THE CAMERA CLUB Reglstered Charitable Incorporated Organisation 1174805 ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
ANNUAL REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024 Charlty Name and Number The Camera Club Registered Charitable Incorporated Organisation number 1174805 Charity's principal address 16 Bowden Street, London SE114DS Trustees The trustees who have served during the financial year (and until Ihe date of this report) were: Mr Philip Clark Ms Lucy Reeve Mr Paul Smith Mr Steve Ullathorne Structure, Gov•rnanc• and Management The Camera Club was registered as a charitsble incorporated organisation on 22 September 2017. and started operating in this fomi on 1 October 2017. Previously the activities had been operated as an unlncorporated assoclation. On 1 October 2017 a company owning the freehold premises where the Camera Club operates, the Camera Club Limlted. became a 100Yo subsldlary of the charity. On 31 January 2018 the property and other assets and liabilities of the Camera Club Limited were transferred to the charity. On 28 August 2018 the Camera Club Limited was dissolved. This re-organisation has slmplified the govemance of the charity. The trustees are appointed by the members of the charlty. No staff are employed by the charity, and it relies on the assistance of volunteers for its activities to operate. Objectlves and Actlvltles The objects of the charity as set out in its constitution are.. For the public benefit. to advance education in the theory and practice of the art and science of photography, in particular by providing or assisting in the provision of educational, instructional and leaming activities and inexpensive photographic facilities in London. The Gharity provides two studios, four darkrooms and a digital 5Ulte for use by photographers of all abilities inexpensively in London. It also hosts a gallery. in which there are regular exhibitions of photography over the year. It is also available for use by extemal neOrkS of photograph8rs and local community groups, and is used to host a variety of activit18s for m8rnbers to leam more about varied aspects of photography. When planning new activities the Trustees have considered the Charity Commission guidance on public benefrt. Achievements and Perforn)ance This has been a pleasingly successful year at the Club, with the Club's facilities reasonably well used and many members have participated in a broad range of Club activities. Membership has continued to grow for a second successwe year. It is possible to book studios and darkrooms online as well as by contacting the steward on duty at the Club. There has been a good range of exhibitions in the Club's Gallery. The popular winter and summer Members exhibitions were held. There have been significant improvements to the Club's building. with a new look to the Gallery, redecoration of several areas. a new central heating boiler and repairs to the building's roof. Page 1
The Trustees recognise the contribution of many individuals who have given their time voluntarily so that the charity can fvnction. especially those who have acled as stewards lo enable the Club to be open. Particular thanks are due to those who have served on the Committee during this year: Nick Andrews. Phil Clark, Gavin Fernandez, Felix Hall Close. Stuart Hull. Marco Masetti, John Neilson, Lucy Reeve, Phil Robertson, Gabe Simon. Phil Taylor, Steve Ullathorne and Monica Walker Vadillo. Some £30,000 has been spent on improving the Club's building and facilities this year. and including this the Club made an operating loss of expenditure over income for the year of £17,058. However, the Club's investrnents increased significantly in value for a second successive year, in this year by £24.605. So the overall outcome was a m(xJest surplus of £7.545. During the year the Club opened an investment account at CCLA so that the bulk of its funds not immediately required are invested for the medium term. In May 2018 the Trustees agreed an investment policy for the charity. recognising that each year the charity aims to break even, recognising that maintenance expenditure will vary from year to year, and that a surplus is aimed for in years with low maintenance expenditure. The policy is that sufficient cash and liquid funds should be in place to meet likely working capital needs and short-temi foreseeable maintenance expenditure, with the remaining reserves invested in a suitably diversified manner to mitigate risk. Declaratlon The trustees declare that they have approved the tru8tee8' report above. Slgned on behalf of the charlty's trustees: Mr Stephen Ullathome Scott Trustee Mr John Neilson Secretary & Honorary Treasurer ?0?¥ Page 2
INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS Report to the trustees of the Camera Club on the accounts for the year ended 30th September 2024 set out on pages 4 to 8. Respective responsibilities of the trustees and the 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(2) of the Charities Act 2011 (the Act)) and that an independent examination is needed. It is my responsibility to . examine the accounts (under section 145 of the Act), to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)(b) of the Act), and . to state whether particular matters have come to my attention. Basls of ind8pendent examlnerfs statement My examination was carried out in accordance with General Dir8Ctions 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 dlsdosures in the accounts, and seeking explanations from the trustees conceming 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 on whether the accounts show "a true and fair view. and the report Is limited to those matters set out in the ststement below. Independent examln8r's statement In the course of my examination, no matter has come to my attention 1) which gives me reasonable cause to believe that in. any material respect. the requirements . to keep proper accounting records in accordance with section 130 of the Act and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Act have not been met.. or 2) to which, in my opinion. attention should be drawn in order to enable a proper understanding of the accounts to be r8ached. Heather Cheesman FCA 104 Stockbridge Road Chichester W. Sussex P019 8QP Eo2< Page 3
