| Page | |||
|---|---|---|---|
| Reportofthe Trustees | to | 7 | |
| Independent Examiner's Report | 8 | ||
| StatementofFinancial Activities | 9 | ||
| Balance Sheet | 10 | ||
| Notes to the Financial Statements | 11 | to | 16 |
| Detailed StatementofFinancial Activities | 17 | to |
18 |
TURF PROJECTS
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 28 FEBRUARY 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Trustee Governance
The Board of Trustees holds quarterly meetings with the Co-Directors and Turf Team Members. As required the Trustees provide individual support to the charity between meetings. The Co-Directors and Turf Team are appointed to manage the day-to-day operations of the charity. We encourage our Trustees to immerse themselves fully with our audiences and local communities, therefore enhancing their roles as ambassadors for Turf Projects.
Purposes
The objects of the charity are to promote the arts for the benefit of the public by:
(A) Creating high quality exhibitions and arts events for Croydon that are free to the public;
(B) Contributing to the advancement of the arts in the area by providing opportunities for local Croydon residents and visitors to become involved in arts activities; and
(C) Supporting the development of artists who are in charitable need such as young artists starting out in life or artists that are demonstrably poor by creating exhibition and employment opportunities for them.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1160527
Principal address 46-4 7 Whitgift Centre Croydon Surrey CR0 IUQ
Trustees Dr YA Osam (resigned 30.11.23) U K Okoroafor - Treasurer I Z Southwood Ms E Breeze C Dawson J Messenbird (resigned 31.10.22) E Marsh (appointed 18.10.22) C Butler - Secretary (appointed 18.10.22) S Layton (appointed 18.10.22)
Independent Examiner Collards Chartered Accountants 5-9 Eden Street Kingston-upon-Thames Surrey KTI IBQ 21/12/2023 Approved by order of the board of trustees on ............................................. and signed on its behalf by:
E Marsh - Trustee
Page 7
21 December 2023
| Umestricted Restricted fund funds Notes £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 2,371 Charitable activities Charity running Costs 26,200 244,766 Other trading activities 2 50,609 743 Investment income 3 48 Total 79,228 245,509 EXPENDITURE ON Raising funds 7,913 20,230 Charitable activities Charity running Costs 65,120 77,858 Total 73,033 98,088 NET INCOME/(EXPENDITURE) 6,195 147,421 Transfers between funds 11 (2,370) 2,370 Net movement in funds 3,825 149,791 RECONCILIATION OF FUNDS Total funds brought forward 56,107 TOTAL FUNDS CARRIED FORWARD 59,932 149,791 |
2023 Total funds £ 2,371 270,966 51,352 48 324,737 28,143 142,978 171,121 153,616 153,616 56,107 209,723 |
2022 Total funds £ 558 97,677 38,203 4 136,442 20,480 121,841 142,321 (5,879) (5,879) 61,986 56,107 |
|---|---|---|
TURF PROJECTS
BALANCE SHEET 28 FEBRUARY 2023
| Umestricted fnd Notes £ FIXED ASSETS Tangible assets 6 1,783 CURENT ASSETS Stocks 7 4,575 Debtors 8 1,787 Cash at bank and in hand 59,773 66,135 CREDITORS Amounts flling due within one year 9 (7,985) NET CURRENT ASSETS 58,150 TOTAL ASSETS LESS CURRENT LIABILITIES 59,933 NET ASSETS 59,933 FUNDS 11 Umestricted fnds Restricted fnds TOTAL FUNDS 2023 Restricted Total fnds fnds £ £ 560 2,343 4,575 37,032 38,819 139,253 199,026 176,285 242,420 (27,055) (35,040) 149,230 207,380 149,790 209,723 149,790 209,723 59,933 149,790 209,723 |
2022 Total fnds £ 2,373 5,758 10,757 55,923 72,438 (18,704) 53,734 56,107 56,107 56,107 56,107 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were 21/12/2023 signed on its behalf by:
E Marsh - Trustee
The notes form part of these financial statements
Page 10
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Shop income | 1,453 | 3,013 |
| Studio income | 42,835 | 26,081 |
| Hire income | 625 | 3,675 |
| Other revenue | 6,439 | 5,434 |
| 51,352 | 38,203 |
| INVESTMENT INCOME | ||||
|---|---|---|---|---|
| 2023 | 2022 | |||
| £ | £ | |||
| Deposit account interest | 48 | 4 |
| Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 558 Charitable activities Charity running Costs 28,025 Other trading activities 38,200 Investment income 4 Total 66,787 EXPENDITURE ON Raising funds 3,971 Charitable activities Charity running Costs 33,800 Total 37,771 NET INCOME/(EXPENDITURE) 29,016 Transfers between funds (41) Net movement in funds 28,975 RECONCILIATION OF FUNDS Total funds brought forward 27,129 TOTAL FUNDS CARRIED FORWARD 56,104 |
Restricted funds £ 69,652 3 69,655 16,509 88,041 104,550 (34,895) 41 (34,854) 34,857 3 |
