DocuSign Envelope ID: 0EBC56FE-CD93-4F95-9AB7-F34EB2EA56B8
Charity number: 1173218
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 APRIL 2022
RUFF SQWAD ARTS FOUNDATION
DocuSign Envelope ID: 0EBC56FE-CD93-4F95-9AB7-F34EB2EA56B8
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 - 15 |
DocuSign Envelope ID: 0EBC56FE-CD93-4F95-9AB7-F34EB2EA56B8
RUFF SQWAD ARTS FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 1 APRIL 2022
Trustees
Buba Sahor, Chair Anton Chambers, Trustee Derek Boakye, 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
Page 1
DocuSign Envelope ID: 0EBC56FE-CD93-4F95-9AB7-F34EB2EA56B8
RUFF SQWAD ARTS FOUNDATION
TRUSTEES' REPORT FOR THE YEAR ENDED 1 APRIL 2022
The Trustees present their annual report together with the financial statements of the Charity for the year 2 April 2021 to 1 April 2022.
Objectives and activities
a. Policies and objective
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
Grime Pays: We have now completed the third and final of our Arts Council England funded Grime Pays programs. Grime Pays is our most renowned and exclusive program that supports young talent via an industry immersive experience so we have also opened up conversations with various partners/funders to see how we can further develop this offering.
Elevate: As we come to the end of our second and final year of our Arts Council England funded Elevate project. We’re now looking into a funding extension for the project as we were severely impacted by the pandemic. The impact of the pandemic has hindered our efforts to build and strengthen our capacity but we are constantly reviewing our capacity and hope that through the Elevate extension grant that we will sustain our capacity building efforts.
Arrivals: In our efforts to increase our engagement in Newham we’ve formed new partnerships with Royal Docks and The BeatBox Academy to co-create music for a grand show in the Royal Docks. The show also formed part of the launch for the Royal Docks cultural strategy launch.
YCHTB/SEFS Summer Challenge : In order to continue our delivery through the last phases of the pandemic we launched a summer project to offer young musicians and creatives pre-booked workshops. The sessions were led by our core team and also gave our young graduates opportunities to gain experience through peer to peer mentoring. Due to covid-19 restrictions we ensured all government guidelines were upheld in order to deliver our sessions in a safe manner.
Page 2
DocuSign Envelope ID: 0EBC56FE-CD93-4F95-9AB7-F34EB2EA56B8
RUFF SQWAD ARTS FOUNDATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 1 APRIL 2022
Objectives and activities (continued)
SJP & FFL Discuss and Devour Podcast: As part of our efforts to meet the creative demands of the youth and expand our offering we’ve expanded our reach via the Discuss and Devour by forming new partnerships funds from various funders and continuing the development of the podcast. 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.
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 are still working on ways to build our reserves but like many other young organizations that were impacted by the pandemic we currently don’t have the level of sustainable reserves as we desire but as we are still a relatively young organization that like many was impacted by the pandemic we’re still developing ways to develop things adequately. As a result of our ongoing efforts and will to continue our support for youth we’ve recently received a donation from Galliard Homes which gives us the flexibility to allocate funds to projects/needs where and when necessary.
Financial review
a. Going concern
Trustees and co-founders have reviewed the forecast for the next year to confirm that nothing will stop the charity from continuing its work. The charity is currently in a good position and will continue to strengthen its capacity to generate income and implement measures to become more sustainable.
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.
Page 3
DocuSign Envelope ID: 0EBC56FE-CD93-4F95-9AB7-F34EB2EA56B8
RUFF SQWAD ARTS FOUNDATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 1 APRIL 2022
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 Derek Boakye Trustee (chair) Trustee (Treasurer) Date: 08-Feb-2023 08-Feb-2023
Page 4
DocuSign Envelope ID: 0EBC56FE-CD93-4F95-9AB7-F34EB2EA56B8
RUFF SQWAD ARTS FOUNDATION
INDEPENDENT EXAMINERS' REPORT
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 2022.
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
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:
-
accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
-
the accounts do not accord with those records; or
-
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:
Dated: 09-Feb-2023
Janice Matthews FCA
Menzies LLP
Chartered Accountants Centrum House 36 Station Road Egham Surrey TW20 9LF
Page 5
DocuSign Envelope ID: 0EBC56FE-CD93-4F95-9AB7-F34EB2EA56B8
RUFF SQWAD ARTS FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 1 APRIL 2022
| Note Income from: Donations and legacies 3 Charitable activities 4 Total income Expenditure on: Charitable activities Total expenditure Net income/(expenditure) Transfers between funds 11 Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Restricted funds 2022 £ 107,112 - 107,112 101,430 101,430 5,682 6,221 11,903 43,549 11,903 55,452 |
Unrestricted funds 2022 £ 49,430 - 49,430 21,352 21,352 28,078 (6,221) 21,857 298 21,857 22,155 |
Total funds 2022 £ 156,542 - 156,542 122,782 122,782 33,760 - 33,760 43,847 33,760 77,607 |
Total funds 2021 £ 92,880 809 |
|---|---|---|---|---|
| 93,689 | ||||
| 103,096 | ||||
| 103,096 | ||||
| (9,407) - |
||||
| (9,407) | ||||
| 53,254 (9,407) |
||||
| 43,847 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 8 to 15 form part of these financial statements.
