**Charity Registration No. 1160814** **Company Registration No. 6972813 (England and Wales)** ## **SMALL GREEN SHOOTS** ## **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 MARCH 2021** ## **SMALL GREEN SHOOTS** ## **LEGAL AND ADMINISTRATIVE INFORMATION** |**Trustees**|Mr S Kidby|| |---|---|---| ||Mr G Mandel|| ||Miss D Morgan|| ||Miss E Obianagha|| ||Mr E Rich OBE|| ||Mr J A Sidnick|| ||Miss L Thomas|| ||Ms R Hayles|| ||Ms L N Loadsman|(Appointed 29 July 2020)| |**Charity number**|1160814|| |**Company number**|6972813|| |**Registered office**|54 Chalton Street|| ||London|| ||NW1 1HS|| |**Independent examiner**|F J Wilde FCCA MBA DChA|| ||Warner Wilde|| ||4 Marigold Drive|| ||Bisley|| ||Surrey|| ||GU24 9SF|| |**Bankers**|Barclays Bank Plc|| ||Leicester|| ||Leicestershire|| ||LE87 2BB|| ## **SMALL GREEN SHOOTS** ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|1 - 6| |Independent examiner's report|7| |Statement of financial activities|8| |Balance sheet|9| |Notes to the financial statements|10 - 20| ## **SMALL GREEN SHOOTS** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 MARCH 2021**_ The trustees present their report and financial statements for the year ended 31 March 2021. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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)". ## **Objectives and activities** Small Green Shoots’ purposes as set out in the objects contained in the company's Articles of Association are to: 1. To act as a resource for young people, in particular but not exclusively y ou ng people who are not in education, employment or training by using arts and creativity as a means of: (a) Advancing in l ife and helping young people by developing their skills, capacities and c apabilities to enable them to participate in society as independent, mature and responsible individuals ; (b) Advancing education; - (c) Relieving unemployment; (d) providing recreational and leisure time activity in the interests of social welfare for p eople living in the area of benefit who have need by reason of their youth, age, infirmity or disability, poverty or social and economic circumstances with a view to improving the conditions of life of such persons; 2. To promote social inclusion for the public benefit by preventing people from becoming socially excluded, relieving the needs of those people who are socially excluded and assisting them to integrate into society. Small Green Shoots’ aims are to increase opportunities for excluded young people to find employment and education in the creative industries and beyond. To provide innovative and creative ways of increasing positive participatory activities for disadvantaged young people which engage them and increase their confidence, skills base and networks. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. - 1 - ## **SMALL GREEN SHOOTS** ## **TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 MARCH 2021**_ ## **H ighlights** 2020/21 was a time of exceptional growth and change for Small Green Shoots (SGS). The Covid-19 Pandemic, Black Lives Matter activism and the youth unemployment crisis has galvanised us in our mission and attracted high levels of support for our work, but brought with it unprecedented demand for our services and required us to work at a fast pace to meet the challenges of the past year. ## **In 2020/21 we have:** - Drawn on the support and hard work of our trustees, shoots and staff to recover from the pandemic and continue to develop SGS. - Created new opportunities for young people and worked online and offline to deliver these. - Increased our turnover by 87% from £297,137 to £595,635. - Opened a second office and tripled the number of young people we are supporting at any one time. - Rebranded the organisation for the first time in 10 years and built a new website for the first time in 5 years including delivering a communications strategy to drive a campaign of corporate fundraising which has already yielded over £50,000 of financial and in-kind support from businesses. - Raised our profile in industry with a 5-page feature in Music Week, the leading national music industry publication. - Articulated our central aim to