THE CAMERACLUB Reglstered Charitable Incorporated Organisatlon 1174805 ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
ANNUAL REPORT FOR THE YEAR ENDED 30 SEPTEM8ER 2025 Charlty Name and Number The Camera Club Registered Charitable Incorporated Organisation number 1174805 Charty's principal address 16 Bowden Street, London SE114DS Trustees The trustees who have served during the financial year {and unts'l the date of this report) were.. Mr Philip Clark Ms Lucy Reeve Mr Paul Smith Mr Marcus Tate (from 2 March 2025) Mr Steve Ullathome Structure, Governance and Management The Camera Club was registered as a charitable incorFM)rated organisation on 22 September 2017, and stsrted operating in this form on 1 October 2017. Previously the activities had been operated as an unincorporated association. On 1 October 2017 a company owning the freehold premises where the Camera Club operates, the Camera Club Limited, became a 100 /0 subsidiary of the charty. On 31 January 2018 the propety 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-organisab'on has simplified the govemance of the charity. The trustees are appointed by the Members of the charity. No staff are employed by the charity, and it relies on the assistan of volunteers for its activities to operate. ObJectlv88 and Activltl88 The objects of the charty as set out in rts constitution are: For the public benefit, to advance education in the theory and Practi of the art and science of photography, in particular by providing or assists'ng in the provision of educats'onal. instructional and learning activities and inexpensive photographic facilities in London. The charity provides two studios, four darkrooms and a digrtal surte 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 ft)r use by extemal networks of photographers and local community groups, and is used to host a variety of activities for members to leam more about varied aspects of photography. fithen planning new activities the Trustees have considered the Charity Commission guidance on public benefit. Achievements and Perforniance This has been another SUCssful year at the Club, with the Club's facilities reasonably well used, and many members have participated in a broad range of Club actNrties. Membership has continued to grow for a second successive year. It is possible to book studios and darkrooms online as well as by contscting the steward on duty at the Club. There has been a good range of exhibikn'ons in the Club's Gallery, wtth a special exhibition prepared for the Club's 140th anniversary. The popular winter and summer Members exhibitions were held. There have been significant improvements to the Club's building. with some £12.000 spent on property improvements and Page 1
maintenan. These include a new intruder alarn system, a new hanging system and projector for the Gallery, much faster broadband throughout the Club, and significant expenditure on darkroom facilities and printing. The Trustees cOgnise the contribution of many individuals who have given their ts.me voluntsrily so that the charity can function, especially those who have acted as stewards to enable the Club to be open. Particular thanks are due to those who have sep4ed on the Committee during this year. Nick Andrews, Phil Clark. Gavin Fernandez, Mark Grey, Felix Hall Close, Marco Masetti, John Neilson. Lucy Reeve, Gabe Simon, Marcus Tate, Rod Tidman, Steve Ullathorne and Monica Walker Vadillo. The Club increased its prices for using studios and darkrooms at the beginning of the year, after a decade without an increase, and the cost of membership has remained unchanged. These increases have not had a noticeable impact on activity levels. and as a result the Club made a modest operating surplus of income over expenditure for the year of £8,268. Reflecting global markets. the Club's investrnents increased significantly in value, by £29,392. So the overall outcome was healthy. During the year the Club opened a deposrt account at HSBC so that interest can be eamed on funds not required in the short temi. In May 2018 the Trustees agreed an investrnent policy for the chanty, recognising that each year the charity aims to break even, recognising that maintenano 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-tem foreseeable Maintenan expenditure, with the remaining reserves invested in a suitably diversified manner to mitigate risk. Declaration The trustees declare that they have approved the trustees, report above. Signed on behalf of the charty's trustees.. Mr Stephen Ullathome Scott Trustee Mr John Neilson Secretary & Honorary TaSurer 202é 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 2025 set out on pages 4 to 8. Respectlve responsibilitles 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 DItionS 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 