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← The Dutch Centre

2024-12-31-accounts

Dutch Centre – Annual Report 2024

Unaudited Financial Statements for the year ended 31 December 2024

for The Dutch Centre (A company limited by guarantee)

Charity number 1156855 Company number 8503161

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Dutch Centre – Annual Report 2024

Contents Page
Reference and Administrative Information 3
Objectives and Activities 4
The Year in Review 4
Achievements and Performance 5
Fundraising Activities 6
Financial Review 6
Structure, Governance and Management 8
Independent Examiner’s Report 10
Statement of Financial Activities 11
Income and Expenditure Account
 12
Balance Sheet
 14
Notes to the Financial Statements 15 - 17

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Dutch Centre – Annual Report 2024

REFERENCE AND ADMINISTRATIVE INFORMATION

Charity Name: 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 during the period under review

Juliette Bogaers Trustee until 6 March 2025
Dutch Church Member
Michiel (Mike) Kermer Trustee and Treasurer
Frederik (Frits) Vogels Trustee
Jean-Jacques van Helten Trustee
Ajal Notowicz Trustee until 26 March 2025
Appointed Independent Member 27 March 2025
Anton Valk Trustee, Chair of the Board and Member
Bertjan van de Lagemaat Trustee, Church Council appointee
Christine Sas Trustee
Jeff Tijssen Trustee
Ellen-Lois Milan Trustee
Marinus (Marc) Rovers Trustee, Church Council appointee
Hannah Altorf Independent Member (resigned 26 March 2025)
Marieke Albeda Board Secretary. Appointed Trustee 8 January 2025

Board Secretary Marieke Albeda

Bankers NatWest 288 Green Lane Palmers Green London N13 5GA

Independent Examiner Tilesh Patel BA FCA THE SME CLINIC 7 Stratford Place London W1C 1AY

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Dutch Centre – Annual Report 2024

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. It celebrates its 475[th] jubilee in 2025.

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:

These objectives are contained in the Articles of Association of the Dutch Centre. In the exercise of their duties and powers, the trustees have had due regard to the guidance issued by the Charity Commission on public benefit.

THE YEAR IN REVIEW

After the successful celebration of our 10[th] anniversary in November 2023 the Charity organised a programme of 17 high-quality events in 2024 covering a wide range of subjects. Aiming at multiple different audience groups, of which only half were Dutch, these events had a common theme in representing the best of the Netherlands in culture, science, business, and society. These events attracted more than 2,000 visitors to our home venue, the historic Dutch Church at Austin Friars in the City. Our annual cello concert hosted and supported by the Netherlands embassy took place in November at the residence of the Dutch ambassador with Thomas Prechal, an exciting young talent and winner of the Cello Biennale 2024.

In 2024 we continued to implement our strategic plan to grow the number of visitors to our events to 3,000, to expand our partnerships with British organisations so as to reach an even larger audience and to establish closer links with cultural and scientific establishments and broader society in the Netherlands. During the year we reorganised our operational committees and, effective January 2025, we were able to enlarge the executive team to include both a freelance programme manager and a business manager. This was made possible by multiyear sponsorship agreements from a number of corporate supporters and a generous grant by the Postcode Society Trust.

As part of the reorganisation, new subcommittees were created in which trustees were joined by external experts and executive team members. The Programming Committee, NCL Committee, Fundraising Committee and Marketing and Communication Committee met regularly during the year, addressing the wide range of topics needed to establish a successful cultural platform in a city where so many activities take place.

All that we achieve at the Dutch Centre is realised by our highly motivated executive team, our enthusiastic volunteers, and the commitment of our hands-on members of the board of trustees. I want to thank them all for their extraordinary motivation, enthusiasm, and commitment and, in particular, I wish to mention Daphna Plaschkes and Juliette Bogaers. Daphna, our business manager since 2014, sadly became seriously ill in the summer and was obliged to step down from her duties. Daphna has led the development and delivery of our programme since inception and has worked tirelessly to make the Dutch Centre a success. The entire team wish Daphna a full recovery and look forward to welcoming her back in some capacity. Juliette, trustee for the past 9 years and long serving Chair of the Programming Committee, voluntarily took on Daphna’s duties in her absence in the second half of this year and was instrumental in delivering a successful programme. The board wishes to place on record our appreciation of the tremendous efforts she made this year for the Dutch Centre.

