STITCHES IN TIME
FINANCIAL STATEMENTS
Year ending March 31, 2021
Charity no. 1172056 - Company no. 10515657
Limehouse Town Hall, 646 Commercial Road, London, E14 7HA Tel: 0207 987 6164
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STITCHES IN TIME
CONTENTS
| Reference and Administrative Information | 3 |
|---|---|
| Trustees’ Report | 4 |
| Independent Examiner’s Report | 12 |
| Statement of Financial Activities | 14 |
| Balance Sheet | 15 |
| Notes to the Accounts | 16 |
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STITCHES IN TIME
REFERENCE AND ADMINISTRATIVE INFORMATION
Hendrika Santer Bream (Chair) Judith Gardiner (Vice Chair) Annie Gargya (Secretary) Margaret Mitchell (Treasurer - until 15th December 2020) Teresa Hare Duke Anh Carrick Saba Ehdego (from 10th June 2020 ) (Treasurer - from 15th December 2020) Katherine Scott (from 10th June 2020)
Premises
Limehouse Town Hall 646 Commercial Road London E14 7HA
Charity & Company number
Charity no. 1172056 Company no. 10515657
Independent Examiner
Ian Price 10 Kent Close Westoning Bedfordshire MK45 5LW
Bankers
Co-operative Bank PO Box 250 Delf House Southway Skelmersdale WN8 6WT
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STITCHES IN TIME
Trustees’ report
The Trustees present their report and accounts for the year ending 31 March 2021.
Objectives and activities
The Charity’s aims and objectives are
1) to advance education particularly but not by way of limitation in all aspects of arts, crafts and applied arts particularly but not by way of limitation that of tapestry and needlework.
2) to provide or assist in the provision of facilities for recreation and other leisure time occupation, in particular the provision of facilities for arts and crafts, in the interests of social welfare with the object of improving the conditions of life, and
3) Thereby to encourage good race relations for the benefit of the public by drawing together all members of the community irrespective of race, religion, gender or political beliefs in the pursuit of these objects.
Our context
The Charity is based and operates mostly, but not exclusively, in the east London Borough of Tower Hamlets. Lack of employment, isolation and poverty are significant problems for our local population. Local residents are more likely to be out of employment than average: people of Bangladeshi ethnic origin have the lowest level of employment of all the ethnic groups (ONS data 2018).
These issues have been dramatically exacerbated by the impact of the coronavirus pandemic. We have been able to rapidly respond and adapt to changing need through this period, and keep our important frontline services going, to ensure local communities have access to pathways of support. We have done this through rigorous data collection, expanded partnerships, and close working with funders to ensure that objectives have continued to be met and adapted where needed.
In many cases we are a ‘first port of call’ for help, and many we work with experience barriers to other support services. We have continued to do our work through a mixture of innovative creative activities and complex issue support and referral. Our coronavirus response and impact on our organisation is further outlined below.
We have been working to bring people together for over 25 years, and are one of the longest-standing arts and educational organisations in the borough, demonstrating valuable results through our work year on year.
This is why it is so important that we continue to
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Provide a forum to enable culturally diverse groups to work together
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Run educational programmes to raise levels of achievement.
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Raise levels of confidence and skill based learning for women, young people and older people.
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Create partnerships between individuals in the voluntary, statutory and private sectors.
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In normal times, our core work consists of:
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Our 'Sewing Support Network', consisting of ‘English for Sewing’ classes and personal support. This is attended by Bangladeshi (and other ethnic minority), long-term unemployed women with English as a second language where, through sewing and talking in English they improve their skills, confidence, English and employability
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Creative, free, active and social activities for local children aged 5-12, through our Children in Need funded holiday playscheme and weekly Youth Social Action Arts Club
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Providing confidential 1-to-1 advice services in the cultural industries, accredited to the Matrix Standard for Information, Advice, and Guidance.
