2023-04-05-accounts

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Registered Charity Number 1177033

The Basement Door

Trustees Report and Accounts for the year ended 5 April 2023

CHARITY REGISTRATION NUMBER 1177033 TRUSTEES REPORT AND ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2023

Table of Contents
	Page
	3
Trustees Report	4
Independent	7
	8
	9
	10

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CHARITY REGISTRATION NUMBER 1177033 TRUSTEES REPORT AND ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2023

Charity Information

Charity number: 1177033 Registered office: 71-75 Shelton Street London WC2H 9JQ Trustees: Stuart Jackson Nick Leon Natalie Jackson Philippa Trentham Honor Davies Accountant: Landi Accounting Limited 62 Stakes Road Waterlooville Hampshire PO7 8NT

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CHARITY REGISTRATION NUMBER 1177033 TRUSTEES REPORT AND ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2023

Report of the Trustees for the year ended 5 April 2023

The Trustees present their report and the financial statements for the year ended 5 April 2023. The Trustees who served during the year and up to the date of this report are set out on page 1.

Objectives and activities

By running regular live music events, The Basement Door provides education and opportunity to young volunteers up to the age of 22 in and around the Greater London area, by providing:

Training, work experience and qualifications in the areas of café work, event management, front of house, sound and light engineering and artist liaison.
Performance opportunities, mentoring, and industry advice for young musicians at all stages of their development within a community which encourages respect and collaboration.
A creative community in which young artists, photographers and film-makers can gain valuable experience.

The Basement Door exists in order to benefit young people up to the age of 22 living in and around the Greater London area by:

Enhancing social welfare in the provision of leisure-time activities in safe, age-appropriate spaces.
Relieving unemployment in the provision of opportunities to develop skills and capabilities
Supporting wellbeing in the provision of educational opportunities and teamwork

4. Creating a community open to all young people in the target age bracket, which is safe and drug-free.

Structure, governance and management

The Basement Door is a charitable incorporated organisation managed by trustees in accordance with its constitution. Trustees must be at least 16 years old. At least one Trustee must be 18 or older. There must be a minimum of 3 Trustees and a maximum of 12. Trustees appointing new Trustees must have regard to the skills, knowledge and experience needed for the effective administration of the charity. These criteria have been considered by the current Trustees whenever recruitment of additional Trustee has been discussed.

In 2023, one trustee resigned from the post and there are three remaining trustees.

Public Benefit

activities undertaken by the charity. The Trustees are satisfied that the information provided in the report and accounts meets the public benefit reporting requirement.

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CHARITY REGISTRATION NUMBER 1177033 TRUSTEES REPORT AND ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2023

Achievements and performance

The main activities of The Basement Door during the relevant period are set up above and remain in line with its Charitable Objectives. The Basement Door continues to carry out activities which are for the public benefit, illustrated by the data below. There has been a surge in activity in 2023.

Financial review

The gross income of the charity was £43.984.00. Total expenditure was £61,809.00

The loss of around £18,000,00 can be justified by:

Recent development of the charity, shown in the activity on the above grid.
Continuation of the employment of a part-time salaried Director, appointed in June 2022
The use of reserves which have made the loss possible
fundraising, sponsorship and funding applications.

-raising strategy is currently under review by the Trustees to protect a reasonable level of reserves in future years.

Plans for the future

At the time of submitting this report the Trustees aim to:

Increase social media activity so that the Basement Door is visible to more young people
Subsequently, include more young people and increase provision across all areas
Increase fundraising activity with a larger group of trustees and volunteers
Obtain specific funding for targeted projects including a singer-songwriter competition, studio access and more industry advice for young musicians
Launch a monthly band night at a venue in Kingston upon Thames (in progress)
Maintain existing links with festivals, venues and events, and nurture new ones for the future in order to increase the number of opportunities available
Appoint an officer solely responsible for Safeguarding
Appoint a larger and more diverse group of trustees
Appoint a diversity officer in order to reach a wider group of young people in our area

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CHARITY REGISTRATION NUMBER 1177033 TRUSTEES REPORT AND ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2023

The Charities Act 2011 requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

Select suitable accounting policies and apply them consistently;
Observe the methods and principles in the Charities SORP 2005;
Make judgements and accounting estimates that are reasonable and prudent;
State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
Prepare the financial statements on the going concern basis unless it is inappropriate to do so.