support young people who have experienced racism and poverty to take part in the arts; access high-skilled careers in the creative industries; and put their voices at the forefront of what we do. - Hired a Youth Manager to develop our young people (from March 2021). - Worked with partners including EOne, Tileyard Studios, Tileyard Impact, the Music Publishers Association, Fitzrovia Youth in Action, Copenhagen Youth Project, Kings Place, Camden Council, Islington Council, New Young Horizons, Solace Women’s Aid, Westminster Kingsway College, Islington Arts & Media School, Highbury Grove School, Big Creative Education, HS2, Urban Partners, Argent, KX Estate, The Living Centre, Somerstown Community Centre, Coram Fields, Phoenix Court, Camden Giving, Islington Giving, Google, YouTube, Blackstar London, Island Records and others. We have used corporate partnerships to provide industry training to our Shoots from executives of these companies. - Announced our first charity ambassador, Grammy nominated British music artist Mahalia. SGS supported Mahalia when she was an aspiring teenage musician, and she has now gone on to major critical and commercial success. ## **Our beneficiaries** We work with young people aged 16-24 who are Not in Employment, Education or Training (NEET) or at risk of being NEET, and have experienced racism, poverty or both. We continue to combine work in London with targeted outreach to 2 or 3 areas outside London each year and have developed several projects in the Midlands and South East of England. ## **Creative Outreach and Entrepreneurship Projects** Our creative outreach programme delivers short (8-10 week) projects for NEET young people in areas of high deprivation. Our ‘Education by Stealth’ approach, mentioned above, means young people take part in artistic and creative programmes that are relevant and credible to them, but underlying there are a series of embedded literacy, presentation skills and soft skills that lead to accreditation, access to services and work readiness. For example, workshops led by popular spoken word, music and performance artists on lyrics and poetry hosted are hosted at libraries, so the young people gain membership, research and language skills and earn bronze arts awards. Each project ends with performances or exhibitions attended by local colleges, organisations and employers who signpost users to other opportunities. - 2 - ## **SMALL GREEN SHOOTS** ## **TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 MARCH 2021**_ We take referrals from a variety of places including Pupil Referral Units, other youth charities such as New Horizons, youth clubs and the Shoots who actively recruit through peer-to-peer marketing. We also advertise these opportunities online and through social media. In 2020/21 we piloted the “Short Sharp Shot” project where young people “Sharpies” took part in an intensive programme of professional development and were supported into jobs and career opportunities co-ordinated by our team. ## **Young Shoots Programme** The Young Shoots programme is our in-house development scheme, launched in 2015, where we train and develop disadvantaged young people for positions in the creative industries and beyond. The bespoke nature of this programme requires significant resources but continues to be hugely successful. We have a wide range of contacts in the creative industries and have been developing more relationships with local businesses in the King's Cross regeneration area and in the music industry for the benefit of our Shoots. For example, the music industry engagement with the Shoots and Sharpies programme is now cemented as demonstrated with regular and repeat corporate funded secondments and internships for the Shoots, and inkind involvement with music industry personnel taking part in the Sharpie programme providing guest speakers, presentations, demonstrations and Q&A sessions. Our projects all have a creative and artistic element to attract our young recruits and engage them in learning and skills development (we call this ‘Education by Stealth’). Based in our office, the Shoots help deliver our daily business, learning a variety of transferrable