Dutch Centre- Annual Report 2023 Report of the Trustees and Unaudited Financial Statements for the year ended 31 December 2023 for The Dutch Centre (A company limited by guarantee) Charity number 1156855 Company number 8503161
Dutch Centre- Annual Report 2023 Contents Page Report of the Trustees 3-10 Reference and Administrative Information Objectives and Activities The Year in Review Achievemenls and Performance Fundraising Activities Financial Review Structure, Governance and Management Independent Examinerfs Report Statement of Financial Activities 12 Income and Expenditure Account 13 Balance Sheet 15 Notes to the Financial Statements 16-18
Dutch Centre- Annual Report 2023 TRUSTEES. ANNUAL REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees present their directors, report and unaudited financial statements of the charity for the year ended 31 Dember 2023. REFERENCE AND ADMINISTRATIVE INFORMATION Charity Namg: The Dutch Centre Charity registration number: 1156855 Company number: 8503161 Registered office and operational address: The Dutch Church 7 Austin Friars London EC2N 2HA Trustees and Members In 2023 Julielle Bogaers Trustee Edwin Welman Trustee, Chair of the Board of Trustees, Church Council appointee and Member (resigned 11 September 20231 Dutch Church Member Michiel (Mike) Kermer Trustee and Treasurer Frederik (Frits) Vogels Trustee Je8n-Jacques van Helten Trustee Ajal Notowicz Trustee Anton Valk Trustee (appointed Chair of the Board of Trustees and Member 11 September 20231 Bertjan van de Lagemaal Trustee, Church Council appointee Christine Sas Trustee (appointed 18 October 20231 Jeff Tijssen Trustee (appointed 11 September 20231 Ellen-Lois Milan Trustee (appointed 18 October 20231 Marinus Rovers Trustee, Church Council appointee lappointed 18 October 20231 Hannah Altorf Independent Member 8oaftl Secretary JaniqLJe Koopman Bankers Nalwesl 288 Green Lane Palmers Green London N13 5GA Independent Examlner Tilesh Patel BA FCA THE SME CLINIC 7 Slrarford Place London W1C 1AY
Dutch Centre- Annual Report 2023 OBJECTIVES AND ACTIVITIES For over 470 years, the Dutch Church in Austin Friars, in the centre of the City of London, has been a fixture and beacon for Dutch people living in Greater London. To safeguard and ensure the health and purpose of this unique piece of Dutch heritage, the Kerkenraad (Church Council) decided in 2010 to broaden the appeal of the Church beyond the religious community in London. It invested in the fabric of the Church and created an attractive environment for a Dutch Centre with the following objectives.. to educate the public in and promote Dutch arts, music, language and the Dutch cultural heritage, in particular {bul without limitalionl by the provision of a Dutch cultural ntre in London., and • to advance and promote the preservation and conservation of the Dutch Church at Austin Friars for the benefit of the public. These objectives are contained in the Articles of Association of the Dutch Centre. In the exercise of their duties and powers, the Iruslees have had due regard lo the guidance issued by the Charity Commission on public benefit. THE YEAR IN REVIEW This is my first annual review as Chair, a position which l assumed in the autumn of 2023. For the Dutch Centre, 2023 was a very special year as it was our 10, anniversary. Since its foundation in 2013, the Dutch Centre has achieved over the past 10 years a solid reputation with visitors and has been able lo punch above its weight in offering a superb high quality and diverse programme of activities which has attracted a loyal base of visitors. In November we celebrated this anniversary with a glittering festival showcasing the many falS of our programming. Overall, in 2023 the Charity staged 22 high-quality events with wide ranging subjects, which was a major achievement for our small executive team and programming committee. Aiming at multiple different audience groups, of which only half were Dutch, these events had in common that they represented the best of the Netherlands in culture, science, business, and society. In 2023 these events attracted more than 2,000 visitors lo our home venue, the historical Dutch Church at Austin Friars in the City. The board of trustees also used this celebratory year to brainstorm about the strategic direction for the next 10 years and lo invest a part of our reserves in attracting new audiences for our anniversary celebrations. It is our aim that we will not only grow the number of visitors lo our events to 3,000 in the ne8r future but also lo expand our partnerships with British organisalions to reach an even larger audience. We also aim lo establish closer links with cultural and scientific establishments and broader society in the Netherlands. To kick start this strategic direction, the board increased the number of trustees to 11 by the end of the year. These are now all active in subcommittees, joined by external experts and executive team members.. Programming Committee, NCL Committee, Fundraising Committee and Marketing and Communication Committee.11 is our aim that, in the long run, their activities will largely be taken over by an enlarged executive team. Today that is not possible within the current financial means. 11 requires additional funds which we will seek from traditional and new supporters. All what we achieve at the Dutch Centre is realised by our highly motivated executive team, our enlhusiaslic volunteers and the commitment of our hands-on members of the board of trustees. I want to thank them for their extraordinary motivation, enthusiasm and commitment. In particular, I wish to express our gratitude to Edwin Welman, my predecessor, for his leadership as chair during the past years.
