DocuSign Envelope ID: 5688640D-37C5-42D1-BA21-0EA172067F48
Charity number: 1173218
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 APRIL 2021
RUFF SQWAD ARTS FOUNDATION
DocuSign Envelope ID: 5688640D-37C5-42D1-BA21-0EA172067F48
## RUFF SQWAD ARTS FOUNDATION
## CONTENTS
||Page|
|---|---|
|**Reference and administrative details of the Charity, its Trustees and advisers**|1|
|**Trustees' report**|2 - 4|
|**Independent examiner's report**|5|
|**Statement of financial activities**|6|
|**Balance sheet**|7|
|**Notes to the financial statements**|8 - 16|
DocuSign Envelope ID: 5688640D-37C5-42D1-BA21-0EA172067F48
## RUFF SQWAD ARTS FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 1 APRIL 2021
## **Trustees**
Buba Sahor, Chair Derek Boakye, Trustee Anton Chambers, Trustee
**Charity registered number** 1173218 **Principal office** Unit 11 Echo Building East Bay Lane London E15 2SJ **Accountants** Menzies LLP Chartered Accountants Centrum House 36 Station Road Egham Surrey TW20 9LF **Independent Examiner** Janice Matthews FCA Menzies LLP Centrum House 36 Station Road Egham Surrey TW20 9LF
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DocuSign Envelope ID: 5688640D-37C5-42D1-BA21-0EA172067F48
## RUFF SQWAD ARTS FOUNDATION
## TRUSTEES' REPORT FOR THE YEAR ENDED 1 APRIL 2021
The Trustees present their annual report together with the financial statements of the for the year 2 April 2020 to 1 April 2021.
## **Objectives and activities**
## **a. Policies and objectives**
The objects of Ruff Sqwad Arts Foundation, as set out in our governing document are:
To act as a resource for young people and young adults by providing advice and assistance and organising programmes of physical, educational, high quality arts and other activities as a means of:
(a) advancing in life and helping young people and young adults by developing their skills, capacities and capabilities to enable them to participate in society as independent, mature and responsible individuals;
(b) advancing education;
## (c) relieving unemployment;
(d) providing recreational and leisure time activity in the interests of social welfare for people living in the area of benefit who have need by reason of their youth, age, infirmity or disability, poverty or social and economic circumstances with a view to improving the conditions of life of such persons.
## **b. Activities undertaken to achieve objectives**
In 2017, grime legends Prince Owusu-Agyekum (aka Rapid) and Ebenezer Ayerh (aka Slix) founded Ruff Sqwad Arts Foundation (RSAF) to give young people direct access to mainstream resources, knowledge, and opportunities to reach their full potential in creative careers and life.
Through our innovative way of working, we create meaningful cultural engagement opportunities by integrating high quality arts, youthwork, industry connections and enterprise. We were previously based in RebBox Studios in Poplar, East London but have since moved so we’re now based in Hackney Bridge which is a new site in Newham with many thriving creatives, charities, organisations, companies and brands like the Good Growth Hub, The Outrunners, Borkwood & Co, Discordo and Wicked Bike Repair. Moving into the Hackney Bridge community has really heled inspire and motivate our young people and helped further strengthen our profile and partnerships. As a result of this we’ve continues to develop, expand and evolve our range of cross cultural/creative and cross sector offering which a huge emphasis on creating and delivering projects for youth ages 11-21+ to support personal and talent development.
## **Current Programming**
**Fading Short Film Complete:** In May 2020 we completed our first short film ‘Fading’ which was written and performed by the young people. The film touched on issues such as identity, teen related pressures, youth and women empowerment and self-image. We were scheduled to get the film entered into the Cannes film festival and if successful take the cast of young people to a viewing but due to the pandemic we were unable to fulfil this ambition.
**YCHTB Summer Sessions:** Following the success of the 2019 summer session that were funded by Joe Strummer we received some funding from once again from the Joe Strummer foundation to run sessions for Artist, Sound Engineer, Producer and Talent Development. This for our young people was an amazing opportunity especially being that it was during the summer, a time when many young people lack activities to engage in we had good attendance levels.
**Serious Sessions/online mentoring:** These studio sessions were very useful in providing consistent space and opportunities during the simmer as it ran concurrently with the Summer Session. We had a great attendance level even though we had to run a reduced service due to the covid related restrictions outlined by the NYA. These sessions were funded by the SESF and enabled us to implement at peer 2 peer mentoring system online/remotely to the project which was very impactful as we had young creatives gaining mentorship from young that were a few years older than them.
**Discuss and Devour Piloted:** As part of our efforts to meet the creative demands of the oyuht and expand our offering we piloted our first podcast in April 2021. The Discuss and Devour podcast series is a youth-led initiative for young people aged 11-21. It provides a platform to voice opinions on a range of topics and issues to become agents of positive social change by bridging the gap between different cultures and promoting intercultural understanding. These pilot episodes were later on
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DocuSign Envelope ID: 5688640D-37C5-42D1-BA21-0EA172067F48
## RUFF SQWAD ARTS FOUNDATION
## TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 1 APRIL 2021
## **Objectives and activities (continued)**
reviewed and premiered to various young people and the parents of the cast who all feedback the great potential and need of intuitive.
**Mayor’s Fund for London Ambassadors –** Prince and Ebs are Ambassadors for the Mayor’s Fund for London, which aims to support young Londoners from low income backgrounds to aspire to fulfil their potential through education, well-being and employment programmes. https://www.mayorsfundforlondon.org.uk/
Prince and Ebs are both original members of the talented and innovative East London collective group Ruff Sqwad, who are now in the pioneering movement to shift grime music mainstream.
As teenagers in East London, Ruff Sqwad were passionate about making music and started off testing out and developing their skills in youth club. This led to pirate radio sessions where they gained a large and loyal following, but they knew they needed solid material in the form of independent albums to get to the next level. It was Wiley who came to them when he saw them on the streets with no money, no studio, no place, and it was Grime Icon Wiley who asked what they needed. He booked out a big studio in south London and Ruff Sqwad were there 4-5 days a week recording, recording, recording. Their first ever mix tapes “Guns and Roses 1 & 2” are now seen as classics. It is this way of working and Prince and Ebs’ journeys that have inspired them to develop RSAF.
Since 2014, Prince and Ebs have been working at Spotlight in Tower Hamlets, delivering regular music sessions You Can’t Handle The Booth (YCHTB) with a core group of 30-35 young people aged 11-19 mainly from Hackney, Newham and Tower Hamlets. Prince and Ebs wanted to do more for the young people, and decided it was time to design and deliver their own programmes. Ebs and Prince started RSAF so they can work with more young people and support them in a way that would have more sustainable impact on them, their communities, and the cultural/creative sector.
In January 2020 we were delighted to be awarded £100,000 through the Arts Council England’s Elevate Fund which will support our organisation development through to April 2022. Activities include supporting the core team (Ebenezer and Prince, Founders and Creative Leads, and Sian, Key Collaborator on Development, Partnerships and Social Change) and partners, in strengthening RASF’s financial resilience, digital infrastructure, delivery mechanisms and business model to better connect young people with mainstream resources, knowledge and opportunities to reach their full potential in creative careers and life.
Now well into our Elevate funding support we’re now actively connecting with various organisations and individuals that can help us the things to the next level and we shall be looking at more tangible ways to utilise our ambassadorships to impact more young people and communities in neighbouring boroughs.
In approving the RSAF programming, the Trustees have had regard to the guidance issued by the Charity Commission on public benefit.
## **Achievements and performance**
## **a. Key performance indicators**
We have started implementing ways to build our reserves but currently don’t have the level of sustainable reserves as we desire but as we are still relatively young organisation that like many was impacted by the pandemic we’re still developing ways to develop things adequately. One of our main goals is still to invest in our core team and build reserves to 6 month running costs as part of our business planning, income generation and fundraising activities.
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DocuSign Envelope ID: 5688640D-37C5-42D1-BA21-0EA172067F48
## RUFF SQWAD ARTS FOUNDATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 1 APRIL 2021
## **Financial review**
## **a. Going concern**
The Coronavirus pandemic is creating significant uncertainty at the current time and the Charity is not immune to this. The trustees are working to ensure the safety of all those involved with Ruff Sqwad Arts Foundation and to maintain the continuity of its activities and to adhere to Government advice. Whilst the pandemic will have a financial impact on the Charity, at this stage, it is not possible to reliably forecast what this may be. After making appropriate enquiries, however, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the next twelve months. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
## **Structure, governance and management**
## **a. Constitution**
Ruff Sqwad Arts Foundation (RSAF) has a Constitution of a Charitable Incorporated Organisation and is registered with the Charity Commission. The principal object of the Charity is to act as a resource for young people and young adults by providing advice and assistance and organising programmes of physical, educational, high quality arts and other activities.
