10 YEAR ANNIVERSARY 2012 - 2022 ANNUAL REPORT 2022 IA'AP• •. Tl spudWORKS, Sway, Hampshire, S0416BA www.spud.org.uk Charity No. 1160358 ABOUT us ,IliiliJ SPUD is an arts and education charity (charity established in 20151 that creates opportunities for people to engage with art, architecture, design and the environment. World renowned for our award-winning projects including the Exbury Egg, Observatory and Handlebar Cafe. Our creative hub in Sway, New Forest provides gallery, workshop, desk rental and studio spaces amongst beautifully landscaped gardens. A vibrant and varied programme of community activities, events and exhibitions runs throughout the year. YEAR IN REVIEW Foreword by Chair of Trustees l am very pleased to introduce the 2022 Annual Report for a year that celebrated 10 years of SPUD'S work with young people. artists, creatives. and communities. With the first full programme of work since 2019 Set against the background of the continuing well-being challenges of the pandemic. Mythanks to the staff, Trustees, the SPUD creative community and spudYOUTH for meeting the challenges and working to make SPUD more resilient and creative. Thanks also to our funders, sponsors, partners, and tenants for their continuing support and enabling new projects to develop. SPUD is seeking to foster people's sense of community, connection, and wellbeing, and to support creative skills development, knowledge and understanding. Highlights from the year include the design and architecture exhibition concluding spudYOUTH'syearlong collaboration with Daikanyama Teens, Tokyo. A programme of creative consultation with young people led to their views and ideas being adopted in the Ringwood Neighbourhood Plan and Town Centre Future's work. The spudCOLLECTIVE of artists and creatives based at SPUD led eight weeks of experimentation, workshops, and exhibitions in the gallery. Bringing in more local people and a new energy to the space. Artist's residencies included Kati Saqui working with the Lymington Dementia Action Group to create a Walking Balloon sculpture for Dementia Awareness Week. An LGBTQ+ Residency with Lucy Cash and Luke Pell worked with forty young people from Hampshire's Break Out Youth groups. 'We Belong Here, was a residency by Marie Smith working with people of colour living in Hampshire and the New Forest and reflected on landscape and visibility. This is part of a three year partnership with the New Forest Nation Park Authority. Looking ahead SPUD will continue with a focus on the quality and depth of engagement, and experimental approaches, supported by continuing work on financial and organisational sustainability. Victoria Pirie Chair of Trustees Introduction by the Director SPUD has emerged stronger, resilient and more dynamic following the extended pandemic. The forced closures have given the team time to reflect on our direction and strategy and to begin building back with a renewed enthusiasm and a clear understanding of the important role that SPUD and spudWORKS play in our community and in creating'community., Our core purpose of 'enobling the well-being of communities through collaboration in arts, architecture ond education,, has never been clearer or more evident. SPUD has managed to retain its independence and financial sustainability, allowing theteam to steer a clear direction and ethos and to respond to opportunities effectively. 2022 has seen SPUD focus much more on the quality and depth of our engagement, rather than being driven by the numbers of people taking part. This has allowed us to concentrate resources and to work with often quite vulnerable groups and individuals. It also allows usto be more experimental in our approaches and the development of projects. It has also been a year to celebrate SPUD's10 year anniversary and all the wonderful achievements to date, whilst welcoming many friends old and new back to spudWORKS. The team, tenants and visitors are all contributing to making SPUD a safe, vibrant and creative space for everyone. It's a place where people can express themselves, experiment, learn and have a shared sense of ownership about how SPUD develops into the future. Mark Drury Di rector MEET THE TEAM MARK DRURY TOM SOFIKITIS DIRECTOR OPERATIONS MANAGER TOM HALL ALEX HOARE AUDIENCE & ARTISTS CO-ORDINATOR (FREELANCE) DEVELOPMENT & ARTISTS CO-ORDINATOR (FREELANCE) KIRSTIE JENKINS BOOKKEEPING JAN WILLIS ACCOUNTANT TRUSTEES VICTORIA PIRIE (CHAIR) ALISON WARD (TREASURER) PAUL CLEGG COLLEThE RAINE MADDISON COLLYMORE CHANNA VITHANA MIA DELVE MArrHEW LAWSON INIGO ORMEROD (YOUTH AMBASSADOR) OBJECTS & MISSION Objects To advance the education of the public in general, in particular by conceiving and delivering collaborative projects that develop skills and provide improved understanding of place, the arts, design, architecture and the environment and their inter-connection. Purpose Enabling the well-being of communities through collaboration in arts, architecture and education. STRUCTURE & GOVERNANCE Our new trustees bring a range of skills and knowledge including supporting the development of creative practice, creative education, working with young people and communities, partnership development, finance, business and organisation management. Every trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees. In selecting individuals for appointment as Charity trustees, the charity trustees must have regard for the skills. knowledge and experience needed for the effective administration of the CIO. FINANCIAL REVIEW Despite Covid continuing to impact the charity in the early part of 2022 SPUD was able to undertake more projects and activities with a focus on the quality and the depth of the engagement. The overall impact for SPUD'S finances has been a positive one, continuing to maintain a sound financial position and ending the year with a net positive movement in total funds of just over £5,000. The key financial highlights are noted in the table and commentary below with further detail on income, expenditure and the Charity's balance sheet provided in the Accounts. 