THE WEMBLEY TO SOWETO FOUNDATION
FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
Charity Registration No. 1156984
THE WEMBLEY TO SOWETO FOUNDATION Legal and Administrative Information
Trustees
John Phillips Dame Janet Suzman David Magliano
Charity No. 1156984
Registered Address
18 Clifton Hill Brighton BN1 3HQ
Independent Examiners
Moore Kingston Smith LLP Chartered Accountants Betchworth House 57-65 Station Road Redhill Surrey RH1 1DL
www.mooreks.co.uk
THE WEMBLEY TO SOWETO FOUNDATION
| CONTENTS | PAGE |
|---|---|
| Report of the Directors and Trustees | 1-3 |
| Independent Examiners Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7-9 |
THE WEMBLEY TO SOWETO FOUNDATION Trustees' Report For the Year Ended 29 February 2024
The Trustees present their Annual Report, together with the unaudited financial statements, for the year ended 29 February 2024.
Structure Governance and Management
The charity was registered on 8 May 2014 as a Charitable Incorporated Organisation.
The Charity is governed by its constitution. There are three Trustees and a CEO. During the period, the Trustees have individually met with the CEO on a number of occasions to discuss strategies for the charity.
The Trustees were chosen by their different knowledge and expertise. The CEO who is also the promoter of the charity invited the Trustees to take up their appointment and they agreed to do so.
Objectives and Activities
The objects and activities of the charity, as fully described in its constitution are:
(1) For the public benefit to advance education in the UK and internationally by:
(a) The provision of training to persons who are in need by reason of age, ill health, disability, financial hardship or other disadvantage, in photography and other visual media and communication skills, in order to better enable such persons to express themselves and improve their quality of life and thereby also raise public awareness of the issues and experiences they encounter; and
(b) Supporting and advising other charities, groups and organisations carrying out development projects in the use of photography and other visual media to advance the education of and/or to relieve poverty or other hardship suffered by such persons.
(2) To advance in life and help young people through:
(a) The provision of recreational activities provided in the interest of social welfare, designed to improve their conditions of life; and
(b) Providing support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals.
Achievements and Performance during the year
During the year the charity continued its long-standing partnerships and worked on extensive projects with The British Council, The Qatar Foundation and Street Child United.
This included exhibitions, courses and preparation for courses to take place later in 2024 – notably at the European Football Championships in Germany. All these organisations afforded the charity significant help in-kind. The charity continued its teaching work with refugees from Guatamala, Nicaragua, Honduras, Ethiopia, Iraq, and Albania now seeking refuge in friendly countries. The W2S documentary feature film continued its development, with Alleycats Films as a co-producer. The charity continued its long-term partnership with Leica, who continued to provide funding and cameras. This collaboration resulted in further courses teaching historically disadvantaged young people from South Central and East Los Angeles. Also supporting were Participant Media, Getty, LA Galaxy, Los Feliz Films, Carnival Films and From The Streets To The Set. The project was hugely successful and garnered significant media coverage. Students from the inaugural project in 2022 have now progressed to training and teaching with W2S as well as gaining paid employment with various US companies and institutions. With Maiden Factor, W2S continued to help teach disadvantaged girls from across the globe using the yacht “Maiden” as a travelling teaching space. Two of our former students were confirmed as the official photographers of the project, and a further two were selected as ambassadors for the project along with worldwide celebrities Whoopi Goldberg and Jamie-Lee Curtis.
Page One
THE WEMBLEY TO SOWETO FOUNDATION Trustees' Report (continued) For the Year Ended 29 February 2024
Outlook for the coming year and future plans
Upcoming plans include courses run through various sporting events and organisations, including:
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A project in September/October 2024 project to train young people in the San Francisco and Chicago Projects using students from former course in the UK and LA as teachers. Leica will fund these projects and donate cameras. An extensive PR campaign is envisaged to keep the charity in the public eye. The results of the LA (and indeed former global) projects are set to form a part of the IMEX conventions in Frankfurt and Las Vegas 2024.
