Charity number: 1167421 THE JAZZ CENTRE (UK) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 VINTw/MS
THE JAZZ CENTRE (UK) CONTENTS Page Reference and administrative details of the Charity, its Trustees and advisers Trustees, report Independent examiner's report ststement of financial activities Balance sheet Notes to the financial statements 8-17
THE JAZZ CENTRE (UK) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2024 Trustees D Faiweather M R Fisher A Green P Richards G C Evans (resigned 31 August 2024) J P Wilson C P Sternshine (resigned 7 January 2024) Y Charfes (appointed 16 August 2024) K F Buck (appointed 16 August 20241 S Levrant (appointed 13 January 2024) Charity registered number 1167421 Principal office Beecroft Art Gallery Southend-on-sea Essex SS2 6EW Accountants Venthams Chartered Accountants Millhouse 32 - 38 East Street Rochford Essex SS41DB Page 1
THE JAZZ CENTRE (UK) TRUSTEES. REPORT FOR THE YEAR ENDED 30 JUNE 2024 The Trustees present their annual report together with the financial statements of the Charity for the 1 July 2023 to 30 June 2024. Objectives and activities a. Policies and objectives In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit. The object of the charity is to advance the arts for the public benefit by the promotion, preservation and celebration ofjazz music in all its forms for a diverse and growing community. b. Activities undertaken to achieve objectives The charity's activities include archival research and heritage preservation, weekly programmes of live music, jazz-related films, art exhibitions featuring locallnationallintemational artists and photographers, heritage celebration via its museum and walk-through history of jazz (1910-2020), fully-equipped perfomiance spaces, displays of jazz musicians, memorabilia, on-line personal study facilities, jazz workshops and master classes, lectures and discussion groups by visiting musicians, critics and authors, bibliographic library and research facility, leisure facilities, jazz record and bookshop. c. Main activities undertaken to further the Charity's purposes for the public benefit As stated in the trustees, report for the period to 30 June 2023, a notice was served on TJCUK {28 July 2022} by Southend on Sea City Council (SCC) to vacate its premises at the Beecroft Gallery by 1 August 2023. The trustees launched a campaign to reverse this decision which was pursued until the local elections of May 2023. These elections resulted in a change of leadership at SCC and as a result, the service of notice was overturned. After a period of negotiation, a 15 year lease was signed with SCC in February this year allowing TJCUK to continue to operate. The lease does require the payment of £5k per annum by TJCUK to SCC. This payment is subject to a mechanism to share surplus funds generated and fvture indexation. In spite of the considerable work involved in negotiating the lease, a full programme of activities was pursued for this reporting period, including weekly live music events as detailed below. Achievements and performance a. Live music at the Beecroft For the reporting period, 38 ticketed live music events were held at the Beecroft. Almost 2000 tickets were sold for these events, a significant increase on the previous year. The charity also hosted jazz promoter Susan May's 'Spikes Place" for e1ve events. Great efforts were made to ensure that jazz "in all its forms" was represented. Highlights of the programme included.. Across the Great Divide in March - a twenty ple ensemble exploring improvised music., The Simon Spillett Quartet in May., and The Man Bames and Mark Nightingale Quartet in July Two events were held, in September and April, for the benefit of the charity Softpower Education, when nearly o hundred tickets were sold. There were also film screenings and lectures on a range ofjazz topics. Page 2
THE JAZZ CENTRE (UK) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Achievements and performance (continued) b. Exhibition The history of jazz exhibition has been maintained for visitors to enjoy and elements of the NLHF funded project, 'Celebrating the 100 Club., bringing history to life,. remained in pla. c. Website & Social Media There were over 30,000 visits to the charity's website over the reporting period. The charity also has thousands of followers on social media. Social media data also suggests that we are connecting with people of all ages. The website mailing list has over 1200 subscribers. d. Volunteers The charity has worked hard to attract, train and retain a team of volunteers to make its operations deliverable. The pandemic did erode the volunteer support but the charity runs a continuous campaign to address this. The charity now have a core team of 23 