SafetyCurtain formerly International Performers’ Aid Trust; renamed November 2019
Report and financial statements
31 March 2021
Report and financial statements
SafetyCurtain
Year ended 31 March 2021
Contents Page
| Reference and administrative details of the charity, its trustees and advisors | 2 |
|---|---|
| Chair’s Statement | 3 |
| Annual report of the Trustees | 4 |
| Report of the Independent Examiner | 7 |
| Statement of financial activities | 8 |
| Balance sheet | 9 |
| Notes to the financial statements | 10 |
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SafetyCurtain
Reference and administrative information of the charity, its Trustees and advisors
Year ended 31 March 2021
Trustees Jo Cameron Brown (Chair) Souad Faress Charulata Gulati Janet Henfrey Dawn Hope (elected 24.07.20) Caron-Jane Lyon Frances McCarthy Matthew Robinson Mary Roscoe Ian Scott Peter Searles Rosamund Shelley Stephen Skirten Timothy Wapshott (Vice Chair) Equity Representative Kelly Burke to 24.07.20 / Dawn Hope from 24.07.20 Investment managers St James’s Place CCLA Investment Management Limited PO Box 9034 85 Queen Victoria Street Chelmsford London Essex EC4V 4ET CM99 2XA Bankers Unity Trust Bank Nine Brindley Place Birmingham B1 2HB Administration address Guild House Upper St Martin’s Lane London WC2H 9EG Independent Examiner Paul Daly FCIS 42 South Drive Brentwood Essex CM14 5DL Registered charity number 1078612
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SafetyCurtain
Chair’s Statement For the year ended 31 March 2021
Annual Report to March 2021
I would like to start by quoting Alan Rickman, our former President. He frequently said: 'It is a basic human need to tell, and be told, stories.’ And indeed, we all need to be able to participate in these imaginary narratives: they help us interpret our world, explore our collective experience, attempt to make sense of it all, and to simply escape, and maybe even laugh at it!
This has never been more true than during these last difficult times. After the trials and tribulations that this last year has brought globally, it became increasingly important that we continue our pledge to offer aid and support to our beneficiaries, so that whenever our storytellers, wherever they may be in our dangerous world, are unable to tell their story, for whatever reason, SafetyCurtain can help.
In this last year, amongst other grants made, we have assisted a Zimbabwean comedienne, a Palestinian theatre company run jointly by Israelis and Palestinians, a Nigerian theatre company, a Ukrainian performance artist, a Kenyan Women's Human Rights theatre company, and musicians struggling against a brutal regime in Myanmar. There are also more performance practitioners we have helped who, for reasons of confidentiality and even their own safety, I cannot discuss here.
We also continue to support a wonderful puppeteer, courageously performing to street children in the bombed-out ruins of once-thriving communities in Syria, as well as its burgeoning refugee camps. When we first asked him how we could help, he replied: “Give me bread and theatre, and I can bring civilisation.” It is a powerful description of the true power of storytelling in the face of such adversity.
I am also impressed by the way many of our beneficiaries have embraced new technologies to combat the necessary restrictions that the pandemic has placed on them. This has enabled them to carry on their creative endeavours in the face of appalling odds. It also sometimes gives us the chance to share their work, which is very encouraging.
Fundraising this past 18 months has been very challenging, as many traditional avenues have not been possible because of Covid distancing restrictions. We have managed to raise some funds, for example through eBay sales of items donated to the charity. We have also signed up for the Amazon Smile campaign. We continue to support as many applicants as possible, and our resolve is to initiate ambitious fundraising schemes, as soon as Covid restrictions allow us.
Jo Cameron Brown, Chair - SafetyCurtain
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SafetyCurtain
Report of the Trustees for the year ended 31 March 2021
The Trustees have pleasure in presenting their report together with the financial statements for the year ended 31 March 2021, which have been prepared in accordance with the requirements of the Charities Act 2011 and the Statement of Recommended Practice “Accounting and Reporting by Charities” (SORP 2005).