## **b. Methods of appointment or election of Trustees**
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
## **Statement of Trustees' responsibilities**
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................ **Buba Shor** Trustee (Chair)
Date: 01-Feb-2022
................................................ **Ebenezer Ayerh** Co-founder 31-Jan-2022
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DocuSign Envelope ID: 5688640D-37C5-42D1-BA21-0EA172067F48
## RUFF SQWAD ARTS FOUNDATION
## INDEPENDENT EXAMINERS' REPORT TO RUFF SQWAD ARTS FOUNDATION
## **Independent examiner's report to the Trustees of Ruff Sqwad Arts Foundation ('the Charity')**
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 1 April 2021.
## **Responsibilities and basis of report**
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no 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 Charity as required by section 130 of the 2011 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.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Janice Matthews FCA
Dated: 01-Feb-2022
## **Menzies LLP**
Centrum House 36 Station Road Egham Surrey TW20 9LF
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DocuSign Envelope ID: 5688640D-37C5-42D1-BA21-0EA172067F48
## RUFF SQWAD ARTS FOUNDATION
## STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 1 APRIL 2021
|**Note**
**Income from:**
Donations and legacies
3
Charitable activities
4
**Total income**
**Expenditure on:**
Raising funds
5
Charitable activities
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Restricted**
**funds**
**2021**
**£**
**89,503**
**-**
**89,503**
**-**
**97,048**
**97,048**
**(7,545)**
**51,094**
**(7,545)**
**43,549**|**Unrestricted**
**funds**
**2021**
**£**
**3,377**
**809**
**4,186**
**-**
**6,048**
**6,048**
**(1,862)**
**2,160**
**(1,862)**
**298**|**Total**
**funds**
**2021**
**£**
**92,880**
**809**
**93,689**
**-**
**103,096**
**103,096**
**(9,407)**
**53,254**
**(9,407)**
**43,847**|_Total_
_funds_
_2020_
_£_
_115,379_
_-_|
|---|---|---|---|---|
|||||_115,379_|
|||||_6,245_
_74,116_|
|||||_80,361_|
|||||_35,018_|
|||||_18,236_
_35,018_|
|||||_53,254_|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 8 to 16 form part of these financial statements.
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DocuSign Envelope ID: 5688640D-37C5-42D1-BA21-0EA172067F48
## RUFF SQWAD ARTS FOUNDATION
## BALANCE SHEET AS AT 1 APRIL 2021
|**Note**
**Fixed assets**
Tangible assets
9
**Current assets**
Debtors
10
Cash at bank and in hand
Creditors: amounts falling due within one year
11
**Net current assets**
**Total assets less current liabilities**
**Total net assets**
**Charity funds**
Restricted funds
12
Unrestricted funds
12
**Total funds**
The financial statements were approved and authorised for
................................................
**Buba Sahor**
Date:
01-Feb-2022|**2021**
**£**
**9,637**
**9,637**
**250**
_-_
**35,810**
_52,627_
**36,060**
_52,627_
**(1,850)**
_(1,750)_
**43,847**
**43,847**
**43,847**
**43,549**
**298**
**43,847**
issue by the Trustees and signed on their behalf
................................................
**Ebenezer Ayerh**
31-Jan-2022|_2020_
_£_
_2,377_|
|---|---|---|
|||_2,377_
_53,254_|
|||_53,254_|
||||
|||_53,254_|
|||_51,094_
_2,160_|
||||
|||_53,254_|
|||by:|
The notes on pages 8 to 16 form part of these financial statements.
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DocuSign Envelope ID: 5688640D-37C5-42D1-BA21-0EA172067F48
## RUFF SQWAD ARTS FOUNDATION
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 APRIL 2021
## **1. General information**
Ruff Sqwad Arts Foundation is a Charitable incorporated Organisation. The address of its registered office can be found on page 1 of these financial statements.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The financial statements have been prepared under the histroical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Charities Act 2011.
Ruff Sqwad Arts Foundation consitutes a public benefit entity as defined by FRS 102.
Accruals accounting has been adopted for the year ended 01 April 2021, there has been no requirement to restate the comparitives.
## **2.2 Going concern**
The Coronavirus pandemic is creating significant uncertainty globally and the Charity is not immune to this. The trustees are working to ensure the safety of all those involved with it and to maintain the continuity of its activities as far as they are able, whilst adhering to Government advice. Whilst the pandemic will have a financial impact on the Charity, at this stage, it is not possible to reliably forecast what this may be. However, the trustees are taking all relevant measures to ensure they are able to safeguard cash flow and projects to put it in the best possible position once activities start to return to normal.
Given the uncertainties that exist, this may cast significant doubt on the Charity’s ability to continue as a going concern, however, the trustees believe that the actions they have taken should enable the Charity to continue in operational existence for at least twelve months following approval of these accounts.
## **2.3 Income**
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
## **2.4 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Support costs are those costs incurred directly in support of expenditure on the objects of the Charity and include project management carried out at Headquarters.
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DocuSign Envelope ID: 5688640D-37C5-42D1-BA21-0EA172067F48
## RUFF SQWAD ARTS FOUNDATION
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 APRIL 2021
## **2. Accounting policies (continued)**
## **2.4 Expenditure (continued)**
Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.
Charitable activities and Governance costs are costs incurred on the Charity's operations, including support costs and costs relating to the governance of the Charity apportioned to charitable activities.
## **2.5 Tangible fixed assets and depreciation**
All assets costing £200 are capitalised.
A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities.
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
- Office equipment 5 years straight line
## **2.6 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **2.7 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.
## **2.8 Financial instruments**
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
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DocuSign Envelope ID: 5688640D-37C5-42D1-BA21-0EA172067F48
## RUFF SQWAD ARTS FOUNDATION
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 APRIL 2021
## **2. Accounting policies (continued)**
## **2.9 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
## **3. Income from donations and legacies**
|Donations
Grants
Other Income
_Total 2020_|**Restricted**
**funds**
**2021**
**£**
-
89,503
-
89,503
_96,142_|**Unrestricted**
**funds**
**2021**
**£**
1,997
-
1,380
3,377
_19,237_|**Total**
**funds**
**2021**
**£**
**1,997**
**89,503**
**1,380**
**92,880**
_115,379_|_Total_
_funds_
_2020_
_£_
_1,737_
_113,642_
_-_|
|---|---|---|---|---|
|||||_115,379_|
||||||
## **4. Income from charitable activities**
||**Unrestricted**|**Total**|_Total_|
|---|---|---|---|
||**funds**|**funds**|_funds_|
||**2021**|**2021**|_2020_|
||**£**|**£**|_£_|
|Studio Hire|809|**809**|_-_|
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DocuSign Envelope ID: 5688640D-37C5-42D1-BA21-0EA172067F48
## RUFF SQWAD ARTS FOUNDATION
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 APRIL 2021
## **5. Expenditure on raising funds**
## **Fundraising trading expenses**
|Fundraising costs
_Total 2020_|**Unrestricted**
**funds**
**2021**
**£**
-
_6,245_|**Total**
**funds**
**2021**
**£**
**-**
_6,245_|_Total_
_funds_
_2020_
_£_
_6,245_|
|---|---|---|---|
|||||
## **6. Analysis of expenditure by activities**
|Delivery of workshops
_Total 2020_|**Activities**
**undertaken**
**directly**
**2021**
**£**
86,332
_63,990_|**Grant**
**funding of**
**activities**
**2021**
**£**
569
_-_|**Support**
**costs**
**2021**
**£**
16,195
_10,126_|**Total**
**funds**
**2021**
**£**
**103,096**
_74,116_|_Total_
_funds_
_2020_
_£_
_74,116_|
|---|---|---|---|---|---|
|||||||
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DocuSign Envelope ID: 5688640D-37C5-42D1-BA21-0EA172067F48
## RUFF SQWAD ARTS FOUNDATION
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 APRIL 2021
## **6. Analysis of expenditure by activities (continued)**
## **Analysis of direct costs**
|Organisational development
Marketing
Website Development
Travel
GP3 Advance
Grime Pays
YCHTB
Advanced Sessions
Film
Contractors - project specific
General project expenses
Strummer Sessions
Shoot
_Total 2020_|**Delivery of**
**workshops**
**2021**
**£**
19,933
-
-
-
-
43,120
-
-
-
1,995
16,824
-
4,460
86,332
_63,990_|**Total**
**funds**
**2021**
**£**
**19,933**
**-**
**-**
**-**
**-**
**43,120**
**-**
**-**
**-**
**1,995**
**16,824**
**-**
**4,460**
**86,332**
_63,990_|_Total_
_funds_
_2020_
_£_
_6,750_
_50_
_284_
_128_
_4,500_
_27,409_
_5,679_
_848_
_14,982_
_-_
_-_
_3,360_
_-_|
|---|---|---|---|
||||_63,990_|
|||||
## **Analysis of support costs**
|Rent
Bank Charges
Office Costs
Professional Fees
Depreciation
Marketing
General Expenses
Travel
_Total 2020_|**Delivery of**
**workshops**
**2021**
**£**
6,612
6
1,912
4,644
2,557
125
310
29
16,195
_10,126_|**Total**
**funds**
**2021**
**£**
**6,612**
**6**
**1,912**
**4,644**
**2,557**
**125**
**310**
**29**
**16,195**
_10,126_|_Total_
_funds_
_2020_
_£_
_6,535_
_8_
_756_
_1,750_
_594_
_-_
_483_
_-_|
|---|---|---|---|
||||_10,126_|
|||||
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DocuSign Envelope ID: 5688640D-37C5-42D1-BA21-0EA172067F48
## RUFF SQWAD ARTS FOUNDATION
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 APRIL 2021
## **7. Independent examiner's remuneration**
The independent examiner's remuneration amounts to an independent examiner fee of £800 ( _2020_ - _£750_ ), and preparation of accounts of £1,050 (2020 - £1,000).
