Registered number: 07807225 Charity number: 1145135
APPLECARTLIVE LTD
(A company limited by guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020
APPLECARTLIVE LTD
(A company limited by guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the company, its Trustees and advisers | 1 - 2 |
| Trustees' report | 3 - 11 |
| Independent examiner's report | 12 |
| Statement of financial activities | 13 |
| Balance sheet | 14 - 15 |
| Notes to the financial statements | 16 - 32 |
APPLECARTLIVE LTD
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2020
Trustees
Rev Paul Regan Rev Ronald Smith Mr George Luke Mr Adrian Pickett Ms Hannah Roberts Ms Christine Lee Ms Anastasiya Trayanova Ms Louise Brown (resigned 14 February 2020) Mr Yasir Muraj (resigned 16 October 2019) Rev Nigel Cowgill (resigned 1 July 2020) Ms Sabina Nizamuddin Rev Peter Powers Mr Omar Bynon (appointed 9 March 2020) Mr Manuel Medeiros (appointed 1 July 2020)
Company registered number
07807225
Charity registered number
1145135
Registered office
170 Harold Road London E13 0SE
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APPLECARTLIVE LTD
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
Company secretary
Rev Ronald Smith
Chief executive officer
Peter Moreton
Accountants
Griffin Stone Moscrop & Co Chartered Accountants 21-27 Lamb's Conduit Street London WC1N 3GS
Bankers
CAF Bank Ltd 25 Kings Hill Avenue West Malling ME19 4JQ
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APPLECARTLIVE LTD
(A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2020
The Trustees present their annual report together with the financial statements of the company for the year ended 31 August 2020. The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
NOTE FROM THE CHAIR
Applecart has had a productive year which included some great new theatre productions, an arts festival and strong relationships with the local community. The second half of the year was disrupted by the Coronavirus and then by a conflict with our landlord. The Coronavirus meant that we had to put our staff into furlough and use the government grant to sustain us when we had to close our building. The conflict with our landlord arose when they prevented us from undertaking a long-planned feasibility study, for which we had successfully crowdfunded, into the redevelopment of the building and our future business plan. As a result, we ended the year looking for new premises for our work.
In spite of these difficulties, Applecart invested in new tech to allow us to livestream performances over the internet. This new venture has proved extremely successful and has allowed us to grow our audience not just in the local community but nationally and internationally. This was an unexpected and interesting development which probably would not have happened without the Coronavirus.
My thanks and that of the Board go to Peter Moreton, our Artistic Director, and his team for navigating an extraordinarily difficult year with good humour and creativity.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Constitution
Applecartlive Ltd, also known as Applecart Arts, is a company limited by guarantee governed by its Memorandum and Articles of Association dated 12th October 2012. It is registered as a charity with the charity commission. The directors of the charitable company (the charity) are its trustees for charity law.
Appointment of Trustees
The management of the company is the responsibility of the Trustees who are appointed and co-opted under the terms of the Articles of Association.
This year saw the appointment of four new Trustees: Ms Manuel Medeiros, an investment banker. Rev Nigel Cowgill left the board of Trustees
.
Trustee Induction and Training
Potential new Trustees meet at least two Board members and one member of the senior management team before consideration by the full Board. Newly-appointed Trustees are given a tour of the building and briefed by the Artistic Director and CEO to introduce them to the charity, and are supplied with a copy of the current business plan and financial statements. The board undergoes a regular skills audit and actively recruits where skill gaps are identified.
Staff Renumeration Policy
The Charity is an accredited Living Wage Employer. Senior staff pay is approved by Trustees. Rates of pay are benchmarked against comparable organisations.
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APPLECARTLIVE LTD (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
Employment Policy
Applecart's employment policy is set out in the charity's Employment Handbook. This includes our Equal Opportunities Policy and our Safeguarding Policy. The Employment Handbook is given to all employees at their induction.
Objectives and Activities
The objectives of the company are:
(A) To advance the education, public understanding and appreciation of the dramatic arts by providing and presenting for the public benefit high quality performances. This includes storytelling, theatre, film, music, poetry and other performances which are of educational, cultural and spiritual value to the community.
(B) To teach, train and encourage young artists and other members of the public in the arts of storytelling and dramatic presentation. When making our plans for the year, the trustees have considered the Charity Commission's guidance on public benefit. We have undertaken the following activities during the year.
ACTIVITIES
Film
Applecart received funding to deliver our Inside Out Project this year. We facilitated a number of workshops with inmates at Feltham Prison who developed and wrote a screenplay which we then filmed in Newham, training young people at risk of crime in camera, light and sound techniques as well as film acting and directing. The resulting film ‘Wake Up’ follows the journey of two young men who make different choices leading to very different outcomes. ‘Wake Up’ will be released to Film Festivals next year.
(A) Wake Up
Written by ten young men in Feltham Prison, Wake Up examines the consequences of our decision making alongside the increasing pressures young people face in an urban community.
(B) One Shot
Written by the winner of Applecart’s SEEDs Competition and filmed in Applecart’s Theatre., One shot tells the story of a young man in a dystopian society demanding more opportunities as the number of doors open to him diminish.