Dutch Centre- Annual Report 2023 ACHIEVEMENTS AND PERFORMANCE Activities The Dutch Centre was established to showcase, engage and inspire. We fulfilled this ambition in 2023 with a rich and varied programme of events that were informative, Ihoughl-provoking, engaging and entertaining and attracted an audience of over 2,000 people lo our wonderful venue in Austin Friars. We hosted 17 core events with another just for our Friends, and 4 Nededandse City Lunches. A highlight was the Kings Day event in April where, together with other Dutch organisalions in the UK, we organised a full day of family entertainment in and around our venue al Austin Friars. Vve estimate that some 1,200 people, not all of whom were Dutch Citizens, attended. Other programme highlights were as follows. Films The Low Countries Film Festival, the UK'S only Dulch-language cinema festival, has a tradition of showcasing the best and newest Dutch and Flemish shorts, documentaries and feature films, followed by talks with the film makers. In 2023 we screened 'Sweet Dreams, and 'When we lost lo the Gem7ans', amongst others. Like every year in January, we teamed up with Shortcutz Amsterdam for their Audience Award, an international competition lo choose the best Dutch short film of the year. 2023 marks the 1 Oth edition of the competition. Muslc In November over 100 guests were treated to a concert by the supremely talented family of Alexander Warenberg Icellol, Maria Warenberg (mezzo soprano) and Nikola Meeuwsen Ipianol to celebrate the 1 Oih anniversary of the founding of the Dutch Centre. The Ambassador H.E Karel van Oosterom opened proceedings and the concert was followed by a reception. Talks We hosted a number of tslks on a diverse range of topics ranging from the arts lo the legacy of slavery. Of particular note were the following. In February we hosted a hybrid event with both a live and streamed audience where we explored the possibilities of slrenglhening British - Dutch cooperation in the textile and fashion industry. Participants shared best practices in achieving a more sustainable and transparent industry. In October 2023 we hosted a lecture by Dr Amy Orrock, curator of the Rubens and Women exhibition 8t the Dulwich Picture Gallery. The theme was the varied and important role occupied by women, both real and imagined, in Rubens, wodd. An evening with poet and novelist, Simone Alangana Bekono, one of the Nelhedands, most exciting new literary talents, in conversation with Dr Hans Demeyer, Lecturer in Dutch and Comparative Literature at University College London. As fomier colonial powers from around the world come to terms with their role in the slave trade, we organised a talk by Anton de Kom, whose book titled 'We slaves of Suriname,, was a fierce indictment of racism and Dutch colonial rule. Comedy In December we were thoroughly entertained by author and comedian. Paulien Comelisse. She shared her experien$ and comic observations about her role as teacher of Dutch at Sheffield University. 140 people allended.