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Dutch Centre – Annual Report 2024

A CHIEVEMENTS AND PERFORMANCE

Activities

The Dutch Centre was established with a mission to showcase, engage, and inspire. We fulfilled this ambition in 2024 with a rich and varied programme of events that were informative, thought-provoking, and entertaining and attracted an audience of over 2,000 people to our wonderful venue in Austin Friars. We hosted 17 events including Kings Day in April where, together with other Dutch organisations in the UK, we organised a full day of family entertainment in and around our venue at Austin Friars. We estimate that some 1,100 people, not all of whom were Dutch citizens, attended. Kings Day has become a regular fixture and a highlight in our programme calendar, and we have ambitions to develop this event further in 2025. Other programme highlights are described below.

Films

The Low Countries Film Festival, the UK’s only Dutch-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. It is proving a popular event, taking place over several days, and this year it attracted a total audience of over 150. In 2024 we featured 3 films, ‘De Terugreis’, ‘Human Forever’ and ‘This is not a Christmas Movie’ and hosted a screening for children titled ‘Fox and Hare Save the Forest’ on a Sunday afternoon. All films are subtitled in English. Like every year in January, we teamed up with Shortcutz Amsterdam for their Audience Award, an international competition to choose the best Dutch short film of the year. 2024 marks the 11[th] edition of the competition.

Music

Several music events were held during the year including an Organ recital in April and a performance by The Hague String Trio in February. In September in collaboration with the Dutch Church, we initiated the Sunday Matinee Chamber Music Concerts to give young professional Dutch musicians a platform in the UK. A highlight was the chamber concert of cello and piano hosted by the Dutch Ambassador H.E Paul Huijts at his residence in November featuring the winners of the Cello Biennale held in Amsterdam. This was a very special evening and warmly received by our many guests.

Talks

In the Autumn we hosted several talks on a diverse range of topics. Of note were the following.

Comedy

The winners of the annual Leids Cabaret Festival made a return to the Dutch Centre in June and entertained the audience of over 100 guests with a fun filled performance.

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Dutch Centre – Annual Report 2024

Activities (continued)

Public Diplomacy Events

As part of their Public Diplomacy programme the Dutch Embassy collaborated with us in staging three inspiring and stimulating events designed to facilitate an open dialogue and share perspectives between the Netherlands and the UK to learn from each other.

FUNDRAISING ACTIVITIES

As with most charities, the Dutch Centre is dependent on outside funding. The primary source of funding is event sponsorship. The trustees continue to work closely 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 continues to be challenging but we were more successful in fundraising for general purposes, securing a number of multiyear corporate sponsorship agreements and a substantial grant from the Postcode Society Trust. More details are set out in the Sources of Income section (below).

The absence, through illness, of our long serving freelance Business Manager for the second half of 2024 necessitated a restructuring of our operations with effect from 2025 and this includes the recruitment of a replacement Programme Manager and Business Manager on freelance contracts, with the latter focusing on fundraising. We are hopeful that this will deliver improved fundraising and sponsorship income.

In addition to Embassy and corporate support, the charity continues to benefit from individual donations or by subscription to Friends memberships. The latter is approaching 100 in number and the board thanks our Friends Coordinator, Pia Rainey, for leading the programme to boost Friends’ membership.

FINANCIAL REVIEW

This year, the Dutch Centre organised a full programme of 17 events. A number received financial support from the Embassy of the Kingdom of the Netherlands and the long-term absence of our freelance Business Manager during the second half of the year resulted in several trustees stepping in to take on her duties without remuneration. With ticket sales meeting expectations, all these factors combined to generate a surplus of £11.8k from operating these events. Funds raised were boosted by the award of a grant of £10,000 from the Postcode Society Trust. Effective 2024, the board changed the accounting policy for income recognition of multi-year sponsorship agreements so that income is amortised over the period of the agreement, typically 3 years. All these factors resulted in funds raised amounting to £19.2k in 2024. Overheads were in line with prior years and the net result was a surplus of £18.7k for the year.

The net surplus of £18.7k was added to our reserves of £16.9k so that reserves as at 31 December 2024 totalled £35.6k and exceeded the target of £30k set by the trustees as part of our Reserves Policy. Looking ahead, the trustees have increased resources and planned an ambitious programme in 2025 maintaining our focus on high-quality events to attract both increased audiences and sponsorship.

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Dutch Centre – Annual Report 2024

Financial Review (continued)

Sources of income

The Dutch Centre gratefully received support from a number of organisations and individuals in 2024.