skills (e.g., budgeting, proposal writing and scheduling) in the process. Many of our Shoots have multiple issues that have contributed to their inability to find work or access educational opportunities. Some have learning difficulties or a history of mental illness; others lack confidence or find themselves isolated after extended bouts of exclusion from school or long-term unemployment. We take a holistic approach, seeing each candidate as an individual, and work with him or her to create a bespoke learning and work plan. In 2020/21 Shoots designed, developed and managed projects, events and activities that supported their peers through the provision of skills, training and access to employment and education. We particularly focused on retaining all of our Shoots through the pandemic and on developing skills around working from home and presenting projects digitally. While leading this work, Shoots are enhancing their skills, establishing new ones, developing new contacts and advancing their chances for work or higher education. This year we have had several notable successes including Shoots moving on to full-time employment within the music industry. Destinations in 2020-21 included Cooking Vinyl, the Music Publishers Association, Ministry of Sound, Blackstar London and Weiden+Kennedy. ## **Artistic Programme** SGS’ artistic programme aims to produce high-quality cultural events that benefit young people as participants. The programme was severely restricted due to the pandemic, but fortunately we were able to adapt to an online programme and look at how we could support artists through the pandemic. - 3 - ## **SMALL GREEN SHOOTS** ## **TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 MARCH 2021**_ We created an action group for artists that helped raise funding for 40 artists. We piloted a partnership with Pirate Studios which benefited 37 artists with studio time. We created the ADAPT scheme to help artists and creatives access equipment, training and consultancy (funded from our unrestricted income) helping 18 artists. We created The DJ Network to tackle the hardship of DJs during the pandemic. 89 DJs took part in the events, and we were able to give guidance or access to funding for many of them. We created the Play It Back Scheme with Fragmented Music (aka Metrophonics Ltd) to distribute a fund of £50,000 to musicians affected by Covid-19. We created a digital device scheme to collect, securely wipe, and loan digital devices to young people to access their education and our programme during lockdown. We created a range of social media and digital content including video themed around Refugee Week (Stateless Stories), National Poetry Week (Snap Stories), LGBT Month (Humans of Pride) and our Covid Diaries series. During the year the number of Instagram followers went up from 944 to 1,751 demonstrating the much higher demand for online content. Highlights included a commission in partnership with Camden Council for poet Zena Edwards to record her poem “In the spirit of protest” exploring activism today. The Bars and Conversations podcast was produced by the Sharpies, who interviewed artists about what Black History Month means to them. This was the first time we have produced a podcast. The FundaMentals (mental health support) sessions were piloted online with Westminster Kingsway College and Solace Women’s Aid. ## **Financial review** Total income for 2020/21 was £595,635 (compared with £297,137 in 2019/20 and £284,049 in 2018/19). 2020/21 was year 3 of a 4-year funding agreement with Arts Council England, our largest single funder, and due to the pandemic that funding agreement was extending for a further year through to March 2023. It was also the final year of the 3-year FundaMentals programme with funding from Comic Relief over three years (£138,343 in total). Consultancies earned £73,104 of income (decreased from £79,413 in 2019/20) by delivering support such as evaluation, marketing and project consultancy for other arts organisations. This was used to fund core costs and build up reserves, and although consultancy income was disrupted at the start of the pandemic it did recover by the year end. Small