2022 2021 £'ooo £'ooo Total Income 168.5 174.3 Unrestricted Ineome 113.1 115.9 estricted I ncome 55.4 58.4 Total Expenditure 163.3 166.4 Total ReserveslFunds 754.4 749 Unrestricted 66.1 32 Restricted 412.3 435 Endowment 276 282 FINANCIAL REVIEW CONTINUED While there has been a small drop in overall income in 2022 1£6kl across both the Unrestricted and Restricted elements, there has been a lower level of income for Covid related support as would be expected between 2021 1£45kl and 20221£14kl. Key grants within Restricted Income this year came from the Arts Council of England for the People and Engagement for Future Resilience project1£32kl and Hampshire & IOW for Dementia co-ordination activities 1£12.5kl. The main components within Unrestricted Income were from the successful renting of creative spaces at spudWORKS 1£44kl and from our tenants in the HandleB3r Café1£28kl, our investment property in Winchester. Reserves Policy and end of year position The trustees. policy is that the balance of reserves held by SPUD should be equal to three months of the charity's running costs. The reserve amount is reviewed annually by the trustees. The trustees believe this level of reserves will provide short term funding stability and allow time to secure alternative sources of income, in the event of a significant drop in income. In 2022 running costs before project expenditure and depreciation were on average £9k per month and the balance in unrestricted reserves at the end of 2022 was £66k. PROGRAMME Exhibitions It's been fantastic to be able to hold a full years exhibition programme following the pandemic and lockdowns. The variety in 2022 has been incredible, allowing us to work with many talented individuals and connect them with an ever widenirng local community. Exhibitions ranged from commissions such as the New Forest National Park resident artist- Marie Smith, to ourfirst ever spudOPEN and an LGBTQ+ residency with artists Luke Pell and Lucy Cash. In between our main exhibition programme we made time for a number of experimental weeks to allow artists to explore new work, collaborations and outreach. These experimental weeks brought a new energy and vigour to the gallery space and something we wish to build upon. Living The Living Room Residency artist Kati Saqui has a unique approach to working with people with demerntia, and she brought a fresh and innovative approach to working with this group of people. This was a re-entry into working with her art practice for Kati, who has worked in care for a number ofyears. Katie made use of the residency to develop her own practice and we were able to provide support and encouragement to maximise her potential. Through the residency there was difficulty in getting people to spudWORKS for workshops, as restrictiorns in this particu lar sector were slow to lift after the pandemic. However, she visited people off site to try and set up activities and workshops at care homes and dementia cafes and built a very successful partnership with Lymington Dementia Action Group ILDAGI. Working with them to encourage participation, creating a Walking Balloon Sculpture for Dementia Awareness Week and parading this through the market in Lymington and as part of spudWORKS participation in Sway Open Gardens. It created a good atmosphere and generated conversations with people to raise awareness of LDAG coffee mornings and Kati's workshops at spudWORKS. Attendance at the café improved as a result of the event. Kati ran workshops for LDAG during the summer and a workshop day run for partner organisations in the FOLIO group at spudWORKS where she shared her practice through a series of small workshops and general discussion throughout the day. lori Yl.Thli fiin>wool Towfj f41￿( es Tli 6ikerkJ Ringwood Town Futures SPUD were invited to work with Ringwood Town Council to deliver creative consultation workshops with young people in the town. This work was being undertaken as part of their Neighbourhood Plan and Town Centre Future's work. A series of workshops were delivered in the local secondary school and youth centre, enabling young people to openly express their views for the future of the town and its urban environment. These ideas were collected together into a final report and and an illustrated map labovel, created by artist Daisy May. The work has been formally adopted by the Town Council into their future planning and was presented at a full cabinet meeting. spudYOUTH Tokyo Co-Lab This international project , which started in September 2021, culminated this year. Students created scale models of each others art centres, based on des￿9n5 supplied to them from students in each of the countries. The models and design work were publicly exhibited in both Tokyo and Sway, New Forest. It is hoped that SPUD and Daikanyama Teens in Tokyo will be able to develop further intercultural projects and a potential trip to Tokyo. spudYOUTH spudYOUTH weekly architecture and design workshops continue to flourish with newyoung people joining the group annually from across the New Forest and beyond. In the past year 4 students have moved on to Study architecture at degree level, with the feedback from universities being incredibly positive about the portfolios they have developed as part of spudYOUTH activities. The group is regularly supported by a professional architect from PAD Studio, along with students studying architecture locally. The workshops are run for free by SPUD and allow students of all abilities to take part and work to their level and interest. spudYOUTH now forms a core part of our activity and often leads onto much larger projects and local engagement. New Forest Artist in Residence 2022 saw the launch of a major new collaboration with the New Forest National Park Authority on an Artist in Residence programme. The two first artists Marie Smith and Beccy Mccray completed their residencies in 2022, with Marie exhibiting at spudWORKS in October 2022. The aim of Marie's residency titled 'We Belong Here, was to reflect upon the richness of the landscape and facilitate a conversation with the community who are perceived to be invisible in the New Forest. Marie collaborated with seven people of colour based in Hampshire and the New Forest, to create a series of portraits and cyanotypes. Beccy's residency titled 'Common Ground, looks at access to nature and National Parks and explores stewardship, folk culture, commons, rights and access. Beccy's residency will be followed by an exhibition in May 2023. spudWORKS Residencies The residency space continues to attract self-funded residencies and it's been fantastic to host artists from around the UK and 3150 from Russia and Australia. Increasingly, we are developing collaborations Wlth other arts organisations, enabling them to make use of our residency space for their visiting and partner artists. LGBTQ+ Residency This residency worked with artists Lucy Cash and Luke Pell to engage with the LGBTQ+ communities in the New Forest, looking at nature as inspiration for a QueerAlmanac. The project was launched at the Derek Jarman Exhibition at the John Hansard Gallery IJHGI in Southampton in the winter of 202112022. The event included a tour with Luke Pell and workshops afterwards inspired by the exhibition. The exhibition had contacts with Breakout Youth, who support vulnerable young LGBTQ+ people in Hampshire and they were keen to engage with the project. Four LGBTQ+ artists straight from college living locally worked with Luke and Lucy, giving them the opportunity to continue the work they had started at college, supporting them to engage with queer theories in a local context. Events as part of the project included an artist talk at Aspace, God's House Tower and an event at spudWORKS with 40 young people from six Breakout Youth groups across Hampshire participating in workshops with