## **Draper Together CIO**
**Charity No. 1173496**
## **Trustees' Report and Unaudited Accounts**
**31 March 2024**
**Draper Together CIO Contents**
||Pages|
|---|---|
|Trustees' Annual Report|2|
|Independent Examiner's Report|4|
|Statement of Financial Activities|5|
|Balance Sheet|6|
|Notes to the Accounts|7|
|Statement of Cash flows|13|
|Detailed Statement of Financial Activities|14 to 15|
Page 1
**Draper Together CIO Trustees Annual Report**
The trustees present their report with the unaudited financial statements of the charity for the year ended 31 March 2024.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Charity No. 1173496**
## **Trustees**
The following trustees served during the year:
Brian O'Neal Patrick Clifford Primrose Harris Rod Westmaas Stephen Lumb
## **Key Management Personnel**
Chair B O'Neal
## **Accountants**
Borasana Limited 55 Jasmine Grove London SE20 8JY
## **Bankers**
NatWest 10 Southwark Street London SE1 1TJ
## **OBJECTIVES AND ACTIVITIES**
Draper Together is a charitable organisation that promotes community cohesiveness by offering opportunities to the people of the Draper estate and the broader Southwark neighbourhood. Draper Together aims to break down social and cultural barriers by addressing inequities and social challenges through intervention, events, and activities that develop and empower communities and groups. Draper Together brings people together to celebrate and respect our diversity and establishes a foundation of optimism in our community by enhancing the well-being of individuals and assisting them in making a positive contribution to society as a whole. Draper Together facilitates early intervention through the arts and education
We have continued to strengthen and cultivate successful relationships with local businesses, and as a result, we have attracted the attention of several local charities and trusts, as well as Southwark Council. Our proven track record in securing funding and successfully delivering our projects has also brought us to the attention of local businesses. We have a great commitment to maintaining tight relationships with other charitable organisations and working closely with them. The following organisations are able to attest to our sincerity since we have opened our doors to them at charitable rates in order to provide them with a location to deliver their project that is extremely viable, inexpensive, central, and suitable for the purpose for which it was intended
Page 2
**Draper Together CIO Trustees Annual Report**
## **FINANCIAL REVIEW**
Draper Together reserves policy is to keep appropriate level of reserves to enable operating activities to continue, taking into consideration the various risks and contingencies that may develop from time to time. In accordance with the Charity Commission's recommendations, the board of trustees has set and will continue to set reserves at a level equal to three months of operating expenses. Annually, the policy is reviewed
## **PLANS FOR FUTURE PERIODS**
A larger charity must provide a summary of the charity's plans for the future including its aims and objectives and details of any plans to achieve them ...
A larger charity's report should explain the trustees perspective of the future direction of the charity...
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The charitable organisation is governed by its governing document, a trust deed, and is registered as a charitable organisation. The Director is responsible for the day-to-day management, including the implementation of strategy approved by the Trustee Board, as well as the operational side of the charity's operation. At each Board meeting, the Director reports on organisational performance relative to approved strategy. This allows Trustees to regularly monitor and evaluate performance.
The Board of Trustees is accountable for implementing an effective internal control system, including the identification and management of risk. Our approach to risk is managed and reviewed by our assurance framework, which is overseen by the Finance Committee.
The Board's work is complemented by the Draper Together Management Team, which ensures the security, performance, and quality of our operational services and projects. In reality, Draper Together will record risks in a risk register, analyse them in terms of impact and likelihood, and then document the necessary measures to mitigate the risk.
## **Statement of trustees' responsibilities in relation to the financial statements**
The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the charity's trustees
Primrose Harris Trustee
Page 3
**Draper Together CIO Independent Examiners Report**
## **Independent Examiner's Report to the trustees of Draper Together CIO**
I report to the trustees on my examination of the financial statements of Draper Together CIO for the year ended 31 March 2024.
## **Responsibilities and basis of report**
As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
- the financial statements do not accord with those records; or
- the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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 financial statements to be reached.
