## ## |||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)| |---|---|---|