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 2022
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 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | to | 6 |
| Notes to the Financial Statements | 7 | to | 12 |
Cimatheque Foundation (Registered number: 08315897)
Report of the Trustees for the Year Ended 31st December 2022
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 2022. 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 £46,018.93
During the period end the Trustees have expended resources totalling a net amount of £42,654 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
Page 1
Cimatheque Foundation (Registered number: 08315897)
Report of the Trustees for the Year Ended 31st December 2022
Registered office
272 Regents Park Road London N3 3HN
Trustees
K H I Abdalla Director H I Abdalla Director Professor N J Sakr Director
Company Secretary
Independent Examiner
Spencer Hyde Limited 272 Regents Park Road London N3 3HN
Approved by order of the board of trustees on 26th September 2023 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 2022.
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:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. 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
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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
26th September 2023
Page 3
Cimatheque Foundation
Statement of Financial Activities
for the Year Ended 31st December 2022
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies (1) EXPENDITURE ON Charitable activities Art House Workshop - Other 1,526 Total 1,526 NET INCOME/(EXPENDITURE) (1,527) Transfers between funds 7 4,891 Net movement in funds 3,364 RECONCILIATION OF FUNDS Total funds brought forward 366,351 TOTAL FUNDS CARRIED FORWARD 369,715 |
Restricted funds £ 46,019 41,128 - 41,128 4,891 (4,891) - 401,325 401,325 |
2022 Total funds £ 46,018 41,128 1,526 42,654 3,364 - 3,364 767,676 771,040 |
2021 Total funds £ 21,809 41,367 2,163 43,530 (21,721) - (21,721) 789,397 767,676 |
|---|---|---|---|
The notes form part of these financial statements
Page 4
Cimatheque Foundation (Registered number: 08315897)
Balance Sheet 31st December 2022
| Unrestricted fund Notes £ CURRENT ASSETS Debtors 5 428,539 Cash at bank 4,428 432,967 CREDITORS Amounts falling due within one year 6 (63,252) NET CURRENT ASSETS 369,715 TOTAL ASSETS LESS CURRENT LIABILITIES 369,715 NET ASSETS/(LIABILITIES) 369,715 FUNDS 7 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ 401,306 19 401,325 - 401,325 401,325 401,325 |
2022 Total funds £ 829,845 4,447 834,292 (63,252) 771,040 771,040 771,040 369,715 401,325 771,040 |
2021 Total funds £ 795,250 2,525 797,775 (30,099) 767,676 767,676 767,676 366,351 401,325 767,676 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2022 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.
The notes form part of these financial statements
Page 5
continued...
Cimatheque Foundation (Registered number: 08315897)
Balance Sheet - continued 31st December 2022
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 26th September 2023 and were signed on its behalf by:
K H I Abdalla - Trustee
The notes form part of these financial statements
Page 6
Cimatheque Foundation
Notes to the Financial Statements
for the Year Ended 31st December 2022
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 2022 nor for the year ended 31st December 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st December 2022 nor for the year ended 31st December 2021.
continued...
Page 7
Cimatheque Foundation
Notes to the Financial Statements - continued for the Year Ended 31st December 2022
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 - Other 2,163 Total 2,163 NET INCOME/(EXPENDITURE) (2,163) Transfers between funds (13,783) Net movement in funds (15,946) RECONCILIATION OF FUNDS Total funds brought forward 382,297 TOTAL FUNDS CARRIED FORWARD 366,351 5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors |
2022 3 Restricted funds £ 21,809 41,367 - 41,367 (19,558) 13,783 (5,775) 407,100 401,325 2022 £ 829,845 |
2021 3 Total funds £ 21,809 41,367 2,163 43,530 (21,721) - (21,721) 789,397 767,676 2021 £ 795,250 |
|---|---|---|
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
continued...
Page 8
Cimatheque Foundation
Notes to the Financial Statements - continued for the Year Ended 31st December 2022
5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued
The NAAS@CIMATHEQUE Arab Arthouse Cinema Workshop
Revisiting Memory
The loan has been provided interest free and is repayable on demand
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Other creditors Accrued expenses MOVEMENT IN FUNDS At 1.1.22 £ Unrestricted funds General fund 366,351 Restricted funds Kurrasat Project 77,465 Cimatheque Alternative Film Centre 322,884 NAAS at CIMATHEQUE Arab Art House Cinema Workshop 976 401,325 TOTAL FUNDS 767,676 Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds NAAS at CIMATHEQUE Arab Art House Cinema Workshop TOTAL FUNDS |
Net movement in funds £ (1,527) - - 4,891 4,891 3,364 Incoming resources £ (1) 46,019 46,018 |
2022 2021 £ £ 1,799 (1) 59,653 28,300 1,800 1,800 63,252 30,099 Transfers between At funds 31.12.22 £ £ 4,891 369,715 - 77,465 - 322,884 (4,891) 976 (4,891) 401,325 - 771,040 Resources Movement expended in funds £ £ (1,526) (1,527) (41,128) 4,891 (42,654) 3,364 |
|---|---|---|
7. MOVEMENT IN FUNDS
continued...
Page 9
Cimatheque Foundation
Notes to the Financial Statements - continued for the Year Ended 31st December 2022
7. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net movement At 1.1.21 in funds £ £ Unrestricted funds General fund 382,297 (2,163) Restricted funds Kurrasat Project 77,465 - Cimatheque Alternative Film Centre 322,884 - NAAS at CIMATHEQUE Arab Art House Cinema Workshop 6,751 (19,558) 407,100 (19,558) TOTAL FUNDS 789,397 (21,721) 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 21,809 TOTAL FUNDS 21,809 |
Transfers between At funds 31.12.21 £ £ (13,783) 366,351 - 77,465 - 322,884 13,783 976 13,783 401,325 - 767,676 Resources Movement expended in funds £ £ (2,163) (2,163) (41,367) (19,558) (43,530) (21,721) |
|---|---|
continued...
Page 10
Cimatheque Foundation
Notes to the Financial Statements - continued for the Year Ended 31st December 2022
7. 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 1.1.21 £ 382,297 77,465 322,884 6,751 407,100 789,397 |
Net movement in funds £ (3,690) - - (14,667) (14,667) (18,357) |
Transfers between funds £ (8,892) - - 8,892 8,892 - |
At 31.12.22 £ 369,715 77,465 322,884 976 |
|---|---|---|---|---|
| 401,325 | ||||
| 771,040 |
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) | (3,689) | (3,690) |
| Restricted funds | |||
| NAAS at CIMATHEQUE Arab Art House | |||
| Cinema Workshop | 67,828 | (82,495) | (14,667) |
| TOTAL FUNDS | 67,827 | (86,184) | (18,357) |
The Reserves held are towards the ongoing projects of the Charity, which are to be completed after the period end.
continued...
Page 11
Cimatheque Foundation
Notes to the Financial Statements - continued for the Year Ended 31st December 2022
8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st December 2022.
Page 12