OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-06-30-accounts

DART CENTRE EUROPE LIMITED

COMPANY NO. 05950105 (ENGLAND AND WALES)

A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL

REGISTERED CHARITY NO. 1172731

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

KING LOOSE & CO INDEPENDENT EXAMINERS

ST JOHN'S HOUSE 5 SOUTH PARADE SUMMERTOWN OXFORD OX2 7JL

DART CENTRE EUROPE LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 30 JUNE 2023

Directors and Trustees

Directors and Trustees A Fusco S. Borg resigned 17 November 2022 K Cunningham appointed 12 June 2023 P Deane K Fowler-Watt appointed 12 June 2023 B Hans Z Harb S Hughes D Javakhishvili S Jukes G. Moreton E Thomasson appointed 12 June 2023 M Williams appointed 12 June 2023 Company Secretary D. Heydon Company Number 05950105(England and Wales) Incorporated 28th September 2006 Charity Number 1172731 Registered 25th April 2017 Registered Office St John's House 5 South Parade Summertown Oxford OX2 7JL

Independent Examiner

Mrs H C Fanthome King Loose & Co Accountants

DART CENTRE EUROPE LIMITED

CONTENTS

FOR THE YEAR ENDED 30 JUNE 2023

Page
1 Annual Report
2 Statement of Trustees' Responsibilities
3 Independent Examiners Report
4 Statement of Financial Activities
5 Balance Sheet
6-10 Notes to the Financial Statements

1.

DART CENTRE EUROPE LIMITED

ANNUAL REPORT FOR THE YEAR ENDED 30 JUNE 2023

The directors and trustees present their annual report and financial statements of the charity for the period ended 30th June 2023. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s constitution, 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- Charities SORP (FRS 102); and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).

Objects, Organisation and Activities, and Public Benefit

To advance education for the public benefit in the field of journalism, by the provision of education and training of journalists in issues of trauma and skills related to covering traumatic news events, and by promoting research for the public benefit in issues of trauma and to publish these useful results.

Future Plans

The Charity’s focus will continue on funding, assisting, and supporting and promoting those journalistic and research projects that have the greatest outreach and provide the greatest public benefit.

In considering these aims and objects, the Trustees have reviewed the guidance issued by the Charity Commission in relation to public benefit, and consider that the public benefit test continues to be satisfied.

The Organisation of Our Work.

The charity is organised so that the trustees meet and converse regularly to manage its affairs, any matters of concern, and the day to day administration.

There is no specific training policy in respect of new Trustees, but attendance at Committee meetings is required for such new appointees, to gain the appropriate familiarity with the Charity’s operations and finances.

Review of Progress and Achievements

Unrestricted Funds

In the year the charity has generated income of £169,385(2022 - £204,745). Total costs incurred were £187,678 (2022 - £141,798) leaving a current period deficit of expenditure over income of £18,293 (2022- surplus of income over expenditure of £62,947). This deficit for the year of £18,293 has been deducted from the the reserves at 1 July 2022 of £151,507, leaving a balance on the charity's unrestricted income funds of £133,214 at 30 June 2023.

Restricted Funds

The charity received a grant in the year of £92,111 ( $100,000) from Open Society Foundations working on an Ukraine Journalist Support Programme to provide psychosocial support and trauma-related training for Ukranian journalists and newsroom leaders; training for NGOs working with Ukranian journalists; and Ukranian language online resources for journalists covering the ongoing conflict, war crimes and related issues. Expenditure to date amounted to £24,103 leaving a balance on the charity's restricted income funds of £68,008 at 30 June 2023.

Finances and Reserves Policy

The attached financial statements show the current state of the finances which the committee consider to be sound.

The balance shown on unrestricted income funds at 30th June 2023 amounted to £133,214. It is the policy of the Charity to maintain unrestricted funds, which are the free reserves of the Charity, at a level which provides sufficient funds to cover the ongoing support and administration costs, thereby ensuring the continuity and the promotion of charity's projects as they arise. This situation is constantly monitored by the trustees.

