FRIENDS OF PUTNEY SCHOOL OF ARY AND DESIGN TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 8th SEPTEMBER 2022 The accounts for the year ending September 2022 reflect a year when the Frlends were able to resume most of thelr usual range of activities. Income from artivities went up to £25,039. compared with £7,046 in the prevlous year and an increase of 25% on our income in the year to September 2019 (the last year before Covid limited activities). The usual in person membershlp drfve took place at the beglnning of the year. Members are now able to pay their subscriptions on-line through the website, directly into the bank as well as by card or cash in person. Membership intome this year was over £5,1)XJ, almost doLtble what was earned last year. The Christrnas fair made a surplus of £3,000 and the Summer exhibition at Putnev Exchange raised over £90CW) in Art Sales and made a surplus of over £2,500. Merchandise continues to sell steadily. There was only one set of workshops during the year which made a modest surplu The Frlends continue to ralse donatlons through Easyfundraisin& Amazon Smile and JustGiving las well as dlrertlyl and have just registered with the Charity Ald Foundation. The Gift Aid of £l,CQO Is on two years of membership fees as the amount for 202012021 dld not come through in time for last year's accounts. The Friends. strategy has been to bulld up funds over the kst few years, But with the re-opening after Covid and, more recently, the opening of the new campus, the Friends have translerred over £21,COJ to the Sehool this year. This has paid for bursarles worth £1,700 in totsl, a defibrillator. lighting on the back stairs, new shelving for the prlnt room. halt the new Macs In the IT sulte, and shelving, lockers and other equipment for the new campus. Further payments have been made for equlpment for the new campus but they did not come through in this accounting year. In addition to supporting the School. our alm is to enhance the experience of the students. Two lectures were or8anised this year. The newsletter Is now available on-line and on the Friendg website which has reduced costs for printing and postage. The Friends organise the end of year party and organlse the prizes. We have Invested in two new Izettle machSnes for taking on-line payments. These do not need to be ¢onnerted to a phone to work which makes them easier and more flexible to use than our other IZEttle machines. They were particularly helpful during the Summer exhibition when m05t payments were made by card. A comprehensive breakdown of income and expenditure for the year is 8iven in notes 2 and 3 to the account. Reserves at the year end were £13,441 compared with £22,034 at year end 2021 and a further £3,500 of support for the new campus is already committed. The purpose of the Charity is to support the Sehool and we have been fulfilling this purpose through our expenditure this year. However. further fundraising 15 essential rf we are to continue to offer support for large purchases. RESERVES POLICY We have adopted a reserves policy in èecordance with the Charity Commission's recommendations, currently at a I vel of c £5,000.
FRIENDS OF PUTNEY SCHOOL OF ART AND DESIGN INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF FRIENDS OF PUTNEYSCHOOL OFART AND DESIGN I report on the accounts of the charity for the year ended 8th September 2022, which are set out on pages 3-7. Respective responsibilities of Tru5tee5 and Examlner The charit5 trustee5 are responsible for the preparation of the accounts. The charitVs trustees consider that an audit 15 not required for this year under sectlon 4312lof the Charities Act 1993 and that an independent examination is needed. It is my responsibility to.. Examine the accounts under sertion 43 of the 1993 Act To follow the procedures laid down in the General Directions given by the Charity Commission under sertion 43171 Ibl of the 1993 Act,. and To state whether particular matters have come to my attention. Basis of independent Examinerfs report My examination was carried out in accordance with the General Directlons Eiven by the Charity Commission. An examination includes a review of the accountinE records kept by the charSty and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or distlosures in the accounts, and seeks