EASTSIDE EDUCATIONAL TRUST (a company limited by guarantee) DIRECTORS, AND TRUSTEES, REPORT AND ACCOUNTS FOR THE YEAR ENDED 31ST AUGUST 2024 Company No: 03594475 Charity No: 1077192
EASTSIDE EDUCATIONAL TRUST {a company limited by guarantee) REPORT AND ACCOUNTS CONTENTS Page Directors, and Trustees, Report 2-11 Independent Examiner's Report 12 statement of Financial Activities 13-14 Balance Sheet 15 statement of Cash Flows 16 Notes to the Accounts 17-31
EASTSIDE EDUCATIONAL TRUST (a company limtted by guarantee) DIRECTORS, AND TRUSTEES, REPORT FOR THE YEAR ENDED 31ST AUGUST 2024 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2024. The trustees have adopted the provisions of Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charilies.. Statement of Recommended Practice applicable lo charities preparing their financial slalemenls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effeclive 1 January 2019). OUR PURPOSE AND ACTIVITIES The principal aclivilies of the charilable company are lo empower young lives and young voices through participation in arts programmes that dev&lop their skills and creative thinking. Easlside's goal is to become widely known and c£lebrated as a Naltonal Cenlre of Excellence for Creative Education and learning providing Ihe highest quality creative opportunities to thousands of children and young people annually, in particulaf those in the most under-invested communities. We aim to deliver a'million differences. to young lives across London and tl)8 UK by the end of 2029 through our arts and cultural programmes. Easlside's vision is a future in which all children and young peopte's creativity is valued, nurtured and celebraled. Easlside runs creative workshops, programmes and participatory projects for children and young people to fulfil our purpose. Our progratnme of work also includes career related evenls and celebrations of the children and young people's work. Our programmes run across two strands: 1. Schools Programmes: Programmes for children and young people in Primary, Secondary and SEND schools, designed to develop their creativity, confidence, collaboration and communicalion skills. 2. Film and Digital Programmes.. Programmes designed for young people (aged 11-25 year) lo strengthen thelr confidence, technical skills around film and digilal arts, and fvture opportunities at a range of entry poinls <entTy-level, mid-level and professional-level) The objects for which the organisalion was established are: For the advancement of Ihe education of the public (particularly of young people) in dramatic and other arts, language and literature,. and For tho promotion of any chartlable purpose using the medium of dramatic and other arts. Our volunteers We use volunteers lo provide additional support in ourworkshops and creative projects. Vo5unteers provide a valuable contribution in supporting young people with their learning and also providing praclical hands-on support assisting the artists in workshop or event sellings. The volunleeI5' contribution enables us to ensure that each young person in volunleer assisted workshops has an enhanced leaming experience. Achlevements and Performance 2023 2024 was a highly significant year for Eastside as we celebrated our 30th anniversary. Our year has beon enhanced Ihrough celebrating this milestone at all of our programme sharing events as well as our 8nnual fundraising Gala event, April Foolery. Victoria Aspden (General Manager) oversaw the delivery of an excellent exhibition project funded by the National Lottery Heritage Fund leading to a 3-month installation of an interactive exhibition celebrating Eastside's 30-year hislory and enabling the organisation to engage with many of its former staff, volunteers, alumni and partners.
EASTSIDE EDUCATIONAL TRUST {a cornpany limited by guarantee) DIRECTORS, AND TRUSTEES, REPORT FOR THE YEAR ENDED 31ST AUGUST 2024 In Ihis year, the organisalion has welcomed new programme inveslmeiils and partnerships, new staff, new trustees and has delivered aur highest ever impacl figures delivering 2,420 workshops reaching 62,999 children and young people across the UK. Our period of reF)Orting {1sl September 2023- 31st August 2024) aligns with the school's academic year. Autumn Term 2023 Over this period Eastside.. Successfully launched ils 30th anniversary project with an interactive exhibition and launch event at Shoredilch library Successfully launched year 3 delivery of the SPOKEN WORD POWER national programme, working effectively with 2 new delivery partners (National Literacy Trust and Wriling Easl Midlands) alongside our existing 3 regional partners (Writing on the Wall, Merseyside-, Grimm & Co, South Yorkshire and Essex Book Festival, Essex) and Easlsido's own delivery across London. Worked closely with Alice Vulliamy (digital design) and Louis Websdale {web d8veloper) to complete a 3rd phase ofwebsile refresh in order lo launch a new look website. Successfully launched our 13th BFI Film Academy prografflme Advanced plans with our preferred builders for the basement capital project and extended the sludio space while remodelling the loilel blocks Enhanced building security wth CCTV Undertaken a series of external film and digital commissions Delivered an excellent Crealive Schools Syinposium Spring 2024 Over the period Easlside Launched our East Bank programme for Teachers and Educators enlilled 'Easl Ed- Making Ihe Classroom iggert in partnership with UCL. V&A Easl. Sadler's Wells East, BBC. and London College of Fashion, and Ihe support of the London Legacy Development Corporation (LLDC). The geographical areas we are focusing on are: Hackney, Newhani, Tower Hamlets, Wallham Forest Conducted OLtr annual Away Day al UCL East in which the full staff and board team focussed on developing a new strategy for the organisalion, We secured investment from the Paul Hamlyn Fund (PHF) Teacher Development Fund (TDF) project which we are working on in collaboration wilh Cleveland Road Primary School. The TDF grant aims lo support teachers and school leaders to develop the necessary skills, knowledge, confidence and experience lo deliv8r effective arts-based leaching and learning opportunities in the primary classroom, and lo embed learning through the arts in the curriculum. Secured an Aris Council England (ACE) Artsmark Development Programme working with 3 special needs sellings across Newham Easlside delivered April Foolery 2024 at the Criterion Theatre for ils Ihird annual fundraising gala. Funds raised tallied £29,327.30 Artists included- Jenny Eclair. Simon Brodkin, Hugh Dennis, Steve Punt, Rajiv Karla, Bella Hull, Alisdair Becketl-King, Jordan Gray, Mark Thompson Successfully concluded our 13th BFI Film Academy and continued our work with Louise Kent (an Easlside alumna) as our Production Assistant Summer 2024 John Lyon's Charity agreed to fund SPOKEN WORD POWER in London for the next 5 years {2024-20291 investing £50k per annum {£250k in lolal}- this is highly welcome news and will enable Eastside lo deepen the impact of this excellent spoken word poetry programme across Ihe capital. Eastside joined a consortium with CTVC, Film & Video Workshop and Silver Knight to prepare an application to BFI'S Film Academy Short Course Programme 2024-2025. Together we are forming the London Consortium which will offer students a minimum of 40 hours of training as they work towards their Level 2 NCFE Accreditation. Courses are designed to start in the local areas of Barking & Dagenham, Brenl, Croydon,
EASTSIDE EDUCATIONAL TRUST (a company limited by guarantee) DIRECTORS, AND TRUSTEES, REPORT FOR THE YEAR ENDED 31ST AUGUST 2024 Enlield, Newham (as outlined by DIE'S priority education inveslmenl areas). Funding from the BFI was approved in July 2024 Eastside's Artisls in Residence programme delivered 12 school creative iesidencies. Crealive Festivals commenced on 10th June and continued Ihrough to Friday 2nd July. These were the Gulminalion of the residencies, where the schools brought the local comtnunily together lo celebrate the arts and the hard work of Ihe teachers and sludenls. Some schools hosted film premiers screening animation films created by the students. whilst other schools ran poetry s5ams and drama performances hosted by their artisl and involving other students, parents and Ihe wider school community. NATIONAL PROGRAMMES SPOKEN WORD POWER - Easlside's llagship national spoken word poetry programme. In 2023124 the programme completed its third of 3 funded years in London by John Lyon's Charity and nationally by Arts Council England. 