PROTÉGÉ DNA FINANCIAL STATEMENTS 30 June 2021
Registered Charity No. 1139004 Company No. 06933072
PROTÉGÉ DNA FINANCIAL STATEMENTS YEAR ENDED 30 June 2021
| CONTENTS | PAGE |
|---|---|
| Legal and administrative details | 2 |
| Report of the Trustees | 3 - 7 |
| Independent Examiners report | 8 |
| Statement of Financial Activities | 9 |
| Balance Sheet | 10 |
| Notes to the financial statements | 11 - 14 |
Page 2
PROTÉGÉ DNA
LEGAL AND ADMINISTRATIVE DETAILS
DIRECTORS/TRUSTEES Paul Brooking (Chairman) Sabita Kumari-Dass Barbara Harris Candida McCabe COMPANY SECRETARY Paul Brooking PRINCIPAL ADDRESS 10 Market Place Brentford Middlesex TW8 8FL REGISTERED OFFICE 6 Upper Butts Brentford Middlesex England TW8 8DA REGISTERED CHARITY No . 1139004 COMPANY NUMBER 06933072 ACCOUNTANTS Haines Watts Chartered Accountants Aissela 46 High Street Esher Surrey KT10 9QY
Page 3
PROTÉGÉ DNA REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021
The trustees who are directors of the company submit their annual report and financial statements for the year ended 30 June 2021.
Object of the Charity
The Company is constituted as a charity and is limited by guarantee. The main objective of the charity is to advance the education and development of young people, in particular those who are excluded from mainstream education and those who have been otherwise marginalised or disadvantaged, by providing them with non-institutional and personalised learning programmes to better meet their individual needs and cultivate their potential.
Protégé is about valuing difference. Our core purpose is to provide tailored learning for divergent and disadvantaged young people who are struggling to benefit from conventional learning – young people who feel their ‘difference’ is treated as a negative rather than a positive thing in the mainstream education system.
The Protégé methodology is continually refined and evolved by the collaborative DNA of artists and marginalised young people working together to create meaningful learning and training opportunities that enable participants to engage in the programme on their own terms, and to the extent that fits with other demands on their time, physical stamina, mental state, personal caring and other responsibilities. Outside of the programme, these young people lead troubled lives, they negotiate complex and conflicting demands on a daily basis. These demands can separate them from their peer group, from the luxury of childhood and childlike experiences and crucially - from aspiration.
These same demands can force children into premature adulthood for which they have had little preparation and no support. The unique value of the Protégé methodology is that students interests and needs define the starting point for their learning journey and personal curriculum. We design flexibility into our ethos and activities in ways that are productive on a short and long-term basis for the young person and sustainable for our organisation.
Within the remit of this mission Protégé views young people’s difference as an asset rather than a deficit of their character – the charity nurtures and develops uniqueness – valuing it as a raw material, that with trust and support, young people can learn to self-direct towards creative goals and productive outcomes.
Protégé creates peer-supported learning environments in which young people from diverse backgrounds can engage in high quality artistic and creative experiences to develop their competencies and capabilities. They learn skills that address their prior under-attainment. These skills can be vocational, art-form specific, transactional and transferable.
Addressing Need
Young people who enrol at Protégé often describe their lives as being ‘out of control’. They say that school exclusion makes them feel ‘invisible’ and ‘ignored’ because it separates them from peers and deprives them of positive and formative childhood experiences that are so important on the journey to becoming a well-rounded adult.
Our aim is to continually identify where the greatest areas of need are, and to respond to this need in consultation with beneficiaries and referring partners. This approach allows us to continue delivering refined, targetted support that is responsive to the changing needs of long-term beneficiaries, but also to ensure we work with referring partners to understanding the emerging and urgent needs of the under-served and most-in-need young people in the boroughs we work in. This approach has led to new work with migrant and refugee referrals and mental health referrals experiencing a range of issues including gender identity, abuse and body dysmorphia. Our resources are focussed on designing activities that help the young person regain a sense of control through creative pursuits to get their life progressing again in a positive direction.