volunteers, including its trustees. The aim is to be open whenever the gallery is open. The charity is constantly seeking more volunteers to make the team more diverse and resilient. Financial review . Going concern The Trustees have a reasonable expectation that the charity has adequate reSoUrS to continue in operational existence. The 15 year lease with SCC has provided security of tenure for the charity for an extended period. However, this has increased the charity's fixed costs by some £5k per annum. In order to meet this extra cost, ticket prices for the live music events have been increased. In spite of this, ticket sales are significantly higher this year than last. For this reason the charity continues to adopt the going conrn basis in preparing financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. structure, governance and management a. Constitution The charity was established as a Charitable Incorporated Organisation by a Constitution on 2 June 2016. b. Methods of appointment or election of Trustees The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Constitution. Organisational structure and decision-making policies Trustees are elected who have specialist skills including I and digital media, accountancy, musical outreach, fundraising, strategic and business planning, law and charitable research. The Trustees meet formally at least four times per year but additional ad hoc meetings are held as required. Page 3
THE JAZZ CENTRE (UK) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Plans for future periods For the reporting period, The Jazz Centre (UK) carried out its activities under Chairman (Gareth Evans) Secretary {Adrian Green) Treasurer (John Wilson) and Creative Director (Digby Fairweather). From 10 November 2024, Matthew Fisher has been appointed as chair. The trustees are actively engaged in finding ways forward for TJCUK taking account the new contractual relationship with SCC. In particular.. Reaching out to the jazz community to attract additional trustees to raise the profile of the charity nationally., Continuing to seek funding from Arts Council England; Developing strategies to increase revenue from events and sponsorship., and Enhancing the resilience and diversity of the trustee board and volunteer team. Statement of Trustees. responsibilities The Trustees are responsible for preparing the Trustees. Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which 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 then apply them consistentty., observe the methods and principles of the Charities SORP (FRS 102)., make judgments and accounting estimates that are reasonable and prudent" state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going conrn basis unless it is inappropriate to presume that the Charity 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 Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Constitution. They are also responsible for safeguarding the assets of the Charity and hen for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on their behalf by.. R Fisher Trustee Date: 18 November 2024 Page 4
THE JAZZ CENTRE (UK) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 JUNE 2024 Independent examiner's report to the Trustees of The Jazz Centre (UK) ('the Charity.) I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 30 June 2024. Responsibilities and basis of report As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 ACV). 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 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 Charity has prepared the accounts in accordance with Accounting and Reporting by Charities.. Statement of Recommended practi applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 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 been withdrawn. l understand that this has been done in order for the accounts to provide a true and fair view in accordan with the 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. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or the accounts do not accord with those records., or 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 fairf view which is not a matter considered as part of an independent examination. I have no COnrnS 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. Signed.. Stuart Harrison Dated: 19 November 2024 FCA Venthams Chartered Accountants Millhouse 32 - 38 East Street Rochford Essex SS4 1DB Page 5
THE JAZZ CENTRE (UK) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2024 Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies Charitable activities 1,575 30.663 778 1,859 30.663 778 7.093 14,147 Investments Total income 33,016 33,300 21,240 Expenditure on: Charitable activities 35,616 35,616 26,394 Total expenditure 35,616 35,616 26,394 Net movement in funds 284 (2.600) (2.316) (5, 154) Reconciliation of funds: Total funds brought forward Net movement in funds 6.878 49.305 12,600) 56.183 {2,316) 61,337 (5, 154) Total funds carried forward 7,162 46,705 53,867 56,183 Page 6
