**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). 1 of 12 ## **Thamesmead Arts And Culture Office Report of the Directors Continued For the year ended 31 March 2024** ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** 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)'. 2 of 12 ## **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 3 of 12 ## **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: 1. 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 3. 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 4. 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 4 of 12 ## **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**| 5 of 12 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 6 of 12 ## **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: 7 of 12 ## **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** 8 of 12 ## **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|-| 9 of 12 ## **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**| 10 of 12 ## **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** 11 of 12 ## **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**| 12 of 12 **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**| 13 of 12