2024-12-31-accounts

Charity registration number: 1157115

Afro-Brazilian Arts & Cultural Exchange Institute

Annual Report and Financial Statements for the Year Ended 31 December 2024

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-We have celebrated the 15 years of the organisation during the annual Capoeira Batizado/Festival in May 2024 at our base in Elephant and Castle, with adults and children attending master classes. We have brought many great capoeiristas from Brazil as well as Capoeira masters from Europe, who have over the 15 years, supported our school's development.

-The event was a great success and welcomed over 150 people, who observed (public) the event and 60 people who were directly involved, participating in the event (members and students).

-The masters and members of the school have shown resilience, determination, and consistency, maintaining the school in perfect condition, continuing to deliver high quality services to the public.

-The Afro-Brazilian Arts & Cultural Exchange Institute continues to offer a safe, friendly, and engaging centre for movement and creativity, promoting respect, discipline and a healthy lifestyle through the practice of Capoeira and similar arts forms.

• We delivered 2 projects for disadvantaged children and young people at risk of social exclusion, one in London and another one in Essex.

These projects have benefited a total of 90 children and young people, ages 5 to 19.

Achievements and performance

The ABACEI is committed to caring for and safeguarding the well-being of the adults and young people. We have specific policies in place to help us to do this which we have followed in our work this year.

The introduction to Capoeira sessions available to the beginner student, presents the basic elements of the art form Capoeira and tells a little of its colonial history and development. These sessions include some words of Brazilian Portuguese and modern cultural information of different Brazil art forms. Capoeira skills at their highest level are demonstrated, which are inspirational and exciting for those wishing to learn - the young and the old.

The Future

We would like to continue running projects created for the benefit of the most disadvantaged members of the community in London, Sussex and Essex,for the benefit of the public.

During the financial year ending 31 March 2024, the charity had £22580 income and £18800 expenses, resulting in a surplus of £2630. As of 31 December 2024, Charity had £5400 cash at bank and in hand. The management committee has examined charity's requirements for reserves in light of the risks to the Trust. It has established a policy whereby unrestricted funds, not committed, held by the Charity should be between one and two months of expenditure.

Responsibilities of the Management Committee Company law requires the Management Committee to prepare financial statements 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 incoming resources and application of resources, including income and expenditure, for the financial year. In preparing those financial statements, the management committee should follow best practice and:

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• select suitable accounting policies and then apply them consistently;

• make judgements and estimates that are reasonable and prudent; and

• prepare the financial statements on the going concern basis unless it is not appropriate to assume that the company will continue on that basis.

The Management Committee is responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements are compliant. The Management Committee 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 Management Committee Members of the Management Committee, who are directors for the purpose of company law and trustees for the purpose of charity law

Statement of Trustees' Responsibilities

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

The charity commission requires the trustees to prepare financial statements for each financial year. Under charity law the trustees must not approve the financial. statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standard.<; have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern. basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the charity commission. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions

Statement of Financial Activities for the Year Ended 31 December 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and

Losses).

Approved by the trustees of the charity on 31st December 2024 signed on its behalf

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by:
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Jefferson Oliveira- Chair

Directors' responsibilities:

• The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and

• The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance ·with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees, and authorised for issue on

31 December 2024, signed on their behalf by:

· ················

Mr. Jefferson Oliveira

Chair

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with 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 20 I 5) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.

Basis of preparation

The ABACEI 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 notes.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

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Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs

These include the costs attributable to the charity's compliance with constitutional and statutory requirements, including audit, strategic management and trustees's meetings and reimbursed expenses.

Trustees remuneration and expenses

No trustees have received any reimbursed expenses or any other benefits from the charity during the year.

Taxation

The charity is a registered charity and is therefore exempt from taxation.

ABACEI

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME & EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 December 2024.

	Unrestricted Funds	Restricted Funds	Restricted Funds	Total Funds 2024	Total Funds 2024
	£	£		£
Incoming resources
Incoming resources from generated funds:
Voluntary income	-		-	-	-
Donations and sponsorships	5,000		-	5,000	5,000
Activities for generating funds:	-		-	-
Investment income	-		-	-
Incoming resources from charitable activities
Grants receivable	17,580		-	- 17,580	- 17,580
Total incoming resources 22,580	22,580 -	-	- 22,580	- 22,580
Resources expended
Charitable activities	18,800		-	18,800
Governance costs	1,150		-	1,150
Total resources expended	19,950	19,950	19,950 -
19,950
Net incoming resources before transfers 2,630	Net incoming resources before transfers 2,630		- 2,630	2,630	2,630
Reconciliation of funds
Total funds brought forward	-		-		-
Transfer between reserves
Total funds carried forward	2,630		-		2,630

The statement of financial activities includes all gains and losses in the financial year 2024. All incoming resources and resources expended derive from continuing activities.

Account revised and approved on the 6[th ] of January 2025 by:

Jefferson Bispo de Oliveira

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-Chair
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Laura Ayuso
Secretary
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Karen Welton

Treasurer