THE JAZZ CENTRE (UK) BALANCE SHEET FOR THE YEAR ENDED 30 JUNE 2024 2024 2023 Note Fixed assets Tangible assets 10 9,088 10,961 9.088 10,961 Current assets Cash at bank and in hand 45,480 45,822 45.480 45,822 Creditors.. amounts falling due thIn one year (702) (600) Net current assets 44,778 45,222 Total assets less current liabilities 53.866 56, 183 Total net assets 53,866 56,183 Charity funds Restricted funds 12 7.162 46,704 6,878 49,305 Unrestricted funds 12 Total funds 53.866 56,183 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. R Fisher Trustee Date: 18 November 2024 Page 7
THE JAZZ CENTRE (UK) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 General infomiation The principal activity of the charity continued to be to advance the arts by the promotion, preservation and celebration of jazz music in all its fomis. The charity is registered with the Charity Commission under charity number 1167421. Accounting policies 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordan with the Charities SORP {FRS 102) Accounting and Reporting by Charities.. Statement of Recommended practi 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 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102} and the Charities Act 2011. The 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 fairf view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practi effective from 1 April 2005 which has since been withdrawn. The Jazz Centre (UK) 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. 2.2 Going concern After making appropriate enquiries the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future, subject to the continued support of Southend City Council. For this reason they continue to adopt the going concern basis in preparing financial statements. 2.3 Income All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balan Sheet. Where income is reiVed in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is reived, the income is accrued. Page 8
THE JAZZ CENTRE (UK) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Accounting policies {continued) 2.4 Expenditure Expenditure is recognised On there is a legal or constructrve obligation to transfer economic benefit to a third paty, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity- Direct costs attributable to a single activity are allocated directly to that activity- Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned beeen those activities on a basis consistent with the use of reSoUrs. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. 2.5 Interest receivable Interest on funds held on deposit is included when re1vable and the amount can be measured reliably by the Charity,. this is nomially upon notification of the interest paid or payable by the institution with whom the funds are deposited. 2.6 Tangible fixed assets and depreciation Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initialty recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives. on a reducing balan basis. Depreciation is provided on the following bases: Fixtures and fittings Computer equipment 25Yo RedUd balan method 330/0 RedUd balan method 2.7 Cash at bank and in hand Cash at bank and in hand indudes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Page 9
THE JAZZ CENTRE (UK) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Accounting policies {continued) 2.8 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost. 2.9 Financial instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exptIOn of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.10 Fund accounting General funds are unrestricted funds vthich are available for use at the discretion of the Trustees in furtheran of the general objectives of the Charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordan with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. Income from donations and legacies Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Donations 1,575 1.859 6,190 903 Grants 1.575 1,859 7,093 Total 2023 903 6, 190 7, 093 Page 10
THE JAZZ CENTRE (UK) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Income from charitable activities Unrestricted funds 2024 Total funds 2024 Total funds 2023 Income from charitable activities - Presep4ation of Jazz Music 30.663 30,663 14,147 Total 2023 14, 147 14, 147 Investment income Unrestricted funds 2024 Total funds 2024 Total funds 2023 Investment income - local cash 778 778 Analysis of expenditure on charitable activities Summary by fund type Restricted Unrestricted funds funds 2024 2024 Total 2024 Total 2023 Preservation of Jazz Music 35,616 35.616 26,394 Total 2023 2. 705 23, 689 26, 394 Page11