Page 6
DocuSign Envelope ID: 0EBC56FE-CD93-4F95-9AB7-F34EB2EA56B8
RUFF SQWAD ARTS FOUNDATION
BALANCE SHEET AS AT 1 APRIL 2022
| Note Fixed assets Tangible assets 8 Current assets Debtors 9 Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets Total assets less current liabilities Total net assets Charity funds Restricted funds 11 Unrestricted funds 11 Total funds |
250 72,328 72,578 (2,050) |
2022 £ 7,079 7,079 70,528 77,607 77,607 55,452 22,155 77,607 |
250 35,810 36,060 (1,850) |
2021 £ 9,637 |
|---|---|---|---|---|
| 9,637 34,210 |
||||
| 43,847 | ||||
| 43,847 | ||||
| 43,549 298 |
||||
| 43,847 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................ ................................................ Buba Sahor Derek Boakye Date: 08-Feb-2023 08-Feb-2023
The notes on pages 8 to 15 form part of these financial statements.
Page 7
DocuSign Envelope ID: 0EBC56FE-CD93-4F95-9AB7-F34EB2EA56B8
RUFF SQWAD ARTS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 APRIL 2022
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 in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
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.
Ruff Sqwad Arts Foundation meets the definition of a public benefit entity under FRS 102.
2.2 Going concern
Trustees and co-founders have reviewed the forecast for the next year to confirm that nothing will stop the charity from continuing its work. The charity is currently in a good position and will continue to strengthen its capacity to generate income and implement measures to become more sustainable.
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.
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.
Page 8
DocuSign Envelope ID: 0EBC56FE-CD93-4F95-9AB7-F34EB2EA56B8
RUFF SQWAD ARTS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 APRIL 2022
2. Accounting policies (continued)
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:
Equipment - 5 years straight line
2.6 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 in the Statement of financial activities as a finance cost.
2.7 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.
2.8 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.
Page 9
DocuSign Envelope ID: 0EBC56FE-CD93-4F95-9AB7-F34EB2EA56B8
RUFF SQWAD ARTS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 APRIL 2022
3. Income from donations and legacies
| Donations Grants Other Income Total 2021 |
Restricted funds 2022 £ 9,466 97,646 - 107,112 89,503 |
Unrestricted funds 2022 £ 49,430 - - 49,430 3,377 |
Total funds 2022 £ 58,896 97,646 - 156,542 92,880 |
Total funds 2021 £ 1,997 89,503 1,380 |
|---|---|---|---|---|
| 92,880 | ||||
4. Income from charitable activities
| Studio Hire Total 2021 |
Unrestricted funds 2022 £ - 809 |
Total funds 2022 £ - 809 |
Total funds 2021 £ 809 |
|---|---|---|---|
5. Analysis of expenditure by activities
| Delivery of workshops Total 2021 |
Activities undertaken directly 2022 £ 106,211 86,332 |
Grant funding of activities 2022 £ 144 569 |
Support costs 2022 £ 16,427 16,195 |
Total funds 2022 £ 122,782 103,096 |
Total funds 2021 £ 103,096 |
|---|---|---|---|---|---|
Page 10
DocuSign Envelope ID: 0EBC56FE-CD93-4F95-9AB7-F34EB2EA56B8
RUFF SQWAD ARTS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 APRIL 2022
5. Analysis of expenditure by activities (continued)
Analysis of direct costs
| Organisational development Grime Pays Contractors - project specific General project expenses Shoot Merchandise Equipment Total 2021 |
Delivery of workshops 2022 £ 4,850 29,886 24,894 39,032 6,473 1,053 23 106,211 86,332 |
Total funds 2022 £ 4,850 29,886 24,894 39,032 6,473 1,053 23 106,211 86,332 |
Total funds 2021 £ 19,933 43,120 1,995 16,824 4,460 - - |
|---|---|---|---|
| 86,332 | |||
Analysis of support costs
| Rent Bank charges Office costs Professional fees Depreciation Marketing General expenses Travel Total 2021 |
Delivery of workshops 2022 £ 5,318 5 698 4,725 2,558 884 1,484 755 16,427 16,195 |
Total funds 2022 £ 5,318 5 698 4,725 2,558 884 1,484 755 16,427 16,195 |
Total funds 2021 £ 6,612 6 1,912 4,644 2,557 125 310 29 |
|---|---|---|---|
| 16,195 | |||
6. Independent examiner's remuneration
The independent examiner's remuneration amounts to an independent examiner fee of £900 ( 2021 - £800 ), and preparation of accounts of £1,150 (2021 - £1,050).
