Here is a summary of Teapot Trust’s financial performance for the year ending 31 March 2021 that highlights improvements on the previous year despite the challenges of the pandemic.

Breakdown	2020-2021	2019-2020
Total income	£375,350	£358,521
Total unrestricted income	£239,145	£145,618
Total expenditure	£292,642	£402,907
Total funds in the bank at 31 March	£260,568	£126,249
Total unrestricted reserves	£62,747	£30,282

 

This is an extract from the Financial Review section of the Annual Report and Accounts to 31 March 2021:

“a position of relative strength”

Trustees are pleased to report that Teapot Trust ended this financial year, a particularly challenging year for all charities, in a position of relative strength. Total income for this financial year, at £375,350 (2020: £358,521) represents a strong performance in the year of coronavirus and has been boosted by successful applications for emergency funding. The charity has focused on securing unrestricted funding during this time of acute uncertainty, with £239,145 of total income raised being unrestricted. Total expenditure for this financial year, at £292,642 (2020: £402,907) represents a significant decrease on the previous financial year. This reflects the necessary suspension of art therapy Open Groups in hospitals due to the pandemic, but also cost savings across a number of categories. Total funds held at the Bank on 31 March 2021 amount to £260,568, of which £98,353 is unrestricted. This represents a significant increase on the prior year (£108,060) and is a solid base on which to build in 2021-2022.

“a solid base on which to build in 2021-2022”