## **8. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2020 - £NIL)_ .
During the year ended 1 April 2021, no Trustee expenses have been incurred _(2020 - £NIL)_ .
## **9. Tangible fixed assets**
|**Cost or valuation**
At 2 April 2020
Additions
At 1 April 2021
**Depreciation**
At 2 April 2020
Charge for the year
At 1 April 2021
**Net book value**
At 1 April 2021
_At 1 April 2020_|**Office**
**equipment**
**£**
**2,971**
**9,817**|
|---|---|
||**12,788**|
||**594**
**2,557**|
||**3,151**|
||**9,637**|
||_2,377_|
## **10. Debtors**
|**Due within one year**
Trade debtors|**2021**
**£**
**250**
**250**|_2020_
_£_
_-_
_-_|
|---|---|---|
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## RUFF SQWAD ARTS FOUNDATION
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 APRIL 2021
## **11. Creditors: Amounts falling due within one year**
|Accruals and deferred income
**12.**
**Statement of funds**|**2021**
**£**
**1,850**|_2020_
_£_
_1,750_|
|---|---|---|
||||
**Statement of funds - current year**
|**Unrestricted funds**
General Funds
**Restricted funds**
Restricted Fund
Elevate Restricted Fund
**Total of funds**|**Balance at 2**
**April 2020**
**£**
**2,160**
**8,306**
**42,788**
**51,094**
**53,254**|**Income**
**£**
**4,186**
**69,503**
**20,000**
**89,503**
**93,689**|**Expenditure**
**£**
**(6,048)**
**(62,975)**
**(34,073)**
**(97,048)**
**(103,096)**|**Balance at 1**
**April 2021**
**£**
**298**|
|---|---|---|---|---|
|||||**14,834**
**28,715**|
|||||**43,549**|
|||||**43,847**|
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## RUFF SQWAD ARTS FOUNDATION
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 APRIL 2021
## **12. Statement of funds (continued)**
## **Statement of funds - prior year**
|**Unrestricted funds**
General Funds - all funds
**Restricted funds**
Restricted Fund
Elevate Restricted Fund
**Total of funds**|_Balance at_
_2 April 2019_
_£_
_335_
_17,901_
_-_
_17,901_
_18,236_|_Income_
_£_
_19,237_
_46,142_
_50,000_
_96,142_
_115,379_|_Expenditure_
_£_
_(17,412)_
_(55,737)_
_(7,212)_
_(62,949)_
_(80,361)_|_Balance at_
_1 April 2020_
_£_
_2,160_|
|---|---|---|---|---|
|||||_8,306_
_42,788_|
|||||_51,094_|
|||||_53,254_|
Restricted funds have been donated for the purpose of funding the provision of work shops by the charity.
Elevate restricted funds have been provided for the purpose of the charity's organisational development.
## **13. Summary of funds**
## **Summary of funds - current year**
|General funds
Restricted funds
**Summary of funds - prior year**
General funds
Restricted funds|**Balance at 2**
**April 2020**
**£**
**2,160**
**51,094**
**53,254**
_Balance at_
_2 April 2019_
_£_
_335_
_17,901_
_18,236_|**Income**
**£**
**4,186**
**89,503**
**93,689**
_Income_
_£_
_19,237_
_96,142_
_115,379_|**Expenditure**
**£**
**(6,048)**
**(97,048)**
**(103,096)**
_Expenditure_
_£_
_(17,412)_
_(62,949)_
_(80,361)_|**Balance at 1**
**April 2021**
**£**
**298**
**43,549**|
|---|---|---|---|---|
|||||**43,847**|
|||||_Balance at_
_1 April 2020_
_£_
_2,160_
_51,094_|
|||||_53,254_|
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## RUFF SQWAD ARTS FOUNDATION
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 APRIL 2021
## **14. Related party transactions**
During the year, Ruff Sqwad Music Ltd received payments totalling £55,539 (2020: £24,830) from the charity for arm's length services. This company is a related party as it is controlled by a member of the key management personnel.
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**Ruff Sqwad Arts Foundation** Unit 11 Echo Building East Bay Lane E15 2SJ **Charity registered number:** 1173218 **Telephone:** 07703319202
_Janice Matthews Centrum House 36 Station Road Egham Surrey TW20 9LF_
Dear Sirs,
This representation letter is provided in connection with your independent examination of Ruff Sqwad Arts Foundation for the year ending 01 April 2021.
During the course of your examination of our financial statements for the period ending 01 April 2021 the following representations were made to you by management and trustees.
_Financial statements_
- 1 We have fulfilled our responsibilities as trustees under the Charities Act 2006 for preparing financial statements, in accordance with FRS 102 and Charity SORP 2019, that give a true and fair view and for making accurate representations to you as auditors.
- 2 We confirm that the charity is eligible for an independent examination of its financial statements, and that there are no circumstances which we should draw to your attention which would invalidate this eligibility
- 3 We confirm that significant assumptions used by us in making accounting estimates, including those measured at fair value, are reasonable.
- 4 We confirm that all events subsequent to the date of the financial statements and for which FRS 102 or the Charity SORP 2019 require adjustment or disclosure have been adjusted or disclosed.
- 5 We confirm that all related party relationships and transactions have been accounted for and disclosed in accordance with the Charity SORP 2019.
- 6 We confirm that we are not aware of any unadjusted errors that would require the accounts for the year to be amended.
- 7 We confirm that the charity has had, at no time during the year, any arrangement, transaction or agreement to provide credit facilities (including advances and credits granted by the charity) for trustees, nor to provide guarantees of any kind on behalf of the trustees, except as disclosed in the financial statements.
- 8 There are no liabilities, contingent liabilities or guarantees to third parties other than those disclosed in the financial statements.
- 9 We confirm that the charity has not contracted for any capital expenditure other than as disclosed in the financial statements.
- 10 We confirm that, having considered our expectations and intentions for the next twelve months following approval of these accounts, and taking into account the impact of the pandemic on
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income, and the availability of working capital, the charity is a going concern. We confirm that the disclosures in the financial statements are an accurate reflection of the reasons for our consideration that the financial statements should be drawn up on a going concern basis.
## _Information provided_
- 11 We confirm we have provided you with:
- Access to all information of which we are aware that is relevant to the preparation of the financial statements such as records, documentation and other matters;
- Additional information that you have requested from us for the purpose of the audit; and
- Unrestricted access to persons within the entity from whom you determined it necessary to obtain audit evidence.
- 12 All transactions have been recorded in the accounting records and are reflected in the financial statements.
- 13 All donations and other income, the receipt of which is subject to specific terms or conditions, have been notified to you. There have been no breaches of terms or conditions during the period in the application of such income.
- 14 We confirm that all known actual or possible litigation and claims whose effects should be considered when preparing the financial statements have been disclosed to the examiner and accounted for and disclosed in accordance with the applicable financial reporting framework.
- 15 We confirm that the related party relationships and transactions set out in the accounts are a complete list of such relationships and transactions and that we are not aware of any further related parties or transactions.
- 16 We confirm that we are not aware of any possible or actual instance of non-compliance with those laws and regulations which provide a legal framework within which the charity conducts its business and which are central to the charity's ability to conduct its business.
- 17 We acknowledge our responsibility for the design and implementation of controls to prevent and detect fraud. We have disclosed to you the results of our assessment of the risk that the financial statements may be materially misstated as a result of fraud.
- 18 We have reviewed the affairs of the charity and confirm that no income is subject to corporation tax. We have also reviewed the VAT treatment in relation to services provided by the charity and confirm that VAT has been correctly accounted for.
- 19 We have disclosed to you all information in relation to fraud or suspected fraud that we are aware of and that affects the entity and involves:
- Management;
- Those who have significant roles in internal control; or
- Others where the fraud could have a material effect on the financial statements.
- 20 We have disclosed to you all information in relation to allegations of fraud, or suspected fraud, affecting the entity’s financial statements communicated by staff, former staff, analysts, regulators or others.
- 21 We acknowledge our legal responsibilities regarding disclosure of information to you as examiners and confirm that:
- so far as each trustee is aware, there is no relevant information of which you as examiners are unaware; and
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- each trustee has taken all the steps that they ought to have taken as a trustee to make themselves aware of any relevant information and to establish that you are aware of that information.
Yours faithfully,
Signed on behalf of the board of trustees of Ruff Sqwad Arts Foundation by:
Trustee ...............................................................
01-Feb-2022
Date .....................................................................