Lucy and Luke. Extra funding was obtained from NFNPA to fund this event. The workshop took place in the garden and included a walk up onto heathland at the edge ofthe New Forest near the spudWORKS building. Despite windy weather conditions participants contributed poetry, drawings, and photographic images inspired by Luke and Lucy's work with them. Art Clubs launch SPUD has started its first regular, weekly art clubs dedicated to young people. They consists of three separate age groups that each have their own sessions. The age groups are 6.11 years old, 11-14 years old and 14-18 years old. Each session is hosted by a professional art15t that we have selected. The artists take turns delivering the art clubs each week and offer a wide variety of skills and media forms to provide an ever changing programme of experiences for the young people. Typically we have 7 participants per group. Whilst we do charge a small fee for the art club session5 to help pay for artists time and materials we have also partnered with a charity called Olivia Inspires who have kindly offered to cover the costs for any young person who meets their criteria. This enablesfamilieswith young people in receipt of Pupil Premium to access the art clubs. Whilst this support has been very useful it has shown us that having access to our own grant funding pot to support young people would bevery beneficial in making the art clubs readily accessible to our surrounding communities. spudOPEN 2022 The year finished with our first spudOPEN call. It is always a gamble to invest in a new enterprise, but we felt this one was very much worth it. An open call is in support of our growing SPUD community and to make inclusive a discursive platform to the wider arts public. This year the title was'our Changing Landscapes, and we were very excited to welcome the New Forest National Park Authority as a partner and sponsor. The submission and subsequent exhibition was a huge success. there was a tremendous public response with rich and meaningful discussions rippling through the gallery day after day. We also welcomed St Barbe Young Curators to help with putting the show together and a panel of the great and the good to judge the prizes from over 100 entries. Olana Light won the overall prize. l•t. 28th Juhe Graduate Launch Pad Important developments have been cemented into the spudLAUNCHPAD this year. Like most outreach Covid's legacy had left many parts of spudWORKS desperate to come out of hibernation. We have supported three artists thisyear with studio space and an exhibition. Anya Bliss (painter, maker and performance artist) Gabriela Cohen (painter and photographer) and Christian Murphy (architectural graduatel. Additional to this we have written and started to implement a professional mentorship program. As normal this cohort of talented graduates finished with an impressive exhibition titled'problem Children,. It is notable that since finishing the program at SPUD their success has been ongoing with Christian securing a teaching job at Arts University Bournemouth. Anya has been selected for and attended a number of residences in Scotland and England, exhibited all over the UK including London and hasjoined The School ofthe Damned. Gabriela has been in a group show at the Saatchi Gallery in London where she sold her work on the first day and there is more to come. We must be doing something right. li1* spudCOLLECTIVE In January of 2022 the spudARTISTCOLLECTIVE was formed as a response to Covid and the geography of trying to be contemporary artists and crafts people in a rural setting. The groups heart are the creative individuals who have studios at spudWORKS or run workshops here. SPUD has looked to formally support and encourage this cluster of creatives by giving them an annual slot in their exhibition program with the understanding that the work they undertake should be encouraging collaboration and experimentation. This first year was both a creative success and popular attraction. They put on seven exhibitions in eight weeks, many with free public workshops and community engagement. Some significant work was made, which has gone forward to critical success in 2023. LOOKING AHEAD try Looking towards 2023 we intend to build on the excellent work developed throughout the past year and take an increasingly strategic approach to how we develop. There will be a continuing focus on working with people and their families living with dementia,. local LGBTQ+ young people and older people and loneliness, ensuring we continue to deliver on our core purpose. 2023 will also see a much more cohesive exhibition programme that runs in parallel with our outreach and community engagement work, whilst still delivering high quality and at times challenging exhibitions. There will also be a welcome return to spudFILM (now in its third yearl, which will expand into a wider Film Festiva5 with support from Culture in Common. Charity registration number: **1160358** ## **SPUD** (A Charitable Incorporated Organisation) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS Principal Address: spudWORKS Station Road Lymington Hampshire SO41 6BA ## Contents ||Page| |---|---| |Reference and Administrative details|1| |Trustee Report|2-5| |Accountants Report|6| |Independent Examiners Report|7| |Statement of Financial Activities|8| |Balance Sheet|9| |Notes to the Financial Statements|10-19| ## **Reference and Administrative Details** Charity Name: **SPUD** Charity No: **1160358** Charity's Principal Address: spudWORKS Station Road Lymington Hampshire SO41 6BA **Current Trustees:** _Dates acted if not full Trustee Name Office year_ Victoria Pirie Chair Alison Ward Treasurer Tom Greenwood Resigned Feb 2022 Collette Raine Reappointed July 2022 Paul Clegg Maddison Collymore Matthew Lawson Channa Vithana Mia Delve **Structure Governance and Management** Governing Document: Constitution Constitution of the Charity: Charitable Incorporated Organisation Trustee Selection Methods: Every Trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees. In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO. Eleve11 Consulting Ltd T/A Cloud Eleven Accountant: Accountants Independent Examiner: Tee accounts Ltd T/A On The Spot Page 1 ## **Trustees' Annual Report for the period** 01/01/2022-31/12/2022 ## **Objectives and activities** ## **Summary of the objects of the Charity as set out in its governing document** To advance the education of the public in general, in particular by: (i) the encouragement of contemporary arts and of organising and promoting educational and community projects for the advancement of the understanding and appreciation of such arts; and (ii) conceiving and delivering collaborative projects that develop skills and provide improved understanding of place, the arts, design, architecture and the environment and their interconnection; and (iii) the provision of facilities for recreation or other leisure time occupations, particularly