Dutch Centre- Annual Report 2023 Activities (continued) Theatre As part of his residency at the Dutch Cenlre, 'total artist. Herman van Veen was joined by guitarist and singer Edith Leerkes to perform a selection of songs and stories from his latest how, The Painter Sings. This was 8 hugely popular event and attracted an audience of 140. South African singer Karin Hougaard made a guest appearan and a few days later starred in her own show at the Dutch Centre. Hemian van Veen also curated an exhibition of his lalesl paintings in Austin Friars. Of the 4 talks held under the Nederlandse City Lunche5 theme, the most popular was an evening talk hosted by Tim de Wit and Arend Jan Boekestijn, previewing the forthcoming Dutch elections to be held in November. The talk was part of their regular podcast series and broadcast live from the Dutch Centre lo a live audience of over 100 people. FUNDRAISING ACTIVITIES As with most charities, the Dutch Centre is dependent on outside funding. The primary Sour of funding is event sponsorship. The trustees continue to work with the Embassy of the Kingdom of the Netherlands in the UK to jointly develop a series of programmes and are very grateful to the Embassy for sponsorship and other support provided. The environment for securing commercial sponsorship for events has proven dtfficult in 2023. As part of the strategic review undertaken by the board in 2023, the programme of events has been redesigned into themes with a view to making them more attractive to potential sponsors as well as further increasing audience numbers. The fundraising committee has been refreshed with newly appointed trustees to promote our offerings. In addition lo Embassy and corporate support, the charity continues to benefit from individual donations or by subscription to Friends memberships. The latter continue lo grow and the board thanks our Friends Coordinator, Pia Rainey, for leading the programme to btx)st Friends, membership. FINANCIAL REVIEW This year, the Dutch Centre succeeded in staging a full programme of 17 core events and a further 4 lunchtime events under the Nederlandse City Lunches initiative. In addition, one event was held exclusively for Friends. Some of the core events were part of an Autumn festival lo mark the 10th anniversary since the founding of the Dutch Cenlre. These involved notable personalities with attendant higher appearance fees and costs and, despite attracting lickeled audiences of over 100 levent, the programme did not attract sufficient commercial sponsorship to enable our costs to be fully recovered. As a result, the Dutch Centre incurred an operating loss for events of £6.3k. Fundraising proved difficult in 2023 but, all the same, the board sanctioned additional marketing and PR resources with the aim of increasing awareness and our audience base for the future and this contributed to an increase in overheads and miscellaneous expenses (excluding charitable donations) of £ 10.9k vs prior year. This increase and the shortfall in funds raised resulted in an under recovery of overheads and miscellaneous expenses of £13.6k and compounded the operating loss on events of £6.3k so that the total result for the year was a loss of £19.9k.
Dutch Centre- Annual Report 2023 FINANCIAL REVIEW {continued) The operating loss has reduced the charity's unrestricted reserves to £16.9k-. this includes £6.1k received from the Nederfandse City Lunches legacy organisalion in 2022 and disclosed 8s a designated fund in 20221 lo aid transparency) but which has now been absorbed into general unrestricted reserves. The trustees are aware that reserves have fallen below the target of £30k sel by the reserves policy but are resolved lo recover reserves to the target level within the next 3 years. Looking ahead, the Iruslees have planned an ambitious programme in 2024 maintaining our focus on high-quality events to attract both increased audiences and sponsorship and improve our financial resources. Sources of income The Dutch Centre gratefully received support from the following organisalions and individuals in 2023 which was treated as income for the year.. Event Sponsorship Netherlands Ministry of Foreign Affairs ABN AMRO Peppijn Visscher Wereldschool Henneken Flying Dutchman YES Expatcamp Ad Bakker David Bos Ashley Burns Anglo Netherlands De Regenboog School Richmond Dutch School £29,565 £ 5,000 £ 500 £ 400 100 £ 350 £ 400 200 200 500 100 50 50 £37,415 9 events Kings Day I Cello Biennale Kings Day Kings Day Kings Day Kings Day Kings Day Kings Day Kings Day Kings Day Kings Day Kings Day Kings Day Individual support Friends of the Dutch Centre Donations £ 2,540 (Excluding Gift Aid) £ 6,735 In 2021 the Dutch Centre received sponsorship income from the Nelhedands Ministry of Foreign Affairs of £3,100 for the Future of UKIDulch Urban Planning event and £3,200 for the Waste Age event. £1,900 was reiVed in 2023 to sponsor an event with Babs Gons. All these events were postponed and are now expected lo lake place in 2024. This income, less any costs incurred for planning these events in 2023, has not been taken lo our profit and loss statement for the year but treated as 'Advance Income Received, and deferred lo 2024 when the events are planned lo be held and any additional income and costs will be accounted for. See note 8 to the financial statements. Other source of income are ticket sales and proceeds from consumables sold during events.
