## **TAAG CHARITABLE INCORPORATED ORGANISATION**
Trustees Annual Report and Accounts
Year ended 31[st] March 2023
Registered Charity Number: 1188013
Page 1
## **TAAG CHARITABLE INCORPORATED ORGANISATION**
Year Ended 31[st] March 2023
|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 registered charity number 1188013**
## **Trustees Annual Report**
Year ended 31st March 2023
The trustees present their annual report covering the period from 1[st] April 2022 to 31st March 2023.
## **Objects and Activities**
1) Promote and advance the visual arts in all its forms for the public benefit 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.
The organisation is governed by its constitution which is regularly reviewed and which establishes its powers and objectives.
For 11 years the TAAG building was operated by a Community Interest Company with five volunteer directors. Four TAAG CIC directors are now the trustees of TAAG CIO, the remaining director having moved out of the area.
The CIC occupied the current building on a leased basis from the owners, the District Council, from whom the building was purchased in October 2020.
The early days of occupation concentrated on raising essential funds to start refurbishment of the building. Because of the effects of Covid 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.
Continued fundraising and grant applications, including £5000 from The Foyle Foundation, have resulted in further refurbishment of the ground floor facilities and the installation of infrared heating, LED lighting, fire board protection to walls and the fitting of fire doors.
Additional work to complete the accessible toilet and redecoration will allow us to reopen the building later in the Summer of 2023.
Because of the closure of the main building for such a lengthy period and lack of availability of major funding we have revised the timescale of our refurbishment programme. TAAG own the building and it will remain an asset for the town for the future, so we feel that a delay in final completion is not as important as getting the facilities right and fit for purpose.
The trustees have used the newsletter and social media to keep members of the public informed of our intentions to maintain interest and support.
Page 4
Our Social Media and the weekly TAAG newsletter is used for this and also for advertising events in and around the area as a welcome service to the community.
The trustees recognise and appreciate the invaluable help that so many of our volunteers have given us over the past year in helping us in a variety including preparing for the ongoing refurbishment.
The annual TRAIL sculpture exhibition proceeded as usual and attracted many visitors to the town and maintained visibility of our ethos and aims.
We also recognise the generous help that the lease of the facilities of the ex Beachcomber café by Teignbridge District Council was to us, enabling a source of income during the closure of the TAAG centre. This also allowed us to continue with a number of exhibitions and workshops for artists and ongoing support for those suffering mental health issues in what were difficult times for many.
The ongoing relationship with Pavilions Teignmouth has also been valuable in offering us exhibition space during some of the year.
The choice of art curated into our programmes and workshops 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.
The key financial objective of TAAG is to ensure that the building is financially supported and this has been achieved from donations, grant funding and exhibition income so far. We also hope that grant funding opportunities for further refurbishment will be more plentiful in the coming year.
Having monitored the performance over the past 12 months and projected income and expenditure over the foreseeable future the trustees have a reasonable expectation that the charity has adequate resources to continue operation and the reopening of the centre will improve the financial situation.
The existing trustees also feel that the time has come to look to increasing the number of trustees to enable better control of the charity and bring in fresh ideas and suggestions to the board. New trustees are given a copy of the Constitution and the latest annual report and accounts upon their first appointment. Potential trustees are invited to attend a trustees meeting prior to being appointed as a trustee.
The coming year will consolidate the activities of the centre and expand the usage of the building. Additional funding will be sought to be able to commence work on the building roof at some point in the new year.
This report was approved by the board of trustees of TAAG CIO on 11[th] October 2023 and signed on their behalf by -
Elisabeth Ann Lockyear
Chair TAAG CIO Dated 11[th] October 2023
Page 5
## **TAAG CHARITABLE INCORPORATED ORGANISATION STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING PROFIT & LOSS ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023**
|**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
Rates and water
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
ACE Jubilee event expenses
Sundry expenses
Depreciation of fixtures and fittings|**£**
48%
-
663
1,459
263
2,638
43
162
488
784
305
-
550
239
-
574
6,182
205
29|**2023**
**£**
36,659
-
16,395
4,095
-
-
-
57,149
(29,458)
27,691
6,750
348
(14,584)|**£**
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)|
Net surplus / (deficit) for the year
20,205
36,635
Page 6
## **TAAG CHARITABLE INCORPORATED ORGANISATION**
## **BALANCE SHEET AS AT 31 MARCH 2023**
|**BALANCE SHEET**
**AS AT 31 MARCH 2023**||||||
|---|---|---|---|---|---|
||||**2023**||**2022**|
||**Notes**|**£**|**£**|**£**|**£**|
|**Fixed assets**||||||
|Tangible assets|**4**||212,601||158,350|
||||212,601||158,350|
|**Current assets**||||||
|Debtors|**5**|9,431||63||
|Cash at bank||4,934||62,298||
|||14,365||62,361||
|**Creditors: amounts falling**||||||
|**due within one year**|**6**|(1,600)||(5,550)||
|**Net current liabilities**|||12,765||56,811|
|**Long term liabilities**|**7**||-||(10,000)|
|**Total assets less current liabilities**|||225,366||205,161|
|**Capital and Reserves**||||||
|Unrestricted funds|**8**||225,366||205,161|
|Restricted funds|||-||-|
|**Total funds**|||225,366||205,161|
For the financial year ended 31 March 2023 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 11 October 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 2023**
