EARL'S COURT COMMUNITY TRUST
TRUSTEES' REPORT AND UNAUDITED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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EARL'S COURT COMMUNITY TRUST
TRUSTEES' REPORT
The trustees present their report and unaudited accounts for the year ended 31 December 2023. 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 2023 |
Trustee Since: |
| Toby Brown (Chair) | 2012 |
| Keith Clancy | 2007 |
| Mariela Manso | 2023 |
| Inge Marks | 2023 |
| Anthony Marraccino | 2023 |
| Diane Parnell | 2014 |
| Charity number | 1126021 |
|---|---|
| Company number | 6450596 |
| Principal address | 247-249 Cromwell Road, London SW5 9GA |
| Registered office | 247-249 Cromwell Road, London SW5 9GA |
| 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, to develop their capabilities that they may grow to full maturity as individuals and members of society.
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.
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 2023
ECCT produced several projects and events in the Earl’s Court community during 2023, including:
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The renovation of the Bousfield Primary School Amphitheatre
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Earls Courtiers productions – including “West Side Story” at the Bousfield Amphitheatre and “Sweeney Todd” at Refettorio Felix
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Earl’s Court Film Festival
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Musical events and open-air cinemas in several garden squares
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Christmas lights and events in Earl’s Court
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Earl’s Court Drama Workshop
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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:
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Anthony Marraccino, Treasurer
Date: 15 April 2024
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EARL'S COURT COMMUNITY TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
For the year ended 31 December 2023
For the year ended 31 December 2023 |
|||
|---|---|---|---|
| All figures are £ | Note | 2023 | 2022 |
| Incoming resources | 1 | ||
| Grants/donations received for charitable activities - Film Festival - Amphitheatre Renovation Grant - Drama Workshop - Theatrical and Musical Events - Christmas Lights - The Court Newspaper |
2 | 10,525 27,917 2,950 14,268 10,000 - |
23,504 - 4,281 14,421 14,166 15,760 |
| Totalgrants/donations received for charitable activities | 65,660 | 72,132 | |
| Event and other income from charitable activities | 2 | 48,387 | 31,766 |
| Total Income | 114,047 | 103,898 | |
| Resources expended | 1 | ||
| Charitable activities | 3,4,5 | 101,823 | 100,392 |
| The Court Newspaper costs | 3 | 15,760 | |
| Amphitheatre Renovation costs | 3 | 27,917 | - |
| Accountancyandgovernance costs | 4 | - | 13 |
| Total Expenditure | 129,740 | 116,165 | |
| Net Income /(deficit) | **£(15,693) ** | £(12,267) | |
| Reconciliation of funds | |||
| Total funds brought forward | 28,412 | 40,679 | |
| Total funds carried forward | 7 | 12,719 | 28,412 |
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 2023
As of 31 December 2023 |
As of 31 December 2023 |
As of 31 December 2023 |
As of 31 December 2023 |
|---|---|---|---|
| All figures are £ | Note | 2023 | 2022 |
| Current Assets | |||
| Cash at bank and in hand | 12,719 | 28,412 | |
| Current Liabilities | |||
| Creditors: amounts fallingdue within 1year | 6 | - | - |
| Net Assets | 12,719 | 28,412 | |
| Funds | |||
| Unrestricted funds | 2,271 | 10,155 | |
| Restricted funds | 7 | 10,448 | 18,257 |
| Total Funds | £12,719 | £28,412 |
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 2023. 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).
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EARL'S COURT COMMUNITY TRUST
Notes to the accounts for the year ended 31 December 2023
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
| £ Earl's Court Development CompanyCommunityFund Grant Royal Borough of Kensington & Chelsea Renovation Grant Royal Borough of Kensington & Chelsea Other Grants Grants received for charitable activities Donations received for charitable activities Totalgrants/donations received for charitable activities Event and other income from charitable activities Total Income |
||
|---|---|---|
| 2023 | 2022 | |
| 25,000 | 59,650 | |
| 27,917 | - | |
| 2,000 | 2,000 | |
| 54,917 | 61,650 | |
| 10,743 | 10,482 | |
| 65,660 | 72,132 | |
| 48,387 | 31,766 | |
| 114,047 | 103,898 | |
The Trust received £27,917 from the Royal Borough of Kensington & Chelsea to renovate the Bousfield Primary School Amphitheatre. Following the renovation, the Earls Courtiers performed “West Side Story” at the theatre in the summer of 2023.
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EARL'S COURT COMMUNITY TRUST
Notes to the accounts for the year ended 31 December 2023, continued…
3 Resources Expended
| £ see notes 4,5 | 2023 | 2022 | |
|---|---|---|---|
| Charitable activity costs | |||
| Film Festival | 15,622 | 32,339 | |
| Amphitheatre Renovation Costs | 27,917 | - | |
| EC Drama Workshop | 3,662 | 1,917 | |
| EC Theatre and Musical Events | 62,356 | 48,091 | |
| Christmas Lights | 9,720 | 6,757 | |
| The Court Newspaper | - | 15,760 |
|
| Other costs | |||
| Arts Hub(1a Nevern Place)runningcosts | 7,067 | 7,901 | |
| ECCT donations made to local charities & organisations | 3,396 | 3,400 | |
| Total expenditure | 129,740 | 116,165 |
4 Trustees/Related Parties
No trustees received any remuneration during the year. Trustees receive reimbursement of Trust related expenses.
5 Employees and contractors
There were no paid staff/employees for the year to 31 December 2023 (2022: 0). There was one contractor for the year to 31 December 2023 (2021: 1) providing a weekly office cleaning service.
6 Creditors
There were no amounts falling due within 1 year.
7 Restricted Funds
Restricted Funds of £10,448 represent £1,934 for the EC Drama Workshop and £8,514 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 2023.
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:
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Robert Waddelow CA (ICAS – Institute of chartered accountants Scotland) 47 Broom Park
Teddington, Middx TW11 9RS
Date: 15 April 2024
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