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Menzies LLP Heathrow Centrum House 36 Station Road Egham Surrey TW20 9LF
+44 (0)1784 497100 | heathrow@menzies.co.uk | menzies.co.uk
JEM/CB/EJM/38242 31 January 2022
## **PRIVATE & CONFIDENTIAL**
The Board of Trustees Ruff Sqwad Arts Foundation Unit 11 Echo Building East Bay Lane London E15 2SJ
Dear Trustees
The purpose of this letter and Standard Terms of Business is to set out the basis on which we will act and to clarify our respective responsibilities. A separate letter will be issued to cover all other work to be undertaken.
Our firm will act as independent examiners with Janice Matthews acting as the independent examiner.
We are bound by the code of ethics of The Institute of Chartered Accountants in England and Wales and accept instructions to act for you on the basis that we will act in accordance with those ethical guidelines.
## **1 Your responsibilities as trustees**
- 1.1 Our independent examination will be conducted on the basis that you acknowledge and understand that you have responsibility:
- (a) To prepare financial statements for each financial year that give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources of the charitable company for that period. As directors/trustees you must not approve the financial statements unless you are satisfied that they give a true and fair view of the assets, liabilities, financial position and surplus or deficit of the charitable company.
- (b) In preparing those financial statements, to:
- (i) select suitable accounting policies and then apply them consistently;
- (ii) make judgments and accounting estimates that are reasonable and prudent; and
- (iii) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
- (c) For keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the SORP, the Companies Act 2006 (the Act) and applicable accounting standards. You are also responsible for such internal control as you determine is necessary to enable the preparation of financial statements that are free from material misstatement whether due to fraud or error.
- (d) For safeguarding the assets of the charitable company and hence for taking reasonable steps to ensure the charitable company’s activities are conducted honestly and for the prevention and detection of fraud and other irregularities.
- 1.2 As trustees of the charitable company, you have a duty under the Companies Act 2006 to prepare a directors’ report for each financial year and also an annual report complying in its form and content with regulations made under the Charities Act 2011. You are also required to have regard to the relevant Statement of Recommended Practice Accounting and Reporting by Charities, published jointly issued by the Charity Commissioners for England and Wales and the Office of the Scottish Charity Regulator, and any subsequent amendments or variations to this statement.
Menzies is a member of
Menzies LLP is a limited liability partnership registered in England and Wales under number 0C336077 to carry out audit work and is regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales. Menzies Corporate Finance Limited is regulated by the Financial Conduct Authority for the conduct of corporate finance activities and is registered in England and Wales under number 04149097. Their registered office is at 1st Floor, Midas House, 62 Goldsworth Road, Woking, Surrey GU21 6LQ. A list of the members of Menzies LLP is open to inspection at its registered office. Any reference to a partner in relation to Menzies LLP means a member of Menzies LLP. Individuals within the firm who act as insolvency practitioners are licensed in the UK by the Insolvency Practitioners Association. When acting as office holders they do so without personal liability. Our Privacy Notice and Standard Terms of Business are available at **www.menzies.co.uk/legal** .
A world-wide network of independent accounting firms and business advisers
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- 1.3 In addition to the general duties of directors specified in s. 170 to 177 of the Act you are responsible for ensuring that the charitable company complies with laws and regulations applicable to its activities, and for establishing arrangements designed to prevent any non-compliance with laws and regulations and to detect any that occur.
- 1.4 You are also responsible for determining whether, in respect of the year, the charity meets the conditions for exemption from an audit set out in the Charities Act 2011 and the Companies Act 2006, namely that:
- (a) no notice has been received from the Charity Commission requiring an audit;
- (b) no notice has been received from the members requiring an audit;
- (c) the charity’s gross income in the current year is not more than £500,000 in the current year for years ending before 31 March 2015, or £1m for years ending on or after this date;
- (d) the charity’s gross assets do not exceed £3.26m; or where they exceed £3.26m, gross income is less than £250,000; and
- (e) the charity is not ineligible for audit exemption under the Companies Act 2006.
- 1.5 The exemption from audit is available only if you, as director/trustees, sign a declaration on the balance sheet stating that:
- (a) for the year in question, the company is eligible to take advantage of the audit exemptions;
- (b) the members have not required the company to obtain an audit of its financial statements for the year in accordance with section 476 of the Companies Act 2006; and
- (c) you acknowledge your obligations for complying with the requirements of the Act with respect to accounting records and preparation of accounts.
- 1.6 The availability of the exemption from an audit of the financial statements is conditional upon your causing an independent examiners’ report to be prepared in respect of the financial statements in accordance with section 145 of the Charities Act 2011. You are responsible for deciding whether that report shall be made and for appointing us as reporting accountants to make that report to the trustees of the charity.
- 1.7 If gross income falls to £25,000 or less for the year, then, provided the other criteria set out above are met, you will need neither an audit nor an independent examiner’s report.
- 1.8 You have undertaken to make available to us, as and when required, all the charity’s accounting records and related financial information, including minutes of management and members’ meetings, necessary to carry out our work. You will make full disclosure to us of all relevant information.
## **2 Our responsibilities as independent examiners**
- 2.1 We shall plan our work on the basis that an independent examiner’s report is required for the year, unless you inform us in writing that either:
- (a) the charity requires an audit of the financial statements; or
- (b) the charity requires neither an audit nor an independent examiner’s report.
- 2.2 Should you instruct us to carry out an audit, then the terms of that assignment will be dealt with in a new engagement letter. Should you inform us that the charity requires neither an audit nor an independent examiner’s report, then we shall have no responsibilities to the charity, except those specifically agreed upon between us in respect of other professional services.
- 2.3 As independent examiners, we have a statutory responsibility to report to the members of the charity whether, in our opinion, there is reasonable cause to believe that, in any material respect:
- (a) adequate accounting records have not been kept, contrary to the requirements of the Companies Act 2006;
- (b) the financial statements do not agree with those accounting records; or
- (c) the financial statements do not comply with any of the accounting requirements specified in regulation 4 (or 5 for common investment funds or common deposit funds)* of the Charities (Accounts and Reports) Regulations 2008 and applicable accounting standards, except to the extent necessary to show a true and fair view.
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- 3 -
- 2.4 Should our work indicate that the charity is not entitled to exemption from an audit of the financial statements, then we will inform you. In such circumstances, we will not issue any report and will withdraw from the engagement to prepare an independent examiner’s report, notifying you in writing of the reasons. In these circumstances, if appropriate, we will discuss with you the possibility of appointing us as auditors.
- 2.5 We have a professional responsibility not to allow our name to be associated with financial statements that are, or may be, misleading. Therefore, although we are not required to search for such matters, should we become aware, for any reason, that the financial statements are, or may be, misleading; if the matter cannot be adequately dealt with by means of qualifying our opinion (or by other appropriate modifications of the report), we will not issue any report. In such circumstances, we will withdraw from the engagement, and will notify you in writing of the reasons. In these circumstances you agree that we have a right to invoice you for our time spent examining the accounts and for the time spent on any other work that is not completed as a result of our resignation.
- 2.6 Under section 156(2) of the Charities Act 2011 we have a statutory duty to make a written report to the Charity Commission on such matters (which relates to the activities or affairs of the charity or of any connected institution or body) of which we become aware during the course of our examination and which we have reasonable cause to believe is likely to be of material significance for the purposes of the exercise by the Commission of its functions under section 156(3) of the Charities Act 2011. In addition under section 156(4) if we become aware of any matter which does not require to be reported under section 156(2) but which we have reasonable cause to believe is likely to be relevant for the purposes of the exercise by the Charity Commission of any of its functions then we may make a report on the matter to the Commission. We may have to make this report without your knowledge and consent and we cannot undertake to you to fetter this discretion in any manner.
## **3 Scope of independent examination**
- 3.1 Our work as independent examiners will be carried out in accordance with guidance for such engagements issued by the Charity Commission. It will consist of comparing the financial statements with the accounting records kept by the charity, and making such limited enquiries of the trustees and staff of the charity as we may consider necessary for the purpose of our report.
- 3.2 As part of our normal procedures, we may request you to provide written confirmation of any information or explanations provided by you orally during the course of our work.
- 3.3 Our work as reporting accountants will not be an audit of the financial statements in accordance with International Standards of Auditing (UK). Accordingly, we will not obtain any independent evidence relating to entries in the accounting records, or to the amounts or disclosures in the financial statements. Consequently our work as reporting accountants will not provide any assurance that the accounting records or the financial statements are free from material misstatement whether caused by fraud, other irregularity or error.
- 3.4 Because we will not carry out an audit, nor otherwise confirm the accuracy or reasonableness of the accounting records maintained by the charity, we will be unable to provide any assurance as to whether the financial statements that we prepare from those records give a true and fair view.
## **4 Other services**
- 4.1 We also agree to advise on other taxation and accountancy matters, as requested by you from time to time, and to undertake work in respect of these, as required. This work will incur charges based on the time involved and complexity of the work undertaken.
## **5 Limitation of liability**
- 5.1 We wish to advise you the extent of our liability to you in respect of the professional services described within this engagement letter (the professional services).