Green Shoots was also grateful for support from other trusts and foundations including City of London’s London Community Response Fund, Camden Giving Future Changemakers, Camden Giving KX Fund, Camden Giving Social Action Fund, Camden CIL Section 106 Fund, Children In Need, Comic Relief, Somers Town Big Local, Somerstown Community Association, London Youth and PRS Foundation. The trustees will continue to invest in trusts and foundations fundraising to support our mission. We also launched a programme to develop our philanthropic donations and we were pleased to receive donations from businesses including Concord Music, Giant Artist Management, Generation Foundation, Insanity Records, Metrophonics Ltd (Fragmented Music), Phonographic Performance Ltd, SJM Ltd and WWKD and the individual donors to who kindly gifted money to the charity via Just Giving and Benevity. As trustees we now need to consolidate and balance our income over the next few years, as our core funding and earned income has reduced as a percentage of our overall income. - 4 - ## **SMALL GREEN SHOOTS** ## **TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 MARCH 2021**_ ## **E xpenditure** Expenses for 2020/21 were £488,041 (vs. £314,738 for 2019/20 and £278,190 in 2018/19) We carried across some unspent restricted funding to 2021/22 because the second ‘lockdown’ period in the UK in winter 2020/21 meant that we couldn’t deliver all of our services as quickly as we had planned. Employee costs we saw increase as SGS hired a permanent administrator, moved freelance staff onto permanent contracts and increased the number of trainees and apprentices in the team – and we saw the impact of this for a full year for the first time. Our workshop expenses decreased as we delivered almost all work in the year online, and postponed some of the workshop activities until after lockdown. Our artist costs increased as we managed a fund of £50,000 from one of our donors that we distributed as grants to artists, and generally tried to commission and work with artists where possible and support them through the pandemic. We increased our spending on fundraising and publicity, after a year of relatively low fundraising costs and spending very little on publicity. This was in line with our strategy to invest in developing new income streams over the medium-term. We also increased our office expenditure, having opened a second office space. ## **Reserves Policy** As trustees we examined the charity's requirements for reserves in light of the main risks to the organisation. We have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be equivalent to a minimum of 3 months’ expenditure. Our previous target was £70,000, but the trustees have now increased the target to having £153,906 of reserves by 2022/23. Our unrestricted reserves at the end of 2020/21 stood at £58,522 (2019/20: £40,933). Restricted reserves were £89,806 (2019/20: -£199) ## **Risk Management** We have continued to mitigate identified risks to Small Green Shoots. Trustees have created a risk register which we monitor regularly and look at risks including safeguarding, financial risks, health and safety (including Covid-19), governance, staffing and organisational risks to delivery of programme and reputation. ## **Plans for the future** With the ongoing pandemic and the string of connected educational, social and financial implications for young people, we anticipate the need for our work to only increase. We are looking ahead to how we fundraise and organise to support young people including looking closely at the structure we need and investing in systems, delivery staff and management to ensure we are meeting their needs. We plan to build on the positive reception to our rebranding and the strong philanthropic relationships that we have developed. We will be strengthening our leadership team, and developing a new 5-year strategic plan. We will also be investing in our processes and quality assurance by completing our application for the Trusted Charity Mark with support from Camden Council, and completing the London Youth Silver Mark. - 5 - SMALL GREEN SHOOTS TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2021 