Protégé’s evaluation work with young people over ten plus years evidences that school exclusion can trigger a spiral of decline into other issues including poor mental and physical health, unplanned pregnancy, substance abuse and dependency, involvement in crime, long-term economic hardship. All of this can lead a young person into a mental culde-sac.
We tailor projects that help students who are under-attaining and excluded to regain motivation and catch up. Many come to Protégé after other provisions have failed. They are described by their referring agencies as ‘hard-to-reach and
Page 4
PROTÉGÉ DNA
REPORT OF THE TRUSTEES -continued FOR THE YEAR ENDED 30 JUNE 2021
impossible-to-teach’. We reject off-the-shelf solutions and focus on individually progressive pathways to reveal that this negative description need not be true, and that the disillusioned mindset can be reversed.
The need for Protégé’s work is evidenced in our own evaluation work, and publicly in research in the education, health, justice and social welfare sectors, and by influential organisations like NSPCC, The Children’s Society, Open University and Joseph Rowntree Foundation.
Programme of Work
During this accounting period Protégé sought to reschedule projects and direct activities with young people that had been disrupted or delayed in the previous accounting period due to lockdowns caused by the Covid-19 pandemic. Protégé’s immediate focus during this emergency was for the wellbeing of our cohort – the majority of whom are already severely isolated even before the pandemic. Our priority was to get one-to-one participants back on track and to ensure that group projects were delivered in safe, socially distanced ways.
We aimed to minimise disruption and were able to use the lockdown periods to migrate our website to a new server and to adapt all content to a more bespoke functionality. After ten years of old technology the navigation features had become obsolete and were in serious need of updating in line with industry standards and user need. This enabled us to enhance our digital capacity to support different delivery mechanisms, and in so doing to increase our resilience in the event of future pandemics or other uncertainty. This is a long-term programme of work supported by current funders and emergency funding grants.
During this accounting period we secured grants for core work and new work. From July 2020 our day-to-day work was temporarily delivered in different ways due to a move from Gunnersbury House Museum to our new gallery/studios at Market Place, Brentford.
In line with our strategic ambitions we have started to secure new partnerships that enable us to work with more diverse areas of need, and emerging/urgent needs resulting from wider social change or upheaval in young people’s lives. This has included more mental health referrals and young people facing challenges around gender identity and reassignment. While we are committed to previous types of need, we recognise that our size and scale means we are well placed to respond quickly to tailoring support for complex young people, who have generally struggled to settle into, or benefit from other more rigid provisions in the borough.
To support these developments we have refreshed our own induction and training, as well as sourcing highly recommended courses by other relevant organisations such as the NSPCC.
New referrals have included recently arrived refugees and migrants from various refugee support services in west London including West London Welcome and Hounslow Refugee Support; under-attaining young people from EAP, Ealing, Ellen Wilkinson High School, Elthorne Park High School and St Paul’s private school; mental health referrals from hospital schools including Chelsea and Westminster Hospital; and self-referring individuals via various routes including local schools, PRU’s and word of mouth.
Each year that the Protégé experiment becomes more established brings exciting opportunities for fertile new partnerships to add to the already formidable list.
Existing partnerships with Ealing Alternative Provision, College Park Specialist School and Kew Gardens Community were reinforced by new partnerships eg Hounslow Library, Watermans Arts, The British Library.
Page 5
PROTÉGÉ DNA REPORT OF THE TRUSTEES - continued FOR THE YEAR ENDED 30 JUNE 2021
Protégé aims to form strategic partnerships that generally fall into the following categories:
-
Funding partnerships ie grant funding to support our core education, bespoke training and targetted project-specific work for excluded young people.