Reference and administrative details of the charity, its trustees and advisors
The charity number, present Trustees and advisors of SafetyCurtain (“the Trust”) are set out on page 2 of this report.
Structure, governance and management
The Trust was created by deed dated 20 September 1999 for general charitable purposes but with particular regard for the relief of poverty amongst people involved in the performing arts in distress in all parts of the world.
The Trustees have power to pay or apply all or part of the income and capital of the funds to any one or more of the charitable objects in such manner as they see fit.
The Trustees’ current policy is to identify groups and performers they wish to support and consider applications made by those groups and performers based on fact finding and information provided. The Trustees meet quarterly to consider applications for grants and use their contacts both in the UK and overseas to ensure they are as fully informed about potential needs as possible.
Appointment of Trustees
The statutory power of appointment is exercisable by the Trustees at their discretion, subject to the nomination of one of their number by the Council of Equity, so that the total number of Trustees shall not exceed fifteen.
Risk management statement
The Trustees assess annually the risks facing the Trust and review the effectiveness of the controls to monitor and mitigate them. The Trustees are aware of the risks associated with making grants to overseas beneficiaries and take steps to monitor their bona fides.
Objectives and activities
The Trustees’ primary aim is the relief of poverty amongst people involved in the performing arts in distress in all parts of the world.
Public benefit
The Trustees have had regard to the Charity Commission guidance on public benefit. The public benefit of the Trust’s grant making is clearly identifiable from the donations made to the organisations and individuals set out on page 12 (Note 4) of the financial statements. Applications are only accepted when demonstrably consistent with the charitable objectives of the Trust.
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Report of the Trustees (continued) For the year ended 31 March 2021
Achievements and Performance
During the year the Trust has been able to support a broad range of individuals and organisations in accordance with its recent policy, choosing to award a level of donations that will ensure the Trust remains solvent in future years. The Trustees have reviewed the budget and cash flows for the coming year and have determined that there are no material uncertainties that may cast significant doubt on the Trust's ability to continue as a going concern.
Financial review
During the year ended 31 March 2021 the Trustees received income of £29,529 (2020: £32,506) from generous donations and successful fundraising activities. The Trustees provided funding for charitable purposes totalling £21,168 (2020: £25,841).
The Trust balances remain largely unchanged (at £147,611). It is anticipated that the Trustees will approve a level of distributions for charitable purposes during the course of the forthcoming financial year that shall recognise this level of balances and utilise reserves where appropriate.
Reserves policy
The Trustees review regularly the level of reserves relative to the requests for funding received by the Trust and income flows from donations and fundraising. Trustees also consider economic factors and how these may influence the future demand for funding, the level of donations and fundraising opportunities.
Risk Management
The Trustees have identified that the Trust is exposed to incurring losses in the investment portfolio and have limited the Trust’s exposure to such investments (currently 7.44% of total current assets). Performance targets are set by the Trustees in relation to the investment portfolio, and the investment performance is kept under regular review by the Trustees.
Plans for Future
The Trustees intend to continue providing grants in a similar manner to that followed in recent years, with the emphasis on culture and arts but retaining complete flexibility as to the timing and scale of donations made.
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Report of the Trustees (continued) For the year ended 31 March 2021
Statement of Trustees’ responsibilities
The Trustees are responsible for preparing the Annual Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales 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 Settlement and of the incoming resources and application of resources of the Settlement for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgments and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on a going concern basis unless it is inappropriate to presume that the Trust 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 Settlement and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008, and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the Settlement and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Trustees and signed on their behalf:
Jo Cameron Brown Chair
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SafetyCurtain
Report of the Independent Examiner for the year to 31 March 2021
I report to the Trustees on my examination of the accounts of SafetyCurtain (‘the Trust’) for the year ended 31 March 2021.
