Friends of Putney Sehool ofArt& Design Unaudited Financial Statements For the Year Ended 8th September 2024 Charity Number 1131144
Friends of PSAD Back round The Friends of Putney School of Art & Design IPSADI is a registered charity founded in 2009 to carry out educational activity in the field of the arts including organising lectures and masterclasses. The charity also undertakes exhibitions to enable local amateur 3rt15ts to display their work to the general public. Fund raising activities are undertaken to enable PSAD to improve facilities, purchase equipment and develop its library. Trustee Name Clare Frankl-Bertram Damaris Albarran Vicki Garthwaite Nicole Hollingworth Dr Carolyn Mcmillan Sniez Torbarina Role Chair Treasurer Date of a 2015 2023 ointment 2021 2016 2022 Secretary Media Trustees, Re th ort on the Financial Year to 8 Se tember 2024 The accounts for the year ending 2024 reflect a year in which the Friends of Putney School of Art and Design IPSADI carried out a familiar range of activities.. lecture5, workshop5, the Christmas Fair held in the School, and Putney Art, held in the Exchange Shopping Centre. Income from our activities was invested in purchasing new equipment for the school and in merchandise promoting PSAD. The focus this year has been on helping to ensure the success of the new premises in Disraeli Road and developing new opportunities in the main school. In addition the Friends continue supporting the student bursary Scheme to widen access to the School. A comprehensive breakdown of income and expenditure for the year is given in these accounts. Overall 2023124 shows a return to a steady state after the slow period of recoveryfrom the COVID years. The Christmas Fair had a very successful year. Commission on art sales from Putney Art did not achieve the spectacular level of the previous year but it remains a very successful event. Lectures and Workshops show a small return in the accounts, in line with our aim only to break even on these events. This is a fine balancing 3ct dependent on tutor fees and other expenses. The uptake on the workshops has been good, reflecting the quality of tutors we have been able to attract. Pottery workshops are particularly popular. Lectures continue to be successful and popular with good levels of attendance. Merchandising is settling into a steady earner which should show growing returns in the future. Core expenses Iprinting, postage and stationery) continue to reduce with the successful development of social media, our website and email. The balance on reseNes at the yearend was £28,030. Duringthe year we invested £3,518 from our net income in items for the school. We have since spent £14,691 on further items and given substantial undertakings for expenditure in the coming year, all of which will be drawn from our current funds. Details of items acquired and in the pipeline will be reported at the AGM. The bursary scheme is an ongoing commitment to help students on income sUPPOrt. Friends of Putney School of Art & Design Unaudited Financial Statements For the Year Ended 8th September 2024
Friends ol PSAD STATEMENT OF FINANCIALAcfiviTIES FOR THE YEAR ENDING 8° SEPTEMBER 2024 IUNAUDITEDI 08.09.24 Total Funds 08.09.23 Total Fund5 Unrestricted Restricted Funds Funds 11 Incomlng Resour5 Donations MeTnbership Christmas Fair Putney Art Fair Workshops Other events Merchandise GiftAid Totsl reIpts 38 5,626 11,187 7,668 2,888 2,538 368 741 31,054 38 5,626 11,187 7,668 2,888 2,538 368 741 31,054 334 6,092 9,238 11,499 2,675 79 338 674 30,929 (note 11 Inote 21 2) Resour$ Expended Christmas Fair Putney Art Fair Workshops Other events Merchandise Lectures Printing & stationery Website & comms (note 31 Donations Inote 41 Financial costs Trustee expenses (note 51 Totsl charitsble expenditure 3,434 6,116 1,689 I,ioo 1,395 571 604 1,620 4,268 553 145 21,495 3,434 6,116 1,689 I,ioo 1,395 571 604 1,620 4,268 553 145 21,495 4,301 6,727 1,678 (note 11 (note 21 1.056 541 630 1.401 9,603 817 26.754 3) Net ReIpts Interest Income 9,559 339 9,559 339 4,175 77 Totsl Net ReIpts 9,898 9,898 4,252 Friends of Putney School of Art & Design Unaudited Financial Statements For the Year Ended 8th September 2024