We secured 3 -year sponsorship agreements for £4,000 from each of Houthoff, Loyens Loeff and Henneken. In 2024, the board resolved to change its accounting policy on income recognition for multi-year sponsorship agreements: effective 1 January 2024, income is amortised over the period of the agreement. Funds from Houthoff were received and taken to income in 2023 but the funds from Loyens Loeff and Henneken were received in 2024 and subject to the new accounting policy, with only part recognised as income in 2024, as set out below. A grant of £10,000 was obtained from the Postcode Society Trust in 2024 and half taken to income in 2024 (reflecting elapsed time between eligibility for such grants).

Funds Raised 2024 Multi-Year Agreements ● Loyens Loeff £2,222 Corporate donation ● Henneken £. 556 Corporate donation ● Postcode Society Trust - £10,000 July 2024 £5,000 Grant Annual Donations ● Carpenters Company £1,000 Corporate donation £8,778 Event Sponsorship ● Netherlands Ministry of Foreign Affairs £31,489 10 events ● ABN AMRO £ 4,000 Cello Concert £35,489 Individual support ● Friends of the Dutch Centre £ 3,080 ● Donations £ 6,246 (Excluding Gift Aid) £ 9,326

Other sources of income are ticket sales and proceeds from consumables sold during events. Gift Aid on eligible donations is accounted for on a cash basis.

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 to raise funds. In the light of this experience, the trustees examined the financial impact of several 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 half 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 to build up unrestricted funds to this level.

Unrestricted funds as at 31 December 2024 were £ 35.6k.

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Dutch Centre – Annual Report 2024

Investment Policy

The charity operates a current account with NatWest bank through which the day-to-day operations are transacted. To date, surplus funds in the current account are not sufficient to generate material interest income and the trustees are of the opinion that they have not warranted investment, given the near-term cash requirements.

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. It is governed by its Articles of Association. In the event of the company being wound up, the members are required to contribute an amount not exceeding £ 1.

According to the Articles of Association, the charity’s objectives are twofold. In the first place, it 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 place, it aims to advance and promote the preservation and conservation of the Dutch Church at Austin Friars for the benefit of the public. The trustees oversee the charity’s operations, and its members have a non-executive role. All members and trustees give their time voluntarily and receive no benefits from the charity.

The Dutch Centre has its main address at the Dutch Church, 7 Austin Friars in London. It is also the venue where the Dutch Centre normally holds its events. To ensure its independence from the Dutch Church, the Articles of Association stipulate that trustees appointed by the Church may not 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 times a year. In 2024, the trustees held eight meetings. The Dutch Centre’s freelance Business Manager and Programme Manager endeavour to attend all trustee 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 may attend.

The board of trustees apply the UK Charity Governance Code and the Dutch Cultural Code of Governance. A number of policies and procedures governing the conduct of the trustees and its representatives in performing the activities of the Dutch Centre have been developed. These are kept under constant review.

In 2024 we continued to implement our strategic plan to grow the number of visitors to our events to 3,000, to expand our partnerships with British organisations so as to reach an even larger audience and to establish closer links with cultural and scientific establishments and broader society in the Netherlands. During the year we reorganised our operational committees and, effective January 2025, we were able to enlarge the executive team to include both a freelance Programme Manager and a Business Manager. This was made possible by multiyear sponsorship agreements from a number of corporate supporters and a generous grant by the Postcode Society Trust.

As part of the reorganisation, new subcommittees were created in which trustees were joined by external experts and executive team members. The Programming Committee, NCL Committee, Fundraising Committee and Marketing and Communication Committee met regularly during the year, addressing the wide range of topics needed to establish a successful cultural platform in a city where so many activities take place. The freelance Business Manager, Jacobine van Laar, and Programme Manager, Jasmijn Maljers were engaged in January 2025 and are valuable members 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 institution ( Algemeen Nut Beogende Instelling , or ANBI ) with a cultural objective ( culturele ANBI ) for the purpose of the Dutch tax authorities. The trustees are mindful of the

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Dutch Centre – Annual Report 2024

requirements of these regulatory bodies.

