Charity Registration No. 1190504
TABLE TALK FOUNDATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2021
TABLE TALK FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Mr I Poysden |
|---|---|
| Ms J Aggarwal | |
| Mr N Preston | |
| Mr T R Surgey | |
| Mr D J Wade | |
| Ms T Roberts | |
| Mr M Sargeant | |
| Mr J C Ketley | |
| Mr J Edge | |
| Charity number | 1190504 |
| Principal address | 4 Greenacres Drive |
| Ringmer | |
| East Sussex | |
| BN8 5LZ | |
| Independent examiner | Knill James LLP |
| One Bell Lane | |
| Lewes | |
| East Sussex | |
| BN7 1JU |
TABLE TALK FOUNDATION
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 12 |
TABLE TALK FOUNDATION
TRUSTEES' REPORT FOR THE PERIOD ENDED 31 JULY 2021
The trustees present their annual report and financial statements for the period ended 31 July 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's constitution , the Charities Act 2011 and "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)".
Objectives and activities
The charity's objects are to advance the education of the public, in particular children and young people, in food and nutrition so as to develop their knowledge and understanding of food, food origins and food from different cultures. To relieve persons , who are or have been engaged in the hotel catering and/or hospitality industries , who are in conditions of need on account of poverty or financial hardship.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
Table Talk Foundation was set up in July 2020 mid way through the Covid-19 pandemic with a view to start fundraising once the national restrictions were lifted. Our first fundraising event was held in July 2021 and was a great success raising over £26,500 on the night.
Launching a charity during a pandemic where fundraising events all but stopped wasn’t an accident. We decided to start the charity and make sure we had everything in place to ‘hit the ground running’.
We have also been fortunate enough to be named the beneficiary of a number of grants including a grant from WPA foundation and from Ridgeview Wine Estate who made us their charity partner this year.
Below is overview on fundraising events past and planned:
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Launch event - this was held in July 2021 with 120 guests attending. This was a tough event to plan as there were still several national restrictions in place which meant we had to be very cautious and conscious not to break any rules. As above, this gave us a great start with our fundraising.
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Winter 2021 fundraiser - we have a very special dinner lined up at Gravetye Manor in West Sussex on Tuesday 7 th December 2021 where we have 5 guest chefs cooking a course each. Four out of the five chefs hold Michelin stars which should help us sell out this event quickly. This will also give us exposure in the chef community and should give us some good PR opportunities. We would like to raise £30k on the evening.
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2022 Food festival week - we have plans in place for a week-long festival where 6 Sussex based chefs host a night each in their restaurants with a guest chef. We already have some collaborations lined up including Gareth Ward (2 Michelin stars) and Alex Bond (1 Michelin star). We have partnered with a media company called The Staff Canteen who will help us line up the collaborations as well as sell the sponsorship opportunities. We plan to make this an annual event and something to look forward to for the food community. Our income will be from selling sponsorship and fundraising on each of the nights.
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Other ideas - Golf day, Dinner with Dame Joan Collins at Theatre Royal in Brighton, Art and Food festival.
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TABLE TALK FOUNDATION
TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 JULY 2021
Impact of Covid-19
As a new charity, this didn’t really impact us too much thankfully. However, it has made our purpose more important than ever before.
One of our aims as a charity is to support the local hospitality sector and this sector has been hit harder than most others with restaurants having to close for lengthy periods of time with no income. This has led to the loss of over 660,000 hospitality jobs nationally.
There is also a staffing crisis which is due to both Covid-19 and Brexit. By the work we are doing with Adopt a School, we hope to encourage the younger generation into the sect.
We need to support the hospitality sector in Sussex and we are doing this by the work we do with Table Talk Business Club (CIC) as well as the grants we have given to Hospitality Action.
Financial review
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. 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 current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the period.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
The trustees who served during the period and up to the date of signature of the financial statements were: Mr I Poysden Ms J Aggarwal Mr N Preston Mr T R Surgey Mr D J Wade Ms T Roberts Mr M Sargeant Mr J C Ketley Mr J Edge
Trustees are elected on an annual basis at the main AGM. In addition, the Trustees meet on average t wo times a year. In between meetings they remain in contact via telephone and electronic mail and any necessary decisions can be made without the need for all Trustees to be together at the same time.
The charity is a community interest organisation (CIO) and is governed by its constitution dated 21 July 2020.
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TABLE TALK FOUNDATION
TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 JULY 2021
Grants given to our partner charities
As per our constitution, we have partnered with two other charities who can help us achieve our aims by using their expertise. As a result of our fundraising efforts, we have been able to give the following grants:
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£1,000 to Hospitality Action which provided four Covid emergency grants to families in Sussex;
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£5,000 to Hospitality Action which went to their summer appeal. These funds were used to provide family days out for members of hospitality who couldn’t afford to take their families out for family trips as well as funding school uniforms;
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Have agreed a substantial grant (circa £30,000) to Adopt a School to sponsor a chef-lecturer in Sussex
Plumpton College Partnership
We are in the early stages of partnering with Plumpton Agricultural College and their ‘Agri-Food’ project. This would include Table Talk Foundation providing the funds for our very own community kitchen where we can deliver food education classes to children from across Sussex.
Having a permanent base means we can help teach far more children than if we were to go into their schools. This is a particularly exciting opportunity as the children who visit the kitchen will also be shown around the college and their food production operations including a piggery, a dairy, polytunnels and orchards.