In our Theatre
Our theatre began the year with the launch of our ShoutOut! Festival – A Creative Response to Hate and Fear. The Festival was funded by the Building a Stronger Britain Together Initiative and explored themes of racial, sexual and gender injustice. The Festival welcomed fifteen theatre companies over two weeks. Performances this year included:
(A) Death and the Dominatrix
Maggie is forced to confront painful memories, deeply buried, to remind her-self… why did I think I need a man? A comedy about love, loss, disappointment and coming to terms with dying. Death and the Dominatrix features the songs of Annie Lennox and Eurythmics
Death and the Dominatrix premiered at the Brighton Fringe before travelling to the Edinburgh Fringe 2019 under the title Remind Me Again Why I Need A Man
(B) My Jerusalem
A solo performance derived from a song. A politically charged tale of a drunken one-night stand, infused with stories of growing up in the turmoil of 1980s Is-rael.
A nuanced exploration of the politics of division, from internal checkpoints and separation walls to gender norms.
(C) Art Not Hate
Students present creative responses to a series of performances, talks and workshops exploring extremism and honour based violence.
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APPLECARTLIVE LTD (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
(D) Busy Being Ze
A puppet theatre-show for family audiences about a little puppet named Ze and their journey to self-acceptance.
(E) Lord Knows… (This Won’t Be the Last Time)
Collating together over twenty hours of verbatim recordings gifted by survivors of domestic and sexual abuse. Lord Knows... (This Won’t Be the Last Time) tells in their own words the very real stories of “Alex” and “Sarah” who were assault-ed in the same month of the New York Times article into an abusive Hollywood movie producer. It chronicles their recovery in their own words, through each stutter, retraction, correction and mistake. Supported by music, dance, multime-dia, and broadcast this performance redirects the #MeToo narrative from the abuse to the slow and necessary recovery.
(F) Word
An interactive theatre piece where the audience become either the host or con-testant in a gameshow that holds a magnifying glass up to the words we use daily.
(G) Kind Hugs
A piece about the prejudice the Powerhouse women face on a daily basis in their lives. Powerhouse for Women is a charity that aims to empower women with learning disabilities through activities like Art, theatre, music, learning to read and write, trips and sports.
(H) White Girls
Two girls go on a journey. They want to annoy their Tory parents. They want to make a difference. But as they find themselves in the middle of an international refugee crisis, they soon realise that they are going to need to do more than just a fun run to help. Hilarious, heart-felt and haunting, White Girls is a come-dy-drama that explores voluntourism within the Calais Jungle from 2016 to the present day and asks searing questions on the notions of white charity and global inaction in the face of unquestionable social injustice.
(I) Sip + Rhyme
A spoken word workshop with live performances.
(J) The Privileged
An audience led participatory performance that uses the excitement of a polar bear encounter to explore race, identity and the community.
(K) The Cage Made of Fear
A girl that’s been manipulated into a sex-trade industry has accepted that there is no such thing as freedom, there is only control. She is dependent on the per-son she grew to believe is her hero. She knew that everything in this world has a price and her current employment was the price she had to pay for being res-cued by that hero.
However, everything changes when she meets her new client.
(L) The Promised Land
Rhiannon is 13, fears being possessed by the devil and has a recurring dream about the end of the world. She is not like her classmates; she doesn't go to parties, there's no pop music or make-up or Christmas trees in her world. She can recite the Bible, the Ten Commandments and the twelve sons of Jacob. De-spite her fears, she is beginning to find her voice and her own identity and se-cretly loves peering at the twinkly Christmas lights in wintery windows.
The Promised Land highlights the female experience of life within the group where men have the control and make the rules and where children are to be seen and not heard.
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TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
(M) Lady Bits
A verbatim style musical using the words of real woman to shine a light on the collective experiences of women in contemporary society. This mini musical was originally created for the “Notes To Self” module on the BA Musical Theatre course at the Royal Conservatoire of Scotland. Every word in the piece was said by a real person, including every umm, er, and fuck. The process involved interviewing a wide range of woman from different backgrounds, who are all of different ages and are from all around the world. From hours of interviews a collection of vignettes and songs was put together covering topics from motherhood to abuse. LADY BITS is a heartfelt, honest and sometimes painful exploration about what it means to be a woman today.
(N) White Latina
A solo show about Nina Gabriela's life. She was born in Caracas, Venezuela and raised in Lima, Peru. Her mother is Peruvian, and her father is British. Join her on this story that is interactive, fun and will make you think.
(O) The Cobbled Streets of Geneva
Adham is a silent and brooding middle-aged tragedy, standing outside a Mosque in North London. Waiting. It’s raining. Tea, an umbrella, and friendship arrive.
Two years later Adham’s boss invites him on holiday to “set him up”. Panic-stricken and wanting to bat away her advances he fabricates a husband, but when the plan backfires he’s got to convince someone to act the part…Who best but his Imam and absolutely platonic friend Raushan? The rest is what you’d expect: a call to adventure in the Alps, a meet-cute over antique books & Parisian coffee, a quarrel, and a sweet love with gardening gloves.
(P) At This Stage
After a successful three week run at the Miniver Theatre, a troupe of young ac-tors are ready and willing to let go of their most recent production and move on to bigger and better things, but Rupert isn’t going to let that happen. He loves the piece to the point of obsession and can’t let their show die. There are a few things you should know when trying to save a play from death. Thing number one: the actors aren’t going to like it. Trapped in a basement, forced to rehearse and fearing for their lives, there is only one way for the performers to gain their freedom. They must act their way out.
