Charity Number: 1191385
THE OLD WATERWORKS
UNAUDITED FINANCIAL ACCOUNTS
YEAR ENDED 31 DECEMBER 2022
LEVICKS
Chartered Accountants and Business Advisers 61 London Road
Maidstone Kent ME16 8TX
THE OLD WATERWORKS YEAR ENDED 31 DECEMBER 2022
| CONTENTS | |
|---|---|
| Page | |
| Trustees report | 1 |
| Independent examiner’s report | 3 |
| General (unrestricted) receipts and payments account | 4 |
| Survey Support Designated (unrestricted) receipts and payments account | 5 |
| How To Make A Bomb (restricted) receipts and payments account | 6 |
| Vanishing Point (restricted) receipts and payments account | 7 |
| Precarious Straits (restricted) receipts and payments account | 8 |
| Taking Space, Sharing Space, Taking Care (restricted) receipts and | |
| payments account | 9 |
| An English Garden: How To Make A Bomb – Estuary 2021 (restricted) | |
| receipts and payments account | 10 |
| Ace Development Project receipts and payments account | 11 |
| Statement of assets and liabilities | 12 |
| Notes to the accounts | 14 |
THE OLD WATERWORKS
PAGE 1
TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2022
The trustees have pleasure in submitting their report together with the accounts for the year ended 31 December 2022.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Old Waterworks is a small charity registered with the Charity Commission on 21 September 2020 as a Foundation Charitable Incorporated Organisation registered number 1191385. It is governed by its constitution.
The registered office is North Road, Westcliff on Sea, Essex, SS0 7AB.
As a Foundation CIO, the trustees are the only voting members of the charity.
The maximum permitted number of trustees is eight. New trustees are appointed by a resolution passed at a properly convened meeting of the existing charity trustees. In selecting individuals for appointment as new trustees, the existing trustees are required to have regard to the skills, knowledge and experience needed for the effective administration of the CIO. Other than the first trustees, appointment is for a term of three years.
TRUSTEES
The trustees who served the charity during the year were:
Elsa Thompson Chair Michael Ekers Treasurer Jasbir Dhillon Mark Wilson Claire Gallagher Ellen Greig David Watkins
OBJECTIVES AND ACTIVITIES
The objects of the charity are to provide arts and culture for the benefit of the public by:-
-
A. Creating high quality arts and cultural activities for Southend-on-Sea.
-
B. Contributing to the advancement of the arts and culture in the area by providing opportunities for Southend-on-Sea residents and visitors to become involved in arts and cultural activities.
-
C. Supporting the development of artists, particularly artists who face social and/or economic barriers to realising their potential.
During the year an Arts Council England project was undertaken by The Old Waterworks to provide both development support for three studio artists and organisational support for the board and management team. The studios hosted two open event studios over this period, secured mentoring for the three artists supported, delivered 20 care packages for vulnerable or shielding members of the community, delivered a new website, and undertook board development through equality and diversity training and away days to other studio complexes to share in best practice.
THE OLD WATERWORKS
PAGE 2
TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 continued
OBJECTIVES AND ACTIVITIES continued
TOW published one new book this year, available for purchase on our website. This year TOW increased its provision for studio artist in the form of desk space, with one new space member starting at the end of the period, and continued to provide studio space for 14 local artists and creative organisations.
TOW offered venue hire for a number of short and long-term agreements to local organisations and creatives. Additionally, TOW supported open access to our risograph and screen-printing facilities this year.
Further details of our projects and artists feedback are available in our information sheets and on our website at www.theoldwaterworks.com or join us on Facebook or Instagram @theoldwaterworks.
FINANCIAL REVIEW
The year to 31 December 2022 is the second year that the charity has been in operation as a CIO. Unrestricted reserves of £25,577 were carried forward at the end of the year and £659 in restricted reserves. The trustees are satisfied that the charity is on a sound footing and will be able to continue operating for the foreseeable future.
The reserves carried forward on the various restricted projects can only be used for those specific Projects and include funds received for those projects still held and transferred from the original TOW company.
PUBLIC BENEFIT
The trustees have complied with their duty to have due regard to the guidance on public benefit published by The Charity Commission in exercising their powers and duties.
The trustees would like to thank all the donors and referrers for their support during the year.
Elsa Thompson Trustee on behalf of the board of trustees 7 November 2023
PAGE 3
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE OLD
WATERWORKS
FOR THE YEAR ENDED 31 DECEMBER 2022
I report on the accounts of The Old Waterworks for the year ended 31 December 2022 which comprise the receipts and payments account and statement of assets and liabilities set out on pages 4 to 12.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts under section 145 of the Charities Act;
-
to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
-
to state whether particular matters have come to my attention.
Basis of independent examiner’s statement
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:
-
the accounting records were not kept in accordance with section 130 of the Charities Act; or
-
the accounts did not accord with the accounting records; or
-
the accounts did 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 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 accounts to be reached.