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An exhibition at BAFTA and a further exhibition at Leica LA exhibiting the work produced in the 2024 LA, San Francisco and Chicago projects.
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Further courses in Honduras, Colombia and Washington DC in collaboration with the World Bank;
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Continue film project charting UK students as teachers working with their US counterparts;
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Courses with Street Child United at Euro 24 and FIFA World Cup 2026;
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Continue to work with Sussex-based charities on various outreach projects on The South Coast;
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Large-scale exhibitions in Frankfurt, Brighton, Las Vegas and Washington DC;
Former students continue to gain paid employment, return to full-time education or work with W2S on projects around the globe. Combining all three opportunities, several former students have been offered employment on a series of feature films including “Great Son of Africa” (South Africa), “Music, Love and War” (Northern Ireland) and “The Bump” (UK). Two former students had the opportunity of running the film and photographic PR campaign for Academy Award nominated Stockard
As an overview of the year the charity is hugely influential in:
(a) The provision of training to persons who are in need by reason of age, ill health, disability, financial hardship or other disadvantage, in photography and other visual media and communication skills, in order to better enable such persons to express themselves and improve their quality of life and thereby also raise public awareness of the issues and experiences they encounter; and
(b) Supporting and advising other charities, groups and organisations carrying out development projects in the use of photography and other visual media to advance the education of and/or to relieve poverty or other hardship suffered by such persons.
(c) The provision of recreational activities provided in the interest of social welfare, designed to improve their conditions of life; and
(d) Providing support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals.
The charity through its promotion, publicity and events has attracted prominent global donors who provide continued support.
Financial Review and Reserves Policy
It is the Trustees’ aim to maintain unrestricted funds, which will be the free reserves of the charity, at a level which exceeds approximately six months unrestricted expenditure.
Trustees
The following Trustees have served during the period: John Phillips Dame Janet Suzman David Magliano
Legal and Administrative Information
The charity is registered as a CIO by the Charity Commission, number 1156984.
Page Two
THE WEMBLEY TO SOWETO FOUNDATION Trustees, Report (contlnued) .For the Year Ended 29 February 2024 k M•n•9•m•nt Athough lh8 charity v)ntinuos to Inueaso Its Incomè,11 l• •lJll partlally foll•nt on g•norou• lo•n•. Tho ntInUed flsk to the dnty Is ptssslbly belng ur) to rn150 adequalo lund• In futuro. Th18 rl$k l• bolng maniged by tho o)n•tsnt endeavour to sts1•M• of th• Th•t••s' R••pon•lblllll•• Tho T1885 8rB rnspcs1l• for preparfng lh8 Trustees, Report and tho fln8ndal gtstwn•nts In •ecoTdanco appIlblo law Llnited KJn9dom Aco)uniing Stsndards (Unlled iangdom Gen8r81ty Acc•pted Accountlng PraG11). Th• law appkble to tharluos In EThJland & W8188 requlroi tho Trusle•s to prop8r• finandal •tstem•nts for 88th flnanckl pwiod a truo and fBlr vlew of stale ol the aff8lr6 of Iho th8rfty and of the IrKomlng rosources 8nd applkatlon ol fwf¢•s ol Ihe Iur that pwlod. In proparfng theso llnandd atsrnMts. ts Tntsieos are requlred 10: sdecl wlt8blo acoxmttrffj pollclgs Ihen appty Ihgm con818t•nty, obseNe the methods and ndp195 In Ihe Charlltes SORP. rnakofvd9wThts and o8tlmats8 tst are rna¥onablg arKI PTud8nC' slate %tslher appll¢able UK Accoljn9 Stsndafds have been folIDvd, ub b ary m•terf81 departsjres disdosed and oxplalned In Ihe flnarbclal statements; and prnpare fmancial slfitemgnts on Iho golrvJ conmm bulj unlo88 It Is Inapmlat• to pr85um• Ihat tho wrtlnue In opwalion. Th• TnJsto•s •r• for k8eplw prOr accounilng rocoth hlth dls¢lose lth rnasonable accuracy a18ny Ilm8 the financlal posluon of the tharlty arKI en8ble Ihem to ensure that the flnanclal statsments compty wllh tha Charitles Act 2011. the Charfty (A¢Unts and Roport51 Rtyulallon8 2W8 and the provlslon8 01 lh• Trust deeds. They are also reswi&ble for safeguardlng the assets of the dwlty end hence for t8klrg reasonab stops for the pr•v•nUon and dot•ctlon of fraud and cth•r1rn9uladlleo. St•t•m•nt ol dl•clo•ui• to Ind•pnd•nt Ex•mln•rn faf u the Tn •r• awarn: th• Trustees twe tsk•n au •tepJ thal Ih•y ought lo havo to mako them•3 awar• of any rnjwant In1Ml and to •tsbllsh that Iho Indop•ndt EyAnknr18 awarn ol that Informouo By Ord•rof Bowd I I"1 ' 18 Cmfton Hlll Brlghlon BN13HQ TnJ•t•• D. o¥0112t I
THE WEMBLEY TO SOWETO FOUNDATION Independent Examiner's Report to the Members of The Wembley to Soweto Foundation
I report on the accounts of The Wembley to Soweto Foundation for the year ended 29 February 2024, which comprise the Statement of Financial Activities, Balance Sheet and related notes.