210 artisl-led workshops, 40 in-school slams 2nd 5 regional sharing events were delivered across our 6 regions this term, with some truly inspiring and powerful responses to this year's theme, Hear my Voice. This year's Regional Sharing Event at the Criterion in London was a success with over 430 attendees and 33 young people taking lo the stage lo perform. We had a range of FK)ems exploring themes such as the role of mothers, Glimal8 Ghange, young people's voices, the effect of social media on young people as well as a powerful poem about suicide. The writers of Ihe laller p08m have woll the David Andrew Poetry Award and took part in writing and editing masterclasses Ihis term to polish their final piece before creating a short film lo accompany their poem alongside one of Easlside's film makers. This yeai's annual Spoken Word Power Anthology, includes 2¢J) pmS written by young people across the Country on the theme of Hear my Voice and was published in July 2024. Our Fulure Leaders programme, a training programme for emerging poet facililalors, has also been Gompleled, with 11 Future Leaders having joined us al 3 online lab-slyle workshops run by Poet Educalors. They also shadowed mentor artisls in their regions. having Ihe chance to plan wilh and deliver alongside their mentor arlisls in the schools participating in the programme. Many were asso involved in their regional sharing events an(J have contributed to the Anthology. Spoken Word Power 2024-2025 launched in early June and we are looking forward lo welcoming another 10 schools on board next academic year to lake part in Spoken Word Power London. CREATIVITY LIVE - Easlside's national live stream workshop offer. Creativity Live, our digital programme, that offers interactive livestreams lo KS2 and SEND students across the UK consists of two 'feslivals'. Celebraling Diversity and Celebraling Wellbeing, Creativity Live offers Primary schools the opportunity to explore these topics through the Liveslreaffls twice a year. and support Ihal learning with a series of on- demand video workshops. For our first set of Live Streams this year, our artists Desree and Paul delivered Iwo back-lo-back Livestream sessions celebrating Diversity in classrooms through the exploration of the hislory and Iraditions of Notting Hill Carnival this October 2023, for Black History Month. Thi5 was our mosl successful livestream yet in terms of reach, with approximately 188 schools laking part and over 750 classes. It was a busy. and very exciting day. Crealivity Live Celebrating Wellbeing feslival look place in May 2024, working wilh KS2 and SEND sludents lo find their peaceful place using drama and poetry. These workshops aimed lo add to the sludents. wellbeing toolkits and injecl some creativity into the schools, celebration of Mental Health Awareness week. We had over 5000 young people lake part in the workshop across Ihe day achieving positive feedback, see some examples of this below.. 'An enjoyable, engaging experience had by all. In a chaotic wortd, stopping to tune into our peaceful placè is refreshingly essential.. Teacher at Byker Primary School
EASTSIDE EDUCATIONAL TRUST {a company limited by guarantee) DIRECTORS, AND TRUSTEES, REPORT FOR THE YEAR ENDED 31ST AUGUST 2024 'Il was a good message (especially as we slart to think about the Iransilion to secondary school) lo have the place they can imagine. I will try lo refer to this al times of anxiely before Ihe end of tenn.. Teacher at Cuberi School PRESS AND MARKETING This has been a busy year for our marketing and communications work as we have worked hard lo celebrate our 30th anniversary, not only with our alumni, currenl and former staff. trustees and partners bul we have also displayed our anniversary exhibition in the public realm encouraging the public lo engage and interact with Ihe exhibition's headline question.. 'Being Giealive is important lo me because... Easlside secured a double page spread featura in the November 2024 Love Hackney issue, as wèll as a smaller feature in their January issue, covering the 30th Anniversary Exhibition. Our CEO. Matt Lane, was interviewed by London Live, covering.lhe 30th Anniversary, the exhibition, and Ihe impact we have on young people. This appeared on their evening news. Eastslde also announced Edward Benyon's appointment as the new Chair of the board. We worked closely with Edward's press team to promote his appointment at the end of last year. securing a feature on Arts Professional. The team celebraled the aGhievemenls of our now annual Gala Evenl- April Foolery, securing several press items with the Ham & High newspaper, a long-time supporter of Ihe event. Social Media We have been maintaining a schedule of regular posts across our social media channels. wilh a particular focus on Inslagram and X (lormerly Twilter)- Our total social media following across all channels has grown over the year from 7,105 to 8.633, Mall outs We have been continuing to send out regular weekly n7 outs to our Schools list. and monlhly mail ouls to our general list. At the end of the lime period, we had 8,160 subscribers across all 3 of our lists, and have seen 2544 new sign ups over the year. Webslte In early SepleiT)ber 2023 we launched our updated website which brings our branding up to dale willi Ihe rest of our outpuls, allowing us greater flexibility to update the conlenl. and helps our audiences access Ihe information they might need more easily Ihan previously. We have seen a great improvement in visitors and session lime since the launch. In the months pre-launch. we achieved 2.9k average views per monlh, and 32 seconds session lime. Posl-launch we havo seen a great increase in these numbers. reaching 8.1k views in Seplember 2023, 6.9k views in October, and an average of1 min 30 seconds session timé. PLANS FOR THE FUTURE: Building on the organisalion's extensive activities and celebrations during the 30th anniversary year, Easlside's CEO I Artistic Director, along with full participation and contribulion from the board and slaff 18ams. has delivered a new organisational strategy and business plan erTrtilled Eastside- Launching a New Decade12024-2029). This new strategy takes the place of the former plan 'Unlockino Creative Polenlial, business plan {2018-20231 and will lead the organisalion forward for five years starting in 2024. This plan clearly articulates Ihe organisalion's vision, mission, aims 2nd values as well as lawng out SMART objectives and largets for Ihe organisalion. comprising new business developmenvschools, programmelfilm and digital pro9ramffle strategies. Easlside is now poised lo deliver this new. evolved strategy supported by a refreshed board and the appointment of a new chair of trustees {Nov 2023). We wi51 lake our leamiThJ forward in order to reach even wider pools of children and young people. We w¢ll continue to focus our efforts into areas where we can make the most impact and where our unique offer can make Ihe biggest dtfference to the lives of the young people thal we engage with. The staff team is operaling effectively within the newly arranged depattrnental structure (Schools Programmes and Film and Digital Programmes) and key appoinlmenls have been made to support the work of these departments. Easlside will now work lowards growing the scale and impact of our work with schools and enhancing our reach digitally and online.
EASTSIDE EDUCATIONAL TRUST {a cornpany limited by guarantee) DIRECTORS. AND TRUSTEES, REPORT FOR THE YEAR ENDED 31ST AUGUST 2024 We are particularly determined to achieve conlinualion, growlh and expansion of our flagship nalional programmes SPOKEN WORD POWER and Creativity Live. Abngside this we wish to further grow Ihe reach and impact of our Greater London E2slside Schools workshops programme and Artists in Residence programme, reaching more boroughs and more schools. We also wish lo support the growth of the Easl Ed piogramme in East London. Our new Norlh Star Statement Eastside's goal is to become widely known and celebrated as a National Centre of Excellence for Creative Education and learning providing Ihe highest quality creative opportunilies to thousands of children and young people annually, in parlicLilar those in the most under-invesled comfflunities. We aim to deliver a 'million differences, lo young lives across London and the UK by the end of 2029 through our arts and cultural programmes. Each 'difference' is a unique opportunity to access and participate in the arts, which is fundamental lo developing crilical-lhinking, social and technical skills and lo building Ihe fulure prospects of children and young people. Staff ing changes In this period Eastside has.. Undertaken a comprehensive chair and trustee recruilment programme appointing a new chair and four n8W Iruslees Appoiiiled Fliss Gush as Easlside's new Schools Programme Manager following Maddy Page's transition from Ihal role to start working with Easlside on a freelance basis as Developmenl Manager. Appointed Rosemary Foster as the new Schools Engagement Coordinator (4th Dec 2023) Easlside extended Kale Murphy's Contract as Marketing and Communications coordinator until the end of April 2024 as a full-time rol8. Since 1s1 May 2024, Kate has been working 3 days a week for Easlside as a freelance Marketing and Communications ¢oordinalor. After 3 years of seNice Sam New left his position of Facilities and Finance Assistanl on 11 th March 2024. Easlside has appointed Charlie Humphreys as his successor. Eastside's Creatlve Case for Diversity Easlside's vision is 'a future in which every child and young person's crealivily is valued, nurtured and celebrated. Aims 1 and 2 of Easlside's new 2024-29 business plan are: 1. To inspire and empower all children and young people lo express their voices 2nd realise their full creative potential. 2. To be fully inclusive, relevanl and repre.senlalive of Ihe commLJnities that we serve. Again, Ihis year, Eastside has welcomed the arrival of a dIVee array of artists lo deliver our programmes of work. Easlside continues to use tlie 'blind' recruitment processes for all recnjitment activities lo ensure that we remove any. unconscious bias from our recruilfflenl processes. East5ide continues to work hard to creale opportunilies for those young people who need il mosl. Aim 4 of Eastside's new plan state5: To explore and incorporate appropriate cutting-edge new technology into our creative projects to enrich our offer. meaningfully grow our reach and find new ways lo deliverour work. With the expansion of our digilal schools. workshop offerings (Creativify Live) we are now able to reach young people across the country in schools where we formerly had no presence. One of our new Iruslees. Monti Kgengwenyane brings a blend of technological insight and innovative Ihinking lo Ihe organisation's mission. His focus is on leveraging cutling-ed9e technology such as Al lo enhance Eastside's outreach and delve into deeper realms of creativity and impact. In addition, the great success of our Nalional programme SPOKEN WORD POWER. further enhances Easlside's reach beyond the capital.
