OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← Turf Projects

2024-03-31-accounts

REGISTERED CHARITY NUMBER: 1160527

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 MARCH 2023 TO 31 MARCH 2024

FOR

TURF PROJECTS

Collards Chartered Accountants 5-9 Eden Street Kingston-upon-Thames Surrey KT1 1BQ

TURF PROJECTS

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE PERIOD 1 MARCH 2023 TO 31 MARCH 2024

Page
Report of the Trustees 1 to 8
Independent Examiner's Report 9
Statement of Financial Activities 10
Balance Sheet 11
Notes to the Financial Statements 12 to 16
Detailed Statement of Financial Activities 17 to 18

TURF PROJECTS

REPORT OF THE TRUSTEES FOR THE PERIOD 1 MARCH 2023 TO 31 MARCH 2024

The trustees present their report with the financial statements of the charity for the period 1 March 2023 to 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

As Turf Projects marked its 10th anniversary in 2024, we looked back to reflect on and celebrate the successes and challenges of a decade operating as Croydon's homegrown art space; providing free exhibitions, workshops, events, and opportunities for artists and local people.

Building on an extensive period of research carried out during 2023-24, we recommitted to being locally rooted and led, with long-term commitment to Croydon that is based upon an ethos that communities know what's best for themselves. We also took the decision to cement the approach to place and space-responsive work which Turf has developed over the years. We aim for this to give grounding & focus to our programming, to solidify a curatorial identity for Turf, encompassing community & environmental practices.

We intend for this to be reflected in Turf's leadership & commissioning, which this year saw a continued focus on supporting local creativity through community initiatives. Turf played a key role as a Culture Hub as part of Croydon's year as London Borough of Culture (LBoC) and through the flagship Desire Paths project, which provided 9 commissions for local and early-career artists.

Our vibrant offer has continued to attract new visitors and growing levels of engagement, whether by exploring Croydon Folklore through Solastalgia, our continuing Fungus Press Residency, or the MOSS Collective, a group of makers inspired by their lives in Croydon.

As a team, we revisited our commitment to quality, transparency, accountability which we hope to be reflected in Turf's leadership & organisational structure.

We are also proud to have been granted NPO status by Arts Council England, and to have maintained key partnerships with funders, receiving support from the GLA and Croydon Council. These collaborations helped us secure essential funding for our artistic and community projects, ensuring Turf remains a dynamic cultural force.

Additionally, we made strides in expanding our governance by launching a trustee recruitment campaign, focused on ensuring diversity and inclusivity within the Board. This year, we appointed three new trustees, each bringing fresh perspectives and deepening our commitment to represent a wide range of voices from within the arts and local community.

As we look forward to 2024, our focus remains on fostering Croydon's creative ecosystem, providing platforms and practical support for artists, and building on our legacy of inclusivity, collaboration, and artistic excellence.

As trustees, we are heartened by consistent visitor feedback that Turf is a welcoming place and would like to thank the dedicated team that continue to make this possible.

We also want to thank everyone who has supported, visited, engaged or collaborated with Turf Projects during this special year in our history.

Page 1

TURF PROJECTS

REPORT OF THE TRUSTEES FOR THE PERIOD 1 MARCH 2023 TO 31 MARCH 2024

OBJECTIVES AND ACTIVITIES Objectives and aims

Summary of the purposes of the charity as set out in its governing document

The objects of the CIO 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.

Summary of the main activities in relation to those purposes for the public benefit

The main activities undertaken for public benefit have been;

Public benefit

The objectives and activities, and achievements and performance sections of this report clearly set out the activities which the charity undertakes for the public benefit. The trustees confirm that they have complied with the duty in section 4 of the Charities Act 2006 to have due regard to public benefit guidance published by the Commission in determining the activities undertaken by the charity.