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Weekly sewing social class for elders at risk of facing isolation, meeting with people from the local community, giving embroidery demonstrations and working with other groups on key arts projects (This year on our By You Tapestry)
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Running 9 classes each week in 5 locations across Tower Hamlets
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Our FabricWorks textile social enterprise, providing employment and industry experience to marginalised women
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Community textile and visual art projects ranging from a week to 2 year projects working with diverse communities to make socially engaged artwork.
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Developing an archive of our textile projects, including our original fifty Millennium Tapestries, our founding project that worked with over 3000 people.
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“ I am so grateful for the help and support of Stitches in Time during this pandemic . Knowing there is someone I can talk to
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whenever I need. I have felt so depressed and worried and Stitches in Time has been a ray of hope. They are helping to build up my confidence where before I have been too anxious to try and get work, through their support I know I will be able to achieve my
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dream of gaining employment in the future. I feel so much happier now and that's thanks to them.” - B
Coronavirus Response and Impact
Initial response and actions
In March 2020, we saw that the pandemic was posing increasing risk and worry to our beneficiaries, many of whom fall into more vulnerable categories - including women from minority communities, elders facing social isolation, and children living in poverty.
99% of respondents in our first Covid response consultations were extremely worried or somewhat worried about the effects that the pandemic was already having on their lives.
In our view, Government action took too long to materialise, so we took the decision to pause face-to-face work and begin orientating to remote support, prior to the first lockdown. We were able to do this well because as a small and project-focused organisation we are used to changing, reviewing, and adapting work on a regular basis.
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What we prioritised
Our first priority was the safety of our staff, our beneficiaries, and community. We immediately compiled emergency contact lists for participants in our various projects, beginning a process of support and continuous consultation. This formed the basis of our ‘Telephone Support Network’ that has continued throughout the pandemic. Through regular contact we provided a vital lifeline for some, and much-needed guidance for others.
Through our Telephone Support Network, we provided:
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Up-to-date translated Government advice to beneficiaries and their families
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Vital contact for those experiencing social isolation
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Information, advice, and guidance sessions for confidential issues
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Space to talk for those who experienced loss in the family
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Support with access to emergency food supplies, and Government assistance for those able to apply
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Referral and signposting for specialist services
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Creative activity packs, and English learning resources, to undertake activities at home
As the weeks and months went by, we experimented with various methods of communication and participation, such as video calls, and small face-to-face meet-ups outside such as walking groups when it became appropriate. This was a particular challenge for those with low technological experience, but we had great success with supporting those that could participate, and finding workarounds for those who found it too challenging.
We have seen many complex and entrenched issues get worse over this time, and have had to keep re-orientating our work to not only deal with things early ‘in house’, but to bridge the widening gap between those hardest to reach and services meant to be in place as a safety net for all. The growth of mental health issues has been amongst our highest concern, alongside increases in the effects of poverty, and marginalised voices not being heard.
“ Stitches In Time have supported me throughout the lockdown .
I have been alone in a hostel since December. My daughter and my tutor have helped and supported me. In my hostel i dont have T.V, Radio or wifi. I relied on Anwara and my daughter to update me on the news and covid.” - J
How we worked with funders, and our successes
The Community fund (formerly Big Lottery), and London Community Response:
Our Sewing Support Network, built up across the borough over four years through the Women & Girls Initiative, was well placed to provide immediate support, and be a direct conduit for marginalised voices. Our work with local minority and long-term unemployed women already had a long history of building trust in our 25 year presence in the borough, and providing a safe space for social English learning and support for confidential issues. We provide Information, Advice, and Guidance to the Matrix standard, which we have held for over seven years. This network of cross-borough ‘English for Sewing’ classes, peer support, and volunteering, was quickly adapted into remote support through our Telephone Support Network.