EASTSIDE EDUCATIONAL TRUST (a company limited by guarantee) DIRECTORS, AND TRUSTEES, REPORT FOR THE YEAR ENDED 31ST AUGUST 2024 PREMISES In January 2019, Easlside Educational Trust {EET) established a Irading subsidiary company, Easiside Resource Management Limiled (ERM Ltd) to lake on the effeclive running of the building's activities including meeting room, equiprnenl and desk space hire. ERM Ltd aims to gift aid any profits generated from this activity lo EET, and also aims lo remit £51,000 a year lo Ihe parent charity as a commercial rent for use of Ihe space. Following the commissioning of a full access audit and biiilding suNey. funds have been raised from the Foundation for Future London to undertake a remodelling of the basement spaces lo make them more flexible for building users and more allraGtive lo third parly hirers. Furlher applications have been made lo Hackney Council to further improve the premisés. Management and governance Eastside takes a rigorous and proaclive approach lo management and governance. Eastside's managemenl leam works closely lo support the maximum engagement of all trustees responsible for Easlside's governance through providing direct reports and engaging with all key agenda poinls at board level meetings. The board also enoages diieclly with fundraising and development aGlivilies as well as with the Annual Away Day. Eastside possesses a risk register which is reviewed regularly at board meetings and reports annually on environmental performance and sustainability. Publlc beneflt statement In shaping the objectives for the year and planning aclivilies, the Iruslees have considered the Chariiy Commission's guidance on public benefit, induding the guidance 'public benefit.. running a charity (PD2). The achievements and activities above demonslrale the public benelil arisin9 through the Charily's activilies. FINANCIAL REVIEW Eastside continues to work very hard lo ensure its activities and programmes can grow and thrive following the serious impacts of the pandemic whilst navigating new challenges including the cost of living crisis and public sector slrikes and cuts (indudlng wlthln schools and educalional sellings). Thanks lo the hard work, delerminalion, perseverance and dedication of Ihe senior executive teams, the staff. the board and Eastside's partners, the organisation achieved income of £648,658. Eastside posted an unreslricled deficit of £5,919 (2023- deficit £39,184) lo decrease unreslricled funds (0 £444,116 {2023- £447,237). Easlside continues lo implemenl key changes in its pro¢esses, procedures, operations and activities in order lo improve the financial viability and overall financial health of the organisation. Sue Kowszun (Finance Associate) has iniplemenled a new system of management accounts to aid Iruslees in Iheir decision-making processes. Alongside this the organisalion has created a brand-new fundraising strategy. All pragramme teams are empowered lo manage and monitor their own budgels, with regular check-ins and reporting to senior management lo ensure that programme budgets and margins are being mel. All staff understand that strong financial controls are key to maintaining the growth of their individu21 programmes and the wder organisalion. Outside of staff focussed fundraising efforts. individual giving remains on the low side at Easlside and the refreshed Iruslee board will continue to develop its thinking around growing this income stream. The board welcomed the SLJccess of the annual April Foolery fundraising gala which took place at The Criterion Theatre in the West End in Apiil 2024. Easlside maintaiiis sufficient reserves to cover any unexpected costs or unforeseen staffing costs Ihat have not been considered in the normal course of business for the charily. Risk Management The Board of Trustees has considered the major risks to which the charity is exposed and has reviewed these risks and established systems and procedure5 to manage them. A risk regisler is reviewed regularly at board meetings to assess the major risks faced by the charity and to ensure that the trustees (acting as directors of the charilable company) have a sound knowledge of the charity and are in an f0ed position regarding ils operations.
EASTSIDE EDUCATIONAL TRUST (a company limited by guarantee) DIRECTORS, AND TRUSTEES. REPORT FOR THE YEAR ENDED 31ST AUGUST 2024 Reserves Policy The undesignated liquid reserves held by the charily are £31,814 {2023 - £31.543). The Gharilable company maintains a reserve level of designated funds lo cover any unforeseen cosls or disruption to the business. The designated funds are lo cover the key operational factors ol the charitable company which include building maintenance, equipmenl maintenance and IT infrastructure, slaff conlingency fund and The Lund fund. In the trustees, view, the reserves should provide the charity with adequate financial stabilily and the means for il to meet its charitable objectives for Ihe foreseeable lulure. The trustees propose lo work lowards maintaining the charity'5 reserves al a level which is at least equivalent to Ihree months, support costs (£50k) and recognise that tha 2023124 period was another challenging year given the cessation of pandemic re121ed support, the cost-of-living crisis and public sÈclor strikes. Nonetheless, the board is comfortable with currenl reserves levels and will work towards elevating Iliese in the 2024125 period. The trustees review Ihe amount of reser¢es that are required lo ensure Ihal they are adequate lo fulfil the charity's continuing obligalions on a quarterly basis at their quarterly board meelings. Principal funding sources Principal funding sources this year have been grants from a range of grant funders and conlracls. Thess funds are used lo provide services in furtherance of the Charity's objectives. as described above. Investment powers and policy Under the Memorandum and Articles of Association, the Charily has the power to make any investment the trustees see fil. The Iruslees have considered the most appropriale wlicy for investing funds and have found that cash deposits meet their requiremenls to generale income. Related parties Eastside Resource Management Ltd is a wholly owned subsidiary of the Charily. The Charity receives rent from the subsidiary whose principal activity is property management. The Charity in tum pays Eastside Resource Management Ltd for service charges for the maintenance of the building. Further informalion on relaled party Iransactions, including those associated wilh trustees, are disclosed in nole 19 of the notes lo the accounts. STRUCTURE GOVERNANCE AND MANAGEMENT The organisation is a charitable cofflpany limited by guarantee, incorporated on 8th July 1998 and registered as a charity on 3rd June 1999. Registered Charity number 1077192. The Gharitable company was established under a Memorandum of Associalion, which established the objects and powers of the charitable company and is govemed by ils Articles of Associalion. Recruitment and appointment of Trustees The Directors of the organisation are also the charity trustees for tho purposes of charity law. New trustees will be elected by exisling trustees on the board and the CEO l ArtistlG Director in line with revised governance standards in which key areas and skill gaps are identified and addressed. Trustee posts afe advertised through Iruslee finders and on the website. Polenlial Iruslees whoso profile fills skills gaps are then invited lo meel with Iruslees. the CEO l Artistic Director and senior mana9emenl leam in order to determine whether they are suitable to join the board after which they are asked to shadow the board. One third of Ihe directors of the charitable company (who act as the council of trustees for the charity) retire every year. The trustees have no beneficial interest in the company other than as members. The trustees are also the directors of the company. All of the trustees are members of the company and guarantee lo contribute £1 in event of winding up.
EASTSIDE EDUCATIONAL TRUST (a company limited by guarantee) DIRECTORS, AND TRUSTEES, REPORT FOR THE YEAR ENDED 31ST AUGUST 2024 Trustee induction and training All new Board of Twslee memiErs receive an induction on joining Easlside Educational Trust which includes- Roles and nature of the organisation and their role I responsibilities within it. Full understanding of the spiriuaim of Ihe Easlside Educational Trust's Equal Opportunities l Diversity ommilmenl. Understand the practical day-to-day implications of whal is expected of all workers. Organisation The Board of Trustees meet al least four times a year including lermly board meetings and an in person Away Day each May and discuss the broad strategy. programme of work and fulure direction foT the organisalion. The Board oversees the charity's finances arid undertakes periodic reviews of all policies in line wilh best practice for chartties. Board members also visit projects and workshops and will undertake any adminislralive issues thal may arise. Pay policy for senior staff Pay for senior staff is determined by the board and reviewed on a annual basis as part of the budget setting process.