Struc￿1#, governanc• management Tho organigation is a ¢harrtatse company Ilmiled by guarantee, incxjrporated on 2L>J9 an¢J registered a8 a charity In March 2015. The Company was establisheA Artths ofAssocaat1￿ which 8slabli8hed the objects ancs powers of the charttable ￿)mpanY. The tru8lees, who are ai40 the diredors forthe of comF4ny18w. Ytho 8eNed duriro the yeai and up to tho ¢Jate of $lgnab)re of the ftn8ndal statements V*pre.' Mr S Kkyby Mr G Mandel Miss D Morgan Mi$$ E Obianagha Mr E Rich 08E Mr J A Skdnl¢k MIS8 L Thoma8 MS R Hayle8 Ms L N Loadsman 14wointed 29 July 20201 Tru6lee6 elect the management committ08. th19 ts reV￿ved annually. Nominees are put forward via an open and transparent procass by management annually and 8ubje¢t to vote by the Tru6tets8. New Iruslees then be 8UPkX)rted wlth Iralnlng Ilf ne¢e888ry1 and re8ourco8 from the out8et. None ol the trustees ha8 any benefl¢o1 intèrest in the company. AJI of the tru•¢ees are memtr*r8 ol th? Company and guarantee to conlrlbulè £10 in the event of a ￿ndifig up. Undor the requlremenl8 of the Article8 ofA8sodallon m•mbers of the Managemènt Committoo aro eloded lo 88rve for a perlod ol flve years after Ythith they my8t t¢ re4lected at the next Annual General Meeting. All members ofthe Managern•nt Committee gfv• Ihair Ilme volunlartly and received no tenefit8 from the ¢harty. No Tru8le& r•¢eivtrJ any remunerat*)n. The IruBteg6' report wa8 8pkYoved by tha Board ofTrustM8. Ml8$ E 0￿#￿¥ha Trustee Dated." .L.: SMALL GREEN SHOOTS INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SMALL GREEN SHOOTS I rewjrt to th• trustees on my examinth'on ofthe financHI statements of SmaTh Green Sh¢)ots (the charity) for the year ended 31 Mar¢h 2021. R•S￿n•￿bIlItIH and bAsl• of r•wt A¥ thÉ Irustèes of the charity land a150 ts directors for the purFX)se5 of wmpany lawl you are responsible for the preparation of the finonwl slalements in acrnrdan￿ with the requirement$ ol the Componieg Act 2006 Ilhe 2CK6 Act) Ha￿fig 8alk5fitrJ Myself that the finandal 8tstements of the tharty are Th)t required to be aL￿￿rted under P4rt 16 01 the 20CE Ad and are eljoible lor indeptsndent exarnlnal￿n. I rewt in resped of my examination ollhe charity'8 linancl41 statement8 carr*d out undw seCt￿n 145 of the Charrti&s Act 2011 Ith8 2011 Act). In carrying out my examination I have fOll¢m￿ all the aFplicable Dire¢tton8 given by the Ch8rily Commission under se¢tion 14515llbl of the 2011 A¢t. Indèpèndent examlnor'8 8tatem•nt Since the charity'8 gross income exceeded £250,(¥JO your examiner must be a member of a b&gy li818d in Sectlon 145 of the 2011 Act. l ¢onfifm thal l am qualified lo utKlertaKe the ex8minalion because l am a member ofthe A880ciation ol Chartered Certlfi&l AcoyJntsnt8. ￿1c￿ IB one oflhe IlJt&J bodleo. I have compl8l8d my examlnallcfi. l ¢onllrm that ￿ matter8 have ¢omo to my attenllon Sn conntrctlon w￿h th& •xominalion gNlryJ rne cause lo telieve that in any material respect.. accounliro records were not kep* In re8F*Ct of the charty as fequiied by Bectkjn of the 2￿8 Act,. or the flnonclal 6ts1ements do not accord wilh Itt￿ re¢oth or the finonclal slalements do not compty wlh the accounliffj r￿uIreMentS 018e¢tknn 396 of the 20Cé A¢t oth&r th¥n any requirement that the accounts gNe a true and lair w8w vknl¢h h not a matter ¢on$idered a9 part ol an independenl examlnalion., or the financlal 8lalements have ngt be¢n pr¢p8red in a¢¢ordance wrth the methods and principles of the Statemernt ol Recommendgd Pract1￿ IC￿ a¢coynllrvJ and rowrtlro by charilles appllcable lo ¢harllie8 preparing their accounts in accordartce with the Financi￿ Rep)rtiThJ Standafd applicable In the UK and Republic ol Ireland IFRS 1021. I have no ¢oncern8 and have comts ac¥o88 no other matter¥ In connecllon vllh the &xamlnalSon to vthich attention shouks be drawn in thi8 report n order to enat4e a proFer undetslanding of the financial slalements lo be reached. F J Wilde FCCA MBA CChA Wamer Wikle 4 MarkJokd Drlve Blsley Surrey GU24 9SF 1021 ## **SMALL GREEN SHOOTS** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 MARCH 2021**_ |**Unrestricted**
**Restricted**
**funds**
**funds**
**2021**
**2021**
**Notes**
**£**
**£**
**Income and endowments from:**
Donations
