**Charity registration number 1163990**
## **RONNIE SCOTTS CHARITABLE FOUNDATION**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2024**
## **RONNIE SCOTTS CHARITABLE FOUNDATION**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
S Greene S Coyne F Nash A Mackenzie (Appointed 14 March 2024)
## **Trustees**
**Charity number** 1163990 **Independent examiner** Gerald Edelman LLP 73 Cornhill London EC3V 3QQ
## **RONNIE SCOTTS CHARITABLE FOUNDATION**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 2|
|Independent examiner's report|3|
|Statement of financial activities|4|
|Balance sheet|5|
|Notes to the accounts|6 - 8|
## **RONNIE SCOTTS CHARITABLE FOUNDATION**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
The Trustees present their report and accounts for the year ended 31 March 2024.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Foundation's governing document, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016)
## **Objectives and activities**
The Foundation's objects are to advance education through the promotion, support and encouragement of the art of music and in particular the promotion, encouragement and support of musical education programmes to ensure that music education is accessible to every child and young person especially those who are under privileged, and to advance such charitable purposes (according to the law of England and Wales) as the Trustees see fit from time to time in particular but not limited to raising and distributing funds (and providing loans) and gifting musical instruments to organisations that create or develop youth jazz programmes and make jazz music.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Foundation should undertake.
## Grantmaking:
The Foundation invites applications for grants through advertising on Ronnie Scott's website and applications should be made to the email address foundation@ronniescotts.co.uk.
Each application is reviewed by the Trustees against the objectives of the Foundation. Through its grantmaking activities, the Foundation furthers its objects and provides public benefit.
## **Achievements and performance**
The Trustees report that grants made and costs of charitable events incurred totalled £10,118 during the year (2023: £38,105).
Although grants made and costs of charitable events were lower than the prior year, significant activity has been undertaken so grants made in the next financial year are returning to pre COVID-19 levels.
## **Financial review**
It is the policy of the Foundation that unrestricted funds which have not been designated for a specific use should be maintained at a level in excess of between three and six month’s expenditure. The Trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Foundation’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
## **Investment policy and objectives**
Under the Trust deed, the charity has the power to make any investment which the Trustees see fit.
The Trustees has assessed the major risks to which the Foundation is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
The Trustees will continue to seek out and assist beneficiaries including those to whom the charity has already made grants.
## **Structure, governance and management**
The Charitable Trust was registered as a charity on 15 October 2015. The Foundation is administered by the Trustees in accordance with its Trust document. Nothing in this Trust deed restricts or excludes the exercise by the Trustees of the powers given by the Trustee Act 2000 as regards to the investment, the acquisition or disposal of land and the employment of agents, nominees and custodians.
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RONNIE scorrs CHARITABLE FOUNDATION
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
The Trustses who 88md during the yew up to the date of Signatu of Ihe firwi(aal ststemenls were:
S Gwn8
S Coyne
D Baptiste
F Nash
A Mackenz
IRe*ned 14 March 2024)
(Appointed 14 March 2024)
Every Trustee must be appointed for a tsm of fve years by a resolutN)n of tha Trustees passed at a spocial meeting.
In selecting individuals for 8ppointmenl as Trustees. thg Tnjslees must havo rggard to lh6 sknN$. knowledge and
oxperi&nc8 needed the 8ffeth.ve administrdtK)n of the Foundotk)n.
Inductlon and tralnlng of n•w Tru•t•M:
In vlew of the slze of the charity rt is not considered necessary for the Trustee8 to undergo fom81 tralnlng.
Th6 finanryal Statements compty wlth crt statutory rwuinn8nts and the Slatem8nl of Racommonded Pr8ctlce -
AccounJng and Reportyng by Chantios. The Trustees consult on an ad basis to revièw arKI 8$sess requests for
donatr)rss from the Foundatyon and pmilontial QppurtM to in¢yoa8e fits avgikqble.
Th8 Truslags hav8 eonducted thelr cmn rnvlow of Ma)r 8trateg. buslnoss and opgration81 ri8k$ to which tho
Foundation Is axposed and c•)nfim)ed that 8ystsms have bèen eslablished lo enable ragular reports lo ba producad
so that n8c•ss8ry Stops can b• lakan to mlllgal8 those risks.
None of t TnJ818e8 h88 any beneffiaal Interest in the FoOI)n.
St•tem•nt of Tru8t•••' r••ponJlblllti
The Trustee$ are respSIble for preparfng Truste88' Rewt ar¥J the in ac¢ordance appllcable law
and Unlted Klngdom Accounlro Slandards (Unrted Kingdom Gen8ralty Accepted Aceounllng Pr8ctic61.
Th• law apIcable lo chadoes in En¥ond and Wales r•qulres Trttstees to yeparè accounts for each fln8nctal
parlod which give a true and fair view of the slate of affaSTS ol the FrKlaU and of the Incomlng r080ure48 and
applicabon of resources of the Found8tton for Ihal year.
