Docusign Envelope ID: 020C1F31-3B53-45B5-B7EE-999BAC97C33E 

**REGISTERED CHARITY NUMBER: 1163851 (England and Wales)** 

## **REPORT OF THE TRUSTEES AND** 

**FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** 

## **FOR** 

## **THE BAKED BEAN CHARITY** 

Chariot House Limited Chartered Accountants 44 Grand Parade Brighton East Sussex BN2 9QA 



Docusign Envelope ID: 020C1F31-3B53-45B5-B7EE-999BAC97C33E 

**THE BAKED BEAN CHARITY** 

## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** 

|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|8|
|**Report of the Independent Auditors**|9|to|12|
|**Statement of Financial Activities**||13||
|**Balance Sheet**||14||
|**Cash Flow Statement**||15||
|**Notes to the Cash Flow Statement**||16||
|**Notes to the Financial Statements**|17|to|26|





Docusign Envelope ID: 020C1F31-3B53-45B5-B7EE-999BAC97C33E 

## **THE BAKED BEAN CHARITY** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023** 

The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. 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). 

## **OBJECTIVES AND ACTIVITIES** 

The Baked Bean Charity key objective is 'the promotion of social inclusion for the public benefit among people with learning difficulties and disabilities, who are socially excluded or at risk of exclusion from society or parts of society, by providing them with tuition, educational projects and workshops such as theatre, drama and the arts to relieve the needs of those people and assist them to integrate into society'. 

This report will detail the main activities of the charity during this period, as well as a commentary on the financial position and governance. It will address the challenges that the charity has faced while acknowledging changes and improvements that have subsequently taken place. 

## **SIGNIFICANT ISSUES** 

## **Trustees** 

At the time of writing this report, all the trustees who were on the board during the year 2022/2023 have resigned. At the date of this report it is the new Board which is currently in place and responsible for the Charity which is providing a retrospective review of operations during that year. 

## **The Current trustees of The Baked Bean Charity as of March 2025 are:** 

Marina Russ - Chair of the Board Sue Hubbert - Secretary Tim Beard 

## **The trustees of The Baked Bean Charity during the period 2022/2023 were;** 

Jade Hardrade-Grosz - Chair of the Board (Resigned October 2024) Dee Mitchell - Secretary (Resigned December 2023) Robert Johnston - Deputy Chairperson (Resigned April 2024) Wayne McGregor (Resigned April 2024) 

## **Functions and Duties of The Baked Bean Charity Trustees** 

The trustees are responsible for overseeing the affairs of the charity, including overall governance of the financial affairs, governance and compliance as well as ensuring that reporting is representative and accurate. The constitution dictates that: 

The charity trustees shall manage the affairs of the CIO and may for that purpose exercise all the powers of the CIO. 

## **It is the duty of each charity trustee:** 

(a)  to exercise his or her powers and to perform his or her functions in his or her capacity as a trustee of the CIO in the way he or she decides in good faith would be most likely to further the purposes of the CIO; and 

(b)  to exercise, in the performance of those functions, such care and skill as is reasonable in the circumstances having regard in particular to: 

(i)  any special knowledge or experience that he or she has or holds himself or herself out as having; and, (ii)  if he or she acts as a charity trustee of the CIO in the course of a business or profession, to any special knowledge or experience that it is reasonable to expect of a person acting in the course of that kind of business or profession. 

## **Public benefit** 

All services provided by the Charity served to meet its objectives and the board is confident that the Charity complied during the year with the duty in section 17 (5)  of the Charities Act 2011 to have due regard to the Charity Commission's published guidance on public benefit. 

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Docusign Envelope ID: 020C1F31-3B53-45B5-B7EE-999BAC97C33E 

**THE BAKED BEAN CHARITY** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023** 

## **STRATEGIC REPORT Achievement and performance** 

## **Activities and Services** 

In May 2022, the Charity's services were divided into two departments when the Charity acquired the activities, staff and some of the assets of a company called Act Too Ltd, a company which was owned by a trustee and her husband who worked at the charity.  The new departments set up were the Education Department and the Creative Arts Department. Further details on the acquisition of the activities of Act Too Ltd are included below. 

## **The Education Department** 

## **1. Lifelong Learning** 

This project was funded by Wandsworth Lifelong Learning, with many of the students being spot purchased by the local authority. Classes at this time ran 5 days per week and had an educational focus for people with learning disabilities. Classes included art, healthy living and eating, out and about in the local community and computer literacy. Classes were attended by approximately 8-12 students daily. 

## **2. Alternative Education** 

This provision was primarily funded by local authorities and other charities, schools or organisations who outsourced work with young people who have been excluded, or are at risk of exclusion, from formal education. Our tutors worked 1:1 with young people on their goals as directed by their EHCP's either in their own home, at our office site or in local community spaces such as the local library. 

## **3. Intensive Support** 

This support was largely funded by local authorities, the Charity was commissioned to work with young people and their families with the purpose of keeping families together. The primary caregivers were allowed respite while the staff supported the young people for an allocated number of hours per week. There would additionally be some collaborative work between the parents and children to ensure a safe and happy environment. 

## **The Creative Arts Department** 

This department took over the activities of the company Act Too Ltd acquiring the services, staff and equipment of Act Too Ltd in May 2022.  The department works with people with learning disabilities and serves to help the Charity meet its objectives. 

## **1. Creative / Performing Arts Classes** 

Spaces for these classes are spot purchased by the local authority to meet individual Care Act eligible needs. The Charity runs between 5 and 6 creative classes every day to approximately 160 adult service users. Classes include performance based classes in Drama, Musical Theatre, Physical Theatre, Dance, DJing, Singing. Students work towards creating performances for the local community. We also run foundation level, non-performance classes in drama, movement, song and art. In reaction to the needs and wants of our service users, the charity created a basic cookery skills session and has developed into Boxing and Zumba. 

