## **TAAG CHARITABLE INCORPORATED ORGANISATION**
Trustees First Annual Report and Accounts
Year ended 31[st] March 2022
Registered Charity Number: 1188013
Page 1
## **TAAG CHARITABLE INCORPORATED ORGANISATION**
Year Ended 31[st] March 2022
|Contents|Page|
|---|---|
|Administrative information|3|
|Structure and Management|3|
|Trustee’s Annual Report|4|
|Financial Information|6|
|Independent Examiners Report|11|
Page 2
## **TAAG�CHARITABLE INCORPORATED ORGANISATION**
## **Administrative�Information�**
The�Charity�is�known�as�TAAG�CIO���
and�may�also�be�known�as�Teignmouth�Arts�Action�Group�CIO�
Registered�address:� TAAG�Arts�&�Community�Centre� 4/5�Northumberland�Place� Teignmouth� Devon� TQ14�8DD�
Registration�Number:� 1188013�
Trustees:��� Elisabeth�Ann�Lockyear�–�Chair� Thomas�Roger�Smith���Trustee� Julia�Caroline�Vella�–�Trustee� Stephen�Anthony�Brown�–�Trustee��
## **Structure�and�Management�**
TAAG�CIO�is�a�Charitable�Incorporated�Organisation�governed�by�a�constitution�based�on�� the�CIO�Constitution�and�was�adopted�on�9[th] �September�2019�–�revised�24[th] �January�2020.�
The�Charity�can�appoint�a�maximum�of�9�trustees�and�a�minimum�of�3�and�was�formed�with� 5�initial�trustees�who�were�the�directors�of�the�Community�Interest�Company�that�had� operated�in�the�building�prior�to�its�conversion�to�TAAG�CIO.�
The�initial�appointment�for�all�4�trustees�was�for�3�years.�Additional�trustees�will�also�be� elected�initially�for�3�years�
New�trustees�will�be�appointed�as�required�to�help�conformity�with�the�constitution�and� selected�in�line�with�Charity�guidance�with�regard�to�their�skills,�knowledge�and�experience� related�to�the�charity.��
The�day�to�day�management�currently�rests�with�the�Chair�and�the�other�trustees�and�is� likely�to�remain�this�way�until�the�proposed�refurbishment�is�complete�which�will�result�in�a� suitably�increased�income.��All�trustees�and�other�helpers�are�volunteers�and�receive�no� financial�benefits.�
Page 3Page 3
## **TAAG CHARITABLE INCORPORATED ORGANISATION**
## **Trustees Annual Report**
Year ended 31st March 2022
The trustees present their second annual report covering the period from 1[st] April 2021 to 31st March 2022.
## **Objects and Activities**
For the public benefit to:
1) Promote and advance the visual arts in all its forms in particular but not exclusively by: a) promoting and exhibiting works of artistic excellence; and b) providing gallery and studio space and other facilities for the creation and public display of work
2) Advance the education of the public in the arts and crafts in particular but not exclusively by the provision of a community arts centre, workshops, classes and art sessions.
TAAG CIO is a voluntary organisation based in Teignmouth in Devon.
For 12 years the TAAG building was operated by a Community Interest Company with five volunteer directors. These directors are now the trustees of TAAG CIO.
The CIC occupied the current building on a leased basis from the owners, the District Council, from whom the building was eventually purchased and the TAAG became a CIO in February 2020.
Part of the sale conditions by the District Council included some modifications to the building which left it without any toilet facilities or staircase access to the first and second floors.
The early days of occupation concentrated on raising essential funds to start refurbishment of the building. Being at a time when the effects of Covid restriction were still resulting in restrictions and delays in essential services such as Council planning and Building Control we were unable to make the progress we had anticipated.
The final planning approval was eventually given in December 2021. Building regulations approval has taken longer and it wasn’t until early 2022 that we were able to get permission to commence building work.
In order to reduce eventual timescales the trustees themselves and a local contractor were employed upon internal demolition and realignment not affected by building regulations.
The successful Crowdfunder reported last year provided the ability to bring in an electrician and carpenter to commence some work. A supporter also provided a temporary staircase to allow access to the upper floors.
Page 4
The agreement with the District Council to allow us the use of a disused building on the seafront for the Summer season was extended until after the end of the financial year in March 2022 which allowed us to continue the pop up exhibitions providing additional income and helped to make gallery space for the public display of local artists work and provide some workshops during the school holidays.
All these exhibitions were freely available to members of the public.