(Q) The Affair
Our Casanova, Gustavo, is getting ready to ask a very important question, but not before he has checked everything on his ‘to do’ list. After Daffadowndilly’s arrival, what is supposed to be a romantic evening soon starts to spiral out of control; following a knock on the door all reason turns to mayhem, and we are faced with a scenario that leaves all three characters grappling for sanity.
(R) Silently Hoping
Kalila Masri is a woman on the cusp of thirty and a life-changing decision, will she have a child with her partner, Charlotte? She wants to say yes. She does say yes. But Kalila has always struggled with reconciling her identity as British with being a Muslim. Her mother is concerned she can’t handle it, Charlotte is con-vinced everything will be fine, and both of them just want Kalila to finally com-mit to... something.
An out of the blue confrontation with her estranged father completely derails Kalila and she is left asking the big existential question: Who am I?
She’s a Londoner, she’s British-Asian, she’s a millennial, she’s fallen in love with a woman, and she’s a Muslim. But what does all that mean and what does she really want? And is it too late to figure that out?
(S) This Poo Shall Pass
Featuring witty spoken word poems interlaced with snippets from Molly’s ar-chive of strange Google searches, this brand, new show explores the oddness of bodies through the lens of Molly's identity as a transgender woman, testing the boundaries of public and private in surprising, and sometimes uncomforta-ble ways.
(T) They Called Her Salt
A multi-sensory opera experience based on the Ancient Greek legend of Or-pheus and Eurydice.
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APPLECARTLIVE LTD
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
(U) The Emergent Sessions
A live, online-streamed event celebrating some of the UK’s most talented emerging jazz artists.
(V) Flying Seagull Spectacular
Broadcast to over 7,000 school children across the UK, a redundant lighthouse keeper embarks on a highly interactive adventure involving pirates, magic, clowning and music.
(W) Manouche Etcetera
An online stream of Manouche Etcetera, a versatile trio whose repertoire in-cludes everything from fiery gypsy dances to curious klezmer and retro swing. With toe-tapping tunes and split-second virtuosity, they’ll take you from the sultry slums of Buenos Aires to 1920s London or Paris.
Workshops and Creative Learning
This year saw the launch of Applecart’s Youth Theatre, which began working with young people to devise a theatre performance based around identity and self-worth.
We also hosted a series of ‘Collider’ Workshops for emerging actors looking at ways that ideas can be brought into fruition as physical theatre through collaboration.
Our Seeds Competition challenged young writers to send scripts about the narratives that directly affect their lives. Our competition winner was rehearsed online during the pandemic Lockdown and filmed in our Theatre under social distancing guidelines. The filmed performance will be launched as part of our upcoming Dazed New World Festival in October.
We also delivered our Stories of Home project as part of Newham’s Lottery Heritage Month. Families were encouraged to share stories of home with each other, finding photographs from the past, drawing and painting pictures and writing poetry.
Artist Studios and Community Engagement
Applecart continues to open its doors to creative artists and community groups. We estimate the centre welcomes more than 500 people every week. Of these people we estimate approximately:
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70% are female and 30% are male;
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45% are Muslim, 42% are Christian, 5% are Hindu and 8% are of other or no faith;
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We welcome a diverse ethnic mix of people: o African (Nigerian, Ghanaian, Somalian),
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Asian (Bengali, Indian, Pakistani, Chinese, Afghanistan),
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European (British, Italian, Dutch, French),
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South American (Colombian, Chilean)
Creative Artists
The charity has provided permanent studio space for a resident potter, a group of artists working in digital media and robotics and a community radio station. We've also made affordable rehearsal space available for young theatre companies developing new work.
Community Engagement
Applecart is home to a wide variety of charities, social enterprises and community groups including:
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Bajuni Women Advocacy
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The East London JKA Karate Club
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Over 60's Club
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Women's Keep Fit
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Bengali Saturday School
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Early Days English
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Aim Skills Development Group
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Globe Youth Limited
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Thamescare Limited
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Ace Tutors
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Fun Fitness
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Four Christian communities
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APPLECARTLIVE LTD (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
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Vanza Manda!
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Brahma Kumaris
We also provide English-as-a-second language classes, ad hoc meeting space for other community groups, organisations and individuals
CHARITIES VALUES
Applecart tells stories that challenge injustice and prejudice and bring people together on a glob-al scale. We provide a welcoming, non-judgemental space where people feel confident to have their stories heard and listen to others. Listening to these voices, we nurture creative talent to create high quality arts and theatre which can be celebrated by the whole community to create a richer and stronger Newham.
We undertake to ensure and protect creative integrity in every aspect of our work as we en-deavour to attain our values:
Knowledge
• We use our skills and expertise to nurture arts toward creating excellent arts and theatre
Creativity
• We strive for creative excellence, and champion the transformative role that arts can play in people’s lives. We celebrate people and nurture their ideas to create an environment that breeds creativity
Challenge
• We use arts and theatre to challenge perceived norms or prejudices. We prioritise justice and equality above financial gain and expediency.
Openness
• Applecart is a place where people are valued equally. We aim to create an environment, where people feel safe to speak their mind and challenge each other’s views encouraging healthy conversation and learning.