## **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.
## **1.1 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.
## **1.2 Taxation**
The charity is not subject to taxation.
|**2**
**Operating Surplus**
Operating surplus is stated after charging:
Depreciation of tangible assets|**2023**
**2022**
**£**
**£**
29
36|
|---|---|
## **3 Grants**
During the year, grants totalling £6,750 were received. Of these, £6,000 was restricted and related to the provision of a community event to celebrate the Queen's Platinum Jubilee. The grants are recognised in the Statement of Financial Activities as other income and the associated costs recognised as administrative expenses.
A further £9,431 restricted grant was outstanding at the year end relating to capital expenditure that had already been incurred in line with the terms of the grant. As such it is recognised within fixed assets and accrued income.
A further grant for £5,000 has been released from deferred income and recognised within fixed assets as the capital improvement work has been completed this year.
Page 8
## **TAAG CHARITABLE INCORPORATED ORGANISATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023**
## **3 Grants (continued)**
Grants were received from the following providers;
|Teignbridge District Council
Devon County Council|£
750
6,000 Restricted
6,750|
|---|---|
## **4 Tangible fixed assets**
|**Cost**
At 1 April 2022
Additions
At 31 March 2023
**Depreciation**
At 1 April 2022
Charge for the year
At 31 March 2023
**Net Book Value**
At 31 March 2023
At 31 March 2022|**Property**
**£**
158,206
54,280
212,486
-
-
-
212,486
158,206|**Fixtures,**
**fittings &**
**equipment**
**£**
180
-
180
36
29
65
115
144|**Total**
**£**
158,386
54,280
212,666|
|---|---|---|---|
||||36
29|
||||65|
||||212,601|
||||158,350|
Page 9
## **TAAG CHARITABLE INCORPORATED ORGANISATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023**
|**5**
**Debtors**
Trade debtors
Accrued income
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 2022
Surplus for the year
Balance at 31 March 2023|**2023**
**2022**
**£**
**£**
-
63
9,431
-
-
-
9,431
63
**2023**
**2022**
**£**
**£**
1,050
-
550
550
-
5,000
-
-
1,600
5,550
**2023**
**2022**
**£**
**£**
-
10,000
-
10,000
**Unrestricted**
**funds**
**£**
205,161
20,205
225,366|**2022**
**£**
63
-
-|
|---|---|---|
|||63|
|||**2022**
**£**
-
550
5,000
-|
|||5,550|
|||**2022**
**£**
10,000|
|||10,000|
|||225,366|
Page 10
CHARITY COMMISSION
FOR ENGLAND AND WALES
Independent examinerfs
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
lif any)
1188013
31 March 2023
Set out on pages
6-10 (Statement 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 2023.
Responsibilities and As the charity trustees of the Trust, you are responsible for the preparation
basls of report of the accounts in accordance with the requirements of the Charities Act
2011 (tthe Act.).
I report in respect of my examination of the Trust'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 14515)(b) of Ihe Act.
I have completed my examination. I confim that no material matters have
come to my attention in connection with the examination which gives me
cause to believe that in, any material respect..
accounting records were not kept in accordance with section 130 of
the Act or
the accounts do not cord with the accounting records
Independent
examiner's statement
I have no COnrn$ 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 professlonal
qualiflcatlon(s) or body
(if any):
ATh
Address:
180 Mincinglake Road, Exeter, Devon, EX4 7DS
Section B
Disclosure
Only complete if the examiner needs to highlight matters of concern (see CC32,
Independent examination of Charity accounts-. directions and guidance for
examin8rs).
IER
October 2018
Page 11
Glve here brlef detsils of
any items that the
examinerwishes to
disclose.
None
IER
October 2018
Page 12