Orvil Plummer FCCA Borasana Limited 55 Jasmine Grove London
SE20 8JY 31 March 2024
Page 4
**Draper Together CIO Statement of Financial Activities**
## **for the year ended 31 March 2024**
|**Notes**
**Income and endowments**
**from:**
Donations and legacies
3
Other trading activities
4
Other
5
**Total**
**Expenditure on:**
Charitable activities
6
Other
7
**Total**
Net gains on investments
**Net (expenditure)/income**
Transfers between funds
**Net (expenditure)/income**
**before other gains/(losses)**
**Other gains and losses**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**||**Unrestricted**
**funds**|**Restricted**
**funds**|**Total funds**|**Total funds**|
|---|---|---|---|---|---|
|||**2024**|**2024**|**2024**|**2023**|
|||**£**|**£**|**£**|**£**|
|||||||
|||-|42,793|42,793|54,883|
|||105,604|-|105,604|54,380|
|||6,341|-|6,341|106|
|||111,945|42,793|154,738|109,369|
|||||||
|||71,336|56,641|127,977|73,643|
|||43,741|-|43,741|24,061|
|||115,077|56,641|171,718|97,704|
|||-|-|-|-|
|||(3,132)|(13,848)|(16,980)|11,665|
|||-|-|-|-|
|||(3,132)|(13,848)|(16,980)|11,665|
|||||||
|||(3,132)|(13,848)|(16,980)|11,665|
|||||||
|||19,377|13,848|33,225|21,560|
|||16,245|-|16,245|33,225|
|||||||
|||||||
|||||||
Page 5
**Draper Together CIO Balance Sheet at 31 March 2024**
|**Charity No. 1173496**
**Fixed assets**
Tangible assets
9
**Current assets**
Debtors
10
Cash at bank and in hand
**Creditors:**Amount falling due within one year
11
**Net current assets**
**Total assets less current liabilities**
**Net assets excluding pension asset or liability**
**Total net assets**
**The funds of the charity**
**Restricted funds**
12
Restricted income funds
**Unrestricted funds**
12
General funds
**Reserves**
12
**Total funds**|**2024**
**£**
9,488
9,488
-
7,262
7,262
(504)
6,758
16,246
16,246
16,246
-
-
16,246
16,246
16,246|**2023**
**£**
8,112|
|---|---|---|
|||8,112
3,649
33,644|
|||37,293
(12,180)|
|||25,113
33,225|
|||33,225|
|||33,225|
|||13,848|
|||13,848
19,377|
|||19,377|
|||33,225|
Approved by the trustees on 31 March 2024
And signed on their behalf by:
Primrose Harris Trustee 31 March 2024
Page 6
**Draper Together CIO Notes to the Accounts**
## **for the year ended 31 March 2024**
- 1 **Accounting policies**
## **Basis of preparation**
The financial statements have been prepared in accordance with 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 if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
## **Fund accounting**
- Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
- Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
- Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
## **Income**
- Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
- Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
- Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
- Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 7
**Draper Together CIO Notes to the Accounts**
## **Expenditure**
- Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
- Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
- Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
- Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
- Other expenditure These are support costs not allocated to a particular activity.
## **Trade and other debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
## **Trade and other creditors**
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## **Receipt of donated goods, facilities and services**
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
Page 8
**Draper Together CIO Notes to the Accounts**
## 2 **Statement of Financial Activities - prior year**
|2
**Statement of Financial Activities - prior year**||||
|---|---|---|---|
|**Income and endowments from:**
Donations and legacies
Other trading activities
Other
**Total**
**Expenditure on:**
Charitable activities