Because of the closure of the main building for a lengthy period and lack of major funding we have had to revise the timescale of our refurbishment programme and we were not able to reopen during the current financial year. Whilst this was disappointing the trustees will be making every effort to secure more funding once grant funding becomes more available after the relaxation of Covid regulations. As TAAG now own the building and intend it to remain an asset for the town for the future we believe that a delay in final completion is not as important as getting the facilities right and fit for purpose.
The trustees have made efforts to keep interest in TAAG and our plans for the future were published to keep members of the public informed of our intentions.
Where possible and safe to do so we have involved our supporters in the progress and have appreciated their invaluable help in helping us to clear out unwanted debris and preparing for the refurbishment that will take place later.
The annual TRAIL sculpture exhibition was able to proceed as usual and attracted many visitors to the town and maintained visibility of what we support and encourage.
It is anticipated that 2022 - 23 will not be as difficult for securing funding and the trustees hope that they will be able to commence work on the ground floor with the initial strengthening of the structure by the addition of steel supporting beams in vital areas.
If the temporary lease on the sea front building is allowed to continue until at least the end of the financial year it will maintain an income source and allow the continuation of exhibitions and workshops for artists and support for mental, health in these difficult times.
It will also allow us to continue providing gallery and workshop space for the public benefit.
The choice of art curated into our programmes is intended to appeal to as wide a public audience as possible, to reflect diversity, accessibility and inclusivity and designed to develop an insight and appreciation of the arts for our communities
Signed on behalf of TAAG CIO
Elisabeth Ann Lockyear 18 January 2023
Chair TAAG CIO
Page 5
## **TAAG CHARITABLE INCORPORATED ORGANISATION STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING PROFIT & LOSS ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2022**
|**Income**
Sales
Donated sales
Donations
Gallery rental
Raffles
Exhibitions
Gift aid
**Cost of sales**
Artists reimbursements
**Gross surplus**
Other income - grants
Other income - sundry
**Administrative expenses**
Wages and salaries
Water rates
Insurance
Light and heat
Repairs and maintenance
Cleaning
Printing, postage and stationary
Advertising
Telephone & broadband
Computer running costs
Professional fees
Accountancy
Bank charges and interest
Loan interest
Volunteers expenses
Sundry expenses
Depreciation of fixtures and fittings|**£**
42%
-
776
1,225
321
1,621
174
227
848
825
279
-
550
59
-
808
909
36|**2022**
**£**
57,330
5,096
12,059
7,170
-
-
-
81,655
(47,569)
34,086
10,667
540
(8,658)|**£**
100%
-
319
903
706
781
184
37
299
673
264
-
550
254
-
1,227
79
-|**2021**
**£**
6,187
703
149,550
245
380
975
8,491|
|---|---|---|---|---|
|||||166,531
-|
|||||166,531
8,271
-
(6,276)|
Net surplus / (deficit) for the year
36,635
168,526
Page 6
## **TAAG CHARITABLE INCORPORATED ORGANISATION**
## **BALANCE SHEET AS AT 31 MARCH 2022**
|**BALANCE SHEET**
**AS AT 31 MARCH 2022**||||||
|---|---|---|---|---|---|
||||**2022**||**2021**|
||**Notes**|**£**|**£**|**£**|**£**|
|**Fixed assets**||||||
|Tangible assets|**4**||158,350||151,675|
||||158,350||151,675|
|**Current assets**||||||
|Debtors|**5**|63||-||
|Cash at bank||62,298||32,401||
|||62,361||32,401||
|**Creditors: amounts falling**||||||
|**due within one year**|**6**|(5,550)||(5,550)||
|**Net current liabilities**|||56,811||26,851|
|**Long term liabilities**|**7**||(10,000)||(10,000)|
|**Total assets less current liabilities**|||205,161||168,526|
|**Capital and Reserves**||||||
|Unrestricted funds|**8**||205,161||168,526|
|Restricted funds|||-||-|
|**Total funds**|||205,161||168,526|
For the financial year ended 31 March 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
The trustees have not required the charity to obtain an audit of the financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to small companies regime and in accordance with FRS102 SORP.
The financial statements were approved by the board of directors and are signed on its behalf.