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Our bilingual tutors and caseworkers delivered support and contact to over 200 beneficiaries and their families every week. We made over 4000 calls during the pandemic lockdowns, and prioritised contact lists for the most vulnerable, whilst developing activities and continuous learning and social support through small group video calls, and creative learning activities sent in the post, such as our ‘By You Tapestry’ embroidery project (see Arts Council, below). This work was further supported by TCF Reaching Communities Covid Emergency Response strand as part of the London Funders Initiative.
The Henry Smith Charity:
The above work with our Sewing Support Network was then picked up and supported by The Henry Smith Charity, in a three year programme that will now be crucial in helping us adapt as the pandemic continues and in some ways has already been subsumed into ‘normal’ life.
Children In Need:
For over ten years we have provided creative learning and holiday arts activities for children facing poverty and high density housing on our local Locksley Estate, for 5-12 year olds. This developed over time into our Youth Volunteer programme, and Youth Social Action Arts Club - as young people grew up and wanted to remain involved. All of this work, with lead artists and PGCE trained staff revolves around developing art and design skills, and developing confidence through creative learning and social interaction.
During the pandemic we continued to provide remote support and contact for children, played games over video call, and when appropriate resumed safe outside activities in the Summer, and our weekly term-time Arts Club. Young people were also pivotal in helping us make and design huge outside decorations on the estate to collaborate with ‘More or Less’ a sustainable fashion magazine, who ran an editorial feature on our organisation.
Trusthouse Charitable Foundation:
FabricWorks, our social enterprise project and textile training programme has been supporting local long-term unemployed women through education and volunteering since 2015, matching London-based designers and makers with our production team of expert sewers. Progression pathways include going onto further education, including support into other unrelated aspirations such as childcare qualifications, or into work on our in-house textile production team.
During the pandemic we experimented with a variety of home-learning activities with videos and learning packs, and managed to provide home-based work to 13 women on our huge facemask-making initiative. During the lockdowns we were able to make thousands of facemasks from ecological scrap donated fabric, helping us provide a crucial income for women in our network, some of whom weren’t able to access Government support.
Arts Council:
Over the last year and a half we received over 150 embroideries from people across the UK and countries all around the world, as part of our By You Tapestry project, funded by the Arts Council. We invited people to embroider their experience of isolation, and things that they valued and reflected on, and also did some workshops with local community, schools, and refugee groups. The final piece will be exhibited in March 2022 as a long alternative historical document, covering different periods of the pandemic, and will measure about 28 metres in length. Each submitted embroidery came to us with a letter or message that had some incredible stories of people's experiences during this (long) time.
As a project to offer a creative outlet to process some of the difficult circumstances people were going through around this time, we were astounded by the need that this facilitated. It also proved our most successful social media campaign ever, with thousands of interactions and downloads of our activity packs to undertake activities at home.
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Garfield Weston Foundation:
Garfield Weston have now funded us for a second time, recognising the important grassroots impact and reach that our organisation has. In this time of financial uncertainty, their core support has been invaluable in helping us keep core infrastructure going as we pivot and adapt to the new challenges ahead.
Income changes and fundraising activities, and financial review
In March 2020, we lost a large amount of expected project income, from grants, SLAs, and fee paying work, c.40% of our normal turnover. This naturally caused a great period of uncertainty, but our priority at the forefront of our minds was to keep important frontline work going, whilst keeping staff, and people in our network, safe.
This required us to authorise use of approximately half of our four months of reserves, to maintain the frontline support that beneficiaries needed, whilst we rapidly fundraised and sought new income. Being well-placed to support hundreds of people disproportionately hit by the pandemic meant that we were able to secure funding from emergency programmes rapidly put in place by funders who keenly understood the need of the sector. In addition to that, our trustees were pivotal in helping us secure some larger donations to support core costs and rebuild reserves back to safe levels within a small matter of months. Our facemask-making initiative also brought in thousands of pounds in support for core costs as well as providing continued employment for local women. We sold masks to local people directly, through Tenants and Residents Associations, online around the country, and to specialist commissions for the NHS and other social enterprise initiatives such as Pucker Masks, and Birdsong ethical fashion brand. This initiative was also recognised by a donation and award from Canary Wharf Group, to celebrate our continuous work during the pandemic.