Page 2

TURF PROJECTS

REPORT OF THE TRUSTEES FOR THE PERIOD 1 MARCH 2023 TO 31 MARCH 2024

ACHIEVEMENT AND PERFORMANCE

Charitable activities

Introduction; Turf & our charitable activities

"A fantastic space run by committed very caring artists. Such an invaluable space to lose yourself in. Best of all Turf makes art accessible." - Visitor feedback

Founded in 2013 by Croydon locals, Turf Projects is Croydon's homegrown artist space and the first entirely artist-run contemporary art space in the borough.

Based in Croydon's Whitgift Shopping Centre, we;

Turf is a registered charity (#1160527), and currently exists across two meanwhile-use retail units.

In making decisions about the charity's direction and ongoing activities, the trustees have given careful consideration to the guidance issued by the Charity Commission on public benefit.

During the period 1 March 2023 to 31 March 2024 Turf Projects delivered a range of residencies, commissions, exhibitions and projects across our two premises in Central Croydon, as well as offsite within the London Borough of Croydon.

All exhibitions & projects have their own integrated and targeted events and workshops.

We remained able to make these activities free to access. Over 4600 people directly engaged in our programmes, continuing our upwards trend of audience recovery post-Covid. Nearly 40% of these people engaged via workshops which provide an accessible route into what may be unfamiliar territory.

In October 2022 Turf was announced as having been successful in our application to become an Arts Council England National Portfolio Organisation, commencing our first year as an NPO in 2023. This means Turf has a stable source of grant funding for the next three years.

Free public exhibition & events programme:

"My relationship with Croydon has been rekindled! I have learnt so much from working on both projects and with the Turf staff - it's been an incredibly enriching experience and I'm really grateful for all the opportunities, trust and support! I have definitely done more socially engaged work as a result of working with Turf. Desire Paths was my first commission and the first time I gained access to a site and worked on a site specific public installation of this sort." - 'Desire Paths' Commissioned Artist

MakeRoom

Turning Turf into a shared exploratory studio, MakeRoom ran from January - April 2023, using workshops, drop-in sessions, and open access facilities to test out the possibilities of a shared makerspace in the borough. Open access facilities in ceramics, printmaking, and textiles were available, with photography and woodworking workshops happening frequently throughout the project. MakeRoom provided paid opportunities for nine local artists, hosted residencies for nine further artists and collectives, and reached over 2000 audience members with over 40 workshops and open-access sessions. 78% of attendees who reported their address lived in Croydon or the immediate neighbouring boroughs, showing a need for further opportunities to get involved in local arts activities.

Squidgy World

Contrary to the typical gallery experience, in 'Squidgy World', visitors were invited to both look and touch. Nine artists and groups showcased new work, much of it developed in residencies throughout MakeRoom, researching and questioning collaboration, comfort and connection.

Desire Paths

The Desire Paths project used creativity to focus on reclaiming and transforming local spaces. The project achieved significant community involvement, with workshops, performances, and exhibitions held at key locations offsite like South Norwood Library, and Reeves Corner, fostering dialogue about the emotional and social connections people have to these spaces. Notable outcomes include the co-creation of public artworks and the collaboration with local organisations, which encouraged discussions around urban development and the value of communal areas.

The projects succeeded in bringing diverse groups together, creating a sense of solidarity and ownership among residents.

Page 3

TURF PROJECTS

REPORT OF THE TRUSTEES FOR THE PERIOD 1 MARCH 2023 TO 31 MARCH 2024

At least 40% of participants were Croydon residents. Additionally, the project drew a higher number of first-time attendees than usual. Participants primarily consisted of women and nonbinary individuals, with a notable percentage identifying as disabled or neurodivergent. Participants fed back that they appreciated the opportunities for community building, creative learning, and exploring local issues through art.

Solastalgia

For the second year in a row, winter saw a studio member's showcase in the gallery space, with 21 staff members, studio holders, and in-house collectives coming together to create a communal Croydon folklore. Providing another exhibition opportunity for the artists we house continues our commitment to supporting the advancement of arts in our local area and the career development of local and early-career artists.