The department also delivers a performance based youth drama and dance provision that is funded by Wandsworth Short Breaks and supports approximately 15 young people during term time. 

## **2. Community Engagement** 

Using improvisation and verbatim theatre we create performances, workshops and films that educate, entertain, and inspire. We pride ourselves in devising and performing work that makes our service users' voices heard. 

We are regularly commissioned to work with universities, NHS trusts and local councils to deliver performances that shatter misconceptions, challenge stereotypes, and push the boundaries of society's view of learning disabilities. 

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Docusign Envelope ID: 020C1F31-3B53-45B5-B7EE-999BAC97C33E 

**THE BAKED BEAN CHARITY** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023** 

Performances are bespoke and can be tailored to the needs of the commissioner. Packages are purchased by organisations such an NHS, universities and local authorities to improve their staff or learners' understanding of how to work with people with learning disabilities. 

## **3. Social Opportunities** 

This department runs quarterly club nights for people with learning disabilities called Rise Up! These parties happen both in local pubs and in community halls to cater for a range of needs. 

During this financial year, the social opportunities were funded by a combination of ticket sales and money earned by our other activities. In 2024, The Charity was successful in obtaining a grant to cover the costs of this quarterly activity. 

## **4. Respite Holidays** 

This department offers between 6 and 8 respite holidays per year for service users, which promote independence and offer new and varied opportunities to our service users while promoting social inclusion in a wider community than we can normally reach in and around Wandsworth. Locations vary between UK holiday parks and houses and abroad trips to places like Disneyland Paris. Holidays are paid for by the individuals and are funded either privately or by utilising respite funding from local authorities. 

## **Key Successes During 2022/2023** 

Funding secured by The Creative Arts Department to launch weekly Zumba sessions, initially as a free provision to Baked Bean Charity students. 

The Creative Arts Department held 'Bean Street' - a street party event held on Battersea High Street in June 2022 as part of the Wandsworth Arts Fringe Festival, which won the Audience Choice Award. Funding secured again for summer 2023. 

The Creative Arts Department's Community Engagement outreach project (Beans in Education) provided 184 paid acting roles for our students in 2022, working with 28 partner organisations (10 new for 2022) 

## **Challenges and Major Events** 

## **Acquisition of Performing Arts Services from Act Too Ltd** 

In May 2022, The Baked Bean Charity acquired the assets, staff and services of Act Too Ltd at a cost of £10,200 for the Goodwill valuation plus £2,510 for fixed assets.  The company was owned by one of the trustees and her husband who was employed at the charity and were both directors of the company. 

The board of trustees believed at that time that transferring the Performing Arts Services from a private company to the charitable organisation would allow access to new funding streams to grow and develop the services on offer. 

This has proved to be the case and has enabled us to run a regular drama class in a local theatre space (Battersea Arts Centre) and secure funding to launch a fitness group at 12 Rounds Boxing Gym as well as a weekly Zumba class. 

## **FUNDRAISING** 

The Baked Bean Charity are signed up to the Fundraising Regulator's voluntary registration scheme and consider themselves fully compliant with the guidelines as set out. Any new initiatives are signed off through the Head of The Baked Bean Charity and Trustee board before commencing, and success is measured through explicit KPls (both financial and operational) as set out in our fundraising strategy. 

During the financial year, no associated complaints were received, and due to our main method of fundraising being through the running of events and the sale of items through an online store, we are confident that no one will have felt under any undue pressure to support us. 

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Docusign Envelope ID: 020C1F31-3B53-45B5-B7EE-999BAC97C33E 

## **THE BAKED BEAN CHARITY** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023** 

## **STRATEGIC REPORT FINANCIAL POSITION AND CHALLENGES** 

During the year ending 31 March 2023 the charity received income amounting to £1,621,080 (2022: £652,852). Resources were expended of £1,789,744  (2022: £691,701) resulting in a deficit for the year of £(168,664)  (2022: deficit of £38,849). The year end cash position stood at £61,628 (2022: £80,418) 

## **Bad Debts** 

In 2023, the Education Department began to encounter some financial challenges as the department continued to experience a sizeable increase in new referrals from local authorities and schools.  However due to the urgent nature of the support being requested, there were instances where the support was put in place without a proper funding stream being secured. The funding never materialised for a significant number of these new referrals which resulted in a large amount of invoices being irrecoverable.  A significant amount of bad debts have been written off at the earliest date i.e in the year to 31 March 2023 and is the main cause for the deficit incurred in this year. 

Despite improvements to the referral process, the issues with bad debts continued into 2023/24 and, combined with the loss of funding for the Lifelong Learning project (June 2023) and recruitment / staff retention difficulties, eventually led to the closure of the Education department in December 2023. 

## **Deficit in Unrestricted vs Restricted Funds** 

It has become clear that the overall deficit in 2023, which has only now been identified, meant that some restricted funds were used to cover general expenditure for a short time.   However this did not affect the overall delivery of the individual projects and the restricted funds were later replaced from general reserves and used to fulfil the original purpose of the funds. 

## **High level of both debtors and liabilities** 

The funding issues and bad debts highlighted above have left the charity with a total of £163,733 owed to charity by its debtors (£108,868 in 2022) at the end of the year, which in turn has impacted cash flow and resulted in a total of £274,001 owed to creditors within the next year (£54,386 in 2022) 

## **3. Increased support needs** 

A long-term effect of the Covid-19 pandemic and resulting periods of lock-down is that we are seeing an increase in the number of students with more complex needs, both within our current student cohort and from new referrals. 

