Charity registration number 1187723
THE PHOTOGRAPHY FOUNDATION
ANNUAL REPORT AND UNAUDITED ACCOUNTS
for the year ended 31 May 2024
The Photography Foundation Trustees’ Report
The Trustees are pleased to present their report and financial statements for the year ended 31 May 2024 for The Photography Foundation (TPF).
OBJECTIVES AND ACTIVITIES
TPF’s objectives
The main objectives for TPF are the advancement of education of the public in the subject of photography and the prevention and relief of poverty for young adults by:
i) providing vocational education and the necessary support to enable young adults from low income backgrounds to generate a sustainable income and be self-sufficient in the photography and creative industry.
ii) organising workshops, seminars, exhibitions, lectures, online events and other educational activities in the subject of photography.
iii) providing support to photographers by awarding grants, in particular but not exclusively, to photographers from low income backgrounds and photographers focused on creating awareness of environmental, social and cultural issues.
iv) offering awards and other honours in recognition of outstanding work in photography, promoting high quality photographic art.
What we do:
We create pathways to professional photography careers for less advantaged young adults in London through education and work experience, valuing talent and motivation over who you know or where you come from. We use photography as a conduit for social change, community connections and positive social interactions. We promote the art of photography, bringing photography to a new, wider and more diverse audience.
How we do it:
Our strategy remains unchanged from the previous year, and we split this into the following areas:
-
Main Training Programme – a 6-month training programme for young adults from disadvantaged backgrounds providing photography education, mentoring and work experience. Working with the trainees to build self-confidence, leadership qualities and skills to significantly improve employment prospects, enable freelance employment opportunities and the creation of a personal portfolio of professional work.
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Targeted Workshops – photography workshops aimed at using photography for positive social interactions and bringing photography to a wider audience. This includes workshops for beginner photographers, disadvantaged groups, families and schools.
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Events – a regular programme of talks, seminars and events with expert speakers, photographers and groups from the industry focusing on core topics tackling the objects of TPF, including networking opportunities for the photography and local community.
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TPF Photography Grant – the award of a photography grant to an established photographer for the production of a photo essay tackling a social issue in the UK. The funding for the grant is secured from an external charity.
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Photography Foundation Awards – an annual photography competition aimed at amateurs and professionals.
Activities during the 2023/24 year included:
- Our activities for 2023/24 were focused around delivering the activities that we do as a Charity, described above, strengthening our processes and increasing the impact of the charity with the core resources available to TPF. Many new connections, collaborations and partnerships were built in 2023/24 which help us achieve our charitable objectives.
The Photography Foundation Trustees’ Report (continued)
-
We continually monitor and assess our requirements for resource and staffing for TPF, bringing in new staff members to help with the education programme and events programme. We were delighted to recruit a second of our alumni trainees into our staff team as an education co-ordinator.
-
We made the decision to close down the ‘Beyond’ branded photography workshop programmes. Whilst the programme was successful the direction of the workshops was felt not as aligned with our objectives as other activities in the charity which we can now put more resources towards.
Reserves:
The total reserves held by TPF amount to £19,818, all of which is unrestricted.
It is the policy of TPF that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to two to three months expenditure or operating costs. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s activities while consideration is given to ways in which additional funding may be raised.
Structure, governance and management
The charity is a Charitable Incorporated Organisation (CIO), and was registered as a charity in England and Wales on 3 February 2020. The principal address of the charity is 3 Dormer Yard, Unit 2.1 Building D2, Greenwich, SE10 0EB. The registered charity number is 1187723. The charity's constitution is the governing document, and meets the definition of a charity under the Charities Act 2011 as it works exclusively for charitable purposes and is for the public benefit.
The trustees who served during the year and up to the date of signature of the financial statements were:
Mr M Johansson Mrs L Johansson Mrs A Johansson Mr D Graham-Hyde
There must be at least four charity trustees. If the number falls below this minimum, the remaining trustees may act only to call a meeting of the charity trustees, or appoint a new charity trustee. The maximum number of charity trustees is ten. The charity trustees may not appoint any charity trustee if as a result the number of charity trustees would exceed the maximum.
Apart from the first charity trustees, every trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees. In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.
