## **KREATIVE CULTURE KLUB (KCK)** ## **REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] MARCH 2022** **Charity Number: 1092665** **ADDRESS** _**128 Antlers Hill, LONDON E4 7RY**_ , 1 of 15 ## **KREATIVE CULTURE KLUB (KCK)** |**Contents**|**Pages**| |---|---| |Legal and administrative information|3| |Chair’s Report|4| |Report of the trustees|5-8| |Independent Examiner’s Report|9| |Profit and Loss Accounts|10| |Balance Sheet|11| |Notes to the accounts|12- 15| 2 of 15 ## _**KREATIVE CULTURE KLUB (KCK)**_ ## **LEGAL AND ADMINISTRATIVE INFORMATION** ## **Reference and Administrative Details** **Trustees** Chairperson: Sandra Waldron-Rigobert Secretary: Diane Thompson Treasurer: Sonia Mckenzie Committee Member: Miriana Shaw Committee Member: Rochelle Pyne (Joined 28/01//2022) Committee Member: Tahirou Mossi Ali (Joined:28/01//2022) Volunteer Coordinator: Yvonne Bailey **Address** : 128 Antlers Hill, LONDON E4 7RY, Tel: 07538356683 Email: kck_enq@hotmail.com: info@kckclub.com ## _**Charity Number: 1092665**_ **Banker:** Barclays Bank 278 Hoe St, London E17 9QE **Independent Examiner** Sidney H Milambo, BAcc, ACMA 25 Watershipdown House Cambridge Park Road London E11 2PY 3 of 15 ## _**KREATIVE CULTURE KLUB (KCK)**_ ## **Chairs Report** Kreative Culture Klub (KCK) has been operational since 1998. Our financial year 2020/2021 has been challenging due to the COVID19 pandemic. We have had to cancel holding classes in a venue as the government's guidelines were that there had to be social distancing and self-isolation. This meant that we had a reduction in our revenue. We could not recruit to the vacant Street Dance Tutor role as it was unclear when the restrictions would be lifted. Ballet / Tap classes were held online until we could meet in person again. The Ballet / Tap classes were able to have resume classes in the latter part of 2020 whilst still adhering to the government's guidelines about social distancing. We changed the venue and have worked on increasing our marketing of KCK. We have been fortunate to obtain funding to help run classes. Unfortunately, KCK could not hold YGAB (Young Gifted and Black) annual award ceremony to celebrate students academic achievement due to the pandemic. We hope to resume holding the ceremony as soon as schools & colleges return to organising exams for GCSE & a level exams. I would like to thank the Project Co-ordinator, Accountant, Ballet/ Tap Tutor, the the management committee and volunteers for all their hard work and support in running KCK. I would also like to thank the parents and students for their continued support. In the future, KCK would like to recruit a Street Dance Tutor, increase the numbers of management committee members, maintain our existing classes and expand our service provision to cater for as many disadvantaged groups as possible. Sandra Waldron-Rigobert Chairperson 4 of 15 ## _**KREATIVE CULTURE KLUB (KCK)**_ ## _**Trustees’ Report and financial statements for the year ended 31st March 2022**_ ## _**Trustees Report**_ ## _**1) Introduction**_ The trustees present the financial statements of the club for the year ending 31st March 2022.The financial statements have been prepared in accordance with the accounting policies set out on page 10 and comply with applicable Laws, the organisation (KCK)’s governing documents and the Charities Act 2011, Statement of Recommended Practice (SORP 2005) for accounting and Reporting by charities. ## _**2)Aims & Objectives**_ The Association's objects are: (a) To advance the education primarily of young people, from the African/African Caribbean Communities in the London Borough of Waltham Forest and neighbouring boroughs through the provisions of facilities and training in all aspects of the arts, education, employability and sports with an aim to reduce poverty and deprivation/distress. (b) To promote good race relations through arts projects. ## _**3)Structure, Governance and Management**_ ## _**Governing Document**_ The charity is governed by its constitution adopted on 16th September 1998 and amended on 18th May 2002, 8th July 2007.and 7[th] October 2014 and acts entirely as a non-profit making organisation and has a charitable status, registered as a charity with the Charity Commission on June 2002 (charity number (1092665) ## _**Governance**_ The trustee’s and Executive Committee who have served during the year are set out on page 3. The Executive Committee shall consist of not less than 4 members nor more than 8 members being appointed by the members at the General Meeting for a period of one year after which they may put themselves forward for re-appointment. All the members of the Executive Committee shall retire from office together at the end of the annual general meeting next after the date on which they came into office but they may be re-elected or re-appointed. Trustees may be removed from office by a resolution passed at a general meeting. ## _**Management**_ The policy and general management of the affairs of the charity are directed by The Executive Committee (trustees). They meet at least not less than four times a year. The members of the Executive Committee elected, may be removed by the members at the general meeting. Day to day running of the KCK is delegated to the trustees and Volunteer Coordinator who 5 of 15 all attend Executive Committee meetings. ## _**Membership**_ (a) Membership of the Association shall be open to any young person between the age of four and 21 years. (b) Every member shall have one vote, however, members under the age of 18 years will require parents/carers to vote on their behalf (c) The Executive Committee may by unanimous vote and for good reason terminate the membership of any individual: Provided that the individual concerned shall have the right to be heard by the Executive Committee. accompanied by a friend, before a final decision is made ## _**4) Activities carried out during the Year to achieve the charity’s objectives**_ ## _**Performance during the year**_ The award ceremony is a showcase of what we do on a weekly basis, as members in our above activities perform every year at this event that takes place in October. Participating also were two singing sisters from our street dance classes with one in the semi final of Britain Got Talent, they affiliate themselves to KCK despite the fact that singing is no longer on the agenda. ## **5) Future Plans** To become a Limited Company by Guarantee, a Social Enterprise or a Charitable Incorporated Organisation to enable the charity to progress as an organisation. The trustees want to see an increase in the number of parents joining the management and think that, it would be good to have students on board as in the past, where their input can be valuable giving them a sense of empowerment by having ownership in the project although they cannot vote. The charity still want to get street dance back on the agenda as well as YGAB because not only was it a crowd puller, it also pulled new members to the weekly sessions and very importantly created community cohesion and partnerships with the local schools and colleges. However, due to the unavailability of the Assembly Hall it's home since 2005, the ceremony was held in Haringey with participation from one school and interest from others whose staff attended the event giving excellent feedback showing how the event could expand beyond Waltham Forest. ## _**6) Funding**_ For the year 2022, the charity has generated moderate income from fees and charges compared to last year due loosening of social distancing rules and lockdown-easing. It has a number of participants who want to continue with the activities and has been successful in raising funds from: - Grants - Local Connection-National Lottery: £1,000 - London Community Foundation: £9,521 - Fees and charges: £16,669 6 of 15 Despite our success and our longevity, last year we were unable to further expand the range of our bread and butter activities. This is due to the difficulty we face in obtaining funding and therefore the trustees feel that a reasonable objective for us as we move forward is to maintain our activities at their present level until the economic climate improves . ## _**7) Impact of Cost of Living Crisis**_ This uncertainty will just continue to become worse because of the dual pressures of increased demand for the charities’ services and the inflation-fuelled high costs we are experience. We are having difficulties on rising costs and that we can’t pass on costs to beneficiaries like commercial organisations can and that we rely on increased donor funding and small fees and charges to cover expenses and do not have any reserves to dig into. ## _**8) Financial Review and Reserve Policy**_ The results of the charity for the year are shown in the annual financial statements set out on pages 10 to 15. The trustees consider the financial position of the charity to be satisfactory and in line with expectations despite the current financial situation and the rising cost of living The net assets at 31st March 2022 were £9,714 (2021: £10,474). The Club had income of £27,190: (2021: £14,656) and direct charitable and support expenditure of £17,476: (2021: £4,432. There was a surplus of £9,714; (2021: £10,424; Funds carried forward of £20,188 represent; £20,188 Unrestricted and £nil restricted. ## _**9)Going Concern**_ The report represents a comprehensive overview of all transactions undertaken by KCK during the twelve months ending 31st March 2022. The charity is able continue to operate as it keeps the charity’s operations and finances under regular review and taking any additional actions by robust, frequent monitoring and reviewing finances. It will continue to maintain the cashflow forecast and having an up-todate forward-looking view of funding applications, fees and charges and when money will be received and spent. Whilst it may be difficult to forecast and budget in the current climate it is this monitoring that will help the charity manage the situation. This will also helpful the charity to plan for when it might: - be able to move the charity to recovery and a return to a more normal operating environment and what will indicate that this is achievable - need to consider closing the charity and the trigger points that will indicate this. ## _**10) Funds and Reserves**_ As at 31 March 2022 closing reserves consisted of £20,188 funds. The Trustees have agreed the Reserves Policy as recommended by the Charity Commission i.e. Having 3 months revenue costs to accommodate emergency revenue and winding down costs. They feel that the reserves are in line with the recommended required levels and will continue engaging in fundraising activities and making grant funding applications to maintain the current reserve levels. 