Independent examlnerfs ststoment My examination was carried out in accordan with General Directions given by the Charity Commissioners. An examination includes a review of the accounts'ng 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 on whether the accounts show "a true and fair view, and the report is limited to those matters set out in the statement below. Independent examlnevs 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 accounts'ng records in accordan with section 130 of the Act and . to prepare accounts which accord wrth the accounting records and comply with the accounts'ng 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 reached. Heather Cheesman FCA 104 Stockbridge Road Chichester W. Sussex P019 8QP 202 Page 3
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER2025 2025 2024 INCOME Membership subscriptions Studio facilities Darkroom facilities Digital suite Workshops & Events Gallery Bank interesUOther 22,396 30,204 3.879 438 3,823 1,894 21,131 24,300 2.732 254 4,770 1,208 6,275 201 62,836 60,669 LESS: EXPENDITURE Studio Darkroom Digital Joumal Workshops & Events Printing, Postage & Stationery Maintenance & Property Repairs Catering Cleaning & Laundry Archives GallerylExhibition Rates Gas, Electricity & Water Phone & Broadband Computers & IT Insurance & Alarms Bank charges Depreciation Accountancy & Professional fees Miscellaneous 2,021 1,754 736 1,748 909 50 950 314 11,970 600 7,934 20 1,514 2,293 633 30,032 247 8,032 190 457 239 5,717 2,074 787 6,502 1,658 9,383 500 6,275 4,763 1.896 1.471 1,532 9,383 500 54,568 77,729 OPERATING NET INCOMEI(LOSS) FOR THE YEAR 8,268 (17,059) Gain l{Loss) on revaluation of investments 29.392 24,605 OVERALL NET INCOMEIILOSS) FOR THE YEAR 37,660 7,545 Page 4
BALANCESHEET ASAT30 SEPTEMBER 2025 2025 2024 Not• FIXED ASSETS Tangible assets Investments 90,821 322,811 100,204 293,419 413,632 393,623 CURRENT ASSETS Prepayments Bank account Deposit account Cash in hand (including PayPal) 2,747 15,743 15,187 42 2,574 13,495 564 33.720 16,632 CURRENT LIABILITIES Creditors due within one year 1,525 NETCURRENT ASSETS 32,758 15,107 TOTAL NET ASSETS 446,390 408,730 FUNDS OF THE CHARITY: UNRESTRICTED RESERVES At 1 October 2024 Surplusl{Loss) for the year 408,730 37,660 401,185 7,545 446,390 408,730 Signed on behalf of the Trustees by: Mr Stephen Ullathome Scott Trustee Page 5
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 1. BASIS OF PREPARATION The accounts have been prepared in accordance with Financial Reporting Stsndard 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 Charits"es Act 2011. The accounts have been ppared under the historical cost convents'on, except for the revaluation of investments. The Camera Club is a public benefit entty within the meaning of FRS 102. 2. ACCOUNTING POLICIES The principal accounting policies are set out below.. Income is included in the Statement of Financial Activikn'es (SOFA) when: the charity becomes entitled to the income" . the trustees are virtually certain that they will receive the income" and . the monetary value can be measured with sufficient certainty. IM)ere income has related expenditu, the income and related expenditure 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 freehold land, which is not depreciated. Buildings are depreciated on a straight line basis over 40 years, and improvements to buildings over 5 years. 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 obligatK>n committing the charity to pay out resources. Page 6
- TANGIBLE FIXED ASSETS Land Freehold Building Total At 1 October 2024 Disposals At 30 September 60,000 2025 60,000 375,321 435.321 375,321 435,321 Depreclatlon At l October 2024 Charge for year On disposals At 30 September 2025 335,117 335.117 9.383 9,383 344,500 344,500 Net book value At 30 September 2024 At 30 September 2025 60,000 40.204 100,204 60,000 30,821 90,821 The charity owns the freehold premises at 16 Bowden streec London SE114DS, from which rt operates.
- INVESTMENTS M&G Charifund BlackRo¢k CCLA COIF ChariTrak Charity Invest Fund Total Value at 1 October 2024 105,801 107.161 80,457 293,419 Acquisition Gainl(Loss) on revaluation at 30 September 2025 14,390 16,231 {1,229) 29,392 Value at 30 September 2025 120,191 123.393 79,227 322,811 Page 7
NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED30 SEPTEMBER 2025 5. TRUSTEE EXPENSES Three (three in 2023-24) of the Trustees were r&imbursed during the year out of pocket expenses incurred from third parties of £8,906 (£3,069 in 2023-24). None of the trustees have been paid any remuneration, but in accordance wrth section 6 {2) (g) of the charity's consbtution they did receive the same modest allocation of points for their Servi on the Commrttee as other members of the Commtttee, which can be redeemed against use of the charity's facilib'es. Page 8