If the charity is wound up, the members of the CIO have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.
The organisational structure of The Photography Foundation consists of a board of trustees who meet on a regular basis to consider and review the charity's activities, general progress and financial position and make decisions accordingly.
Statement of trustees' responsibilities
The trustees are responsible for preparing the trustees’ report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.
The Photography Foundation Trustees’ Report (continued)
In preparing these accounts, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts 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.
The trustees’ report was approved by the Board of Trustees on 31 March 2025.
Mr M A Johansson Trustee
The Photography Foundation Independent Examiner’s Report
I report to the trustees on my examination of the accounts of The Photography Foundation (“the Charity”) for the year ended 31 May 2024.
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 Act”).
I report in respect of my examination of the Charity’s accounts carried out under section 145 of the Act. 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
As the Charity’s gross income exceeded £250,000 the examiner must be a member of a body listed in section 145 of the Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, one of the listed bodies.
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:
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accounting records were not kept by the Charity in accordance with section 130 of the Act; or
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the accounts do not accord with those accounting records; or
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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.
Richard Tompkins Independent Examiner Cavendish Bond Chartered Accountants Bentinck House 3 - 8 Bolsover Street London W1W 6AB
31 March 2025
The Photography Foundation Statement of Financial Activities for the year ended 31 May 2024
| Current year Unrestricted Funds 2024 £ Income and endowments from: Donations and legacies A1 396,722 Charitable activities 16,288 Total income 413,010 Expenditure on: Charitable activities B2 421,995 Other B3 (13,378) Total expenditure B 408,617 Net income for the year 4,393 Net income after transfers A-B-C 4,393 4,393 Reconciliation of funds: E Total funds brought forward 15,425 Total funds carried forward 19,818 SORP Ref Net movement in funds |
Current year Restricted Funds 2024 £ - - - - - - - - - - - |
Current year Total Funds 2024 £ 396,722 16,288 413,010 421,995 (13,378) 408,617 4,393 4,393 4,393 15,425 19,818 |
Prior Year Total Funds 2023 £ 458,766 - |
|---|---|---|---|
| 458,766 | |||
| 93,586 398,085 |
|||
| 491,671 | |||
| (32,905) | |||
| (32,905) | |||
| (32,905) 48,330 |
|||
| 15,425 |
The statement of financial activities includes all gains and losses recognised in the year.
All prior year transactions were in unrestricted funds.
All income and expenditure derives from continuing activities.
The Photography Foundation Income and Expenditure Account for the year ended 31 May 2024
| Income Income from operations Investment income and interest Gross income in the year before exceptional items Gross income in the year including exceptional items Expenditure Charitable expenditure, excluding depreciation and amortisation Depreciation and amortisation Governance costs Other expenditure Interest payable Total expenditure in the year Net income before tax in the financial year Tax on surplus on ordinary activities Net income after tax in the financial year Retained surplus for the financial year |
2024 £ 413,010 - 413,010 413,010 396,454 18,128 7,403 (13,378) 10 408,617 4,393 - 4,393 4,393 |
2023 £ 458,766 - |
|---|---|---|
| 458,766 | ||
| 458,766 | ||
| 79,308 10,867 3,411 398,085 - |
||
| 491,671 | ||
| (32,905) - |
||
| (32,905) | ||
| (32,905) |
All income and expenditure derives from continuing activities.
In accordance with the provisions of the Companies Act 2006, the headings and subheadings used in the Income and Expenditure account have been adapted to reflect the special nature of the charity's activities.
The Photography Foundation Balance Sheet as at 31 May 2024
| Note SORP Fixed assets A Tangible assets 7 A2 Investments 8 A4 Total fixed assets Current assets B Debtors 9 B2 Cash at bank and in hand B4 Total current assets Creditors: amounts falling due within one year 10 C1 Net current (liabilities)/assets Net assets Unrestricted Funds Unrestricted revenue funds D3 Total charity funds The net assets are funded by: |
16,552 8,182 |
|---|---|
| 19,818 | |
The Trustees acknowledge their responsibilities for complying with the requirements of charity legislation with respect to accounting records and the preparation of accounts.
