CHARITY NUMBER: 1167788
Kensington Olympia Festival of Music and the Arts
Unaudited Financial Statements
30 April 2021
Kensington Olympia Festival of Music and the Arts
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Financial Statements
Year ended 30 April 2021
| Contents | Page |
|---|---|
| Independent Examiners Report | 2-3 |
| Trustees’ report | 4-6 |
| Statement of income and expenditure | 7 |
| Statement of fnancial position |
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Independent examiner's report on the accounts
Section A Independent Examiner’s Report
Report to the trustees/ members of
Kensington Olympia Festival of Music and the Arts
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On accounts for the year ended 30 April 2021 Charity no (if any) 1167788 Set out on pages 4 to 8
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. [The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales .
It is my responsibility to:
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examine the accounts under section 145 of the Charities Act,
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to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s statement
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
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Independent examiner's statement In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did 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 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: CT Hughes Date: 21 February 2021 Name: Christopher Hughes
Relevant professional qualification(s) or body (if any):
Institute of Chartered Accountants in England and Wales
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Address:
78 Park Road, Keynsham Bristol BS31 1DE
Kensington Olympia Festival of Music and the Arts
Trustees' Report Year ended 30 April 2021
Section A Reference and administration details
Kensington & Olympia Festival of Music & the Arts Registered charity number 1167788 Charity’s principal address: 11 Hofland Rd, London, W14 0LN email: info@kofma.co.uk Website: www.kofma.co.uk
The Charitable Trust was established in May 2015 to promote music and the arts in the
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local community. The Annual Festival and other events throughout the year aim to
provide young talented musicians and artists a platform to deliver live performances
to the local public at low cost. This has been achieved by the efforts of volunteers,
sponsorship and fund raising.
Managing Trustees: Mr Denis Moriarty Chairman
Mr Ramsay Mason Treasurer Miss Laura Lamph Manager Mr Ashley Stafford
Mrs Lynne Sayer
Section B Structure, governance and management
The Governing Document is the constitution of a Charitable Incorporated Organisation
whose only voting members are its Charity Trustees.
The Charity is constituted as an Association and was registered as a Charity on 22nd
June 2016. Trustees are appointed by a resolution passed at a properly convened
meeting of the Charity Trustees.
The Charity is managed by Laura Lamph who is also a trustee reporting to the trustees
at trustee meetings and to them generally throughout the year.
The Trust insures its activities and third party liability through Ecclesiastical Insurance.
Section C Objectives and activities
The objects of the Charity as set out in its Governing Document is to promote music
and the arts in the local community by providing a platform for young musicians and
artists to perform and display their talents to the local public.
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In summary its primary means of achieving this is organising musical and arts events throughout the year at venues in the local community. However, this year Covid restrictions prevented us from organising live performances.
In previous years, in accordance with The Trustees Mission Statement events were widely advertised locally and, with the benefit of generous sponsorship and donations, ticket prices were significantly discounted with additional concessions to students and young persons. Such events were well supported by the local community and we believe offered significant public benefit by providing access to high quality live performances in the local area at a very low cost. For many it may have been their introduction to the world of music and art. We very much look forward to continuing our work in this vein when restrictions are lifted.
Section D Achievements and performance
As referred to above, due to Covid restrictions upon live performances, this year we have been unable to hold our Annual Festival and related events. However, planning continues with optimism for the year ahead and we look forward to announcing dates and performances as and when regulations are eased. During this challenging period we have made available free on line a series of video clips of stringed recitals, lectures and poetry readings by way of Zoom and YouTube.
Section E Financial Review
The Charity’s financial year is from 1[st] May to 30[th] April. In summary the unaudited accounts prepared by The Treasurer and approved by the Charity’s Independent Examiner for the period ending 30[th] April 2021. As referred to above, due to Covid restrictions there has been no events
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during the year so the accounts simply reflect movement of funds relating to on going management provision.
Total Receipts of £2,289
Total payments of £1,064
Net assets £6,211
The Charity has no other assets or liabilities.
The Charity’s reserves policy is to retain a minimum balance of £3,000.
The full Accounts, which are an addendum to this report were approved at a Meeting of the Trustees on 11[th] February 2022
The Charity’s Bank is The Royal Bank of Scotland, Threadneedle St, London EC2.
Section F Other optional information
The Trustees extend their sincere thanks to all those who have continued to support us during this difficult year. In particular, we thank our Manager Laura Lamph for carrying the organisational burden throughout.
Section G Declaration
The Trustees declare that they have approved the Trustees Report above,
Signed on behalf of the Charity’s Trustees
Denis Moriarty
Kensington Olympia Festival of Music and the Arts
Statement of Income and Expenditure Year ended 30 April 2021
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| 2021 | 2020 | |
|---|---|---|
| Income | £ | £ |
| Ticket sales - Charity performances | 6,823 | |
| Donations & sponsorship | 2,28 | |
| 9 | 7,035 | |
| HMRC Gift Aid repayment | 747 | |
| Total income | 14,60 | |
| 2,289 | 5 | |
| Expenditure | ||
| Hall hire, cleaning & lighting | 1,777 | |
| Insurance | 57 | |
| 7 | 639 | |
| Bar expenses | 435 | |
| Printing, Website & programmes | 1,134 | |
| Performance fees | 9,727 | |
| Administration costs | 46 | |
| 1 | 583 | |
| Bank charges | 2 | |
| 6 | 67 | |
| Total expenditure | 14,36 | |
| 1,064 | 2 | |
| - | ||
| Excess/(shortfall) of income over expenditure | 1,225 | 243 |
Kensington Olympia Festival of Music and the Arts Statement of Financial Position
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Year ended 30 April 2021
2021
| 2020 | |
|---|---|
| Current Assets | £ £ |
| Debtors | - 1,065 |
| Cash at bank and in hand | 6,211 3,921 |
| Net current assets | 6,211 4,986 |
| Current liabilities | 0 0 |
| Net assets | 6,211 4,986 |
| Accumulated fund | 6,211 4,986 |
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