REGISTERED CHARITY NUMBER: 1168909
Report of the Trustees and Unaudited Financial Statements for the Year Ended 8 August 2024
for
Colab Charitable Foundation
Grant Harrod Lerman Davis LLP Chartered Accountants 1st Floor Healthaid House Marlborough Hill Harrow Middlesex HA1 1UD
Colab Charitable Foundation
Contents of the Financial Statements for the year ended 8 August 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 10 |
| Detailed Statement of Financial Activities | 11 |
Colab Charitable Foundation
Report of the Trustees for the year ended 8 August 2024
The trustees present their report with the financial statements of the charity for the year ended 8 August 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
To advance the arts for the public benefit by the promotion in particular, but not exclusively, of the art of drama.
Significant activities
Building on the success of the previous year:
1. Establishing COLAB Bankside
o New Arts Space: We opened an exciting new arts venue, COLAB Bankside, which has quickly become a thriving creative hub for industry professionals and community members.
o Facilities & Programming: The space hosted numerous rehearsals, readings, writing sessions, and networking events for artists at all stages of their careers.
o Community Impact: COLAB Bankside aims to expand opportunities for the general public to engage with immersive theatre and to foster innovation in the performing arts.
2. Productions and Events
o The Descent: One of our key productions this year was The Descent, which showcased immersive storytelling and attracted a wide audience.
o Industry Support: Both established and emerging artists benefited from access to production resources, creative workshops, and rehearsal space, aiding the wider arts ecosystem.
3. Continuation of Existing Venues
o Maintaining and Expanding Spaces: Last year, we maintained our lease on one venue and signed another lease. This dual-venue approach continued into this year, ensuring multiple spaces for immersive theatre and diverse arts programming.
o Outreach and Community Engagement: By offering two distinct performance and rehearsal spaces, we broadened our reach to new neighborhoods and demographics, furthering our charitable objective of making the arts accessible to all.
4. Arts Education and Outreach
o Workshops & Masterclasses: We continued to host workshops, masterclasses, and community outreach initiatives, enabling broader public access to arts education.
o Support for Emerging Artists: Building on last year's grants, scholarships, and mentorship programs, we have offered additional support to talented individuals. This helps emerging artists develop their practice, strengthening a dynamic, diverse, and inclusive artistic community.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Arts Education and Outreach:
The Foundation has successfully implemented a range of arts programs, reaching diverse demographics and fostering creativity among individuals who may not have had access to art. Workshops, masterclasses, and community outreach initiatives have brought the arts to new audiences, nurturing a love for creativity.
Support for Emerging Artists:
Recognizing the importance of nurturing talent, the Foundation has provided grants, scholarships, and mentorship programs to emerging artists. This support has not only helped individual artists pursue their passions but has also contributed to the growth of a dynamic and diverse artistic community.
Cultural Events and Exhibitions:
The Foundation has organized and sponsored a variety of cultural events, exhibitions, and performances, showcasing the talents of established and emerging artists alike. These events have not only provided a platform for artists to share their work but have also enriched the cultural tapestry of the communities we serve.
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Colab Charitable Foundation
Report of the Trustees for the year ended 8 August 2024
FINANCIAL REVIEW Financial position
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Financial Review
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Income Generation: Income was derived from ticket sales for immersive productions, venue hire, private donations, and grants. These funds were reinvested into venue upkeep, production costs, and outreach activities.
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Expenditure: Principal expenses included rent, utilities, production materials, and artist support programs. Despite increases in operational costs, we remained committed to keeping ticket prices affordable and offering free or subsidized access to workshops and community sessions.
-Fundraising and Sponsorship: We continue to pursue partnerships, sponsorships, and donations to sustain and expand our charitable endeavors. Our donors and sponsors have played a vital role in helping us keep our creative programs accessible
Reserves policy
The Foundation maintains a prudent level of reserves to ensure stability and flexibility, allowing us to respond to unexpected challenges and seize new artistic opportunities.
FUTURE PLANS
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Program Expansion: We aim to introduce more immersive productions, further utilize COLAB Bankside, and develop touring programs to reach wider communities.
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Education and Outreach: Continued expansion of community workshops, masterclasses, and mentorship programs will remain a priority, with a particular focus on underserved communities.
-New Collaborations: We plan to collaborate with local schools, community centers, and other arts charities to share resources, widen participation, and foster a thriving creative culture.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1168909
Principal address
28 Balham Park Road London Wandsworth SW12 8DU
Trustees
B H Watkins Mrs C Chase T Davies Ms A Sanford
Independent Examiner
Jeremy Harrod Grant Harrod Lerman Davis LLP Chartered Accountants 1st Floor Healthaid House Marlborough Hill Harrow Middlesex HA1 1UD
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Colab Charitable Foundation
Report of the Trustees for the year ended 8 August 2024
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ B H Watkins - Trustee
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Independent Examiner's Report to the Trustees of Colab Charitable Foundation
Independent examiner's report to the trustees of Colab Charitable Foundation
I report to the charity trustees on my examination of the accounts of Colab Charitable Foundation (the Trust) for the year ended 8 August 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Jeremy Harrod
Grant Harrod Lerman Davis LLP Chartered Accountants 1st Floor Healthaid House Marlborough Hill Harrow Middlesex HA1 1UD Date: .............................................