Justice
• Our work is not just for art’s sake, but has a higher purpose, reflecting important issues in the community and championing social justice.
Fun
• We’ll talk about the serious matters, but where possible, arts and theatre should be enjoyable, rewarding and fun. We have a good time.
ACHIEVEMENTS AND PERFORMANCE
Like all organisations and individuals, the sweeping devastation of the pandemic has had a dramatic effect on Applecart’s operations. For the first half of the year Applecart’s curve continued upward. Our theatre was attracting quality emerging artists and offering opportunities for young theatre companies to perform and develop their work.
Our ShoutOut! Festival in November was a huge success, welcoming 15 theatre companies in as many days and attracting local audiences as well as visitors across London.
Inside Out was ground-breaking project working in partnership with Feltham Prison, the GLA and local schools and Public Referral Units in Newham.
We also completed our Art Not Hate project, working with secondary school children in Newham and Waltham Forest to explore their experiences of hate crime through drama and film.
Projects for the Spring and Summer were in full development with presentations for Newham’s Lottery Heritage Month and the Newham Word Festival already costed and financed.
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APPLECARTLIVE LTD
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
Then another curve took over and we were forced to close the centre under government guidelines.
Still the charity was able to operate online, and we were pleased to deliver our scaled down Stories of Home Project, encouraging families to discuss their histories and hopes for the future.
In the meantime, we began to plan for the future and decided to combine our knowledge and capability in film with our understanding of theatre. Once lockdown lifted, we began working with volunteers from the theatre industry to convert our theatre into a broadcasting studio with full online streaming facilities.
In July we were ready to put our new live-stream studio to the test and broadcast our first ‘Emergent Sessions’ of some of the most talented young jazz musicians in the UK. This was followed by a live-edited performance of ‘Flying Seagull Spectacular streamed to more than 7,000 school children around the UK. We finished Applecart’s financial year with another live broadcast of ‘Manouche Etcetera’, an evening of fiery gypsy dances, klezmer and retro swing.
Boyed with confidence and in defiance of COVID-19, we’ve booked a full festival of online live-edited performances to launch this coming October. Dazed New World Festival will highlight narratives that offer the opportunity to build a better and kinder society in the days to come.
FINANCIAL REVIEW
Not surprisingly, the last financial year has been challenging for Applecart as the continuing pandemic has severely restricted the normal income streams.
Due to the forced closure of the building, the charity’s total income of £203,709 was £85,937 lower than the previous year of £289,646.
Expenditure of £200,079 was also significantly reduced by £71,700, from £271,779 due to the lower running costs. It had been the intention to further reduce Applecart’s deficit this year but, due to Covid, we have only managed to make a reduction of £3,630, leaving a remaining cumulative deficit across all funds of £31,593.
Applecart’s financial stability has been maintained by making use of Government Covid relief schemes such as the Job Retention Scheme, the Grants for Retail, Leisure and Entertainment and the Business Rate Relief.
Other circumstances have further complicated Applecart’s narrative this year. In March the Charity was successful in securing £40,000 funding from the Greater London Authority to undertake a feasibility study on the redevelop of the current building at 170 Harold Road. This funding was to match fund a further £11,244 from an online community fundraising campaign. Unfortunately, the building landlord, blocked the feasibility study. The GLA has since agreed to hold the funding in the expectation that Applecart will find an alternative site from which to trade. As such the funding will not show in our accounts until the next financial year.
The charity has responded to the challenge of Covid by using the months between March and the end of the financial year to convert the theatre into a live-streaming studio space. A programme of new work is scheduled to begin in October which will be funded by the unspent restricted funds of the £27,865 grant awarded by the Arts Council’s Emergency Response fund awarded in May 2020. This remaining £8,300 represents the balance unspent on restricted funds at 31 August 2020.
Future Plans
Since September 2020, Applecart has been negotiating a lease for an old library owned by the London Borough of Newham. The charity has established that its social engagement makes it eligible for an 80% reduction on the market rental rate for the building. This will significantly reduce the outgoings in the years ahead. The expectation is that the move to the new premises will take place in June 2021. The Charity will then be in a position to receive the funding from the Greater London Authority as well as access the restricted funding from the online Crowdfunding campaign.
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APPLECARTLIVE LTD (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
The building landlord’s actions have undermined Applecart’s ability to carry out its business plan. As a result, a claim has been submitted for loss of earnings and interference of contracts. At present the finances show an accrued rent for the current building. Applecart is challenging the landlord’s rental claims and, at the time of writing, the dispute remains unresolved.
Applecart has been successful in applying for £78,440 from the Arts Council’s Culture Recovery Fund. The first payment of this grant (£70,596) was received in October 2020. This Fund identified the reflation of reserves as an eligible grant expenditure and this enabled the charity to allocate £42,261 of the grant toward its future resilience, ready for the move to the new building in 2021. It is expected that the charity will be profitable in the upcoming financial year and begin to re-emerge from the pandemic with lower overheads and restored income streams.