Fungus Press Outdoor Residencies;

Interwoven events & workshops

Each of the above projects was delivered with interconnected workshops & resources including walking tour events, audio described work to creatively led by artists, accompanying texts and more, providing familiar routes into project themes for those who might not otherwise engage in arts & culture.

100% of respondents found Turf welcoming!

87.7% rated Turf exhibitions & workshops 'Very Good' or 'Excellent'

2358 people engaged with us via events & workshops - this was a big increase and in particular the increase in practical workshops via MakeRoom was well received.

Learning programme & artist support

These included but are not limited to:

Families & schools programme

"Fantastic place for kids. My two enjoyed it and were fascinated with what they saw. Thank you for your work." "My autistic daughter and son are welcomed and supported" - Visitor feedback

Last year the majority of families at our Family Art Fun Days reported engaging with art and culture less than three times a year. To ensure we reach children with the most need, we worked with partners such as South Norwood Community Kitchen and Homestart. We are the only organisation in the borough offering free art activities for this age group, and thus demand is extremely high. In the next 24 months thanks to funding from Newby Trust, we plan to run the workshops monthly to cement Turf's position as a reliable presence for creativity in childrens' lives.

"They were so proud of it actually being a real show in a real gallery. They felt like proper artists! Thank you so much for the enriching collaborations and experiences that have truly been such a positive and enjoyable experience" Feedback from Robert Fitzroy Academy

Last year we engaged with 102 pupils engaged across The Link, New School and Croydon College. Planned activities in the next 24 months includes working in partnership with Croydon Council to deliver workshops at Turf for KS2 pupils. Our offer currently includes schools visiting our exhibitions and workshops at our space, but increasingly schools are requesting for workshops and activities to take place at the school, due to the limited resources to organise off-site activities and the demanding curriculum schedule.

Turf x Croydon School of Creative Arts Programme & Residency

Turf's annual CSoCA Residency ran successfully for the sixth year, with the 2023 resident creating an installation for our front window display, sharing work in 'Squidgy World', and going on to join our community of studio members by taking on a permanent desk space.

Collectives: Makers of Stuff Squad

"When the artist [Camberwell student] who responded to Brian's [MOSS artist] work showed their piece, the smile/excitement and pride on Brian's face was breathtaking" Jill (MOSS volunteer)

Page 4

TURF PROJECTS

REPORT OF THE TRUSTEES FOR THE PERIOD 1 MARCH 2023 TO 31 MARCH 2024

Turf continued to support and facilitate Makers of Stuff Squad (MOSS), a collective of local learning disabled artists. MOSS delivered weekly workshops and 1-2-1 artist development sessions led by their interests, in addition to trips to Fairfield Halls and collaboration with the Horniman Museum, activating their handling collection, and a continued studio provision. Supported by a GLA grant for diversity in the public realm, this year MOSS cocreated a public art installation of 10 mosaics in Croydon's Park Hill Park, insisting on visibility and legitimacy for learning disabled artists' practices in a public setting. MOSS artists developed skills in workshop leading, advertising, research, events and mosaic building amongst many other creative skills shared by the collective!

SoDaDa was a big part of MOSS' year - artists shared their skills at this collaboratively produced inclusive clubnight as part of FUSE, a collaboration between SLiDE, Turf and Club Soda which offer a fusion of dance, art and music led by learning disabled people.

Collectives: Art Press

"Turf Projects continue to support the local community of Croydon, including those coming from disadvantaged backgrounds. As a representative from a Social Enterprise that tackles knife crime & youth violence, Turf's free Project Space allowed us to deploy our tailored intervention work for young people in Croydon. The creative space with friendly support from the Turf team and rooms such as the 'Quiet Room', create a safe space and environment for anyone to be themselves in." - Neil Chamroo, founder of CeeWay Youth and frequent Art Press collaborator.