Approved by the Board for issue on 18 January 2023
Elisabeth Ann Lockyear Thomas Roger Smith **Trustee Trustee Charity registration number 1188013**
Page 7
**TAAG CHARITABLE INCORPORATED ORGANISATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **1 Accounting policies**
## **Charity information**
TAAG Charitable Incorporated Organisation is a charity registered in England and Wales. The registered office is TAAG Arts & Community Centre, 4-5 Northumberland Place, Teignmouth, Devon, TQ14 8DD.
## **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.
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 credited or charged to profit or loss.
## **Taxation**
The charity is not subject to taxation.
|**2**
**Operating Surplus**
Operating surplus is stated after charging:
Depreciation of tangible assets|**2022**
**2021**
**£**
**£**
36
-|
|---|---|
## **3 Grants**
During the year, grants totalling £37,439 were received. Of these, £26,772 was restricted and related to capital improvements, as such they are recognised within fixed assets. The remaining £10,667 was unrestricted and is recognised in the Statement of Financial Activities as other income.
Page 8
## **TAAG CHARITABLE INCORPORATED ORGANISATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022**
## **3 Grants (continued)**
|Grants were received from the following|providers;|
|---|---|
||£|
|Teignbridge District Council|10,667|
|The Architectural Heritage Fund|26,772 Restricted|
||37,439|
## **4 Tangible fixed assets**
|**Tangible fixed assets**||||
|---|---|---|---|
|**Cost**
At 1 April 2021
Additions
At 31 March 2022
**Depreciation**
At 1 April 2021
Charge for the year
At 31 March 2022
**Net Book Value**
At 31 March 2022
At 31 March 2021|**Property**
**£**
151,675
6,531
158,206
-
-
-
158,206
151,675|**Fixtures,**
**fittings &**
**equipment**
**£**
-
180
180
-
36
36
144
-|**Total**
**£**
151,675
6,711
158,386|
||||-
36|
||||36|
||||158,350|
||||151,675|
Page 9
## **TAAG CHARITABLE INCORPORATED ORGANISATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022**
|**5**
**Debtors**
Trade debtors
Other debtors
**6**
**Creditors: amounts falling due within one year**
Trade creditors
Other creditors
Deferred income
Loans
**7**
**Creditors: amounts falling due after one year**
Loans
**8**
**Statement of movements on total funds**
Balance as at 1 April 2021
Surplus for the year
Balance at 31 March 2022|**2022**
**2021**
**£**
**£**
63
-
-
-
63
-
**2022**
**2021**
**£**
**£**
-
-
550
550
5,000
5,000
-
-
5,550
5,550
**2022**
**2021**
**£**
**£**
10,000
10,000
10,000
10,000
**Unrestricted**
**funds**
**£**
168,526
36,635
205,161|**2021**
**£**
-
-|
|---|---|---|
|||-|
|||**2021**
**£**
-
550
5,000
-|
|||5,550|
|||**2021**
**£**
10,000|
|||10,000|
|||205,161|
Page 10
CHARITY COMMISSION
FOR ENGLAND AND WALES
Independent examiner's
report on the accounts
Section A
Independent Examiner's Report
Report to the trusteesl
members of
TAAG CHARITABLE INCORPORATED ORGANISATION
On accounts for the
period ended
Charity no
{If any)
1188013
31 March 2022
Set out on pages
6-10 (Stalement of Financial Activities & Balance Sheet)
I report to the trustees on my examination of the accounts of the above
charity {"the Trust") for the year ended 31 March 2022.
Responsibillties and As the charity trustees of the Tnjst, you are responsible for the preparation
basls of report of the accounls in accordance with the requirements of the Charities Act
2011 {he Act"}.
I report in respect of my examination of the Trusvs 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 Charty Commission
under section 145(5}{b) of the Act.
I have completed my examination. I confirm that no material matters have
come to my attention in connection with the examination which gives me
cause to believe thal in, any material respect:
accounting records were not kept in accordan with section 130 of
the Act or
the accounts do not accord with the accounting records
Independent
examinerfs statement
I have no concerns and have come across no other matters in connection
with the examination to which attention should be drawn in order to enable a
proper understanding of the accounts to be reached.
Signed:
Date:
Name:
Nichola Ash
Relevant professional
qualificationls> or body
Irf any):
ATT
Address:
180 Mincinglake Road. Exeter, Devon, EX4 7DS
Section B
Disclosure
Only complete if the examiner needs to highlight matters of concein (see CC32.
Independent examination of ¢harity accounls.. directions and guidance for
examiners).
IER
October 2018
Page 11
Give here brief details of
any items that the
examiner viishes to
disclose.
None
IER
October 2018
Page 12