This is a ‘once in a lifetime’ opportunity for us to create a legacy and to really make a positive impact in our community and something we are pursuing to ensure this becomes a reality.
The trustees' r eport was approved by the Board of Trustees.
Mr D J Wade Trustee
16 November 2021
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TABLE TALK FOUNDATION
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF TABLE TALK FOUNDATION
I report to the trustees on my examination of the financial statements of Table Talk Foundation (the charity) for the period ended 31 July 2021.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 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 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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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1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements 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 financial statements to be reached.
Knill James LLP
One Bell Lane Lewes East Sussex BN7 1JU
Dated: 16 November 2021
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TABLE TALK FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE PERIOD ENDED 31 JULY 2021
| Unrestricted | ||
|---|---|---|
| funds | ||
| 2021 | ||
| Notes | £ |
|
| Income and endowments from: | ||
| Donations and gifts | 2 | 6,319 |
| Other trading activities | 3 | 37,499 |
| Other income | 4 | 300 |
| Total income | 44,118 | |
| Expenditure on: | ||
| Raising funds | 5 | 4,947 |
| Charitable activities | 6 | 7,735 |
| Total resources expended | 12,682 | |
| Net income for the year/ | ||
| Net movement in funds | 31,436 | |
| Fund balances at 21 July 2020 | - | |
| Fund balances at 31 July 2021 | 31,436 |
The statement of financial activities includes all gains and losses recognised in the period.
All income and expenditure derive from continuing activities.
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TABLE TALK FOUNDATION
BALANCE SHEET
AS AT 31 JULY 2021
| Notes Fixed assets Tangible assets 11 Current assets Cash at bank and in hand Creditors: amounts falling due within one year Other creditors 12 Net current assets Total assets less current liabilities Income funds Unrestricted funds |
2021 £ 31,752 900 |
£ 584 30,852 31,436 31,436 31,436 |
|---|---|---|
The financial statements were approved by the Trustees on 16 November 2021
Mr D J Wade Trustee
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TABLE TALK FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JULY 2021
1 Accounting policies
Charity information
Table Talk Foundation is a community interest organisation (CIO) and is governed by its constitution dated 21 July 2020.
1.1 Accounting convention
The financial statements 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 charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements 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 Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
The trustees have assessed whether the going concern basis of preparation continues to be appropriate, based on whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. This assessment has been required in the light of the significant uncertainty around the short to medium impact of the Covid-19 virus.
At the time of approving the financial statements the trustees believe that all appropriate measures have been or will be taken to ensure that the charity will be able to continue its operations for at least the next 12 months and thus conclude that the going concern basis remains appropriate.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
1.4 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.
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TABLE TALK FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 JULY 2021
1 Accounting policies
(Continued)
1.5 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 on the portion of the asset’s use.
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the accountancy fees and costs linked to the strategic management of the charity.
1.6 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:
Computers
25% reducing balance
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 .
1.7 Impairment of fixed assets
At each reporting end 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 ) .
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
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.
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TABLE TALK FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 JULY 2021
1 Accounting policies
(Continued)
Basic financial liabilities
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 p aymen ts 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.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity ’s contractual obligations expire or are discharged or cancelled.
2 Donations and gifts
| Unrestricted | ||
|---|---|---|
| funds | ||
| 2021 | ||
| £ | ||
| Donations and gifts | 6,319 | |
| 3 | Other trading activities | |
| Unrestricted | ||
| funds | ||
| 2021 | ||
| £ | ||
| Fundraising events | 37,499 | |
| 4 | Other income | |
| Unrestricted | ||
| funds | ||
| 2021 | ||
| £ | ||
| Other income | 300 |
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TABLE TALK FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 JULY 2021
| 5 6 |
Raising funds Unrestricted funds 2021 £ Fundraising and publicity Advertising 450 Other fundraising costs 4,497 4,947 Charitable activities Charitable Expenditure 2021 £ Depreciation and impairment 195 Grant funding of activities (see note 7) 6,180 Share of governance costs (see note 8) 1,360 7,735 |
|---|---|
7 Grants payable
| Charitable | |
|---|---|
| Expenditure | |
| 2021 | |
| £ | |
| Grants to institutions: | |
| Other | 6,180 |
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TABLE TALK FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 JULY 2021
8 Support costs
| Support costs Governance costs £ £ Independent examination fees - 900 Trustees fees - 436 Bank charges - 24 - 1,360 Analysed between Charitable activities - 1,360 |
2021 £ 900 436 24 1,360 1,360 |
|---|---|
Governance costs includes payments of £ 900 for independent examination fees.
9 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the period.
10 Employees
The average monthly number of employees during the period was:
| 2021 | |
|---|---|
| Number | |
| Total | - |
There were no employees whose annual remuneration was more than £60,000.
11 Tangible fixed assets
| Tangible fixed assets | |
|---|---|
| Computers | |
| £ | |
| Cost | |
| Additions | 779 |
| At 31 July 2021 | 779 |
| Depreciation and impairment | |
| Depreciation charged in the period | 195 |
| At 31 July 2021 | 195 |
| Carrying amount | |
| At 31 July 2021 | 584 |
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TABLE TALK FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2021
| 12 | Other creditors falling due within one year | |
|---|---|---|
| 2021 | ||
| £ | ||
| Accruals and deferred income | 900 |
13 Related party transactions
During the period the charity there were expenses reimbursed to trustees of £436. An amount of £nil was outstanding at the year end and included within creditors.
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