-
Resource Sharing and Delivery Partnerships over years these have been ambitious and rewarding eg with arts organisations such as the V&A Museum, Somerset House, Kew Gardens, British Library, Waterman’s Arts, Clothworkers Institute, Courtauld Institute, Gunnersbury Museum, Central Saint Martins College of Art, UAL, London Fashion Week, British Fashion Council… These partnerships can include pro bono skills development support for young people, access to free studios and workshop space, resources, archive, digital training, digital labs, curators expertise etc
Ongoing core and project work included:
1) Core Academic & Creative Skills to increase functional competency and confidence. Activities that deliver skills for patients in the community, mental health referrals, recently arrived refugees and migrants, under-attaining hard-to-reach learners and long-term educationally excluded. With patients in the community and long-term referrals we work around the complications of their medical routines as participation is often affected by consultant visits, treatment times, therapeutic work, in addition to the usual barriers such as prior under-attainment and disillusioned mindset. Skills include literacy, numeracy, web content and digital arts, video, photography, music. Accreditation: Arts Award & BTEC
2) Workplace Skills & Employability: As students start thinking about work and careers, we tailor projects to increase their understanding of different business models and entry points to the creative industries and other sectors. Workplace skills projects provide enriching experiences for students who struggle to find access to training and workplace through conventional routes. Students have opportunities to learn about setting up, branding and promoting a small business using the Protégé Gallery as a working model/case study (even though we had vacated the gallery it continues to serve as a useful case study). They learn about successful entrepreneurs and the unique paths they have taken towards business success. Our product design, craft-based ‘making’ project inspired by the boutique as a small business model focuses on craft-based skills in textile, acrylic and paper-based processes including sewing, collage, 3D digital processes. Skills included: Project Management, Admin, Research, Event Planning, Web Development, Digital Design, Excel Budgets/Spreadsheets, Fashion & Product Design, Display, Public & Community Engagement. Accreditation: Arts Award
Consultation with beneficiaries
We continue to involve beneficiaries/young people in our trustee meetings and project planning. All projects are designed in collaboration with our Youth Panel according to their sense of our cohorts’ needs, interests and abilities. Participants’ views are gathered through session feedback reports providing ‘user perspective’ and understanding of what is working or not working.
Detailed understanding of the obstacles that affect students’ troubled lives means we are better skilled to help them negotiate these complexities. We avoid off-the-shelf solutions and design bespoke projects that develop their skills and fit around any social/environmental obstacles to their progress. This is in keeping with our ethos that ‘one size does not fit all’.
The way we tailor projects provides young people with real world insights and practical experience of artists’ own businesses and creative practices – this means that excluded young people are exposed to experiences and opportunities that can increase their understanding of the business sector and workplace culture, creating useful insights into the issue that artists and small/local businesses face. Having an increased awareness of these issues improves students’ practical approach to their own career development, and increases their confidence in seeking out and applying for jobs, training and other opportunities.
Page 6
PROTÉGÉ DNA REPORT OF THE TRUSTEES - continued FOR THE YEAR ENDED 30 JUNE 2021
Organisational Structure and Staffing
Trustees oversee the activities of the charity. The Trustees are responsible for policy development and general issues of the charity, and assist with fundraising and strategic development.
The charity is supported in its work by an advisory board who bring expertise, on a pro bono basis as and when relevant, in education, alternative learning provision, youth justice, child health, communications and education methodology/innovation.
A committed and highly professional team is central to the success of the organisation. Staff are provided with ongoing support, training and development opportunities tailored in response to the work to be delivered.
Protégé does not receive statutory funding. The charity’s staff structure is flexible according to the requirements of individual projects it is funded to deliver. This enables the charity to keep overheads low, and employ experts and artists with appropriate skillset to match project need. During the financial year ending June 2021 the charity employed 1 full time freelance member of staff, and eight part-time freelance artists-in-residence. The team was supported by freelance creatives hired on a needs basis, subject to student progression plans and project requirements.
Guiding Principles - With all of the diverse young people we work with, Protégé starts from an ‘asset rather than deficit’ model of understanding excluded young people. We challenge the assumptions that exist about their mindset, ability and commitment. A significant impact from this is that young people themselves also start to challenge their own negative mindsets and limited self-perceptions. This is a crucial development if we want disengaged young people to re-assess their values and reframe their sense of rejection and failure. If they can begin to develop positive opportunities by learning from their negative experiences – these deficits can become assets, and raw material for creative expression and skills attainment.
