2024-03-31-accounts - Thamesmead Arts And Culture Office

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Charity number: 1196316

Company number: 10995454

(England and Wales)

Thamesmead Arts And Culture Office

Report of the Directors and Unaudited Financial Statements

For the year ended 31 March 2024

Thamesmead Arts And Culture Office Contents Page For the year ended 31 March 2024

Report of the Directors	1 to 2
Independent Examiner's Report to the Directors	3
Statement of Financial Activities	4
Statement of Financial Position	5
Notes to the Financial Statements	6 to 12

Thamesmead Arts And Culture Office Report of the Directors For the year ended 31 March 2024

The Directors have pleasure in presenting their report and the financial statements for the charitable company for the year ended 31 March 2024. The Directors have adopted the provisions of 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 the Republic of Ireland (FRS 102) (effective 1 January 2019).

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Thamesmead Arts And Culture Office Report of the Directors Continued For the year ended 31 March 2024

OBJECTIVES AND ACTIVITIES

Objectives and aims

Throughout 2023/24 TACO! continued to deliver against its mission to foster artists and art practices as valued, vital and useful to creative communities, civil society, and the realisation of shared equitable futures. This was realised direct support for the production of contemporary art, artistic practitioners and creative communities and groups in Thamesmead, and more widely across SE London.

2023/24 was the organisations 1st full year in its new public venue of Cygnet Square, at the heart of a new cultural quarter for Thamesmead. The organisation also celebrated its first 5 years of public programming with an anniversary event on the 14th July 2023.

Highlights from TACO!'s artistic and public programmes over this period included:-

Artist duo Ruth Beale and Amy Feneck (The Alternative School of Economics) continuing to develop and realise Tree Time, a project that considers the relationship between ecology and sustainability, capitalism and climate change in the context of place. The project continued in its R&D stage throughout 2023/24 with a number of public events, walks and talks.
Artist Holly Graham continued her project ACTION! - a project researching and celebrating anti-racist community led action in Thamesmead in the early 1990's. Working with the family of Rolan Adams, historical activists, and communities in Thamesmead, the project worked towards the realisation of an ambitious public artwork in the form of bronze plaques marking a 1991 protest marching route to Welling from Thamesmead. The march route is 7km long , and the project will work with communities along this route. The first plaques are being installed in mid 2025/26 in the Moorings, Thamesmead
James Prevett's commissioned project Things for Homes / Homes for Things, in which the artists made sculpture for people in their home concluded with the launch and distribution of publication that documents this socially engaged project. The book was co-published with Roof Top Press, Helsinki.
Avril Corroon's commissioned 3 year project Got Damp concluded with the publishing of a book documenting the project, published by TACO! The project involved the artist work with families and households with lived experience of damp and precarious housing in London and Dublin to co-produce a film and an installation.
Frances Scott concluded her 5 year research project Wendy, presenting a long form film in an Installation, made in collaboration with artist Chu Li Shewring. The film and installation was critically well received by peers, audiences and press and toured to Copenhagen, Denmark.
Charlie Godet Thomas exhibited a new body of work at TACO! In their installation Running on Ahead. Work from the exhibition was subsequently purchased by collectors, supporting the artists practice.
Tracey Sada presented a film screening of her collection of video vignettes and short films at TACO! this was the artists first exhibition in a UK gallery.
We undertook a number of public screenings, talks and workshop events working with artists involved in the research of projects to curate these events. This resulted in the public presentation of works by Jo Masidg,
TACO! Continued to develop pioneering work with Children and Young People. This was led through the Hundred Club, a child led creative space for art and play that supports children aged 5-12yrs old to explore social justice issues that matter to them. The Hundred Club delivered over 45 workshops, made and distributed 3 newspapers, worked with 226 children their parents, carers or siblings, and 29 artists. In addition it continued to deliver a regular after school club at the Moorings Sociable club during term times, supporting over an additional 350 children from the local area. The Hundred Club also delivered against it 1st year of VCS funding from LB of Greenwich.

