REGISTERED COMPANY NUMBER: 08315897 (England and Wales) REGISTERED CHARITY NUMBER: 1167486
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 31st December 2020
for
Cimatheque Foundation
Spencer Hyde Limited 272 Regents Park Road London N3 3HN
Cimatheque Foundation
Contents of the Financial Statements for the Year Ended 31st December 2020
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 10 |
| Detailed Statement of Financial Activities | 11 |
Cimatheque Foundation
Report of the Trustees for the Year Ended 31st December 2020
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st December 2020. The trustees have adopted the provisions of 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 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
To advance the education of the public in the knowledge, understanding and appreciation of the art of film, in particular Arab film, and to promote the study and appreciation of film for the benefit of the public by providing screenings, lectures, discussions, workshops and a film archive collection.
Significant activities
The Charity is involved in the following projects;
Helping to establish and maintain an alternative multi-purpose film centre in Cairo dedicated to celebrating the diversity of film and supporting the needs of independent filmmakers in Egypt while working to build a strong platform for alternative cinema. Services and programmes include film screenings, specialized workshops, a library, a moving image archive, and a lab for super 8mm and 16mm analogue film.
Revisiting Memory - a film archive project comprising of film screenings, exhibitions and workshops
Public benefit
The Trustees have referred to the guidance contained in the Charity Commission's general guidance on the public benefit when reviewing the Charity's aims and objectives and in planning future activities and in setting the grant making policy for the period.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
In the period end the Trust has received donations and grants in total of £74,616
During the period end the Trustees have expended resources totalling a net amount of £58,039 as per Detailed Statement of Financial Activities.
FINANCIAL REVIEW
Reserves policy
The reserves held by the charity are to be expended on receipt of the necessary confirmation from the charity's counterparts in Egypt.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Charity is controlled by its governing document, a memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Recruitment and appointment of new trustees
New Trustees will be appointed based on their experience and credentials.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number 08315897 (England and Wales)
Registered Charity number
1167486
Registered office
272 Regents Park Road London N3 3HN
Page 1
Cimatheque Foundation
Report of the Trustees for the Year Ended 31st December 2020
Trustees
K H I Abdalla Director H I Abdalla Director Professor N J Sakr Director
Company Secretary
Independent Examiner
Abdallah Gurnah Spencer Hyde Limited 272 Regents Park Road London N3 3HN
Approved by order of the board of trustees on 9th September 2021 and signed on its behalf by:
K H I Abdalla - Trustee
Page 2
Independent Examiner's Report to the Trustees of Cimatheque Foundation
Independent examiner's report to the trustees of Cimatheque Foundation ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st December 2020.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
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:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
Abdallah Gurnah Spencer Hyde Limited 272 Regents Park Road London N3 3HN
9th September 2021
Page 3
Cimatheque Foundation
Statement of Financial Activities for the Year Ended 31st December 2020
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 1 EXPENDITURE ON Charitable activities Art House Workshop 16 Other 2,145 Total 2,161 NET INCOME/(EXPENDITURE) (2,160) RECONCILIATION OF FUNDS Total funds brought forward 365,720 TOTAL FUNDS CARRIED FORWARD 363,560 |
Restricted funds £ 74,615 55,878 - 55,878 18,737 407,100 425,837 |
2020 Total funds £ 74,616 55,894 2,145 58,039 16,577 772,820 789,397 |
2019 Total funds £ 21,090 14,412 4,985 |
|---|---|---|---|
| 19,397 | |||
| 1,693 771,127 |
|||
| 772,820 |
The notes form part of these financial statements
Page 4
Cimatheque Foundation
Balance Sheet
31st December 2020
| Unrestricted fund Notes £ CURRENT ASSETS Debtors 5 393,944 Cash at bank 16,565 410,509 CREDITORS Amounts falling due within one year 6 (46,949) NET CURRENT ASSETS 363,560 TOTAL ASSETS LESS CURRENT LIABILITIES 363,560 NET ASSETS/(LIABILITIES) 363,560 FUNDS 8 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ 397,619 28,218 425,837 - 425,837 425,837 425,837 |
2020 Total funds £ 791,563 44,783 836,346 (46,949) 789,397 789,397 789,397 363,560 425,837 789,397 |
2019 Total funds £ 784,663 9,603 794,266 (21,446) 772,820 772,820 772,820 365,720 407,100 772,820 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2020 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 9th September 2021 and were signed on its behalf by:
K H I Abdalla - Trustee
The notes form part of these financial statements
Page 5
Cimatheque Foundation
Notes to the Financial Statements
for the Year Ended 31st December 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds 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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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.
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st December 2020 nor for the year ended 31st December 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st December 2020 nor for the year ended 31st December 2019.
Page 6
continued...
Cimatheque Foundation
Notes to the Financial Statements - continued for the Year Ended 31st December 2020
3. STAFF COSTS
The average monthly number of employees during the year was as follows:
| Average number of staff No employees received emoluments in excess of £60,000. 4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies - EXPENDITURE ON Charitable activities Art House Workshop 73 Other 4,985 Total 5,058 NET INCOME/(EXPENDITURE) (5,058) RECONCILIATION OF FUNDS Total funds brought forward 370,778 TOTAL FUNDS CARRIED FORWARD 365,720 5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors |
2020 3 Restricted funds £ 21,090 14,339 - 14,339 6,751 400,349 407,100 2020 £ 791,563 |
2019 3 Total funds £ 21,090 14,412 4,985 |
|---|---|---|
| 19,397 | ||
| 1,693 771,127 |
||
| 772,820 | ||
| 2019 £ 784,663 |
The other debtors consist of a loan granted to Cimatheque - Alternative Film Centre Company LLC, Egypt, In accordance with the loan agreement between the parties .