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. 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.

Signed on behalf of the Trustees

Philippa Trentham

19/03/2024 Date:

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CHARITY REGISTRATION NUMBER 1177033 TRUSTEES REPORT AND ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2023

Independent Examiners Report to the Trustees of The Basement Door

I report on the accounts of the charity for the year ended 5 April 2023 which are set out on pages, 8 - 10

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER

that

an audit is not required for this year section 144(2) of the charities Act 2011 (the 2011 Act).

It is my responsibility to:

Examine the accounts under section 145 of the 2011 Act
To follow the procedures laid down in the general directions given by the Charity Commission under section 145(5)b of the 2011 Act
To state whether particular matters have come to my attention

BASIS OF INDEPENDENT EXAMINERS REPORT

My examination was carried out in accordance with the 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 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 , and the report is limited to those matters set out in the statement below.

In connection with my examination, no matters have come to my attention:

(1) Which gives me reasonable cause to believe that in any material respect the requirements:
To keep accounting records in accordance with section 130 of the 2011 Act;
To prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 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.

Date: 19/03/2024

Sally Winterbottom ACCA

Landi Accounting Ltd

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CHARITY REGISTRATION NUMBER 1177033 TRUSTEES REPORT AND ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2023

THE BASEMENT DOOR STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2023 NOTES INCOMING RESOURCES Charitable activities 2 TOTAL INCOMING RESOURCES RESOURCES EXPENDED Direct Charitable Expenditure 3 Administration and Advisory Services 3 TOTAL RESOURCES EXPENDED SURPLUS/(DEFICIT) FOR THE YEAR BROUGHT FORWARD 6 APRIL 2022 TRANSFER CARRIED FORWARD 6 APRIL 2023	2023 2023 2023 2022 Unrestricted Restricted Total Total £ £ £ £ 43,984 0 43,984 15,624
	43,984 0 43,984 15,624
	17,712 0 17,712 15,581 44,097 0 44,097 9,678
	61,809 0 61,809 25,259
	(17,825) 268 (17,557) (9,635) 43,139 0 43,139 52,774 0 0 0 0
	25,314 268 25,582 43,139

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CHARITY REGISTRATION NUMBER 1177033 TRUSTEES REPORT AND ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2023

THE BASEMENT DOOR

BALANCE SHEET AS AT 5 APRIL 2023

2023 £ £ 797 22,415 3,090 25,505 (720) 24,785 25,582 25,314 268 25,582	2022 £ £ 4,766 37,300 1,926 39,226 (853) 38,373 43,139 42,871 268 43,139	2022 £ £ 4,766 37,300 1,926 39,226 (853) 38,373 43,139 42,871 268 43,139
25,505 (720)	39,226 (853)

		43,139
		42,871 268 43,139

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CHARITY REGISTRATION NUMBER 1177033 TRUSTEES REPORT AND ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2023

THE BASEMENT DOOR

STATEMENT OF CASHFLOWS

FOR THE YEAR ENDED 5 APRIL 2023

Net incoming/(outgoing) resources for the year Depreciation and impairment Decrease/(Increase) in debtors Increase/(Decrease) in creditors Net Cash inflow from operating activities Capital expenditure Increase/(Reduction) in cash in the year Reconciliation of net cash flow to movement in net funds Increase in cash in the year Total Cash at 6 April 2022 Total Cash at 5 April 2023	2023 2022 2021 £ £ £ (17,825) (9,635) 37,060 3,969 3,862 3,910 (1,164) (1,711) (215) 133 353 (2,072)
	(14,887) (7,131) 38,683
	(1,071) (1,065) (14,887) (8,202) 37,618 (14,887) (8,202) 37,618 37,300 45,502 7,884 22,413 37,300 45,502

Net incoming/(outgoing) resources for the year
Depreciation and impairment
Decrease/(Increase) in debtors
Increase/(Decrease) in creditors
Net Cash inflow from operating activities
Capital expenditure
Increase/(Reduction) in cash in the year
Reconciliation of net cash flow to movement in net funds
Increase in cash in the year
Total Cash at 6 April 2022
Total Cash at 5 April 2023

2023
2022
2021
£
£
£
(17,825)
(9,635)
37,060
3,969
3,862
3,910
(1,164)
(1,711)
(215)
133
353
(2,072)