EASTSIDE EDUCATIONAL TRUST {a company limited by guarantee) DIRECTORS, AND TRUSTEES, REPORT (Contld) FOR THE YEAR ENDED 31ST AUGUST 2024 REFERENCE AND ADMINISTRATIVE DETAILS Company Number: 03594475 Charity Number.. 1077192 Directors l Tru5tees'. Terry Corby (Chair) (resigned: 30th November 2023) Edward Bonyon (appointed as Chair on 30th November 2023) Sarah Scanlon (Depuly Chair) {resigned on 30 November 2023} Andrew Hall (Treasurer) Anna Nicholson (resigned on 30 November 2023) Laura Herman Nina McKay Ankil Anand Thomas Webb Hari Sahalhevan Urs Banziger (appointed 28th June 2024) Tijana Milosevic (appointed 18th June 2024) Samantha Tulloch (appointed 18th June 2024) Motheo Kgengwenyane (appoinled 181h June 20241 Senlor Management Team: Malthew Lane (CEO) Wicloria Aspd8n (General Manager) Registered Office: Suite 16, Perseverance Works, 37 Hackney Road. Shoredilch, London E2 7NX Independent Examiner.. Mr Samir Shah, Ramon Lee Lld, 93 Tabernacle Street, London EC2A 4BA Bankers". Royal Bank of Scotland, 36-37 New Bridge Streel, London EC4V 6BJ COIF Charity Funds. CCLA Investment Management Ltd, 80 Cheapside, London EC2V 6DZ WebsTte: https.'Ileastside.org.uk io
EASTSIDE EDUCATIONAL TRUST {a company limited by guarantee) DIRECTORS, AND TRUSTEES, REPORT {ConVd) FOR THE YEAR ENDED 31ST AUGUST 2024 TRUSTEES, RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS The trustees (who are also direclors of the Easlside Educalional Trust for the purposes of company law) are responsible for preparing the Trustees, Annual Reporl and the financial statements in accordance with applicable12W and United Kingdom Accounting Standards (Uniled Kingdom Generally Accepted Accounlirbg Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the Irijstees lo prepare fir)ancial slatemenls for each financial year which give a Irue and fair view of the slate of affairs of Ihe charitable company and of Ilie incoming resources and application of resources, including the income and expenditure. of the charitable Gompany for that period. In preparing these financial stalemei)Is, the trustees are required lo.- select suitable accounting policies and then apply them consislenlty: observe the methods and principles in the Charities SORP" make judgements and eslimales Ihal are reasonable and prudent.. slate whether applicable UK Accounting Slandards have been followed. subject to any material departures disclosed and explained in the fir)ancial statemenls: prepare the finanGial stalemenls on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy al any lime the financial position of the charitable company and enable them lo ensure that the financial statements ¢omply with the Companies Act 2006. They are also responsible for safeguarding the assels of the charitable Gompany and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for maintenance and inlegrily of the corporate and financial information included on th8 charitable company's website, Legislation in the Uniled Kingdom governing the preparation and dissemination of financial slalemenls may differ from legislation in other jurisdiclions. This report has been prepared in accordance wilh the special provisions of Part 15 of th8 Companies Act 2006 relating to small companies. APPROVED BY THE BOARD AND SIGNED ON ITS BEHALF BY: LL Edward Benyon CHAIR ANDREW HALL TREASURER Suite 16, Perseverance Works 37 Hackney Road Shoreditch, London E2 7NX 19 November 2024 li
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF EASTSIDE EDUCATIONAL TRUST I repoil lo the trustees on my examinalion of the financial slatements of The Easiside Educational Trust (the Charitable company) for the year ended 31 August 2024. This report is made solely lo the charilrfs trustees. as a body, in accordance with the Charities Act 2011. My work has been undetlaken so Ihal I might slate lo the charitvs Irustees Ihose malters l am required to slate to them in an independent ex3minei"s report and for no other purpose. To Ihe fullest exlenl permilled by law, I do not accept or assume responsibility to anyone other than the charity and the charilvs Iruslees as a body, for my Independent Examination, for this report, 01 for the opinions I have formed. Responsibilities ar)d basis of report As the truslees of the Charitable company (and also ils diieclors for the purposes of company lawl you are responsible for the preparation of Ihe financial slalemenls in accordance wilh the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied myself that Ihe financial slalements of the Charitable cA)mpany are not required lo be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of the Charitable company's financial slalemenls carried out under section 145 of Ihe Charities Act 2011 (the 2011 Acl). In carrying out my examination I have followed all the applicable Directions given by the Charily Commission undér section 145(5)(b) of the 2011 Act. Independent examiner's statemont Since the Charitable company's gross income exceeded £250.000 your examiner must be a member of a body lisled in section 145 of the 2011 Act. I confirm Ihal l am qualified lo undertake the examination because l am a member of ICAEW, whl¢h is one of the listed bodies. I have completed my examination. I confirm that no mallers have come to my attention in connection with the examination giving me cause lo believe Ihal in any material respecl: 1) accounting records were not kept in respect of the Charitable company as required by section 386 of the 2006 Act., or 2) the financial statements do nol accord wilh those records. or 3) the financial statements do not comply with the accounting requiremenls of seclion 396 of the 2006 Act other than any requirement that the accounts give a Irue and fair view which is not a malter considered as part of an independent examinalion., or 4) the financial slalernenls have not been prepared in accordance wlh the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable lo charities prep3ring Iheir acmunls in accordance with (he Financial Reporting Standard applicable in the UK and Republic o* Ireland {FRS 102). I have no concerns and have come across no other matters in conneclion with the examination lo which altention should be drawn in this report in order to enable a proper underslanding of the financial stalements to be reached. Samir Shah FCA, ATII Ramon Lee Ltd Chartered Accountant5 93 Tabernacle Street London EC2A 4BA Dated: 19 November 2024 12
EASTSIDE EDUCATIONAL TRUST {a company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2024 SUMMARY INCOME AND EXPENDITURE ACCOUNT Current f inancial year: Notes Unrestricted Fiinds Restricted Funds 31108J2024 3110812023 Incoine Donations Income from charitable acttvilies Income from olher trading a¢livilies Investment income 98.836 109.641 615,902 4.687 976 99,812 475,257 68.902 4,687 106,945 363,790 60,611 5,302 365,616 Total income 282,066 366,592 648,658 536,648 Expenditure Cost of raising funds Expenditure on charitable activities 43,318 241,869 43,318 611,259 35,752 540,080 369,390 Total expenditure 285,187 369,390 654,577 575,832 Net incomellexpenditurel and net movement in funds for the year {3.121) (2,798) (5,919) (39,1841 Reconciliation of funds Total funds, brought forward 447,237 42,006 489,243 528,427 Total funds, carried forward 444.116 39,208 483,324 489.243 The unrestricted funds tolalling £444,116 as detailed in Note 18, inGludes capital assats of £785.889 {including Suite 16, Perseveran¢e Works from where the charity operates). a long-term loan of £391,947 (in Ihe form of a mortgage against the property), other fixed assels of £100 and undesignaled liquid funds of £31,814. As such the sigriifiL'ant Tnajorily of general funds remain lied up within the value of the property from which Eastside Educational Trust operates. CONTINUING OPERATIONS None of the charity's activities were acquired or disconlinued during Ihe above Iwo financial years. TOTAL RECOGNISED GAINS AND LOSSES The charity has no recognised gains or losses oiher than Ihe above movemenl in funds for the above iwo financial years. The notes on pages 17 to 31 form part of these financial stalements 13