facilities for the promotion, creation, and exhibition of contemporary art with the object of giving the widest possible access to the arts by all members of the public. ## **Summary of the main activities undertaken for the public benefit in relation to these objects** The development and delivery of creative projects and programmes with young people and the wider community focused on place, art, design and architecture, the environment, skills development and wellbeing such as spudYOUTH, The Living Room, Ringwood Town Futures and New Forest Artist in Residence. The development and delivery of a public exhibition programme in the gallery at spudWORKS that supports local artists, showcases projects and programme work, and artist residencies such as We Belong Here, Queer Almanac and the spudOPEN. The provision of a creative hub in Sway, New Forest providing a gallery, workshop, desk rental and studio spaces for artists and creative businesses. This supports project and programme delivery including Art Angels, spudWORKS Residencies and early career artists. The Handlebar Café in Winchester based in a building designed and delivered as a spudYOUTH project in 2019 provides income that supports SPUD’s development and delivery. The trustees have had regard to the guidance issued by the Charity Commission on public benefit. SPUD’s public benefit is manifested principally in communities in Hampshire and Dorset. Page 2 ## **Achievements and performance** ## **Summary of the main achievements of the charity during the year** SPUD is seeking to make a difference through fostering peoples' sense of community, connection and well-being, and by supporting peoples' creative skills development, knowledge and understanding. In 2022 SPUD celebrated 10 years of projects and work with young people, artists, and communities. At spudWORKS new tenants joined the community of creatives and there are 12 micro-businesses on site and three creative industry graduates supported through the Graduate Launch Pad space. The impact of COVID pandemic continued to be felt through levels of participation in activities, and in health and wellbeing across the organisation. One trustee stepped down and one trustee was re-appointed. Collectively the trustees bring a range of skills and knowledge from supporting the development of creative practice, creative education, working with young people and communities, partnership development, finance, business and organisation management. In addition, a spudYOUTH Ambassador, who is a member of spudYOUTH, attends trustee meetings bringing their perspective to support discussion and decision making. Key governance work included revising SPUD's Safeguarding policy, procedures, guidance and training, and work on finances to support decision making and sustainability. A new approach to how the gallery is used successfully combined experimental weeks led by the spudCOLLECTIVE and exhibitions. This enabled artists to explore new work, collaborations, and work with visitors and the community. The approach brought a new energy to how people engage with the space and brought in more of the local community. Exhibitions included We Belong Here a collaboration between Marie Smith, the first New Forest National Park artist in residence, and local people of colour; a Queer Alamanac with Lucy Cash and Luke Pell working with LGBTQ+ young people and recent creative graduates. Over 100 young and older artists participated in the first spudOPEN. Work with individuals and families living with Dementia, part of SPUD’s Arts Council England funded People and Engagement Programme supported the further development of The Living Room. Through her artists' residency at SPUD, Kati Saqui developed a successful partnership with the Lymington Dementia Action Group including the creation of a Walking Balloon Sculpture for Dementia Awareness Week. Page 3 The spudYOUTH Tokyo Co-Lab online collaborative design and architecture project with Daikanyama Teens concluded with exhibitions in each country of the designs and scale models of their art centres. The programme was supported by the Daiwa Foundation and GB Sasakawa Foundation. The spudYOUTH programme is supported by a professional architect from PAD Studio, and staff and students from the Architecture Department at Arts University Bournemouth. Over the year four spudYOUTH members have begun Architecture degrees. Ringwood Town Council commissioned SPUD to deliver creative consultation with young people for the Neighbourhood Plan and Town Centre Future's work. The young peoples' views and ideas were formally adopted by the Council as part of the Future's work. Art Clubs for ages 6 to 18 were launched where young people can work with professional artists to develop their skills and experience across a range of media. Funding from Olivia Inspires supports young people in receipt of Pupil Premium to access the clubs. Forty young people from Hampshire Breakout Youth groups worked with artists Lucy Cash and Luke Pell as part of a LGBTQ+ Residency looking at nature as inspiration for a Queer Almanac. The project also involved four LGBTQ+ recently graduated artists, ASpace and the John Hansard Gallery. The first New Forest Artist in Residence concluded with We Belong Here an exhibition of work made collaboratively by Marie Smith and seven people of colour based in Hampshire and the New Forest. While artist Beccy McCray's residency explored rights and access to nature, stewardship, and folk culture. The residencies were part of a two-year programme in partnership with and funded by, the New Forest National Park Authority. In response to Covid and making creative work in a rural setting spudCOLLECTIVE was formed by the artists and crafts people who have studios and run workshops at spudWORKS. While the three Graduate Launch Pad artists have moved onto a teaching job at Arts University Bournemouth, and residencies and exhibitions across the UK, including the Saatchi Gallery, London. Page 4 ## **Financial review** The trustees’ policy is that the balance of reserves held by SPUD should be equal to three months of the charity’s running costs. The reserve amount is reviewed annually by the trustees. The trustees believe this level of reserves will provide short term funding stability and allow time to secure alternative sources of income, in the event of a significant drop in income. In 2022 running costs before project expenditure and depreciation were on average £9k per month and the balance in unrestricted reserves at the end of 2022 was £66k. There are no funds in deficit. Other income was received mainly in the form of Rental and Investment income. This was through the renting of space within SPUD’s main building (spudWORKS) generating income of £44k. Various spaces and tenancy arrangements are supporting a thriving community of creatives from micro businesses to graduates. Income of £28k was received from the Handlebar Café, tenants operating from our investment