Dutch Centre- Annual Report 2023 Reserves Policy The trustees have examined the charity's requirements for reserves in the light of the main risks to the organisation and updated their policy in 2020 The Covid-19 pandemic highlighted the need for the trustees to retain sufficient reserves to operate in a climate of great uncertainty, impacting our ability to both stage events and lo raise funds. In the light of this experience, the trustees examined the financial impact of a number of scenarios ranging from investing in a year of event planning and promotion without any events taking place through to a full programme of events taking place but with ha the historic run rate of sponsorship or ticket sales income. The trustees evaluated the maximum exposure in these scenarios to amount to £30,000 and resolved lo build up unreslricled funds to this level. Unrestricted funds as at 31 December 2023 were £ 16,962 and trustees have resolved to increase these funds to the target level of £30,000 within the next 3 years. Investment Policy The charity operates a current account with Nalwest bank through which the day lo day operations are Iransacled. To date, surplus funds in the current account are not sufficient to generate materi81 interest income and the trustees are of the opinion that they have not warranted investment, given the near-lerm cash flow requirements. This policy is regularly reviewed by the Iruslees. STRUCTURE, GOVERNANCE and MANAGEMENT The organisation is a charitable company limited by guarantee, incorporated on 24 April 2013 and registered as a charity on 29 April 2014. The company was established under a Memorandum of Association which established the objects and powers of the charitable company.11 is govemed by ils Articles of Association. In the event of the company being wound up, the members are required lo contribute an amount not exedIng £ 1. According lo the Articles of Association, the charity's objectives are twofold. In the first place, il aims to educate the public in and promote Dutch arts, music, language and the Dutch cultural heritage, in particular by the provision of a Dutch cultural centre in London. In the second pla, il aims to advance and promote the preservation and conservation of the Dutch Church at Austin Friars for the benefit of the public. The trustees are in charge of the charity's operations and ils members have a non-executive role. All members and trustees give their time voluntarily and re1ve no benefits from the charity. The Dutch Centre has its main address al the Dutch Church, 7 Austin Friars in London. It is also the venue where the Dutch Centre normally holds ils events. To ensure its independence from the Dutch Church, the Iruslees of the Dutch Centre appointed by the Church are not allowed by the Articles of Association to form a majority of the Board. This is also reflected in the composition of the membership of the charity. The Dutch Church is one of the three members of the Dutch Centre. The other two members are the Chair of the Board of Trustees of the Dutch Centre and a person independent of both Church and Dutch Centre. The trustees will meet as often as required but not less than four limes a year. In 2023, the trustees held seven meetings. The Dutch Centre's freelance Business Manager endeavours to allend all Iruslee meetings as an observer. A General Meeting with Members is not required under our constitution but members are represented at regular board meetings and the Independent Member is invited lo attend from time to time.
Dutch Centre- Annual Report 2023 Structure, Governance and Management {continued) The board of trustees apply the UK Charity Govemance Code and the Dutch Cultural Code of Governan. A number of policies and procedures governing the conduct of the trustees and ils representatives in performing the activities of the Dutch Centre have been developed. These are kept under constant review. In Autumn 2023, the chair led a strategic review to set the direction of the charity for the next 10 years with the aim of significantly increasing our audiences, developing partnerships with like- minded organisations in the UK and developing closer ties with cultural and scientific establishments and society in the Netherlands. To kick start this strategic direction, the board increased the number of trustees to 11 by the end of the year. These are now all active in subcommittees, joined by external experts and executive team members.. Programming Committee, NCL Committee, Fundraising Committee and Marketing and Communication Committee. It is our aim that, in the long run, their activities will largely be taken over by an enlarged executive team. Today that is not possible within the current financial means. It requires additional funds which we will seek from traditional and new supporters. The Business Manager, Daphna Plaschkes, is engaged as and when required by the Dutch Centre on the basis of a freelan contract. She has been delegated responsibility by the board to lake the lead in the preparation and execution of the event programme, in the representation of the Dutch Centre among our cultural partners in the UK, and in a significant part of the fundraising efforts for the Dutch Centre. Daphna is a valued and permanent member of our executive team. The Dutch Centre is a registered Charity for the purposes of the Charity Commission in the UK as well as with HMRC for Gift Aid and as a general benefit inslilulion IAlgemeen Nut Beogende Instelling, or ANS11 with a cultural objective Iculturele ANBII for the purpose of the Dutch tax authorities. The Iruslees are mindful of the requirements of these regulatory bodies.