Alongside this programme of projects, socially engaged work, and exhibitions, TACO! Delivered a wide programme of events, including talks, screenings, and experimental music events. Jighlights included performances by Astrid Sonne, Kate Carr, and The Silver Field - who performed and developed new work at TACO!- which subsequently won an Oram Award in 2024.

Statement on public benefit

The directors have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.

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Thamesmead Arts And Culture Office Report of the Directors Continued For the year ended 31 March 2024

FINANCIAL REVIEW

For the financial year ending 31 March 2024, total income resources were £99,295 (2023 : £114,371). The total expenditure for the year was £136,425 (2023 : £104,119 ). The resulting net deficit is £37,130 (2023 : £10,252 net income).

REFERENCE AND ADMINISTRATIVE INFORMATION

Name of Charity Thamesmead Arts And Culture Office Charity registration number 1196316 Company registration number 10995454 Principal address PO BOX Se28 8ba Poplar Place London SE28 8BA

Directors

The directors of the charitable company are its trustees for the purpose of charity law. The trustees and officers serving during the year and since the year end were as follows:

Secretary

Independent examiner

Mr Vijay Raman Mrs Amanda Jayne Carmichel Ms Kate Forde Miss Kirstene Mairi Ogg Ms Rima Patel Ms Rima Anilkumar Apabhai Patel Avril Corroon Mr Matthew George Jenner

Andrew M Wells FMAAT Counterculture Partnership LLP Bank Chambers, Main Street Hawes North Yorkshire DL8 3QL

Approved by the Management Committee and signed on its behalf by

............................................................................. 18 December 2024 Ms Rima Patel

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Thamesmead Arts And Culture Office Independent Examiners Report to the Directors For the year ended 31 March 2024

I report to the trustees on my examination of the accounts of the charitable company for the year ended 31 March 2024.

Responsibilities and basis of report

As the charity Directors are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiners statement

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:

accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
the accounts do not comply with the requirements of section 396 of the 2006 Act 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; or
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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.

Andrew M Wells FMAAT Counterculture Partnership LLP Bank Chambers, Main Street Hawes North Yorkshire DL8 3QL

18 December 2024

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Thamesmead Arts And Culture Office

Statement of Financial Activities (including Income and Expenditure Account) For the year ended 31 March 2024

Notes Income and endowments from: Donations and legacies 2 Charitable activities 3 Total Expenditure on: Charitable activities 4/5 Total Net income/expenditure Reconciliation of funds Total funds brought forward Total funds carried forward	Unrestricted funds £ 13,101 3,134 16,235 (62,849) (62,849) (46,614) 89,679 43,065	Restricted funds £ 83,060 - 83,060 (73,576) (73,576) 9,484 29,435 38,919	2024 £ 96,161 3,134 99,295 (136,425) (136,425) (37,130) 119,114 81,984	2023 £ 110,907 3,464
				114,371
				(104,119)
				(104,119)
				10,252 108,862
				119,114

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10995454

Registered Number :

Thamesmead Arts And Culture Office Statement of Financial Position As at 31 March 2024

Notes Fixed assets Tangible assets 11 Current assets Stocks 12 13 Debtors Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Total assets less current liabilities Net assets The funds of the charity Restricted income funds 15 Unrestricted income funds 15 Total funds	£ 2024 3,012 3,012 6,640 39,765 67,203 113,608 (34,636) 78,972 81,984 81,984 38,919 43,065 81,984	£ 2023 6,018
		6,018
		9,578 59,821 46,188
		115,587
		(2,492) 113,095
		119,113
		119,113
		29,435 89,679
		119,114

For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its accounts for the year in question in accordance
with section 476,
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting
records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

The financial statements were approved and authorised for issue by the Board and signed on its behalf by:

Ms Rima Patel Director

18 December 2024

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Thamesmead Arts And Culture Office Notes to the Financial Statements For the year ended 31 March 2024

1. Accounting Policies

Basis of accounting

The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and in accordance with the Charities SORP (FRS 102) ‘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)', Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Companies Act 2006.