Art Press is a collective of young creatives (age 16-25) who have been working with Turf in monthly free workshops since 2017. We have worked in partnership with the National Autistic Society and the Croydon Young Carers service who have referred a number of young artists to Art Press. The young people that make up Art Press design their own programme by choosing which artists to meet, what processes to try, and how to showcase their work. We 'hand over the keys' so they can design their own workshop series, supporting them to create their own toolkit of skills.

In 2023-24 we delivered 12 monthly workshops working with creatives Campbell McConnell, Print Collective, and Kimberley Cookey-Gam and collaborating with other youth organisations such as Lives Not Knives and CeeWay. In 2024, participants are interested in learning employability skills and unlocking pathways to further engagement with arts and cultures.

Providing some of the most affordable artist studios in London

Our artist studios host 40 local artists who use the space throughout the week, creating a thriving self-organised community. Studios are stable and in high demand. Over 350 artists are now on the waiting list, and we prioritise studio members based locally and self described low income in addition to time on the waiting list. We began trialling a new non-studio membership for those who want to regularly use the space.

Turf continues to host other organisations at low cost; fellow nonprofit / charities SLiDE, Drunken Chorus, and Visually Impaired Artist Collective all benefit from use of our space at low cost. We continue to run a free Project Space open to use by local creatives for free of charge at its more visible and accessible space on the first floor. The project space was used by 23 local artists groups for creative events and exhibitions including: Poetry Slam National; Talawa theatre company; Bow Arts & Crescent Primary School; and Croydon School of Creative Art and independent artists including two from MOSS.

Emerging artist development

"The event I attended was excellent, organised by very knowledgeable and generous artists from Turf. This organisation is great, made up of a beautiful community of artists." - Feedback session attendee.

Turf provides early career support and development via practical workshops, advice surgeries and free/affordable resources to ensure artists have the tools to begin and sustain a creative career. Progression into creative careers through working at Turf is also common, with staff taking alternative vocational routes to higher education, and volunteers & collective members progressing to roles on our team and Board. Last year we ran 101 workshops, professional development activities benefiting 1200+ artists.

Educational projects and artist development work included: - Artist studio visits

Working with emerging, mid-career & established artists both locally (Croydon & London), Nationally & Internationally we have supported artists through commissioning new work. We have provided artist & production fees, admin support, residencies and advice.

Page 5

TURF PROJECTS

REPORT OF THE TRUSTEES FOR THE PERIOD 1 MARCH 2023 TO 31 MARCH 2024

Placements & Volunteers

"Turf began to make me realise how art is inevitably a part of the community and how it helps and improves the community. I wasn't aware of the influence that it has on the members of the community beforehand." - Volunteer feedback

As a charity organisation focusing on arts development and fair pay or opportunities, we continue to work with a volunteer model that mutually benefits both parties; providing space for volunteers to develop skills and gain an understanding of how our exhibitions and events are programmed and produced. Turf has a partnership with HEI Central St Martins, where we offer a rolling one-year volunteer placement initiative for London-based art students, who undertake a 'Diploma for Professional Studies' providing them the opportunity to develop professional skills. One of our placements has gone on to apply for and be offered a permanent position at Turf.

Audiences & outreach

In 2023 we saw total visitor numbers again increase, by 15% on 2022 figures, reaching nearly 5000 people directly. Nearly 50% of these visitors came via events, demonstrating the efficacy of our connected events providing accessible routes into culture for audiences.

60% known repeat visitors demonstrate our value to people as a social space and space of ongoing support, particularly amongst locals who made up 52.7% of our total audiences.

19.4% consider themselves to have a disability continuing to represent a higher than national percentage.

71% female & non binary audiences shows Turf is providing a safe space for female creatives, with Turf itself still female led.

33.3% were global majority - we need to work on this as we're aiming for this to be around 50% to match the demographic of our local area.

Age diversity continues to need improvement, though this may connect to data reporting practices as a) we rely on feedback forms for self reporting, which tends to have a lower frequency for younger age groups and b) in 2023 we needed to adapt our age bands to meet Arts Council NPO requirements, meaning age data was less accurate for a short time. Our most common age group is still 25-44 by a significant margin; our least common 75+.