Dutch Centre- Annual Report 2023 Structure, Governance and Management {continued) This report covers activities between 1 January 2023 and 31 December 2023. At the start of the year, the following people were Member or Trustee.. Juliette Bogaers Trustee and Chair of Programme & Matheling Committee Member Trustee and Treasurer Independent Member Trustee, Chureh Council appointee Trustee, chair of the Board of Trustees, Church Council appointee and Member Trustee Trustee, board meeting Chair Trustee Trustee Dutch Church Michiel (Mike) Kermer Hannah Allorf Bertjan van de Lagemaat Edwin Welman Anton Valk Ajal Nolowicz Frederik IFritsl Vogels Jean-Jacques van Hellen The following resignations were accepted and appointments approved by the board.. 11 September 2023.. Resignation of Edwin Welman as Trustee and Chair and appointment of Jeff Tijssen as Trustee. Appointment of Anton Valk as Chair and Member. 11 September 2023.. resignation of Marieke Albeda as Board Secretary. 18 October 2023.. Appointment of Marinus Rovers as Trustee (Church Council appointeel and Christine Sas and Ellen-Lois Milan as Trustees. 20 November 2023. Appointment of Janique Koopman as Board Secretary. This report has been prepared in accordance with the Statement of Recommended Practice ISORPI applicable to charities preparing their report and accounts in accordan with the Financial Reporting Standard applicable to UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20161- (Charities SORP IFRS 10211 and the Companies Act 2006. The Company has taken advantage of the small companies, exemption in preparing the report above. The trustees declare that they have approved the Iruslees, report (including directors, report) above. Signed on behalf of the charity's trusteesl directors Chairman and Member Date.. 11 September 2024 10
Dutch Centre- Annual Report 2023 INDEPENDENT EXAMINER'S REPORT to the TRUSTEES of THE DUTCH CENTRE {charity no. 1156855) I report lo the Iruslees on my examination of the accounts of the above charity for the year ended 31 December 2023. As the Charity's Iruslees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 I'lhe Act"). I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the Act. I have completed my examination. I confirm that no material matters have come to my allenlion in connection with the examination which gives me cause lo believe that in, any material respect= the accounting records were not kept in accordance with section 130 of the Charities Act., or the accounts did not accord with the accounting records,. or the accounts did not comply with the applicable requirements concerning the form and content of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'lrue and fairf view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other mallers in connection with the examination to which allenlion should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Tilesh Patel Fellow of the Institute of Chartered Accountants in England and Wales THE SME CLINIC 7 Stratford Pla London W1C 1AY Date.. 11 September 2024
Dutch Centre- Annual Report 2023 Statement of Financial Activities for the year ended 31 December 2023 2023 2022 Notes Unrestricted Funds Total Funds Total Funds Gross Income in the reporting peri(xl £68,756 £68,756 £77,193 Total Expenditure in the reporting peri(xl £88,680 £88,680 £68,152 Tax Payable Nel Income l (lossl for the reporting period £119.924) £119.924) £9.041 Rgconciliation of Funds: Total Funds brought forward £36,886 £36,886 £21,720 Designated Reserves - specific contributions less expenditure in the year £ Nil £ Nil £6,125 Loss for the reporting period £119,924) £119,924) £9,041 Total Funds carried forward £16,962 £16.962 £36,886 Detailed analysis of income and expenditure is provided in pages 13 and 14 of these accounts.
Dutch Centre- Annual Report 2023 INCOME & EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Funds Raised Corporate donations Individuals Grants Gift Aid Overhead Subsid Total Funds Raised £0 £6,735 £0 £0 £0 £13,000 £9,313 £0 £903 £0 £6,73 £23.21 Income from Operations Tickets Sold Bar lake Event sponsorship other Income £15,274 £2,715 £37,415 £6,617 £8,854 £5,895 £35,879 £3,349 £62.021 £53,977 Operations costs Artists Fees Artists Travel Artists Hotel & Food Facility Hire Equipment Hire Allocated Personnel Event Consumables l Other -£12,31 -£1,908 -£4,830 -£6,945 -£3,064 -£30,394 -£8.934 68,385 -£5,670 -£3,920 -£5,247 -£9,449 -£4,610 -£27.805 £217 56,484 Net Gainl (Lossl from Operations 6,36 2,50 Freelance Overhead Web maintenance PR Materials & Printing Admin (incl Bank charges) Governance Total Overheads Misc. Expenditure Facilities Capex Charitable Donations Bad Debt Provision Other Totsl Misc. Expenditure -£7,726 -£2,657 -£4,046 -£2,107 -£1,729 -£2,882 -£737 -£565 -£2,273 -£499 18,26 46,95 -£471 -£142 £0 -£1,417 -£629 -£2,393 £0 -£1,690 2,03 4,712 Net Income I loss 19,92 13