- 5.2 Having considered both your circumstances and our own, we consider that £50,000 represents a fair maximum limit to our liability as a firm in the event of any one claim arising in respect of the professional services. This maximum total liability includes any claims for loss or damage, however caused, whether in respect of breaches of contract, tort (including negligence) or otherwise in respect of the professional services and shall also include all other related costs including legal fees, interest, etc.
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- 4 -
- 5.3 We acknowledge that the limit in respect of our total aggregate liability will not apply to any acts, omissions or representations that are in any way criminal, dishonest or fraudulent on the part of the firm, its partners/directors/members or employees.
## **6 Agreement of terms**
- 6.1 This engagement will start with your accounts for the period ending on 01 April 2021.
- 6.2 We will be responsible for earlier years as appropriate.
- 6.3 This letter supersedes any previous engagement letter for the period covered. The terms set out in this letter and Standard Terms of Business (last revised 15 November 2021) shall take effect immediately upon your countersigning this letter and returning it to us. If we are instructed to start work before receiving a signed copy of this letter we will treat that as acceptance of the full terms of this engagement letter, unless we hear from you to the contrary within 30 days of you giving that instruction.
- 6.4 You or we may agree to vary or terminate our authority to act on your behalf at any time without penalty. Notice of variation or termination must be given in writing.
- 6.5 Once it has been agreed, this letter and Standard Terms of Business will remain effective until they are replaced. We shall be grateful if you could confirm your agreement to these terms by signing the enclosed copy of this letter and returning it to us immediately. If this letter and terms of business are not in accordance with your understanding of our terms of appointment, please let us know.
- 6.6 Our Privacy Notice forms part of this engagement letter and sets out the subject matter and duration of the processing, the nature and purpose of the processing, the type of personal data and the categories of data subjects.
- 6.7 We may update our Privacy Notice and Standard Terms of Business from time to time without notice. The current version is available on our website www.menzies.co.uk/legal. Please advise us if you require a hard copy to be mailed to you.
Yours faithfully
## **Menzies LLP**
We confirm that we have read and understood the contents of this letter and Standard Terms of Business dated 15 November 2021 and agree that they accurately reflect the services that we have instructed you to provide.
01-Feb-2022 Signed ____________________________________ Date ________________ 31-Jan-2022 Signed ____________________________________ Date ________________
## **For and on behalf of Ruff Sqwad Arts Foundation**
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Charity number: 1173218
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 APRIL 2021
RUFF SQWAD ARTS FOUNDATION
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## RUFF SQWAD ARTS FOUNDATION
## CONTENTS
||Page|
|---|---|
|**Reference and administrative details of the Charity, its Trustees and advisers**|1|
|**Trustees' report**|2 - 4|
|**Independent examiner's report**|5|
|**Statement of financial activities**|6|
|**Balance sheet**|7|
|**Notes to the financial statements**|8 - 16|
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## RUFF SQWAD ARTS FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 1 APRIL 2021
## **Trustees**
Buba Sahor, Chair Derek Boakye, Trustee Anton Chambers, Trustee
**Charity registered number** 1173218 **Principal office** Unit 11 Echo Building East Bay Lane London E15 2SJ **Accountants** Menzies LLP Chartered Accountants Centrum House 36 Station Road Egham Surrey TW20 9LF **Independent Examiner** Janice Matthews FCA Menzies LLP Centrum House 36 Station Road Egham Surrey TW20 9LF
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## RUFF SQWAD ARTS FOUNDATION
## TRUSTEES' REPORT FOR THE YEAR ENDED 1 APRIL 2021
The Trustees present their annual report together with the financial statements of the for the year 2 April 2020 to 1 April 2021.
## **Objectives and activities**
## **a. Policies and objectives**
The objects of Ruff Sqwad Arts Foundation, as set out in our governing document are:
To act as a resource for young people and young adults by providing advice and assistance and organising programmes of physical, educational, high quality arts and other activities as a means of:
(a) advancing in life and helping young people and young adults by developing their skills, capacities and capabilities to enable them to participate in society as independent, mature and responsible individuals;
(b) advancing education;
## (c) relieving unemployment;
(d) providing recreational and leisure time activity in the interests of social welfare for people living in the area of benefit who have need by reason of their youth, age, infirmity or disability, poverty or social and economic circumstances with a view to improving the conditions of life of such persons.
## **b. Activities undertaken to achieve objectives**
In 2017, grime legends Prince Owusu-Agyekum (aka Rapid) and Ebenezer Ayerh (aka Slix) founded Ruff Sqwad Arts Foundation (RSAF) to give young people direct access to mainstream resources, knowledge, and opportunities to reach their full potential in creative careers and life.
Through our innovative way of working, we create meaningful cultural engagement opportunities by integrating high quality arts, youthwork, industry connections and enterprise. We were previously based in RebBox Studios in Poplar, East London but have since moved so we’re now based in Hackney Bridge which is a new site in Newham with many thriving creatives, charities, organisations, companies and brands like the Good Growth Hub, The Outrunners, Borkwood & Co, Discordo and Wicked Bike Repair. Moving into the Hackney Bridge community has really heled inspire and motivate our young people and helped further strengthen our profile and partnerships. As a result of this we’ve continues to develop, expand and evolve our range of cross cultural/creative and cross sector offering which a huge emphasis on creating and delivering projects for youth ages 11-21+ to support personal and talent development.
## **Current Programming**
**Fading Short Film Complete:** In May 2020 we completed our first short film ‘Fading’ which was written and performed by the young people. The film touched on issues such as identity, teen related pressures, youth and women empowerment and self-image. We were scheduled to get the film entered into the Cannes film festival and if successful take the cast of young people to a viewing but due to the pandemic we were unable to fulfil this ambition.
**YCHTB Summer Sessions:** Following the success of the 2019 summer session that were funded by Joe Strummer we received some funding from once again from the Joe Strummer foundation to run sessions for Artist, Sound Engineer, Producer and Talent Development. This for our young people was an amazing opportunity especially being that it was during the summer, a time when many young people lack activities to engage in we had good attendance levels.
**Serious Sessions/online mentoring:** These studio sessions were very useful in providing consistent space and opportunities during the simmer as it ran concurrently with the Summer Session. We had a great attendance level even though we had to run a reduced service due to the covid related restrictions outlined by the NYA. These sessions were funded by the SESF and enabled us to implement at peer 2 peer mentoring system online/remotely to the project which was very impactful as we had young creatives gaining mentorship from young that were a few years older than them.
**Discuss and Devour Piloted:** As part of our efforts to meet the creative demands of the oyuht and expand our offering we piloted our first podcast in April 2021. The Discuss and Devour podcast series is a youth-led initiative for young people aged 11-21. It provides a platform to voice opinions on a range of topics and issues to become agents of positive social change by bridging the gap between different cultures and promoting intercultural understanding. These pilot episodes were later on
Page 2
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## RUFF SQWAD ARTS FOUNDATION
## TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 1 APRIL 2021
## **Objectives and activities (continued)**
reviewed and premiered to various young people and the parents of the cast who all feedback the great potential and need of intuitive.
**Mayor’s Fund for London Ambassadors –** Prince and Ebs are Ambassadors for the Mayor’s Fund for London, which aims to support young Londoners from low income backgrounds to aspire to fulfil their potential through education, well-being and employment programmes. https://www.mayorsfundforlondon.org.uk/
Prince and Ebs are both original members of the talented and innovative East London collective group Ruff Sqwad, who are now in the pioneering movement to shift grime music mainstream.
As teenagers in East London, Ruff Sqwad were passionate about making music and started off testing out and developing their skills in youth club. This led to pirate radio sessions where they gained a large and loyal following, but they knew they needed solid material in the form of independent albums to get to the next level. It was Wiley who came to them when he saw them on the streets with no money, no studio, no place, and it was Grime Icon Wiley who asked what they needed. He booked out a big studio in south London and Ruff Sqwad were there 4-5 days a week recording, recording, recording. Their first ever mix tapes “Guns and Roses 1 & 2” are now seen as classics. It is this way of working and Prince and Ebs’ journeys that have inspired them to develop RSAF.
Since 2014, Prince and Ebs have been working at Spotlight in Tower Hamlets, delivering regular music sessions You Can’t Handle The Booth (YCHTB) with a core group of 30-35 young people aged 11-19 mainly from Hackney, Newham and Tower Hamlets. Prince and Ebs wanted to do more for the young people, and decided it was time to design and deliver their own programmes. Ebs and Prince started RSAF so they can work with more young people and support them in a way that would have more sustainable impact on them, their communities, and the cultural/creative sector.
In January 2020 we were delighted to be awarded £100,000 through the Arts Council England’s Elevate Fund which will support our organisation development through to April 2022. Activities include supporting the core team (Ebenezer and Prince, Founders and Creative Leads, and Sian, Key Collaborator on Development, Partnerships and Social Change) and partners, in strengthening RASF’s financial resilience, digital infrastructure, delivery mechanisms and business model to better connect young people with mainstream resources, knowledge and opportunities to reach their full potential in creative careers and life.