## **4. Wage increases** 

In keeping with other organisations in the social care sector, we struggle to be able to pay all members of our staff team at much above the national living wage, and with the increases in minimum wage levels increasing by more than the local authorities are able to increase our funding levels in recent years, this is becoming more and more of a challenge. It continues to be an aim of the Baked Bean Charity to become a Real Living Wage employer. 

## **5. Leadership changes in the Education Department** 

The Executive Director began to oversee the Education Department as well as the Performing Arts Department.  It was hoped that this transition would streamline the leadership and allow the Business Development Manager to gain many new contracts for the charity in order for it to flourish. 

## **6. External Audit requirement** 

The acquisition of the Performing Arts services from Act Too Ltd increased the annual turnover to above the threshold for an external audit for the first time. The audit process has highlighted some issues, including a conflict on the board, which has taken approximately 18 months to resolve to the point of completing the audit. 

## **Transport** 

The transport service is offered at a heavily subsidised rate, financed by the charity's other activities. During the 2022-23 financial year, we charged a £10 contribution per day for students to access this service, which increased to £11 per day in January 2024. 

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Docusign Envelope ID: 020C1F31-3B53-45B5-B7EE-999BAC97C33E 

## **THE BAKED BEAN CHARITY** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023** 

In 2025, we are working with local authorities toward this service being properly funded for those that need this level of support, or finding alternative options for those who need a lower level of support. The cost of the service should be £35 - £40 per day depending on home borough. This is an ongoing priority for the charity as the transport service is a vital service for some members to attend the provision but it is currently operating at a deficit. 

## **Reserves policy** 

In accordance with Charity Commission guidelines the trustees consider that the charity should hold reserves to meet approximately 6 months expenditure. The total reserves of the company as at 31 March 2023 are a deficit of £(14,716) of which £15,665 is held in fixed assets. The trustees accept that the Reserves do not meet the requirements and are actively working to correct the position - see comments on financial challenges. 

## **Going concern** 

Whilst the 2022/23 financial year has not been without its challenges operationally and financially, it proved far easier to plan for and navigate than the previous two years, which were heavily affected by uncertainty caused by the Covid-19 pandemic.  Despite the deficit incurred in 2023 and the deficit of funds on the balance sheet, the charity has continued to manage its cashflow and meet its obligations in full  - see comments in both the financial challenges and in Improvements and reflections on the management of bad debts and payroll liabilities.  On the basis of the actions taken the Trustees are of the opinion that the charity remains a going concern and have considered a period of at least 12 months from the date of signing of the accounts. 

## **Funds in deficit** 

Although the balance sheet at 31 March 2023 was in deficit, this was partly the result of recognising at the earliest possible date a significant level of bad debt which was identified as non recoverable, and the high level of payroll liabilities which had accumulated due to the sudden increase in staffing levels.    The charity, however, had sufficient cashflow to continue in operation and agree an arrangement with HMRC to settle the liabilities over an extended period of time. 

## **RISK MANAGEMENT** 

## **Principal risks and uncertainties** 

The trustees actively review the major risks which the charity faces on a regular basis. The charity has now developed systems to monitor and control these risks and to manage any impact they may have on the charity's future.  The charity now has in place systems of internal control to provide reasonable, but not absolute, assurance against material misstatement or loss. They include: 

A strategic plan and an annual budget approved by the trustees; Monthly management accounts which show variance from budget and re-forecast anticipated results for the year, which are reviewed by the trustees; 

Delegation of authority and segregation of duties; and Strategies to address any loss of funding, non-performance against targets or fraud. 

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Docusign Envelope ID: 020C1F31-3B53-45B5-B7EE-999BAC97C33E 

## **THE BAKED BEAN CHARITY** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023** 

## **STRATEGIC REPORT Improvements and Reflections** 

Following the acquisition of the activities of Act Too Limited, it became apparent that there was a serious conflict of interest which had arisen at Board level with the Executive Director also acting as Chair of the Board. This issue has since been addressed and improvements have been made to the structure and governance of the organisation. 

New Board members were recruited in 2024, the previous Chair of the Board who acted as Chief Executive Officer resigned, and following the resignation also of the previous Executive Director in October 2024, a new Chief Executive Officer (CEO) replacing both roles, was recruited and officially appointed in February 2025. 

The salary for this new position has been reduced by £34k to come in to line with comparable market rates and to ensure affordability. The initial objectives for this role include reviewing the organisational structure and the position was secured by an internal candidate.   The previous position of Executive Director will not be filled, saving a further £42k per year while ensuring efficiency through the structure. 

The current trustees recognise the challenges that the Charity faced in 2022/2023. Since that year, improvements have been made to the Charity's financial controls policy and approval process to ensure that no service is provided before a purchase order, or other written confirmation, is provided for a new referral. This has helped to improve the bad debt issue and the Charity's debtors level has reduced significantly. 

The Charity has also addressed the late payment of PAYE which arose in 2023 and now has agreements in place with our creditors to repay all amounts owed by the charity over a manageable time period. As at the time of this report (February 2025) the total balance owed is £183k (£274k at end of March 2023) and the final repayment is due in February 2026. The board continues to monitor and confirm the affordability of the repayments, while keeping up with other regular payments, by the preparation of Financial Projections which are continually updated and cover a minimum of a rolling one year in the future. 

The current trustees have reflected on the fact that the Charity had some significant challenges in 2022/2023, but that the improvements discussed in the above report that have been made to the systems and processes have substantially rectified the issues. The Board have implemented weekly financial reports to ensure that the Charity continues to be solvent and successful and that they remain fully abreast of the financial position. 