EASTSIDE EDUCATIONAL TRUST (a company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2024 SUMMARY INCOME AND EXPENDITURE ACCOUNT Prior financial year.. Notes Unrestricted Funds Restricted Funds 3110812023 Income Donations Income from charitable activities Income from other trading activities Investment income 88,831 111.527 60,611 5,302 18,114 2b2.263 106,945 363,790 60.611 5,302 Total income 266,271 270.377 536,648 Exp8nditure Cost of raising funds Expenditure on charitable activities 35,752 221,005 35,752 540.080 319,075 Total expenditure 256,757 319.075 575,832 Net Incomel(expenditurel and net movement In funds for the year 9,514 (48,698) (39,184) Reconciliation of funds Total funds, brought fornvard 437.723 90,704 528,427 Total funds, carried forward 447,237 42,006 489.243 The notes on pages 17 to 31 fortn part of these financial stslemenls 14
EASTSIDE EDUCATIONAL TRUST (a company limited by guarantee) BALANCE SHEET AS AT 31ST AUGUST 2024 Notes 31J0812024 3110812023 Fixed assets Tangible fixed assets Investment 12 13 785.889 100 796,941 100 Currei)t assets Debtors 14 71,895 118,286 20,353 148,605 Cash al bank and in hand 190,181 168.958 Liabllities Creditors falling due wilh in one year 15 (100.899) {73.711) Net current assets 89,282 875,271 95,247 892,288 Creditors falling due after more than one year 16 (391,947) (403,0451 Net assets 483,324 489,243 The fuiids of the charity Unrestricted funds.. General 17 17 17 425,856 18,260 39,208 425,539 21,698 42,006 Deslgnated Reslricled funds Total charity funds 483,324 489,243 For the financial period ended 31SI Augusl 2024 the company was enlilled lo exemplion from audit under section 477 Companies Act 2006. No member of the Gompany has deposited a notice, pursuant to seclion 476, requiring an audit of these financial statements under the requirements of thp. Companies Act 2006. The directors acknowledge their responsibilities for.. a) ensuring that the charitable company keeps accounting records ihal comply with Sections 386 and 387 of the Companies Act 2006 and b) preparing financial statements which give a Iiue and fair view of Ihe slate of affairs of the Gharitable company as al the end of each financial year and of ils surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which olherwise comply with the requirements of the Companies Act 2006 relating to financial statements. so far as applicable to the charitable company. These financial statements have been prepared in accx)rdance with the provisions applicable to Companies subject to the small companies, regime within Part 15 of Ihe Companies Act 2006. e accounts were approved and aulhorised for issue by the Board of Directors and Trustees on 19 November ere signed on its behalf by- Edward Benyon Company Number Andrew Hall 03594475 The notes on pages 17 10 31 form part of these financial statements 15
EASTSIDE EDUCATIONAL TRUST (a company limited by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31ST AUGUST 2024 2024 2023 Cash used i n operating activities 16,395 16,513 Cash f lows from invésting activities Interest income 4,687 5.302 (530) Purchase of tangible fixed assels Cash provided by l (used inl investing activities 4,687 4,772 Cash flows from financing aclivitles Repayment of borrowing Interest on borrowing (11,098) {40,303) (27.2701 (24,095) Cash used in f inanclng activities {51,401 (51,365 Increase l (decrease) in cash & cash equivalents in the year (30,319) (30,0801 Cash & cash equivalents al Ihe beginning of the year 148.605 178,685 Total cash & cash equlvalents at the end of the year 118,286 148,605 2024 2023 Net movement in funds Add back depreciation Add back interest on borrowings Deduct interest income shown in investment activities Decrease l {increase) in debtors Increase l (decrease) in creditors (5,919) 11,052 40.303 (4,687) (51,542) 27,188 {39,184) 11,296 24.095 (5,302) 16,651 8,957 Net cash used in operating activities 16,395 16,513 The notes on pages 17 to 31 form part of thése financial stalemenls 16
EASTSIDE EDUCATIONAL TRUST {a company limited by guarantee) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST AUGUST 2024 ACCOUNTING POLICIES Basis of preparation of accounts The financial slalomenls of the charitable company. which is a public benefil under FRS 102, have been prepared in accordance wilh the Charities SORP (FRS 102) 'Accounling and Reporling by Charities.. Slalemenl of Reconimended Practice applicable to charities preparing their financial statemenls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January 20191,, Financial Reporling St2ndard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial slalements are prepared in sterling. which is the functional currency of the Charity. Monetary amounts in these linancial slalemenls are rounded lo the nearesl £. The financial slalemenls have been prepared under the historical cost convention wilh items recognised at cost or transaction vallie unless olhefwise slated in the relevanl nole(s} to these financial statements. Group accounts oxemption The charity has taken advantage of the exemplron under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis Ihal the group of which this is the parenl qualifies as a small group. The financial stalemenls present information aboul Ihe charity as an individual entity and not about its group. Preparatlon of accounts on a going concern basis The charity's Financial Slatemenls shows a nel deficit of £5.919 (2023 - nel deficit of £39,184) for the y68r and free reserves of £31,814 {2023 - £31.543). The tnjstees are of the view Uiat the charity has adequat8 reserves and that currenl and future cash flows are sufficiently strong to operate effectively as a golng concern. Income recognitlon All income is included in the slatement of financial activities when the charity is legally enlilled to it, receipt is probable and the amount can be measured wilh sufficieiil reliability. Grant income Granls are credited to the slatemenl of financial activities when Ihe charity is entitled to the funds. Income is only deferred where there are time conslrainls imposed by the donor or if the funding is performance related. Where enlillemenl to grants receivable is dependent upon fulfilmenl of conditions within the charity's control, the income is recognised when Ihere is sufficieiil ovidence that conditions will be mel. Grants supporting Ihe core activities of the charity and wilh no specific reslriclions placed upon their use are included within donations and legacies. Grants that have specific restrictions placed upon Iheir Lise are included within income from charitable aclivilies. Capital grants for the purchase of fixed assels are crediled to restricted incoming resources on the earlier date of when they are received or receivable. Deprecialion on Ihe related fixed assets is charged against the restricted fund. Donations and legacies Donations are recognised in the period in which Ihey are received. Legacy income is recognised when the charity's enlitlemenl is judged lo be probable and where the amount can be reliably measured. Contract income Income from charilable activities include income recognised as earned (as the related goods and services are provided) under contract. 17
EASTSIDE EDUCATIONAL TRUST (a company limited by guarantee) NOTES TO THE ACCOUNTS (Contld) FOR THE YEAR ENDED 31ST AUGUST 2024 Income recognition (Contld) Investment income Inveslmenl income is included when receivable. Donated services and facilities Donated professional services and donated facilities are recognised as income when Ihe charity has control over the item, any condilions associaled with Ihe donated item have been mel, the receipt of economic benefit from the use by the charity of the item is probable and thal ecx)nomic benefit can be measured reliably. In accordance with the Charilies SORP {FRS 102). the general volunteer time is not recognised and refers lo the trustees, annual report for more information about their conlribulion. On receipt, donated professional seNices and donated facililies are recognised on the basis of Ihe value of the gift lo the charity which is the amount the charity would have been willing lo pay lo obtain Se18 or facAlilies of eqLtivalent economFC benefil on the open market; a corresFK)nding amount is then recognised in expenditure in the period of receipt. Expenditure recognltion and Irrecoverable VAT Expenditure is recognised once Ihere is 8 legal or conslruclive obligation lo make a payment to a third party, it is probable that seltlemenl will be required and the amount of the obligation can be nieasured reliably. Expenditure is classified under the following aclivily headings.. (a) Cost of raising fLFnds comprises costs of seeking donations and grants and room hire and their associated support costs. (b) Expenditure on charitable aclivilies includes the costs directly associated with running educational programmes, to further the purposes of the chaiily and their associaled supporl costs. Irrecoverable VAT is charged as a cost against Ihe activity for which the expenditure was incurred. Allocation of support costs Support costs are those functions that assist the work of the charity bul do not directly undertake charitable aclivilies. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity's programmes and activilies. These CA)Sts have been allocated between cost of raising funds and expenditure on charitable activities. The basis on which support costs have been allocated are set out in note 8. Fund accounting Unrestricted funds are available to spend on activities that furiher any of the purposes of Gharily. Designated funds are unreslricted funds of the charity which the trustees have decided al their discretion to set aside to uso for a specific purpose. Restricted funds are don8lions which the donor has specified are lo be solely used for particular areas of the charity's woik or for specific projects being undertaken by ihe charity. 18