Responsibilities and basis of report
As the charity Trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). You consider that an audit is not required for this year under section 144(2) of the Act and that an independent examination is needed.
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1) accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2) the accounts do not accord with those records.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Paul Daly FCIS
42 South Drive Brentwood Essex CM14 5DL
Signed:
Date: 7th October, 2021
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SafetyCurtain
Statement of financial activities Year ended 31 March 2021
| Income: Notes Donations 2 Investment Income: ● Dividends and interest received from UK investments ● Bank Interest Total Income Expenditure: Cost of generating funds:Fundraising costs Support/Administrative costs 3 Charitable Activities 4 Total Expenditure Net incoming(outgoing) resources before transfers Transfers: Transfers between Funds Net incoming(outgoing) resources before other recognised gains and (losses) Other recognised gains and (losses) Gains (losses) on Investment Assets Net Movement in Funds Fund Balances Brought Forward Fund Balances Carried Forward |
Unrestricted Income Expendable endowment 2021 Total 2020 Total £ £ £ £ 29,529 - 29,529 32,506 - 25 25 105 85 - 85 436 29,614 25 29,639 33,047 |
|---|---|
| 452 6,104 - - 452 6,104 1,135 5,322 21,168 - 21,168 25,841 |
|
| 27,724 - 27,724 32,298 |
|
| 1,890 25 1,915 749 |
|
| 25 (25) - - 1,915 - 1,915 749 |
|
| - 2,096 2,096 (1,048) |
|
| 1,915 2,096 4,011 (299) 135,468 8,132 143,600 143,899 |
|
| 137,383 10,228 147,611 143,600 |
The notes on pages 10 to 14 form part of these financial statements
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SafetyCurtain
Balance sheet As at 31 March 2021
| Balance sheet As at 31 March 2021 |
|
|---|---|
| ____________ Notes Fixed Assets Investment Assets 6 Current Assets Debtors 7 Cash on Deposit Bank Current Account PayPal Total Current Assets Current Liabilities Creditors 8 Net Current Assets Net Assets Funds: Unrestricted Funds Expendable Endowment Unrestricted Income |
_________ 2021 2020 £ £ 10,228 8,132 |
| 273 130 71,566 71,481 60,507 64,659 5,037 3,898 137,383 140,168 |
|
| - (4,700) |
|
| 137,383 135,468 147,611 143,600 |
|
| 10,228 8,132 137,383 135,468 |
|
| 147,611 143,600 |
These financial statements were approved by the Trustees and authorised for issue on: 14[th] October 2021 and signed on their behalf:
Jo Cameron Brown, Chair
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SafetyCurtain
Notes to the financial statements Year ended 31 March 2021
1.0 Accounting policies
1.1 Basis of accounting and assessment of going concern
The financial statements have been prepared under the historical cost convention, as modified by the revaluation of fixed asset investments, and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
The Trust constitutes a public benefit entity as defined by FRS 102.
The Trustees consider that there are no material uncertainties over the Trust’s ability to continue as a going concern.
The Trust has taken advantage of the size criteria exemption in Financial Reporting Standard No.1 from the requirement to produce a cashflow statement.
1.2 Funds
The Trust comprises two funds being:
Expendable endowment A capital fund representing investments held in income-producing units as set out in note 6.
Unrestricted income account This fund represents the balance of unexpended income and is available for charitable objects, subject to the working requirements of the charity.
1.3 Investments
Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using their closing quoted market price. Realised and unrealised gains and losses are shown in the statement of financial activities together as net gains on revaluation and disposals of investment assets
The Trust does not acquire put options, derivatives or other complex financial instruments.
Realised and Unrealised profits and losses are taken through the statement of financial activities.
1.4 Income
All income is recognised in the Statement of Financial Activities when the conditions for receipt have been met and there is reasonable assurance of receipt.
