## YORUBA CONTEMPORARY ARTS TRUST
## **YORUBA CONTEMPORARY ARTS TRUST**
**TRUSTEE’S ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2025**
**|**
## **YORUBA CONTEMPORARY ARTS TRUST**
||Page|
|---|---|
|Corporate Information|3|
|Board of Trustee’s Report|4|
|Independent Examiner’s Report|7|
|Statement of Financial Activities|8|
|Statement of Financial Position|9|
|Accounting Policies|10|
|Notes|11|
**2 |**
**Corporate Information**
|**Registered Charity Number:**|1055632|
|---|---|
|**Principal Office:**|79 Willmore Road|
||Birmingham|
||B20 3JL|
|**Board of Trustees:**|Majemite Jaboro|
||Prince Tai Fadipe-Davids|
||Kafayat Oluseyi Adegoke|
||Angela May Anderson|
||Mr O Alakija|
|**Bankers:**|Natwest Bank Plc|
**3 |**
## **Board of Trustee’s Report**
## **1.0 Introduction**
The trustees submit their annual report and the financial statements of Yoruba Contemporary Arts Trust (the charity) for the year ending 31 March 2025. The trustees confirm that the annual report and financial statements of the charity comply with the current statutory requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" issued in March 2005.
## **1.1 Public Benefit Statement**
The Trustees confirm that they have complied with the duty in section 4 of the Charites Act 2011 to have due regard to the Charity Commission’s guidance on public benefit "Charites and Public Benefit".
## **1.2 Structure, Governance and Management**
## **Status**
The charity was constituted under a trust deed dated 18th January 1996 and is registered in England and Wales with charity number 1055632.
## **Appointment or Election of Trustees**
Trustees are appointed and or co-opted under the terms of the trust deed.
## **Organisational Structure and Decision Making**
The charity is organised so that the trustees meet regularly four times per year to manage its affairs, with regular updates via email and other communications between these times. Additionally, an AGM is held once a year.
## **1.3 Achievements and Performance**
The charity has been engaged in various activities detailed below in pursuance of our charity objectives and public benefit.
## **2024:**
## **April**
Release of Tales of Orisa by The Sacred Funk Quartet (SFQ).
## **May**
Received Birmingham City Council SPF Funding.
## **July / August**
Shambala Festival Gig.
## **October**
Creative Arts Fellowships for Artistic and Creative directors of Ifa Yoruba at Wolfson College, Oxford University.
## **November**
**4 |**
## **Board of Trustee’s Report**
School DJ workshops at BoA and Aston Manor
## **December**
Power Performances in Aston School.
SFQ Rural Touring and Celebration Sanctuary Performances
## **2025**
## **January**
SFQ Performances at Havana Jazz Festival supported by PRS. Exhibition of Erindilogun Textiles at Wolfson College, Oxford.
## **February**
Newbigin Community Performance.
## **March**
End of SPF project.
## **1.4 Financial Review**
During the year to 31 March 2025, the charity had total income of £33,905. Total operating charitable expenditure was £36,827 giving an operating deficit of (£2,923). At the year end, the level of reserves available for the charity’s use was £2,123.
## **1.5 Investment & Reserve Policy**
The charity does not have an investment and reserve policy and the trustees are reviewing the need to have one in place.
## **1.6 Future Development**
The charity is continuing to grow and explore various ways of increasing its scope of services. The charity is still exploring further measures to grow its activities and continue to develop its work to make life-changing impact in society.
**5 |**
## **Board of Trustee’s Report**
## **Trustees’ Responsibilities**
The trustees are responsible for preparing the annual report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the net income or expenditure of the charity for the year. In preparing these financial statements the trustees are required to:
- Select suitable accounting policies and then apply them consistently;
- Make judgments and estimates that are reasonable and prudent;
- State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- Prepare the financial statements on the going-concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The appended financial statements have been prepared on the accruals basis and have been examined by an independent examiner, whose report is also appended.