61 London Road J A Griggs FCA Maidstone LEVICKS Kent Chartered Accountants & Business Advisers ME16 8TX
9 November 2023
PAGE 4
THE OLD WATERWORKS YEAR ENDED 31 DECEMBER 2022 GENERAL (UNRESTRICTED) RECEIPTS AND PAYMENTS ACCOUNT
| 2022 £ £ INCOME Studio rents 20,668 Venue hire 8,565 Riso printing 960 Book sales 1,828 Transfer of closing company funds 2,543 Events sales, workshops and seminars 1,685 Fundraising 200 Project management fees 1,500 Rates grant 4,000 Interest received 30 41,979 PAYMENTS Project staff 16,460 Utilities 485 Internet costs 4,068 Insurance 1,650 Cleaning and waste 1,968 Fire and security 466 Repairs and maintenance 2,023 Communication and promotion - Consultants - Bank, Paypal and Event site charges 123 Office expenses 128 Consumables 178 Transfer to Taking Space fund - Studio artist 95 Donation 50 Ace bottles 68 Sundry expenses 1,575 Venue and event staffing 1,490 Accountancy fees 576 Equipment 268 31,671 Net surplus/(deficit) 10,308 Transfers to restricted funds (170) Balance brought forward as at 31 December 2021 14,839 Balance carried forward as at 31 December 2022 24,977 |
2021 £ £ 13,820 825 228 355 25,283 2,727 - - - - 43,238 11,375 397 2,272 1,053 1,164 577 4,878 497 2,400 169 1,355 214 2,048 - - - - - - - 28,399 14,839 - - 14,839 |
|---|---|
The receipts and payments accounts were approved by the trustees on 7 November 2023 Signed on behalf of the trustees:
Mick Ekers
Elsa Thompson
PAGE 5
THE OLD WATERWORKS YEAR ENDED 31 DECEMBER 2022 SURVEY SUPPORT DESIGNATED (UNRESTRICTED) RECEIPTS AND PAYMENTS ACCOUNT
| INCOME Contributed income – Metal Culture Balance brought forward as at 31 December 2021 Balance carried forward as at 31 December 2022 |
2022 £ - 600 600 |
2021 £ 600 - 600 |
|---|---|---|
PAGE 6
THE OLD WATERWORKS YEAR ENDED 31 DECEMBER 2022 HOW TO MAKE A BOMB (RESTRICTED) RECEIPTS AND PAYMENTS ACCOUNT
| 2022 £ £ INCOME Grants - Transfer of closing company funds - - PAYMENTS Materials for workshops - Printing, postage and stationery - Materials for installation - Cleaning 83 Project staff 400 Photography 400 Captions 150 Tip of the Iceberg 75 Sundry 91 Public engagement 288 Repairs and maintenance 31 1,537 Net surplus/(deficit) (1,537) Transfer from unrestricted fund 15 Balance brought forward as at 31 December 2021 1,522 Balance carried forward as at 31 December 2022 - |
2021 £ £ 2,500 3,452 5,952 180 1,250 3,000 - - - - 4,430 1,522 - - 1,522 |
|---|---|
PAGE 7
THE OLD WATERWORKS YEAR ENDED 31 DECEMBER 2022 VANISHING POINT (RESTRICTED) RECEIPTS AND PAYMENTS ACCOUNT
| 2022 £ £ INCOME Transfer of closing company funds - PAYMENTS Materials for workshops - Workshop leader fees - Production of Zine - Seedling events - Bee habitat and seedling share area - Speaker fees and filming - Travel and transport - School workshops - Project staff 150 Sign writing 290 Repairs and maintenance 363 Office expenses 62 Public engagement 94 959 Net surplus/(deficit) (959) Balance brought forward as at 31 December 2021 1,084 Balance carried forward as at 31 December 2022 125 |
2021 £ £ 8,698 2,000 1,500 1,500 250 564 500 800 500 - - - - - 7,614 1,084 - 1,084 |
|---|---|
PAGE 8
THE OLD WATERWORKS YEAR ENDED 31 DECEMBER 2022 PRECARIOUS STRAITS (RESTRICTED) RECEIPTS AND PAYMENTS ACCOUNT
| 2022 £ £ INCOME Transfer of closing company funds - Grants - Final project costs 937 937 PAYMENTS Materials for workshops - Printing, postage and stationery 239 Workshop leader fees - Exhibition fees - Exhibition costs - Bank charges 8 Utilities 44 Riso 167 458 Net surplus/(deficit) 479 Balance brought forward as at 31 December 2021 457 Balance carried forward as at 31 December 2022 936 |
2021 £ £ 8,618 5,200 - 13,818 2,846 1,455 1,937 2,969 4,154 - - - 13,361 457 - 457 |
|---|---|
PAGE 9
THE OLD WATERWORKS YEAR ENDED 31 DECEMBER 2022 TAKING SPACE, SHARING SPACE, TAKING CARE (RESTRICTED) RECEIPTS AND PAYMENTS ACCOUNT