Planned expenditure was more or less in line with existing project budgets, with some minor alterations agreed with funders to adapt budgets slightly. Our diversity of income through fee-based creative projects as well as commissions through our FabricWorks social enterprise meant that we could fill expenditure gaps where needed alongside agreed utilisation of some of our reserves. We have since rebuilt our reserves through incredible fundraising efforts and cost saving measures.
Covid steps forward - what we have gained and where we can best respond
We are still no doubt adapting to the environment that we find ourselves in, and we are preparing for multiple eventualities in the future as we analyse the ongoing impact on our beneficiaries and organisation.
We have:
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Recorded a huge amount of data, both quantitative and qualitative, that will help us support and provide a voice for underrepresented communities. This will be key in securing new project income, and sharing learning with other organisations and Government fact-finding
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Continued relationships with local people. By providing a continuous level of support, we have ensured that those in our network have not been left behind. Word of mouth has always been key in reaching new people through our work, so our longstanding reputation in our community will be a key asset going forward.
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- Developed new ways of working. By shifting to increased remote working, we have taken advantage of free support from a variety of tech providers. This will enable us to remain agile, and keep our cost basis low to ensure that any money fundraised for our organisation goes directly to supporting those that need it.
Strategic Development
We continue our successful organisational development strategy that reflects the environment we work in. Underpinning this are our core directives:
A - Better evidence
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B - More visibility
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C - Strengthen local partnerships
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D - Become more secure as an organisation
We have made good progress with these aims, in a challenging time.
A - Better evidence
Previous initiatives to enhance our data recording have put us in a strong position going into the pandemic. By streamlining our information on outcomes and outputs we had a better idea of what we and our beneficiaries valued, and therefore a better idea of what to keep track of.
We developed new online recording mechanisms during the pandemic ‘on the fly’, and were able to record a huge amount of data that enabled us to keep track of beneficiary situations on a granular level, and ensure that contact for the most vulnerable was consistent.
We now have an enormous amount of qualitative and quantitative data on the disproportionate impact of the pandemic to our beneficiaries. Not only do the numbers speak to the inequalities that we already knew existed, but the very human voices of marginalised groups are a vitally important record.
As the landscape keeps changing over the coming months this evidence base will be important in not only shaping our future work, but also in feeding into other Local Authority and National Government responses to ensure an equitable long-term impact for all.
We have also retained our Matrix quality standard for another 3 years, proving the quality of our work in the Information, Advice, and Guidance sector.
B - More visibility
Visibility has been key in our success in this period. By taking a risk with proposing our By You Tapestry project idea on social media, we catalysed a huge response of public support that has continued into donations and amazing publicity in magazines, local and national press.
Developing new ways of contact through things like communications tools like WhatsApp have meant that we have maintained presence and contact with local people at a time when it was needed the most.
C - Strengthen local partnerships
Drawing upon and developing existing local partnerships has also been incredibly important during this time. We have done this through a variety of means.
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Working closely with funders has meant we could access shared learning, and develop projects rapidly to meet emerging need.
With local organisations, we increased and developed pathways of referral, shared learning, and in some cases developed new multi-organisation project initiatives to fundraise for or adapt existing resources to.
Our main building, Limehouse Town Hall, and its collection of organisations and talented individuals remains a strong base of operations in which to innovate project ideas and draw upon support.
D - Become more secure as an organisation
Though individual organisations’ futures in the sector are generally speaking more precarious than they were a year and a half ago, we have overcome an initial period of uncertainty and are confident that we are well positioned to meet future needs and challenges.
Operationally, we have and are continuing to adapt processes to become more efficient, make better use of online technology, and minimise overhead.