EASTSIDE EDUCATIONAL TRUST (a company limited by guarantee) NOTES TO THE ACCOUNTS (Contld) FOR THE YEAR ENDED 31ST AUGUST 2024 Tangible fixed assets Tangible fixed assets are staled at cost les5 depreciation. Individual fixed assets costing £500 or Inore are capilalised al cost. Depreciation is provided at rates calculaled lo wrile off Ihe cost or valuation of fixed assets, less their estimated residual value. over Iheir expected uselul life on Ihe following basis. Freehold land is not depreciated. Leasehold property 100 years from the dale of acquisition Plant and machinery 20t•/o per annum on cost Furniture, fixtures and equipmenl 20/0 perannum on cost Computors equipment 20 /0 per annum on cosl The trading subsidiary, Easlside Resource Management Limited. receives grants for improvements to the leasehold property which are shown in Ihe subsidiary company accounls. 1.10 Investments Fixed asset investments are slated al cosl less provision for diminution in value. 1.11 Debtors Trade and other debtors are recognised at the setllemenl amount due after any trade dlscounl offered. Prepayments are valued at the amount prepaid net of any trade discounls dLJe. 1.12 Cash at bank and in hand Cash at bank and in hand includes ¢ash and short lemi cash deposits. 1.13 Creditors and provlsions Creditors and provisions are recognised where the charity has a present obligation resulling from a past event Ihal will probably result in the Iransfer of lunds lo a Ihird party and the amount due to sellle thè obligation cali be measured or estimated reliably. Creditors and provisions are normally recognlsed at their selllemenl amount after allawing for 8ny trade discounls due. 1.14 Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial inslrufflents are initially recognised al Iransaclion value and subsequently measured at Iheir selllement value with Ihe excepiKJn of bank loans which are subsequently measured at amortised cost usin9 the effective interest method. 1.15 Pension The charity operates a defined conlribuliors pension scheme on belialf of ils einployees. Contributions are charged lo the Slatemenl of Financial Activities in Ihe period in which Ihey are payable. The a55els of Ihe scheme are held separately from those of the charity in an independently administered fund. 1.16 Taxation The charity is a registered charity and, Iherefore, is riot liable for Income Tax or Corporation Tax on income derived from its charitable activities, as il falls within the various exemplions available to regislered charities. 1.17 Judgement and key source5 of estimation uncertainty In the application of the company's accounting policies. the chaiity is required to make judgments, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources, The estimates and associated assumptions are based on historical experien and other factors that are considered to be relevant. Actual results may differ from Ihese eslimates. The estimates and underlying assLJmplions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where ihe revisK)n affects bolh currenl and future periods. 19
EASTSIDE EDUCATIONAL TRUST (a company limited by guarantee) NOTES TO THE ACCOUNTS (Contld) FOR THE YEAR ENDED 31ST AUGUST 2024 1.18 Volunteers and donated services and facilities Donated professional services and donaled facilities are recognised as income whèn the Charity has control over the item, and corbdilions associated with the donaled ilem have been mel, the receipt of economic benefit from the use by the Charity from the ilem is probable and Ihat economic benefil can be measured reliably. In accordance with ihe Charities SORP {FRS102) the general volunteer time is not recognised and refers lo the Iruslees, annual report for more informalion aboul their conlribulion. On receipt, donated profe.8siona5 services and donated facilities are recognised on the basis of the value of the gift lo the Charity which is the amounl the Charily would have been willing to pay to obtain setvices and facilities of equivalent economic benefit on the open market- a corresponding afflounl is Ihen recognised in expenditure in the period of receipt. GRANTS, DONATIONS AND LEGACIES Unrostrlcte R8slrfcted TolAI Unrestrlcled Funds Restrtcted rotal Funds Fuiids 2024 Funds 202J Adobe Fund Am8zon Foundalion Rolhchllds FoundaliD Harbour FoundalSon AKO Foundalbn David Andrew PoelryAward Glrt aid Easl8lde Resouwce Mana9ernenl Lld otherdonallons Donations In n0 2.081 2.081 7.000 1,45Q 5.00¢ 5.000 976 7.BOO 1S,f14 22,914 1.450 976 3,000 3,000 993 1,083 6.000 8,895 62,327 1.083 6,aC 8,895 62.327 993 24.242 55,796 24,242 $5,796 8,836 976 99.812 88.831 106 945 The charity is indebled to Adobe Foundalion for providing free sofiware licences, Slack Technologies, Inc. for communication software, Color Consultancy Limited for discounted Salesforce consultancy services, Essex Book Feslival for additional promotional support, senior manageineiil oversight and venue support and UNESCO UK for staff time and promotional support and Google for advertising and promotional support. The values placed on these corbtribulions are £19,950 (2023 - £19,950), £0 (2023 - £1,469), £3,195 {2023 £3,195), £6,500 {2023 £6.500) £5,00012023 - £5,000) and £8,000 {2023.' £0) respectively. The income equivalent is recognised within income as donations, and corresponding charge included within marketing costs, information lechnology cosls and publicity costs. The charity is indebted lo Writing on the Wall for providing addilion81 project support costs and extension activities for SPOKEN WORD POWER, the Crilerion Theatre for hire of space & front of house staff for SPOKEN WORD POWER. Grimm & Co. for venue support, SPOKEN WORD POWER cross-promolion at planned events and additional Creative Learning Manager project support. National Literacy Trust and Wriling East Midlands for SPOKEN WORD POWER. The values placed on these contributions are £2,012 (2023 £2,012), £5,00012023 - £5,000). £6.00012023 - £6,0(K)), £5.000 {2023 - £5.000) and £1,670 {2023 - £1,670) respectively. The income equivalerbt Is recognised within income as donaliorbs, and corresponding charge included within direGI project costs and premises hire costs. 20
EASTSIDE EDUCATIONAL TRUST (a company limited by guarantee) NOTES TO THE ACCOUNTS (Contld) FOR THE YEAR ENDED 31ST AUGUST 2024 INCOME FROM CHARITABLE ACTIVITIES Unre5trScted Restricled Totsl Unyestrlcted Restricted Total Funds Funds 2024 Funds Funds 2023 Educatiorial seryices Grants aiid dona(lons.' Arts Councll England ." Spoken Wd P0er 123.98G 123,986 2.989 92.989 Arls Council England = Art5ma 40,000 40.000 Arts Council of EnglarLd- NPO Irdn BFI Film Acaderny John Lyon's Charlty.'Spoken Word John Lyon's Charily.-Artisls in Reslden Univeislly of East London- C£lIVe Produce Workshops Foundallon lor Future London {FFL) Foundallon lor kulure London (FFL)- CaFilal equlpmenl (und A New Dlrecilon London Llmlled 51,722 51.722 51.724 51,724 17,QQD 19.500 19.5tJ) 17,000 33.500 33.500 40.000 6,7L>) 33,500 40.2QO 40,(KJO 35.0( 35,000 7.000 15,(NJ) 15.IX#) 14.000 14,000 12,274 7.500 12.274 7.500 Nallonal Lottery Heritage Fund Foyle Four3110 DeTr%enl London plc- Artists In Resldence Paul Hamlyn Fund Unlverslly College London.. East Ed Maklng the d88sroom blgoer 35.976 35,978 30.000 30,000 10,000 10,000 4,5C 46.154 46,154 Contta¢t Income.. Schools Income 50,528 1.931 50.528 1,931 5.460 32,088 15,831 5,184 32,088 15,831 5,184 Cornmlssion Income Other ¢onlracl Income < £5.OChJ 5.460 109.641 365,616 475,257 111,627 252.263 363,79Q INCOME FROM OTHER TRADING ACTIVITIES Unrestricted Restricted Total Unresti'icted Restricted 2024 Funds Funds Total Funds Funds 2023 Product sales Office hire Criterion Theatre - fid(ets'. April Foolery 12 12 181 181 51.000 17.890 51.000 17.890 51,000 9,430 51.000 9,430 68,902 68,902 60,611 60,611 21
