2022-10-31-accounts - Graduate Fashion Foundation

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			Page
Report ofthe Trustees		1	to	5
Independent Examiner's	Report
Statement ofFinancial Activities
Balance Sheet
Cash Flow Statement
Notes to the Cash Flow	Statement		10
Notes to the Financial Statements		11	to	18
Detailed Statement ofFinancial Activities		19	to	20

			31.10.22	31.10.21
			Unrestricted	Total
			fund	funds
		Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies			310,040	222,969
Charitable activities
Operation offashion event			347,938	278,220
Investment income			41	325
Total			658,019	501,514
EXPENDITURE ON
Raising funds			52,935	52,262
Charitable activities
Operation offashion event			706,848	417,228
Total			759,783	469,490
NET INCOME/(EXPENDITURE)			(101,764)	32,024
RECONCILIATION	OF FUNDS
Total funds brought forward			194,677	162,653
TOTAL FUNDS CARRIED FORWARD			92,913	194,677

	Balance Sheet 31October 2022
		31.10.22	31.10.21
		Unrestricted	Total
		fund	funds
	Notes
FIXEDASSETS
Intangible assets	14	23,760	31,680
Tangible assets	15	1,539
		25,299	31,680
CURRKNT ASSETS
Debtors	16	50,711	78,628
Cash at bank		39,479	189,596
		90,190	268,224
CREDITORS
Amounts falling due within one year	17	(22,576)	(105,227)
NKT CURRENT ASSETS		67,614	162,997
TOTAL ASSETSLESSCURRENT
LIABILITIES		92,913	194,677
NET ASSETS		92,913	194,677
FUNDS
Unrestricted funds		92,913	194,677
TOTAL FUNDS		92,9]3	194,677

			Cash Flow Statement
			for the Year Ended 31October	2022
				31.10.22	31.10.21
			Notes
Cash flows from operating		activities
Cash generated from operations				(148,214)	(95,729)
Net cash used in operating		activities		(148,214)	(95,729)
Cash flows from investing		activities
Purchase ofintangible fixed assets					(39,600)
Purchase oftangible fixed	assets			(1,944)
Interest received				41	325
Net cash used in investing	activities			(1,903)	(39,275)
Change in cash and cash	equivalents		in
the reporting period				(150,117)	(135,004)
Cash and cash equivalents		at the
beginning ofthe reporting		period		189,596	324,600
Cash and cash equivalents		at the end	of
the reporting period				39,479	189,596

OPERATING ACT	IVI	TIES
				31.10.22	31.10.21
Net (expenditure)/income		for the reporting	period (as per the
Statement ofFinancial		Activities)		(101,764)	32,024
Adjustments for:
Depreciation charges				8,325	7,920
Interest received				(41)	(325)
Decrease/(increase)	in debtors			27,917	(66,365)
Decrease in creditors				(82,651)	(68,983)
Net cash used in operations				(148,214)	(95,729)

ANALYSIS OF CHANGES IN NET	FUNDS
	At 1.11.21	Cash flow	At 31.10.22
Net cash
Cash at bank	189,596	(150,117)	39,479
	189,596	(150,117)	39,479
Total	189,596	(150,117)	39,479

DONATIONS AND LEGACIES	DONATIONS AND LEGACIES	DONATIONS AND LEGACIES	DONATIONS AND LEGACIES	DONATIONS AND LEGACIES
					31.10.22	31.10.21
Donations	Scgift aid				104,281
Sponsorship	&membership		fees		205,759	222,969
					310,040	222,969
INVESTMENT INCOME
					31.10.22	31.10.21
Interest received					41	325
INCOME	FROM	CHARITABLE ACTIVITIES
					31.10.22	31.10.21
				Activity
Stand space				Operation offashion event	85,500	128,020
Catwalk fees				Operation offashion event	222,950	150,200
Exhibition	admissions			Operation offashion event	18,388
Digital portfolio extra income				Operation offashion event	21,100
					347,938	278,220
RAISING	FUNDS
Raising donations		and legacies
					31.10.22	31.10.21
Fundraising	costs				52,935	52,262

	for the Year Ende	for the Year Ende	for the Year Ende	d 31Octobe	r 2022
6.	CHARITABLE ACTIVITIES COSTS
					Direct	Support
					Costs (see	costs (see
					note 7)	note 8)	Totals
	Operation offashion event				558,739	148,109	706,848
7.	DIRECT COSTS OF CHARITABLE ACTIVITIES
						31.10.22	31.10.21
	Premises hire					53,275	17,647
	Security costs					19,505	6,114
	Insurance					5,269	1,902
	Light and heat					22,749	1,800
	Theatre costs					194,419	93,867
	Licences &subscriptions					144	415
	Repairs &maintenance					305
	Event office expenses					43,105	19,863
	Exhibition badges &,passes					612	1,738
	Cleaning					4,609
	Advertising &promotion					118,687	94,295
	Feature areas &catering					6,312	4,647
	Award prizes					5,288	8,834
	Activities					75,417	399
	Staffing at events					9,043	11,264
						558,739	262,785
8.	SUPPORT COSTS
						Governance
			Management	Finance	Other	costs	Totals
	Operation offashion event		134,904	74	8,325	4,806	148,109
	Support costs, included	in the above, are as follows:
	Management
						31.10.22	31.10.21
						Operation
						of
						fashion	Total
						event	activities
	Office expenses					87,541	98,745
	Cost ofnustccs uicctiugs					2,397	2,525
	Travel &subsistence					17,187	6,461
	Postage and stationery					1,190	2,196
	Bookeeping					26,000	27,000
	Bank charges					589	301
						134,904	137,228