7 of 15 ## _**11) Investment Policy**_ There are no restrictions on the organisation’s power to invest. The investment strategy is set by the Management Committee and is reviewed regularly. ## _**12) Risk Management Policy**_ Kreative Culture Klub Trustees are aware of their obligations to make a statement in respect of the management of risk faced by the club. The trustees have carried out a risk management audit review and developed a structured approach to risk management. This promotes a greater recognition of risk management at all levels within Kreative Culture Klub. The committee believe that by monitoring reserve levels, ensuring controls exist over key financial systems and examining the operations and business risk faced by the charity, they will have established effective systems to mitigate those risks ## _**13) Appreciations**_ All trustees acknowledge the tremendous efforts made by the volunteers. They would like to record their appreciation of all those who give their time and energy so generously. We do rely on the spirit of cooperation, dedication and commitment to accomplish our objectives. ## _**TRUSTEE'S RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENT**_ 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 charity for the period. In preparing those financial statements, the trustees are required to: - Select suitable accounting policies and then apply them consistently; - Make judgements and estimates that are reasonable and prudent; - State whether applicable accounting standards and statement of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statement; and - Prepare the financial statements on a going concern basis. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity. This enable them to ensure that the financial statements comply with applicable law. They are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Signed and approved on behalf of the Trustees on 25[th] January 2023 **Diane Thompson** (Secretary) 8 of 15 ## _**INDEPENDENT EXAMINERS REPORT**_ ## _**Independent Examiner’s Report to the trustees of Kreative Culture Klub**_ **(KCK)** I report on the accounts of _**Kreative Culture Klub**_ for the year ended 31 March 2022 which are set out on pages 10 to 15. ## **Respective Responsibilities of Trustees and Independent Examiner** The trustees (who are also the Directors of the Company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. Having satisfied myself that the charity is not subject to an audit under company law and is eligible for independent examination, it is my responsibility to: - examine the accounts under section 145 of the 2011 Act; - follow the procedures laid down in the General Directions given by the Charity Commissioners under section 145(5)(b) of the 2011 Act; and - to state whether particular matters have come to my attention. ## **Basis of Independent Examiner’s Report** My examination was carried out in accordance with the General Directors given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below. ## **Independent Examiner's Statement** In connection with my examination, no matter has come to my attention: 1. which gives me reasonable cause to believe that in any material respect the requirements:- • to keep accounting records in accordance with section 386 of the Companies Act 2006; and • to prepare Financial Statements which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities. have not been met; or: 2. to which, in my opinion, attention should be drawn to enable a proper understanding of the Financial Statements to be reached. _**Sidney H Milambo ACMA BAcc** , 25 Watershipdown House, Cambridge Park Road, London E11 2PY_ Date: 25[th] January 2023 9 of 15 KREATIVE CULTURE KLUB {KCK STATEMENTS OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31st MARCH 2022 (Incorporating Income and Expenditure Accounts) INCOMING RESOURCES Unrestricted Funds Restricted Total Total Funds 2021/22 2020/21 Note Incoming Resources Fmm - Voluntary Income Activities For Generating Funds 10,521 10,521 10,500 Incoming Resources From.. Charitable Activities 16,669 16,669 4,156 Total Incomlng Resources 16,669 10,521 27,190 14,656 Resources Expended Charitable Payments Arts & Recreation Programmes Income Generation Governance Cost 5,353 1.302 350 10,521 15,874 1,302 350 4,082 250 Total Resources Expended 7,005 10,521 17,526 4,332 Surplus / (Deflclt) for the year 9,664 9, 664 10,324 Transfer Between Reserves Net Movement 9,664 9, 664 10,324 Funds Brought Forward 10,474 10,474 50 Funds Balan￿ Carrled Forward 20,138 20,138 10,374 Ioof 15 ## KREATIVE CULTURE KLUB (KCK) BALANCE SHEET AS AT 31st MARCH 2022 |Notes
_TANGIBLE FIXED ASSETS_
_CURRENT ASSETS_
Debtors & Prepayments
6
Bank & Cash at Hand
10
_Total Current Assets_
_Amounts Falling Due within one year_
Creditors & Accruals
7
_Net Current Assets_
_Net Assets_
_FUNDS_
Unrestricted Funds
Restricted Funds|2021/22
2020/21
£
£
-
-
-
-
20,488
10,624| |---|---| ||20,488
10,624| ||_(350)_
_(250)_
20,138
10,374| ||20,138
10,374| ||20,138
10,374
-
-| ||20,138