Our board has gone through recent processes to bring in new specialisms of trustees, and we are continuing to look at ways to build in more beneficiary-led input through continuous consultation and advisory work.
We are now pivoting our fundraising strategy away from the shorter-term focus that the pandemic necessitated, and are looking to secure longer-term grants to link into our ecosystem or beneficiary-requested projects.
We have rebuilt reserves and have conducted strategic planning in the event of future lockdowns and changes in need that could emerge from those hardest hit. We are also continuously developing new project ideas, both in-house and in partnership with other local organisations and individuals.
Structure, governance and management
The Charitable Trust is constituted by Trust Deed. All necessary procedures have been completed for us to become a company limited by guarantee in addition to our existing registered charity status from 1[st] April 2018. The organisation is a charitable company limited by guarantee as defined by the Companies Act 2006 and registered as a charity with the Charity Commission. The Company was established under a Memorandum and Articles of Association which established the objects and powers of the Charitable Company and is governed by its Articles of Association. It was established on 7 December 2016 and the company remained dormant until the new financial year on 1 April 2018.
The Charity aims to have a diverse Board of Trustees and consults and co-produces with service users constantly, using varied methods, to inform our work. Central to Stitches in Time’s ethos is that participants play an essential role in the running and leading of the organisation e.g. running social events and group activities, and introducing new participants.
The Trustees have reviewed their skills and experience and recruited two new Trustees who are a qualified accountant and qualified solicitor, ensuring stronger financial and legal oversight.
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Risk Statement: The Trustees have recognised their duty to identify and review the risks to which the charity is exposed, and to ensure that appropriate controls are in place to provide reasonable assurance against fraud and error. The Charity ensures its financial procedures, health and safety policy and safeguarding procedures are reviewed periodically to reflect changing legislation and to refresh knowledge and practice.
Exemptions from disclosure
Stitches in Time does not claim any exemptions from disclosing the names of Trustees, the charity’s address, or other information normally included in a Trustees’ annual report.
Funds held as custodian trustee on behalf of others
No funds were held as a custodian trustee on behalf of others during the year.
Acknowledgement and thanks
The Trustees wish to acknowledge and thank the staff for their hard work and dedication throughout the year, in very challenging circumstances and a great period of uncertainty. Their vision, energy and innovation create the environment in which each and every person involved is able to develop personally and to contribute to and engage in the future development of Stitches in Time.
It is important also to acknowledge the important and essential contribution of all our volunteers whose goodwill and support is invaluable to us. We have received valuable pro-bono support in a variety of specialist areas, saving a substantial amount of expenditure.
We have enormous gratitude to the funders and donors that have recognised the value of our work and continue to support us.
Approval
This report was approved by the Trustees on 23rd December 2021, and signed on their behalf.
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Trustee and secretary