Finance
					31.10.22	31.10.21
					Operation
					of
					fashion	Total
					event	activities
Sundries					74	460
Other
					31.10.22	31.10.21
					Operation
					of
					fashion	Total
					event	activities
Amortisation		ofintangible	fixed assets		7,920	7,920
Depreciation		oftangible fixed assets			405
					8,325	7,920
Governance		costs
					31.10.22	31.10.21
					Operation
					of
					fashion	Total
					event	activities
Auditors'	remuneration				3,200	3,000
Legal fees					1,606	5,835
					4,806	8,835
AUDITORS'		REMUNERATION
					31.10.22	31.10.21
Fees payable		to the charity's	auditors for the audit ofthe charity's	financial
statements					3,200	3,000

COMPARATIVES	F	ORTHE STATEMENT OF FINANCIAL ACT	IVITIES
			Unrestricted
			fund
INCOME AND ENDOWMENTS FROM
Donations and legacies			222,969
Charitable activities
Operation offashion	event		278,220
Investment income			325
Total			501,514
EXPENDITURE ON
Raising funds			52,262
Charitable activities
Operation offashion	event		417,228
Total			469,490
NET INCOME			32,024
RECONCILIATION		OF FUNDS
Total funds brought	forward		162,653
TOTAL FUNDS CARRIED FORWARD			194,677

14.	INTANGIBLE FIXEDASSETS
				Computer
				sofhvare
	COST
	At 1November 2021 and 31October 2022			39,600
	AMORTISATION
	At 1 November 2021			7,920
	Charge for year			7,920
	At 31October 2022			15,840
	NET BOOKVALUE
	At 31 October 2022			23,760
	At 31 October 2021			31,680
15.	TANGIBLE FIXEDASSETS
		Plant and	Computer
		machinery	equipment	Totals
	COST
	Additions	1,617	327	1,944
	DEPRECIATION
	Charge for year	323		405
	NET BOOKVALUE
	At 31October 2022	1,294	245	1,539
	At 31October 2021
16.	DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
			31.10.22	31.10.21
	Trade debtors		37,950	64,986
	VAT			13,542
	Prep ayments		12,761	100
			50,711	78,628

						31.10.22	31.10.21
Trade creditors						4,360
Taxation and	social security					3,345
Other creditors						14,871	105,227
						22,576	105,227
MOVEMENT IN FUNDS
						Net
						movement	At
						in funds	31.10.22
Unrestricted	funds
General fund					194,677	(101,764)	92,913
TOTAL FUNDS					194,677	(101,764)	92,913
Net movement	in funds, included			in the above	are as follows:
					Incoming	Resources	Movement
					resources	expended	in funds
Unrestricted	funds
General fund					658,019	(759,783)	(101,764)
TOTALFUNDS					658,019	(759,783)	(101,764)
Comparatives	for movement		in	funds
						Net
					At	movement	At
					1.11.20	in funds	31.10.21
Unrestricted	funds
General fund					162,653	32,024	194,677
TOTAL FUNDS					162,653	32,024	194,677
Comparative	net movement	in	funds, included		in the above are as follows:
					Incoming	Resources	Movement
					resources	expended	in funds
Unrestricted	funds
General fund					501,514	(469,490)	32,024
TOTAL FUNDS					501,514	(469,490)	32,024

			Net
		At	movement	At
		1.11.20	in funds	31.10.22
Unrestricted	funds
General fund		162,653	(69,740)	92,913
TOTALFUNDS		162,653	(69,740)	92,913

			Incoming	Resources	Movement
			resources	expended	in funds
	Unrestricted	funds
	General fund		1,159,533	(1,229,273 )	(69,740)
	TOTALFUNDS		1,159,533	(1,229,273)	(69,740)
19.	RELATED	PARTY DISCLOSURES

		Detailed Statement ofFinancial Activities
		for the Year Ended 31October 2022
			31.10.22	31.10.21
INCOME AND ENDOWMENTS
Donations and legacies
Donations &gift aid			104,281
Sponsorship &membership	fees		205,759	222,969
			310,040	222,969
Investment income
Interest received			41	325
Charitable activities
Stand space			85,500	128,020
Catwalk fees			222,950	150,200
Exhibition admissions			18,388
Digital portfolio extra income			21,100
			347,938	278,220
Total incoming resources			658,019	501,514
EXPENDITURE
Raising donations and legacies
Fundraising costs			52,935	52,262
Charitable activities
Premises hire			53,275	17,647
Security costs			19,505	6,114
Insurance			5,269	1,902
Light and heat			22,749	1,800
Theatre costs			194,419	93,867
Licences &subscriptions			144	415
Repairs &maintenance			305
Event office expenses			43,105	19,863
Exhibition badges &passes			612	1,738
Cleaning			4,609
Advertising &promotion			118,687	94,295
Feature areas &catering			6,312	4,647
Award prizes			5,288	8,834
Activities			75,417	399
Staffing at events			9,043	11,264
			558,739	262,785
Support costs
Management
Office expenses			87,541	98,745
Cost oftrustees meetings			2,397	2,525
Carried forward			89,938	101,270

Graduate Fashion Foundation
	Detailed Statement ofFinancial Activities
	for the Year Ended 31October 2022
		31.10.22	31.10.21
Management
Brought forward		89,938	101,270
Travel &,subsistence		17,187	6,461
Postage and stationery		1,190	2,196
Bookeeping		26,000	27,000
Bank charges		589	301
		134,904	137,228
Finance
Sundries		74	460
Other
Computer software		7,920	7,920
Plant and machinery		323
Computer equipment		82
		8,325	7,920
Governance costs
Auditors' remuneration		3,200	3,000
Legal fees		1,606	5,835
		4,806	8,835
Total resources expended		759,783	469,490
Net (expenditure)/income		(101,764)	32,024