Charity registration number 1190504
TABLE TALK FOUNDATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022
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 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 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 11 |
TABLE TALK FOUNDATION
TRUSTEES' REPORT FOR THE YEAR ENDED 31 JULY 2022
The trustees present their annual report and financial statements for the year ended 31 July 2022.
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
July 2021 to July 2022 was a very good year for Table Talk Foundation which enabled us to raise lots of money for our causes and also open up new opportunities for the future. We have created some great new relationships and have built our brand in Sussex.
From speaking to other charities, we know how hard this year has been for fundraising post Covid and the political situation with the impact of Brexit starting to hit. However, by keeping our events small and targeting high net-worth individuals to attend, we seem to have done well.
Below are some of our key achievements during this year:
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Opened a discussion with Plumpton College to enable us to build a joint training kitchen with them. This will be a base for us and will enable our chef lecturer to really promote ‘field to fork’ cooking as Plumpton have amazing facilities including a dairy, piggery and vegetable patches. This is due to be completed in early 2023.
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Launched our ‘Industry Partner’ scheme where local hospitality venues donate a small percentage from their customers bills to Table Talk Foundation. We are already working with Ridgeview Wine Estate, Golden Lion Pub Group and Etch by Steven Edwards. We see this as a big goal for us moving forward as it creates a regular income stream for the charity.
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Launched our ‘Sussex Showcase’ food week where we had six guest chefs come to cook in Sussex in one week. This really helped raise our profile in the chef community and build relationships. This is vital for us as we often use high-profile chefs for our fundraising events.
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We arranged our Summer and Winter events which raised good amounts of money via auctions and donations.
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 year.
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.
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TABLE TALK FOUNDATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2022
Structure, governance and management
The trustees who served during the year 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 (Resigned 2 January 2023) 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 two 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.
The trustees' report was approved by the Board of Trustees.
Mr D J Wade
Trustee
20 January 2023
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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 year ended 31 July 2022.
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.
MA Filsell FCA on behalf of
Knill James LLP
One Bell Lane Lewes East Sussex BN7 1JU
Dated: 20 January 2023
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TABLE TALK FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2022
| **Unrestricted ** | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2022 | 2021 | ||
| Notes | £ | £ | |
| Income and endowments from: | |||
| Donations and gifts | 2 | 84,131 | 6,319 |
| Other trading activities | 3 | 56,408 | 37,499 |
| Other income | 4 | - | 300 |
| Total income | 140,539 | 44,118 | |
| Expenditure on: | |||
| Raising funds | 5 | 64,193 | 4,947 |
| Charitable activities | 6 | 39,529 | 7,735 |
| Total resources expended | 103,722 | 12,682 | |
| Net income for the year/ | |||
| Net movement in funds | 36,817 | 31,436 | |
| Fund balances at 1 August 2021 | 31,436 | - | |
| Fund balances at 31 July 2022 | 68,253 | 31,436 |
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TABLE TALK FOUNDATION
BALANCE SHEET
AS AT 31 JULY 2022
| 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 |
2022 £ 69,255 1,440 |
£ 438 67,815 68,253 68,253 68,253 |
2021 £ 31,752 900 |
£ 584 30,852 |
|---|---|---|---|---|
| 31,436 | ||||
| 31,436 | ||||
| 31,436 |
The financial statements were approved by the Trustees on 20 January 2023
Mr D J Wade Trustee
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TABLE TALK FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022
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 amounts 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 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
1.3 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 YEAR ENDED 31 JULY 2022
1 Accounting policies
(Continued)
1.4 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.
1.5 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.
1.6 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).
1.7 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 YEAR ENDED 31 JULY 2022
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 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.
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 ** | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Donations and gifts | 84,131 | 6,319 | |
| 3 | Other trading activities |
| **Unrestricted ** | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Fundraising events | 56,408 | 37,499 | |
| 4 | Other income |
| **Unrestricted ** | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2022 | 2021 | |
| £ | £ | |
| Other income | - | 300 |
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TABLE TALK FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2022
5 Raising funds
| **Unrestricted ** | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2022 | 2021 | |
| £ | £ | |
| Fundraising and publicity | ||
| Advertising | 682 | 450 |
| Other fundraising costs | 63,511 | 4,497 |
| 64,193 | 4,947 |
6 Charitable activities
| Charitable | Charitable |
|
|---|---|---|
| Expenditure | Expenditure | |
| 2022 | 2021 | |
| £ | £ | |
| Depreciation and impairment | 146 | 195 |
| Grant funding of activities (see note 7) | 33,444 | 6,180 |
| Share of support costs (see note 8) | 4,170 | - |
| Share of governance costs (see note 8) | 1,769 | 1,360 |
| 39,529 | 7,735 |
7 Grants payable
| Charitable | Charitable |
|
|---|---|---|
| Expenditure | Expenditure | |
| 2022 | 2021 | |
| £ | £ | |
| Grants to institutions: | ||
| Other | 33,444 | 6,180 |
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TABLE TALK FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2022
8 Support costs
| Support costs | ||
|---|---|---|
| Support costs Governance costs £ £ Legal and professional 372 - Bank charges 3,731 - Printing and stationery 34 - Travelling expenses 33 - Independent examination fees - 1,620 Trustees fees - 149 4,170 1,769 Analysed between Charitable activities 4,170 1,769 |
2022 Support costs Governance costs £ £ £ 372 - - 3,731 24 - 34 - - 33 - - 1,620 - 900 149 - 436 5,939 24 1,336 5,939 - 1,360 |
2021 £ - 24 - - 900 436 |
| 1,360 | ||
| 1,360 |
Governance costs includes payments of £1,440 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 year.
10 Employees
The average monthly number of employees during the year was:
| 2022 | 2021 | |
|---|---|---|
| Number | Number | |
| Total | - | - |
There were no employees whose annual remuneration was more than £60,000.
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TABLE TALK FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2022
| 11 | Tangible fixed assets | ||
|---|---|---|---|
| Computers | |||
| £ | |||
| Cost | |||
| At 1 August 2021 | 779 | ||
| At 31 July 2022 | 779 | ||
| Depreciation and impairment | |||
| At 1 August 2021 | 195 | ||
| Depreciation charged in the year | 146 | ||
| At 31 July 2022 | 341 | ||
| Carrying amount | |||
| At 31 July 2022 | 438 | ||
| At 31 July 2021 | 584 | ||
| 12 | Other creditors falling due within one year | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Accruals and deferred income | 1,440 | 900 |
13 Related party transactions
During the year the charity there were expenses reimbursed to trustees of £149. An amount of £nil was outstanding at the year end and included within creditors.
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