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2024-03-31-accounts

PIMENTO COMMUNITY PROJECT

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

Charity No: 10663621

Company No: 05625190

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PIMENTO COMMUNITY PROJECT

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 MARCH 2024

CONTENTS Page
Legal and Administrative 3
Trustees Annual Report 4 - 5
Independent Examiners Report 6
Statement of Financial Activities 7
Balance Sheet 8
Notes forming part of the Financial Statements 9 - 12

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PIMENTO COMMUNITY PROJECT

ADMINISTRTATIVE INFORMATION

FOR THE YEAR ENDING 31 MARCH 2024

Charity Name: Pimento Community Project Charity Number 1063621 Company Number 05625190

Registered office and operational address: 28 Powis Gardens (Basement) London W11 1JG

Trustees Doreen Davis MBE Debi Tomlin Shirley Simmonds Serena Gustave Cohen Accountants Community Accountancy Self Help 6 Bevington Road London W10 5TN Independent Examiner Dayo Gilmore BA 335 Westbourne Park Road London W11 1EG Bankers Barclays PLC London W11

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PIMENTO COMMUNITY PROJECT

TRUSTEES ANNUAL REPORT FOR THE YEAR ENDING 31 MARCH 2024

Pimento’s charitable objectives

To promote for the benefit of the inhabitants of central and West London by associating together the inhabitants and the local authorities, voluntary and other organisation’s to advance education and leisure-time occupation.

Structure and Governance

The Charity is run by a voluntary board of four Trustees who meet four times a year. Trustees are also involved in the day to day management of the charity and in providing its service. Apart from the Summer Scheme the charity employs no staff.

Activities

During the year we continued to run the supplementary school which focuses on children who are struggling in main stream school. We teach English, Maths and Black History and also help with homework. The project also provides a range of support for parents including assistance with meetings with Social Services and state schools. Some of the children have special educational needs, others have behavioural problems which our style of teaching and support is able to overcome.

We were open for three days a week during term time.

Impact

North Kensington is a community with strong physical boundaries including the canal to the north, the train tine to the west and the expensive housing to the east and south. This makes it easier for us to track our children after they have left. We constantly hear heartening stories of our alumni getting jobs, going to college for technical qualification and some to university. These are people, who were failing in main stream school, would have had poor quality lives if Pimento had not been there to help them. Some of our pupils are with us for ten years and receive help every time they attend Pimento.

Plans for the future.

In 2025 we hope to expand the service to five days a week and include some summer activities. We also want to reestablish the music lessons and art workshops. In time we will get back to the pre covid level of activity.

Risk.

We undertake an annual risk review with a particular focus on safe guarding.

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PIMENTO COMMUNITY PROJECT

TRUSTEES ANNUAL REPORT (continued) FOR THE YEAR ENDING 31 MARCH 2024

Public Benefit

Pimento is aware of and conformed to the Charity Commissions guidance on public benefit.

Financial review

The Charity had income of £40,285 and expenditure of £27,283 during the year resulting in a deficit of £10,655 and carry forward unrestricted reserves of £1,824, restricted reserves of £19,749.

Reserves Policy .

The Charity aims to have six months expenditure as a reserve. Currently the reserve stands at six months.

Investment Policy.

Funds at the end of the year were less than £40,000 and were held in a bank current account which had no charges and no interest. This reflects our current policy of minimising bank charges.

We thank all our funders and the donors for the support they have provided.

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Independent examiner’s report to the trustees of Pimento Community Project for the year ended 31st March 2024

I report on the accounts of the charity, which are set out on pages 5 to 10.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 43(2) of the Charities Act 1993 (the 1993 Act) and that an independent examination is needed. The charity’s gross income is less than £250,000. I am allowed under Charities Act regulations to undertake this examination.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

Basis of independent examiner’s report

My examination was carried out in accordance with the 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 you as 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 gives me reasonable cause to believe that in any material respect the requirements:

  2. to keep accounting records in accordance with section 386 of the Companies Act 2006; and

  3. to prepare accounts which accord with the accounting records and comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or

  4. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Dayo Gilmore BA 145 Acklam Road London W10 5YX

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Pimento Community Project Page 7 of 14

Charity Number 1063621 Company Number 05625109

Statement of Financial Activities

(Including Income & Expenditure Account) The Year Ending 31 March 2024

Incoming Resources
Grants
Donatons & Fees
Resources Expended
Staf salaries NI
Premise Costs
Operatons
Governance and other
Total Resources Expended
Net Incoming (outgoing)
resources for the year
Balance brought forward at
1 April 2022
Balance carried forward at
31 March 2023		 Unrestricted
-
780