Structure, Governance and Management (continued)

This report covers activities between 1 January 2024 and date of approval of this Annual Report. At the start of the year, the following people were Member or Trustee:

Juliette Bogaers Trustee and Chair of Programming Committee
Dutch Church Member
Michiel (Mike) Kermer Trustee and Treasurer
Hannah Altorf Independent Member
Bertjan van de Lagemaat
Trustee, Church Council appointee.		 Trustee, Church Council appointee.
Anton Valk Trustee, chair of the Board of Trustees, and Member
Ajal Notowicz Trustee, board meeting Chair
Frederik (Frits) Vogels Trustee
Jean-Jacques van Helten
Trustee		 Trustee
Marinus (Marc) Rovers Trustee, Church Council appointee
Jeff Tijssen Trustee
Ellen-Lois Milan Trustee
Christine Sas Trustee

There were no personnel changes during the financial year, but the board accepted the following resignations and appointments post year end:

This report has been prepared in accordance with the Statement of Recommended Practice (SORP) applicable to charities preparing their report and accounts in accordance with the Financial Reporting Standard applicable to UK and Republic of Ireland (FRS 102) (effective 1 January 2016) - (Charities SORP (FRS 102)) 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 trustees’ report (including directors’ report) above.

Signed on behalf of the charity’s trustees/ directors

Chairman and Member

Date

Anton Valk 10/09/2025

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Dutch Centre – Annual Report 2024

INDEPENDENT EXAMINER’S REPORT to the TRUSTEES of THE DUTCH CENTRE (charity no. 1156855)

I report to the trustees on my examination of the accounts of the above charity for the year ended 31 December 2024.

As the Charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the 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 145(5)(b) of the Act.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

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.

Tilesh Patel

Fellow of the Institute of Chartered Accountants in England and Wales

THE SME CLINIC 7 Stratford Place London W1C 1AY

Date:

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Dutch Centre – Annual Report 2024

Statement of Financial Activities for the year ended 31 December 2024

2024 2024 2023
Notes Unrestricted
Funds		 Total Funds Total Funds
Gross Income in the
reporting period		 £64,881 £64,881 £68,756
Total Expenditure in the
reporting period		 £46,200 £46,200 £88,680
Tax Payable 4 -
-		 -
Net Income / (loss) for the
reporting period		 £18,681 £18,681 £(19,924)
Reconciliation of Funds:
Total Funds brought forward £16,962 £16,962 £36,886
Surplus / (Loss) for the reporting
period		 £18,681 £18,681 £(19,924)
Total Funds carried forward £35,643 £35,643 £16,962

Detailed analysis of income and expenditure is provided in pages 12 and 13 of these accounts.

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Dutch Centre – Annual Report 2024

INCOME & EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024

2024 2024 2023 2023
Funds Raised
Corporate donations £3,778 £0
Individual donations £9,326 £6,735
Grants £5,000 £0
Gift Aid £1,109 £0
Overhead Subsidy £0 £0
Total Funds Raised £19,213 £6,735
Income from Operations
Tickets Sold £6,592 £15,274
Bar take £3,030 £2,715
Event sponsorship £35,489 £37,415
Other Income £556 £6,617
£45,667 £62,021
Operations costs
Artists Fees -£6,728 -£12,310
Artists Travel -£3,227 -£1,908
ArtistsHotel&Food -£400 -£4,830
Facility Hire -£4,000 -£6,945
Equipment Hire £0 -£3,064
Allocated Personnel -£16,220 -£30,394
EventConsumables / Other -£3,241 -£8,934
-£33,816 -£68,385
Net Gain /(Loss)from Operations £11,852 -£6,364

Overheads
Freelance Overhead -£4,607 -£7,726
Web maintenance -£2,795 -£2,657
PR Materials & Printing -£679 -£4,046
Admin (incl Bank charges) -£1,498 -£2,107

Governance		 -£2,195 -£1,729
Total Overheads -£11,775 -£18,265
Misc. Expenditure
Facilities Capex £0 -£471

Charitable Donations		 £0 -£142
Bad Debt Provision £0 £0
Other -£609 -£1,417
Total Misc. Expenditure -£609 -£2,030
Interest/Dividend Income £0 £0
Contingency

Net Surplus /(Loss)		 £18,681 -£19,924

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Dutch Centre – Annual Report 2024

Notes to the Income & Expenditure Account

The Dutch Centre incurred an operating surplus of £18.7k for the year. The major factors which have contributed to this result are as follows.

The charity does not employ staff. All activities are carried out by volunteers or people on a freelance basis.