**3**
305,834
184,503
Other trading activities
**4**
73,104
-
Other income
**5**
32,194
-
**Total income**
411,132
184,503
**Expenditure on:**
Raising funds
**6**
23,234
-
Charitable activities
**7**
370,309
94,498
**Total resources**
**expended**
393,543
94,498
**Net income/(expenditure)**
**for the year/**
**Net movement in funds**
17,589
90,005
Fund balances at 1
April 2020
40,933
(199)
**Fund balances at 31**
**March 2021**
58,522
89,806|**Total**Unrestricted
Restricted
funds
funds
**2021**
2020
2020
**£**
**£**
**£**
490,337
149,801
58,665
73,104
79,413
-
32,194
9,258
-
595,635
238,472
58,665
23,234
7,209
-
464,807
243,444
64,085
488,041
250,653
64,085
107,594
(12,181)
(5,420)
40,734
53,114
5,221
148,328
40,933
(199)|Total
2020
**£**
208,466
79,413
9,258
297,137
7,209
307,529
314,738
(17,601)
58,335
40,734| |---|---|---| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. - 8 - SMALL GREEN SHOOTS BALANCE SHEET AS AT 31 MARCH 2021 2021 2020 Nots8 Flx•d assots Tangl￿e assets Currgnt assets Dèbtor8 Cash at bank and In hand 12 8.3)S 8,354 13 19.915 160.453 10.810 47.198 180.368 58.008 Crgdltors: •mounts f•lllng du• wlthln on• year 14 140.3451 123,6281 Nel ￿rrent a￿et6 140,￿23 34,380 Total a8•ets l•M curr•nt Ilabllltle8 148,328 40,734 In¢om• fLtnd• Restrlcted lund8 Unre8lrfctèd funds 16 11991 40,933 148.f28 40,734 The cornpany r4 entrtled lo tho •xeM￿on from ihg aud￿ requir&ment contakned In So￿On 477 of the Cornpanle8 Act 2006, for th¢ year en(Jed 31 Mar¢h 2021. The tru8le•8 a¢knowWe Ihelr re8wll%"IitR8 for that thè tharity keepB ae¢ounlir¥J rtrcords whkh comply wllh $e¢tion 386 of the Act and lor prep8rir@ finanrAal statements vthlch 9fve a true and lalr view of the 8tale ol affair8 of the company ag at the end of the financial year and ol its ino)ming resour¢85 and apF4icalion of r¢wurc¢$, In¢ludSng it5 incorne aThJ expenditure, for the finarKial yeai in a¢eor¢Jan¢e with the requirements ol sections 394 and 395 and ￿lCh Othe￿iSe cOm￿Y with the reqLtii¢nwnts of tht compan￿ Act 2006 ielaling 10 finan¢i416tatèments, BO far a8 appllcable lo tho company. The member8 have not r4ulred the c¥)mpany to otrrtaln an gudit of h8 flnanclal 8tstement8 for tho year In question in accordance wlh $e¢tion 476. These financial 818lem•nts have teen ple￿ied kn aco)fd8n¢e ￿1th the ￿￿O¥1￿10r￿ applIc8￿e to companle 8u*'eGt lo the small ¢ompanw reglmo. loll Thè flnarKial stslemenls were approved by the Trustee8 on .............. . ........ Miss E Obianagha Trustee Company Reglstration No. 6972813 ## **SMALL GREEN SHOOTS** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2021**_ ## **1 Accounting policies** ## **Charity information** Small Green Shoots is a private company limited by guarantee incorporated in England and Wales. The registered office is 54 Chalton Street, London, NW1 1HS. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "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)". The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling , which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. ## **1.4 Income** Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts . - 10 - ## **SMALL GREEN SHOOTS** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_ ## **1 Accounting policies** ## **(Continued)** ## **1.5 Expenditure** A liability is recognised when either a legal or constructive obligation is identified. Where VAT is irrecoverable, it is allocated to the same expenditure category as the expense to which it relates. Support costs are allocated on a consistent basis at an estimate of time spent on each activity. ## **1.6 Tangible fixed assets** Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Fixtures and fittings 25% straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year. ## **1.7 Impairment of fixed assets** At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) . ## **1.8 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## **1.9 Financial instruments** The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. - 11 - ## **SMALL GREEN SHOOTS** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_ ## **1 Accounting policies** ## **(Continued)** ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled. ## **1.10 Employee benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **1.11 Retirement benefits** Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. ## **2 Critical accounting estimates and judgements** In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. - 12 - ## **SMALL GREEN SHOOTS** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_ ## **3 Donations** |**Unrestricted**