Now well into our Elevate funding support we’re now actively connecting with various organisations and individuals that can help us the things to the next level and we shall be looking at more tangible ways to utilise our ambassadorships to impact more young people and communities in neighbouring boroughs.
In approving the RSAF programming, the Trustees have had regard to the guidance issued by the Charity Commission on public benefit.
## **Achievements and performance**
## **a. Key performance indicators**
We have started implementing ways to build our reserves but currently don’t have the level of sustainable reserves as we desire but as we are still relatively young organisation that like many was impacted by the pandemic we’re still developing ways to develop things adequately. One of our main goals is still to invest in our core team and build reserves to 6 month running costs as part of our business planning, income generation and fundraising activities.
Page 3
DocuSign Envelope ID: 5688640D-37C5-42D1-BA21-0EA172067F48
## RUFF SQWAD ARTS FOUNDATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 1 APRIL 2021
## **Financial review**
## **a. Going concern**
The Coronavirus pandemic is creating significant uncertainty at the current time and the Charity is not immune to this. The trustees are working to ensure the safety of all those involved with Ruff Sqwad Arts Foundation and to maintain the continuity of its activities and to adhere to Government advice. Whilst the pandemic will have a financial impact on the Charity, at this stage, it is not possible to reliably forecast what this may be. After making appropriate enquiries, however, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the next twelve months. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
## **Structure, governance and management**
## **a. Constitution**
Ruff Sqwad Arts Foundation (RSAF) has a Constitution of a Charitable Incorporated Organisation and is registered with the Charity Commission. The principal object of the Charity is to act as a resource for young people and young adults by providing advice and assistance and organising programmes of physical, educational, high quality arts and other activities.
## **b. Methods of appointment or election of Trustees**
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
## **Statement of Trustees' responsibilities**
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................ **Buba Shor** Trustee (Chair)
Date: 01-Feb-2022
................................................ **Ebenezer Ayerh** Co-founder 31-Jan-2022
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DocuSign Envelope ID: 5688640D-37C5-42D1-BA21-0EA172067F48
## RUFF SQWAD ARTS FOUNDATION
## INDEPENDENT EXAMINERS' REPORT TO RUFF SQWAD ARTS FOUNDATION
## **Independent examiner's report to the Trustees of Ruff Sqwad Arts Foundation ('the Charity')**
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 1 April 2021.
## **Responsibilities and basis of report**
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no 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 Charity as required by section 130 of the 2011 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.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Janice Matthews FCA
Dated: 01-Feb-2022
## **Menzies LLP**
Centrum House 36 Station Road Egham Surrey TW20 9LF
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DocuSign Envelope ID: 5688640D-37C5-42D1-BA21-0EA172067F48
## RUFF SQWAD ARTS FOUNDATION
## STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 1 APRIL 2021
|**Note**
**Income from:**
Donations and legacies
3
Charitable activities
4
**Total income**
**Expenditure on:**
Raising funds
5
Charitable activities
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Restricted**
**funds**
**2021**
**£**
**89,503**
**-**
**89,503**
**-**
**97,048**
**97,048**
**(7,545)**
**51,094**
**(7,545)**
**43,549**|**Unrestricted**
**funds**
**2021**
**£**
**3,377**
**809**
**4,186**
**-**
**6,048**
**6,048**
**(1,862)**
**2,160**
**(1,862)**
**298**|**Total**
**funds**
**2021**
**£**
**92,880**
**809**
**93,689**
**-**
**103,096**
**103,096**
**(9,407)**
**53,254**
**(9,407)**
**43,847**|_Total_
_funds_
_2020_
_£_
_115,379_
_-_|
|---|---|---|---|---|
|||||_115,379_|
|||||_6,245_
_74,116_|
|||||_80,361_|
|||||_35,018_|
|||||_18,236_
_35,018_|
|||||_53,254_|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 8 to 16 form part of these financial statements.
Page 6
DocuSign Envelope ID: 5688640D-37C5-42D1-BA21-0EA172067F48
## RUFF SQWAD ARTS FOUNDATION
## BALANCE SHEET AS AT 1 APRIL 2021
|**Note**
**Fixed assets**
Tangible assets
9
**Current assets**
Debtors
10
Cash at bank and in hand
Creditors: amounts falling due within one year
11
**Net current assets**
**Total assets less current liabilities**
**Total net assets**
**Charity funds**
Restricted funds
12
Unrestricted funds
12
**Total funds**
The financial statements were approved and authorised for
................................................
**Buba Sahor**
Date:
01-Feb-2022|**2021**
**£**
**9,637**
**9,637**
**250**
_-_
**35,810**
_52,627_
**36,060**
_52,627_
**(1,850)**
_(1,750)_
**43,847**
**43,847**
**43,847**
**43,549**
**298**
**43,847**
issue by the Trustees and signed on their behalf
................................................
**Ebenezer Ayerh**
31-Jan-2022|_2020_
_£_
_2,377_|
|---|---|---|
|||_2,377_
_53,254_|
|||_53,254_|
||||
|||_53,254_|
|||_51,094_
_2,160_|
||||
|||_53,254_|
|||by:|
The notes on pages 8 to 16 form part of these financial statements.
Page 7
DocuSign Envelope ID: 5688640D-37C5-42D1-BA21-0EA172067F48
## RUFF SQWAD ARTS FOUNDATION
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 APRIL 2021
## **1. General information**
Ruff Sqwad Arts Foundation is a Charitable incorporated Organisation. The address of its registered office can be found on page 1 of these financial statements.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The financial statements have been prepared under the histroical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Charities Act 2011.
Ruff Sqwad Arts Foundation consitutes a public benefit entity as defined by FRS 102.
Accruals accounting has been adopted for the year ended 01 April 2021, there has been no requirement to restate the comparitives.
## **2.2 Going concern**
The Coronavirus pandemic is creating significant uncertainty globally and the Charity is not immune to this. The trustees are working to ensure the safety of all those involved with it and to maintain the continuity of its activities as far as they are able, whilst adhering to Government advice. Whilst the pandemic will have a financial impact on the Charity, at this stage, it is not possible to reliably forecast what this may be. However, the trustees are taking all relevant measures to ensure they are able to safeguard cash flow and projects to put it in the best possible position once activities start to return to normal.
Given the uncertainties that exist, this may cast significant doubt on the Charity’s ability to continue as a going concern, however, the trustees believe that the actions they have taken should enable the Charity to continue in operational existence for at least twelve months following approval of these accounts.
## **2.3 Income**
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
## **2.4 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Support costs are those costs incurred directly in support of expenditure on the objects of the Charity and include project management carried out at Headquarters.
Page 8
DocuSign Envelope ID: 5688640D-37C5-42D1-BA21-0EA172067F48
## RUFF SQWAD ARTS FOUNDATION
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 APRIL 2021
## **2. Accounting policies (continued)**
## **2.4 Expenditure (continued)**
Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.
Charitable activities and Governance costs are costs incurred on the Charity's operations, including support costs and costs relating to the governance of the Charity apportioned to charitable activities.
## **2.5 Tangible fixed assets and depreciation**
All assets costing £200 are capitalised.
A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities.
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
- Office equipment 5 years straight line
## **2.6 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **2.7 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.