Dutch Centre- Annual Report 2023 Notes to the Income & Expenditure Account The Dutch Centre incurred an operating loss of £19.9k for the year. The major factors which have contributed lo this result are as follows. Funds raised declined by £16.5k, primarily due lo a lack of corporate donations. Some corporate donations are secured by an agreement that spans 3 10 4 years bul all are accounted for in the year of receipt. 3 corporate donations, lotalling £12k and covering the 3-year period ending 2025, were received and accounted for in 2022. This year, the Dutch Centre succeeded in staging a full programme of 17 core events and a further 4 lunchtime events under the Nederlandse City Lunches initiative. In addition, one event Was held exclusively for Friends. Some of the events involved notable personalities with allendanl higher appearance fees and costs and, despite attracting ticketed audIenS of over 100 levent, the programme did not attract sufficient commercial sponsorship lo cover our costs and this primarily accounted for an operating loss for events of £6.3k as compared with an operating loss of £2.5k in 2022. Overheads and miscellaneous expenditure, excluding charitable donations, lotalled £20.2k and were £10.9k higher than in 2022. This was primarily due lo a decision by the board to increase marketing and PR resources lo boost awareness and future audience numbers. Governance costs also increased.. in 2023 these included fees for independent examination of both the 2022 and 2023 report and accounts as well as reimbursement of travel costs incurred by the Chair in the pursuit of his duties. In 2022, the Dutch Centre donated nel proceeds from the Selma van de Perre event lo nominated charities. This was not repeated in 2023 and accounts for the reduction in charitable donations of £2.2k in 2023. The charity does not employ staff. All activities are carried out by volunteers or people on a freelance basis. 14
Dutch Centre- Annual Repoyt 2023 BALANCE SHEET AS AT 31 DECEMBER 2023 Notes Assets 3111212023 3111212022 Notes Liabilities 3111212023 3111212022 Current Assets Natwest Current Liabilities Creditors £30,297 £44,409 £12,360 £7,112 Paypal Pell Cash Total Cash £0 £341 £30,639 £93 £251 £44,754 Advance Income received £7,812 £10,315 £6,496 £0 £6,496 £9,560 £0 £9,560 Pre ments Total Debtors Total Current Assets £37,135 £54,313 Total current Ilabllltles £20.172 £17,427 Unrestrlcted Funds Designated R8sorv8s Unrestricted Funds | Reserves blfwd Tfr from Designated Reserves GainlLoss current Reserves clfwd Total Unrestricted Funds £0 £6.125 £30,761 £21,720 £6,125 -£19,924 £16,962 £16.962 £0 £9,041 £30,761 £36,886 ear Total Assets £37,135 £54,313 Total Liabilities £37.135 £54,313 The financial statements have b*n ppared in accordance with the accounting policies set out in the notes to the financial statements and comply wth the Charity's governing document, the Charities Act 2011 and wtth the Financial Reporting Standard applicable to the UK and Republic of Ireland IFRS 1021 (effective 1 January 20161- (Charities SORP IFRS10211 and the Companies Act 2006. For financial year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. No members have required the company to obtan an audit of ics accounts for the year in question in accordance with section 476 of the Companies Act 2006. The directors a¢knOedge their responsibility lor complying with the requirements of the Act with respect to accounting records and for the preparation of accounts. These accounts have been prepared in a¢cordan¢e w((h the provisions applicable to companies subject to small Companies, regime. Chairman and Member Date: 11 September 2024 15
Dutch Centre- Annual Repoyt 2023 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 1. Accounting Policies The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the prdIng year. la) Basis of Accounting The financial statements have been prepared in accordance with Accounting and Reporting by charities.. Statement of Recommended Practice applicable to charities preparing accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 2016)- (Charities SORP IFRS1021) and the Companies Act 2006. Ibl Fund Accounting Unrestricted Funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity. Designated funds are unrestricted funds earmarked by the Trustees for particular purposes. Restricted funds are subject to restrictions on their expenditure imposed by the donor or through the tems of an appeal. Icl Income All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. General sponsorship agreements span multiple years but the income is accounted for in the year of r1p1. For legacies, enlillemenl is the earlier of the charity being notified of an impending distribution or the legacy being received. Voluntary income is reiVed by way of grants, donations, gifts and sponsorship and is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled lo the grant. Grants reiVed bul which are conditional upon the delivery of specified performance requirements are accounted for as the charity meets those performance requirements. The