This will allow the trustees to immediately identify if any improvements need to be made and to predict future areas of challenge. These regular reports, together with the Financial Projections, ensure that the Charity remains solvent and has a financially stable future. Although there were difficulties in 2022/2023, The Baked Bean Charity has seen through the difficulties and is currently operating successfully in 2025. 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** 

The charity  is constituted as a charitable incorporated organisation and is governed in accordance with its constitution as amended in May 2023. 

## **Recruitment and appointment of new trustees** 

The Board of trustees is responsible for appointing trustees who have to be nominated and elected at a Board meeting 

## **Organisational structure** 

The trustees decide the long term strategy for the charity; they set the budgets, review performance on a monthly basis utilising the resources of a Charity Management Accountant instigating change when required. The trustees have appointed a Head of the Charity, who runs the operations of the charity on behalf of the trustees. The Head of the Charity is assisted by a team of staff dedicated to running the day to day operations of The Baked Bean Charity. The trustees take advice and consider similar organisations when deciding the level of senior management pay. 

## **Induction and training of new trustees** 

The trustees have in place procedures for the induction and training of trustees when required. 

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Docusign Envelope ID: 020C1F31-3B53-45B5-B7EE-999BAC97C33E 

**THE BAKED BEAN CHARITY** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023** 

## **REFERENCE AND ADMINISTRATIVE DETAILS** 

## **Registered Charity number** 

1163851 

## **Registered office** 

## **Trustees** 

M Russ (appointed 8/4/2024) Dr T Beard (appointed 30/10/2024) S Hubbert (appointed 8/4/2024) D Mitchell (resigned 1/12/2023) J Hardrade-Grosz (resigned 1/10/2024) R Johnston (resigned 1/4/2024) W McGregor (resigned 1/4/2024) 

## **Auditors** 

Chariot House Limited Chartered Accountants 44 Grand Parade Brighton East Sussex BN2 9QA 

## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** 

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charity SORP; 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. 

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008 as well as the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

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Docusign Envelope ID: 020C1F31-3B53-45B5-B7EE-999BAC97C33E 

## **THE BAKED BEAN CHARITY** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023** 

## **STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued** 

In so far as the trustees are aware: 

- there is no relevant audit information of which the charity's auditors are unaware; and 

- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. 

## **AUDITORS** 

The auditors,  Chariot House Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. 

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees on 31 March 2025 ............................................. and signed on the board's behalf by: 


........................................................................ M Russ - Trustee 

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Docusign Envelope ID: 020C1F31-3B53-45B5-B7EE-999BAC97C33E 

## **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE BAKED BEAN CHARITY** 

## **Opinion** 

We have audited the financial statements of The Baked Bean Charity (the 'charitable company') for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

- In our opinion the financial statements: 

- give a true and fair view of the state of the charity's affairs as at 31 March 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Charities Act 2011. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report.  We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.  We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

Despite the significant deficit for 2023, and a balance sheet that is in deficit at the end of that year, we would draw your attention to the comments in the trustee report in the section on "improvements and reflections" which comments on the progress made in 2024 and 2025 towards returning the charity to a solid financial basis.  The charity has successfully managed its cashflow through 2024 and 2025 and continues to make the payments required to meet its PAYE liabilities and to collect monies owed to it. 

However, the charity incurred a further deficit in 2024, and despite the successful outcome in 2025 the charity continues to have to manage its financial situation to ensure that the balance sheet returns to a more positive position.  And on that basis there is still some significant uncertainty particularly in the current economic environment. 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 

## **Other information** 

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. 

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.  We have nothing to report in this regard. 

## **Matters on which we are required to report by exception** 

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: 

- the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or 

- the charity has not kept adequate accounting records; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- we have not received all the information and explanations we require for our audit. 

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Docusign Envelope ID: 020C1F31-3B53-45B5-B7EE-999BAC97C33E 

## **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE BAKED BEAN CHARITY** 

## **Responsibilities of trustees** 

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. 

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Docusign Envelope ID: 020C1F31-3B53-45B5-B7EE-999BAC97C33E 

## **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE BAKED BEAN CHARITY** 

## **Our responsibilities for the audit of the financial statements** 

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion.  Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

Based on our understanding of the charity and its activities, and through discussion with the trustees and management, we identified the principal risks of material misstatement both at the financial statement level and at the assertion level. 

We considered these risks in the light of various factors including the level of complexity, subjectivity, uncertainty, potential management bias, fraud, materiality and any other relevant factors.     We considered the extent to which these would have a material impact on the financial statements and designed our audit work accordingly.  In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following: 

- We obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on those laws and regulations that had a material effect on the financial statements or that had a fundamental effect on the operations of the charity from our professional and sector experience. 

- We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud, and reviewed significant or unusual transactions to identify their underlying supporting rationale 

- We inspected the minutes of meetings of those charged with governance, and made direct enquiries of management and the board of trustees concerning the charity's policies and procedures relating to: 

   - Identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance; 

   - Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected, or alleged fraud; 

   - The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations. 

In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates were indicative of a potential bias and tested significant transactions that were unusual or those outside the normal course of business. 

We also 

- discussed and reviewed the charity's business model and forward planning to assess going concern 

- communicated applicable laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit. 

- reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations. 

- carried out substantive testing on income and expenditure 

- re-performed reconciliations of control accounts, and recalculated items such as depreciation 

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. 

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Docusign Envelope ID: 020C1F31-3B53-45B5-B7EE-999BAC97C33E 

## **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE BAKED BEAN CHARITY** 

This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. 