## **2.8 Financial instruments**
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Page 9
DocuSign Envelope ID: 5688640D-37C5-42D1-BA21-0EA172067F48
## RUFF SQWAD ARTS FOUNDATION
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 APRIL 2021
## **2. Accounting policies (continued)**
## **2.9 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
## **3. Income from donations and legacies**
|Donations
Grants
Other Income
_Total 2020_|**Restricted**
**funds**
**2021**
**£**
-
89,503
-
89,503
_96,142_|**Unrestricted**
**funds**
**2021**
**£**
1,997
-
1,380
3,377
_19,237_|**Total**
**funds**
**2021**
**£**
**1,997**
**89,503**
**1,380**
**92,880**
_115,379_|_Total_
_funds_
_2020_
_£_
_1,737_
_113,642_
_-_|
|---|---|---|---|---|
|||||_115,379_|
||||||
## **4. Income from charitable activities**
||**Unrestricted**|**Total**|_Total_|
|---|---|---|---|
||**funds**|**funds**|_funds_|
||**2021**|**2021**|_2020_|
||**£**|**£**|_£_|
|Studio Hire|809|**809**|_-_|
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DocuSign Envelope ID: 5688640D-37C5-42D1-BA21-0EA172067F48
## RUFF SQWAD ARTS FOUNDATION
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 APRIL 2021
## **5. Expenditure on raising funds**
## **Fundraising trading expenses**
|Fundraising costs
_Total 2020_|**Unrestricted**
**funds**
**2021**
**£**
-
_6,245_|**Total**
**funds**
**2021**
**£**
**-**
_6,245_|_Total_
_funds_
_2020_
_£_
_6,245_|
|---|---|---|---|
|||||
## **6. Analysis of expenditure by activities**
|Delivery of workshops
_Total 2020_|**Activities**
**undertaken**
**directly**
**2021**
**£**
86,332
_63,990_|**Grant**
**funding of**
**activities**
**2021**
**£**
569
_-_|**Support**
**costs**
**2021**
**£**
16,195
_10,126_|**Total**
**funds**
**2021**
**£**
**103,096**
_74,116_|_Total_
_funds_
_2020_
_£_
_74,116_|
|---|---|---|---|---|---|
|||||||
Page 11
DocuSign Envelope ID: 5688640D-37C5-42D1-BA21-0EA172067F48
## RUFF SQWAD ARTS FOUNDATION
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 APRIL 2021
## **6. Analysis of expenditure by activities (continued)**
## **Analysis of direct costs**
|Organisational development
Marketing
Website Development
Travel
GP3 Advance
Grime Pays
YCHTB
Advanced Sessions
Film
Contractors - project specific
General project expenses
Strummer Sessions
Shoot
_Total 2020_|**Delivery of**
**workshops**
**2021**
**£**
19,933
-
-
-
-
43,120
-
-
-
1,995
16,824
-
4,460
86,332
_63,990_|**Total**
**funds**
**2021**
**£**
**19,933**
**-**
**-**
**-**
**-**
**43,120**
**-**
**-**
**-**
**1,995**
**16,824**
**-**
**4,460**
**86,332**
_63,990_|_Total_
_funds_
_2020_
_£_
_6,750_
_50_
_284_
_128_
_4,500_
_27,409_
_5,679_
_848_
_14,982_
_-_
_-_
_3,360_
_-_|
|---|---|---|---|
||||_63,990_|
|||||
## **Analysis of support costs**
|Rent
Bank Charges
Office Costs
Professional Fees
Depreciation
Marketing
General Expenses
Travel
_Total 2020_|**Delivery of**
**workshops**
**2021**
**£**
6,612
6
1,912
4,644
2,557
125
310
29
16,195
_10,126_|**Total**
**funds**
**2021**
**£**
**6,612**
**6**
**1,912**
**4,644**
**2,557**
**125**
**310**
**29**
**16,195**
_10,126_|_Total_
_funds_
_2020_
_£_
_6,535_
_8_
_756_
_1,750_
_594_
_-_
_483_
_-_|
|---|---|---|---|
||||_10,126_|
|||||
Page 12
DocuSign Envelope ID: 5688640D-37C5-42D1-BA21-0EA172067F48
## RUFF SQWAD ARTS FOUNDATION
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 APRIL 2021
## **7. Independent examiner's remuneration**
The independent examiner's remuneration amounts to an independent examiner fee of £800 ( _2020_ - _£750_ ), and preparation of accounts of £1,050 (2020 - £1,000).
## **8. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2020 - £NIL)_ .
During the year ended 1 April 2021, no Trustee expenses have been incurred _(2020 - £NIL)_ .
## **9. Tangible fixed assets**
|**Cost or valuation**
At 2 April 2020
Additions
At 1 April 2021
**Depreciation**
At 2 April 2020
Charge for the year
At 1 April 2021
**Net book value**
At 1 April 2021
_At 1 April 2020_|**Office**
**equipment**
**£**
**2,971**
**9,817**|
|---|---|
||**12,788**|
||**594**
**2,557**|
||**3,151**|
||**9,637**|
||_2,377_|
## **10. Debtors**
|**Due within one year**
Trade debtors|**2021**
**£**
**250**
**250**|_2020_
_£_
_-_
_-_|
|---|---|---|
Page 13
DocuSign Envelope ID: 5688640D-37C5-42D1-BA21-0EA172067F48
## RUFF SQWAD ARTS FOUNDATION
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 APRIL 2021
## **11. Creditors: Amounts falling due within one year**
|Accruals and deferred income
**12.**
**Statement of funds**|**2021**
**£**
**1,850**|_2020_
_£_
_1,750_|
|---|---|---|
||||
**Statement of funds - current year**
|**Unrestricted funds**
General Funds
**Restricted funds**
Restricted Fund
Elevate Restricted Fund
**Total of funds**|**Balance at 2**
**April 2020**
**£**
**2,160**
**8,306**
**42,788**
**51,094**
**53,254**|**Income**
**£**
**4,186**
**69,503**
**20,000**
**89,503**
**93,689**|**Expenditure**
**£**
**(6,048)**
**(62,975)**
**(34,073)**
**(97,048)**
**(103,096)**|**Balance at 1**
**April 2021**
**£**
**298**|
|---|---|---|---|---|
|||||**14,834**
**28,715**|
|||||**43,549**|
|||||**43,847**|
Page 14
DocuSign Envelope ID: 5688640D-37C5-42D1-BA21-0EA172067F48
## RUFF SQWAD ARTS FOUNDATION
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 APRIL 2021
## **12. Statement of funds (continued)**
## **Statement of funds - prior year**
|**Unrestricted funds**
General Funds - all funds
**Restricted funds**
Restricted Fund
Elevate Restricted Fund
**Total of funds**|_Balance at_
_2 April 2019_
_£_
_335_
_17,901_
_-_
_17,901_
_18,236_|_Income_
_£_
_19,237_
_46,142_
_50,000_
_96,142_
_115,379_|_Expenditure_
_£_
_(17,412)_
_(55,737)_
_(7,212)_
_(62,949)_
_(80,361)_|_Balance at_
_1 April 2020_
_£_
_2,160_|
|---|---|---|---|---|
|||||_8,306_
_42,788_|
|||||_51,094_|
|||||_53,254_|
Restricted funds have been donated for the purpose of funding the provision of work shops by the charity.
Elevate restricted funds have been provided for the purpose of the charity's organisational development.
## **13. Summary of funds**
## **Summary of funds - current year**
|General funds
Restricted funds
**Summary of funds - prior year**
General funds
Restricted funds|**Balance at 2**
**April 2020**
**£**
**2,160**
**51,094**
**53,254**
_Balance at_
_2 April 2019_
_£_
_335_
_17,901_
_18,236_|**Income**
**£**
**4,186**
**89,503**
**93,689**
_Income_
_£_
_19,237_
_96,142_
_115,379_|**Expenditure**
**£**
**(6,048)**
**(97,048)**
**(103,096)**
_Expenditure_
_£_
_(17,412)_
_(62,949)_
_(80,361)_|**Balance at 1**
**April 2021**
**£**
**298**
**43,549**|
|---|---|---|---|---|
|||||**43,847**|
|||||_Balance at_
_1 April 2020_
_£_
_2,160_
_51,094_|
|||||_53,254_|
Page 15
DocuSign Envelope ID: 5688640D-37C5-42D1-BA21-0EA172067F48
## RUFF SQWAD ARTS FOUNDATION
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 APRIL 2021
## **14. Related party transactions**
During the year, Ruff Sqwad Music Ltd received payments totalling £55,539 (2020: £24,830) from the charity for arm's length services. This company is a related party as it is controlled by a member of the key management personnel.
Page 16
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Menzies LLP Heathrow Centrum House 36 Station Road Egham Surrey TW20 9LF
+44 (0)1784 497100 | heathrow@menzies.co.uk | menzies.co.uk
JEM/CB/EJM/38242 31 January 2022
## **PRIVATE & CONFIDENTIAL**
The Board of Trustees Ruff Sqwad Arts Foundation Unit 11 Echo Building East Bay Lane London E15 2SJ
Dear Trustees
The purpose of this letter and Standard Terms of Business is to set out the basis on which we will act and to clarify our respective responsibilities. A separate letter will be issued to cover all other work to be undertaken.
Our firm will act as independent examiners with Janice Matthews acting as the independent examiner.
We are bound by the code of ethics of The Institute of Chartered Accountants in England and Wales and accept instructions to act for you on the basis that we will act in accordance with those ethical guidelines.
## **1 Your responsibilities as trustees**
- 1.1 Our independent examination will be conducted on the basis that you acknowledge and understand that you have responsibility:
- (a) To prepare financial statements for each financial year that give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources of the charitable company for that period. As directors/trustees you must not approve the financial statements unless you are satisfied that they give a true and fair view of the assets, liabilities, financial position and surplus or deficit of the charitable company.
- (b) In preparing those financial statements, to:
- (i) select suitable accounting policies and then apply them consistently;
- (ii) make judgments and accounting estimates that are reasonable and prudent; and
- (iii) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
- (c) For keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the SORP, the Companies Act 2006 (the Act) and applicable accounting standards. You are also responsible for such internal control as you determine is necessary to enable the preparation of financial statements that are free from material misstatement whether due to fraud or error.
- (d) For safeguarding the assets of the charitable company and hence for taking reasonable steps to ensure the charitable company’s activities are conducted honestly and for the prevention and detection of fraud and other irregularities.
- 1.2 As trustees of the charitable company, you have a duty under the Companies Act 2006 to prepare a directors’ report for each financial year and also an annual report complying in its form and content with regulations made under the Charities Act 2011. You are also required to have regard to the relevant Statement of Recommended Practice Accounting and Reporting by Charities, published jointly issued by the Charity Commissioners for England and Wales and the Office of the Scottish Charity Regulator, and any subsequent amendments or variations to this statement.