This report was approved by the Board of Trustees on 20th January 2026 and signed on their behalf by:
**Full Name:** Mr Majemite Jaboro
## **Signature:**
**Position:** Chairman of Trust
**Date:** 20th January 2026
**6 |**
## **Independent Examiner’s Report**
**Report to the trustees/members of:** Yoruba Contemporary Arts Trust **On accounts for the year ended:** 31st March 2025, set out on pages 8 - 12 **Charity No:** 1055632
## **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 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 seeking 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 matter has come to my attention:
- (1) which give me reasonable cause to believe that in, any material respect, the requirements:
- to keep accounting records in accordance with section 130 of the Charities Act;
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
**Signed: Date:** 20 January 2026 0.
**Name:** Tobi Labeodan, on behalf of Chedders Ltd
## **Relevant professional qualification(s) or body (if any): ACCA**
**Address:** Ground Floor, Synium House, R/O 94-96 High Street, Henley In Arden, England, B95 5FY.
**7 |**
## **Statement of Financial Activities: Year Ended 31st March 2025**
|**Notes**
**Income:**
Donations and legacies
**1**
Other income (Grants)
**1**
**Total Income**
**Total Income**
**Expenditures on:**
Charitable Activities
**2**
Other Costs
**2**
**Total Expenditures**
**Net income/(expenditure)**
**Transfers between funds**
**Other recognised gains/(losses):**
Gains/(losses) on revaluation of fixed assets
Gains/(losses) on investment assets
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward at 1 April
Total funds carried forward at 31 March|**2025**
**2025**
**2025**
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total**
**Funds**
**£**
**£**
**£**
-
12,905
12,905
-
21,000
21,000
**-**
**33,905**
**33,905**
**-**
**33,905**
**33,905**
-
36,327
36,327
-
500
500
**-**
**36,827**
**36,827**
**-**
**(2,923)**
**(2,923)**
-
-
**-**
**(2,923)**
**(2,923)**
-
7,632
7,632
**-**
**4,710**
**4,710**|**2024**
**2024**
**2024**|
|---|---|---|
|||**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total Funds**|
|||**£**
**£**
**£**|
|||-
28,296
28,296|
|||-
43,830
43,830|
|||**-**
**72,126**
**72,126**|
||||
|||**-**
**72,126**
**72,126**|
||||
||||
|||-
69,266
69,266|
|||-
303
303|
|||**-**
**69,569**
**69,569**|
||||
|||**-**
**2,557**
**2,557**|
||||
||||
||||
||||
|||-|
|||-|
|||**-**
**2,557**
**2,557**|
||||
|||-
5,075
5,075|
||||
|||**-**
**7,632**
**7,632**|
**8 |**
## **Statement of Financial Position: Year Ended 31st March 2025**
|**Notes**
**Fixed Asset**
Tangible assets
**3**
**Total Fixed Asset**
**Other Assets**
Investments
**Total Other Assets**
**Current Assets**
Closing stock
Trade Debtors
Other Debtors
Loans & Advances
Prepayments
Accrued Income
Cash at bank and in hand
Other Investments
**Total Current Assets**
**Creditors: amounts falling due within one year**
Trade Creditors
Other Creditors
VAT
Tax Payable
Accruals
Deferred Income
Director's Loans
Bank Loans and other finance (short term)
Other Current Liabilities
**Total Creditors: amounts falling due within one year**
**Net current assets (liabilities)**
**Total assets less current liabilities**
**Creditors: amounts falling due after more than one year**
Bank loans and other finance (long term)
Provisions
Other Non-Current Liabilities
**Total Creditors: amounts falling due after more than one year**
**Total net assets (liabilities)**
**The funds of the charity:**
Share capital
Retained reserves
Profit/(loss) for the year
**Total charity funds**|**2025**
**£**
1,915
**1,915**
-
**-**
-
-
371
-
2,123
-
**2,494**
(800)
500
**(300)**
**2,794**
**4,710**
-
**-**
**4,710**
-
7,632
(2,923)
**4,710**|**2024**|
|---|---|---|
|||**£**|
||||
|||3,799|
|||**3,799**|
||||
||||
|||-|
||||
|||**-**|
|||-|
|||-|
||||
||||
|||371|
||||
|||-|
|||2,662|
|||-|
|||**3,033**|
||||
||||
|||-|
|||(800)|
||||
|||-|
|||-|
||||
|||-|
||||
||||
|||**(800)**|
||||
|||**3,833**|
||||
|||**7,632**|
||||
||||
||||
||||
|||-|
|||**-**|
||||
|||**7,632**|
||||
||||
||||
|||5,075|
|||2,557|
|||**7,632**|
**9 |**
## **Accounting Policies**
## **Scope and Basis of the Financial Statements**
The accounts have been prepared under the historical cost convention and in accordance with applicable accounting standards and the Statement of Recommended Practice Accounting and Reporting by Charities published in March 2005.