## **Use of our report** 

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. 

## Chariot House Limited 

Chariot House Limited Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 Chartered Accountants 44 Grand Parade Brighton East Sussex BN2 9QA 31 March 2025 Date: ............................................. 

Page 12 



Docusign Envelope ID: 020C1F31-3B53-45B5-B7EE-999BAC97C33E 

## **THE BAKED BEAN CHARITY** 

## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023** 

|Notes<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>2<br>**Charitable activities**<br>4<br>Lifeworks<br>Intensive Support<br>Performing Arts<br>Investment income<br>3<br>**Total**<br>**EXPENDITURE ON**<br>Raising funds<br>5<br>**Charitable activities**<br>6<br>Lifeworks<br>Intensive Support<br>General charitable<br>Performing Arts<br>**Total**<br>**NET INCOME/(EXPENDITURE)**<br>**Transfers between funds**<br>17<br>**Net movement in funds**<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>**TOTAL FUNDS CARRIED FORWARD**|Unrestricted<br>fund<br>£<br>45,733<br>20,725<br>580,439<br>947,659<br>28<br>1,594,584<br>6,560<br>53,088<br>511,941<br>-<br>1,211,561<br>1,783,150<br>(188,566)<br>(677)<br>(189,243)<br>153,948<br>(35,295)|Restricted<br>funds<br>£<br>26,496<br>-<br>-<br>-<br>-<br>26,496<br>-<br>-<br>-<br>6,594<br>-<br>6,594<br>19,902<br>677<br>20,579<br>-<br>20,579|2023<br>Total<br>funds<br>£<br>72,229<br>20,725<br>580,439<br>947,659<br>28<br>1,621,080<br>6,560<br>53,088<br>511,941<br>6,594<br>1,211,561<br>1,789,744<br>(168,664)<br>-<br>(168,664)<br>153,948<br>(14,716)|2022<br>Total<br>funds<br>£<br>25,199<br>627,653<br>-<br>-<br>-<br>652,852<br>15,000<br>676,701<br>-<br>-<br>-<br>691,701<br>(38,849)<br>-<br>(38,849)<br>192,797<br>153,948|
|---|---|---|---|---|



The notes form part of these financial statements 

Page 13 



Docusign Envelope ID: 020C1F31-3B53-45B5-B7EE-999BAC97C33E 

## **THE BAKED BEAN CHARITY** 

## **BALANCE SHEET 31 MARCH 2023** 

|Unrestricted<br>fund<br>Notes<br>£<br>**FIXED ASSETS**<br>Intangible assets<br>13<br>9,180<br>Tangible assets<br>14<br>6,485<br>15,665<br>**CURRENT ASSETS**<br>Debtors<br>15<br>181,992<br>Prepayments and accrued income<br>-<br>Cash at bank and in hand<br>40,372<br>222,364<br>**CREDITORS**<br>Amounts falling due within one year<br>16<br>(273,324)<br>**NET CURRENT ASSETS/(LIABILITIES)**<br>(50,960)<br>**TOTAL ASSETS LESS CURRENT**<br>**LIABILITIES**<br>(35,295)<br>**NET ASSETS**<br>(35,295)<br>**FUNDS**<br>17<br>Unrestricted funds<br>Restricted funds<br>**TOTAL FUNDS**|Restricted<br>funds<br>£<br>-<br>-<br>-<br>-<br>-<br>20,579<br>20,579<br>-<br>20,579<br>20,579<br>20,579|2023<br>Total<br>funds<br>£<br>9,180<br>6,485<br>15,665<br>181,992<br>-<br>60,951<br>242,943<br>(273,324)<br>(30,381)<br>(14,716)<br>(14,716)<br>(35,295)<br>20,579<br>(14,716)|2022<br>Total<br>funds<br>£<br>-<br>3,795<br>3,795<br>123,868<br>253<br>80,418<br>204,539<br>(54,386)<br>150,153<br>153,948<br>153,948<br>153,948<br>-<br>153,948|
|---|---|---|---|



The financial statements were approved by the Board of Trustees and authorised for issue on 31 March 2025 ............................................. and were signed on its behalf by: 


............................................. M Russ - Trustee 

The notes form part of these financial statements 

Page 14 



Docusign Envelope ID: 020C1F31-3B53-45B5-B7EE-999BAC97C33E 

## **THE BAKED BEAN CHARITY** 

## **CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2023** 

|Notes<br>**Cash flows from operating activities**<br>Cash generated from operations<br>1<br>Net cash used in operating activities<br>**Cash flows from investing activities**<br>Purchase of intangible fixed assets<br>Purchase of tangible fixed assets<br>Interest received<br>Net cash used in investing activities<br>**Change in cash and cash equivalents in**<br>**the reporting period**<br>**Cash and cash equivalents at the**<br>**beginning of the reporting period**<br>**Cash and cash equivalents at the end of**<br>**the reporting period**|2023<br>£<br>(4,659)<br>(4,659)<br>(10,200)<br>(4,636)<br>28<br>(14,808)<br>(19,467)<br>80,418<br>60,951|2022<br>£<br>(29,178)<br>(29,178)<br>-<br>(1,585)<br>-<br>(1,585)<br>(30,763)<br>111,181<br>80,418|
|---|---|---|



The notes form part of these financial statements 

Page 15 



Docusign Envelope ID: 020C1F31-3B53-45B5-B7EE-999BAC97C33E 

## **THE BAKED BEAN CHARITY** 

## **NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2023** 

## **1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES** 

|**Net expenditure for the reporting period (as per the Statement of**<br>**Financial Activities)**<br>**Adjustments for:**<br>Depreciation charges<br>Interest received<br>Increase in debtors<br>Increase in creditors<br>**Net cash used in operations**|2023<br>£<br>(168,664)<br>2,966<br>(28)<br>(57,871)<br>218,938<br>(4,659)|2022<br>£<br>(38,849)<br>3,735<br>-<br>(33,612)<br>39,548<br>(29,178)|
|---|---|---|



