Report of the Trustees and Financial Statements for the Year Ended 31 December 2021
for
London City Airport Community Fund
Charity number 1182642
London City Airport Community Fund Charity number 1182642
Contents
| Trustee and professional advisers | 1 |
|---|---|
| Report of the Trustees | 2-4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial satements | 7-11 |
| Independent Examiner's Report | 12 |
London City Airport Community Fund Charity number 1182642
TRUSTEES AND PROFESSIONAL ADVISERS
Legal and administrative details
London City Airport Community Fund was formed on 26[th ] March 2019, as a Charitable Incorporated Organisation (CIO).
Registered Charity Number: 1182642
Registered Address: City Aviation House, Royal Docks, London, E16 2PB, UK.
Trustees
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Christel Krogh Appointed on 01 January 2022
Cllr. Asma Islam Resigned on 31 December 2021
Cllr Genevieve Kitchen Appointed on 03 January 2022
Cllr Charankamal Singh Rai Appointed on 23 February 2022
Cllr. Saima Ashraf Resigned on 31 December 2021
Duncan Alexander
Francesca Pacifico
Joy-Caron Canter Resigned on 31 December 2021
Liam McKay
Raina Gee Appointed on 10 February 2022
Teresa Simpson
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Independent examiner: Crowe U.K. LLP, Aquis House, 49-51 Blagrave Street, Reading, RG1 1PL, UK
Bankers: Barclays Bank PLC, Leicester, Leicestershire, LE87 2BB, UK
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London City Airport Community Fund Charity number 1182642
Report of the Trustees
The trustees who are also the directors of the fund for the purposes of companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provision of 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 (FRS102).
The fund is governed by the fund trustees (the "Trustees") who have a duty, acting at all times in the best interests of the fund, to apply the fund's assets to advance the Object and have ultimate responsibility for all grant-making decisions.
Structure, governance, and management
London City Airport Community Fund is constituted as a Charitable Incorporated Organisation under a deed dated 26th March 2019 with Voting Members other than its fund Trustees (‘Association’ Model Constitution).
Recruitment and appointment of new trustees
Recruitment and appointment of new trustees is in line with the Trust deed.
Trustees of the London City Airport Community Fund represent a cross section of our community. London City Airport (LCY) were keen to ensure there were representatives who understood our target boroughs, charities and not for profit groups and would be objective, providing feedback on projects to be supported without bias.
As part of the application and ongoing review process, Trustees must also declare any conflict of interest or reasons which may impact their objectivity.
We extended an invitation to local authorities as well as community groups immediately neighbouring the airport to join the board and ensured the chair was independent of LCY and had no bias to a particular local authority area. LCY representatives include members of the sustainability and corporate affairs teams. To ensure the fund is inclusive of other LCY partners we invite an airline representative to become a Trustee for a 12-month duration. To select the airline, we utilise our noise performance table. This table is reviewed on an annual basis and compares performance in our incentives and penalties scheme against the previous year’s performance (in this instance 2021 performance against 2020). The table is published in our annual performance report which was made public over the summer. The best performing airline against the incentives and penalties scheme criteria are invited to join the Board of Trustees for the forthcoming year. 2021-22 saw British Airways City Flyer (BACF) join the board of trustee. In 2022-23, Netjets will replace BACF because of their performance.
Purpose
The purpose of the community fund is to provide at least £75,000 per year as grants to charities and notfor-profit organisations and is designed to support local community initiatives. This is as required by London City Airport Limited Section 106 agreement.
Review of activities
The Fund offers grants ranging from £300 to £3,000 which are available for charities and not-for-profit organisations to enable significant and positive change for communities near London City Airport.
In 2021 the fund awarded £75,977 (2020: £84,506) of grants to 26 local charities and not-for-profit organisations.
Future Plans
In 2022 we have already awarded £35,683 to 13 local organisations for the 1[st ] tranche of grant.
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London City Airport Community Fund Charity number 1182642
Report of the Trustees (continued)
Financial review
The company’s net income for the year was £79,821 (2020: £88,761) which is a grant from the parent company. This amount was spent on supporting a broad range of initiatives that enable positive and significant change within and across diverse communities in East London. In total, £75,977 (2020: £84,506) worth of grants have been distributed, to provide a financial boost to local groups, such as food banks, mental health charities, disability groups, and environmental wellbeing teams. A further £3,844 (2020: £4,255) was spent on administrative fee of the company.