**Restricted**
**funds**
**funds**
**2021**
**2021**
**£**
**£**
Donations and gifts
126,165
-
Grants receivable
169,019
184,503
Donated goods and
services
10,650
-
305,834
184,503|**Total**Unrestricted
Restricted
funds
funds
**2021**
2020
2020
**£**
£
£
126,165
8,157
-
353,522
141,644
58,665
10,650
-
-
490,337
149,801
58,665|Total
2020
£
8,157
200,309
-
208,466| |---|---|---| ## **Donations** Gifts in kind are received by the charity, these can include loan of equipment for performances and professional services. For the year ended 31 March 2019 there was no formal system in place to identify the value of such donations, this will be introduced during the year ending 31 March 2020. ## **Grants receivable for** |**core activities**
Arts Council England
City of London
Children In Need
Camden Giving
Comic Relief
Leather Sellers
Young Camden
Cripplegate Islington
Giving Youth Fund
PRS Foundation
London Youth
Other|122,208
-
-
750
32,000
-
-
4,080
3,500
3,000
3,481
169,019|24,777
62,458
15,710
22,564
56,394
-
2,600
-
-
-
-
184,503|146,985
62,458
15,710
23,314
88,394
-
2,600
4,080
3,500
3,000
3,481
353,522|130,000
-
-
-
-
-
-
-
-
-
11,644
141,644|-
-
9,820
-
46,845
2,000
-
-
-
-
-
58,665|130,000
-
9,820
-
46,845
2,000
-
-
-
-
11,644
200,309| |---|---|---|---|---|---|---| ## **4 Other trading activities** ||**Unrestricted**|Total| |---|---|---| ||**funds**|| ||**2021**|2020| ||**£**|£| |Advisory services|73,104|79,413| - 13 - ## **SMALL GREEN SHOOTS** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_ ## **5 Other income** ||**Unrestricted**|Total| |---|---|---| ||**funds**|| ||**2021**|2020| ||**£**|£| |Other income|32,194|9,258| |**Raising funds**||| ||**Unrestricted**|Unrestricted| ||**funds**|funds| ||**2021**|2020| ||**£**|£| |Fundraising and publicity||| |Other fundraising costs|23,234|7,209| ||23,234|7,209| ## **6 Raising funds** - 14 - ## **SMALL GREEN SHOOTS** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_ ## **7 Charitable activities** |Staff costs
Depreciation and impairment
Workshop expenses
Artist costs
Apprentices
Consultancy fees
Share of support costs (see note 8)
Share of governance costs (see note 8)
**Analysis by fund**
Unrestricted funds
Restricted funds|**2021**
**£**
90,691
3,592
24,347
77,223
88,584
45,179
329,616
123,775
11,416
464,807
370,309
94,498
464,807|**2020**
**£**
72,160
2,206
53,842
19,629
32,989
49,973
230,799
64,075
12,655
307,529
243,444
64,085
307,529| |---|---|---| - 15 - ## **SMALL GREEN SHOOTS** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_ ## **8 Support costs** |**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Office expenditure
42,550
-
Marketing and event
costs
33,902
-
Other costs
33,137
-
Professional Services
14,186
-
Evaluation
-
-
Other governance costs
-
10,312
Independent Examiners
fee
-
1,104
123,775
11,416
Analysed between
Charitable activities
123,775
11,416|**2021**
**£**
42,550
33,902
33,137
14,186
-
10,312
1,104
135,191
135,191|Support
costs
Governance
costs
£
£
18,513
-
20,800
-
17,470
-
3,861
-
3,431
-
-
11,461
-
1,194
64,075
12,655
64,075
12,655|2020
£
18,513
20,800
17,470
3,861
3,431
11,461
1,194
76,730