30% engage in arts and culture only a few times per year or more seldom meaning we're reaching audiences who rarely engage in arts & culture.

Turf's online reach continued to grow with nearly 18,000 followers directly connected to us across social media platforms, a 20% increase on 2022. These channels continue to be vital platforms for us to platform artists' work as well as engage with our community both locally and nationally.

Page 6

TURF PROJECTS

REPORT OF THE TRUSTEES FOR THE PERIOD 1 MARCH 2023 TO 31 MARCH 2024

FINANCIAL REVIEW Financial position

The total Income for the period was £279,727. Consisting of £192,264 Unrestricted and £87,463 Restricted. The total Expenses for the year were £317,030. Consisting of £141,176 Unrestricted and £175,854 of Restricted.

Reserves and reserves policy

Reserves comprise £67,786 of Restricted Funds and £104,634 of Unrestricted Funds. It is the policy of the charity to keep a minimum of £40,000 in reserves in case the charity is forced to close. This sum represents the grand total of 3 month's operational costs to run the charity.

Funding

In the year ending 31 March 2024 we have secured funding & sponsorship from:

In Autumn 2023 it was announced that the Arts Council's National Porfolio Organisation funding period would be extended, meaning a stable source of grant funding up until 2027.

Turf continually aim to diversify our income streams through the work of the board and CoDirectors, commissioning external fundraising support where necessary. Our fundraising plans are reviewed and updated monthly.

Going Concern

After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt a going concern basis in preparing the financial statements. Further details regarding the going concern basis can be found in the Accounting policies.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

The charity was formed as a Charitable Incorporated Organisation on 17th February 2015 (1160527). While registered with the Charities Commission the organisation is not registered at Companies House.

Appointment of trustees

Any new charity Trustees are appointed & elected by the board of Trustees. Trustees are recruited through professional networks and through advertising in the local community & relevant organisations. We carry out regular audits of the skills of board members to monitor its expertise and the board appoints new members where necessary to fill skills gaps.

Trustee governance and structure

The Co-Directors and Turf Team are appointed to manage the day-to-day operations of the charity. 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.

We encourage our Trustees to immerse themselves fully with our audiences and local communities, therefore enhancing their roles as ambassadors for Turf Projects.

Two board subgroups - Programme, Access & Audiences and Operations & Development meet in between meetings. The purpose of the subgroups is to discuss and create a plan of action to address any arising risks, review and refine procedures or policies, and critically analyse the efficiency of the organisation's operations and delivery on charitable objectives.

Risk management

The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. In addition to the risk review process within the subgroups above, the Trustees are committed to reviewing the accounts on a quarterly basis in order to promote financial stability and avoid potential risks.

All core team members have attended Emergency First Aid training and completed online safeguarding training. At least one of these members of staff are present during Turf Project's opening hours to the public. A safeguarding reporting and actioning process is in place overseen by the organisation's Access Subgroup.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number

1160527

Page 7

TURF PROJECTS

REPORT OF THE TRUSTEES FOR THE PERIOD 1 MARCH 2023 TO 31 MARCH 2024

Principal address

46-47 Whitgift Centre Croydon Surrey CR0 1UQ

Trustees

U K Okoroafor - Treasurer C Dawson E Marsh C Butler - Secretary G Crannis (appointed 28.10.23) K Man (appointed 18.10.23)

Independent Examiner

Collards Chartered Accountants 5-9 Eden Street Kingston-upon-Thames Surrey KT1 1BQ

Directors & senior executives

R Atherton - CoDirector E R Crane - CoDirector Appointed 1st August 2023

Approved by order of the board of trustees on ............................................. and signed on its behalf by: 17/12/2024

.............................................................................. Trustee

Page 8

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF TURF PROJECTS

Independent examiner's report to the trustees of Turf Projects

I report to the charity trustees on my examination of the accounts of Turf Projects (the Trust) for the period 1 March 2023 to 31 March 2024.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, 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 giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content 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.