Accreditation - Protégé offers a flexible learning opportunity that is driven and directed by students, taking their own pace, ability, interests and previous attainment into consideration. We are not a school - we do not pressurise students towards exams and qualifications as the only way of showing their potential. However, for those who need them, the Protégé opportunity can lead to accredited qualifications in the BTEC, or at four levels of the Arts Award.
Protégé is a registered centre for Arts Award delivery. The charity has undertaken staff training and development to acquire the certification necessary to deliver Arts Award accreditation. The Arts Award is accredited by Ofqual within the National Qualifications Framework. The awarding body is Trinity College, London. The points earned in this qualification can counts towards GCSE and UAL Level 1 points for college entry eg a Silver Arts Award is the equivalent point scoring of half a GCSE, and UCAS points for university aspirants.
During the report period 10 young people from a specialist school working with children on the Autism spectrum achieved their Arts Awards. In addition 19 direct referrals have also secured their Arts Award. Protégé portfolios have been crucial for students who have missed the chance to take GCSE’s in the conventional way and have no other formal qualification to their name. The process of creating a portfolio enabled students to develop specific new skills, catch up with core skills they have fallen behind in, and to use their positive experience at Protégé as a passport for re-integration, and a return to school, college or employment.
Financial Review
Protégé is supported by grants from other trusts, foundations and charities. Grants have mainly been on a project-by-project basis or as referral fees for individual students.
Reserves Policy
The trustees have established a policy whereby unrestricted funds not committed or invested in tangible fixed assets (‘free reserves’) held by the charity should be for 12 months of the resources expended. At this level, the trustees believe they would be able to continue with the charity’s current level of activities. This would enable the charity to maintain its programme of work without adversely affecting its commitment to the progress of individual students who have been
Page 7
PROTÉGÉ DNA REPORT OF THE TRUSTEES - continued FOR THE YEAR ENDED 30 JUNE 2021
signed up to the one-year programme, and in particular for long-term attenders who are not accessing any other form of learning provision.
Trustees’ responsibilities statement
The trustees (who are also directors of Protégé DNA for the purposes of company law) are responsible for preparing the Trustees’ 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 Trustees 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 2019 (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 trustees 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.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Statement as to disclosure to auditors
In so far as the Trustees are aware:
-
there is no relevant audit information of which the charitable company’s auditor is unaware; and
-
the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
Small Company Exemptions
This report has been prepared in accordance with provisions applicable to companies entitled to the small companies exemption.
This report was approved by order of the Board on March 2022 and signed on its behalf by:
Paul Brooking Trustee
Page 8
PROTÉGÉ DNA INDEPENDENT EXAMINER’S REPORT FOR THE YEAR ENDED 30 JUNE 2021 RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
I report to the charity trustees on my examination of the accounts of the company for the year ended 30 June 2021 which are set out on pages 9 to 14.
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
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:
-
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
-
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
-
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.
Haines Watts Chartered Accountants Aissela 46 High Street Esher Surrey KT10 9QY
Date:
Page 9
PROTÉGÉ DNA STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2021
| Notes Unrestricted Restricted £ £ INCOME 4 140,970 - ====== ===== EXPENDITURE Charitable activities Artist costs 6,357 30,003 Other direct costs 13,684 52,024 TOTAL EXPENDITURE 5 20,041 82,027 ===== ===== Net income/(expenditure) and movement in funds 120,929 (82,027) Fund balance at 1 July 2020 236,701 94,273 Fund balance at 30 June 2021 357,630 12,246 ====== ===== |
Total 2021 £ 140,970 ====== 36,360 65,708 102,068 ====== 38,902 330,974 369,876 ====== |
Total 2020 £ 241,133 ====== 34,709 66,509 101,218 ====== 139,915 191,059 330,974 ====== |
|---|---|---|
The notes on pages 11 to 13 form part of these financial statements
Page 10
| PROTÉGÉ DNA | |||||
|---|---|---|---|---|---|
| BALANCE SHEET AT 30 JUNE 2021 | |||||
| Notes | Notes | 2021 | 2020 | 2020 | |
| £ | £ £ £ | £ £ £ | £ £ £ | ||
| FIXED ASSETS | |||||
| Tangible fixed assets | 7 | 2,325 | 1,295 | ||
| CURRENT ASSETS | |||||
| Debtors | 8 | 6,500 | - | ||
| Cash at bank and in hand | 410,181 | 358,809 | |||
| 416,681 | 358,809 | ||||
| CREDITORS | |||||
| Amounts falling | |||||
| due within one year | 9 | 49,130 | 29,130 | ||
| NET CURRENT ASSETS | 12 | 367,551 | 329,679 | ||
| NET ASSETS | 369,876 | 330,974 | |||
| ===== | ====== | ||||
| Unrestricted funds | Unrestricted funds10 | 357,630 | 236,701 | ||
| Restricted funds | 11 | 12,246 | 94,273 | ||
| TOTAL FUNDS | 369,876 | 330,974 | |||
| ====== | ====== |
The company was entitled to exemption from audit under s477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS 102 SORP.