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12 STITCHES IN TIME CHARITY COMMISSION FOR ENGLAND AND WALES Independent examinerfs report on the accounts Section A Independent Exarniner's Report Report to the trustees1 members of snrcHEs INriME On accounts for Ihe year ended Charity no lif any) 31sr 2D21 I1I20S6 Set out on pages I report to the trustees c*) my examination of the a(£ounts of the above charity llhe Twsf) for the year ended 311031)011 . Responsibilitigs and As the chaiity trustees of the Trust. you are responsible for the preparation basls of report of the attounts in aCCordare with the requirements of the Charities Act 2011 {Ihe Acri. I rert in resped of my examination ofthe Trust's a(x>)unts carried out under sedion 145 of the 2011 Act and in rrng out my examirsalion, I have followed the applicable Dire(aKS given by the Chanty Commission under section 145(5Kbl of the Ad. I have C4)mpleted my examination. I confirm that no material matters have come lo my attentw)n ') in connection with the examination which gNes me cause to believe that in. any material respect.. accountiNJ records V•we not kept in acojrdance wlth section 130 of the Act or the accwnts do not erd th the auJ)unting records Independenl examlnerfs statement I have no COnmS aThJ have me across no other matters in connection th the examination to vthich attention should be drawn in order to enable 8 pmper understanding of the accounts to be reached. ' Please delete the words in the bi8ckets rfthey do not appty. Signed: Date: Name: FIN HEMLY L Relevant professional qualffication{s) or body Irf any): PCM41 10, KENr cws ML4g £LW IER October 2018
13 Section B Disclosure Onty oy)mplete rf the examiner needs to hhlight mattets of (K)nrn {see CC32, Independent examination of charity acccAmts: direct$ and guidance for ex8miners}. Give here brief details of any items th* th• examiner wishes to disclose. Nor APPU CIEE IER October 2018
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STITCHES IN TIME
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDING MARCH 31, 2021
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| Funds | Funds | Funds | Funds | ||
| 2021 | 2020 | ||||
| Notes | £ | £ | £ | £ | |
| Incoming Resources | |||||
| Generated funds: | |||||
| Voluntary income: Grants | 5 | 26,389 | 155,405 | 181,793 | 124,571 |
| Donations | 10,799 | - | 10,799 | 2,368 | |
| Bank interest, gross | - | - | - | ||
| Charitable activities: | |||||
| Service Level Agreements | 6 | - | - | - | |
| Fees and sales | 31,295 | - | 31,295 | 42,507 | |
| Surplus on sale of assets | - | - | - | ||
| –––––– | –––––– | –––––– | –––––– | ||
| Total Incoming Resources | 68,483 | 155,405 | 223,887 | 169,446 | |
| Resources Expended | |||||
| Charitable activities | 7 | 26,892 | 144,539 | 171,431 | 190,523 |
| Governance | 13 | - | 13 | 33 | |
| –––––– | –––––– | –––––– | –––––– | ||
| Total Resources Expended | 26,905 | 144,539 | 171,444 | 190,556 | |
| –––––– | –––––– | –––––– | –––––– | ||
| Net Incoming/(Outgoing) | |||||
| Resources for the year | 41,578 | 10,865 | 52,443 | (21,110) | |
| Reconciliation of Funds: | |||||
| Total Funds brought forward | 29,212 | 34,877 | 64,090 | 85,201 | |
| –––––– | –––––– | –––––– | –––––– | ||
| Total funds carried forward | 70,791 | 45,743 | 116,533 | 64,090 | |
| –––––– | –––––– | –––––– | –––––– |
The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared.
All of the above amounts relate to continuing activities, and are rounded to the nearest whole pound sterling (GBP)
The notes on pages 16 to 22 form part of these accounts.
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STITCHES IN TIME
BALANCE SHEET AS AT MARCH 31, 2021
| 2021 | 2020 | ||
|---|---|---|---|
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible Assets | 8 | 0 | 0 |
| CURRENT ASSETS | |||
| Debtors | 9 | 8,180 | 7,271 |
| Cash at Bank | 155,689 | 76,735 | |
| Cash in hand | 569 | 890 | |
| –––––– | –––––– | ||
| 164,438 | 84,015 | ||
| LIABILITIES | |||
| Amounts falling due within one year | 10 | 47,906 | 19,925 |
| –––––– | –––––– | ||
| TOTAL CURRENT ASSETS LESS LIABILITIES | 116,534 | 64,090 | |
| –––––– | –––––– | ||
| NET ASSETS | 116,534 | 64,090 | |
| _____ | _____ | ||
| Represented by: | |||
| FUNDS | |||
| Unrestricted | 70,791 | 29,212 | |
| Restricted | 11 | 45,743 | 34,877 |
| –––––– | –––––– | ||
| TOTAL FUNDS | 116,534 | 64,090 | |
| _____ | _____ |
Approved by the Management Committee / Board of Trustees on 23rd December 2021
Trustee and secretary
The notes on pages 16 to 22 form part of these accounts
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STITCHES IN TIME
NOTES TO THE ACCOUNTS, MARCH 31, 2021
1. STATUS
The organisation is an incorporated registered charity and successor to the unincorporated registered charity of the same name.