Friends of PSAD STATEMENT OF ASSETS AND LIABILITIES AS AT 8" SEPTEMBER 2024 IUNAUDITEDI 08.09.24 08.09.23 Totsl Total Funds Funds Unrestrltted Restrictéd Funds Funds 11 Current Assets Cash at Bank Stock 26,447 1,583 26,447 1,583 16,549 1,144 Totsl Assets 28,030 28,030 17.693 21 Represented by: Opening Cash Balance Total Net Receipts Closing Cash Balance Stock 16,549 9,898 26,447 16,549 9,898 26,447 12,297 4,252 16,549 1,583 28,030 1,583 28,030 1,144 17,693 Totsl Reserves Clare Frankl-Bertram, Chair Oamaris Albarran, Honorary Treasurer Bankers.. HSBC Friends of Putney School ofArt & Design Unaudited Financial Statements For the Year Ended 8th September 2024
Friends of PSAD STATEMENT OF ASSETS AND LIABILITIES AS AT 8" SEPTEMBER 2024 IUNAUDITEDI 08.09.24 08.09.23 Total Total Funds Funds Unrestricted Restricted Funds Funds l) Current Assets Cash at Bank Stock 26,447 1,583 26,447 1,583 16,549 1,144 Total Assets 28,030 28,030 17.693 2) Represented by: Opening Casri 8tilance Tota l Net Receipts Closing Cash Balance Stock 16,549 9,898 26,447 16,549 9,898 26,447 12,297 4,252 16,549 1,583 28,030 1,583 28,030 1,144 17,693 Totsl Reserves Clare Frankl-Bertram, Chair Damaris Albarran, Honorary Treasurer Bankers: HSBC Friends of Putney School of Art & Design Unaudited Financial Statements For the Year Ended 8th se.pte,er 2024
Friends ot PSAD Notes to the Accounts for the ear ended 8 Se tember 2024 Accountin Policies The accounts have been prepared in accordance with applicable accounting standards, the Statement of Recommended Practice, 'Accounting and Reporting by Charities,. issued in March 2005 and the Charities Act 1993. al Basis of Accounting The accounts have been prepared under the historical cost convention and on a cash accounting basis. bl Subscriptions and Donations Subscriptions and donations are taken to income when received. Creditors There were no creditors as at 8 September 2024 Emoluments No trustee or member of the Executive Committee received emoluments in 2023124. Reserves We have adopted a reserves policy in accordance with the Charity Commission's recommendations, currently at a level of c. £5,000. Taxe5 As a charity registered with both the Charity Commission and HMRC we are not subject to income tax. Unrestricted and Restricted Funds Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. There were no restricted funds at the end of the financial year to 8, September 2024. Notes 11 Other events.. The other event held during the year was the sale of works by the artist Gwen 5pence. 21 Merchandise.. Some merchandise sales are included in the income figures for the Christmas Fair1£3641 and Putney Art1£1151, for total sales of £847 for the year. 31 Website & communication5'. This was primarily the new website l£1,0321. 41 t)onations.' Donation5 were principally to PSAD1£3,5181, mainly for a pugmill for the pottery studio costing £2.795. The other donation was a prize of £750 for the winner of a competition to design a sculpture for the fountain in Coronation Gardens. Fyrther donations to PSAD amounting to c.£14,691 were made in October 2024, to pay for A2 presses and equipment forthe Sculpture Studio. 51 Trustee expenses.. In the financial year to 8th September 2023 some of the charitys general expenses were misclassified as trustee expenses. Friends of Putney School of Art & Design Unaudited Financial Statements For the Year Ended 8th September 2024
INDEPENDENT EXAMtNER'S REPORT TO THE TRUSTEES OF FRIENDS OF PUTNEY SCHOOL OF ART AND DESIGN I report on the aLYounts of the charity for the year ended 8th September 2024. which aR set out on pages 3.5. Respective responsibilities of Trustees and Examinpx consider that an audit is not required for this year under sectton 144 of the Clurities Act 2011 (*he It is my responsibility to: • Examine the accounts under section 145 of the Charities Act under section 145 (5) (b) of the Ch8rities Act; and Commissiorn An examiltion includes a review of the accounting reLxJrds kept by the charity and a comparison of the accounts presentsd with those records. It also includes consideration of any unusual items or disclosuR8 in the account& and seeks explanations from yow as truste concerning any such matters. The procedures undertaken do not provide all the evidence that would be required of an audit and consequently no opinion is given as to whether the accounts present a • to keep accounting rerdS in accordance with tion 130 of the Charities Ad; and to prepare accounts which accord with the accounting records and comply with the accounting 2) to wbicty in my Opinio attention sIUld be drawn in onler to enable a proper undeill8 of kj_ iknbF&rd We&veF FCA Friends of Putney School of Art & Design Unaudited Financial Statements For the Year Ended 8th September 2024