property in Winchester. ## **Annual Activity Report** The Activity Report is attached in a separate document. The trustees declare that they have approved the trustees' report above. Signed on behalf of the charity’s trustees: Signature Signature Date Chair Date Treasurer Page 5 **CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS** ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF SPUD FOR THE YEAR ENDED 31 December 2022 In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of SPUD for the year ended 31 December 2022 as set out on pages 7- 19 from the charities accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.co/uk/en/aboutus/regulation/rulebook.html This report is made solely to the charity trustees of SPUD, as a body, in accordance with the terms of our engagement letter dated 23rd June 2022. Our work has been undertaken solely to prepare for your approval the accounts of Spud as a body in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at: http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf To the fullest extent permitted by law, we do not accept or resume responsibility to anyone other that Spud and its Board of Trustees as a body for our work for this report. It is your duty to ensure that SPUD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position of SPUD. You consider that SPUD is exempt from the statutory audit requirement for year. We have not been instructed to carry out an audit or review of the accounts of SPUD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts. Janice Willis FCCA Cloud Eleven Accountants Trading name of Eleve11 Consulting Ltd 26.04.23 Palamos House 66-67 High St Lymington SO41 9AL Page 6 ## **Independent examiner’s report to the trustees of SPUD (“the Trust”)** I report to the charity trustees on my examination of the accounts for the Company for the year ended 31 December 2022. ## **Responsibilities and basis of report** As the charity’s trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’). I report in respect of my examination of your charity’s accounts as carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner’s statement** Since the charity’s gross income did not exceed £250,000 your examiner does not need to be a member of a body listed in section 145 of the 2011 Act, however, I confirm that I am qualified to undertake the examination and am also a member of ICAEW (FCA), which is one of the listed bodies. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: 1. The accounting records were not kept in accordance with section 130 of the 2011 Act; or 2. the accounts did not accord with the accounting records; or 3. the accounts did not comply with the applicable requirements concerning the form and contents of accounts set out in the Charities (Accounts and Reports) Regulations 2008, 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, in accordance with the 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. Teresa Rogers BFP FCA Director June 2023 Tee Accounts Limited T/A On The Spot Rosehill House PL26 7BA Page 7 ## **Statement of financial activities year ending 31st December 2022** |**Incoming resources (Note 3 & 4)**
Donations and gifts
Charitable activities
Rental Income
Investment income
**_Total_**
**Resources expended (Note 5)**
Project Expenditure
Building Maintenance and Management
Depreciation
Salaries
Administration
Interest on Loan
Finance charge (provision for decommissioning cost)
**_Total_**
**Net income**
**Transfers between funds (note14)**
**_Net movement in funds_**
Total funds brought forward
**_Total funds carried forward_**|**Current Year 2022**|**Current Year 2022**|**Current Year 2022**|**Current Year 2022**|**Prior Year**
**2021**| |---|---|---|---|---|---| ||**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total Funds **
**£**
**£**
**£**
**£**||||**Total Funds**
**£**| ||||||| ||15,031|4,733|-|19,764|9,474| ||26,064|50,462|-|76,526|108,126| ||43,945|-|-|43,945|39,392| ||28,092|190|-|28,282|17,392| ||**113,132**|**55,385**|**-**|**168,517**|**174,384**| ||||||| ||3,989|28,968||32,956|16,980| ||22,054|4,733||26,787|19,287| ||5,717|4,684|6,000|16,401|44,998| ||34,688|39,795|-|74,483|70,365| ||11,639|||11,639|12,965| ||405|||405|435| ||594|-||594|1,337| ||**79,085**|**78,180**|**6,000**|**163,265**|**166,367**| ||||||| ||£34,047|(£22,795)|(£6,000)|£5,252|£8,017| ||£130|(£130)||£0|£0| ||£34,177|(£22,925)|(£6,000)|£5,252|£8,017| ||||||| ||31,965|435,190|282,000|749,155|741,138| ||**66,142**|**412,265**|**276,000**|**754,407**|**749,155**| Page 8 ## **Balance sheet at 31st December 2022** |**Fixed assets**
**Intangible assets**
(Notes 8 and 9)
**Tangible assets - equipment**
**Tangible assets - Fixtures & Fittings**
**Tangible assets - buildings**
**Investment assets - Handlebar Café**
**_Total fixed assets_**
**Current assets**
**Stocks**
**Debtors**
**Cash at bank and in hand (Note 7)**
**_Total current assets_**
**Provisions for liabilities (note**
**13)**
**_Net current assets_**
**_Total assets less current_**
**_liabilities_**
**_Total net assets_**
**Funds of the Charity**
(Note 14)
**Endowment funds**
**Restricted income funds**
**Designated funds**
**Unrestricted funds**
**Revaluation reserve**
**_Total funds_ **
**Creditors: amounts falling due within one year (Note**
**Creditors: amounts falling due after one year (Note**
**10)**|**Current Year 2022**|**Current Year 2022**|**Current Year 2022**|**Current Year 2022**|~~**Prior Year**~~
**2021**| |---|---|---|---|---|---| ||**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**£**
**£**
**£**
**£**||||**Total Funds**
**£**| ||-|-|-|-|-| ||4,517|||4,517|8,099| ||1,941||-|1,941|362,397| ||-|76,837|276,000|352,837|362,397| ||16,283|289,373||305,655|306,780| ||22,740|366,210|276,000|664,950|677,276| ||||||| ||-|-|-|-|-| ||15,868|-|-|15,868|8,301| ||77,108|46,055||123,163|109,818| ||92,976|46,055|-|139,031|118,119| ||||||| ||11,645|-|-|11,645|7,349| ||19,890|-|-|19,890|19,296| ||61,441|46,055|-|107,496|91,474| ||||||| ||
84,181|412,265|276,000|772,446|768,750| ||||||| ||18,039|-|-|18,039|19,595| ||||||| ||**66,142**|**412,265**|**276,000**|**754,407**|**749,155**| ||||||| ||**Current Year 2022**||||**Prior Year**