1(a)

DART CENTRE EUROPE LIMITED

ANNUAL REPORT FOR THE YEAR ENDED 30 JUNE 2023

Risk Management

The Trustees have examined the major strategic, business and operational risks which the Charity faces or may face and confirm that systems are in place to enable regular reports to be produced, so that the necessary steps can be taken to lessen any such risks. The principal risks faced by the charity are the sustainability of income, and the ongoing restraint over, and control of, operating costs. Both of these risks are under constant review and monitoring.

Small Company Provisions

This report has been prepared in accordance with the small companies' regime of the Companies Act 2006.

Approval

This report was approved on behalf of the Board of Directors and Trustees on…………………………2023 and signed on its behalf by:

…………………………………………… A Fusco Director and trustee

2.

DART CENTRE EUROPE LIMITED

STATEMENT OF TRUSTEES RESPONSIBILITIES

FOR THE YEAR ENDED 30 JUNE 2023

Statement of Trustees’ responsibilities

The trustees are required by law to prepare financial statements for each financial year, which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity, and to enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities Act 2011 and the applicable Charities SORP. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements.

Approved by the Trustees and signed on their behalf by:

…………………………………………… A Fusco Director and trustee

3.

DART CENTRE EUROPE LIMITED

INDEPENDENT EXAMINER'S REPORT

FOR THE YEAR ENDED 30 JUNE 2023

REGISTERED CHARITY NO. 1172731

I report to the charity trustees on my examination of the accounts of the charitable company, for the year ended 30th June 2023, which are set out on pages 4 to 10.

Respective responsibilities of the trustees and examiner

As the charity’s trustees (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.

Basis of independent examiner’s report

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. 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 you as 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.

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:

(1) 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 accounting records; or

(3) 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

(4) 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.

King Loose & Co ……………………………… St John's House H. C. Fanthome FCA 5 South Parade Summertown ……………………………… Oxford OX2 7JL Dated

4.

DART CENTRE EUROPE LIMITED

STATEMENT OF FINANCIAL ACTIVITIES SUMMARY INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 JUNE 2023

Note
Income and endowments from:
Activities in furtherance
of the Charity's objects
2
Bank Deposit Interest
Total income and endowments
Expenditure on
charitable activities
Raising funds
3
Costs incurred in furtherance
of the Charity's objects
4
Other support costs
5
Total resources expended
Net (Expenditure)/Income for
the period before transfers
Transfers between funds
Net movement in funds
Total funds brought forward
11
Total funds carried forward
Unres-
tricted
Funds
£
168,991

394

169,385

55,975

128,459

3,244

187,678

18,293 ###
-

18,293

151,507

133,214
2023
Res-
tricted
Funds
£
92,111
-
92,111
-
24,103
-
24,103
68,008
-
68,008
-
68,008
Total
Funds
£
261,102
394
261,496
55,975
152,562
3,244
211,781
49,715
-
49,715
151,507
201,222
Unres-
tricted
Funds
£
204,745
-
204,745
35,025
104,077
2,696
141,798
62,947
-
62,947
88,560
151,507
2022
Res-
tricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
Total
Funds
£
204,745
-
204,745












35,025
104,077
2,696
141,798
-



62,947
-
-




62,947
88,560
151,507

The notes on pages 6 to 10 form part of these accounts.

5.

DART CENTRE EUROPE LIMITED

BALANCE SHEET (COMPANY NUMBER 05950105)

AS AT 30TH JUNE 2023

Current Assets
Debtors and prepayments
Cash at bank
Cash in hand
Current Liabilities
Creditors: amounts falling
due within one year
Net current assets
Total assets less current liabilities,
being Net assets
Represented by:
Unrestricted income fund
Restricted fund		 Note
8
9
11
11		 30.06.23
£
£
4,049
206,988
-
211,037
9,815
201,222
201,222
133,214
68,008
201,222		 30.06.22
£
£
51,994
121,137
-
173,131
21,624
151,507
151,507
151,507
-
151,507		 30.06.22
£
£
51,994
121,137
-
173,131
21,624
151,507
151,507
151,507
-
151,507
151,507
151,507
-
151,507

The trustees/directors consider that for the period ended 30th June 2023 the charitable company was entitled to exemption from the requirements to have an audit under the provision of Section 477 of the Companies Act 2006. No member or members have deposited a notice requesting an audit for the current financial period under Section 476 of the Act.