**Total**
**Net income**
**Net income before other**
**gains/(losses)**
**Other gains and losses:**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
3
**Income from donations and legacies**
Donations
4
**Income from other trading activities**
Hall Hire
5
**Other income**
Bank interest
Insurance Claim|**Unrestricted**
**funds**
**2023**
**£**
57,528
51,735
106
109,369
97,704
97,704
11,665
11,665
11,665
7,712
19,377
**Restricted**
**£**
42,793
42,793
**Unrestricted**
**£**
105,604
105,604
**Unrestricted**
**£**
95
6,246
6,341|**Restricted**
**funds**
**2023**
**£**
-
-
-
-
-
-
-
-
-
13,848
13,848
**Total**
**2024**
**£**
42,793
42,793
**Total**
**2024**
**£**
105,604
105,604
**Total**
**2024**
**£**
95
6,246
6,341|**Total funds**
**2023**
**£**
57,528
51,735
106|
||||109,369
97,704|
||||97,704|
||||11,665|
||||11,665|
||||11,665
21,560|
||||33,225|
||||**Total**
**2023**
**£**
54,883|
||||54,883|
||||**Total**
**2023**
**£**
54,380|
||||54,380|
||||**Total**
**2023**
**£**
106
-|
||||106|
Page 9
**Draper Together CIO Notes to the Accounts**
## 6 **Expenditure on charitable activities**
|_Expenditure on charitable_
_activities_
Arts, culture and heritage
_Governance costs_
Directors fees
Independent Examination
Cost
Trustee Meeting
7
**Other expenditure**
Employee costs
Motor and travel costs
Premises costs
General administrative costs
Legal and professional costs
8
**Staff costs**
Salaries and wages
No employee received emoluments in excess
9
**Tangible fixed assets**
**Cost or revaluation**
At 1 April 2023
Additions
At 31 March 2024
**Net book values**
At 31 March 2024
At 31 March 2023
10 **Debtors**
Prepayments and accrued income|**Unrestricted**
**£**
45,613
22,895
2,000
828
71,336
of £60,000.|**Restricted**
**£**
56,641
-
-
-
56,641
**Unrestricted**
**£**
16,067
5,878
17,380
2,864
1,552
43,741
**2024**
8,178
8,178
**2024**
**£**
-
-|**Total**
**2024**
**£**
102,254
22,895
2,000
828
127,977
**Total**
**2024**
**£**
16,067
5,878
17,380
2,864
1,552
43,741
**£**
8,112
1,376
9,488
9,488
8,112|**Total**
**2023**
**£**
43,301
27,622
2,000
720|
|---|---|---|---|---|
|||||73,643|
|||||**Total**
**2023**
**£**
-
896
20,503
1,230
1,432|
|||||24,061|
|||||**2023**
-|
|||||-|
|||||**£**
8,112
1,376|
|||||9,488|
|||||9,488|
|||||8,112|
|||||**2023**
**£**
3,649|
|||||3,649|
Page 10
**Draper Together CIO Notes to the Accounts**
## 11 **Creditors:**
amounts falling due within one year
|Other taxes and social security
Other creditors
Accruals
12 **Movement in funds**
**Restricted funds:**
**Restricted income funds:**
Youth Club 11+
Warm Hub
Windrush
Documentary & Film Club
Environment and
conservation
Sporting Draper 60+
Draper Sporting Chance
Community
_Total_
**Unrestricted funds:**
**General funds**
**Total funds**||**2024**
**£**
504
-||**2023**
**£**
-
10,680|
|---|---|---|---|---|
|||-||1,500|
||**At 1 April**
**2023**
880
3,294
3,686
2,186
805
458
2,539
-
13,848
19,377
33,225|504
**Incoming**
**resources**
**(including**
**other**
**gains/losses**
**)**
**£**
22,493
4,950
2,499
2,835
-
-
-
10,016
42,793
111,945
154,738|**Resources**
**expended**
**£**
(23,373)
(8,244)
(6,185)
(5,021)
(805)
(458)
(2,539)
(10,016)
(56,641)
(115,077)
(171,718)|12,180|
|||||**At 31**
**March**
**2024**
**£**
-
-
-
-
-
-
-
-|
|||||-|
|||||16,245|
|||||16,245|
Purposes and restrictions in relation to the funds: Restricted funds: Youth Club 11+ Warm Hub Windrush Documentary & Film Club Environment and conservation Sporting Draper 60+ Draper Sporting Chance Community
Page 11
**Draper Together CIO Notes to the Accounts**
## 13 **Analysis of net assets between funds**
|13 **Analysis of net assets between funds**||||
|---|---|---|---|
|Fixed assets
Net current assets
14 **Reconciliation of net debt**
Cash and cash equivalents
Net debt|**Unrestricted**
**funds**
**£**
7,848
1,223
9,071
**At 1 April**
**2023**
**£**|**Restricted**
**funds**
**£**
1,640
5,535
7,175
**Cash flows**
**£**|**Total**
**£**
9,488