**2021**| ||**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**£**
**£**
**£**
**£**||||**Total Funds**
**£**| ||||||| ||-||276,000|276,000|282,000| |||412,265||412,265|435,190| ||27,000|-|-|27,000|-| ||39,142|-|-|39,142|31,965| ||-|-|-|-|-| ||**66,142**|**412,265**|**276,000**|**754,407**|**749,155**| Signed on Behalf of the Trustees Date of Name approval dd/mm/yyyy Page 9 ## **Notes to the accounts for the year ending 31st December 2022** ## **Note 1 Basis of Preparation** ## **Basis of Accounting** These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The accounts 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 for Smaller Entities published on 16/07/14 - the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) - and with the Charities Act 2011. The charity constitutes a public benefit entity as defined by FRS 102. No changes to accounting estimates have occurred in the reporting period (3.46 FRS 102 SORP). No material prior year errors have been identified in the reporting period (3.47 FRS 102 SORP). The charity has opted to prepare the accounts under the FRSSE and so a Statement of Cash Flows is not required. The accounts present a true and fair view and the accounting policies adopted are those outlined in note 2. ## **Note 2 Accounting Policies** ## **2.1 Income** **Recognition of income** Income is included in the Statement of Financial Activities (SoFA) when: (i) the charity becomes entitled to the resources; (ii)it is more likely than not that the trustees will receive the resources; and the monetary value can be measured with sufficient reliability. **Offsetting** There has been no offsetting of assets and liabilities, or income and expenses. **Grants and donations** Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS 102 SORP). In the case of Contractual income and performance related grants, income is only recognised to the extent that the charity has provided the specified goods or services as entitlement to the grant only occurs when the performance related conditions are met (5.16 FRS 102 SORP). **Tax reclaims on donations** Gift Aid receivable is included in income when there is a valid declaration from the **and gifts** donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise. Page 10 **2.2 Expenditure and Liabilities** **Liability recognition** Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty. **Provisions for liabilities** A Liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date. **Deferred income** No material item of deferred income has been included in the accounts. **2.3 Assets Debtors** Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received. **Tangible fixed assets** Fixed assets are valued at cost. Computers are depreciated over 3 years on a straight line basis. The spudWORKS building is depreciated over 50 years and the studios are depreciated over 25 years. Investment property is depreciated over the length of the lease, and expected life **Investment property** span of the asset, which is 25 years. Page 11 ## **Note 3 Analysis of incoming resources** |**Donations and**
**Other trading**
**activities:**
**TOTAL INCOME**
**Charitable**
**activities:**
**Capital Projects**
**Income from**
**investments:**|**Analysis**|**Current Year 2022**|**Current Year 2022**|**Current Year 2022**|**Current Year 2022**|**Current Year 2022**|**Prior Year**
**2021**| |---|---|---|---|---|---|---|---| |||**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**Funds**
**Less**
**Deferred**
**Income**
**Total funds**
**£**
**£**
**£**
**£**
**£**|||||**Total funds**
**£**| ||Donations and gifts|15,031|4,733||-|19,764|9,474| ||**Total**|15,031|4,733|-|-|19,764|9,474| ||||||||| ||General grants provided by
government/other charities|10,000|47,862||-|57,862|58,154| ||Covid Related Government
support|4,000|||-|4,000|44,519| ||SpudYouth and Workshops|12,064|2,600||-|14,664|5,453| ||**Total**|26,064|50,462||-|76,526|108,126| ||||||||| ||Rental income|43,945|||-|43,945|39,392| ||**Total**|43,945|-|-|-|43,945|39,392| ||||||||| ||Bank Interest||190||-|190|2| ||Handlebar Café rental income|28,092|-||-|28,092|17,390| ||**Total**|28,092|190|-|-|28,282|17,392| ||||||||| ||Separate material item of
income - Studios||||||-| ||Separate material item of
income-Handlebar Café|-|-|-|-||-| ||**Total**|-|-|-|-||-| ||||||||| |||**113,132**|**55,385**|**-**|**-**|**168,517**|**174,384**| ## **Note 4** |**Subtotal**
Rural Payments Agencey
**Total Govt Grants**
**Other Non Govt Grant**
**Total Charitable Activities unrestricted**
HMRC Job Retention Scheme Grant
New Forest District Council Covid support
NFDC unrestricted grant|**Current Year 2022**|**Prior Year 2021**| |---|---|---| |||18,462| ||4,000|26,057| |||44,519| ||10,000|6,554| |||-| ||**14,000**|**51,073**| |||| ||**14,000**|**51,073**| Page 12 ## **Note 5 Analysis of Resources Expended** |**Expenditure on**|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**2022**
**Prior year**
**2021**
**£**
**£**
**£**
**£**
**£**
**Analysis**|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**2022**
**Prior year**
**2021**
**£**
**£**
**£**
**£**
**£**
**Analysis**|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**2022**
**Prior year**
**2021**
**£**
**£**
**£**
**£**
**£**
**Analysis**|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**2022**
**Prior year**
**2021**
**£**
**£**
**£**
**£**
**£**
**Analysis**|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**2022**
**Prior year**
**2021**
**£**
**£**
**£**
**£**
**£**
**Analysis**|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**2022**
**Prior year**
**2021**
**£**
**£**
**£**
**£**
**£**
**Analysis**| |---|---|---|---|---|---|---| ||2007 SpudYouth Tokyo|-|401|-|401|-| ||Our Common New Forest|-|1,137|-|1,137|-| ||Dementia|-|800|-|800|-| ||1906 LivingRoom||-||-|6,840| ||2004 ACE EmergencyFunding|-|-||-|1,500| ||New Forest Residency||2,194||2,194|-| ||2101 ACE- People and Engagement||23,835||23,835|15,000| ||2001 Hampshire & IOW||-||-|3,000| ||2206- NFDC Audience development|2,667|-||2,667|| ||2102 Spud Youth London|57|-||57|| ||2209 SpudOpen- New forest Park authority|164|600||764|| ||2201- Penguins Stakeholder|31|-|-|31|| ||2208- Childrens Artclub|370|-|-|370|| ||Spud Artistic Collective|650|-|-|650|| ||Spud Youth|50|-|-|50|| ||Salaries|34,688|39,795|-|74,483|61,005| ||Spudworks BuildingMaintenance|13,596|4,733|-|18,329|16,059| ||Handlebar Café Rent, Maintainence, Depn, provision.|8,458|-||8,458|34,906| ||Depreciation|5,717|4,684|6,000|16,401|14,657| ||Administration|9,036|-|-|9,036|10,229| ||Accountancy|3,197|||3,197|2,736| ||Interest on Loan|405|||405|435| ||**Total expenditure on charitable activities**|**79,086**|**78,180**|**6,000**|163,266|**166,367**| Page 13 ## **Note 6** ## **Fees for examination of the accounts** **Independent examiner’s fees Assurance services other than audit or independent examination Tax advisory fees Accountancy & Bookkeeping** |**2022**
**£**|**2021**
**£**| |---|---| |581|540| ||-| ||-| |2,575|3,576| ## **Note 7** ## **Cash at bank and in hand** **Short term cash investments (less than 3 months maturity date) Short term deposits Cash at bank and on hand Other Total** |**2022**
**£**|**2021**
**£**| |---|---| ||-| ||-| |123,163|109,818| ||-| |**123,163**|**109,818**| ## **Note 8 Fixed Assets Tangible fixed assets** **----- Start of picture text -----**
Investment Freehold Fixtures & Office and Total
Property: land & Fittings Computer
Handlebar buildings: Equipment
Café spudWORK
S and
studios
£ £ £ £
Cost or Valuation at 337,121 389,000 20,304 746,425
01/01/2022
Additions - - 2,156 1,918 4,074
Revaluations - - - -
At 31/12/2022 337,121 389,000 2,156 22,222 750,499