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.

Andrew Harker FCCA

Collards Chartered Accountants 5-9 Eden Street Kingston-upon-Thames Surrey KT1 1BQ

17/12/24 Date: .............................................

Page 9

TURF PROJECTS

STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 1 MARCH 2023 TO 31 MARCH 2024

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
1,648
Charitable activities
Charity running Costs
117,561
Other trading activities
2
72,744
Investment income
3
311
Total
192,264
EXPENDITURE ON
Raising funds
17,020
Charitable activities
Charity running Costs
124,156
Total
141,176
NET INCOME/(EXPENDITURE)
51,088
Transfers between funds
11
(6,387)
Net movement in funds
44,701
RECONCILIATION OF FUNDS
Total funds brought forward
59,933
TOTAL FUNDS CARRIED FORWARD
104,634		 Period
1.3.23
to
Year Ended
31.3.24
28.2.23
Restricted
Total
Total
funds
funds
funds
£
£
£
71
1,719
2,371
82,446
200,007
263,106
4,946
77,690
59,212
-
311
48
87,463
279,727
324,737
91,108
108,128
28,143
84,746
208,902
142,978
175,854
317,030
171,121
(88,391)
(37,303)
153,616
6,387
-
-
(82,004)
(37,303)
153,616
149,790
209,723
56,107
67,786
172,420
209,723		 Period
1.3.23
to
Year Ended
31.3.24
28.2.23
Restricted
Total
Total
funds
funds
funds
£
£
£
71
1,719
2,371
82,446
200,007
263,106
4,946
77,690
59,212
-
311
48
87,463
279,727
324,737
91,108
108,128
28,143
84,746
208,902
142,978
175,854
317,030
171,121
(88,391)
(37,303)
153,616
6,387
-
-
(82,004)
(37,303)
153,616
149,790
209,723
56,107
67,786
172,420
209,723
324,737
28,143
142,978
171,121
153,616
-
153,616
56,107
209,723

The notes form part of these financial statements

Page 10

TURF PROJECTS

BALANCE SHEET 31 MARCH 2024

Unrestricted
Restricted
fund
funds
Notes
£
£
FIXED ASSETS
Tangible assets
6
1,145
408
CURRENT ASSETS
Stocks
7
4,134
-
Debtors
8
1,615
10,706
Cash at bank and in hand
112,302
79,773
118,051
90,479
CREDITORS
Amounts falling due within one year
9
(14,561)
(23,102)
NET CURRENT ASSETS
103,490
67,377
TOTAL ASSETS LESS CURRENT LIABILITIES
104,635
67,785
NET ASSETS
104,635
67,785
FUNDS
11
Unrestricted funds
Restricted funds
TOTAL FUNDS
The financial statements were approved by the Board of Trustees and authorised for issue on ...............
signed on its behalf by:		 2024
Total
funds
£
1,553
4,134
12,321
192,075
208,530
(37,663)
170,867
172,420
172,420
104,635
67,785
172,420
.............................
17/12/2024		 2023
Total
funds
£
2,343
4,575
38,819
199,026
242,420
(35,040)
207,380
209,723
209,723
59,933
149,790
209,723
. and were

----- Start of picture text -----
.............................................
Trustee
----- End of picture text -----

The notes form part of these financial statements

Page 11

TURF PROJECTS

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 1 MARCH 2023 TO 31 MARCH 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. OTHER TRADING ACTIVITIES

Period
1.3.23
to Year Ended
31.3.24 28.2.23
£ £
Shop income 967 1,453
Studio income 58,190 42,835
Hire income 3,170 625
Other revenue 15,363 14,299
77,690 59,212

continued...

Page 12

TURF PROJECTS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 MARCH 2023 TO 31 MARCH 2024

3. INVESTMENT INCOME

INVESTMENT INCOME
Period
1.3.23
to Year Ended
31.3.24 28.2.23
£ £
Deposit account interest 311 48

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the period ended 31 March 2024 nor for the year ended 28 February 2023.