EASTSIDE EDUCATIONAL TRUST (a company limited by guarantee} NOTES TO THE ACCOUNTS (Contld) FOR THE YEAR ENDED 31ST AUGUST 2024 INVESTMENT INCOME Unrestricted Restricted Total Unrestricted Restricted Total Funds Funds 2024 Fundg Funds 2023 Interest on cash deposits 4,687 4.687 S,)2 5,302 4,687 4,687 5,302 5,302 NET INCOME FROM TRADING ACTIVITIES OF SUBSIDIARY The wholly owned Irciding subsidiary, Easlside Resource Management Lirnited, which was Incorporalod on 20th1 December 2018 and registered in England and Wales. pays all bul a small proportion of its prolils lo the charity by gift aid. The principal aclivily of Ihe subsidiary company is Ihal of property management. The charity owns the entire issued share capital of 100 Ordinary Shares ol £1 each. Accounts will be filed with the Registrar of Companies. A summary of Ihe trading resulls for the peri(KJ ended 31Yt August,2024 is shown below: 2024 2023 SUMMARY PROFIT AND LOSS ACCOUNT: Turnover Other incom&: Grants from Parent company 109, 927 110,811 31.007 2,154 Cost of sales and administration costs Rent payable to the charity 183,745) 151,000) (60,707) (51,000) Net profit 6.189 1,258 Amount gift aided to the charity (8, 0001 Prof il before tax 189 1,258 The assets and liabilities of tl)e subsidiary were: Fixed assets Current assets Current liabilities 50.252 44,788 (63,5461 57,455 23,310 (47,6091 Net Current assets 31.494 33,156 Creditors falling due after more than one year (4.445) (4,445) Net assets 27.049 27.049 28.711 Aggregate share capital and reserves 28,711 The Company directors agreed to transfer profils of £6,000 to the parent charily 22
EASTSIDE EDUCATIONAL TRUST {a company limited by guarantee) NOTES TO THE ACCOUNTS (Contld) FOR THE YEAR ENDED 31ST AUGUST 2024 ANALYSIS OF EXPENDITURE Raising Funds Educational Total Total Services 2024 2023 Staff costs Direct project costs Publicity l Marketing costs Premises hire costs General support cosls {Note 8) Governance costs (Nole 8) 24.397 77,226 313,399 26,513 6,744 166,821 20,556 101,623 313,399 32,155 6,744 178,643 22,013 97,875 259,250 3,822 6,772 187,199 20,914 5.642 11.822 1.457 43.318 611,259 654.577 575,832 2024 2023 Analysis by fund Unrestricted funds 285,187 369.390 256,757 319,075 Reslricled funds 654,577 575,832 01 the £654.577 expendilure in 2024 {2023 - £575,832), £24,192 was Charged to deslgnaled funds (2023 424,0261, £260,995 w8s charged to unreslricled funds {2023 - £232,731) 8nd £369.390 to reslricled funds (2023 - £319,075). SUPPORT COSTS The charity initially identif18s the costs of ils support funclions. It then identilies those Costs which r81ale to the governance function. Governance costs and other support costs are apportioned separately between the charity's key aclivilies undertaken (see Note 7) in the year. All the general support and governance costs have been apportioned lo the various charilable aclivilies on the basis of a proportion of direct costs, allocated to each activity. GÈnÈral Governance Total Total support function 2024 2023 Staff costs Premises costs Communications costs CRM and Projecl Management Costs Finance Associate Information technology and websile costs Mortgage interest and charges Legal and professional cos15 DepreGialion Sundry expenses Independenl examination fees Truslee5' expenses 51,508 26,517 2.546 3,795 15.718 23,157 40,303 1,463 11,052 12.877 64,385 26,517 2,546 3,795 22,454 23,157 40.303 1.463 11,052 2.584 2,400 62,th)04 25.371 1.812 8,349 18,010 49,080 24,095 877 6.736 11,296 3,949 3.000 70 2.400 178.643 22,013 200,656 208,113 23
EASTSIDE EDUCATIONAL TRUST (a company limited hy guarantee) NOTES TO THE ACCOUNTS (Contld) FOR THE YEAR ENDED 31ST AUGUST 2024 ANALYSIS OF STAFF COSTS, TRUSTEES REMUNERATION AND EXPENSES, AND COST OF KEY MANAGEMENT PERSONNEL 2024 2023 Salaries National Insurance Pension 152,500 10,364 3.144 147.648 9.632 2,799 166,008 160,079 One employee had employee benefils in excess of £60,000 (2023- One employe8). No trustee received any remuneration during the year (2023 - £nil). No Trustee received reimbursed travel expenses during the year {2023- no Trustees- £nill. The key management personnel of the diarily comprise Ihe CEO l Arlislic Director and the General Manager. The total employee benefits of the key managernenl personnel of the charity were £94,756 {2023- £90,611), The pension cost charge of £3.14412023: £2,799) represenls conlTibutions payable by the Charity lo Royal London Pension Fund. Conlribulions lotalling £687 (2023.. £7781 were payable to the fund at year end and ar8 included in other ¢reditois. 10. STAFF NUMBERS The average monthly number of full-lime staff employed by the chaTily durlng ihe year was as follows.. 2024 2023 Raising Funds Education31 services support Governance 0.62 2.35 0.84 0.02 3.13 0.81 0.20 4.16 0.21 4.02 11. NET INCOME I (EXPENDITURE) FOR THE YEAR 2024 2023 Nel incoming resources are shown afler charging.. Deprecialion of tangible fixed assets Independent examination 11,052 2,400 11,296 3,000
EASTSIDE EDUCATIONAL TRUST (a company limited by guarantee) NOTES TO THE ACCOUNTS {Contld) FOR THE YEAR ENDED 31ST AUGUST 2024 12. TANGIBLE FIXED ASSETS 2024 2023 Leasehold Properly Planl and machinery Computer equipment Furniture, fixtures and equipments 784,061 388 793,848 494 2,160 439 1.440 785,889 796.941 Leasehold Plant & Computer Equipment Furniture, Fixtures Total Property Machinery & Equipment COST As at 1st Seplernb8r 2023 Additions Disposals 978,695 34,496 22,131 49,251 1,084,573 As at 31st August 2024 978.695 34,496 22,131 49,251 1,084,573 DEPRECIATION As al 1st September 2023 Charge for the year Disposals 184,847 9,787 34,002 106 19,971 720 48,812 439 287,632 11,052 As at 31st August 2024 194,634 34,108 20,691 49.251 298,684 NET BOOK VALUES As al 31s1 August 2024 784,061 388 1,440 785,889 As a131st August 2023 793,848 494 2,160 439 796,941 13. FIXED ASSET INVESTMENT 2024 2023 Investment al cosl - Eastside Resource Management Limited 100 100 25
EASTSIDE EDUCATIONAL TRUST {a company limited by guarantee) NOTES TO THE ACCOUNTS (Contld) FOR THE YEAR ENDED 31ST AUGUST 2024 14. DEBTORS 2024 2023 Granl and contract income debtors Other debtors Easlside Resource Management Limited Prepayments Accrued income 16,018 48 6.780 1,140 7,842 46,847 8,152 5,421 71,895 20,353 CREDITORS: amounts falling due within one year 2024 2023 Trade Creditors Taxation and social security Mortgage loan Other creditors Accrua15 26.718 3,191 44,475 1,756 24,759 15,479 3,514 45,244 2,330 7,144 100,899 73,711 The mortgage loan is secured on the charity's regislered office. 16. CREDITORS: amounts falling due after more than one year 2024 2023 Mortgage 391,947 403,045 391,947 403,045 The mortga9e loan is secured on the charity's regislered offe and is repayable over 25 years from 5 Dècember 2016. 26
EASTSIDE EDUCATIONAL TRUST (a company limited by guarantee) NOTES TO THE ACCOUNTS {Contld) FOR THE YEAR ENDED 31ST AUGUST 2024 17. MOVEMENT IN FUNDS Balance Income Expenditure Transfers Balance as 01.09.23 as 31.08.24 Restricted lunds: Adobe Employee Community Fund Arts Council England - Spoken Word Power Arts Council England- Artsma Creative Schools Programine BFI Film A¢ademy Universily of Easl London Creative Producers Workshops David Andrew Poelry Award Foundation for Future London (FFL) - Capital equipment fund Foundalioii for Fulure London {FFL)- Creative Scktools Foyle Foundation John Lyon's Charity- Artists in Resldence John Lyon's Charity- Spoken Word Power Paul Hamlyn Fund Nalional Lottery Haritage Fund Universily College Lorbdon - Making the classroom bigger East Ed 8,950 8.950 123.986 40,000 123,986 14.595 13,257 19,500 25,405 13.257 19.500 7,000 976 7.000 4,272 3.296 1,934 1.934 15,000 15,000 10,272 40,000 33,500 4,500 40,273 10,272 40,000 33,500 4.500 35,976 4.297 46.154 32.351 13,803 42.006 366.592 369,390 39,208 Designated funds: The Lund Fund Building maintenance fund Equipment maintenance and IT nfraslructure fund Staff contingency fund 12,500 3,938 24.192 24,192 (2,500) {938) 10,000 3,000 2.500 2,760 2,500 2,760 21,698 24,192 24,192 3,438 18,260 General funds 425,539 257,874 260,995 3,438 425,856 Total unreslricted funds 447,237 282.066 285.187 444,116 Total funds 489,243 648,658 654.577 483.324 27