**----- End of picture text -----**
## **8.2 Depreciation and impairments** At 01/01/2022 Depreciation for the Year At 31/12/2022 ## **8.3 Net book value** Net book value at 01/01/2022 Net book value at 31/12/22 Depreciation Policies **Tangible fixed assets** |30,341|26,603||12,205|69,149| |---|---|---|---|---| |1,125|9,560|215|5,500|16,400| |**31,466**|**36,163**|**215**|**17,705**|**85,549**| |||||| |319,162|362,397|-|8,099|677,276| |**305,655**|**352,837**|**1,941**|**4,517**|**664,950**| Fixed assets are valued at cost. Computers are depreciated over 3 years on a straight line basis The spudWORKS building is depreciated over 50 years and the studios are depreciated over 25 years. **Investment Property** Fixed asset investments are valued initially at cost and depreciated over the life of the 25 year life of the lease. A provision for decommissiong has been included in cost. Page 14 ## **Note 9 Fixed Asset Investments** |**9.1**
Carrying (fair) value at 01/01/21 (Handlebar
Café)
**Add:**additions to investments during period
**Less:**disposals at carrying value
**Less: impairments**
**Add: Reversal of impairments**
**Add/(deduct):**transfer in/(out) in the period
**Add/(deduct):**net gain/(loss) on
revaluation
Carrying (fair) value 31/12/21
**Analysis of investments**
**Cash or cash equivalents**
**Investment property: Handlebar Café**
**Other investments**
**Total**
**Social investments**
**Listed investments**|**Cash & cash**
**equivalents**
**£**|
**Listed**
**investments**
**£**|**Investment**
**properties**
**£**|**Social**
**investments**
**£**|**Other**
**£**|**Total**
**£**| |---|---|---|---|---|---|---| ||
-|-|306,780|-|-|306,780| ||-|-|-|-|-|-| ||-|-|-|-|-|-| ||-|-|-|-|-|-| ||-|-|-|-|-|-| ||-|-|-|-|-|-| ||-|-|- 1,125|-|-|- 1,125| ||-|-|305,655|-|-|305,655| |||||||| ||||**Fair value at year end**
**£**||**Cost less impairment**
**£**|| ||||-||-|| ||||-||-|| ||||-||305,655|| ||||-||-|| ||||-||-|| ||||-||305,655|| **9.2 If your charity holds investment properties, please complete the following note:** |**(i) Explain the methods and significant**
**assumptions in determining the fair value of**
**investment property held by the charity**
**(ii) Name or independent valuer, if applicable, and**
**relevant qualifications**
**(iii) Provide details of any restrictions on the**
**ability to realise investment property or on the**
**remittance of income or disposal proceeds**
**(iv) Explain any contractual obligations for the**
**purchase, construction or development of**
**investment property or for repairs, maintenance**
**or enhancements**|The Handlebar Café is currently valued in the accounts at the
building cost, plus discounted de-commissioning cost, less
depreciation.| |---|---| ||As the building structure is expected to last in line with the lease
(25 years), this method has been selected rather than costly
annual revaluation.| ||
N/A| ||The Handlebar Café is built on land owed by Winchester City
Council, whose permission as head land lord would be required
for any change of use.| ||To the extent that any repair works needed to the Property are
not a consequence of any latent defect or insured risk the sub-
tennant shall keep the property in a state of tenantable repair and
good working order.| ||The council may request the site to be returned in a levelled state
upon the exit or end of the lease.| Page 15 ## **Note 10 Creditors and accruals** |**Creditors**
**Accruals**
**Loan - Handlebar Café**
**Total**|**Amounts falling due**
**within one year**|**Amounts falling due**
**within one year**|**Amounts falling due**
**after more than one year**|**Amounts falling due**
**after more than one year**| |---|---|---|---|---| ||**2022**
**£**|**2021**
**£**|**2022**
**£**|**2021**
**£**| ||5,530|3,988||-| ||4,559|1,836||| ||1,556|1,525|18,039|19,595| ||**11,645**|**7,349**|**18,039**|**19,595**| The Handlebar Café loan was used to fund building construction. The initial £25,000 loan received in March 2019 is being repaid over 15 years at an interest rate of 2%. It is due to be repaid in March 2034. It is not secured. ## **Note 11 Transactions with related parties** ## Trustee remuneration and benefits During the period, none of the trustees have been paid any remuneration or received any other benefits from an employment with the charity or a related entity. ## Trustees' expenses No trustee expenses have been incurred during the period. ## Transactions with related parties Maddison Collymore provided consultancy services to the charity for £50 (2021 £2k). All transactions were at market rate and arms length. ## **Note 12 Paid employees** ## **12.1 Staff Costs** |**12.1 Staff Costs**||| |---|---|---| |**Pension costs (defined contribution pension**
**plan)**
**Other employee benefits**
**Total staff costs**
**Salaries and wages including NI**|**Year ending**
**31st Dec**
**2022**
**£**|
**Year ending**
**31st Dec**
**2021**
**£**| ||71,576|67,835| ||2,908|2,530| ||-|-| ||**74,483**|**70,365**| **No employees received employee benefits for the reporting period of more than £60,000.** |**Project Management**
**Building Management**
**Total**
**12.2 Average head count in the year**|**Year ending**
**31st Dec**
**2022**|
**Year ending**
**31st Dec**
**2021**| |---|---|---| ||1|1| ||1|1| ||**2**|**2**| Page 16 ## **Notes to the accounts (cont.)** ## **Note 13 Provisions for liabilities and charges** _**Please complete this note if you have included in charity expenditure any provisions. A provision is made when the charity has a liability of uncertain timing or amount.**_ ## **13.1 Movements in recognised provisions and funding commitment during the period** |**Balance at the start of the reporting period**
**Amounts added in current period**
**Amounts charged against the provision in the current period**
**Unused amounts reversed during the period**
**Balance at the end of the reporting period**|**This year**
**£**|**Last year**
**£**| |---|---|---| ||19,296|-| ||594|19,296| |||-| |||-| ||19,890|19,296| |**13.2 Please provide:**
**- a brief description of any obligations on the**
**balance sheet and the expected amount and**
**timing of resulting payments;**
**- an indication of the uncertainties about the**
**amount or timing of those outflows; and**
**- the amount of any expected reimbursement,**
**stating the amount of any asset that has been**
**recognised for that expected reimbursement.