELATED PARTY TRANSACTIONS

There were no related party transactions during the year.

21