Responsibilities and basis of report
As the charity trustees of the Trust, 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 Trust’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.
Independent examiner’s statement
Your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I a member of the ICAEW, which is one of the listed bodies.
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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1) accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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2) the accounts do not accord with those records; or
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3) the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Betchworth House 57-65 Station Road Redhill Surrey RH1 1DL
Paul E M Samrah On behalf of Moore Kingston Smith LLP Chartered Accountants
Date: 2 July 2024
THE WEMBLEY TO SOWETO FOUNDATION Statement of Financial Activities For the Year Ended 29 February 2024
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| Note | Funds | Funds | |
| 2024 | 2023 | ||
| £ | £ | ||
| INCOME AND ENDOWMENTS | |||
| Charitable Activities | 2 | 94,247 | 181,217 |
| Total Operating Income | 94,247 | 181,217 | |
| EXPENDITURE | |||
| Charitable Activities | 3 | 97,260 | 167,313 |
| Total Operating Expenditure | 97,260 | 167,313 | |
| Net Operating (Expenditure)/Income | (3,013) | 13,904 | |
| Net Movement in Funds | (3,013) | 13,904 | |
| Total Funds Brought Forward | 1,480 | (12,424) | |
| Total Funds Carried Forward | (1,533) | 1,480 |
The statement of financial activities includes all gains and losses recognised in the year and all income and expenditure derives from continuing activities.
Page Five
THE WEMBLEY TO SOWETO FOUNDATION Balance Sheet at 29 February 2024 2024 2Q23 Curnnt A•s•ts Cth Jt bwik oftd In hand 12.524 Crndkn" Amounts f•lllng du• vAthln on• y••r (UoblllU••yAM•ts and slgned on Its behDN ty.. TN•ts• - D. M•gll•no P•g• SIX
THE WEMBLEY TO SOWETO FOUNDATION Notes to the Financial Statements For the Year Ended 29 February 2024
1. Accounting Policies
(a) Accounting basis and standards
The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The charity is a public benefit entity for the
purposes of FRS 102 and a registered charity established as a company limited by guarantee and therefore has also prepared its financial statements in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (The FRS 102 Charities SORP) and the Charities Act 2011.
The accounts (financial statements) have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
(b) Going Concern
The Trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions, that might cast significant doubt on the ability of the charity to continue as a going concern. The Trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the Trustees have considered the charity's forecasts and projections and have taken account of pressures on income. After making enquiries, the Trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The Trustees are hopeful of escalating funding in the next year so that the charity can be self-sufficient and achieve a surplus in reserves. The charity therefore continues to adopt the going concern basis in preparing its financial statements.
(c) Income
All income is recognised when there is an entitlement to the funds, the receipt is probable and the amount can be measured reliably.