**2. ANALYSIS OF CHANGES IN NET FUNDS** 

|At 1/4/22<br>Cash flow<br>At<br>£<br>£<br>**Net cash**<br>Cash at bank and in hand<br>80,418<br>(19,467)<br>80,418<br>(19,467)<br>**Total**<br>80,418<br>(19,467)|31/3/23<br>£<br>60,951<br>60,951<br>60,951|
|---|---|



The notes form part of these financial statements 

Page 16 



Docusign Envelope ID: 020C1F31-3B53-45B5-B7EE-999BAC97C33E 

**THE BAKED BEAN CHARITY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** 

## **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. 

The financial statements are prepared in sterling, which is the functional currency of the charity.  Monetary amounts in these financial statements are rounded to the nearest pound. 

The financial statements have been prepared under the historical cost convention.  The principal accounting polices are set out below. 

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a  'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. 

## **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, and on that basis the trustees consider the charity to be a going concern. 

## **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.  The following accounting policies are applied to various income sources; 

## **Income from charitable activities** 

Income from charitable activities represents income from the delivery of the charity's core projects.  The income is accounted for on a receivable basis with income from service level agreements recognised in line with performance. 

## **Donations** 

Donations consist of income from corporate entities, individuals and those dedicating volunteer events to support the charity.  Where services are provided at no cost, the value of those services are treated as a donation in kind with the respective cost charged to expenditure where the value can be quantified. 

## **Legacies** 

Legacies are accounted for on notification by the personal representative and the value of that legacy can be measured reliably and receipt of the amount is probable. 

## **Investment income** 

Interest on funds held on deposit is included when receivable, the amount can be measured reliably and this is normally upon notification of the interest payable by the bank. 

## **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. 

continued... 

Page 17 



Docusign Envelope ID: 020C1F31-3B53-45B5-B7EE-999BAC97C33E 

## **THE BAKED BEAN CHARITY** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** 

## **1. ACCOUNTING POLICIES - continued** 

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs 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.  Irrecoverable vat is included in the costs where it is incurred 

## **Raising funds** 

Fundraising income represents the monies received from supports of the charities fundraising events and are accounted for when received. 

## **Goodwill** 

Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of ten years. 

## **Tangible fixed assets** 

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

- Plant and machinery 25% on reducing balance Computer equipment - 33% on cost 

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.  Only items valued at over £500 are capitalised. 

## **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). 

## **Taxation** 

The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK Corporation Tax purposes.  Accordingly the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. 

## **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 as specified by the donors.  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. 

## **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. 

continued... 

Page 18 



Docusign Envelope ID: 020C1F31-3B53-45B5-B7EE-999BAC97C33E 

**THE BAKED BEAN CHARITY** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** 

## **1. ACCOUNTING POLICIES - continued** 

## **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. 

## **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 payments 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. 

## **Cash and cash equivalents** 

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short term liquid investments with maturities of three months or less, and bank overdrafts.  Bank overdrafts are shown within borrowings in current liabilities. 

## **2. DONATIONS AND LEGACIES** 

|Donations<br>Grants|2023<br>£<br>2,489<br>69,740<br>72,229|2022<br>£<br>980<br>24,219|
|---|---|---|
|||25,199|



Grants received, included in the above, are as follows: 

|WBC - Arty Beans<br>Wimbledon foundation - SPC Forum<br>Wandsworth Arts Fringe Festival<br>BAME Research<br>WIASS Film<br>Wandsworth Community Learning<br>Wandsworth Aiming High Youth Theatre<br>Other grants|2023<br>£<br>7,500<br>9,996<br>2,000<br>1,000<br>6,000<br>21,727<br>19,800<br>1,717<br>69,740|2022<br>£<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>24,219|
|---|---|---|
|||24,219|



continued... 

Page 19 



Docusign Envelope ID: 020C1F31-3B53-45B5-B7EE-999BAC97C33E 

## **THE BAKED BEAN CHARITY** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** 

## **3. INVESTMENT INCOME** 

|**INVESTMENT INCOME**|||
|---|---|---|
||2023|2022|
||£|£|
|Deposit account interest|28|-|



## **4. INCOME FROM CHARITABLE ACTIVITIES** 

|Sundry receipts<br>Sales - Performing Arts<br>Class<br>Sales - Holidays<br>Sales - Transport<br>Sales - lectures/workshops<br>Sales - Other income<br>Sales - Intensive Support|Lifeworks<br>£<br>-<br>-<br>-<br>-<br>-<br>20,725<br>-<br>20,725|Intensive<br>Support<br>£<br>-<br>-<br>-<br>-<br>-<br>-<br>580,439<br>580,439|Performing<br>Arts<br>£<br>-<br>874,243<br>18,180<br>30,335<br>17,795<br>7,106<br>-<br>947,659|2023<br>Total<br>activities<br>£<br>-<br>874,243<br>18,180<br>30,335<br>17,795<br>27,831<br>580,439<br>1,548,823|2022<br>Total<br>activities<br>£<br>5<br>627,648<br>-<br>-<br>-<br>-<br>-|
|---|---|---|---|---|---|
||||||627,653|



## **5. RAISING FUNDS** 

## **Raising donations and legacies** 

|Sundries|2023<br>£<br>6,560|2022<br>£<br>15,000|
|---|---|---|



## **6. CHARITABLE ACTIVITIES COSTS** 

|**CHARITABLE ACTIVITIES COSTS**||||
|---|---|---|---|
|Lifeworks<br>Intensive Support<br>General charitable<br>Performing Arts|Direct<br>Costs (see<br>note 7)<br>£<br>53,088<br>511,941<br>6,594<br>1,183,408<br>1,755,031|Support<br>costs (see<br>note 8)<br>£<br>-<br>-<br>-<br>28,153<br>28,153|Totals<br>£<br>53,088<br>511,941<br>6,594<br>1,211,561|
||||1,783,184|



continued... 