Trustees' expenses

There were no trustees' expenses paid for the period ended 31 March 2024 nor for the year ended 28 February 2023.

5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2,371
Charitable activities
Charity running Costs
26,200
Other trading activities
50,609
Investment income
48
Total
79,228
EXPENDITURE ON
Raising funds
7,913
Charitable activities
Charity running Costs
65,120
Total
73,033
NET INCOME
6,195
Transfers between funds
(2,370)
Net movement in funds
3,825
RECONCILIATION OF FUNDS
Total funds brought forward
56,107
TOTAL FUNDS CARRIED FORWARD
59,932		 Restricted
funds
£
-
236,906
8,603
-
245,509
20,230
77,858
98,088
147,421
2,370
149,791
-
149,791		 Total
funds
£
2,371
263,106
59,212
48
324,737
28,143
142,978
171,121
153,616
-
153,616
56,107
209,723

continued...

Page 13

TURF PROJECTS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 MARCH 2023 TO 31 MARCH 2024

6. TANGIBLE FIXED ASSETS

COST
At 1 March 2023 and 31 March 2024
DEPRECIATION
At 1 March 2023
Charge for year
At 31 March 2024
NET BOOK VALUE
At 31 March 2024
At 28 February 2023
7.
STOCKS
Finished goods
8.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
Prepayments and accrued income
9.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 10)
Trade creditors
Other creditors
10.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank overdrafts		 Fixtures
and
fittings
£
3,648
1,305
790
2,095
1,553
2,343
2024
2023
£
£
4,134
4,575
2024
2023
£
£
-
7,972
1,638
1,431
10,683
29,416
12,321
38,819
2024
2023
£
£
5,198
18,165
23,553
10,593
8,912
6,282
37,663
35,040
2024
2023
£
£
5,198
18,165		 Fixtures
and
fittings
£
3,648
1,305
790
2,095
1,553
2,343
2024
2023
£
£
4,134
4,575
2024
2023
£
£
-
7,972
1,638
1,431
10,683
29,416
12,321
38,819
2024
2023
£
£
5,198
18,165
23,553
10,593
8,912
6,282
37,663
35,040
2024
2023
£
£
5,198
18,165
38,819
2023
£
18,165
10,593
6,282
35,040
2023
£
18,165

The bank overdraft represents an overspend at the balance sheet date on restricted funds due to grants being received late.

continued...

Page 14

TURF PROJECTS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 MARCH 2023 TO 31 MARCH 2024

11. MOVEMENT IN FUNDS

MOVEMENT IN FUNDS
Net
movement
At 1.3.23
in funds
£
£
Unrestricted funds
General fund
59,933
51,089
Restricted funds
ACE (Cultivate That)
560
(152)
GLA Communuity Producer
38,578
(25,316)
Paul Hamlyn
27,588
5,875
GLA Design Future London Challenge
6,860
(2,440)
MakeRoom
6,204
(10,948)
Desire Paths - LBoC
70,000
(61,865)
GLA Untold Stories
-
(1,643)
CMA Place Partnership
-
3,097
Family workshops - Newby Trust
-
5,000
149,790
(88,392)
TOTAL FUNDS
209,723
(37,303)
Net movement in funds, included in the above are as follows:		 Transfers
between
funds
£
(6,387)
-
-
-
-
4,744
-
1,643
-
-
6,387
-		 At
31.3.24
£
104,635
408
13,262
33,463
4,420
-
8,135
-
3,097
5,000
67,785
172,420
Unrestricted funds
General fund
Restricted funds
ACE (Cultivate That)
GLA Communuity Producer
Paul Hamlyn
GLA Design Future London Challenge
MakeRoom
Desire Paths - LBoC
GLA Untold Stories
CMA Place Partnership
Family workshops - Newby Trust
TOTAL FUNDS		 Incoming
resources
£
192,264
-
-
36,631
1
35,833
1
3,997
6,000
5,000
87,463
279,727		 Resources
Movement
expended
in funds
£
£
(141,175)
51,089
(152)
(152)
(25,316)
(25,316)
(30,756)
5,875
(2,441)
(2,440)
(46,781)
(10,948)
(61,866)
(61,865)
(5,640)
(1,643)
(2,903)
3,097
-
5,000
(175,855)
(88,392)
(317,030)
(37,303)		 Resources
Movement
expended
in funds
£
£
(141,175)
51,089
(152)
(152)
(25,316)
(25,316)
(30,756)
5,875
(2,441)
(2,440)
(46,781)
(10,948)
(61,866)
(61,865)
(5,640)
(1,643)
(2,903)
3,097
-
5,000
(175,855)
(88,392)
(317,030)
(37,303)
(88,392)
(37,303)