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Colab Charitable Foundation
Statement of Financial Activities for the year ended 8 August 2024
| 2024 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 127,266 Investment income 2 3,544 Total 130,810 EXPENDITURE ON Raising funds 3 62,136 Charitable activities Charity Donation 2,180 Total 64,316 NET INCOME 66,494 RECONCILIATION OF FUNDS Total funds brought forward 84,149 TOTAL FUNDS CARRIED FORWARD 150,643 |
2023 Total funds £ 87,239 - 87,239 28,769 600 29,369 57,870 26,279 84,149 |
|---|---|
The notes form part of these financial statements
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Colab Charitable Foundation
Balance Sheet 8 August 2024
| 2024 Unrestricted fund Notes £ CURRENT ASSETS Debtors 6 15,566 Cash at bank 138,011 153,577 CREDITORS Amounts falling due within one year 7 (2,934) NET CURRENT ASSETS 150,643 TOTAL ASSETS LESS CURRENT LIABILITIES 150,643 NET ASSETS 150,643 FUNDS 8 Unrestricted funds 150,643 TOTAL FUNDS 150,643 |
2023 Total funds £ 15,036 77,596 92,632 (8,483) 84,149 84,149 84,149 84,149 84,149 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 07/05/2025
............................................. B H Watkins - Trustee
The notes form part of these financial statements
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Colab Charitable Foundation
Notes to the Financial Statements for the year ended 8 August 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
| INVESTMENT INCOME | |||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Rents received | 3,544 | - |
continued...
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Colab Charitable Foundation
Notes to the Financial Statements - continued for the year ended 8 August 2024
3. RAISING FUNDS
Raising donations and legacies
| Raising donations and legacies | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Support costs | 62,136 | 28,769 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 8 August 2024 nor for the year ended 8 August 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 8 August 2024 nor for the year ended 8 August 2023.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM | Unrestricted fund £ |
|
|---|---|---|
| Donations and legacies | 87,239 | |
| EXPENDITURE ON | ||
| Raising funds | 28,769 | |
| Charitable activities | ||
| Charity Donation | 600 | |
| Total | 29,369 | |
| NET INCOME | 57,870 | |
| RECONCILIATION OF FUNDS | ||
| Total funds brought forward | 26,279 | |
| TOTAL FUNDS CARRIED FORWARD | 84,149 | |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |
| Other debtors | 2024 2023 £ £ 15,566 15,036 |
continued...
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Colab Charitable Foundation
Notes to the Financial Statements - continued for the year ended 8 August 2024
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other creditors 8. MOVEMENT IN FUNDS At 9.8.23 £ Unrestricted funds General fund 84,149 TOTAL FUNDS 84,149 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 130,810 TOTAL FUNDS 130,810 Comparatives for movement in funds At 9.8.22 £ Unrestricted funds General fund 26,279 TOTAL FUNDS 26,279 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 87,239 TOTAL FUNDS 87,239 |
2024 2023 £ £ 2,934 8,483 Net movement At in funds 8.8.24 £ £ 66,494 150,643 66,494 150,643 Resources Movement expended in funds £ £ (64,316) 66,494 (64,316) 66,494 Net movement At in funds 8.8.23 £ £ 57,870 84,149 57,870 84,149 Resources Movement expended in funds £ £ (29,369) 57,870 (29,369) 57,870 |
|---|---|
continued...
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Colab Charitable Foundation
Notes to the Financial Statements - continued for the year ended 8 August 2024
8. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 9.8.22 | in funds | 8.8.24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 26,279 | 124,364 | 150,643 |
| TOTAL FUNDS | 26,279 | 124,364 | 150,643 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 218,049 218,049 |
Resources Movemen expended in funds £ £ (93,685) 124,364 (93,685) 124,364 |
|---|---|---|
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 8 August 2024.
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Colab Charitable Foundation
Detailed Statement of Financial Activities for the year ended 8 August 2024
| INCOME AND ENDOWMENTS Donations and legacies Donation Grants Investment income Rents received Total incoming resources EXPENDITURE Support costs Management Rates and water Light and heat Advertising Sundries Finance Telephone Information technology Repairs and renewals Governance costs Insurance Accountancy and legal fees Total resources expended Net income |
2024 £ 127,266 - 127,266 3,544 130,810 16,039 2,000 5,023 15,713 38,775 195 19,748 - 5,598 5,598 64,316 66,494 |
2023 £ 86,529 710 87,239 - 87,239 10,665 - 1,737 436 12,838 - 14,200 591 1,740 2,331 29,369 57,870 |
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This page does not form part of the statutory financial statements
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