Policy for Grants
To distribute the funds evenly and fairly priority will be given to projects with a value of less than £3,000. However, projects in excess of this value may be considered if they offer exceptional community benefit. Priority will be given to projects which include detailed costs and funding from other sources.
The number of projects which can be supported is, of necessity, limited to the amount of total funds available for distribution in any year.
To qualify for any of the available Grant, applicants have to be a charity or not for profit organisation with a project which adheres to the following criteria’s:
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Building stronger, safer, and healthier communities
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Creating more sustainable and greener communities
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Raising aspirations of East Londoners
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Creating pathways into employment
The Trustees may occasionally award grants that fall outside the priorities stated in this policy, provided that they are satisfied that the grant will further the Object and is an appropriate use of the Charity's funds.
Applications from only the local areas below are eligible for consideration:
Barking & Dagenham, Bexley, Epping Forest District Council, Greenwich, Hackney, Havering, Newham, Lambeth, Lewisham Redbridge, Southwark, Tower Hamlets and Waltham Forest.
Reserve’s Policy
The trustees do not believe they need to hold any reserves as the grants are fully funded by London City Airport Limited.
Going concern
The financial statements have been prepared on a going concern basis as Londonia Topco Limited, the ultimate parent company intends to support the Company to ensure it can meet its obligations as they fall due. The trustees have received confirmation that Londonia Topco Limited intends to support the Company for at least one year after the financial statements were approved.
Public benefit statement
The Trustees confirm that they have complied with the duty set out under section 17 of the Charities Act 2011 to have due regard to the charity commission’s guidance on public benefit ‘Charities and Public Benefit’ in developing the objectives for the year and planning activities.
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London City Airport Community Fund Charity number 1182642
STATEMENT OF TRUSTEES’ RESPONSIBILITIES
The trustees are responsible for preparing the report of the Trustees and the financial in accordance with applicable law and regulation.
Charity law requires the trustees to prepare financial statements for each financial year which gave a true and fair view of state of affairs of the charity and of the incoming resources and application of resources including the income and expenditure, of the charity for the year. In preparing the financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in charity SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charity’s transactions and 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 irregularity.
Approved by the Board of Trustees on and signed on their behalf by
Duncan Alexander
Chair of Community Fund
14[th] September 2022
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London City Airport Community Fund Charity number 1182642
Statement of financial activities (income and expenditure account) For the year ended 31 December 2021
| Notes INCOME AND ENDOWMENTS FROM: Donations and legacies Other trading activities Income from Investments Other income Total income EXPENDITURE ON: Costs of generating funds Charitable Activities Grants payable 3 Support costs 4 Total resources expended NET (EXPENDITURE) NET MOVEMENT IN FUNDS FUNDS BROUGHT FORWARD FUNDS CARRIED FORWARD |
Total 2021 £ 79,821 - - - 79,821 - 75,977 3,844 |
Total 2021 £ 79,821 - - - 79,821 - 75,977 3,844 |
Total 2020 £ 88,761 - - - |
||||
|---|---|---|---|---|---|---|---|
| 88,761 | |||||||
| - 84,506 4,255 |
|||||||
| 79,821 | 88,761 | ||||||
| - - - - |
- - - |
||||||
| - |
The notes on pages 7 to 11 form part of the financial statements.
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London City Airport Community Fund Charity number 1182642
Balance sheet As at 31 December 2021
| Notes CURRENT ASSETS Debtors 5 Cash at bank CREDITORS:Due within one year 6 NET CURRENT ASSETS NET ASSETS REPRESENTED BY: Unrestricted funds Restricted funds Approved by the Trustees on and signed on their behalf by: 14 September 2022 |
2021 £ £ 3,641 199 3,840 (3,840) - - - - - |
2020 £ - 4,840 |
|
|---|---|---|---|
| 3,840 (3,840) |
4,840 (4,840) |
||
| - - - - - |
|||
Liam McKay
Trustee
The notes on pages 7 to 11 form part of the financial statements.
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London City Airport Community Fund Charity number 1182642
Notes to the Financial Statements for the year ended 31 December 2021
1. CHARITY INFORMATION
The principal activity of the fund is to award grants to charities and not-for-profit organisations that benefit the local community. The Charitable Incorporated Organisation (registered number CE 016953, Charity number 1182642) is domiciled in the UK. The address of the registered office is City Aviation House, Royal Docks, London, E16 2PB.