amount of the grant that is received bul uneamed is Irealed as deferred income. Donated goods, services and facilities are included al the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts. Id) Expenditure Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be recovered and is reported as part of the expenditure to which il relates. Expenditure has been classified under headings that aggregate all costs related to the category. Governan includes those costs incurred in connection with administering the charity in compliance with constitutional and statutory requirements. These include trustee liability insurance premiums, independent examination fees and trustee travel costs. lel Foreign currencies Assets and liabilities in foreign currencies are translated into steding at the rates of exchange ruling al the balance sheet date. Transactions in foreign currencies are translated into sterling at the rale of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving al the operating result. 16
Dutch Centre- Annual Repoyt 2023 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 2. Golng Concem The trustees acknowledge that the charity relies on donations, grants and sponsorship to support its continuing ability to fund events in pursuit of its aims and objectives. They also recognise that the Embassy of the Kingdom of the Netherlands in the UK and the Dutch Church are key supporters and maintaining a close relationship with both is critical to continued operations. The Covid-19 crisis in 2020- 21 obliged the Dutch Centre lo cancel or postpone a number of events. The trustees recognise that the impact of further suspension of activities in any one year will t)olh temporarily stop the inflow of income bul will also limit costs incurred lo some planning and promotional costs for future events and consider that the resetves are sufficient to maintain viability for the foreseeable future. 3. Trustees Remuneratlon and Related Party Transactlons No trustees received any remuneration during the year12022.. Nill- The current Chair is based in the Netherlands and trustees agreed to reimburse travel costs up lo a designated limit for each trip necessarily incurred in pursuit of his duties. The total amount reimbursed was £60012022.. Nill- No Iruslee had any personal interest in any contract or transaction entered into by the charity during the year12022.' Nil}. The charity does not employ any staff. All activf(ies are carried out by volunteers or people contracted on a freelan basis. 4. Taxatlon The charity is exempt from tax on its charitable activities. Gift Aid is accounted for in the year of receipt. 5. Cash at Bank and in Hand The PayPal account is used lo collect prOedS from ticket sales. The amounts collected are periodically transferred to the main operating current account held with Natwest Bank. 6. Dgbtors Debtors represent ticket sales income and donations and sponsorship income pledged but not received as at 31 Dember 2023. 7. Creditors Creditors represent costs incurred but not settled prior to 31 December 2023. 8. Advance Incomg Rg¢9ived In 2021 the Dutch Centre received SFX)nsorship income from the Netherlands Ministry of Foreign Affairs of £3,100 for the Future of UKIDutch Urban Planning event and £3,200 for the Waste Age event. £1,0 was received in 2023 to sponsor an event with Babs Gons. All these events were postponed and are now expected to take place in 2024. This income, less any costs incurred for planning these events in 2023, has not been taken to our proff( and loss statement for the year but treated as 'Advance Income Reived, and deferred to 2024 when the events are planned lo be held and any additional income and costs will be accounted for.
Dutch Centre- Annual Repoyt 2023 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 9. Unrestricted Funds The Dutch Centre incurred a loss of £19.9k for the year ended 31 December 2023 and has resulted in a reduction of the charity's unrestricted funds lo £16.9k. The creation of a designated reserve in 2022 reflected a desire by the trustees to be transparent in recognising the receipt of funds from the legacy Nededandse City Lunches organisation, when the Dutch Centre took over its activities. The NCL events have formed a part of the Dutch Centre wre programme since 2022 and surpluses or losses Irom operating this programme will be reflected in unrestricted reserves. 2023 2022 Unrestricted Funds brought forward £ 30,761 £ 21,720 Transfer from designated reserves £ 6,125 £ Nil Surplus l {loss) for the year Unrestricted Funds carried foNard £ 16962 £30761 Designated Reserves brought forward £ 6,125 £ Nil Transfer lo unreslricled funds £16,125) £ Nil Contribution from NCL organisation £ Nil £6,125 Expenditure in the year £ Nil £ Nil Designated Reserves carried forward £ Nil Total Unrestricted Funds as at 31 Dmber £16962 £36 886 The Iruslees have resolved to recover the value of unrestricted resetves to the target level of £30k over the next 3 years. 18