EARL'S COURT COMMUNITY TRUST
TRUSTEES' REPORT AND UNAUDITED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2022
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EARL'S COURT COMMUNITY TRUST
TRUSTEES' REPORT
The trustees present their report and unaudited accounts for the period ended 31 December 2022. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the trust's memorandum and articles of association, the Companies Act 2006 and the Statement of Recommended Practice (SORPs). ln the event of the company being wound up members are required to contribute an amount not exceeding £1.
Administrative Information
| Administrative Information | |
|---|---|
| Trustees and directors as of 31 December 2022 |
Trustee since… |
| Keith Clancy | 2007 |
| Toby Brown (Chair) | 2012 |
| Baljit Badisha | 2012 |
| Freddy Gibbs | 2013 |
| Di Parnell | 2014 |
| Simon Brooks | 2012 |
| Elsa Maria Beirao Simoes | 2019 |
| Nikita Franks WILLIAMS | 2020 |
| Charity number | 1126021 |
|---|---|
| Company number | 6450596 |
| Principal address | 1a Nevern Place, London SW5 9NR |
| Registered office | 1a Nevern Place, London SW5 9NR |
| Bankers | Metro Bank, 1 Southampton Row London WC1B 5HA |
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EARL'S COURT COMMUNITY TRUST
TRUSTEES' REPORT
The Earl’s Court Community Trust’s (ECCT) aim is to support and develop accessible arts, culture and community initiatives, involving and benefiting a wide range of social groups in our area.
We are a recognised and respected organisation with a track record of success, and, as an umbrella entity, we unite and activate housing authorities, local & corporate businesses, residents and community groups, using Arts & Culture as a vehicle for sustainable community evolution.
Our Objectives
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Promote, maintain, stimulate, educate and promote enjoyment of the arts for the benefit of the inhabitants of Earl’s Court (EC) and the surrounding area;
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Improve the provision of facilities for recreation and other leisure time activities for individuals that have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances;
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Through Arts and Culture initiatives, support the public at large in the interest of social welfare and with the object of improving the condition of life of the aforementioned inhabitants;
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Encourage young people, especially, but not exclusively, through leisure time activities, so as to develop their capabilities that they may grow to full maturity as individuals and members of society.
ECCT Activities
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Host a range of community initiatives at our local community centre (Art’s Hub);
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Offer PA/Cinematic equipment for local events;
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Provide event and production support;
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Provide funding and finance administration, including banking and financial advice to project groups;
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Offer advisory, training, marketing and logistical support to persons and groups that wish to run events, classes or create local initiatives.
The policies adopted in the furtherance of these objectives are to create, manage and deliver events and projects throughout the year which promote ECCT’s objects of encompassing marginalised people, involving disaffected young people, promoting local talent and giving pleasure and pride in quality productions. Equality of access is an essential part of our thinking.
These continue to be the trust's policies which the trustees intend to expand and build upon in the coming year.
Principal funding sources
The trust's income comes from donations, grants, sponsorship and revenues from activities associated with projects and events mounted in the name of the Earl's Court Community Trust. Money so raised is in the form of unrestricted funds unless otherwise stated. Fund raising activity has been successful to cover event and specific project costs over the past year. In 2022 the largest financial supporters of ECCT were the Earl’s Court Partnership (£59,650) and the Royal Borough of Kensington & Chelsea (£2000).
Financial review
The accounts show a current balance of funds at 31 December 2022 of £28,412. This includes
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£18,257 of funds restricted for the EC Drama Workshop and the EC Film Festival. The remainder are unrestricted reserves which at £10,155 are considered to be sufficient by the trustees.
Risk management
The trustees have reviewed the major risks to which the charity is exposed. Where necessary, processes and activities have been established to mitigate those risks.
Achievements in 2022
Despite the continuing challenges presented by the Coronavirus pandemic, ECCT supported the organisation and delivery of the following projects and events in Earl’s Court during 2022:
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The Court, a newspaper and online journal covering arts and events in Earl’s Court;
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Hosting a variety of charitable groups and organisations at our community space the Arts Hub, 1a Nevern Place;
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Earl’s Court Drama Workshop;
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Musical events in garden squares;
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Earls Courtiers productions – including “Music Man” and a comedy night at St Cuthberts.
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Open air cinema in Nevern Square
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Earl’s Court Film Festival – online and in person screenings
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Christmas Lights in Earl’s Court Road
In addition to its core activities, the Trust provides infrastructure support to the following independent projects in Earl’s Court:
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The Court
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Earl’s Court Theatre Project
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Drama Workshop Project
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Earl’s Court Film Festival
Related parties
There are no other related parties to the charity apart from those listed above and organisations who use the community space at 1a Nevern Place.
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Trustees' responsibilities
Company law requires the trustees to prepare financial statements for the financial year which give a true and fair view of the state of the affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing those financial statements, the trustees should follow best practice and:
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Select suitable accounting policies and then apply them consistently;
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Make judgements and estimates that are reasonable and prudent; and
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Prepare the financial statements on a going concern basis unless it is not appropriate to assume that the company will continue on that basis,
The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees, who are also the directors of Earl’s Court Community Trust for the purposes of company law, are responsible for the preparation of the accounts. The trustees consider that a full audit is not required for this year under section 43 of the Charities Act 1993, the 1993 Act, but that an external scrutiny is required.