Menzies is a member of
Menzies LLP is a limited liability partnership registered in England and Wales under number 0C336077 to carry out audit work and is regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales. Menzies Corporate Finance Limited is regulated by the Financial Conduct Authority for the conduct of corporate finance activities and is registered in England and Wales under number 04149097. Their registered office is at 1st Floor, Midas House, 62 Goldsworth Road, Woking, Surrey GU21 6LQ. A list of the members of Menzies LLP is open to inspection at its registered office. Any reference to a partner in relation to Menzies LLP means a member of Menzies LLP. Individuals within the firm who act as insolvency practitioners are licensed in the UK by the Insolvency Practitioners Association. When acting as office holders they do so without personal liability. Our Privacy Notice and Standard Terms of Business are available at **www.menzies.co.uk/legal** .
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- 1.3 In addition to the general duties of directors specified in s. 170 to 177 of the Act you are responsible for ensuring that the charitable company complies with laws and regulations applicable to its activities, and for establishing arrangements designed to prevent any non-compliance with laws and regulations and to detect any that occur.
- 1.4 You are also responsible for determining whether, in respect of the year, the charity meets the conditions for exemption from an audit set out in the Charities Act 2011 and the Companies Act 2006, namely that:
- (a) no notice has been received from the Charity Commission requiring an audit;
- (b) no notice has been received from the members requiring an audit;
- (c) the charity’s gross income in the current year is not more than £500,000 in the current year for years ending before 31 March 2015, or £1m for years ending on or after this date;
- (d) the charity’s gross assets do not exceed £3.26m; or where they exceed £3.26m, gross income is less than £250,000; and
- (e) the charity is not ineligible for audit exemption under the Companies Act 2006.
- 1.5 The exemption from audit is available only if you, as director/trustees, sign a declaration on the balance sheet stating that:
- (a) for the year in question, the company is eligible to take advantage of the audit exemptions;
- (b) the members have not required the company to obtain an audit of its financial statements for the year in accordance with section 476 of the Companies Act 2006; and
- (c) you acknowledge your obligations for complying with the requirements of the Act with respect to accounting records and preparation of accounts.
- 1.6 The availability of the exemption from an audit of the financial statements is conditional upon your causing an independent examiners’ report to be prepared in respect of the financial statements in accordance with section 145 of the Charities Act 2011. You are responsible for deciding whether that report shall be made and for appointing us as reporting accountants to make that report to the trustees of the charity.
- 1.7 If gross income falls to £25,000 or less for the year, then, provided the other criteria set out above are met, you will need neither an audit nor an independent examiner’s report.
- 1.8 You have undertaken to make available to us, as and when required, all the charity’s accounting records and related financial information, including minutes of management and members’ meetings, necessary to carry out our work. You will make full disclosure to us of all relevant information.
## **2 Our responsibilities as independent examiners**
- 2.1 We shall plan our work on the basis that an independent examiner’s report is required for the year, unless you inform us in writing that either:
- (a) the charity requires an audit of the financial statements; or
- (b) the charity requires neither an audit nor an independent examiner’s report.
- 2.2 Should you instruct us to carry out an audit, then the terms of that assignment will be dealt with in a new engagement letter. Should you inform us that the charity requires neither an audit nor an independent examiner’s report, then we shall have no responsibilities to the charity, except those specifically agreed upon between us in respect of other professional services.
- 2.3 As independent examiners, we have a statutory responsibility to report to the members of the charity whether, in our opinion, there is reasonable cause to believe that, in any material respect:
- (a) adequate accounting records have not been kept, contrary to the requirements of the Companies Act 2006;
- (b) the financial statements do not agree with those accounting records; or
- (c) the financial statements do not comply with any of the accounting requirements specified in regulation 4 (or 5 for common investment funds or common deposit funds)* of the Charities (Accounts and Reports) Regulations 2008 and applicable accounting standards, except to the extent necessary to show a true and fair view.
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- 2.4 Should our work indicate that the charity is not entitled to exemption from an audit of the financial statements, then we will inform you. In such circumstances, we will not issue any report and will withdraw from the engagement to prepare an independent examiner’s report, notifying you in writing of the reasons. In these circumstances, if appropriate, we will discuss with you the possibility of appointing us as auditors.
- 2.5 We have a professional responsibility not to allow our name to be associated with financial statements that are, or may be, misleading. Therefore, although we are not required to search for such matters, should we become aware, for any reason, that the financial statements are, or may be, misleading; if the matter cannot be adequately dealt with by means of qualifying our opinion (or by other appropriate modifications of the report), we will not issue any report. In such circumstances, we will withdraw from the engagement, and will notify you in writing of the reasons. In these circumstances you agree that we have a right to invoice you for our time spent examining the accounts and for the time spent on any other work that is not completed as a result of our resignation.
- 2.6 Under section 156(2) of the Charities Act 2011 we have a statutory duty to make a written report to the Charity Commission on such matters (which relates to the activities or affairs of the charity or of any connected institution or body) of which we become aware during the course of our examination and which we have reasonable cause to believe is likely to be of material significance for the purposes of the exercise by the Commission of its functions under section 156(3) of the Charities Act 2011. In addition under section 156(4) if we become aware of any matter which does not require to be reported under section 156(2) but which we have reasonable cause to believe is likely to be relevant for the purposes of the exercise by the Charity Commission of any of its functions then we may make a report on the matter to the Commission. We may have to make this report without your knowledge and consent and we cannot undertake to you to fetter this discretion in any manner.
## **3 Scope of independent examination**
- 3.1 Our work as independent examiners will be carried out in accordance with guidance for such engagements issued by the Charity Commission. It will consist of comparing the financial statements with the accounting records kept by the charity, and making such limited enquiries of the trustees and staff of the charity as we may consider necessary for the purpose of our report.
- 3.2 As part of our normal procedures, we may request you to provide written confirmation of any information or explanations provided by you orally during the course of our work.
- 3.3 Our work as reporting accountants will not be an audit of the financial statements in accordance with International Standards of Auditing (UK). Accordingly, we will not obtain any independent evidence relating to entries in the accounting records, or to the amounts or disclosures in the financial statements. Consequently our work as reporting accountants will not provide any assurance that the accounting records or the financial statements are free from material misstatement whether caused by fraud, other irregularity or error.
- 3.4 Because we will not carry out an audit, nor otherwise confirm the accuracy or reasonableness of the accounting records maintained by the charity, we will be unable to provide any assurance as to whether the financial statements that we prepare from those records give a true and fair view.
## **4 Other services**
- 4.1 We also agree to advise on other taxation and accountancy matters, as requested by you from time to time, and to undertake work in respect of these, as required. This work will incur charges based on the time involved and complexity of the work undertaken.
## **5 Limitation of liability**
- 5.1 We wish to advise you the extent of our liability to you in respect of the professional services described within this engagement letter (the professional services).
- 5.2 Having considered both your circumstances and our own, we consider that £50,000 represents a fair maximum limit to our liability as a firm in the event of any one claim arising in respect of the professional services. This maximum total liability includes any claims for loss or damage, however caused, whether in respect of breaches of contract, tort (including negligence) or otherwise in respect of the professional services and shall also include all other related costs including legal fees, interest, etc.
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- 5.3 We acknowledge that the limit in respect of our total aggregate liability will not apply to any acts, omissions or representations that are in any way criminal, dishonest or fraudulent on the part of the firm, its partners/directors/members or employees.
## **6 Agreement of terms**
- 6.1 This engagement will start with your accounts for the period ending on 01 April 2021.
- 6.2 We will be responsible for earlier years as appropriate.
- 6.3 This letter supersedes any previous engagement letter for the period covered. The terms set out in this letter and Standard Terms of Business (last revised 15 November 2021) shall take effect immediately upon your countersigning this letter and returning it to us. If we are instructed to start work before receiving a signed copy of this letter we will treat that as acceptance of the full terms of this engagement letter, unless we hear from you to the contrary within 30 days of you giving that instruction.
- 6.4 You or we may agree to vary or terminate our authority to act on your behalf at any time without penalty. Notice of variation or termination must be given in writing.
- 6.5 Once it has been agreed, this letter and Standard Terms of Business will remain effective until they are replaced. We shall be grateful if you could confirm your agreement to these terms by signing the enclosed copy of this letter and returning it to us immediately. If this letter and terms of business are not in accordance with your understanding of our terms of appointment, please let us know.
- 6.6 Our Privacy Notice forms part of this engagement letter and sets out the subject matter and duration of the processing, the nature and purpose of the processing, the type of personal data and the categories of data subjects.
- 6.7 We may update our Privacy Notice and Standard Terms of Business from time to time without notice. The current version is available on our website www.menzies.co.uk/legal. Please advise us if you require a hard copy to be mailed to you.
Yours faithfully
## **Menzies LLP**
We confirm that we have read and understood the contents of this letter and Standard Terms of Business dated 15 November 2021 and agree that they accurately reflect the services that we have instructed you to provide.
01-Feb-2022 Signed ____________________________________ Date ________________ 31-Jan-2022 Signed ____________________________________ Date ________________
## **For and on behalf of Ruff Sqwad Arts Foundation**