Reserves Policy
We have invested our reserves heavily to take over the premises at Harold Road and begin renovations. As at 31 August 2020 the charity had a deficit on its net assets of £31,593, an improvement on the deficit of £35,223 as at 31 August 2019. This is after taking account of an accrual for rent owed to the Landlord in respect of the period January - August 2020, however we draw your attention to the paragraph below which provides more information in respect of the ongoing legal dispute between Applecart and its Landlod. Whilst the charity is currently recording a deficit, the charity intends to return to a reserves policy set by the Trustees on 23 January 2014 and build up a reserves worth up to 3 to 6 months running costs. This is to cover periods when there may be an unexpected drop in income or unplanned expenditure is needed.
The Trustees will review this policy in the coming year.
PRINCIPAL RISKS AND UNCERTAINTIES
The Trustees review the principle areas of risk at their regular six-weekly meetings. The four principal areas of risk and the steps being taken to mitigate them are:
Financial resilience:
The charity's reserves need to improve to enable it to cope with unexpected financial shocks. Applecart is committed to building its reserves. To this end we have undertaken an independent review of our business plan, to ensure our future planning will generate the maximum income possible. We have outsourced our financial reporting to ensure the Trustees and the Artistic Director & CEO have monthly up-to-date and accurate information. We have also embarked on a long-term fund-raising strategy in the hope of developing ongoing relationships with funders.
Dependence on voluntary income
The charity depends significantly upon voluntary income to operate, this is inherently unpredictable and the environment for fundraising is currently difficult. We have begun a process of maximising income in line with our business plan.
Legal dispute with Applecart’s Landlord:
In March this year Applecart raised funds for a feasibility study on our building at Harold Road. The Heads of Terms in our lease included a pre-emption clause giving Applecart the option to purchase the building and we approached our landlord in the expectation that we would take up the option. The landlord indicated that the sale would most likely not be granted and blocked the feasibility funding.
In doing so the landlord placed Applecart’s future in jeopardy and the incident was reported to the Charity Commission.
Since then Applecart has been negotiating a settlement with the landlord, whilst seeking new premises. The GLA has brokered conversations with Newham Local Authority and at the time of writing Applecart is in the process of seeking the lease of an alternative site not far from our current location.
Applecart is working hard to mitigate these circumstances, but we await the result of our negotiations with our landlord, as well as the outcome of our discussions with the Local Authority, both of which will have a significant
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APPLECARTLIVE LTD
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TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
effect on Applecart’s future strategy.
Staff capacity:
Applecart has a relatively small staff team all of whom work long hours with great commitment. During busy period we employ temporary paid and volunteer staff. Staff assessments are used to monitor stress levels and ensure staff take their full holiday entitlement.
GOING CONCERN
Although the pandemic has challenged Applecart’s financial stability throughout the year. We have been successful in receiving grant funding from the Government’s Leisure and Hospitality Industry Grant Scheme as well as the Furlough Scheme. We have also been successful in applying both for the Arts Council’s Emergency Relief. Our online streaming facility has also afforded Applecart an income stream which is beginning to reap financial rewards. The closure of our building during the pandemic has cut our running costs substantially and as a result we have been able to survive the year having reduced our reserve deficit substantially.
At the time of writing, we have learned that an application to the Government’s Cultural Relief Fund has been successful and this will enable the Charity to reflate its reserves ready for the challenges of the year ahead. For these reasons the Trustees consider the charity to be a going concern.
RESPONSIBILITIES OF THE BOARD OF TRUSTEES
Company law requires the Board of Trustees to prepare accounts for each 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 income and expenditure for the financial year then ended. In preparing those accounts, the Board of 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 accounts on the going concern basis unless it is inappropriate to assume that the company will continue that basis.
The Board of Trustees is 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 accounts comply with the Companies Act 2006. The Board of Trustees is 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.
Members of the Board of Trustees
Members of the Board of Trustees who are directors for the purposes of company law and trustees for the purposes of charity law, who served during the year and up to the date of this report are set out on page 1.
Independent Examiner
Griffin Stone Moscrop & Co has been reappointed as independent examiner for the ensuing year.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................
Rev Paul Regan Trustee Date: 20 May 2021
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APPLECARTLIVE LTD (A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2020
Independent examiner's report to the Trustees of Applecartlive Ltd ('the company')
I report to the charity Trustees on my examination of the accounts of the company for the year ended 31 August 2020.
Responsibilities and basis of report
As the Trustees of the company (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 my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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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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.
This report is made solely to the company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work or for this report.
Signed: Dated: 24 May 2021 Richard Hill FCA Griffin Stone Moscrop & Co Chartered Accountants 21-27 Lamb's Conduit Street London WC1N 3GS
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APPLECARTLIVE LTD
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2020
| Note Income from: Donations and legacies 2 Charitable activities 3 Other trading activities 5 Investments 6 Total income Expenditure on: Raising funds 7 Charitable activities 8 Total expenditure Net income/(expenditure) Transfers between funds 18 Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2020 £ 33,035 57,065 79,302 4 169,406 7,607 124,443 132,050 37,356 (38,729) (1,373) (38,520) (1,373) (39,893) |
Restricted funds 2020 £ - 34,303 - - 34,303 1,092 66,937 68,029 (33,726) 38,729 5,003 3,297 5,003 8,300 |
Total funds 2020 £ 33,035 91,368 79,302 4 203,709 8,699 191,380 200,079 3,630 - 3,630 (35,223) 3,630 (31,593) |
Total funds 2019 £ 21,300 127,565 140,779 2 289,646 29,931 241,848 271,779 17,867 - 17,867 (53,090) 17,867 (35,223) |
|---|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 16 to 32 form part of these financial statements.