Interest receivable on deposit and securities is accounted for as it accrues. Dividend income receivable on securities is accounted for on a cash basis.
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Notes to the financial statements (continued) Year ended 31 March 2021
____________
Accounting policies (continued)
1.5 Expenditure
Grants are accounted for when they are committed and have been communicated to the recipient so as to create a constructive obligation.
Governance costs comprise all costs involving the public accountability of the Trust and its compliance with regulation and good practice.
1.6 Taxation
No provision for taxation is made in the accounts as the Trust is a charity, as defined by Section 519 of the Income Tax Act 2007. Where income tax has been deducted or tax credits relating to interest and investment income is recoverable credit is taken for such sums in the accounting period for which it is recoverable.
1.7 Debtors
Debtors are recognised initially at fair value. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses.
1.8 Creditors
Creditors are recognised initially at fair value. Subsequent to initial recognition they are measured at amortised cost using the effective interest method.
1.9 Cash and cash equivalents
Cash and cash equivalents consist of cash on hand and balances with banks, and investments in money market instruments which are readily convertible, being those with original maturities of three months or less.
| 2. Donations Combined Theatrical Charities’ Appeals Council Paul Cottingham Trust JustGiving / PayPal / Amazon Smile Fundraising events and Sundry Income Sundry Income |
2021 2020 £ £ 20,000 20,000 5,000 - 3,457 2,489 750 322 9,750 267 |
|---|---|
| 29,529 32,506 |
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Notes to the financial statements (continued) Year ended 31 March 2021
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| 3. Support/Administrative Costs Secretarial Support Bank Charges JustGiving Charges Travel and Miscellaneous Expenses 4. Charitable Activities Grants for Charitable Purpose 5Cs Theatre, Kenya Benevolent Assistance for Individual in Distress (Kenya) Fragments Theatre, Jenin, Palestinian Authority Jos Theatre, Nigeria Benevolent Assistance for Displaced Performers Magamba Network, (Umkhathi Theatre) Zimbabwe Anonymous Theatre Group |
Unrestricted Income Expendable Endowment Total 2021 Total 2020 £ £ £ £ 5,500 - 5,500 4,550 384 216 - - 384 216 294 216 4 - 4 262 |
|---|---|
| 6,104 - 6,104 5,322 |
|
| Unrestricted Income Expendable Endowment Total 2021 Total 2020 £ £ £ £ 21,168 - 21,168 25,841 2,500 - 2,500 5,600 1,000 - 1,000 - 1,600 - 1,600 3,200 1,348 - 1,348 2,471 9,170 - 9,170 13,670 2,850 - 2,850 900 2,700 - 2,700 - |
|
| 21,168 21,168 25,841 |
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Notes to the financial statements (continued) Year ended 31 March 2021
____________
5. Trustees’ Remuneration and Expenses
During the year the Trustees received no remuneration and were not reimbursed expenses (2019: £0).
| 6. Fixed Asset Investments Market Value at 1st April Additions Disposals Net unrealised gains/(losses) Market Value as at 31st March St. James’s Place Wealth Greater European Progressive Fund (Income) 7. Debtors Gift Aid Recoverable Donations Receivable |
2021 2020 £ £ 8,132 9,180 - - - - 2,096 (1,048) |
|---|---|
| 10,228 8,132 |
|
| 10,228 8,132 |
|
| 2021 2020 £ £ 273 130 - - |
|
| 273 130 |
| 8. Creditors Grants Payable Accrued Expenses |
2021 2020 £ £ - 4,700 - - |
|---|---|
| - 4,700 |
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SafetyCurtain
Notes to the financial statements Year ended 31 March 2021
____________
9. Staff costs
The Trust does not employ staff on a PAYE basis. Secretarial support costs, which includes the costs of part time support for bookkeeping, managing the Trust’s correspondence and providing support at meetings and to Trustees, are recorded at Note 3. Other administrative functions are undertaken by volunteers.
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