Thamesmead Arts And Culture Office meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

Going concern

The financial statements are prepared, on a going concern basis, under the historical cost convention.

Funds

The charity maintains a general unrestricted fund which represents funds which are expendable at the discretion of the trustees in furtherance of the objects of the charity. Such funds may be held in order to finance both working capital and capital investment.

Designated funds comprise of unrestricted funds that have been set aside by the Trustees for particular purposes.

Restricted funds have been provided to the charity for particular purposes, and it is the policy of the board of trustees to carefully monitor the application of those funds in accordance with the restrictions placed upon them.

There is no formal policy of transfer between funds or on the allocation of funds to designated funds, other than that described above

Incoming resources

All incoming resources are included in the statement of financial activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

Grants and donations are recognised where there is entitlement, probability of receipt and the amount can be measured with sufficient reliability.

Deferred income represents amounts received for future periods and is released to incoming resources in the period for which it has been received. Such income is only deferred when the donor specifies that the donation must only be used in future accounting periods or the donor has imposed conditions which must be met before the charity has unconditional entitlement.

Investment income is recognised on a receivable basis.

Resources expended

All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources.

Taxation

As a registered charity, the company is exempt from income and corporation tax to the extent that its income and gains are applicable to charitable purposes only. Value Added Tax is not recoverable by the company, and is therefore included in the relevant costs in the Statement of Financial Activities.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

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Thamesmead Arts And Culture Office Notes to the Financial Statements Continued For the year ended 31 March 2024

Plant and machinery

20% Straight line

Stocks and work in progress

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Current asset investments

The Charity controls a wholly owned trading subsidiary, Taco Projects Limited (company number 13607794), a company limited by guarantee.

2. Income from donations and legacies

Donations received Grants received Analysis of grants received Arts Council England Bow Arts GLA London Community Foundation Other Grants Other Grants Peabody Group Power to Change The Royal Borough of Greenwich ncome from charitable activities Unrestricted funds Promotion of the Arts Income from charitable activities	Restricted funds Unrestricted funds £ £ - 1,866 83,060 11,235 83,060 13,101	2024 £ 1,866 94,295 96,161 2024 £ 2,758 - 5,000 9,924 - 11,432 30,000 - 35,181 94,295 2024 £ 3,134	2023 £ 6,579 104,328
			110,907
			2023 £ 24,824 4,520 15,000 9,925 1,500 1,000 43,100 4,000 459
			104,328
			2023 £ 3,464

3. Income from charitable activities

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Thamesmead Arts And Culture Office Notes to the Financial Statements Continued For the year ended 31 March 2024

4. Costs of charitable activities by fund type

Promotion of the Arts Support costs osts of charitable activities by activity type Support costs Promotion of the Arts	Unrestricted funds £ - 62,849 62,849 Activities undertaken directly £ 67,642	Restricted funds £ 67,642 5,934 73,576 Support costs £ 68,783	2023 2024 £ £ 53,950 67,642 50,169 68,783 104,119 136,425 2023 2024 £ £ 136,425 104,119

5. Costs of charitable activities by activity type

6. Analysis of support costs

Promotion of the Arts Management IT Office Costs Premises Costs Equipment and Tech Governance costs	2024 £ 56,969 1,319 3,521 4,084 1,078 1,812 68,783	2023 £ 35,033 1,606 7,162 3,715 1,019 1,634
		50,169

7. Net income/(expenditure) for the year

This is stated after charging/(crediting):

This is stated after charging/(crediting):
	2024	2023
	£	£
Depreciation of owned fixed assets	3,006	4,649
Accountancy fees	1,440	1,440
Staff pension contributions	1,055	-

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Thamesmead Arts And Culture Office

Notes to the Financial Statements Continued

For the year ended 31 March 2024

8. Staff costs and emoluments

Total staff costs for the year ended 31 March 2024 were:

	2024	2023
	£	£
Salaries and wages	55,733	34,400
Social security costs	181	634
Pension costs	1,055	-
	56,969	35,034

No employee earned more than £60,000 during the year (2023:nil)

The total employee benefits of the key management personnel of the charity were £28,715 (2023: £35,034).