780
1,102
1,000
1,007
594
3,703
(2,923)
4,747
1,824		 Unrestricted
-
780

780
1,102
1,000
1,007
594
3,703
(2,923)
4,747
1,824		 Restricted
39,505
0		 Total 2024
39,505
780		 Total 2023
16,092
3,160
19,252
13,081
12,248
3,220
540
29,125
-9,873
16,347
6,474
39,505
12,062
11,248
270
0
23,580
15,925
2,000
17,925		 40,285
13,164
12,248
1,277
594
27,283
13,002
6,474
19,749

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Pimento Community Project

Charity Number 1063621 Company Number 05625109

Balance Sheet

(Including Income & Expenditure Account) At 31 March 2024

Fixed Assets
Current Assets
Debtors
Bank
Cash
Liabilites
Due within one year
Net Current Assets
Net Assets
Funds
Unrestricted
.
. Restricted		 2024
£
-
6,600
32,162
152
38,914
(19,165)
19,749
19,749
1,824
17,925
19,749		 2023
£
-
6,600
14,622
290
21,512
(15,038)
6,474
6,474
4,474
2,000
6,474

(1) For the year ending 31 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

(2) The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006

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The financial statements and notes on pages 6 to 10 were approved by the trustees, and authorised for issue on 12 December 2024 and signed on their behalf by:

Sign

Print name

Director and Trustee Date: 17-12-24

Pimento Community Project

Notes to accounts 2023-24

1. Accounting policies

The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP 2005) issued in March 2005, the Financial Reporting Standard for Smaller Entities (effective April 2008) and the Companies Act 2006.

SORP (2005) provides a number of concessions for smaller charities that are not subject to a statutory audit. The Women’s Association for African Networking and Developemnt falls within this category and has taken advantage of these concessions (as set out in SORP 2005, Appendix 5.3)

The principal accountng policies adopted in the preparaton of the fnancial statements are as follows.

(a) Depreciation of fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its useful life: computers and electronic equipment: 25% of cost straight line; all other fixtures and fittings: 20% per annum, straight line.

(b) Capital grants

Capital grants in respect of capital expenditure are credited to the Statement of Financial Activities (SOFA) when they are received. The charity had no capital grants during the year.

(c) Income

Income from donations and grants is credited to the accounts in the period in which it is received, unless received in advance for a subsequent period, in which case it is carried forward in creditors.

(d) Gifts

Donated services, gifts in kind and voluntary labour were not considered to be material, and have therefore not been included in these accounts.

(e) Productions straddling two financial years

All income and expenditure is taken into the year in which the majority of performances take place.

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(f) Resources expended

Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT which cannot be recovered. The organisation does not need to register for VAT because it is below the threshold.

Certain expenditure is directly attributable to specific activities and has been included in those cost categories. Certain other costs, which are attributable to more than one activity, are apportioned across cost categories on the basis of an estimate of the proportion of time spent by staff on those activities.

Pimento Community Project Notes to accounts 2023-24 (continued)

(g) Fund accounting

Funds held by the charity are either:

Further explanation of the nature and purpose of each fund is included in the notes to the accounts.

2.Corporation tax

The company is a registered charity and is therefore exempt from tax on its income and gains to the extent that income and/or gains are applicable and applied to charitable purposes only.

3.Payments to directors

No payments were made to any directors during the year.

4. Grants, contracts & donations

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Pimento Community Project

Notes to accounts 2023-24 (continued)

6. Creditors and accruals

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7. Movements in funds

8. Staff costs and numbers

There were two part time employees during the year.

Pimento Community Project Notes to accounts 2023-24 (continued)

9. Fixed assets

10. Analysis of net assets by fund

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11. Trustee expenses

Nil

12. Related party transactions

There are no related party transactions.

13. Independent examination and accountancy services

During the period, the cost of the examination and accountancy services: Nil. 2023: Nil.

14. Glossary of terms

Restricted funds: These are funds given to the charity, subject to specific restrictions set by the donor, but still within the general objects of the charity.

Designated fund: An unrestricted fund that the Trustees have allocated for a specific purpose . Creditors: These are amounts owed by the charity, but not paid during the accounting period. Debtors: These are amounts owed to the charity, but not received in the accounting period.

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