# **ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2023**
## **ONE DRUM FOUNDATION**
(Charitable Incorporated Organisation)
**CHARITY REGISTRATION No: 1185202**
Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS
## **ONE DRUM FOUNDATION**
(Charitable Incorporated Organisation)
## **CONTENTS**
|Page 3|Legal and Administrative Information|
|---|---|
|Pages 4 to 5|Trustees' Report|
|Page 6|Independent Examiner's Report|
|Page 7|Statement of Financial Activities|
|Page 8|Balance Sheet|
|Pages 9 to 15|Notes to the Financial Statements|
2
## **ONE DRUM FOUNDATION**
(Charitable Incorporated Organisation)
## **LEGAL AND ADMINISTRATIVE INFORMATION**
## **CHARITY NUMBER**
**CHARITY NUMBER** 1185202 **DATE OF REGISTRATION** 6th September 2019 **START OF FINANCIAL YEAR** 1st August 2022 **END OF FINANCIAL YEAR** 30th September 2023 **TRUSTEES AT 30TH SEPTEMBER 2023** Sayara Beg Olushola Salako James Allie Rita Ball Kudzai Baker (Resigned 23rd January 2023)
**LEGAL STATUS** Charitable Incorporated Organisation **GOVERNING INSTRUMENT** CIO - Foundation Registered 6th September 2019
## **OBJECTS**
To advance the education of the public in the arts, history and culture of African music, in particular but not exclusively through the provision of educational workshops and performances.
**CORRESPONDENCE ADDRESS** 224 Haggerston Road London E8 4HT **PRIMARY BANKERS** Lloyds Bank Plc 25 Gresham Street London EC2V 7HN
## **INDEPENDENT EXAMINERS**
Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS
3
## **ONE DRUM FOUNDATION**
(Charitable Incorporated Organisation)
## **TRUSTEES' REPORT FOR THE YEAR ENDED 30TH SEPTEMBER 2023**
## **Summary of the Main Activities**
One-Drum Foundation runs authentic interactive African drumming, singing, and dancing workshops and performances for all ages and abilities.
Our purpose is to educate the public on the history and legacy of ancient African drumming rhythms and African percussion instruments and the powerful impact African drumming rhythms, songs and dance has on popular music still influenced by the historical African slave trade.
The main activities have been to secure funding for African drumming and dancing workshops for school-age children. The Trustees have had regard to the guidance issued by the Charity Commission on public benefit.
## **Contribution Made by Volunteers**
Volunteers manage and run the Charity but have also contributed to the provision of interactive African drumming and dancing workshops and performances.
## **Achievements and Performance**
The main achievements of the charity so far have been:
Twelve weekly mindfulness African drumming workshops for the Hackney Drug and Probation Rehabilitation Services beneficiaries from October 2022 to December 2022.
A community showcase and integration workshop and performance at the Stoke Newington Police Station supporting the opening of the new office building, to help serving officers better understand the local community culture and music.
Monthly intergenerational African drum and dance workshop for the 50yrs+ residents of the London Borough of Hackney from January 2023 culminating in a showcase performance at Shoreditch Townhall in June 2023 tackling loneliness and isolation.
We succeeded in our objectives by continuing to promote and educate the public on African music through drumming rhythms and dancing techniques.
The average number of youth participants attending our workshop is 12.
The average number of adults participants attending our workshops is 20.
The average number of ticket holders attending our live music performances is 50.
The average number of ticket holders attending our event at Shoreditch Townhall was 150.
## **Financial Review**
The Charity is in a robust financial position.
4
ONE DRUM FOUNDATION
TRUSTEES. REPORT (Contlnuedl
FOR THE YEAR ENDED 30TH SEPTEMBER 2023
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## **ONE DRUM FOUNDATION**
(Charitable Incorporated Organisation)
## **INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS**
Report to the trustees/ members of the One Drum Foundation on the accounts for the year ended 30th September 2023 set out on pages 7 to 15.
## **Respective responsibilities of trustees and 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 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under section 145 of the Charities Act,
- follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
- state whether particular matters have come to my attention
## **Basis of independent examiner’s statement**
My examination was carried out in accordance with 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 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 as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In connection with 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 accounting records in accordance with section 130 of the Charities Act; and
- **·** to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities 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.
