**Charity registration number 1190504**
## **TABLE TALK FOUNDATION**
## **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 JULY 2023**
## **TABLE TALK FOUNDATION**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|Ms J Aggarwal||
|---|---|---|
||Mr N Preston||
||Mr T R Surgey||
||Mr D J Wade||
||Ms T Roberts||
||Mr J C Ketley||
||Mr J Edge||
||Mr A Wolde-Lule|(Appointed 4 April 2023)|
||Mr T Webster|(Appointed 4 April 2023)|
|**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 - 12|
## **TABLE TALK FOUNDATION**
## **TRUSTEES' REPORT** _**FOR THE YEAR ENDED 31 JULY 2023**_
The trustees present their annual report and financial statements for the year ended 31 July 2023.
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**
We have continued our growth since launching in July 2020 and this past year has seen us continue to grow and delivering on our ambitions as detailed above.
Some key highlights are:
- Opening our training kitchen at Plumpton College in partnership with Adopt a School Trust in March. We have also raised enough funds to ensure all the schools we are currently working with can spend a day with us on the farm and in the kitchen.
- Our fundraising events have continued to be successful even during the current tough economic times. We delivered our second ‘Sussex Showcase’ which is becoming our flagship event. We did and art x food collaboration, our Summer Party and our first ever Balthazar Banquet. We are committed to running high quality, smaller events with a big emphasis on giving our guests a unique experience.
- We have been the chosen charity for a number of events in the community. These include Focus Foundations Winter Ball, West Hove Golf Club captains charity and Sussex Gin Festival.
- We have grown our hospitality support sessions to continue our support of the hospitality community. These are fully funded training sessions for hospitality leaders to upskill and help them become better leaders to help retain staff.
- We have recruited two new trustees this year to help us deliver our mission. These both add different expertise to the team.
- We have delivered practical food education classes to over 3200 children in Sussex this calendar year. We have also recruited renown chef, James Golding, on a consultancy basis to help us grow our food education program.
## **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.
- 1 -
## **TABLE TALK FOUNDATION**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2023**_
## **Plans for future periods**
After nearly three years of fast growth, the next 12 months will involve assessing our impact so far and refining our goals and ambitions.
We have a commitment to ensure all the schools we are working with get to experience a day on the farm at Plumpton and in our kitchen.
We also have plans to open a second cookery school facility, ideally located in Brighton/Hove so more central and accessible compared to Plumpton. This will be a fundraising facility aiming at private events, corporate events and couples cooking classes.
Finally, we are in talks with Plumpton College about developing our own apprenticeship programme for young and aspiring chefs. We want this to become the most respected qualification in the UK.
## **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 (Resigned 1 February 2024) 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 Mr A Wolde-Lule (Appointed 4 April 2023) Mr T Webster (Appointed 4 April 2023)
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**
11 April 2024
- 2 -
## **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 2023.
## **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**
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Chartered Accountants, which is one of the listed bodies.
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:
- 1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
- 2 the financial statements do not accord with those records; or
- 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.
Stewart Hunt FCCA on behalf of
## **Knill James LLP**
One Bell Lane Lewes East Sussex BN7 1JU
Dated: 13 May 2024
- 3 -
## **TABLE TALK FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 JULY 2023**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2023**
**Notes**
**£**
**£**
**Income from:**
Donations and gifts
**2**
94,256
135,000
Other trading activities
**3**
85,535
-
**Total income**
179,791
135,000
**Expenditure on:**
Raising funds
**4**
111,950
-
Charitable activities
**5**
84,300
-
**Total resources expended**
196,250
-
**Net (expenditure)/income for the year/**
**Net movement in funds**
(16,459)
135,000
Fund balances at 1 August 2022
68,253
-
**Fund balances at 31 July 2023**
51,794
135,000|**Total Unrestricted**
**funds**
**2023**
**2022**
**£**
**£**
229,256
84,131
85,535
56,408
314,791
140,539
111,950
64,193
84,300
39,529
196,250
103,722
118,541
36,817
68,253
31,436
186,794
68,253|**Total Unrestricted**
**funds**
**2023**
**2022**
**£**
**£**
229,256
84,131
85,535
56,408
314,791
140,539
111,950
64,193
84,300
39,529
196,250
103,722
118,541
36,817
68,253
31,436
186,794
68,253|
|---|---|---|
|||140,539|
|||64,193
39,529|
|||103,722|
|||36,817
31,436|
|||68,253|
- 4 -
## **TABLE TALK FOUNDATION**
## **BALANCE SHEET**
## _**AS AT 31 JULY 2023**_
|**Notes**
**Fixed assets**
Tangible assets
**10**
**Current assets**
Debtors
**11**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
Other creditors
**12**
Net current assets
**Total assets less current liabilities**
**The funds of the charity**
Restricted income funds
**13**
Unrestricted funds|**2023**
**£**
10,000
198,478
208,478
181,885|**£**
160,201
26,593
186,794
135,000
51,794
186,794|**2022**
**£**
-
69,255
69,255
1,440|**£**
438
67,815|
|---|---|---|---|---|
|||||68,253|
|||||-
68,253|
|||||68,253|
The financial statements were approved by the trustees on 11 April 2024
Mr D J Wade **Trustee**
- 5 -
## **TABLE TALK FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 JULY 2023**_
## **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.
- 6 -
## **TABLE TALK FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2023**_
## **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:
Plant and equipment 15 years straight line Fixtures and fittings 25% reducing balance 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.