Page 13
APPLECARTLIVE LTD (A company limited by guarantee) REGISTERED NUMBER: 07807225
BALANCE SHEET AS AT 31 AUGUST 2020
| Note Fixed assets Tangible assets 11 Investments 12 Current assets Stocks 13 Debtors 14 Cash at bank and in hand Creditors: amounts falling due within one year 15 Net current liabilities Total assets less current liabilities Creditors: amounts falling due after more than one year 16 Net liabilities excluding pension asset Total net assets Charity funds Restricted funds 18 Unrestricted funds 18 Total funds |
- 18,781 5,776 24,557 (44,487) |
2020 £ 3,337 - 3,337 (19,930) (16,593) (15,000) (31,593) (31,593) 8,300 (39,893) (31,593) |
775 13,982 25,661 40,418 (64,408) |
2019 £ 3,667 100 3,767 (23,990) (20,223) (15,000) (35,223) (35,223) 3,297 (38,520) (35,223) |
|---|---|---|---|---|
Page 14
APPLECARTLIVE LTD
(A company limited by guarantee)
BALANCE SHEET (CONTINUED) AS AT 31 AUGUST 2020
The company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
Rev Paul Regan Trustee
Date: 20 May 2021
The notes on pages 16 to 32 form part of these financial statements.
Page 15
APPLECARTLIVE LTD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020
1. Accounting policies
1.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Applecartlive Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
1.2 Income
All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Donated services or facilities are recognised when the company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the company of the item is probable and that economic benefit can be measured reliably.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
1.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.
Support costs are those costs incurred directly in support of expenditure on the objects of the company.Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements..
Charitable activities and Governance costs are costs incurred on the company's operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.
1.4 Government grants
Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the Statement of financial activities as the related expenditure is incurred.
Page 16
APPLECARTLIVE LTD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020
1. Accounting policies (continued)
1.5 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank.
1.6 Tangible fixed assets and depreciation
Tangible fixed assets costing £400 or more are capitalised.
A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of Financial Activities incorporating Income and Expenditure Account..
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
- Plant and machinery 25% straight line - Fixtures and fittings 10%-25% straight line - Office equipment 25% straight line - Computer equipment 25% straight line
1.7 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading ‘Gains/(losses) on investments’ in the Statement of Financial Activities incorporating Income and Expenditure Account.
1.8 Stocks
tocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
1.9 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
1.10 Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Page 17
APPLECARTLIVE LTD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020
1. Accounting policies (continued)
1.11 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
1.12 Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
1.13 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund.
Investment income, gains and losses are allocated to the appropriate fund.
2. Income from donations and legacies
| Unrestricted funds 2020 £ Donations 4,244 Government grants 28,791 33,035 |
Total funds 2020 £ 4,244 28,791 |
|---|---|
| 33,035 |
Page 18
APPLECARTLIVE LTD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020
2. Income from donations and legacies (continued)
| Unrestricted | Total | |
|---|---|---|
| funds | funds | |
| 2019 | 2019 | |
| £ | £ | |
| Donations | 21,300 | 21,300 |
3. Income from charitable activities: Dramatic arts productions
| Unrestricted funds 2020 £ Charitable Activities 57,065 Unrestricted funds 2019 £ Charitable Activities 66,806 |
Restricted funds 2020 £ 34,303 Restricted funds 2019 £ 60,759 |
Total funds 2020 £ 91,368 |
|---|---|---|
| Total funds 2019 £ 127,565 |
Page 19
APPLECARTLIVE LTD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020
4. Analysis of Grants and Fees
| Grants & Fees - Restricted Fund Big Lottery Fund Building a stronger britain East End Community Foundation Ecorys - Women's Vote Centenary Small Grants Fund Greater London Authority London Borough of Newham - Citizen Assembly Culture Trail 2019 London Borough of Newham - green street festival share my culture singer London Borough of Newham - Newham Heritage Month London Borough of Newham London District Advance Fund M&C Saatchi Sub Total Grants & Fees - Unrestricted Fund Alexander Campbell - Dramatic Arts Production for 17th Anniversary Celebrations Ceramic Workshop Deposit for community office Discover Children's Story Centre Arts Council London Methodist District - Moving Stories Project Mummies Republic Newham Invoices Protection Approaches Spoken Words Artist London Borough of Newham Zakir Adam - Iz Dis a Digga Sub Total |