76,730| |---|---|---|---| ## **9 Trustees** None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. - 16 - ## **SMALL GREEN SHOOTS** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_ ## **10 Employees** ## **Number of employees** The average monthly number of employees during the year was: ||**2021**|**2020**| |---|---|---| ||**Number**|**Number**| |Administration|5|5| |Trainees|11|-| ||16|5| |**Employment costs**|**2021**|**2020**| ||**£**|**£**| |Wages and salaries|84,901|68,553| |Social security costs|2,806|2,030| |Other pension costs|2,984|1,577| ||90,691|72,160| The charity employed an average of 16 part time employees during the year which equates to 11 full time employees. There were no employees whose annual remuneration was £60,000 or more. ## **11 Taxation** The company is considered to meet the definition of a charitable company for UK corporation tax purposes and is therefore potentially exempt from taxation relating to income or capital gains received within Pt 11 Ch 3 Corporation Tax Act 2010 or s256 Taxation of Chargeable Gains Act 1992, to the extent that such income and gains are applied exclusively for charitable purposes. - 17 - ## **SMALL GREEN SHOOTS** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_ ## **12 Tangible fixed assets** |**Cost**
At 1 April 2020
Additions
At 31 March 2021
**Depreciation and impairment**
At 1 April 2020
Depreciation charged in the year
At 31 March 2021
**Carrying amount**
At 31 March 2021
At 31 March 2020
**13**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
Other debtors
Prepayments and accrued income
**14**
**Creditors: amounts falling due within one year**
**Notes**
Other taxation and social security
Deferred income
**15**
Trade creditors
Other creditors
Accruals and deferred income|**Fixtures and fittings**
**£**
16,109
5,545
21,654
9,756
3,593
13,349
8,305
6,354
**2021**
**2020**
**£**
**£**
19,295
10,440
96
-
524
370
19,915
10,810
**2021**
**2020**
**£**
**£**
2,898
-
16,500
-
14,912
14,015
841
-
5,194
9,613
40,345
23,628| |---|---| - 18 - ## **SMALL GREEN SHOOTS** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_ ## **15 Deferred income** ||**2021**|**2020**| |---|---|---| ||**£**|**£**| |Other deferred income|16,500|-| ## **16 Restricted funds** The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes: ||||**Movement in funds**|**Movement in funds**||**Movement in funds**|**Movement in funds**||| |---|---|---|---|---|---|---|---|---|---| ||**Balance at**||**Incoming**|**Resources**|**Balance at**|**Incoming**|**Resources**||**Balance at**| ||**1 April 2019**||**resources**|**expended**|**1 April 2020**|**resources**|**expended**|
**31**|**March 2021**| |||**£**|**£**|**£**|**£**|**£**|**£**||**£**| |City of|||||||||| |London||-|-|-|-|62,458|(39,975)||22,483| |Arts Council|||||||||| |England||-|-|-|-|24,777|(19,377)||5,400| |Comic Relief|3,921||46,845|(50,965)|(199)|56,394|(12,471)||43,724| |Leather|||||||||| |Sellers||-|2,000|(2,000)|-|-|-||-| |Children in|||||||||| |Need||-|9,820|(9,820)|-|15,710|(17,661)||(1,951)| |Argent re|||||||||| |HLF project|1,300||-|(1,300)|-|-|-||-| |Camden|||||||||| |Giving||-|-|-|-|22,564|(3,625)||18,939| |Young|||||||||| |Camden||-|-|-|-|2,600|(1,389)||1,211| ||5,221||58,665|(64,085)|(199)|184,503|(94,498)||89,806| ## City of London Funding from the London Community Response Fund to provide funding for training, employing a youth manager to support young people and the additional cost of homeworking. Some of this funding was carried forward with the agreement of the funder. ## Arts Council England Emergency funding provided to offset expenses in quarter 1 of 2020/21. ## Comic Relief "The Fundamentals" project, a 3 year program focussing on de-stigmatising mental health in young people through spoken word, poetry and song writing and partners with NHS Tavistock and Islington Arts & Media School. - 19 - ## **SMALL GREEN SHOOTS** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_ ## **16 Restricted funds** ## **(Continued)** ## Children in Need This grant was confirmed in March 2017 to fund creative workshops for 96 young women (e.g. Freedom Dreams Project with Young Mothers) the funding will be awarded over 3 years. ## Camden Giving This funding provides training, counselling and software for young shoots. ## Young Camden Funding for training, software and equipment for Shoots. ## **17 Analysis of net assets between funds** |**Unrestricted**
**Funds**
**Restricted**
**Funds**
**2021**
**2021**
**£**
**£**
Fund balances at 31
March 2021 are
represented by:
Tangible assets
8,211
94
Current assets/
(liabilities)
50,311
89,712
58,522
89,806|**Total**Unrestricted
Funds
Restricted
Funds
**2021**
2020
2020
**£**
£
£
8,305
6,213
141
140,023
34,720
(340)
148,328
40,933
(199)|Total
2020
£
6,354
34,380
40,734| |---|---|---| - 20 -