- 7 -
## **TABLE TALK FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2023**_
## **1 Accounting policies**
## **(Continued)**
## **1.8 Financial instruments**
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**_
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**_
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**|**Restricted**|**Total **|**Unrestricted**|
|---|---|---|---|---|
||**funds**|**funds**||**funds**|
||**2023**|**2023**|**2023**|**2022**|
||**£**|**£**|**£**|**£**|
|Donations and gifts|94,256|135,000|229,256|84,131|
- 8 -
## **TABLE TALK FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 JULY 2023**_
|**3**
**4**
**5**
**6**|**Other trading activities**
**Unrestricted Unrestricted**
**funds**
**funds**
**2023**
**2022**
**£**
**£**
Fundraising events
85,535
56,408
**Raising funds**
**Unrestricted Unrestricted**
**funds**
**funds**
**2023**
**2022**
**£**
**£**
Fundraising and publicity
Advertising
17,438
682
Other fundraising costs
94,512
63,511
111,950
64,193
**Charitable activities**
**Charitable**
**Expenditure**
**Charitable**
**Expenditure**
**2023**
**2022**
**£**
**£**
Depreciation and impairment
11,845
146
Grant funding of activities (see note 6)
39,000
33,444
Share of support costs (see note 7)
30,741
4,170
Share of governance costs (see note 7)
2,714
1,769
84,300
39,529
**Grants payable**
**Charitable**
**Expenditure**
**Charitable**
**Expenditure**
**2023**
**2022**
**£**
**£**
Grants to institutions:
Other
39,000
33,444|
|---|---|
- 9 -
## **TABLE TALK FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2023**_
## **7 Support costs**
|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Legal and professional
3,660
-
Bank charges
1,388
-
Printing and stationery
3,854
-
Other support costs
673
-
Consulting
3,340
-
Staff training
3,600
-
Postage and courier
1,106
-
Insurance
704
-
Trustees' remuneration
12,416
-
Independent examination
fees
-
2,017
Trustees fees
-
697
30,741
2,714
Analysed between
Charitable activities
30,741
2,714|**2023**
**Support**
**costs**
**Governance**
**costs**
**£**
**£**
**£**
3,660
372
-
1,388
3,731
-
3,854
34
-
673
33
-
3,340
-
-
3,600
-
-
1,106
-
-
704
-
-
12,416
-
-
2,017
-
1,620
697
-
149
33,455
4,170
1,769
33,455
4,170
1,769|**2022**
**£**
372
3,731
34
33
-
-
-
-
-
1,620
149|
|---|---|---|
|||5,939|
|||5,939|
Governance costs includes payments of £1,584 for independent examination fees.
## **8 Trustees**
One of the trustees received remuneration from the charity during the year.
## **9 Employees**
The average monthly number of employees during the year was:
|**2023**|**2022**|
|---|---|
|**Number**|**Number**|
|1|-|
There were no employees whose annual remuneration was more than £60,000.
- 10 -
## **TABLE TALK FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 JULY 2023**_
|**10**
**Tangible fixed assets**
**Plant and**
**equipment**
**Fixtures and**
**fittings**
**Computers**
**£**
**£**
**£**
**Cost**
At 1 August 2022
-
-
779
Additions
170,000
1,608
-
At 31 July 2023
170,000
1,608
779
**Depreciation and impairment**
At 1 August 2022
-
-
341
Depreciation charged in the year
11,333
402
110
At 31 July 2023
11,333
402
451
**Carrying amount**
At 31 July 2023
158,667
1,206
328
At 31 July 2022
-
-
438
**11**
**Debtors**
**2023**
**Amounts falling due within one year:**
**£**
Other debtors
10,000
**12**
**Other creditors falling due within one year**
**2023**
**£**
Other creditors
8,500
Accruals and deferred income
173,385
181,885|**Total**
**£**
779
171,608|
|---|---|
||172,387|
||341
11,845|
||12,186|
||160,201|
||438|
||**2022**
**£**
-|
||**2022**
**£**
-
1,440|
||1,440|
## **13 Restricted funds**
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
||**At**|**1**|**August**|**Incoming**|**At**|**31 July**|
|---|---|---|---|---|---|---|
||||**2022**|**resources**||**2023**|
||||**£**|**£**||**£**|
|Plumpton College Kitchen|||-|135,000||135,000|
- 11 -
## **TABLE TALK FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2023**_
## **14 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
||**At 1**|**August**|**Incoming**|**Resources**|**At 31 July**|
|---|---|---|---|---|---|
|||**2022**|**resources**|**expended**|**2023**|
|||**£**|**£**|**£**|**£**|
|General funds||68,253|179,791|(196,250)|51,794|
|**Previous year:**|**At 1**|**August**|**Incoming**|**Resources**|**At 31 July**|
|||**2021**|**resources**|**expended**|**2022**|
|||**£**|**£**|**£**|**£**|
|General funds||31,436|140,539|(103,722)|68,253|
|**Analysis of net assets between funds**||||||
||||**Unrestricted**|**Restricted**|**Total**|
||||**funds**|**funds**||
||||**2023**|**2023**|**2023**|
||||**£**|**£**|**£**|
|**Fund balances at 31 July 2023 are represented**|**by:**|||||
|Tangible assets|||(9,799)|170,000|160,201|
|Current assets/(liabilities)|||61,593|(35,000)|26,593|
||||51,794|135,000|186,794|
||||**Unrestricted**|**Restricted**|**Total**|
||||**funds**|**funds**||
||||**2022**|**2022**|**2022**|
||||**£**|**£**|**£**|
|**Fund balances at 31 July 2022 are represented**|**by:**|||||
|Tangible assets|||438|-|438|
|Current assets/(liabilities)|||67,815|-|67,815|
||||68,253|-|68,253|
## **15 Analysis of net assets between funds**
## **16 Related party transactions**
During the year the charity reimbursed expenses to trustees of £697. Additionally the charity incurred expenses of £3,340 of consultancy fees to a trustee, an amount of £nil was outstanding at the year end.
- 12 -