6,758|
||||16,246|
||||**At 31**
**March**
**2024**
**£**|
||33,644|(26,382)|7,262|
||33,644
33,644|(26,382)
(26,382)|7,262|
||||7,262|
|||||
Page 12
**Draper Together CIO Statement of Cash flows for the year ended 31 March 2024**
|**Cash flows from operating activities**
**Net (expenditure)/income per Statement of Financial Activities**
**Adjustments for:**
Dividends, interest and rents from investments
Decrease/(Increase) in trade and other receivables
(Decrease)/Increase in trade and other payables
**Net cash (used in)/provided by operating activities**
**Cash flows from investing activities**
Payments for property, plant and equipment
Dividends, interest and rents from investments
**Net cash from/(used in) investing activities**
**Net cash from financing activities**
**Net (decrease)/increase in cash and cash equivalents**
**Cash and cash equivalents at the beginning of the year**
**Cash and cash equivalents at the end of the year**|**2024**
**£**
(16,980)
(6,341)
3,649
(11,676)
(31,348)
(1,376)
6,341
4,965
-
(26,383)
33,644
7,261|**2023**
**£**
11,665
(106)
(647)
4,700|
|---|---|---|
|||15,612
(8,112)
106|
|||(8,006)|
||||
|||-|
||||
|||7,606|
|||26,038|
|||33,644|
||||
|**Components of cash and cash equivalents**|||
|Cash and bank balances|7,262|33,644|
||||
||7,262|33,644|
Page 13
**Draper Together CIO Detailed Statement of Financial Activities**
## **for the year ended 31 March 2024**
|**Income and endowments from:**
Donations and legacies
Donations
Other trading activities
Hall Hire
Other
Bank interest
Insurance Claim
**Total income and endowments**
**Expenditure on:**
Charitable activities
Arts, culture and heritage
Governance costs
Directors fees
Independent Examination Cost
Trustee Meeting
**Total of expenditure on charitable**
**activities**
Employee costs
Salaries/wages
Staff welfare
Temporary staff
Motor and travel costs
Vehicles - Leasing and hire costs
Travel and subsistence
Premises costs
Light, heat and power
Premises cleaning
Premises insurances
Premises repairs and
maintenance
Other premises costs|**Unrestricte**
**d funds**
**2024**
**£**
-
-
105,604
105,604
95
6,246
6,341
111,945
45,613
45,613
22,895
2,000
828
25,723
71,336
8,178
2,000
5,889
16,067
4,420
1,458
5,878
9,789
3,189
2,309
717
1,376|**Restricted**
**funds**
**2024**
**£**
42,793
42,793
-
-
-
-
-
42,793
56,641
56,641
-
-
-
-
56,641
-
-
-
-
-
-
-
-
-
-
-
-|**Total funds**
**2024**
**£**
42,793
42,793
105,604
105,604
95
6,246
6,341
154,738
102,254
102,254
22,895
2,000
828
25,723
127,977
8,178
2,000
5,889
16,067
4,420
1,458
5,878
9,789
3,189
2,309
717
1,376|**Total funds**
**2023**
**£**
54,883|
|---|---|---|---|---|
|||||54,883|
|||||54,380|
|||||54,380|
|||||106
-|
|||||106|
|||||109,369
43,301|
|||||43,301|
|||||27,622
2,000
720|
|||||30,342|
|||||73,643
-
-
-|
|||||-|
|||||-
896|
|||||896|
|||||5,785
2,539
378
11,343
458|
Page 14
## **Draper Together CIO Detailed Statement of Financial Activities**
|General administrative costs,
including depreciation and
amortisation
Equipment expensed
Software, IT support and related
costs
Stationery and printing
Telephone, fax and broadband
Legal and professional costs
Accountancy and bookkeeping
**Total of expenditure of other costs**
**Total expenditure**
Net gains on investments
**Net (expenditure)/income**
**Net (expenditure)/income before**
**other gains/(losses)**
Other Gains
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|17,380
355
509
224
1,776
2,864
1,552
1,552
43,741
115,077
-
(3,132)
(3,132)
-
(3,132)
19,377
16,245|-
-
-
-
-
-
-
-
-
56,641
-
(13,848)
(13,848)
-
(13,848)
13,848
-|17,380
355
509
224
1,776
2,864
1,552
1,552
43,741
171,718
-
(16,980)
(16,980)
-
(16,980)
33,225
16,245|20,503|
|---|---|---|---|---|
|||||-
538
106
586|
|||||1,230|
|||||1,432|
|||||1,432|
||||||
|||||24,061|
|||||97,704
-|
|||||11,665|
|||||11,665
-|
|||||11,665|
|||||21,560|
|||||33,225|
Page 15