2. ACCOUNTING POLICIES
Basis of Preparation
The accounts have been prepared in accordance with the Charities Act 2011, the trust deed and the Charities SORP (FRS102) applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.
The accounts have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
London City Airport Community Fund meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.
Going concern
The financial statements have been prepared on a going concern basis as Londonia Topco Limited, the ultimate parent company intends to support the Company to ensure it can meet its obligations as they fall due. The Directors have received confirmation that Londonia Topco Limited intends to support the Company for at least one year after the financial statements were approved.
Recognition of income
Income is recognised in the Statement of Financial Activities (SoFA) once the charity has entitlement to the funds, it is probable that the income will be received, and the amount can be measured reliably.
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity, and it is probable that these conditions will be fulfilled in the reporting period.
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
Expenditure
Expenditure is recognised on an accrual basis as each liability is incurred.
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.
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London City Airport Community Fund Charity number 1182642
Notes to the Financial Statements for the year ended 31 December 2021 (continued)
Charitable expenditure is reported under two subheadings:
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Charitable activities in maintaining the website and raising public awareness.
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Support costs – comprising the costs incurred to support the trustees in running the activities.
Liability recognition
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
Cash
Cash comprises cash in hand and deposits repayable on demand.
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due. Subsequently, they are measured at the cash or other consideration expected to be received.
Creditors and provisions
Creditors and provisions are recognised when the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. They are measured at settlement amounts less any trade discounts.
Financial Instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
Critical accounting judgements and key sources of estimation uncertainty
In the application of the charity’s accounting policies, which are described in note 2, Trustees are required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimation and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of revision and future periods if the revision affects the current and future periods.
In the view of the Trustees, no assumptions concerning the future or estimation uncertainty affecting the assets and liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year.
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London City Airport Community Fund Charity number 1182642
Notes to the Financial Statements for the year ended 31 December 2021 (continued)
3. GRANTS PAYABLE
| Charity | Charity Category | 2021 | 2020 |
|---|---|---|---|
| £ | £ | ||
| building stronger, safer, healthier | |||
| communities | |||
| Brick Lane Music Hall | Arts and Performance | 3,000 | - |
| Clapton Common Boys Club | Creative Arts Programme for | 3,000 | - |
| SEND children (special | |||
| educational needs and | |||
| disabilities) | |||
| Disability Sports Coach | PRM (People with reduced | 2,940 | - |
| Mobility) | |||
| Made In Hackney | Food Poverty | 3,000 | - |
| Neighbours in Poplar | OAP - Training and wellbeing | 3,000 | - |
| Newham Deanery CIO | Food Poverty | 2,880 | - |
| Quo Vadis Trust | Mental health & wellbeing | 2,980 | - |
| Richard House Trust | Health and home support | 3,000 | - |
| South London Cares | OAP - Health & Wellbeing | 3,000 | - |
| St. Matthew's Project | Youth - Sports & Training | 3,000 | - |
| The Bow Foodbank Limited | Food poverty | 3,000 | - |
| The Royal Docks Learning & Activity Centre | Food Poverty | 3,000 | - |
| Triangoals | Youth - Sports and wellbeing | 2,000 | - |
| Ability Bow | Activities for people with reduced | - | |
| mobility | 2,990 | ||
| Barking Foodbank | Food poverty | - | 6,250 |
| Bethnal Green Foodbank | Food poverty | - | 3,125 |
| Bexley Foodbank | Food bank | - | 2,303 |
| Bow Foodbank | Food poverty | - | 3,125 |
| Carers FIRST | Mental Health and Wellbeing | - | 2,865 |
| CFE Foodbank | Food poverty | - | 6,250 |
| Dagenham Foodbank | Food poverty | - | 6,250 |
| First Love Foundation | Food poverty | - | 3,125 |
| Grit Breakthrough Programmes | Mentor/coaching for hard to | - | 2,825 |
| reach | |||
| Greenwich Foodbank | Food poverty | - | 12,500 |
| Mile End Foodbank | Food poverty | - | 3,125 |
| Newham Foodbank | Food poverty | - | 6,250 |
| Redbridge Talking Newspapers | Vision impaired | - | 1,788 |
