**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. Page 1 **Colab Charitable Foundation** ## **Report of the Trustees for the year ended 8 August 2024** ## **FINANCIAL REVIEW Financial position** 5. Financial Review - 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. - 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** - Program Expansion: We aim to introduce more immersive productions, further utilize COLAB Bankside, and develop touring programs to reach wider communities. - 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 Page 2 **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 Page 3 **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: 1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Jeremy Harrod Grant Harrod Lerman Davis LLP Chartered Accountants 1st Floor Healthaid House Marlborough Hill Harrow Middlesex HA1 1UD Date: ............................................. Page 4 ## **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 Page 5 ## **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 Page 6 **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... Page 7 **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... Page 8 ## **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... Page 9 ## **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. Page 10 **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| |---|---|---| This page does not form part of the statutory financial statements Page 11