Page 20 



Docusign Envelope ID: 020C1F31-3B53-45B5-B7EE-999BAC97C33E 

## **THE BAKED BEAN CHARITY** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** 

## **7. DIRECT COSTS OF CHARITABLE ACTIVITIES** 

|Staff costs<br>Venue and workshop rents<br>Field Trips<br>Education courses<br>Subcontractors/self employed<br>Holiday costs<br>Production costs and resources<br>Rent<br>Office utilities<br>Insurance<br>Post and stationery<br>Printing<br>Refreshments<br>Phones and mobiles<br>Cleaning and toiletries<br>Repairs and maintenance<br>Travel and subsistence<br>Training costs<br>Vehicle costs<br>Entertainment<br>Advertising & promotions<br>Software, IT, computer<br>Miscellaneous<br>Bank charges<br>Legal and Professional<br>Vehicle hire/leasing<br>Provision for credit notes<br>Depreciation|2023<br>£<br>1,286,979<br>150,187<br>9,482<br>5,404<br>9,226<br>20,700<br>20,523<br>25,112<br>19,772<br>9,392<br>2,929<br>5,389<br>6,034<br>6,146<br>1,987<br>154<br>20,760<br>5,963<br>19,411<br>4,339<br>3,750<br>11,343<br>3,457<br>406<br>19,456<br>33,415<br>50,349<br>2,966<br>1,755,031|2022<br>£<br>489,610<br>-<br>-<br>-<br>27,476<br>5,452<br>29,186<br>42,920<br>19,360<br>5,957<br>1,824<br>-<br>5,750<br>1,317<br>90<br>6,140<br>5,130<br>7,546<br>1,616<br>1,716<br>3,974<br>8,666<br>1,522<br>-<br>-<br>-<br>-<br>-<br>665,252|
|---|---|---|



## **8. SUPPORT COSTS** 

|**SUPPORT COSTS**||
|---|---|
||Governance|
||costs|
||£|
|Performing Arts|28,153|



continued... 

Page 21 



Docusign Envelope ID: 020C1F31-3B53-45B5-B7EE-999BAC97C33E 

## **THE BAKED BEAN CHARITY** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** 

## **9. NET INCOME/(EXPENDITURE)** 

Net income/(expenditure) is stated after charging/(crediting): 

||2023|2022|
|---|---|---|
||£|£|
|Auditors' remuneration|8,000|-|
|Depreciation - owned assets|1,946|3,735|
|Goodwill amortisation|1,020|-|



## **10. TRUSTEES' REMUNERATION AND BENEFITS** 

In the year ended 31 March 2023, one trustee was remunerated as chief executive officer with employee benefits including employers national insurance and pension contributions of £142,939 

The spouse of the chief executive officer was also employed by the charity with employee benefits of £58,570 including employers pension and national insurance contributions. 

## **Trustees' expenses** 

There were no  trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022. 

## **11. STAFF COSTS** 

## **Employment costs** 

||2023|2022|
|---|---|---|
||£|£|
|Wages and salaries|1,168,894|453,626|
|Social Security costs|101,862|29,605|
|Other pension costs|16,223|6,379|
||----------------|--------------|
||1,286,979|489,610|
||========|=======|



The total employee benefits for the key management personnel, who were the CEO and senior management, consisting of gross salaries, employes national insurance and pension contributions amounted to £300,523 (2022: £108,465) 

The average monthly number of employees during the year was as follows: 

|Direct<br>Administration<br>Part time coaches|2023<br>20<br>10<br>36<br>66|2022<br>-<br>5<br>24|
|---|---|---|
|||29|



continued... 

Page 22 



Docusign Envelope ID: 020C1F31-3B53-45B5-B7EE-999BAC97C33E 

## **THE BAKED BEAN CHARITY** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** 

## **11. STAFF COSTS - continued** 

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was: 

|£60,001 - £70,000<br>£100,000 - £110,000<br>£120,000 - £130,000<br>**12.**<br>**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**<br>Unrestricted<br>fund<br>£<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>25,199<br>**Charitable activities**<br>Lifeworks<br>627,653<br>**Total**<br>652,852<br>**EXPENDITURE ON**<br>Raising funds<br>15,000<br>**Charitable activities**<br>Lifeworks<br>676,701<br>**Total**<br>691,701<br>**NET INCOME/(EXPENDITURE)**<br>(38,849)<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>192,797<br>**TOTAL FUNDS CARRIED FORWARD**<br>153,948|2023<br>2<br>-<br>1<br>3<br>Restricted<br>funds<br>£<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-|2022<br>-<br>1<br>-<br>1<br>Total<br>funds<br>£<br>25,199<br>627,653<br>652,852<br>15,000<br>676,701<br>691,701<br>(38,849)<br>192,797<br>153,948|
|---|---|---|



continued... 