The charity is subject to independent examination under charity legislation and the report of the Independent Examiner is attached.
The Trustees are satisfied that, although the charity is not registered under the Companies Acts, if it were so registered, it would be eligible to prepare accounts in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
Mr M A Johansson Trustee
Approved by the board of trustees on 31 March 2025
The Photography Foundation
Notes to the accounts for the year ended 31 May 2024
1 Accounting policies
Basis of preparation and accounting convention
The accounts have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the Charities SORP "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 charity is a Public Benefit Entity as defined by FRS 102.
The accounts have been prepared under the historical cost convention.
Going Concern
At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the accounts.
Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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 are allocated by the proportion of the asset’s use.
All expenditure is accounted for on an accruals basis and has been listed under headings that aggregate all costs related to that activity.
Fixed Asset Investments
Investments in subsidiaries are measured at cost less any provision for impairment. A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
The Photography Foundation
Notes to the accounts for the year ended 31 May 2024
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
| Fixtures and fittings | 33% straight |
|---|---|
| Computer equipment | 33% straight |
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
At each reporting date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Debtors
Debtors are measured at their recoverable amounts at the balance sheet date.
Financial instruments including cash and bank balances
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
Pensions contributions
The charity operates a defined contribution pension scheme. Contributions are charged as an expense when they become payable in accordance with the rules of the scheme.
Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. There are no restricted or endowment funds.
The Photography Foundation
Notes to the accounts for the year ended 31 May 2024
2 Liability to taxation
The Trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively on the specific charitable objects of the charity and for no other purpose.
3 Winding up or dissolution of the charity
If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund will be transferred to some other charitable body or bodies having similar objects to the charity.
4 Significance of financial instruments to the charity's position
The Trustees do not consider financial instruments to be significant to the charity's financial position or performance, or to give rise to significant risks.
5 Net surplus before tax in the financial year
| Net surplus before tax in the financial year | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| The net surplus before tax in the financial year is stated after charging: | ||
| Depreciation of owned fixed assets | 18,128 | 10,867 |
| Pension costs | 4,274 | 1,205 |
6 Employment costs
| Employee costs Wages and salaries Social security costs Employer pension contributions Employees The average number of employees during the year was: |
2024 £ 222,432 14,996 4,274 |
2023 £ 42,449 3,018 1,205 |
|---|---|---|
| 241,702 | 46,672 | |
| 2024 8 |
2023 7 |
No employees received remuneration in excess of £60,000 per year.
The Photography Foundation
Notes to the accounts for the year ended 31 May 2024
7 Tangible fixed assets
| Land and Buildings £ Cost At 1 June 2023 - Additions - At 31 May 2024 - Depreciation At 1 June 2023 - Charge for the year - At 31 May 2024 - Net book value At 31 May 2024 - At 31 May 2023 - |
Fixtures and fittings £ 3,743 6,487 |
Equipment £ 28,858 38,224 |
Total £ 32,601 44,711 |
|---|---|---|---|
| 10,230 | 67,082 | 77,312 | |
| 2,354 2,847 |
25,061 15,281 |
27,415 18,128 |
|
| 5,201 | 40,342 | 45,543 | |
| 5,029 | 26,740 | 31,769 | |
| 1,389 | 3,797 | 5,186 |
8 Investments held as fixed assets
| Investments in subsidiaries Listed investments Other Classes of Investment £ £ £ At 1 June 2023 1 - - At 31 May 2024 1 - - |
Investment in subsidiary £ 1 |
|---|---|
| 1 |
The investment in subsidiary comprises the entire issued share capital of TPF Studio Limited which is dormant and has its registered office at Building D2, Unit 201, 3 Dormer Yard, Soames Walk, London, SE10 0EB.
Consolidated accounts are not prepared as the aggregate income of the charity and its subsidiary is less than £1,000,000, and the charity has taken advantage of the exemption available under the SORP.