K. Collaku MAAT Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS
Date: 19th July 2024
6
## **ONE DRUM FOUNDATION**
(Charitable Incorporated Organisation)
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30TH SEPTEMBER 2023**
|**Notes**
**INCOMING RESOURCES**
**Incoming Resources from Generated Funds**
Donations, Grants & Legacies
**3a**
Investment Income
**3b**
**TOTAL INCOMING RESOURCES**
**RESOURCES EXPENDED**
**Costs of Generating Funds**
Cost of Charitable Activities
**4a**
Governance Costs
**4b**
**TOTAL RESOURCES EXPENDED**
**NET INCOMING (OUTGOING) RESOURCES**
Funds Brought Forward
Transfer of Funds
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
Designated
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
Funds
**2022/23**
**2021/22**
£
£
£
£
£
18,638
880
-
19,518
43,044
171
-
-
171
5
**18,808**
**880**
**-**
**19,688**
**43,049**
24,633
8,373
-
33,006
46,500
810
-
-
810
650
**25,443**
**8,373**
**-**
**33,816**
**47,150**
**(6,635)**
**(7,493)**
**-**
**(14,128)**
**(4,101)**
8,135
2,406
20,114
30,655
34,756
(5,087)
5,087
-
-
-
**(3,587)**
**-**
**20,114**
**16,527**
**30,655**|
|---|---|
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 9 to 15 form part of these financial statements.
7
ONE DRUM FOUNDATION
BALANCE SHEET
AS AT 30TH SEPTEMBeR 2023
Tot41
Total
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Inv88trn8r
10
XJ.114
2Q1f4
17237
17J37
31,3115
31.30S
Cr•dl¢orn' ArwJJni• *1lNn ¢
11
810
810
ofy)
PM7)
1.114
1,855
2Q114
16x7
30,655
12
20,114
IIA27
30.659
Funthofth•CI
Gwal FurKts
PS87)
(7)
&135
2.4C6
20.114
20,114
20.114
T•t•l Fund•
1Q527
14
## **ONE DRUM FOUNDATION**
(Charitable Incorporated Organisation)
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2023**
## **1. ACCOUNTING POLICIES**
## **Basis of Preparation & Assessment of Going Concern**
## **Basis of Preparation**
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2015) (Second Edition, effective 1st January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Charities Act 2011.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
## **Assessment of Going Concern**
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
## **Incoming Resources**
## _**Recognition of Incoming Resources**_
These are included in the Statement of Financial Activities (SOFA) when:
▪ the charity becomes entitled to the resources;
▪ the trustees are virtually certain they will receive the resources; and
▪ the monetary value can be measured with sufficient reliability
## _**Incoming Resources with Related Expenditure**_
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.
## _**Grants and Donations**_
Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
## _**Tax Reclaims on Donations and Gifts**_
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.
## _**Contractual Income and Performance Related Grants**_
This is only included in the SOFA once the related goods or services has been delivered.
## _**Gifts in Kind**_
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable.
## _**Donated Services and Facilities**_
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
## _**Volunteer Help**_
The value of any voluntary help received is not included in the accounts.
## _**Investment Income**_
This is included in the accounts when receivable.
## _**Investment Gains and Losses**_
This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
9
## **ONE DRUM FOUNDATION**
(Charitable Incorporated Organisation)
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 30TH SEPTEMBER 2023**
## **1. ACCOUNTING POLICIES (continued)**
## **Expenditure and Liabilities**
## _**Liability Recognition**_
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
## _**Governance Costs**_
Include costs of the preparation and examination of statutory accounts, the costs of the trustees meetings and cost of any legal advice to trustees on governance or constitutional matters.
## _**Grants with Performance Conditions**_
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
## _**Grants Payable without Performance Conditions**_
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.
## _**Investments**_
Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.
## _**Unrestricted funds**_
These funds can be used for the general objectives of the charity as set out in the trustees report. The movements of the unrestricted funds are given in the Statement of Financial Activities.
## _**Restricted funds**_
These funds are where the donor has specified a purpose for the donation made. These restrictions often arise as a result of appeals for special offerings for specific purposes.
## _**Designated funds**_
These funds are funds set aside by the trustees out of unrestricted general funds for particular purposes or projects.
## _**Fixed Assets**_
Fixed Assets are capitalised if they can be used for more than one year and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt.
## _**Depreciation Expense**_
Depreciation is calculated at a rate to write off the cost of tangible fixed assets over their estimated useful lives. The rates applied are as follows:
Fixtures, Fittings and Equipment
25% - Reducing Balance Basis
## **2. TANGIBLE FIXED ASSETS**
The CIO held no fixed assets during this or the previous financial period.