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Dutch Centre – Draft Unaudited Financial Statements 2024

BALANCE SHEET AS AT 31 DECEMBER 2024

Balance Sheet Balance Sheet Balance Sheet Balance Sheet Balance Sheet Balance Sheet Balance Sheet Balance Sheet
Notes Assets Notes Liabilities
31/12/2024 31/12/2023 31/12/2023 31/12/2024 31/12/2023
Current Assets Current Liabilities
NatWest £46,513 £30,297 7 Creditors £2,403 03
£12,360
Paypal £596 £0 8 Funds Raised in Advance Funds Raised in Advance
£10,222		 £10,222
£0
Petty Cash £319 £341 9 Advance Income
received		 £0 £0
£7,812
5 Total Cash £47,428 £30,639
Debtors £840 £6,496
Prepayments £0 £0
6 Total Debtors £840 £6,496
- ~~—_~~ ~~—_~~
- Total Current
Assets		 £48,268 £37,135
~~—_~~
~~—_~~		 Total current liabilities £12,625 £12,625
£20,172
- ~~—_~~ ~~—_~~
- ~~—_~~ ~~—_~~
10 Unrestricted Funds
Designated Reserves £0 £0
£0
Designated Reserves
Unrestricted Funds
Reserves b/forward £16,962 2
£30,761
Transfer from Designated
Reserves		 Transfer from Designated
£0		 £0
£6,125
Gain/Loss currentyear £18,681 1
-£19,924
Reserves c/forward £35,643 £35,643
£16,962
Total Unrestricted
Funds		 £35,643 3
£16,962
Total Assets £48,268 £37,135 Total Liabilities £48,268 £48,268
£37,135

The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and comply with the charity’s governing document, the Charities Act 2011 and with the Financial Reporting Standard applicable to the UK and Republic of Ireland (FRS 102) (effective 1 January 2016) - (Charities SORP (FRS102)) and the Companies Act 2006.

For the 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 obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

Signed on behalf of the charity’s trustees / directors

Chairman and Member

Anton Valk Date 10/09/2025

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Dutch Centre – Draft Unaudited Financial Statements 2024

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1. Accounting Policies

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.

(a) 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 (FRS 102) (effective 1 January 2016) - (Charities SORP (FRS102)) and the Companies Act 2006.

(b) Fund Accounting

(c) Income

(d) Expenditure

(e) Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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Dutch Centre – Draft Unaudited Financial Statements 2024

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

2. Going Concern

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 trustees consider that the reserves are sufficient to maintain viability for the foreseeable future.

3. Trustees Remuneration and Related Party Transactions

No trustees received any remuneration during the year (2023: Nil). The current Chair is based in the Netherlands and trustees agreed to reimburse travel costs up to a designated limit for each trip necessarily incurred in pursuit of his duties. The total amount reimbursed was £1,200 (2023: £600).

No trustee had any personal interest in any contract or transaction entered into by the charity during

the year (2023: Nil).

The charity does not employ any staff. All activities are carried out by volunteers or people contracted on a freelance basis.

4. Taxation

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 to collect proceeds from ticket sales. The amounts collected are periodically transferred to the main operating current account held with NatWest Bank.

6. Debtors

Debtors represent ticket sales income received in advance for future events and donations and sponsorship income pledged but not received as at 31 December 2024.

7. Creditors

Creditors represent costs incurred but not settled prior to 31 December 2024.

8. Funds Raised in Advance

Effective 1 January 2024, income received from multi-year sponsorship agreements and grants are amortised over the period of the agreements. Income received in 2024 but relating to future years amounted to £10,222 (2023: Nil).

9. Advance Income Received

Sponsorship income for postponed events, less any costs incurred, is treated as ‘Advance Income Received’ and deferred to the accounting period when the events are held and when any additional income and costs will be accounted for. There was no sponsorship income received in advance in 2024 (2023: £7,812)

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Dutch Centre – Draft Unaudited Financial Statements 2024

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

10. Unrestricted Funds

The Dutch Centre incurred a surplus of £18.7k for the year ended 31 December 2024 and has increased the charity’s unrestricted funds to £35.6k.

Unrestricted Funds brought forward
Transfer from designated reserves
Surplus / (loss) for the year
Unrestricted Funds carried forward
Designated Reserves brought forward
Transfer to unrestricted funds
Designated Reserves carried forward
Total Unrestricted Funds as at 31 December		 2024
£ 16,962
£ Nil
£ 18,681
£ 35,643
£ Nil
£ Nil
£ Nil
£35,643		 2023
£ 30,761
£ 6,125
£(19,924)

£ 16,962
£ 6,125
£(6,125)
£ Nil
£16,962

The Designated Reserve was established to receive funds from Nederlandse City Lunches upon its integration with Dutch Centre activities in 2022. A number of events under the NCL banner have been held since, all of which booked losses, and the board considers the initial reserve of £6,125 to have been fully utilised and can be transferred to our general reserve.

The trustees have resolved to maintain unrestricted reserves at a minimum of £30k.

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