2. ACCOUNTING POLICIES
(a) The financial statements have been prepared under the historical cost convention, and in accordance with applicable United Kingdom accounting standards, the Statement of Recommended Practice ‘Accounting and Reporting by Charities’ issued in March 2005 (SORP 2005) and the Charities Act 2011.
(b) Tangible Fixed Assets: Capital expenditure on items £250 or over is depreciated at rates designed to write off the costs over the estimated useful lives of the assets, calculated on the straight line method, less any residual value.
(c) Incoming Resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
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Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. Such income is deferred when the donor specifies that the grant or donation must only be used in future accounting periods.
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Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts.
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Investment income is included when receivable.
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Incoming resources from charitable trading activity are accounted for when earned.
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Incoming resources from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.
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(d) Resources expended
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates:
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Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
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Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity.
(e) Fund accounting
Funds held by the charity are either:
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unrestricted general funds: these are funds which can be used in accordance with the charitable objects at the discretion of the trustees;
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restricted funds: these are funds which 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.
(f) Stock and work in progress
Stock and work in progress are valued at cost. Cost includes all direct expenditure and overheads based on the normal level of activity.
3. TAXATION
The charity is provisionally exempt from tax on income and gains to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity.
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5. GRANTS
| Total Funds | Total Funds | Total Funds |
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Arts Council England | 19,510 | - |
| BBC Children In Need | 29,397 | 29,397 |
| Big Lottery Women & Girls Development Fund | 9,320 | 55,920 |
| The Community Fund | ||
| Reaching Communities Covid Response | 37,740 | - |
| EQUIP | 2,000 | - |
| The Henry Smith Charity | 37,438 | - |
| Jobs Retention Scheme | 6,389 | - |
| London Borough Tower Hamlets Tackling Poverty Fund | - | 14,790 |
| Trusthouse | 20,000 | 20,000 |
| Big Lottery Awards for All | - | - |
| Groundwork | - | 4,464 |
| Garfield Weston Foundation | 20,000 | - |
| –––––– | –––––– | |
| 181,794 | 124,571 | |
| –––––– | –––––– |
- SERVICE LEVEL AGREEMENTS
| Total Funds | Total Funds |
|---|---|
| 2020 | 2019 |
| £ | £ |
| - | - |
| –––––– | –––––– |
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7. CHARITABLE ACTIVITIES
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| Funds | Funds | Funds | Funds | ||
| 2021 | 2020 | ||||
| Notes | £ | £ | £ | £ | |
| Salaries | 3,446 | 62,951 | 66,397 | 53,416 | |
| –––––– | –––––– | –––––– | –––––- | ||
| Average number of | |||||
| employees: FTEs 2.4 (2019/20: 2.4) | 3,446 | 62,951 | 66,397 | 53,416 | |
| Fees | 20,611 | 60,699 | 81,310 | 102,982 | |
| Projects | 2,340 | 4,996 | 7,336 | 12,645 | |