These financial statements were approved by the directors and authorised for issue on , and are signed on their behalf by:
- Paul Brooking (Trustee)
Company Registration number 06933072
The notes on pages 11 to 14 form part of these financial statements
Page 11
PROTÉGÉ DNA NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2021
1. GENERA INFORMATION
The charity is a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 6 Upper Butts, Brentford, Middlesex, TW8 8DA.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with FRS 102 ‘The Financial Reporting Standard applicable to the UK and Republic of Ireland, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic and Ireland (FRS 102)(Charities SORP (FRS 102) and the Charities Act 2011.
Protégé DNA meets the definition of a public benefit entity under FRS 102.
3. ACCOUNTING POLICIES
Basis of accounting
The financial statements have been prepared under the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
As at the date of approval of these financial statements, trustees have assessed the potentially adverse impact of the Covid-19 lockdown both on our current funding and also the future uncertainty regarding the endowments of the trusts and foundations that support Protege’s activities from a cash flow perspective. The trustees will seek to ensure that the timing of payment for any deferred fees or pension liabilities does not impact negatively on the delivery of activities or the financial health of the charity.
Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the directors have concluded that they can continue to adopt the going concern basis in preparing the annual financial statements.
Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment 15% per annum on reducing balance
Income
The charitable company is a non-profit making organisation and receives grants from various bodies to provide alternative education and creative skills development to young people facing exclusion and disadvantage.
Expenditure
Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT which cannot be recovered.
Charitable expenditure comprise those costs incurred by the charity in the delivery of its activities and services for its beneficiaries.
Fund accounting
Restricted funds relate to grants received for specific purposes and are held until the preconditions are met. Unrestricted funds are available to spend on any activity that furthers any purpose of the charity.
Page 12
PROTÉGÉ DNA NOTES TO THE FINANCIAL STATEMENTS- continued YEAR ENDED 30 JUNE 2021
4 INCOME
----- Start of picture text -----
||||||
|---|---|---|---|---|
|Unrestricted Restricted|Total|Total|
|2021|2020|
|£|£|£|£|
|Grants from charitable trusts|140,660|- 140,660|222,220|
|Donations|15|-|15|180|
|Interest Received|295|-|295|15|
|Insurance|-|-|-|18,738|
|140,970|- 140,970|241,133|
|=====|===== ======|======|
|5|EXPENDITURE|Total|Total|
|Unrestricted Restricted 2021|2020|
|£|£|£|£|
|Artist costs|6,357|30,003|36,360|34,709|
|Project management fees|1,441|33,552|34,993|39,526|
|Materials and equipment|1,468|1,450|2,918|-|
|Premises costs|5,857|15,055|20,912|17,000|
|General expenses|2,737|255|2,992|1,471|
|Marketing|118|11|129|601|
|Legal & professional fees|586|578|1,164|5,048|
|Accountancy (incl. tax & Independent Examination) 1,102|1,088|2,190|2,634|
|Depreciation|375|35|410|229|
|20,041|82,027 102,068|101,218|
|======|===== ======|=====|
----- End of picture text -----
6 STAFF COSTS, TRUSTEES AND KEY MANAGEMENT PERSONNEL
The Charity has no employees (2020: Nil).