The loan has been agreed to be provided for specific approved charitable work only, which falls within the ambit of the grants received by the Foundation and has been given for the following activities;
Development of Cimatheque Alternative Film Centre
Kurrasat Project
The NAAS@CIMATHEQUE Arab Arthouse Cinema Workshop
Revisiting Memory
continued...
Page 7
Cimatheque Foundation
Notes to the Financial Statements - continued for the Year Ended 31st December 2020
5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued
The loan has been provided interest free and is repayable on demand
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Bank loans and overdrafts (see note 7) Trade creditors Other creditors Accrued expenses LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank overdrafts MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds Kurrasat Project Cimatheque Alternative Film Centre NAAS at CIMATHEQUE Arab Art House Cinema Workshop TOTAL FUNDS |
At 1.1.20 £ 365,720 77,465 322,884 6,751 407,100 772,820 |
2020 £ 18,649 4,500 22,000 1,800 46,949 2020 £ 18,649 Net movement in funds £ (2,160) - - 18,737 18,737 16,577 |
2019 £ 1,946 2,700 15,000 1,800 21,446 2019 £ 1,946 At 31.12.20 £ 363,560 77,465 322,884 25,488 |
2019 £ 1,946 2,700 15,000 1,800 |
|---|---|---|---|---|
| 21,446 | ||||
| 2019 £ 1,946 |
||||
| 425,837 | ||||
| 789,397 |
7. LOANS
8. MOVEMENT IN FUNDS
continued...
Page 8
Cimatheque Foundation
Notes to the Financial Statements - continued for the Year Ended 31st December 2020
8. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 1 Restricted funds NAAS at CIMATHEQUE Arab Art House Cinema Workshop 74,615 TOTAL FUNDS 74,616 Comparatives for movement in funds At 1.1.19 £ Unrestricted funds General fund 370,778 Restricted funds Kurrasat Project 77,465 Cimatheque Alternative Film Centre 322,884 NAAS at CIMATHEQUE Arab Art House Cinema Workshop - 400,349 TOTAL FUNDS 771,127 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund - Restricted funds NAAS at CIMATHEQUE Arab Art House Cinema Workshop 21,090 TOTAL FUNDS 21,090 |
Resources Movement expended in funds £ £ (2,161) (2,160) (55,878) 18,737 (58,039) 16,577 Net movement At in funds 31.12.19 £ £ (5,058) 365,720 - 77,465 - 322,884 6,751 6,751 6,751 407,100 1,693 772,820 Resources Movement expended in funds £ £ (5,058) (5,058) (14,339) 6,751 (19,397) 1,693 |
|---|---|
continued...
Page 9
Cimatheque Foundation
Notes to the Financial Statements - continued for the Year Ended 31st December 2020
8. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Kurrasat Project Cimatheque Alternative Film Centre NAAS at CIMATHEQUE Arab Art House Cinema Workshop TOTAL FUNDS |
At 1.1.19 £ 370,778 77,465 322,884 - 400,349 771,127 |
Net movement in funds £ (7,218) - - 25,488 25,488 18,270 |
At 31.12.20 £ 363,560 77,465 322,884 25,488 |
|---|---|---|---|
| 425,837 | |||
| 789,397 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 1 | (7,219) | (7,218) |
| Restricted funds | |||
| NAAS at CIMATHEQUE Arab Art House | |||
| Cinema Workshop | 95,705 | (70,217) | 25,488 |
| TOTAL FUNDS | 95,706 | (77,436) | 18,270 |
The Reserves held are towards the ongoing projects of the Charity, which are to be completed after the period end.
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st December 2020.
Page 10
Cimatheque Foundation
| INCOME AND ENDOWMENTS Donations and legacies Grants Total incoming resources EXPENDITURE Charitable activities Project cost Support costs Finance Bank charges Foreign exchange (gain)/ loss Information technology Professional fee Governance costs Sundries Accountancy and legal fees Total resources expended Net income |
Detailed Statement of Financial Activities for the Year Ended 31st December 2020 2020 2019 £ £ 74,616 21,090 74,616 21,090 55,878 14,339 160 448 201 97 361 545 - 900 - 13 1,800 3,600 1,800 3,613 58,039 19,397 16,577 1,693 |
Detailed Statement of Financial Activities for the Year Ended 31st December 2020 2020 2019 £ £ 74,616 21,090 74,616 21,090 55,878 14,339 160 448 201 97 361 545 - 900 - 13 1,800 3,600 1,800 3,613 58,039 19,397 16,577 1,693 |
|---|---|---|
| 21,090 14,339 448 97 |
||
| 545 900 13 3,600 |
||
| 3,613 | ||
| 19,397 | ||
| 1,693 |
This page does not form part of the statutory financial statements
Page 11