(d) Gifts in kind
Gifts in kind are recognised within incoming resources and expenditure at an estimate of the value to the charity of the donated services or goods. Where possible the value of services/goods are confirmed directly with the supplier however in some instances this information is not available and a best estimate is made of the expected cost of such goods based on what the charity would be willing to pay for similar services or goods at a market rate.
(e) Resources expended
Expenditure is included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT which cannot be recovered. 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 benefit will be required in settlement and the amount of the obligation can be measured reliably.
Governance costs comprise the cost of running the charity, including external accountancy, Trustees' legal advice and constitutional and statutory compliance costs. These have been included in support costs.
(f) Stock
Stock is valued at the lower of cost and net realisable value.
(g) Fund Accounting
Funds held by the Charity are either:
Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the Trustees.
Restricted funds - these are funds that can only be used for particular restricted purposes within the objects of the Charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Page Seven
THE WEMBLEY TO SOWETO FOUNDATION Notes to the Financial Statements (continued) For the Year Ended 29 February 2024
1. Accounting Policies (Contd)
(h) Critical Accounting Estimates and Areas of Judgement
In the view of the Trustees in applying the accounting policies adopted, no judgements were required that have made a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk or material adjustment in the next financial year.
(i) Cash Flow Statement
The Charity has taken the exemption available in paragraph 7.1B of FRS 102 and has not prepared a cash flow statement.
Financial Instruments
(j) Cash and cash equivalents
Cash and cash equivalents include cash at bank and in hand and short term deposits with a maturity date of three months or less.
(k) Debtors and creditors
Debtors and creditors receivable or payable within one year of the reporting date are carried at their transaction price.
2. Income
| Income Project income Donations Donated exhibition space Donated photography equipment Donated travel and accommodation |
2024 2023 £ £ - 24,526 9,220 50,617 3,281 - 78,986 98,292 2,760 7,782 94,247 181,217 |
|---|---|
Included in the gifts in kind is £70,566 received from Lecia, £8,420 from LA Photography Teachers and £6,041 from Carnival Films.
3. Expenditure
| Expenditure directly allocated to activities Project travel and accommodation Other Support costs allocated to activities Independent Examiner's fees Storage rental Insurance costs Website costs |
Direct Costs £ 4,378 86,042 - - - - 90,420 |
Support Total Costs 2024 £ £ - 4,378 - 86,042 990 990 1,120 1,120 230 230 4,500 4,500 6,840 97,260 |
|---|---|---|
Page Eight
THE WEMBLEY TO SOWETO FOUNDATION Notes to the Financial Statements (continued) For the Year Ended 29 February 2024
3. Expenditure (Contd)
| Expenditure directly allocated to activities Project travel and accommodation Support costs allocated to activities Independent Examiner's fees Storage rental |
Direct Costs £ 129,292 36,399 - - 165,691 |
Support Costs £ - - 502 1,120 1,622 |
Total 2023 £ 129,292 36,399 502 1,120 |
|---|---|---|---|
| 167,313 |
Included within support costs are governance costs of £1,200 (2023: £502).
All expenditure on charitable activities was unrestricted.
4. Employee Information
There were no employees during the year.
5. Trustees and Key Management Personnel
Key management personnel include the Trustees of the Charity and the CEO.
The Trustees received no remuneration or benefits in kind from the Charity. No Trustees were reimbursed expenses during the period.
6. Taxation
The Charity is not liable to Corporation Tax as the income is of an exempt nature.
7. Creditors: Amounts falling due within one year
| Creditors: Amounts falling due within one year Accruals Other creditors Directors current account |
2024 2023 £ £ 390 600 1,224 1,224 12,443 - 14,057 1,824 |
|---|---|
All creditors are financial instruments and are measured at present value.
8. Movement in Funds
| Movement in Funds | ||||||
|---|---|---|---|---|---|---|
| Unrestricted funds - general | 1 March 2023 £ 1,480 |
Incoming £ 94,247 |
Outgoing £ (97,260) |
29 | February 2024 | |
£ (1,533) |
9. Related Party Transactions
Included within creditors at the Balance Sheet date is £12,443 (2023: £nil) owed to the CEO.
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