(14,887)
(7,131)
38,683

(1,071)
(1,065)
(14,887)
(8,202)
37,618
(14,887)
(8,202)
37,618
37,300
45,502
7,884
22,413
37,300
45,502

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CHARITY REGISTRATION NUMBER 1177033 TRUSTEES REPORT AND ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2023

THE BASEMENT DOOR

Notes to the financial statements for the year ended 5 April 2023

1. Accounting Policies

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding period

1.1 Basis of accounting

The financial statements are prepared under the historical cost convention and in accordance with the Statement of Recommended Practice Accounting and Reporting by charities issued in March 2005

1.2 Cashflow

The charity has produced a cashflow report in accordance with FRS102

1.3 Incoming resources

All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

Income received by way of grants donations and gifts are included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.

Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included.

1.4 Resources expended

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

1.5 Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life as follows:

Stage equipment - 20% Straight line Office Equipment - 33.3% Straight line

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CHARITY REGISTRATION NUMBER 1177033 TRUSTEES REPORT AND ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2023

THE BASEMENT DOOR

Notes to the financial statements for the year ended 5 April 2023

2 Income from Charitable Activities

Donations Income from events Unrestricted grants 3 Costs of charitable activities Direct Charitable Expenditure Administration and Advisory Services 4 Employees Employment costs Wages and salaries Social Security costs Other costs	Unrestricted Restricted Funds Funds £ £ 531 - 28,453 - 15,000 -	2023 Total £ 531 28,453 15,000
	43,984 -	43,984
	Unrestricted Restricted Funds Funds £ £ 17,712 - 44,097 -	2023 Total £ 17,712 44,097
	61,809 -	61,809
		Year ended 2023 31,701 - -
		31,701

Number of employees

The average number of employees (including the Trustees) during the year was 1 (2022: 1)

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CHARITY REGISTRATION NUMBER 1177033 TRUSTEES REPORT AND ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2023

THE BASEMENT DOOR

Notes to the financial statements for the year ended 5 April 2023

5 Tangible Fixed Assets

Stage Equipment £ Cost At 6 April 2021 17,517 Additions At 5 April 2022 17,517 Depreciation At 6 April 2021 13,263 Charge for the year 3,503 16,766 Net book values At 5 April 2021 4,254 At 5 April 2022 751 6 Creditors: amounts falling due within one year Other creditors Accruals and deferred income	Stage Equipment £ 17,517	Office Equipment Total £ £ 1,865 19,382 -
	17,517	1,865 19,382
	13,263 3,503	1,353 14,616 466 3,969
	16,766	1,819 18,585
	4,254	512 4,766
	751	46 797
		2023 2022 £ £ 0 0 720 500
		720 500

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CHARITY REGISTRATION NUMBER 1177033 TRUSTEES REPORT AND ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2023

THE BASEMENT DOOR

Notes to the financial statements for the year ended 5 April 2023

7 Analysis of net assets between funds Fund balances as at 5 April 2023 as represented by: Tangible fixed assets Current assets Current liabilities Total Funds	Unrestricted Restricted 2023 Funds Funds Total £ £ £ 797.00 797.00 25,149.00 268.00 25,417.00 (720.00) (720.00)
	25,226.00 268.00 25,494.00

8 Going concern

There are sufficient reserves in order for The Basement Door to continue to operate as a going concern over the next 12 months.

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The Basement Door

Table of Contents

Charity Information

Report of the Trustees for the year ended 5 April 2023

Objectives and activities

Structure, governance and management

Public Benefit

Achievements and performance

Financial review

Plans for the future

Signed on behalf of the Trustees

Philippa Trentham

Independent Examiners Report to the Trustees of The Basement Door

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER

BASIS OF INDEPENDENT EXAMINERS REPORT

THE BASEMENT DOOR

BALANCE SHEET AS AT 5 APRIL 2023

THE BASEMENT DOOR

STATEMENT OF CASHFLOWS

FOR THE YEAR ENDED 5 APRIL 2023

THE BASEMENT DOOR

Notes to the financial statements for the year ended 5 April 2023

1. Accounting Policies

1.1 Basis of accounting

1.2 Cashflow

1.3 Incoming resources

1.4 Resources expended

1.5 Tangible fixed assets and depreciation

THE BASEMENT DOOR

Number of employees

THE BASEMENT DOOR

5 Tangible Fixed Assets

THE BASEMENT DOOR

8 Going concern