2020 £ - 7,275 - - 18,648 4,000 50 400 - 3,330 600 34,303 - - - 600 23,365 - - 100 2,000 - 25,000 6,000 57,065 |
2019 £ 10,000 5,375 - (200) 25,841 - - - 1,250 11,670 6,823 60,759 5,523 275 975 7,169 - 40,000 7,570 - - 100 5,194 - 66,806 |
|---|---|---|
Page 20
APPLECARTLIVE LTD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020
5. Income from other trading activities
Income from non charitable trading activities
| Unrestricted funds 2020 £ Cafe Sales 5,315 Office & Studio Hire 31,677 Room Hire 36,615 Other Income 5,695 79,302 Unrestricted funds 2019 £ Cafe Sales 15,355 Office & Studio Rental 44,805 Room Hire 73,971 Other Income 6,648 140,779 |
Total funds 2020 £ 5,315 31,677 36,615 5,695 |
|---|---|
| 79,302 | |
| Total funds 2019 £ 15,355 44,805 73,971 6,648 |
|
| 140,779 |
Page 21
APPLECARTLIVE LTD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020
6. Investment income
| Unrestricted funds 2020 £ Bank interest receivable 4 Unrestricted funds 2019 £ Bank interest receivable 2 |
Total funds 2020 £ 4 |
|---|---|
| Total funds 2019 £ 2 |
7. Expenditure on raising funds
Costs of raising voluntary income
| Unrestricted funds 2020 £ Fitness instructor costs 113 Food and drinks 1,874 Opening inventories 772 Other costs 3,298 Hire of equipment 1,550 7,607 |
Restricted funds 2020 £ - - - - 1,092 1,092 |
Total funds 2020 £ 113 1,874 772 3,298 2,642 |
|---|---|---|
| 8,699 |
Page 22
APPLECARTLIVE LTD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020
7. Expenditure on raising funds (continued)
| Fitness instructor costs Food and drinks Closing inventories Opening Inventories Other costs Hire of equipment Cafe salaries |
Unrestricted funds 2019 £ 200 5,565 (775) 810 12,245 1,454 8,247 27,746 |
Restricted funds 2019 £ - - - - - 2,184 - 2,184 |
Total funds 2019 £ 200 5,565 (775) 810 12,245 3,638 8,247 |
|---|---|---|---|
| 29,930 |
8. Analysis of expenditure on charitable activities
Summary by fund type
| Unrestricted funds 2020 £ Commercial activities 48,046 Charitable activities 76,397 124,443 |
Restricted funds 2020 £ 11,418 55,519 66,937 |
Total funds 2020 £ 59,464 131,916 |
|---|---|---|
| 191,380 |
Page 23
APPLECARTLIVE LTD (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020
8. Analysis of expenditure on charitable activities (continued)
Summary by fund type (continued)
| Commercial activities Charitable activities |
Unrestricted funds 2019 £ 61,754 120,759 182,513 |
Restricted funds 2019 £ 1,670 57,665 59,335 |
Total funds 2019 £ 63,424 178,424 |
|---|---|---|---|
| 241,848 |
9. Analysis of expenditure by activities
| Commercial activities Charitable activities Commercial activities Charitable activities |
Activities undertaken directly 2020 £ 1,926 33,689 35,615 Activities undertaken directly 2019 £ - 81,366 81,366 |
Support costs 2020 £ 57,539 98,227 155,766 Support costs 2019 £ 63,423 97,059 160,482 |
Total funds 2020 £ 59,465 131,916 |
|---|---|---|---|
| 191,380 | |||
| Total funds 2019 £ 63,423 178,425 |
|||
| 241,848 |
Page 24
APPLECARTLIVE LTD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020
9. Analysis of expenditure by activities (continued)
Analysis of direct costs
| Staff costs Dramatic Arts Productions Disposal of Investments Dramatic Arts Productions Staff costs Analysis of support costs Administration costs Legal and professional fees Marketing costs Premises costs Governance costs Staff training Staff costs Depreciation |
Commercial activities 2020 £ - 1,925 - 1,925 Commercial activities 2019 £ - - - Commercial activities 2020 £ 27,916 6,899 - 19,240 3,000 483 - - 57,538 |
Charitable activities 2020 £ 7,980 25,609 100 33,689 Charitable activities 2019 £ 61,114 20,252 81,366 Charitable activities 2020 £ - 1,663 455 24,715 - - 70,411 983 98,227 |
Total funds 2020 £ 7,980 27,534 100 |
|---|---|---|---|
| 35,614 | |||
| Total funds 2019 £ 61,114 20,252 |
|||
| 81,366 | |||
| Total funds 2020 £ 27,916 8,562 455 43,955 3,000 483 70,411 983 |
|||
| 155,765 |
Page 25
APPLECARTLIVE LTD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020
9. Analysis of expenditure by activities (continued)
Analysis of support costs (continued)
| Administration costs Legal and professional fees Marketing costs Premises costs Governance costs Staff costs Depreciation 10. Staff costs Wages and salaries |
Commercial activities 2019 £ 27,053 - - 34,047 2,323 - - 63,423 |
Charitable activities 2019 £ - 7,140 928 7,650 - 78,337 3,004 97,059 2020 £ 78,391 |
Total funds 2019 £ 27,053 7,140 928 41,697 2,323 78,337 3,004 |
|---|---|---|---|
| 160,482 | |||
| 2019 £ 106,836 |
The average number of persons employed by the company during the year was as follows:
| 2020 | 2019 |
|---|---|
| No. | No. |
| 6 | 7 |
No employee received remuneration amounting to more than £60,000 in either year.