**|**Lastyear**
**Thisyear**|**Lastyear**
**Thisyear**| |---|---|---| ||**_The Handlebar Café_**
**_investment property has_**
**_a provision for_**
**_decommission costs as_**
**_the lease states that the_**
**_landlord may require the_**
**_site to be levelled when_**
**_the tenant exits the lease._**|**_The Handlebar Café_**
**_investment property has_**
**_a provision for_**
**_decommission costs as_**
**_the lease states that the_**
**_landlord may require the_**
**_site to be levelled when_**
**_the tenant exits the lease._**| ||**_The date and amount_**
**_remain uncertain as it_**
**_depends if the lease is_**
**_broken at year 10 or_**
**_twenty five and the_**
**_landlord may not enforce_**
**_the clause if the building_**
**_is still in good working_**
**_order._**|**_The date and amount_**
**_remain uncertain as it_**
**_depends if the lease is_**
**_broken at year 10 or_**
**_twenty five and the_**
**_landlord may not enforce_**
**_the clause if the building_**
**_is still in good working_**
**_order._**| ||
**_The estimated expense is_**
**_£20,000 in today's prices._**
**_This has then be_**
**_extrapolated to take into_**
**_account inflation over 25_**
**_years, at an estimated 2%_**
**_PA and then discounted_**
**_at 2.44% to give a present_**
**_value of £17,959. An_**
**_annual finance charge of_**
**_£594 is taken to the_**
**_SOFA annually, to build_**
**_the provision up over the_**
**_life of the asset._**|**_The estimated expense is_**
**_£20,000 in today's prices._**
**_This has then be_**
**_extrapolated to take into_**
**_account inflation over 25_**
**_years, at an estimated 2%_**
**_PA and then discounted_**
**_at 2.44% to give a present_**
**_value of £17,959. An_**
**_annual finance charge of_**
**_£594 is taken to the_**
**_SOFA annually, to build_**
**_the provision up over the_**
**_life of the asset._**| Page 17 **Notes to the accounts (cont)** ## **Note 14 Charity funds** ## **14.1 Details of material funds held and movements during the CURRENT reporting period** _**Please give details of the movements of material individual funds in the reporting period together with a balancing figure for 'Other funds' (which should include revaluation reserve and fair value reserve, if applicable). The 'Total funds' figure below should reconcile to 'Total funds' in the balance sheet.**_ _*** Key: PE - permanent endowment funds; EE - expendable endowment funds; R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds**_ |**_funds_**||||||||| |---|---|---|---|---|---|---|---|---| |**Fund names**|**Type PE, EE,**
**D, R or UR ***|**Purpose and Restrictions**|**Fund**
**balances**
**brought**
**forward**
**£**|**Income**
**£**|**Expenditure**
**£**|**Transfers**
**£**|**Gains and**
**losses**
**£**|**Fund**
**balances**
**carried**
**forward**
**£**| |Artsway Endowment- Building
Fund|PE|Building|282,000|-|(£6,000)|£0|-|276,000| |ArtswayEndowment|EE||30,756|190|£0|(£190)|-|30,756| |SpudworkStudios|R|Building|80,397|-|(£3,560)|£0|-|76,837| |HandleBarCafé|R|Investment building|290,437|-|(£1,124)|£60|-|289,373| |2007-SpudYouth Tokyo|R|Youth visit toTokyo|4,000|-|(£401)|£0|-|3,599| |2109- New ForestResidency|R|Artistsresidency program|3,000|3,030|(£6,030)|£0|-|-| |2001- Hampshire &IOW|R|Artistsresidency program|3,600|-|(£3,600)|£0|-|-| |2205- Hampshire &
IOW/CharlesBurnettIII|R|Dementia co-ordination|-|12,500|(£800)|||11,700| |2101- ACE- People and
Engagement|R|People and Engagement for future
resilience.|23,000|32,332|(£55,332)|£0|-|-| |2204- New Forest Park
Authority|R|OurCommon New Forest|-|2,000|(£2,000)|£0|-|-| |2209- New Forest Park
Authority|R|SpudOPEN|-|600|(£600)|£0|-|-| |Restricted- Launchpad|R|Launchpad &LivingRoom|-|4,733|(£4,733)||-|-| |Designated|D|Threemonthsrunning costreserve||||£27,000|-|27,000| |Unrestricted-General|UR||31,965|113,132|(£79,085)|(£26,870)|-|39,142| |**_Other funds (balancing_**
**_figure)_**|**N/a**|**N/a**|-|-|£0|
£0|-|-| |**Total Funds as per balance sheet**|||749,155|168,517|(£163,265)|£0|-|754,407| |**Fund balances carried forward include assets and liabilities denominated in a foreign currenc**|||**y**|Yes*
No*

||||| |**_If yes, please state the basis on which the assets and/or liabilities have been translated into_**
**_sterling (or the currency in which the accounts are drawn up)._**||||||||| Page 18 **Notes to the accounts (cont)** ## **Note 14 Charity funds** ## **14.2 Details of material funds held and movements during the PREVIOUS reporting period** _**Please give details of the movements of material individual funds in the reporting period together with a balancing figure for 'Other funds' (which should include revaluation reserve and fair value reserve, if applicable). The 'Total funds' figure below should reconcile to 'Total funds' in the balance sheet.**_ _*** Key: PE - permanent endowment funds; EE - expendable endowment funds; R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds**_ |**Fund names**|**Type PE, EE**
**R or UR ***|**Purpose and Restrictions**|**Fund**
**balances**
**brought**
**forward**
**£**|**Income**
**£**|**Expenditure**
**£**|**Transfers**
**£**|**Gains and**
**losses**
**£**|**Fund**
**balances**
**carried**
**forward**
**£**| |---|---|---|---|---|---|---|---|---| |ArtswayEndowment- Building|PE|Building andfreeholdland|288,000|-|(£6,000)|-|-|282,000| |ArtswayEndowment|R||30,754|2|£0|-|-|30,756| |HandlebarCafé|R|Constructionon leasedland|319,162|17,959|(£49,637)|2,953|-|290,437| |Spudworks Studios|R|Building on freeholdland|83,957|-|(£3,560)|-|-|80,397| |Artsway Endwoment Fund|R||-|-|£0|-|-|-| |2007-SpudYouth Tokyo|R|Youth visit toTokyo||4,000|£0|-|-|4,000| |2109- New ForestResidency|R|Artistsresidency program|-|3,000|£0|-|-|3,000| |2001- Hampshire &IOW|R|Artistsresidency program|-|6,600|(£3,000)|-|-|3,600| |Launchpad|R|Livingroomspace||6,840|(£6,840)|-|-|-| |2101- ACE- People and
Engagement|R|People and Engagement for future
resilience.|-|38,000|(£15,000)|-|-|23,000| |Unrestricted-General|UR||19,265|115,942|(£100,289)|-2,953|-|31,965| |**_Other funds (balancing_**
**_figure)_**|**N/a**|**N/a**|-|-|£0|-|-|-| |**Total Funds as per balance sheet**|||741,138|192,343|(£184,326)|-|-|749,155| |**Fund balances carried forward include assets and liabilities denominated in a foreign currenc**|||**y**|Yes*
No*

||||| |||||||||| Page 19 ## **Independent examiner’s report to the trustees of SPUD (“the Trust”)** I report to the charity trustees on my examination of the accounts for the Company for the year ended 31 December 2022. ## **Responsibilities and basis of report** As the charity’s trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’). I report in respect of my examination of your charity’s accounts as carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner’s statement** Since the charity’s gross income did not exceed £250,000 your examiner does not need to be a member of a body listed in section 145 of the 2011 Act, however, I confirm that I am qualified to undertake the examination and am also a member of ICAEW (FCA), which is one of the listed bodies. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: 1. The accounting records were not kept in accordance with section 130 of the 2011 Act; or 2. the accounts did not accord with the accounting records; or 3. the accounts did not comply with the applicable requirements concerning the form and contents of accounts set out in the Charities (Accounts and Reports) Regulations 2008, 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, in accordance with the 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. Teresa Rogers BFP FCA Director June 2023 Tee Accounts Limited T/A On The Spot Rosehill House PL26 7BA Page 7