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2024 2024 2023 INCOME Membership SubriptIOnS Studio facilities Darkroom facilities Digital suite Workshops & Events Gallery other 21,131 24,300 2,732 254 4.770 1.208 17.475 23.544 1.887 170 3,542 270 6.275 60,669 46,894 LESS: EXPENDITURE Studio Darkroom Digital Journal Workshops & Events Printing, Postage & Stationery Maintenance & Property Repairs Catering Cle8ning & Laundry Archives GallerylExhibition Rates Gas, Electrlcity & Water Phone & Broadband Computers & IT Insurance & Alamis Bank charges Depreciation Accountancy & Professional fees Miscellaneous 1,748 909 50 1,999 237 120 2,293 633 30,032 247 8,032 190 457 239 5,717 2,074 787 6,502 1,658 9,383 500 824 445 4,105 580 7.275 334 3,702 2,114 1.616 5.941 1.393 9,383 500 6,275 77,729 40,570 OPERATING INCOMEI(LOSS) FOR THE YEAR (17,059) 6,324 Gain l(Loss) on revaluation of investments 24.605 21.161 OVERALL NET INCOMEI(LOSS) FOR THE YEAR 27.485 Page 4
BALANCE SHEET AS AT 30 SEPTEMBER 2024 2024 2023 Note FIXEDASSETS Tangible assets Investments 100,204 293.419 109,587 188,814 393,623 298,401 CURRENT ASSETS Prepayments Bank account PayPal account Cash in hand 2,574 13,495 2,191 101,593 182 103 564 16,632 104.069 CURRENT LIABILITIES Creditors due within one year 1,525 1,286 NET CURRENT ASSETS 15,107 102,784 TOTAL NET ASSETS 408,730 401,185 FUNDS OF THE CHARITY: UNRESTRICTED RESERVES At 1 October 2023 Surplusl(Loss) for the year 401,185 7,545 373.700 27.485 408,730 401.185 Signed on beha5f of the Trustees by: Mr Stephen Ullathome Scott Trustee Page 5
NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 30 SEPTEMBER 2024 1. BASIS OF PREPARATION The accounts have been prepared in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102}, with the Ststement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with FRS 102 and with the Charities Act 2011. The accounts have been prepared under the historical cost convention. except for the revaluation of investments. The Camera Club is a public benefit entity within th8 meaning of FRS 102. 2. ACCOUNTING POLICIES The principal accounting policies are set out below: Income is included in the Statement of Financial Activities (SOFA) when: . the charity becomes entitled to the income., . the trustees are virtually certaln that they will receive the Income; and . the monetsry value can be measured with sufflcient certainty. Where Income has related expenditure, the Income and related expendlture are reported gross In the SOFA. Donations are included in the SOFA only when the charity has unconditional entitlement to the resources. Investment income is included in the accounts when receivable. Investment gains and losses include any gain or loss on the sale of investments and any gain or loss resulting from the revaluing investments to market value at the end of the year. Tangible fixed assets are measured at cost less accumulated depreciation, except in the case of the fr88hold land, which is not depreGiated. Buildings are depreciated on a straight line basis over 40 years. and improvements to buildings over 5 y8ars. Financial instruments comprising debtors and creditors. cash and deposits are measured at the cash amount expected to be received or paid. as appropriate. Financial instruments comprising listed investments are measured at their market value. Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources. Page 6
- TANGIBLE FIXED ASSETS Land Freehold Buildlng Total Cost At 1 October 2023 Disposals At 30 September 60,000 2024 60.000 375.321 435,321 375,321 435,321 Depreclatlon At 1 October 2023 Charge for year On disposals At 30 September 2024 325,734 325,734 9,383 9,383 335,117 335.117 Not book value At 30 September 2023 At 30 September 2024 60.000 49.587 109,587 60,000 40,204 100,204 The charity owns the freehold premises at 16 Bowden Street, London SE114DS. from which rt operates.
- INVESTMENTS M&G BlackRock CCLA COIF Charifund ChariTrak Charity Invesl Fund Totsl Value at 1 October 2023 93.902 94,912 188.814 Acquisition 80,000 80.000 Gainl(Loss) on revaluation at 30 September 2024 11.899 12,249 457 24,605 Value at 30 September 2024 105,801 107.161 80,457 293.419 Page 7
NOTESTOTHE FINANCIALSTATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 5. TRUSTEE EXPENSES Three (four in 2022-23) of the Trustees were re-imbursed during the year out of pocket expenses incurred from third parties of £3,069 (£6,479 in 2022-23) None of the trustees have been paid any remuneration, but in accordance with section 6 (2) (g) of the charity's constitution they did receive the same modest allocation of points for their service on the Committee as other members of the Committee, which can be redeemed against use of the charity's facilities, Page 8