9 Debtors
| Debtors | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Other debtors | 16,552 | 14,318 |
The Photography Foundation
Notes to the accounts for the year ended 31 May 2024
10 Creditors: amounts falling due within one year
| Creditors: amounts falling due within one year Trade creditors Accruals Taxes and social security Other creditors |
2024 £ 11,520 15,872 9,294 - |
2023 £ - 5,625 10,297 1,274 |
| 36,686 | 17,196 |
11 Financial commitments under operating leases
At the balance sheet date the charity had future minimum lease payment commitments under non-cancellable operating leases that fell due as follows:
| within one year between two and five years 12 Income and Expenditure account summary At 1 June 2023 Surplus/(deficit) for the year At 31 May 2024 |
2024 £ 47,725 70,514 |
2023 £ - - |
|---|---|---|
| 118,239 | - | |
| 2024 £ 15,425 4,393 |
2023 £ 48,330 (32,905) |
|
| 19,818 | 15,425 |
13 Related party transactions
During the year the charity received donations of £378,000 (2023: £440,880) from JAMMA International, a charity with certain common key management personnel.
During the year the charity recovered £13,378 from its subsidiary, TPF Studio Limited, and consequently reversed its impairment provision by the same amount. During the prior year the charity wrote off a balance of £398,085 owing to it from TPF Studio Limited. The impairment charge and reversal are included as 'other expenditure' within these accounts.
The Photography Foundation
Notes to the accounts for the year ended 31 May 2024
14 Representation of funds by assets and liabilities
| At 31 May 2024 Tangible fixed assets Fixed asset investments Current assets Current liabilities At 1 June 2023 Tangible fixed assets Fixed asset investments Current assets Current liabilities |
Unrestricted funds £ 31,769 1 24,734 (36,686) |
Designated funds £ - - - |
Restricted funds £ - - - - |
Total Funds £ 31,769 1 24,734 (36,686) |
|---|---|---|---|---|
| 19,818 | - | - | 19,818 | |
| Unrestricted funds £ 5,186 1 27,434 (17,196) |
Designated funds £ - - - - |
Restricted funds £ - - - - |
Total Funds £ 5,186 1 27,434 (17,196) |
|
| 15,425 | - | - | 15,425 |
The Photography Foundation Detailed analysis of income and expenditure for the year ended 31 May 2024
15 Donations, grants and legacies
| Total Donations, grants and legacies Revenue grants and donations from non public bodies Total private sector revenue grants Donations and gifts |
Current year Unrestricted Funds 2024 £ 396,722 |
Current year Restricted Funds 2024 £ - - - |
Current year Total Funds 2024 £ 396,722 396,722 396,722 |
Prior Year Total Funds 2023 £ 458,766 |
|---|---|---|---|---|
| 396,722 | 458,766 | |||
| 396,722 | 458,766 |
All the donations, grants and legacies in the prior year were unrestricted.
16 Income from charitable activities - trading activities
| Primary purpose and ancillary trading Total income from charitable trading Sale of goods and services in accordance with the charity's objects |
Current year Unrestricted Funds 2024 £ 16,288 |
Current year Restricted Funds 2024 £ - - |
Current year Total Funds 2024 £ 16,288 16,288 |
Prior Year Total funds 2023 £ - |
|---|---|---|---|---|
| 16,288 | - |
17 Total Income from charitable activities
| Total income from charitable trading Total income from charitable activities |
Current year Unrestricted Funds 2024 £ 16,288 |
Current year Restricted Funds 2024 £ - - |
Current year Total Funds 2024 £ 16,288 16,288 |
Prior Year Total Funds 2023 £ - |
|---|---|---|---|---|
| 16,288 | - |
18 Expenditure on charitable activities - direct spending
| Total direct spending Event and workshop costs |
Current year Unrestricted Funds 2024 £ 18,335 |
Current year Restricted Funds 2024 £ - - |
Current year Total Funds 2024 £ 18,335 18,335 |
Prior Year Total Funds 2023 £ - |
|---|---|---|---|---|
| 18,335 | - |
The Photography Foundation Detailed analysis of income and expenditure for the year ended 31 May 2024