10,374| Signed on …25th January 2023………….by: ............................................................... .................................................... Diane Thompson Miriana Shaw Secretary Committee Member 11 of 15 KREATIVE CULTURE KLUB IKCK Notes to the Financial Statement for the year ended 3tst March 2022 Ac¢ountlng poll¢les l (al Basis of preparation The financial statements have been prepared under the historical cost conversion and in accordance with applicable Accounting and Financial Reporting standards and the charities SORP 2011 and Charity's Act 2006 (b) Fund-accounting Unrestricted funds are funds available for use or retention at the discretion of the Board of Trustees in accordance with the charity's objectives. Designated funds comprise funds which have been set aside by the Board of trustees for specific purposes. They are set aside to ensure that redundancies and closure costs can be met at any one time to allow coping Wlth unforseen circumstances Restricted funds are funds subject to specific restrictive conditions imposed by the donors or by the declared purposes I C) Incoming resources These are included in the Statement of Financial Activities ISOFAI when.. . the charity becomes entitled to the resources., the trustees are virtually certain they will receive the resources- . the monetary value can be measured with sufficient reliability. All income is accountable for on a receivable basis. Any general -purposes grants whose use is restricted by the grantor to some future accounting period are accounted for as deferred income until the restriction has been satisfied Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources. Contractual income and performance related grants- Included in SOFA only once the related goods or services have been delivered. {d} Resources expended All expenditure is accounted for on an accruals basis and where incurred directly to further the charity's charitable objectves is shown under the heading of direct charitable expenditure Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources. Volunteers- No amounts are included in the financial statements for services donated by volunteers Governance Costs include costs of the preparation and examination of statutory accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters. 12of 15 KREATIVE CULTURE KLUB IKCK Notes to the Financial Statement for the year ended 31st March 2022 (fj Tangible fixed assets- Tangible f ixed asssets are stated at cost less depreciation. Depreciation is provided on a straight line basis over the useful life of the asset Furniture & Fittings-capitalised if individual value is more than £500 25% Equipment Computers 250A. Full Depreciation is provided in the year of purchase Grant Equipments are capitalised and depreciated according to terms and conditions of the Erant.Where they are not specified, the Grant equipments are to be capitalised at 25% 2.(al AnalyBiS of Incoming resources Granty donations 2021122 Totsl 2020/21 Totsl Activty In￿rne Other Income Arts & Recreation Programmes Fundraising 10.521 16.619 50 27.190 14,656 10,521 16,619 50 27,190 14,656 Unrestrlcted Restslcte Totsl Totsl 2.{b) Grants & Donations Donations Grants The Global Fund Local Connections- Lottery Fund London Community Fundation Total Grants and Donatlons 2,000 6,000 2,500 1,000 9,521 10.521 1,000 9,521 10.521 10.500 Charitable Activity income Ballet Street Dance YGAB Other Income 16.669 16.669 4,106 50 4.156 16.669 16.669 Activities for Generating Income Fundraising Total Activities for Generating Income 3,000 3,000 17.656 16.669 10.521 27.190 3.lal Resources Expended as shown in the statements of Financial Activities 2021/22 2020/21 Direct Cost Support Cost Totsl Total Arts & Recreation Programmes 15,370 504 15,874 4,082 Total Governance Total Cost 15,370 504 1,602 2.609 15,874 1,602 17,476 4,082 250 4.332 15,370 13of15 KREA TIVE CUL TURE KLUB (KCK Notes to the Financial Statement for the year ended 31st March 2022 2021/22 2020/21 3.(b) Project Dlrect Costs Tutors Hall Hire Coordinator Fees Workshops Capacity Building Merchandise Volunteers 6,867 5,694 580 150 1,000 1.014 65 15,370 2,130 923 540 3,592 3.(c) Pmject Administrative Costs Telephones Insurance Rent 220 284 363 127 504 490 3.(d) Govemance Accounts/lndependent Examination Legal & Professional 300 1.302 1,602 17,476 250 250 4,332 Total Resources Expended Governance costs are cost of accounts scrutiny, professional advice. costs of legal advice on governance issues and trustees meetings and expenses. 4 Analysis of Movement in funds Asat 01/04/2020 Incoming Outgoings TRSF Asat 31/03/2021 Restricted Funds 10,521 10,521 Unrestricted Funds General YGAB 50 16,669 7,005 9, 714 50 27,190 17,526 9,714 5.Surplus/(deficlt) for the year Is after changing Accounts & Independent Examination 300 300 250 250 14of15 KREATIVE CULTURE KLUB IKCK Notes to the Flnanclal Ststement for the year ended 31st March 2022 2021/22 2020/21 6.Debtors & Prepayments 7.Crediiors Accruals- Accounts 300 250 300 250 8.Ind&p8ndent Examinér's remunèration Independent Examination 300 150 300 150 9Analysis of Net Assets General Restricted 2021/22 Total Currents Assets Less Current Liabilities 20,488 (300) 20,488 (300) Total Funds 20.188 20.188 10.cash Balances 2021/22 2020/21 Current account 20,488 10,624 Saving account Petty Cash 20,488 10,624 11.Employees Avarage Employees During the Year Full Time Equivalent 0.50 0.50 12.Contigencles and contractual commltments In the opinion of the trustees, at 31 March 2022, there were no contigency liabilities or contractual commitment other than rental payments. 15of15