Total funds £ 558 97,677 38,203 4 136,442 20,480 121,841 142,321 (5,879) (5,879) 61,986 56,107 |
|---|---|---|
| 6. | TANGIBLE FIXED ASSETS | ||
|---|---|---|---|
| Fixtures | |||
| and | |||
| fittings | |||
| £ | |||
| COST | |||
| At 1 March 2022 | 2,948 | ||
| Additions | 700 | ||
| At28February 2023 | 3,648 | ||
| DEPRECIATION | |||
| At 1 March 2022 | 575 | ||
| Charge for year | 730 | ||
| At28February 2023 | 1,305 | ||
| NET BOOK VALUE | |||
| At28February 2023 | 2,343 | ||
| At28February 2022 | 2,373 | ||
| 7. | STOCKS | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Finished goods | 4,575 | 5,758 | |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Trade debtors | 7,972 | 138 | |
| Other debtors | 1,431 | ||
| Prepayments and accrued income | 29,416 | 10,619 | |
| 38,819 | 10,757 | ||
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Bank loans and overdrafts (see note10) | 18,165 | ||
| Trade creditors | 10,593 | 12,270 | |
| Other creditors | 6,282 | 6,434 | |
| 35,040 | 18,704 | ||
| 10. | LOANS | ||
| An analysisofthe maturity ofloans is given below: | |||
| 2023 | 2022 | ||
| £ | £ | ||
| Amounts falling due within one year on demand: | |||
| Bank overdrafts | 18,165 |
| MOVEMENT IN FUNDS | ||||
|---|---|---|---|---|
| Net movement At 1.3.22 in funds £ £ Unrestricted funds General fund 56,107 6,196 Restricted funds ACE_I_Propagate This 1 (29) ACE (Cultivate That) (1,181) GLA Communuity Producer 38,578 Paul Hamlyn 27,588 GLA Design Future London Challenge 6,260 MakeRoom 6,204 Desire Paths - LBoC 70,000 147,420 TOTAL FUNDS 56,107 153,616 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 79,228 Restricted funds ACE_I_Propagate This 1 ACE (Cultivate That) 25,861 GLA Communuity Producer 66,000 Paul Hamlyn 36,630 GLA Design Future London Challenge 7,860 MakeRoom 39,158 Desire Paths - LBoC 70,000 245,509 TOTAL FUNDS 324,737 |
Transfers between funds £ (2,370) 29 1,741 600 2,370 Resources expended £ (73,032) (29) (27,042) (27,422) (9,042) (1,600) (32,954) (98,089) (171,121) |
At 28.2.23 £ 59,933 560 38,578 27,588 6,860 6,204 70,000 149,790 209,723 |
||
| Movement in funds £ 6,196 (29) (1,181) 38,578 27,588 6,260 6,204 70,000 147,420 153,616 |
| Net | Transfers | |||
|---|---|---|---|---|
| movement | between | At | ||
| At 1.3.21 | in funds | funds | 28.2.22 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 27,129 | 29,019 | (41) | 56,107 |
| Restricted funds | ||||
| ACE (How to avoid Being Bitten) | 1 | (1) | ||
| ACE (Say it With Bricks) | 137 | (137) | ||
| CC (Cultural Partnership Fund - Say it with | ||||
| Bricks) | 152 | (152) | ||
| Croydon Council (MOSS 2020) | 2,413 | (2,413) | ||
| Croydon Council (Art Press 2020) | 2,407 | (2,407) | ||
| ACE / DCMS Funding | 28,888 | (28,930) | 42 | |
| Shape London - MOSS Grant | 859 | (859) | ||
| 34,857 | (34,898) | 41 | ||
| TOTAL FUNDS | 61,986 | (5,879) | 56,107 |
| Unrestricted funds General fund Restricted funds ACE (Say it With Bricks) CC (Cultural Partnership Fund - Say it with Bricks) Croydon Council (MOSS 2020) Croydon Council (Art Press 2020) ACE / DCMS Funding Shape London - MOSS Grant DCMS_I_ACE - Culture Recovery Fund ACE / Propagate This 1 Edward Gostlin TOTAL FUNDS |
Incoming resources £ 66,787 (1) 1 7,993 199 35,401 23,562 2,500 69,655 136,442 |
Resources Movement expended in funds £ £ (37,768) 29,019 (137) (137) (152) (152) (2,412) (2,413) (2,408) (2,407) (36,923) (28,930) (1,058) (859) (35,401) (23,562) (2,500) (104,553) (34,898) (142,321) (5,879) |
|---|---|---|
| INCOME AND ENDOWMENTS Donations and legacies Donations Other trading activities Shop income Studio income Hire income Other revenue Investment income Deposit account interest Charitable activities Grants Total incoming resources EXPENDITURE Other trading activities Event costs Artist fees Support costs Management Postage and stationery Finance Rates and water Insurance Light and heat Telephone Postage and stationery Bank charges Cleaning Information technology Fixtures and fittings Other Consultancy Operational management Project Management Fees Office expenses Travel |
2023 £ 2,371 1,453 42,835 625 6,439 51,352 48 270,966 324,737 11,781 16,362 28,143 1,105 802 4,734 1,440 11,171 126 1,328 20,706 730 2,950 29,223 67,568 10,844 18 110,603 |
2022 £ 558 3,013 26,081 3,675 5,434 38,203 4 97,677 136,442 4,940 15,540 20,480 4,507 540 751 4,765 1,830 555 194 1,266 9,901 575 3,750 26,359 56,288 11,526 59 97,982 |
|---|---|---|
| Other Governance costs Accountancy and legal fees Total resources expended Net income/(expenditure) |
2023 £ 10,939 171,121 153,616 |
2022 £ 8,876 142,321 (5,879) |
|---|---|---|