In prnparing these accounts, thè Trusle88 are roqulred to:
- 8018d sultsble accountSng polic*8 and thgn apply them c$151¢n,
- ob80rve thè methods and w'nciples in the charit SOR
- make judggmonts and estim8t88 that are reasonable arKI Fffudent,.
- state whether applicable a¢countirvJ standards have been follvwed. subject to any Materi departures dlsclosed
and explalned in the accounts., and
- prepare th8 accounts on thg wing concem basis unless it Is inappropriate to wesum8 that the Foundation wlll
contlnue In op8ratM)n.
Thè Trustees are reSFOnslb for keeplng suffldenl accounuw rets)rds that disclose wrth roa80nable accuracy at any
time the finanoal px)sition of the FouThJation and 6nablg lo ensure that the ac£ounts compty w(th the Charities
Act 2011, the Charity (Accounts and Rep$) Regulations 2008 and the prowsions of the trust deed. They arè also
responsible for safeguarding tha 888ets of the Foundation and hence for taking reasonable steps for the prevanuon
and detectlon of fraud and other reglitIes.
Truslegs,
rt Was appThed by the Boawd (rf Trustee&
F Nash
Tru51e8
## **RONNIE SCOTTS CHARITABLE FOUNDATION**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF RONNIE SCOTTS CHARITABLE FOUNDATION**
I report to the Trustees on my examination of the financial statements of Ronnie Scotts Charitable Foundation (the Foundation) for the year ended 31 March 2024.
## **Responsibilities and basis of report**
As the Trustees of the Foundation you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the Foundation’s accounts carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Your attention is drawn to the fact that the Foundation has prepared accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for accounts to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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 that in any material respect:
- 1 accounting records were not kept in respect of the Foundation as required by section 130 of the 2011 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements 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 financial statements to be reached.
## **Howard Woolf FCA**
Gerald Edelman LLP Chartered Accountants 73 Cornhill London EC3V 3QQ Dated: .........................
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|**Notes**
**Income from:**
Donations and legacies
**2**
**Expenditure on:**
Raising funds
**3**
Charitable activities
**4**
Other
**Total resources expended**
**Net income for the period/**
**Net movement in funds**
Fund balances at 1 April 2023
**Fund balances at 31 March 2024**
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.|**2024**
**£**
52,996
216
10,118
269
10,603
42,393
128,335
170,728|
|---|---|
RONNIE SCOTTS CHARITABLE FOUNDATION
BALANCE SHEET
ASAT31 MARCH 2024
2024
2023
Notes
Currnnt assots
Cash at bank and in hand
170,728
128,335
Net ¢urrent assets
170.728
128,335
The funds of the Foundation
Unrestricied funds
170,728
128,335
170,728
128,335
The financial statements were approved by the Tnle8S on .......... .......... ...
F Nash
Trustee
## **RONNIE SCOTTS CHARITABLE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **1 Accounting policies**
## **Charity information**
Ronnie Scotts Charitable Foundation is a registered charity dedicated to the support of jazz education in the United Kingdom and beyond.
## **1.1 Accounting convention**
The accounts have been prepared in accordance with the Foundation's declaration of trust, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016). The Foundation is a Public Benefit Entity as defined by FRS 102.
The Foundation has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements 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 the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the Foundation. Monetary amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared under the historical cost convention. As the unincorporated Foundation has gross income of less than £250,000 during the financial period, the accounts only present a summary of all money received and paid out by the Charity in the period. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the accounts, the Trustees have a reasonable expectation that the Foundation has adequate resources to continue in operational existence for the foreseeable future, Thus the Trustees continue to adopt the going concern basis of accounting in preparing the accounts.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts, where applicable.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Foundation.
## **1.4 Incoming resources**
Income is recognised by the Foundation on a receipts basis.
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## **RONNIE SCOTTS CHARITABLE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **1 Accounting policies**
## **(Continued)**
## **1.5 Resources expended**
Resources expended are included in the Statement of Financial Activities and are recognised in the period in which they are incurred.
Governance costs include those incurred in the governance of the Foundation and its assets and are primarily associated with constitutional and statutory requirements.
The support costs associated with grant making activities was £nil (2023: £4,270)
## **1.6 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## _**Basic financial assets**_
Basic financial assets, which includes cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## **2 Income from donations and legacies**
||||**Unrestricted**||**Unrestricted**|
|---|---|---|---|---|---|
||||**funds**||**funds**|
||||**2024**||**2023**|
||||**£**||**£**|
||Donations and gifts||52,996||104,465|
|**3**|**Raising funds**|||||
||||**Unrestricted**||Total|
||||**funds**|||
||||**2024**||2023|
|||||**£**|£|
||Fundraising and publicity|||||
||Fundraising agents||216||216|
||Cost of charitable events|||-|4,270|
||||216||4,486|
|||||||
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## **RONNIE SCOTTS CHARITABLE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **4 Charitable activities**
||**2024**|**2023**|
|---|---|---|
||**£**|**£**|
|Grants and participation events|10,118|33,835|
## **5 Trustees**
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Foundation during the year.
## **6 Employees**
There were no employees during the period.
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