THE JAZZ CENTRE (UK) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Analysis of expenditure by activities Activities undertaken directty 2024 Support costs 2024 Total funds 2024 Total funds 2023 Preservation of Jazz Music 32.680 2.936 35,616 26,394 Total 2023 22,461 3, 933 26, 394 Analysis of direct costs Preservatio n of Jazz Music 2024 Total funds 2024 Total funds 2023 Advertising Bank charges Equipment Insurance 2,396 35 693 2.396 35 693 3,616 19 43 751 751 731 Event expenses and volunteer sundries Postage and stationery Sundries 23,548 156 1,882 23.548 156 1.882 14,391 468 1, 660 420 489 Professional Fees Website 489 489 Internet Rent and service charge Governance costs 29 1,999 702 29 1.999 702 30 594 32,680 32,680 22,461 Total 2023 22,461 22,461 Analysis of support costs Page 12
THE JAZZ CENTRE (UK) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Analysis of expenditure by activities (continued) Analysis of support costs (continued) Total funds 2024 Total funds 2023 Depreciation 2,936 3.933 Independent examiner's remuneration The independent examiner's remuneration amounts to an independent examiner fee of £702 (2023 £600) Trustees, remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2023 - £NIL). During the year ended 30 June 2024, no Trustee expenses have been incurred (2023- £NIL). 10. Tangible fixed assets Fixtures and fittings Computer equipment Total Cost or valuation At 1 July 2023 Additions 27,797 9,060 1,063 36,857 1,063 At 30 June 2024 27,797 10,123 37,920 Depreciation At 1 July 2023 Charge for the year 18.545 2,314 7,351 622 25.896 2,936 At 30 June 2024 20.859 7,973 28.832 Net book value At 30 June 2024 6,938 2,150 9,088 At 30 June 2023 9,252 1, 709 10,961 Page 13
THE JAZZ CENTRE (UK) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 11. Creditors: Amounts falling due within one year 2024 2023 Accruals and deferred income 702 600 Page 14
THE JAZZ CENTRE (UK) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 12. Statement of funds Statement of funds - current year Balance at 30 June 2024 Balance at 1 Juty 2023 Income Expenditure Unrestricted funds General Fund 49.305 33.015 (35.616) 46.704 Restricted funds Heritage lottery grant fund Spike Robinson Scholarship fund 2.261 4,617 2,261 4,901 284 6,878 284 7,162 Total of funds 56,183 33,299 (35,616 53,866 Statement of funds - prior year Balance at 30 June 2023 Balan at 1 July 2022 Transfers in/out Income Expenditure Unrestricted funds General Fund 48,462 20,337 (23, 689) 4,195 49,305 Restricted funds Heritage lottery grant fund Spike Robinson Scholarship fund ROSCA fund 2,261 2,261 6,114 4, 500 903 (2, 400) (305) 4,617 (4, 195) 12,875 903 (2, 705) (4, 195) 6,878 Total of funds 61,337 21,240 (26, 394) 56,183 Page 15
THE JAZZ CENTRE (UK) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 13. Summary of funds Summary of funds - current year Balance at 30 June 2024 Balance at 1 Juty 2023 Income Expenditure General funds 49.305 6,878 33.015 284 (35.616) 46.704 7,162 Restricted funds 56,183 33,299 (35,616 53,866 Summary of funds - prior year Balance at 30 June 2023 Balance at 1 July 2022 Transfers in/out Income Expenditure General funds Restricted funds 48,462 12,875 20,337 903 (23, 689) (2, 705) 4,195 (4, 195) 49,305 6,878 61,337 21,240 (26, 394) 56, 183 14. Analysis of net assets between funds Analysis of net assets between funds - current period Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Tangible fixed assets Current assets 9,088 38,318 (702) 9,088 45.480 (702) 7,162 Creditors due within one year Total 7.162 46,704 53,866 Page 16
THE JAZZ CENTRE (UK) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 14. Analysis of net assets between funds (continued) Analysis of net assets between funds - prior period Restricted Unrestricted funds funds 2023 2023 Total funds 2023 Tangible fixed assets Current assets Creditors due within one year 10,961 38,944 (600) 10,961 45,822 (600) 6.878 Total 6,878 49,305 56,183 15. Operating lease commitments At 30 June 2024 the Charity had commitments to make future minimum lease payments under non- cancellable operating leases as follows.. 2024 2023 Not later than 1 year Later than 1 year and not later than 5 years Later than 5 years 5,000 20,000 45,000 70.000 16. Related party transactions During the year, R Michalski: a Trustee that resigned during the year, received £Nil (2022= £1,378) for services supplied. D Fairweather, a Trustee, received £Nil {2022.. £2,500) for services supplied. Charity Commission consent to pay these sums has been reived. During the year, donations of £Nil (2022= £1,500) were received from related parties. Page 17