**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**
|**Table of Contents**||
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||**Page**|
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|Trustees Report|4|
|Independent|7|
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Page | 2
**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
Page | 3
**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:
1. Training, work experience and qualifications in the areas of café work, event management, front of house, sound and light engineering and artist liaison.
2. Performance opportunities, mentoring, and industry advice for young musicians at all stages of their development within a community which encourages respect and collaboration.
3. 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:
1. Enhancing social welfare in the provision of leisure-time activities in safe, age-appropriate spaces.
2. Relieving unemployment in the provision of opportunities to develop skills and capabilities
3. 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.
Page | 4
**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:
1. Recent development of the charity, shown in the activity on the above grid.
2. Continuation of the employment of a part-time salaried Director, appointed in June 2022
3. The use of reserves which have made the loss possible
4. 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:
1. Increase social media activity so that the Basement Door is visible to more young people
2. Subsequently, include more young people and increase provision across all areas
3. Increase fundraising activity with a larger group of trustees and volunteers
4. Obtain specific funding for targeted projects including a singer-songwriter competition, studio access and more industry advice for young musicians
5. Launch a monthly band night at a venue in Kingston upon Thames (in progress)
6. Maintain existing links with festivals, venues and events, and nurture new ones for the future in order to increase the number of opportunities available
7. Appoint an officer solely responsible for Safeguarding
8. Appoint a larger and more diverse group of trustees
9. Appoint a diversity officer in order to reach a wider group of young people in our area
Page | 5
**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:
Page | 6
**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
Page | 7
**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**|
Page | 8
**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**
|**NOTES**
**FIXED ASSETS**
**CURRENT ASSETS**
Cash at bank and in hand
Debtors
**CREDITORS**
Amounts falling due within one year
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS TOTAL LIABILITIES**
**CHARITY FUNDS**
Unrestricted funds
Restricted Funds
**TOTAL CHARITY FUNDS**|**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**|
Page | 9
**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**|
Page | 10
**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
Page | 11
**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)
Page | 12
**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**|
Page | 13
**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.
Page | 14