| River Roding Trust | River cleaning/sustainability | - | 3,000 |
| Salmagundi Films | Digital training for the elderly | - | 2,775 |
| 37,800 | 68,546 | ||
| creating more sustainable and greener | |||
| communities | |||
| Ocean Youth Connexions | Environment, Health & | 3,000 | - |
| Sustainability | |||
| Manorfield Primary School | Bio-diversity project | 3,000 | |
| Patient Participation Group | Environment and wellbeing | 3,000 | |
| 3,000 | 6,000 | ||
| Carried forward | 40,800 | 74,546 |
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London City Airport Community Fund Charity number 1182642
Notes to the Financial Statements for the year ended 31 December 2021 (continued)
3. Grants payable (continued)
| Brought forward creating pathways into employment Barking and Dagenham Youth Dance Ltd Youth - Sports and wellbeing (BDYD) Caritas Anchor House Training & Employability Inspiring Your Imagination Ltd Youth - Training & Development Learning Revolution Trust Youth - Training & Employment NEKH WELFARE FOUNDATION Youth - Training & Development Re-Instate Ltd Training & Development Romford Town Swimming Club Youth - Training & Development Social Organisation for Unity & Leisure Mums - Training & Employment The Sapphire Community Group Training & Employment The5es Development Community Hub Youth - Training & Employment (SEND) Employability skills and training Raising aspirations Ambition, Aspire, Achieve Training & Employability (MH) Newham All Star Sports Academy (NASSA) Cardboard Citizens Youth - Sports and wellbeing Homelessness Thamesmead Arts and Culture office Raising aspirations Woman’s Talk Raising aspirations Total grants awarded 4. SUPPORT COSTS Fees payable to independent examiner’s -for the review of the Company’s annual financial statements Irrecoverable VAT Bank charges 5. DEBTORS Amounts owed by group undertakings |
2021 £ 40,800 2,810 3,000 2,945 3,000 3,000 2,922 3,000 3,000 3,000 3,000 - 29,677 2,500 3,000 - - - 5,500 75,977 2021 £ 3,200 640 4 3,844 2021 £ 3,641 |
2020 £ 74,546 - - - - - - - - - - 3,000 3,000 - - 3,000 2,955 1,005 6,960 84,506 2020 £ 3,050 1,200 5 |
|---|---|---|
| 4,255 | ||
| 2020 £ - |
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London City Airport Community Fund Charity number 1182642
Notes to the Financial Statements for the year ended 31 December 2021 (continued)
6. CREDITORS
| Due within one year: Amounts owed to group undertakings Accrual - Independent exam fee |
2021 £ - 3,840 3,840 |
2020 £ 1,180 3,660 |
|---|---|---|
| 4,840 |
7. TRUSTEE REMUNERATION & RELATED PARTY TRANSACTIONS
No members of the management committee received any remuneration during the year. No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the year.
During the year the charity received donations of £79,821 ( 2020: £88,761 ) from London City Airport Limited, without conditions, to enable the charity to make grant payments. At the balance sheet date there is a debtor owed by London City Airport Ltd of £3,641 ( 2020 creditor £1,180 ). The company will be supporting the charity for at least the next twelve months.
London City Airport Limited has provided staff to deliver the administration and operational function of the charity.
8. TAXATION
As a charity, London City Airport Community Fund is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity.
9. DONATED SERVICES AND FACILITIES
The Charity has benefited from unpaid time contribution from a number of staff at London City Airport Limited. This has included time spent in helping to manage the administration of the charity.
10 ULTIMATE AND CONTROLLING PARENT UNDERTAKING
The immediate parent undertaking is London City Airport Limited, a company registered in United Kingdom. The registered office is City Aviation House, Royal Docks, London, 44 Esplanade, St. Helier, Jersey, JE4 9WG.
The ultimate and controlling parent undertaking is Londonia Topco Limited, a company registered in Jersey. The registered office is 44 Esplanade, St. Helier, Jersey, JE4 9WG.
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London City Airport Community Fund Charity number 1182642
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LONDON CITY AIRPORT COMMUNITY FUND
I report on the accounts of the Trust for the year ended 31 December 2021, which are set out on pages 5 to 11.
This report is made solely to the charity’s trustees, as a body, in accordance with section 154 of the Charities Act 2011. My independent examiner’s work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity, the charity’s members as a body and the charity’s trustees as a body for my independent examiner’s work, for this report, or for the opinions I have formed.
Responsibilities and basis of report
As the charity trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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
Jacqueline Mitchell FCA Crowe U.K. LLP Chartered Accountants Aquis House 49 – 51 Blagrave Street Reading, RG1 1PL
Date: 7 October 2022
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