continued...

Page 15

TURF PROJECTS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 MARCH 2023 TO 31 MARCH 2024

11. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net Transfers
movement between At
At 1.3.22 in funds funds 28.2.23
£ £ £ £
Unrestricted funds
General fund 56,107 6,196 (2,370) 59,933
Restricted funds
ACE / Propagate This 1 - (29) 29 -
ACE (Cultivate That) - (1,181) 1,741 560
GLA Communuity Producer - 38,578 - 38,578
Paul Hamlyn - 27,588 - 27,588
GLA Design Future London Challenge - 6,260 600 6,860
MakeRoom - 6,204 - 6,204
Desire Paths - LBoC - 70,000 - 70,000
- 147,420 2,370 149,790
TOTAL FUNDS 56,107 153,616 - 209,723
Comparative net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 79,228 (73,032) 6,196
Restricted funds
ACE / Propagate This 1 - (29) (29)
ACE (Cultivate That) 25,861 (27,042) (1,181)
GLA Communuity Producer 66,000 (27,422) 38,578
Paul Hamlyn 36,630 (9,042) 27,588
GLA Design Future London Challenge 7,860 (1,600) 6,260
MakeRoom 39,158 (32,954) 6,204
Desire Paths - LBoC 70,000 - 70,000
245,509 (98,089) 147,420
TOTAL FUNDS 324,737 (171,121) 153,616

12. RELATED PARTY DISCLOSURES

There were no related party transactions for the period ended 31 March 2024.

Page 16

TURF PROJECTS

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 1 MARCH 2023 TO 31 MARCH 2024

FOR THE PERIOD 1 MARCH 2023 TO 31 MARCH 2024
Period
1.3.23
to Year En ded
31.3.24 28.2.23
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 1,719 2,371
Other trading activities
Shop income 967 1,453
Studio income 58,190 42,835
Hire income 3,170 625
Other revenue 15,363 14,299
77,690 59,212
Investment income
Deposit account interest 311 48
Charitable activities
Grants 200,007 263,106
Total incoming resources 279,727 324,737
EXPENDITURE
Other trading activities
Event costs 6,232 11,781
Artist fees 101,896 16,362
108,128 28,143
Support costs
Finance
Rent, rates and water 6,054 1,105
Insurance 1,036 802
Light and heat 14,914 4,734
Telephone 2,210 1,440
Postage and stationery 16,478 11,171
Bank charges 324 126
Cleaning 2,623 1,328
43,639 20,706
Information technology
Fixtures and fittings 791 730
Other
Consultancy 8,465 2,950
Operational management 66,345 29,223
Project Management Fees 64,480 67,568
Office expenses 16,376 10,844
Travel 742 18
156,408 110,603

This page does not form part of the statutory financial statements

Page 17

TURF PROJECTS

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 1 MARCH 2023 TO 31 MARCH 2024

Period
1.3.23
to Year En ded
31.3.24 28.2.23
£ £
Other
Governance costs
Accountancy and legal fees 8,064 10,939
Total resources expended 317,030 171,121
Net (expenditure)/income (37,303) 153,616

This page does not form part of the statutory financial statements

Page 18