Management	2024 1 1	2023 1
		1

9. Trustee remuneration and related party transactions

The charity trustees were not paid or received any other benefits from employment with the charity in the year (2023:£nil).

Trustees' expenses represents the payment or reimbursement of travel and subsistence costs totalling £nil (2023:£nil).

There are no related party transactions to disclose for 2023 (2023:none).

10. Comparative for the Statement of Financial Activities

Income and endowments from: Donations and legacies Charitable activities Total Expenditure on: Charitable activities Total Net income/expenditure Reconciliation of funds Total funds brought forward Total funds carried forward	Unrestricted funds £ 6,579 3,464 10,043 (29,226) (29,226) (19,183) 108,862 89,679	Restricted funds £ 104,328 - 104,328 (74,893) (74,893) 29,435 - 29,435	2023 £ 110,907 3,464
			114,371
			(104,119)
			(104,119)
			10,252 108,862
			119,114

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Thamesmead Arts And Culture Office Notes to the Financial Statements Continued For the year ended 31 March 2024

11. Tangible fixed assets

Cost or valuation At 01 April 2023 At 31 March 2024 Depreciation At 01 April 2023 Charge for year At 31 March 2024 Net book values At 31 March 2024 At 31 March 2023 Stocks and work in progress Work in progress Debtors Amounts due within one year: Trade debtors Prepayments and accrued income Other debtors Creditors: amounts falling due within one year Other creditors Accruals and deferred income	2024 £ 6,640 6,640 2024 £ 30,082 149 9,534 39,765 2024 £ 3,196 31,440 34,636	Plant and machinery £ 23,247
		23,247
		17,229 3,006
		20,235
		3,012
		6,018
		2023 £ 9,578
		9,578
		2023 £ 32 149 59,640
		59,821
		2023 £ 1,052 1,440
		2,492

12. Stocks and work in progress

13. Debtors

14. Creditors: amounts falling due within one year

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Thamesmead Arts And Culture Office

Notes to the Financial Statements Continued For the year ended 31 March 2024

15. Movement in funds

Unrestricted Funds

	Balance at	Incoming	Outgoing	Balance at
	01/04/2023	resources	resources	31/03/2024
	£	£	£	£
General
General	89,679	16,235	(62,849)	43,065
	89,679	16,235	(62,849)	43,065
Unrestricted Funds - Previous year
	Balance at	Incoming	Outgoing	Balance at
	01/04/2022	resources	resources	31/03/2023
	£	£	£	£
General
General	108,862	10,043	(29,226)	89,679
	108,862	10,043	(29,226)	89,679

Purpose of unrestricted Funds

General

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.

Restricted Funds

	Balance at	Incoming	Outgoing	Balance at
	01/04/2023	resources	resources	31/03/2024
	£	£	£	£
Resticted Grants	29,435	83,060	(73,576)	38,919
	29,435	83,060	(73,576)	38,919
Restricted Funds - Previous year
	Balance at	Incoming	Outgoing	Balance at
	01/04/2022	resources	resources	31/03/2023
	£	£	£	£
Resticted Grants	-	104,328	(74,893)	29,435
	-	104,328	(74,893)	29,435

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Thamesmead Arts And Culture Office Notes to the Financial Statements Continued

For the year ended 31 March 2024

Purpose of restricted funds

Resticted Grants Projects

16. Analysis of net assets between funds

Unrestricted funds General General Restricted funds Resticted Grants Previous year Unrestricted funds General General Restricted funds Resticted Grants	Tangible fixed assets Net current assets / (liabilities) Net Assets £ £ £ 3,012 40,053 43,065 - 38,919 38,919
	3,012 78,972 81,984
	Tangible fixed assets Net current assets / (liabilities) Net Assets £ £ £ 6,018 83,660 89,678 - 29,435 29,435
	6,018 113,095 119,113

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