| Depreciation | 8 | - | - | - | - |
| Crèche | - | - | - | - | |
| Rent | - | 8,881 | 8,881 | 12,039 | |
| Telecommunications | - | 1,019 | 1,019 | 791 | |
| Postage, stationery and photocopying | 214 | 44 | 258 | 765 | |
| Insurance | (11) | 928 | 918 | 679 | |
| Bank charges | 1 | 4 | 5 | 36 | |
| Travel and subsistence | - | - | - | 1,990 | |
| Equipment: | |||||
| minor purchases | - | 822 | 822 | 1,486 | |
| maintenance | - | 125 | 125 | 312 | |
| Administrative support | - | 365 | 365 | 1,508 | |
| Memberships | 214 | 1,854 | 2,068 | 736 | |
| Publicity | 107 | 350 | 458 | 1,172 | |
| Studio maintenance | (30) | 1,499 | 1,469 | 879 | |
| Recruitment | - | - | - | - | |
| –––––– | –––––– | –––––– | –––––– | ||
| 26,892 | 144,539 | 171,431 | 190,523 | ||
| –––––– | –––––– | –––––– | –––––– |
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8. FIXED ASSETS
| Computer | Production | Total | |
|---|---|---|---|
| equipment | equipment | ||
| £ | £ | £ | |
| At cost: | |||
| at 1.4.20 | - | - | - |
| additions | - | - | - |
| disposals | - | - | - |
| ––––– | ––––– | ––––– | |
| at 31.3.21 | - | - | - |
| Depreciation: | |||
| at 1.4.20 | - | - | - |
| 25% per annum | - | - | - |
| disposals | - | - | - |
| ––––– | ––––– | ––––– | |
| at 31.3.21 | - | - | - |
| ––––– | ––––– | ––––– | |
| Net Book Value, 31.3.21 | - | - | - |
| ––––– | ––––– | ––––– | |
| Net Book Value, 31.3.20 | - | - | - |
| ––––– | ––––– | ––––– |
9. DEBTORS
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Debtors, trade | 5,074 | 5,310 |
| Grants receivable | 1,951 | - |
| Pre-payments | 519 | 1,325 |
| Deposit, rent | 636 | 636 |
| –––––– | –––––– | |
| 11,280 | 7,271 | |
| –––––– | –––––– |
21
10. CURRENT LIABILITIES, AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Creditors | 19,335 | 8,577 |
| Refundable deposits | 495 | 703 |
| Salaries/PAYE/NIC | 5,613 | 1,325 |
| Accrued expenses | - | - |
| Sundry Creditors | - | - |
| Grants in Advance | ||
| Big Lottery Women & Girls | - | 9,320 |
| The Henry Smith Charity | 22,463 | - |
| –––––– | –––––– | |
| 47,906 | 19,925 | |
| –––––– | –––––– |
COMMITMENTS UNDER OPERATING LEASES
At March 31, 2020, the charity had no annual commitments under non-cancellable operating leases as set out below.
| leases as set out below. | ||
|---|---|---|
| Assets other than | ||
| land and buildings | ||
| 2021 | 2020 | |
| £ | £ | |
| Operating leases which expire: | ||
| within 2 to 5 years | 0 | 0 |
11. RESTRICTED FUNDS
| Balance at | Balance at | Movement in Balance at |
Movement in Balance at |
Movement in Balance at |
|---|---|---|---|---|
| April 1, | Resources | March 31, | ||
| 2020 | Incoming | Outgoing | 2021 | |
| £ | £ | £ | £ | |
| Arts Council England | - | 19,510 | (19,510) | - |
| BBC Children In Need | 5,618 | 29,397 | (29,397) | 5,184 |
| Big Lottery | ||||
| Women & Girls Development Fund | 9,810 | - | (9,810) | - |
| The Community Fund | ||||
| Reaching Communities Covid Response | - | 37,740 | (37,740) | - |
| EQUIP | - | 2,000 | (0) | 2,000 |
| The Henry Smith Charity | - | 37,438 | (18,298) | 19,139 |
| Trusthouse | 19,450 | 20,000 | (20,030) | 19,420 |
| –––––– | –––––– | –––––– | –––––– | |
| 34,877 | 155,405 | (144,539) | 45,743 | |
| –––––– | –––––– | –––––– | –––––– |
Project funds: All of the above provide revenue and/or capital funding for projects.
22
12. TRUSTEE REMUNERATION AND RELATED PARTY TRANSACTIONS
No trustees received any remuneration during the year (2021: £nil). There were no expenses reimbursed to, or paid on behalf of, members of the Management Committee.
No trustees or other persons related to the charity had any personal interest in any contract or transaction entered into by the charity during the year (2021: £nil).