| 19 | Support costs for charitable activities | ||||
|---|---|---|---|---|---|
| Current year | Current year | Current year | Prior Year | ||
| Unrestricted | Restricted | Total Funds | Total Funds | ||
| Funds | Funds | ||||
| 2024 | 2024 | 2024 | 2023 | ||
| £ | £ | £ | £ | ||
| Employee costs not included in direct costs | |||||
| Staff costs | 247,542 | - | 247,542 | 49,581 | |
| Premises expenses | |||||
| Rent, rates and service charges | 89,884 | - | 89,884 | 10,314 | |
| Repairs, maintenance and other office costs | 5,807 | - | 5,807 | 2,454 | |
| Administrative overheads | |||||
| Telephone and internet | 427 | - | 427 | - | |
| Software costs | 16,024 | - | 16,024 | 1,598 | |
| Advertising | 4,308 | - | 4,308 | 3,177 | |
| Insurance | 3,806 | - | 3,806 | 825 | |
| Studio equipment | 294 | - | 294 | - | |
| Loss/(profit) on disposal of fixed assets | (650) | - | (650) | - | |
| Other admin costs | 1,555 | - | 1,555 | 3,222 | |
| Professional fees paid to the Auditor or Independent Examiner in addition to audit and examination fees | |||||
| As detailed in Note 20 | 3,059 | - | 3,059 | - | |
| Professional fees paid to advisors other than the independent examiner | |||||
| Accountancy fees | 5,627 | - | 5,627 | 4,800 | |
| Financial costs | |||||
| Bank charges | 397 | - | 397 | 129 | |
| Late payment charges | 39 | - | 39 | 3,208 | |
| Interest payable | 10 | - | 10 | - | |
| Depreciation and amortisation | 18,128 | - | 18,128 | 10,867 | |
| Support costs before reallocation | 396,257 | - | 396,257 | 90,175 | |
| Total support costs | 396,257 | - | 396,257 | 90,175 | |
| The basis of allocation of costs between activities is described under accounting policies. | The charity's activity during | ||||
| the current and prior year was educational services. | |||||
| All the expenditure in the prior year was unrestricted. |
The Photography Foundation Detailed analysis of income and expenditure for the year ended 31 May 2024
20 Other expenditure - governance costs
| Independent Examiner's fees Legal and professional fees Total governance costs |
Current year Unrestricted Funds 2024 £ 4,133 3,270 |
Current year Restricted Funds 2024 £ - - - |
Current year Total Funds 2024 £ 4,133 3,270 7,403 |
Prior Year Total Funds 2023 £ 3,335 76 |
|---|---|---|---|---|
| 7,403 | 3,411 |
Professional fees paid to the Auditor or Independent Examiner in addition to audit and examination fees
| Fees paid to the examiner's firm Total additional fees included in support costs at Note 19 All the expenditure in the prior year was unrestricted. |
Current year Unrestricted Funds 2024 £ 3,059 |
Current year Restricted Funds 2024 £ - - |
Current year Total Funds 2024 £ 3,059 3,059 |
Prior Year Total Funds 2023 £ - |
|---|---|---|---|---|
| 3,059 | - | |||
21 Total charitable expenditure
| Total direct spending Total support costs B2d Total governance costs B2e Total charitable expenditure B2 Total support costs B2d Total governance costs B2e Total charitable expenditure B2 |
Current year Unrestricted Funds 2024 £ 18,335 396,257 7,403 |
Current year Restricted Funds 2024 £ - - - - Prior Year Restricted Funds 2023 £ - - |
Current year Total Funds 2024 £ 18,335 396,257 7,403 421,995 Prior Year Total Funds 2023 £ 90,175 3,411 |
Prior Year Total Funds 2023 £ - 90,175 3,411 |
|---|---|---|---|---|
| 421,995 | 93,586 | |||
| Prior Year Unrestricted Funds 2023 £ 90,175 3,411 |
||||
| 93,586 | - | 93,586 |
The Photography Foundation Detailed analysis of income and expenditure for the year ended 31 May 2024
22 Other expenditure
| Other expenditure B3b Impairment of loan to trading subsidiary |
Current year Unrestricted Funds 2024 £ (13,378) |
Current year Restricted Funds 2024 £ - - |
Current year Prior Year Total Funds Total Funds 2024 2023 £ £ (13,378) 398,085 |
|---|---|---|---|
| (13,378) | (13,378) 398,085 |
All the expenditure in the prior year was unrestricted.