Page 11
DocuSign Envelope ID: 0EBC56FE-CD93-4F95-9AB7-F34EB2EA56B8
RUFF SQWAD ARTS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 APRIL 2022
| 7. Trustees' remuneration and expenses During the year, no Trustees received any remuneration or other benefits_(2021 - £NIL). During the year ended 1 April 2022, no Trustee expenses have been incurred(2021 - £NIL). 8. Tangible fixed assets Cost or valuation At 2 April 2021 At 1 April 2022 Depreciation At 2 April 2021 Charge for the year At 1 April 2022 Net book value At 1 April 2022 _At 1 April 2021 9. Debtors 2022 £ Due within one year Trade debtors 250 250 10. Creditors: Amounts falling due within one year 2022 £ Accruals and deferred income 2,050 |
Equipment £ 12,788 |
|---|---|
| 12,788 | |
| 3,151 2,558 |
|
| 5,709 | |
| 7,079 | |
| 9,637 | |
| 2021 £ 250 |
|
| 250 2021 £ 1,850 |
Page 12
DocuSign Envelope ID: 0EBC56FE-CD93-4F95-9AB7-F34EB2EA56B8
RUFF SQWAD ARTS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 APRIL 2022
11. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds Restricted funds Arrivals Elevate Restricted Fund FFL DND Podcast Film Grime Pays GRM Threatre Project Heritage Project Joe Strummer Podcast Museum Of London Scholar Funeral SEFS Serious sessions SJP DND Podcast The Winternship YCHTB Summer Challenge Restricted Fund Total of funds |
Balance at 2 April 2021 £ 298 - 28,715 - 1,987 6,585 - - 4,000 - - - - - - 2,262 43,549 43,847 |
Income £ 49,430 3,998 30,000 4,960 - 21,758 6,000 8,000 - 2,000 3,250 - 5,000 20,000 2,146 - 107,112 156,542 |
Expenditure £ (21,352) (3,790) (53,840) (70) - (23,644) (6,000) (1,955) (3,107) - (3,620) (900) (3,914) - (590) - (101,430) (122,782) |
Transfers in/out £ (6,221) - 7,213 - - - - - - - 370 900 - - - (2,262) 6,221 - |
Balance at 1 April 2022 £ 22,155 |
|---|---|---|---|---|---|
| 208 12,088 4,890 1,987 4,699 - 6,045 893 2,000 - - 1,086 20,000 1,556 - |
|||||
| 55,452 | |||||
| 77,607 |
Page 13
DocuSign Envelope ID: 0EBC56FE-CD93-4F95-9AB7-F34EB2EA56B8
RUFF SQWAD ARTS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 APRIL 2022
11. Statement of funds (continued)
Statement of funds - prior year
| Unrestricted funds General Funds Restricted funds Restricted Fund Elevate Restricted Fund Total of funds |
Balance at 1 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 |
Restricted funds in the year are as follows:
Elevate - An arts council capacity building grant originally set for two years but extended by a further 12 months due to covid.
Grime Pays - An arts council grant to support the delivery of 3 industry immersive music projects for emerging talent.
Joe Strummer - A grant to fund, pilot and support the development of a youth podcast for 11-15 years olds designed to bridge the intergenerational gap.
SEFS serious sessions - Grant for Music workshop sessions for young and aspiring musicians and creatives
FFL & Amplify LDN - Grant for Music workshop sessions for young and aspiring musicians and creatives
Grime Pays x RD - A local authority grant to support the delivery of an industry immersive music project for emerging talent.
SJP DnD Podcast - A grant to fund a youth podcast for 11-15 years olds designed to bridge the intergenerational gap.
Heritage Project - A local authority grant to support the creation of a short documentary on heritage and a short music album from young people.
FFL Small Grant DnD - A grant to fund a youth podcast for 11-15 years olds designed to bridge the intergenerational gap.
CML Project Mu-School - A local authority grant to support music workshops within a local school.
Page 14
DocuSign Envelope ID: 0EBC56FE-CD93-4F95-9AB7-F34EB2EA56B8
RUFF SQWAD ARTS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 APRIL 2022
12. 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 2021 £ 298 43,549 43,847 |
Income £ 49,430 107,112 156,542 Balance at 1 April 2020 £ 2,160 51,094 53,254 |
Expenditure £ (21,352) (101,430) (122,782) Income £ 4,186 89,503 93,689 |
Transfers in/out £ (6,221) 6,221 - Expenditure £ (6,048) (97,048) (103,096) |
Balance at 1 April 2022 £ 22,155 55,452 |
|---|---|---|---|---|---|
| 77,607 | |||||
| Balance at 1 April 2021 £ 298 43,549 |
|||||
| 43,847 |
13. Related party transactions
During the year, Ruff Sqwad Music Ltd received payments totalling £62,443 (2021: £55,539) 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 15