The trustees/directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with Section 386 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the finanicial period and of its profit or loss for the financial period in accordance with the requirements of Sections 393 and 394, and which otherwise comply with the requirements of the Act relating to the financial statements, so far as applicable to the charitable company.

Approved by the directors and trustees on ………...……………. 2023 and signed on its behalf by:

………………………………..A. Fusco Director and trustee

The notes on pages 6 to 10 form part of these accounts

6.

DART CENTRE EUROPE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

1. Accounting policies

(a) General information

These financial statements have been presented in Pounds Sterling as this is the currency of the primary economic environment in which the Charity operates.

(b) Basis of preparation

The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: 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), Charities SORP (FRS 102); and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. and the Companies Act 2006.

The charity constitutes a public benefit entity as defined by FRS 102.

The Charity has taken advantage of the exemption to prepare a cash flow statement, as contained in Financial Reporting Standard 1, on the grounds that it is a small Charity.

(c)

Activities

The financial statements include the results of the charity's operations as described in the directors' and trustees' annual report.

(d)

Income recognition

Income of all kinds is accounted for when receivable, i.e. in the period in which the Charity is entitled to receipt, it is probable that the income will be received and the amount of income receivable can be measured reliably. No permanent endowments have been received in the period.

(e)

Expenditure recognition

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 settlement will be required and the amount of the obligation can be reliably measured.

Expenditure is included on an accruals basis and has been classified under headings that aggregate all costs related to the category.

All core cost categories are regarded as being in furtherance of the Charity’s objects, as described in the Annual Report.

(f) Operating leases

Rentals applicable to operating leases where substantially all the benefits and risks of ownership remain with the lessor, are reflected in the statement of financial activities as incurred.

7.

DART CENTRE EUROPE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

1. Accounting policies (continued)

(g) Going concern

The financial statements have been prepared on a going concern basis.

The current economic conditions present increased risks for all businesses. In response to such conditions, the directors/trustees have carefully considered these risks, including an assessment of uncertainty on future trading projection for a period of at least 12 months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements.

The directors/trustees have concluded that the going concern basis remains appropriate.

(h) Pensions

The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.

(i) Financial assets - classified as basic financial instruments

i) Cash and cash equivalents. Cash and cash equivalents include cash in hand, deposits held with banks, and other short term highly liquid investments with original maturities of three months or less.

ii) Trade and other receivables. Trade and other receivables that are receivable within one year are measured at the undiscounted amount of the cash expected to be received, net of any impairment.

iii) Trade and other payables. Trade and other payables that are payable within one year are measured at the undiscounted amount of the cash expected to be paid.

(j) Fund accounting

The charity currently holds both unrestricted and restricted funds.

Unrestricted funds comprise those funds which the Trustees are free to use in accordance with the objects of the charity, as defined in the constitution.

Restricted funds represent monies given for specific projects or purposes.

2. Activities in furtherance of the Charity's objects

Training & workshop fees
Other fees
Grants
Core costs rechargeable		 Unrestricted Unrestricted Unrestricted Restricted
Total Funds
Funds
2023
£
£
67,752
4,828
92,111
92,111
96,411
92,111
261,102		 Unrestricted Unrestricted Unrestricted Restricted
Funds
£
-
-
-
-		 Restricted
Funds
£
-
-
-
-		 Total Funds
Funds Funds 2022
£
56,093
3,816
45,975
98,861
£
67,752
4,828
-
96,411		 £
56,093
3,816
45,975
98,861
168,991 204,745 - 204,745

8.