## **Income**
Revenue is recognised in the period in which the charity is entitled to receipt once the amount can be measured with reasonable certainty.
## **Expenses**
Expenditure is included in the Statement of Financial Activities (SoFA) on an accruals basis and is recognised at the point when a legal or constructive obligation arises. The majority of costs are directly attributable to specific activities. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Fixed assets**
Fixed assets with an individual purchase of £500 or more are capitalised and stated at cost less depreciation which is provided at rates calculated to write off the cost of each asset over its expected useful life as follows:
Sound & Musical Instruments 20% Equipment 20%
**10 |**
## **Notes**
## **1. Income**
|**Income**
Donations and legacies
**Total donations & legacies**
**Other income**
Grants Received
Interest Earned
**Total other income**
**Total Income**
**2.**
**Expenditures**
**Resources Expended**
**Charitable Activities**
Premises
Utilities
Travel
Motor expenses
Insurance
Administration
Advertising
Finance charges
Operations
Charitable donations
Depreciation
**Total Charitable Activities**
**Other Costs**
Other costs
Legal fees
Professional fees
**Total Other Costs**|**2025**
12,905
**12,905**
21,000
-
21,000
**33,905**
**2025**
**£**
0
0
1,466
0
287
11,412
653
0
20,625
0
1,884
**36,327**
0
0
500
**500**|**2024**|
|---|---|---|
||||
|||28,296|
|||**28,296**|
||||
||||
|||43,830|
|||-|
|||43,830|
||||
|||**72,126**|
||||
|||**2024**|
|||**£**|
|||1,313|
|||384|
|||1,398|
|||209|
|||277|
|||25,535|
|||2,033|
|||-|
|||36,233|
|||-|
|||1,884|
|||**69,266**|
||||
||||
|||-|
|||-|
|||303|
|||**303**|
**11 |**
## **Accounting Policies**
## **Tangible Assets**
|**angible Assets**||||||
|---|---|---|---|---|---|
|**Cost**
At 1st April 2024
Additions
Disposals
Revaluations
At 31st Mar 2025
**Depreciation**
At 1st April 2024
Charge for the year
Disposals
At 31st Mar 2025
**Net Book Value**
At 31st Mar 2025
At 31st Mar 2024|**Property**
**£**
-
**-**
-
**-**
**-**
**-**|**Office**
**equipment**
**£**
2,953
**2,953**
1,111
360
**1,470**
**1,483**
**1,842**|**Sound &**
**Musical**
**Equipment**
**£**
5,971
-
**5,971**
4,834
930
**5,764**
**207**
**1,137**|**Computer**
**Equipment**
**£**
3,496
**3,496**
2,677
594
**3,271**
**225**
**819**|**Total**
**£**
**12,420**
**-**
**-**
**-**|
||||||**12,420**|
||||||**8,621**
**1,883**
**-**|
||||||**10,505**|
|||||||
||||||**1,915**|
||||||**3,799**|
**12 |**