explanations from you. as trustees. concerning any such matters. The procedures undertaken do not provide all the evldence that would be required of an audit and consequently no opinion is given as to whether the accounts present a 'true and fair vie and the report is limited to those matters set out in the statement below. Independent Examiners Statement In connection with my examination. no matter has come to my attention: 11 which gives me reasonable cause to believe that in any material respect the requirements.. • to keep accounting records in accordance with section 41 of the 1993 Act; and to prepare accounts which attord wtth the accounting records and comply with the accounting requirements of the 1993 Act have not been met: or 21 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the a£counts to be reached. Richard Chadwick FCA Date
FRIENDS OF PUTNEY SCHOOL OF ART AND DESIGN SUMMARY OF INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 81H SEPTEMBER 2022 Perlod ended 8.9.2022 Perlcd ended 8.9.2021 Notes OPEIIATING INCOME 25,039 7,046 Less expenses Operating IDeficitl/SLErplus Investment Income 33.636 18,5971 12,584 15,5381 8,5931 5,5361 Taxation Net deflcwsurplus on ordinary activities after taxation Retalned surplus brou ht fOnard Retalned surplus carrled forward 185931 15,5361 22,034 27,570 13,441 22,034
FRIENDS OF PUTNEY SCHOOL OF ART AND DESIGN BALANCE SHEET AS AT 8Th SEPTEMBER 2022 Notes As at 8.9.2022 As at 8.9.2021 FIXED ASSETS Tangible assets CURRENT ASSET5 Inventory Debtors Cash In Bank 746 950 12.693 21,082 TOTAL ASSErs 13.439 22,034 CREDITORS Amounts falling due withln one year NET ASSETS ACCUMULATED FUNDS 13,441 22,034 Unrestrlcted fvnd5 22,034 27,570 Net Incomelllossl for perlod 18,5931 15,5361 13,441 22,034
FRIEND5 OF PUTNEY SCHOOLQF ART AND DESIGN NOTES TO THE ACCOUWS FOR YEAR ENDED 8Th SEPTEMBER 2022 I,ACCOUNllNG POLICIES Basls of preparation The account5 have been prepared underthe historical cost conventlon. The accounts have been prepared In accordance wlth appllcable accountin8 St8ndard5, the Statement of Recommended Practl¢e, 'Accounting and Reportin8 by Charltles,. issued in March 21J05 and the Charltles Act 1993. IncomlNd resources Grants. donations and other income recelved are re¢o8ni5ed in the Statement of Flnancial Actlvltles In accordance with the terms attached to the grant or donatlon. Resource5 expended Expendlture has been accounted for on an accruals basis and has been cla55lfled under headlng5 that a88regate costs related to that category. Where costs cannot be (ilrectty attributable to partlcular headin8S they have been allocated to actlvlties on a ba515 constant wlth use of the resources. Investment Income The charity recelves its investment Income 8ros5 £412021- £21 as a re5uk of Its charltable status. Accumulated Funds Unrestrlcted general funds are funds which can be used In accordance wlth the charitsble objectlves at the discretion of the trustees.
FRIENDS OF PUTNEY SCHOOL OF ART AND DESIGN NOTES TO THE ACCOUNTS FOR ThE YEAR ENDED 8th SEPTEMBER 2022 Year ended 8.9.2022 Yearended 8.9.2021 INCOMING RESOURCES Membership fees Donations Workshop Income Lecture Christmas fair Putney Art Merchandise Wlne Sales Mlsc bookldvdl pot sales Gift Aid 5,112 329 1,560 44 6,483 9.571 707 2.764 491 3,412 379 152 1,078 2S,038 7,046 TOTAL RESOURCES EXPENDED Art Sales Putney Art Lecturerfees Workshop expenses Support costs-Printing and Stationery Support costs- Exhibltion and Fundraisln8 Christmas Fair PSAD Bursaries and Equipment Miscellaneous Merchandlse 5,234 500 I,oio 78 300 128 1,661 3,070 21,031 1,522 820 9,757 57 33,636 11584 There were no employees during the year and no professional cost5
FRIENDS OF PUThEY SCHOOLOF ART AND DESIGN NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 8thsEPTEMBER 2021 Year ended 8.9.2022 Yearended 8.9.21 INVESTMENT INCOME Bank Interest TAXATION No tax is due- charity TRUSTEES, REMUNERATiON Expenses 8,434 128 No remuneration directly or indirectly out of the fund5 of the Charlty was pald or payable durlng the perlod to any trustees or to any persons known to be connected with any of them. Otherthan set out above no relmbursement of expenses has been made or is due to be made to any of the tn15tees In repose of the period. Number of Trustees INVENTORY Merchandise In stock at ear end 746 950