Page 26
APPLECARTLIVE LTD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020
11. Tangible fixed assets
| Cost or valuation At 1 September 2019 Additions At 31 August 2020 Depreciation At 1 September 2019 Charge for the year At 31 August 2020 Net book value At 31 August 2020 At 31 August 2019 |
Plant and machinery £ 250 - 250 114 63 177 73 136 |
Fixtures and fittings £ 3,693 - 3,693 2,873 417 3,290 403 820 |
Office equipment £ 11,639 654 12,293 9,373 170 9,543 2,750 2,266 |
Computer equipment £ 1,337 - 1,337 892 334 1,226 111 445 |
Total £ 16,919 654 |
|---|---|---|---|---|---|
| 17,573 | |||||
| 13,252 984 |
|||||
| 14,236 | |||||
| 3,337 | |||||
| 3,667 |
12. Fixed asset investments
| At 1 September 2019 Disposals Net book value At 31 August 2019 |
Investments in subsidiary companies £ 100 (100) |
|---|---|
| 100 |
Investment related to a 100% shareholding in The Old School Room Limited, a company registered in England and Wales, company number 08624767. The company was dissolved on 17 December 2019.
Page 27
APPLECARTLIVE LTD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020
13. Stocks
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Raw materials | - | 775 |
14. Debtors
| Due within one year Trade debtors Other debtors Prepayments and accrued income |
2020 £ 4,419 5,618 8,744 18,781 |
2019 £ 7,796 164 6,022 |
|---|---|---|
| 13,982 |
15. Creditors: Amounts falling due within one year
| Trade creditors Pensions payable Accruals and deferred income |
2020 £ 9,160 292 35,035 44,487 |
2019 £ 6,232 44 58,132 |
|---|---|---|
| 64,408 |
Deferred income as at 31 August 2020 was £1,713 (2019 - £18,250).
16. Creditors: Amounts falling due after more than one year
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Unsecured loan | 15,000 | 15,000 |
Page 28
APPLECARTLIVE LTD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020
17. Financial instruments
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Financial assets | ||
| Financial assets measured at fair value through income and expenditure | 5,776 | 25,661 |
Financial assets measured at fair value through income and expenditure comprise of cash at bank.
Page 29
APPLECARTLIVE LTD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020
18. Statement of funds
| Statement of funds - current year Balance at 1 September 2019 £ Unrestricted funds General Funds (38,520) Restricted funds Restricted Funds 3,297 Total of funds (35,223) Statement of funds - prior year Unrestricted funds General Funds Restricted funds Restricted Funds Total of funds |
Income £ 169,406 34,303 203,709 Balance at 1 September 2018 £ (54,963) 1,873 (53,090) |
Expenditure £ (132,050) (68,029) (200,079) Income £ 228,887 60,759 289,646 |
Transfers in/out £ (38,729) 38,729 - Expenditure £ (212,444) (59,335) (271,779) |
Balance at 31 August 2020 £ (39,893) 8,300 (31,593) Balance at 31 August 2019 £ (38,520) 3,297 (35,223) |
|---|---|---|---|---|
Page 30
APPLECARTLIVE LTD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020
19. Summary of funds
Summary of funds - current year
| General funds Restricted funds |
Balance at 1 September 2019 £ (38,520) 3,297 (35,223) |
Income £ 169,406 34,303 203,709 |
Expenditure £ (132,050) (68,029) (200,079) |
Transfers in/out £ (38,729) 38,729 - |
Balance at 31 August 2020 £ (39,893) 8,300 (31,593) |
|---|---|---|---|---|---|
Summary of funds - prior year
| General funds Restricted funds |
Balance at 1 September 2018 £ (54,963) 1,873 (53,090) |
Income £ 228,887 60,759 289,646 |
Expenditure £ (212,444) (59,335) (271,779) |
Balance at 31 August 2019 £ (38,520) 3,297 (35,223) |
|---|---|---|---|---|
20. Analysis of net assets between funds
Analysis of net assets between funds - current period
| Unrestricted funds 2020 £ Tangible fixed assets 3,337 Current assets 16,257 Creditors due within one year (44,487) Creditors due in more than one year (15,000) Total (39,893) |
Restricted funds 2020 £ - 8,300 - - 8,300 |
Total funds 2020 £ 3,337 24,557 (44,487) (15,000) (31,593) |
|---|---|---|
Page 31
APPLECARTLIVE LTD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020
20. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior period
| Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Creditors due in more than one year Total |
Unrestricted funds 2019 £ 3,667 100 37,121 (64,408) (15,000) (38,520) |
Restricted funds 2019 £ - - 3,297 - - 3,297 |
Total funds 2019 £ 3,667 100 40,418 (64,408) (15,000) |
|---|---|---|---|
| (35,223) |
21. Operating lease commitments
At 31 August 2020 the company had commitments to make future minimum lease payments under noncancellable operating leases as follows:
| Not later than 1 year Later than 1 year and not later than 5 years |
2020 £ 30,000 50,000 80,000 |
2019 £ 30,000 80,000 |
|---|---|---|
| 110,000 |
22. Related party transactions
Paul Regan is the chair of the Applecartlive board of trustees and is also a trustee of Newham Methodist Circuit. The Methodist Church Circuit in Newham holds the freehold of the property at 170 Harold Road and is effectively Applecart's landlord. Nigel Cowgill is the district chair of The London District of the Methodist Church and sits on The District Advance Fund Committee. Hannah Roberts sits on The District Advance Fund Committee. Applecartlive Ltd received funds from the District Advance Fund of £3,329 (2019-£11,670).
Donations from trustees received in the year amounted to £570 (2019 - £nil).
Page 32