DART CENTRE EUROPE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

3.
4.
5.		 Costs of raising funds

Direct costs - consultants
Direct costs - other
Costs of activities in furtherance
of the Charity's objects
Project costs - grants
Subcontract services
Progamme development and networking
Consultancy fees
Outreach/event costs ( UK & Overseas)
Other support costs
Insurance
Independent examiners fees
Bank and foreign exchange costs		 Unrestricted
Funds
£
55,975
-
55,975
Unrestricted
Funds
£
-
104,100
2,211
9,851
12,297
128,459
Unrestricted
Funds
£
925
1,100
1,219
3,244		 Unrestricted
Funds
£
55,975
-
55,975
Unrestricted
Funds
£
-
104,100
2,211
9,851
12,297
128,459
Unrestricted
Funds
£
925
1,100
1,219
3,244		 Restricted
Funds
£
-
-		 Restricted
Funds
£
-
-		 Total Funds
Unrestricted
2023
Funds
£
£
55,975
35,025
-
-		 Total Funds
Unrestricted
2023
Funds
£
£
55,975
35,025
-
-		 Restricted
Funds
£
-
-		 Restricted
Funds
£
-
-		 Total Funds
2023
£
55,975
-		 2022
£
35,025
-
55,975 - 55,975 35,025 - 35,025
Restricted
Funds
£
24,103
-
-
-
-		 Total Funds
Unrestricted
2023
Funds
£
£
24,103
41,129
104,100
47,565
2,211
7,210
9,851
8,173
12,297
-		 Restricted
Funds
£
-
-
-
-
-		 Total Funds




2023
£
24,103
104,100
2,211
9,851
12,297		 2022
£
41,129
47,565
7,210
8,173
-
24,103 152,562
104,077		 - 104,077
Restricted
Funds
£
-
-
-		 Total Funds
Unrestricted
2023
Funds
£
£
925
898
1,100
1,250
1,219
548		 Restricted
Funds
£
-
-
-		 Total Funds
2023
£
925
1,100
1,219		 2022
£
898
1,250
548
3,244 - 3,244 2,696 - 2,696

9

DART CENTRE EUROPE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

6. Staff costs

(i) The charity has no employees and thus none received emoluments above £60,000. (ii) No remuneration is paid to trustees, or persons connected with them. Payments in respect of other professional services are shown at note 14.

7
8
9		 Deficit/Surplus for the period
The deficit/surplus for the period
is stated after charging:
Independent examiner's remuneration
Debtors
Trade debtors
Other debtors
Creditors: Amounts falling due within one year
Other taxes and social security costs
Accruals & deferred income		 2023
£
1,100
2023
£
3,514
535
4,049
2023
£
-
9,815
9,815		 2022
£
1,250
2022
£
51,994
-
51,994
2022
£
1,336
20,288
21,624

10.

DART CENTRE EUROPE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

10 Analysis of net assets by funds
Restricted funds
Unrestricted income fund		 Net
current
assets
£
68,008
133,214
201,222		 Total
£
68,008
133,214
201,222

The unrestricted income fund represents net income unexpended and undesignated at the date of the balance sheet. These funds comprise those monies which the Trustees are free to use in accordance with the objects of the Charity, as defined in the constitution.

The restricted funds represent monies given for specific projects or purposes.

11 Funds and reserves

At 1 July 2022
(Deficit)/Surplus on income and expenditure account
At 30 June 2023		 Unrestricted
Income Fund
Restricted

Income Fund

£
-
68,008
68,008		 Total
£
151,507
49,715
£
151,507
- 18,293
133,214 201,222

12 Company limited by guarantee

Dart Centre Europe Limited is limited by guarantee and therefore has no share capital.

13 Trustees expenses

No expenses are paid to any trustees; occasional, low value, reimbursements are made where overhead items have been incurred by either trustees, employees or volunteers.

14 Related party transactions

Professional fees were paid to certain of the trustees in respect of consultancy fees for fundraising. The trustees so paid, and the amounts for the year were as follows:- J Javakhshvili - £3,182; B Hans - £3,000; Z Harb - £2,500. All fees were at below market value rates