| 2022 £ £ INCOME Grants - PAYMENTS Materials for workshops - Workshop leader fees - Travel and transport - Facilitation fee - RSL Interpreter - Communication and promotion - Refreshments - - Net surplus/(deficit) - Transfer from unrestricted fund - Balance brought forward as at 31 December 2021 - Balance carried forward as at 31 December 2022 - |
2021 £ £ 13,500 2,397 3,675 65 6,844 1,000 1,500 67 15,548 (2,048) 2,048 - - |
|---|---|
PAGE 10
THE OLD WATERWORKS YEAR ENDED 31 DECEMBER 2022
AN ENGLISH GARDEN: HOW TO MAKE A BOMB – ESTUARY 2021 (RESTRICTED) RECEIPTS AND PAYMENTS ACCOUNT
| 2022 £ £ INCOME Grants – An English Garden - – Metal Culture - - PAYMENTS Materials for workshops - Printing, postage and stationery 18 Materials for installation - Workshop leader fees - Travel and transport - Photographer - Project staff 600 SCC contribution 4,499 Cleaning and recycling 115 Garden care 307 Office expenses 88 Repairs and maintenance 50 Public engagement 12 5,689 Net surplus/(deficit) (5,689) Transfer from unrestricted fund 155 Balance brought forward as at 31 December 2021 5,534 Balance carried forward as at 31 December 2022 - |
2021 £ £ 13,500 7,900 21,400 1,151 3,398 5,618 4,500 150 1,049 - - - - - - - 15,866 5,534 - - 5,534 |
|---|---|
PAGE 11
THE OLD WATERWORKS YEAR ENDED 31 DECEMBER 2022 DEVELOPMENT PROJECT RECEIPTS AND PAYMENTS ACCOUNT
| INCOME Grants PAYMENTS Project staff Artistic spending Care package, material and post Website restructure design Public moments Consulting Mentors fees Riso sessions Marketing costs Printing costs General expenses Workshop and seminars Balance carried forward as at 31 December 2022 |
2022 £ £ 27,000 11,000 8,340 200 2,462 218 1,700 800 600 1,200 150 162 570 27,402 (402) |
|---|---|
PAGE 12
THE OLD WATERWORKS STATEMENT OF ASSETS AND LIABILITIES AS AT 31 DECEMBER 2022
ASSETS
Cash funds
| Balance at bank Petty cash Paypal account |
Unrestricted General 24,901 44 32 24,977 |
Unrestricted Designated 600 - - 600 |
How To Make A Bomb - - - - |
Vanishing Point 125 - - 125 |
Precarious Straits 936 - - 936 |
Taking Space, Sharing Space, Taking Care - - - - |
An English Garden - - - - |
Development Project (402) - - (402) |
Total 26,160 44 32 26,236 |
|---|---|---|---|---|---|---|---|---|---|
AS AT 31 DECEMBER 2021 ASSETS Cash funds
| Balance at bank Petty cash Paypal account |
Unrestricted General 12,772 44 2,023 14,839 |
Unrestricted Designated 600 - - 600 |
How To Make A Bomb 1,522 - - 1,522 |
Vanishing Point 1,084 - - 1,084 |
Precarious Straits 457 - - 457 |
Taking Space, Sharing Space, Taking Care - - - - |
An English Garden 5,534 - - 5,534 |
Development Project - - - - |
Total 21,969 44 2,023 24,036 |
|---|---|---|---|---|---|---|---|---|---|
PAGE 13
THE OLD WATERWORKS STATEMENT OF ASSETS AND LIABILITIES CONTINUED AS AT 31 DECEMBER 2022
Assets retained for the Charity's use stated at estimated current value
| £ | £ | £ | £ | £ | £ | £ | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Graphoscreen | 400 | - | - | - | - | - | 400 |
|||||
| AO Canon printer | 500 | - | - | - | - | - | 500 |
|||||
| Print making press | 500 | - | - | - | - | - | 500 |
|||||
| Sony cube TV | 175 | - | - | - | - | - | 175 |
|||||
| 5 Risograph drums | 3,000 | - | - | - | - | - | 3,000 | |||||
| Risograph printer MZ | 800 | - | - | - | - | - | 800 |
|||||
| 2 Apple Mac desktops | 300 | - | - | - | - | - | 300 |
|||||
| Pressure washer | 75 | - | - | - | - | - | 75 |
|||||
| Guillotine | 193 | - | - | - | - | - | 193 |
PAGE 14
THE OLD WATERWORKS YEAR ENDED 31 DECEMBER 2022 NOTES TO THE ACCOUNTS
-
1) The accounts have been prepared on the receipts and payments basis.
-
2) The trustees confirm, in accordance with the Charitable Incorporated Organisations (General) Regulations 2012, that at the year end the CIO did not have any outstanding guarantees to third parties nor any debts secured on the assets of the CIO.
-
3) The final tranche of funds amounting to £3,000 for the Development Project was received after the year end. Expenses were incurred ahead of receipt of these monies and consequently the fund has a negative balance carried forward into 2023.