The Trustees comprise the key management personnel. Details of remuneration and reimbursement of expenses during the year are included in the note on ‘Related Party Transactions’.
7 FIXED ASSETS
----- Start of picture text -----
|||
|---|---|
|Fixtures,|
|Fittings &|
|Equipment|
|COST|£|
|At 1 July 2020|6,299|
|Additions|1,440|
|As at 30 June 2021|7,739|
|=====|
|DEPRECIATION|
|At 1 July 2020|5,004|
|Charge for year|410|
|As at 30 June 2021|5,414|
|=====|
|NET BOOK VALUE|
|At 30 June 2021|2,325|
|=====|
|At 30 June 2020|1,295|
|=====|
----- End of picture text -----
Page 13
PROTÉGÉ DNA
NOTES TO THE FINANCIAL STATEMENTS- continued YEAR ENDED 30 JUNE 2021
| 8 | DEBTORS | 2021 2020 |
|---|---|---|
| £ £ |
||
| Other debtors | - - |
|
| ===== ===== |
||
| 9 | CREDITORS: Amounts falling due within one year | 2021 2020 |
| £ £ |
||
| Other creditors | 49,130 29,130 |
|
| 49,130 29,130 |
||
| ====== ===== |
||
| 10 | UNRESTRICTED FUNDS | |
| Balance at | Income Expenditure Balance at | |
| 01/07/2020 | 30/06/2021 | |
| £ | £ £ £ | |
| General Funds 236,701 | 140,970 (20,041) 357,630 | |
| 236,701 | 140,970 (20,041) 357,630 | |
| Balance at | Income Expenditure Balance at | |
| 01/07/2019 | 30/06/2020 | |
| £ | £ £ £ | |
| General Funds 191,059 | 124,433 (78,791) 236,701 | |
| 191,059 | 124,433 (78,791) 236,701 |
Page 14
PROTÉGÉ DNA
NOTES TO THE FINANCIAL STATEMENTS- continued YEAR ENDED 30 JUNE 2021
| 11 RESTRICTED FUNDS | ||
|---|---|---|
| Balance at | Income Expenditure Balance at | |
| 01/07/2020 | 30/06/2021 | |
| £ | £ £ £ | |
| Arts Council | 52,500 | - (52,500) - |
| National Lottery | 23,273 | - (23,273) - |
| Wellington Management | 18,500 | - (6,254) 12,246 |
| 94,273 | - (82,027) 12,246 | |
| Balance at | Income Expenditure Balance at | |
| 01/07/2019 | 30/06/2020 | |
| £ | £ £ £ | |
| Arts Council | - | 54,000 (1,500) 52,500 |
| National Lottery | - | 42,700 (19,427) 23,273 |
| Wellington Management | - | 20,000 (1,500) 18,500 |
| - | 116,700 (22,427) 94,273 |
Page 15
PROTÉGÉ DNA NOTES TO THE FINANCIAL STATEMENTS- continued YEAR ENDED 30 JUNE 2021
12 SUMMARY OF NET ASSETS BY FUND
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| funds | funds | funds | |
| Year ended 30 June 2021 | £ | £ | £ |
| Fixed assets | 2,325 | - | 2,325 |
| Other current assets | 404,435 | 12,246 | 416,681 |
| Current liabilities | (49,130) | - | (49,130) |
| 357,630 | 12,246 | 369,876 | |
| ====== | ===== | ====== | |
| Unrestricted | Restricted | Total | |
| funds | funds | funds | |
| Year ended 30 June 2020 | £ | £ | £ |
| Fixed assets | 1,295 | - | 1,295 |
| Other current assets | 264,536 | 94,273 | 358,809 |
| Current liabilities | (29,130) | - | (29,130) |
| 236,701 | 94,273 | 330,974 | |
| ====== | ===== | ====== |
13 RELATED PARTY TRANSACTIONS
During the year the charity paid artist fees and project management fees to S Kumari-Dass, a Trustee, totalling £49,993 (2020: £49,526). The above arrangement has been agreed with the Charity Commission.
As at 31 June 2021, £60,000 (2020: £40,000) is held by S Kumari-Dass on behalf of the charity.