Public Benefit Statement
The trustees confirm that they have complied with the duty of Part 4 of the Charities Act 2006 to have due regard to the Charity Commission's general guidance on public benefit, "Charities and public benefit.”
This report has been prepared in accordance with the Statement of Recommended Practice Accounting and Reporting by Charities (issued in March 2005) and in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
Approved by the trustees on and signed on their behalf by:
Anthony Marraccino, Treasurer (since 9 June 2023) .................................................
Date :…4 July 2023……………………........................
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EARL'S COURT COMMUNITY TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
For the year ended 31 December 2022
| All figures are £ | Note | 2022 | 2021 |
|---|---|---|---|
| Incoming resources | 1 | ||
| Grants/donations received for charitable activities - Film Festival - Drama Workshop - Theatrical and musical Events - Christmas Lights - The Court Newspaper |
2 | 23,504 4,281 11,224 14,166 15,760 |
24,222 8,118 5,186 14,166 7,500 |
| Event and other income from charitable activities | 2 | 34,963 | 40,961 |
| Total Income | 103,898 | 100,153 | |
| Resources expended | 1 | ||
| Charitable activities | 3,4,5 | 116,152 | 101,234 |
| Accountancy and governance costs | 4 | 13 | 13 |
| Total Expenditure | 116,165 | 101,247 | |
| Net Income / (deficit) | (12,267) | (1,094) | |
| Reconciliation of funds | |||
| Total funds brought forward | 40,679 | 41,773 | |
| Total funds carried forward | 7 | 28,412 | 40,679 |
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. All recognised gains and losses are contained in the above statement of financial activities.
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EARL'S COURT COMMUNITY TRUST
BALANCE SHEET
As of 31 December 2022
As of 31 December 2022 |
|||
|---|---|---|---|
| All figures are £ | Note | 2022 | 2021 |
| Current Assets | |||
| Cash at bank and in hand | 28,412 | 40,679 | |
| Current Liabilities | |||
| Creditors: amounts falling due within 1 year | 6 | 0 | 0 |
| Net Assets | 28,412 | 40,679 | |
| Funds | |||
| Unrestricted funds | 10,155 | 15,951 | |
| Restricted funds | 7 | 18,257 | 24,728 |
| Total Funds | 28,412 | 40,679 | |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2022. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these accounts.
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Act and for preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006
The accounts were approved by Mr Toby Brown (Chair), and Mr Anthony Marraccino (Treasurer appointed on 9 June 2023).
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EARL'S COURT COMMUNITY TRUST
Notes to the accounts for the year ended 31 December 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention. The accounts have been prepared in accordance with applicable accounting standards, the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005 and the Companies Act 2006 and the Financial Reporting for Smaller Entities (effective April 2008).
lncoming resources
All incoming resources are included in the Statement of Financial Activities when the charity is entitled to the income and the income can be quantified with reasonable accuracy. lncome from ticket sales and sponsorship is included in the accounts when received.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be recovered and is reported as part of the expenditure to which it relates. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities.
Accumulated unrestricted funds
Unrestricted funds are available at the discretion of the trustees in the furtherance of the general objectives of the charity. Restricted funds are subject to specific conditions by donors as to how they may be used.
2 Incoming Resources
| 2 Incoming Resources | ||
|---|---|---|
| £ | 2022 | 2021 |
| Grants received for charitable activities | 61,650 | 59,193 |
| Event and other income from charitable activities | 42,248 | 40,960 |
| Total Income | 103,898 | 100,153 |
3 Resources Expended
| 3 Resources Expended | ||
|---|---|---|
| £ see notes 4,5 | 2022 | 2021 |
| Charitable activity costs | ||
Film Festival |
32,339 | 26,477 |
| EC Drama Workshop | 1,917 | 14,874 |
| EC Theatre and Musical Events | 48.090 | 33,023 |
| Christmas Lights | 6,758 | 10,330 |
The Court Newspaper |
15,760 | 0 |
| Other costs | ||
| Arts Hub (1a Nevern Place) running costs | 7.901 | 5,749 |
ECCT donations made to local charities & organisations |
3,400 | 10,794* |
Total expenditure |
116,165 | 101,247 |
| Note *includes £2100 loan to local resident |
4 Trustees
No trustees received any remuneration during the year. There were no trustee expenses paid for the year to 31 December 2022.
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EARL'S COURT COMMUNITY TRUST
Notes to the accounts for the year ended 31 December 2022 ….cont’d
5 Employees and contractors
There were no paid staff/employees for the year to 31 December 2022 (2021: 0). There was one contractor for the year to 31 December 2022 (2021: 1) providing a weekly cleaning service for the Arts Hub.
6 Creditors
There were no amounts falling due within 1 year.
7 Restricted Funds
£18,257 being divided as follows: £2,646 restricted for the EC Drama Workshop, £15,611 restricted for the Earl’s Court Film Festival.
ENDS.
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Independent examiner’s report to the trustees of Earls Court Community Trust.
I report to the trustees on my examination of the accounts of Earls Court Community Trust (the Charity) for the year ended 31 December 2022.
Responsibilities and basis of report
As the charity trustees of the Charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company’s accounts carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
I have completed by 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:
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1) accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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2) the accounts do not accord with those records; or
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3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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4) the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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.
Signed:
Robert Waddelow CA (ICAS – Institute of chartered accountants Scotland) 47 Broom Park Teddington, Middx TW11 9RS
Date : 27.06.2023
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