Charity no. 1193497
Grand Plan Receipts and Payments Accounts 31 December 2021
Grand Plan
Reference and administrative details
| For theperiod ended 31 | December 2021 | |
|---|---|---|
| Charity number | 1193497 | |
| Registered office and | Flat 1 | |
| operational address | 15 Maresfield Gardens | |
| London | ||
| NW3 5SN | ||
| Trustees | The trustees who served during the year and up to the date of this report | |
| were as follows: | ||
| Thomas Rosenthal (Chair) | Appointed 11 February 2021 | |
| Bella Pace | Appointed 11 February 2021 | |
| Marina Diamandis | Appointed 11 February 2021 | |
| Chief executive officer | Siddharth Khajuria | |
| Bankers | NatWest | |
| Swiss Cottage | ||
| 106 Finchley Road | ||
| London | ||
| NW3 5JN | ||
| Independent | Godfrey Wilson Limited | |
| examiners | Chartered accountants and | statutory auditors |
| 5th Floor Mariner House | ||
| 62 Prince Street | ||
| Bristol | ||
| BS1 4QD |
1
Grand Plan
Report of the trustees
For the period ended 31 December 2021
Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements and the constitution.
Objectives and activities
The object of Grand Plan is to promote art in all forms for the public benefit, by supporting and promoting the work and careers of artists from Black, Asian and Minority Ethnic (BAME) backgrounds.
This is achieved by raising funds from donors, and using these funds to award £1,000 grants to people of colour who want to make a new creative project. These projects range across the creative spectrum and can include poetry and spoken word, paintings, writing, music, photography, theatre, visual art, dance, film or other media.
Artists can apply online for a grant through our rolling, monthly application process. Every application is read by our team, who create a shortlist from which a panel of independent judges make final selections.
Achievements and performance
Grand Plan was registered as a charity in February 2021, and launched in May 2021. It was cofounded by Marina Diamandis, Siddharth Khajuria and Tom Rosenthal, and in this first year the charity’s focus has been on the establishment of the financial and operational scaffolding to support our object.
Following its establishment, the charity's ongoing operations throughout 2021 have been managed by Sophie Chapman and Siddharth Khajuria, with the support and guidance of the trustees.
Notable achievements in our first year (ending 31 December 2021) include:
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securing £86,500 in funding, thanks primarily to the generosity of individuals in the cultural and creative industries;
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after our public launch in May, awarding twenty-six grants of £1,000 to people of colour to realise cultural and creative projects of any kind;
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recruiting four independent judges - April Brown, Travis Alabanza, Nikesh Shukla, and Bolanle Tajudeen - to make final grantmaking decisions from a shortlist drawn up by our team, who read every application;
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establishing a significant community and online following, with 3,000+ followers on Instagram and receiving 1,704 applications for grants submitted via an intuitive and simple online application process; and
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awarding grants across a breadth of cultural practices , including: food-growing, illustration, community work, poetry, literature, theatre, visual arts, video games, photography, beauty, music, dance, film, audio, archival practice, and fashion.
Of our grantees:
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more than 60% describe themselves as having black cultural heritage , followed by just under 20% of South Asian heritage;
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nearly 30% have a disability ;
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nearly 45% live outside of London ;
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nearly 70% describe their socio-economic background as “working class” or “low income”;
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▪ just over 75% are aged 18-34 ;
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just under 40% describe their sexuality as bisexual, queer, pansexual, or gay;
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Grand Plan
Report of the trustees
For the period ended 31 December 2021
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20% have a gender identity which is different to that which they were assumed to be at birth; and
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60% describe their gender identity as female and 15% as nonbinary or trans.
Financial review
Total income for the first accouting period was £86,500, all of which was unrestricted, and total expenditure was £38,720. 67% of the charity’s expenditure in the period was awarded as grants, 13% on its independent judges, and the remaining amount on costs related to administration and establishment of the charity.
The charity held cash funds of £47,780 at the end of the year. These funds allow operations to continue into the following financial year whilst we also develop the longer-term fundraising and operational model for the charity. Our aim is to increase our level of reserves to 6-9 months running costs, which would equate to £73,620–£110,430.
Structure, governance and management
Grand Plan is a charitable incorporated organisation, registered on 11 February 2021. It is currently managed by three trustees. Three trustees is our minimum number, and if the number falls below this, the remaining trustee or trustees may act only to call a meeting of the charity trustees, or appoint a new charity trustee.
Independent examiners
Godfrey Wilson Limited were appointed as independent examiners to the charity during the year and have expressed their willingness to continue in that capacity.
Approved by the trustees on 24 May 2022 and signed on their behalf by
Thomas Rosenthal - Chair
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Independent examiner's report
To the trustees of
Grand Plan
I report to the trustees on my examination of the accounts of Grand Plan (the charity) for the period ended 31 December 2021, which are set out on pages 5 to 6.
Respective responsibilities of trustees and examiner
As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material 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 Act; or
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(2) the accounts do not accord with those records.
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 accounts to be reached.
Alison Godfrey
Date: 26 May 2022 Alison Godfrey FCA Member of the ICAEW
For and on behalf of:
Godfrey Wilson Limited
Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD
4
Grand Plan
Receipts and payments account
For the period ended 31 December 2021
| Receipts Donations Total receipts Payments Grant payments Freelancer costs Judges fees Legal fees Website costs Total payments Net receipts Cash funds at 11 February 2021 Cash funds at 31 December 2021 |
£ 86,500 11 February 2021 to 31 December 2021 |
|---|---|
| 86,500 | |
| 26,000 6,525 5,000 960 235 |
|
| 38,720 | |
| 47,780 - |
|
| 47,780 |
5
Grand Plan
Statement of assets and liabilities
As at 31 December 2021
| Cash funds Cash at bank and in hand Total cash funds Cash funds Unrestricted funds General funds Total cash funds |
2021 £ 47,780 |
|---|---|
| 47,780 | |
| 47,780 | |
| 47,780 |
Approved by the trustees on 24 May 2022 and signed on their behalf by
Thomas Rosenthal - Chair
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