Page 23 



Docusign Envelope ID: 020C1F31-3B53-45B5-B7EE-999BAC97C33E 

## **THE BAKED BEAN CHARITY** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** 

## **13. INTANGIBLE FIXED ASSETS** 

|**INTANGIBLE FIXED ASSETS**||
|---|---|
||Goodwill|
||£|
|**COST**||
|Additions|10,200|
|**AMORTISATION**||
|Charge for year|1,020|
|**NET BOOK VALUE**||
|At 31 March 2023|9,180|
|At 31 March 2022|-|



## **14. TANGIBLE FIXED ASSETS** 

|Plant and<br>machinery<br>£<br>**COST**<br>At 1 April 2022<br>7,668<br>Additions<br>2,662<br>At 31 March 2023<br>10,330<br>**DEPRECIATION**<br>At 1 April 2022<br>3,873<br>Charge for year<br>1,547<br>At 31 March 2023<br>5,420<br>**NET BOOK VALUE**<br>At 31 March 2023<br>4,910<br>At 31 March 2022<br>3,795<br>**15.**<br>**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Trade debtors<br>Other debtors<br>Prepayments|Plant and<br>machinery<br>£<br>**COST**<br>At 1 April 2022<br>7,668<br>Additions<br>2,662<br>At 31 March 2023<br>10,330<br>**DEPRECIATION**<br>At 1 April 2022<br>3,873<br>Charge for year<br>1,547<br>At 31 March 2023<br>5,420<br>**NET BOOK VALUE**<br>At 31 March 2023<br>4,910<br>At 31 March 2022<br>3,795<br>**15.**<br>**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Trade debtors<br>Other debtors<br>Prepayments|Computer<br>equipment<br>£<br>7,876<br>1,974<br>9,850<br>7,876<br>399<br>8,275<br>1,575|Totals<br>£<br>15,544<br>4,636<br>20,180<br>11,749<br>1,946<br>13,695<br>6,485<br>3,795<br>2022<br>£<br>108,868<br>15,000<br>-<br>123,868|
|---|---|---|---|
||3,795<br>|-<br>2023<br>£<br>163,733<br>-<br>18,259<br>181,992||



continued... 

Page 24 



Docusign Envelope ID: 020C1F31-3B53-45B5-B7EE-999BAC97C33E 

## **THE BAKED BEAN CHARITY** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** 

## **16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** 

|Trade creditors<br>Social security and other taxes<br>Other creditors<br>Accruals and deferred income<br>Accrued expenses|2023<br>£<br>15,222<br>141,706<br>2,670<br>96,600<br>17,126<br>273,324|2022<br>£<br>3,940<br>10,696<br>37,848<br>-<br>1,902<br>54,386|
|---|---|---|



## **17. MOVEMENT IN FUNDS** 

|**Unrestricted funds**<br>General fund<br>**Restricted funds**<br>WBC  - Arty Beans<br>Wimbledon Foundation  SPC Forum<br>Wandsworth Arts Fringe Festival<br>WIASS Film<br>**TOTAL FUNDS**<br>Net movement in funds, included in the above are<br>**Unrestricted funds**<br>General fund<br>**Restricted funds**<br>WBC  - Arty Beans<br>Wimbledon Foundation  SPC Forum<br>Wandsworth Arts Fringe Festival<br>BAME Research<br>WIASS Film<br>**TOTAL FUNDS**|At 1/4/22<br>£<br>153,948<br>-<br>-<br>-<br>-<br>-<br>153,948<br>as follows:|Net<br>movement<br>in funds<br>£<br>(188,566)<br>6,930<br>8,349<br>(677)<br>5,300<br>19,902<br>(168,664)<br>Incoming<br>resources<br>£<br>1,594,584<br>7,500<br>9,996<br>2,000<br>1,000<br>6,000<br>26,496<br>1,621,080|Transfers<br>between<br>funds<br>£<br>(677)<br>-<br>-<br>677<br>-<br>677<br>-<br>Resources<br>expended<br>£<br>(1,783,150)<br>(570)<br>(1,647)<br>(2,677)<br>(1,000)<br>(700)<br>(6,594)<br>(1,789,744)|At<br>31/3/23<br>£<br>(35,295)<br>6,930<br>8,349<br>-<br>5,300<br>20,579<br>(14,716)<br>Movement<br>in funds<br>£<br>(188,566)<br>6,930<br>8,349<br>(677)<br>-<br>5,300<br>19,902<br>(168,664)|
|---|---|---|---|---|



continued... 

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Docusign Envelope ID: 020C1F31-3B53-45B5-B7EE-999BAC97C33E 

## **THE BAKED BEAN CHARITY** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** 

## **17. MOVEMENT IN FUNDS - continued** 

**Comparatives for movement in funds** 

|**Unrestricted funds**<br>General fund<br>**TOTAL FUNDS**|At 1/4/21<br>£<br>192,797<br>192,797|Net<br>movement<br>in funds<br>£<br>(38,849)<br>(38,849)|At<br>31/3/22<br>£<br>153,948|
|---|---|---|---|
||||153,948|



Comparative net movement in funds, included in the above are as follows: 

|**Unrestricted funds**<br>General fund<br>**TOTAL FUNDS**|Incoming<br>resources<br>£<br>652,852<br>652,852|Resources<br>Movement<br>expended<br>in funds<br>£<br>£<br>(691,701)<br>(38,849)<br>(691,701)<br>(38,849)|
|---|---|---|



## **18. RELATED PARTY DISCLOSURES** 

During the year the charity acquired the trade and some of the assets of a company "Act Too Ltd" which was about to be liquidated as insolvent, and of which a trustee and CEO of the charity, was a director. 

The charity acquired assets valued at £2,510 and paid £10,200 for the goodwill as well as taking on the staff of Act Too under a TUPE agreement. 

For trustees benefits and remuneration see note on trustees transactions. 

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