# Annual Report and Accounts Year Ending 30 June 2021
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APRIL 2021
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**FAB CROYDON - TRUSTEES ANNUAL ACCOUNTS AND ACCOUNTS - YEAR ENDED 30 JUNE 2021**
|**CONTENTS**
**PAGE**|
|---|
|LEGAL AND ADMINISTRATIVE INFORMATION ............................................................................... 3|
|ORGANISATION OF THE CHARITY .................................................................................................. 4|
|OBJECTIVES AND ACTIVITIES OF THE CHARITY .............................................................................. 4|
|FINANCIAL AND BUSINESS REVIEW ............................................................................................... 5|
|FINANCIAL STATEMENTS ............................................................................................................... 6|
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**FAB CROYDON - TRUSTEES ANNUAL ACCOUNTS AND ACCOUNTS - YEAR ENDED 30 JUNE 2021**
## Legal and Administrative Information
**Charity Name** FAB Croydon **Charity Number** 1167546 **Registered Office and Operational Address** 34 Blenheim Park Road Croydon CR2 6BD **Trustees** The Trustees who served during the period were: Ms Kate Vennell (Chair) Mrs Fiona Satiro Ms Tanya Joseph **Bankers** Metro Bank Centrale Shopping Centre, Unit 1-2 North End Croydon CR0 1TY
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**FAB CROYDON - TRUSTEES ANNUAL ACCOUNTS AND ACCOUNTS - YEAR ENDED 30 JUNE 2021**
## Organisation of the Charity
## _**GOVERNANCE**_
FAB Croydon is a registered charity and charitable incorporated organisation. It is governed by its Constitution (as dated 3 June 2016 and amended 4 April 2017).
The Trustees have referred to the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning its future activities.
The Trustees meet regularly to review the activity and the strategic direction of the charity. FAB Croydon operates within a business plan, which is agreed by the Board, prior to the start of each financial year. Activities are run by contracted specialist personnel, as required for specific projects and who work under the supervision of trustees. Projects are also supported by volunteers and partner organisations.
## _**TRUSTEE SELECTION, INDUCTION AND TRAINING**_
As set out in the Constitution, the Trustees have the power to appoint additional trustees. Trustees are nominated and appointed on the basis of specific skills and knowledge to enable them to govern the charity. New trustees are provided with a description of the role and training on aspects of governance and the charity’s operation.
## Objectives and Activities of the Charity
## _**CHARITABLE OBJECTS**_
FAB Croydon’s charitable objects are to advance arts, culture, and cultural heritage, in Croydon and neighbouring areas in South London.
## _**VISION**_
FAB Croydon aims to bring together those who are passionate about supporting cultural life in Croydon, and to help connect cultural groups and audiences from across the borough and beyond through projects which deliver wider social impact. We want to promote our community’s rich culture and to show people to there is more to Croydon than meets the eye.
## _**OUR ACTIVITIES DURING THE YEAR**_
Due to the effects of Covid-19 and its impact on arts and events, FAB Croydon had no activities during in the year.
## _**FUTURE PLANS**_
FAB Croydon is currently engaging with arts activists in Croydon with a view to relauching the charity.
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**FAB CROYDON - TRUSTEES ANNUAL ACCOUNTS AND ACCOUNTS - YEAR ENDED 30 JUNE 2021**
## _**PUBLIC BENEFIT**_
In setting the aims and activities the Trustees have taken due regard to the duty as outlined in the Charities Act (2011) and guidance provided by the Charity Commission. The Trustees believe that FAB Croydon delivers public benefit and have evidence and feedback to support that belief.
## _**RISK MANAGEMENT**_
The Trustees have conducted a review of the major risks to which the charity is exposed and have put in place mitigations for those risks. A project is not initiated without a funding plan in place and if the funding target is not met, is terminated early.
The trustees have put in place policies and procedures to ensure the effective management of volunteers, equal opportunities, health and safety, safeguarding and use of IT equipment. All policies and procedures are periodically reviewed, to ensure they still meet the needs of the charity.
Internal financial risks are minimised by the application of procedures for appropriate authorisation and monitoring of all transactions. Projects are carefully planned to ensure consistent quality of delivery for all operational aspects of the charity.
## Financial and Business Review
The charity’s result for its second year of operation, ended 30 June 2021 was a surplus of £3.
The unrestricted funds of the charity as at 30 June 2020 are £2,565.
## _**PRINCIPAL FUNDING SOURCES**_
The funding sources for the charity are made up of donations and grants from trusts and foundations.
## _**RESERVE FUNDS POLICY**_
In line with the Charity Commission guidance for good practice and reserves, the charity has established a policy to have a reserve fund of one year of non-project running costs (£250) to cover the minimal non project operating costs of the charity.
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**FAB CROYDON - TRUSTEES ANNUAL ACCOUNTS AND ACCOUNTS - YEAR ENDED 30 JUNE 2021**
## Financial Statements
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Receipts & Payments for Year Ended 30 June 2021
Unrestricted funds Restricted income Total funds
funds
Notes £ £ £
Receipts
Bank Interest 3 - 3
Total 3 - 3
Total Receipts 3 - 3
Payments
Administration -
Project Costs - -
Total - - -
Year Ending 30 June 2019 3 - 3
Movement in Funds
Net Receipts 3 - 3
Transfers between Funds - -
Cash Funds Last Year end 2,562 2,562
Cash Funds This Year End 2,565 - 2,565
Assets & Liabilities as at 30 June 2019
Cash Assets
Current Account 77 - 77
Deposit Account 2,485 - 2,485
-
2,562 2,562
Assets Retained for Own Use 1) 176 1,281 1,457
Liabilities None
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_Notes:_
1) Equipment purchased is currently on loan to the Museum of Croydon for use on other community heritage projects; 2 voice recorders, 2 la
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**FAB CROYDON - TRUSTEES ANNUAL ACCOUNTS AND ACCOUNTS - YEAR ENDED 30 JUNE 2021**
The trustees confirm, in accordance with the Charitable Incorporated Organisations (General) Regulations 2012, that at year end the CIO did not have any outstanding guarantees to third parties nor any debts secured on assets of the CIO.
## **The Trustees declare that they have approved the Trustees' Report above.**
Signed on behalf of the Charity's Trustees:
April 2022
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