EASTSIDE EDUCATIONAL TRUST (a company limited by guarantee} NOTES TO THE ACCOUNTS (Contld) FOR THE YEAR ENDED 31ST AUGUST 2024 17. MOVEMENT IN FUNDS (Contldl Movement in funds - previous year Balance Income Expenditure Transfers Balance as 01.09.22 as 31.08.23 Restrlcted funds: Adobe Foundation Adobe Employee Community Fund Arts Council England - Spoken Word Power Creative Schools Piogramme BFI Film Academy David Andrew Poetry Award Foyle Foundation Foundation for Future London (FFL) - Capital equipment fund John Lyon's Gharily- Artists in Residence John Lyon's Charity- Swken Word Power National Lottery Herilaga Fund 1.193 1,193 15,114 92.989 21.500 17.000 3,000 30.000 6,164 92.989 43,283 17.000 3,260 19.728 8,950 35.040 13,257 3,556 3,296 10.272 19,439 12.274 35,000 33,500 10,000 29,779 35,000 33,500 37,179 1,934 31,476 4,297 90.704 270,377 319,075 42,006 Deslgnated funds: Tha Lund Fund 10.000 26.526 24.026 12,500 Building maintenance fund Equipment maintenance and IT infrastructure fund Staff conling8ncy fund 3.938 3,938 2,500 2,760 2,500 2,760 19.198 26.526 24.026 21,698 General funds 418.525 239.745 232.731 425.539 Total unreslricled funds 437,723 266,271 256,757 447,237 Total funds 528.427 536.648 575,832 489,243 28
EASTSIDE EDUCATIONAL TRUST (a company limited by guarantee) NOTES TO THE ACCOUNTS (Contld) FOR THE YEAR ENDED 31ST AUGUST 2024 17. MOVEMENT IN FUNDS {Contld) Description. nature and purpose of restricted funds- Adobe Foundation.. funding reiVed from the Adobe Foundalion towards building refurbishment, purchase of equipment and film programming. Balance carried forward represe.nts un-depreciated fixed assets. Adobe Employee Community Fund.. towards funding online workshops streamed to schools. Art5 Council England Spoken Word Power: fundiiig towards Ihe cost of our new flagship national spoken word programme. Arts Council England Artsmark: funding lo manage action research in schoolsl learning sellings to support the creative and CLiltural learrbing of children and young people with SEND Creative Schools Programme was taken over from Slratford Arts Trust who passed on the £70k raised for the project. Eastside also received £8k from Foundation for Future London and £1 Ok from A New Direclion for this work. BFI Film Academy: funding towards Ihe ¢osl of Film Academy Short Courses. Davld Andrew Poetry Award: funding towards a new young poel development sGhem8. Foundation for Future London (FFL) - Capital equipment fund: funding towards capital equipment. Foundation for Future London IFFL} Creative Schools: Westfield East Bank Creative Futures Fund Large Grant Scheme - 3-year award for the delivery of Ihe Crealive Schools progr8miiie University of East London Creative Producers Workshops funding towards a weekend of filmmaking workshops for a group of 18-30-year-old participants from Newham Foyle Foundation". funding towards the employmenl of a Marketing and Communication Officer. John Lyon's Charity- Artists in residence.. funding received for arlists residencies in London schools. John Lyon's Charity - Spoken Word Power: funding received for the London componeiit of the Spoken Word Power national programme. National Lottery Heritage Fund: funding lowards costs of Celebratir)g Easlside's Heritage nurluring youth crealivity project. 30 years of University College London Making the Classroom Bigger: Funding lowards a teacher Iraining programme for schools in the 4 Olympic boroughs {Hackney, Tower Hamleis. Wallham Foresl, Newhaml along side East Bank partners BBC, UCL.UAL's University College of Fashion, V&A and Sadler's Wells. Paul Hamlyn Fund (PHF)- a partner application in which Eastside is the lead crealive partner with Cleveland Road Primary School to deliver a Teacher Development programme (total bLfrdgel- £165.000. Easlside lo be awarded £82.000) to support the proposal Who Are We? 29
EASTSIDE EDUCATIONAL TRUST (a company limited by guarantee) NOTES TO THE ACCOUNTS (Contld) FOR THE YEAR ENDED 31ST AUGUST 2024 17. MOVEMENT IN FUNDS {Contld) Description, nature and purpose of unrestricted funds: General funds.. General fund represenls funds available to spend at the discretion of the Iruslees after allowing for all the designated funds. Designated Funds The Lund FLind: The Lund Fund is a designaled reseNe Ihal can be drawn on by executive slafl or by the programming staff, via a written application lo the Iruslees, lo seed or match fund a project application or to fully fund a new programme of outreach for children and young people aged 5-25 across the country. 11 is named after David Lund. an English teacher wilh'a passion lor the arts, who left a sum in his will lo be assigned lo organisalions that work in this area, and Easlside was selected by Ihe estale to receive £10,000. This initial bequest enabled Easlside to effectively lundraise for and deliver I know I wish I will, a national spoken word poetry programme 12019-20). This fund is a principal focus of key individual giving and corporate fundraising campaigns Ihal are nol lied lo a specific project. Bulldlng maintenance fund: Represents monies designaled by the Irustees towards unforeseen expenditure required on the building lo ensur6 that the operation can continue from the premises. Easlside undertook an exlensive building refurbishmenl programme during the year to modernise and maintain the property to ensure lil for purpose for the future plans of EastSe. The capital equipment fund: Represents monies designated by the trustees towards unforeseen 8xpendilure required to maintain the operation of the business in the evenl of the existing equlpmenl becoming obsolete. With the establishment of the trading arm that will be taking responsibility for the purchase and maintenance of equipment and IT for the organisation and the building. The staff contingency fund: Represenls monies designated by the trustees to cover any exceptional costs or unforeseen staffing cost Ihal has not been considered in the normal course of busiiiess for the Gharily, 18. ANALYSIS OF FUND BALANCES BETWEEN NET ASSETS General Designated Funds Funds Restricted Funds Total 2024 Tangible fixed assels Investment Nel current assets Long term liabilities 785,889 100 31.814 {391,947) 785,889 100 89,282 (391,947) 18,260 39,208 425.856 18,260 39,208 483,324 30
EASTSIDE EDUCATIONAL TRUST (a company limited by guarantee) NOTES TO THE ACCOUNTS {Contld) FOR THE YEAR ENDED 31ST AUGUST 2024 18. ANALYSIS OF FUND BALANCES BETWEEN NET ASSETS {Contld} Analysis of fund balances between net assets- previous yfiar General Funds Designated Fui)ds Restricted Funds Total 2023 Tangible fixed assets Investment 796,941 100 796,941 100 95,247 (403,045) Nel current assets Long term liabilities 31,543 (403.045) 21,698 42.006 425.539 21,698 42,006 489,243 19. RELATED PARTY TRANSACTIONS During the year, the charity received £51,000 {2023- £51,000) from Easlside Resource Management Ltd, a wholly owned subsidiary, for renl. It also received a donalion of £6,000 (2023 £0). The Charily made payments to the trading arm Eastside Resource Maiiagemenl of £17,280 for seyvice charges (2023 £17,261). At the balance sheel dale, the charity is owed £1.140 (2023 - £0) by the trading subsidiary. Laura Mariah Herman (trustee and employee at Adobe) made tolal donations of £3,081 {2023 - £2,020) during the year, consisting of a personal donation of £l.000 (2023 £0) and additional donations lolalling £2,081 {2023 £2,020) were received via Adobe's giving portal {8enevity) lo retlect Laura's lime on the board plus additional donations lo offer general support to Eastside. Ankil Anand is a trustee and employee at Amazon. Amazon made total donations of £7,000 {2023 £2,000) during the year lo reflect Ankil's posilbon on the board plus additional donations lo offer general support lo Eastside. 20. PENSION FUND The Charity conlribules lo a Royal London Pension Scheme and details of payments can be found in note 9 above. 21. SHARE CAPITAL The charity is constituled as a company limited by guaranlee and does not have a share capilal divided by shares. 31