The annual commitments under non-cancelling operating leases and capital commitments are as follows: 30th September 2023 : None
30th September 2022 : None
10
## **ONE DRUM FOUNDATION**
(Charitable Incorporated Organisation)
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 30TH SEPTEMBER 2023**
## **3. INCOMING RESOURCES**
|**Note**
**a) Donations, Grants & Legacies**
Gifts & Donations
Grants Received
**b) Investment Income**
Bank Interest
**4. RESOURCES EXPENDED**
**a) Cost of Charitable Activities**
Activities & Projects
Administrative Expenses
Advertising & Publicity
Artist Performance Costs
Bank Charges
Consultancy Fees
Equipment Costs
Insurance Costs
Licenses & Subscriptions
Rent & Rates
Telephone Costs
Training Costs
Travel & Subsistence
Utility Costs
**b) Governance Costs**
Independent Examiners Fees
**11**|Unrestricted
Designated
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
Funds
**2022/23**
**2021/22**
£
£
£
£
£
9,138
880
-
10,018
33,544
9,500
-
-
9,500
9,500
**18,638**
**880**
**-**
**19,518**
**43,044**
171
-
-
171
5
**171**
**-**
**-**
**171**
**5**
Unrestricted
Designated
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
Funds
**2022/23**
**2021/22**
£
£
£
£
£
-
-
-
-
7,461
468
82
-
550
356
21
1,651
-
1,672
1,635
-
-
-
-
6,975
10
-
-
10
23
4,600
6,470
-
11,070
15,000
-
-
-
-
980
-
170
-
170
170
-
-
-
-
112
17,719
-
-
17,719
11,631
-
-
-
-
281
-
-
-
-
150
9
-
-
9
621
1,806
-
-
1,806
1,105
**24,633**
**8,373**
**-**
**33,006**
**46,500**
810
-
-
810
650
**810**
**-**
**-**
**810**
**650**|
|---|---|
11
## **ONE DRUM FOUNDATION**
(Charitable Incorporated Organisation)
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 30TH SEPTEMBER 2023**
## **5. RESTRICTED FUNDS**
## **CURRENT FINANCIAL YEAR**
|Arts Council Fund
Cockayne (LCF) Grant
Kids Charity
**PREVIOUS FINANCIAL YEAR**
Arts Council Fund
Cockayne (LCF) Grant
Kids Charity|**Balance**
**Balance**
**01-Oct-22**
Income
Expenditure
Transfers
**30-Sep-23**
£
£
£
£
£
12,426
-
-
-
12,426
3,500
-
-
-
3,500
4,188
-
-
-
4,188
**20,114**
**-**
**-**
**-**
**20,114**
**Balance**
**Balance**
**01-Oct-21**
Income
Expenditure
Transfers
**30-Sep-22**
£
£
£
£
£
20,142
-
7,716
-
12,426
3,500
-
-
-
3,500
4,188
-
-
-
4,188
**27,830**
**-**
**7,716**
**-**
**20,114**|
|---|---|
Restricted funds are wholly represented by the charity's cash reserves and are to be expended as specified above.
## **6. DESIGNATED FUNDS**
## **CURRENT FINANCIAL YEAR**
|Management & Administrative Fund
**PREVIOUS FINANCIAL YEAR**
Management & Administrative Fund|**Balance**
**Balance**
**01-Oct-22**
Income
Expenditure
Transfers
**30-Sep-23**
£
£
£
£
£
2,406
880
8,373
5,087
-
**2,406**
**880**
**8,373**
**5,087**
**-**
**Balance**
**Balance**
**01-Oct-21**
Income
Expenditure
Transfers
**30-Sep-22**
£
£
£
£
£
200
3,426
1,220
-
2,406
**200**
**3,426**
**1,220**
**-**
**2,406**|
|---|---|
Designated funds are wholly represented by the charity's cash reserves and are to be expended on the particular purposes detailed above.
12
## **ONE DRUM FOUNDATION**
(Charitable Incorporated Organisation)
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 30TH SEPTEMBER 2023**
## **7. GIFTS IN KIND AND DONATED SERVICES**
Gifts in Kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Donated Services are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity for the service or facility received. During the financial period the following Gifts in Kind and Donated Services were received:
|**Gifts in Kind and Donated Services**
Rent & Rates
Staff Costs
Telephone Costs
Utility Costs|**TOTAL**
**2022/23**
£
7,540
-
-
1,394
**8,934**|**TOTAL**
**2021/22**
£
11,631
15,000
281
1,105
**28,017**|
|---|---|---|
13
## **ONE DRUM FOUNDATION**
(Charitable Incorporated Organisation)
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 30TH SEPTEMBER 2023**
## **8. INVESTMENTS**
The CIO held no fixed assets investments during this or the previous financial period.
## **9. CASH AT BANK AND IN HAND**
|Cash at Bank & in Hand|Unrestricted
Restricted
**Total**
**Total**
Fund
Fund
**30-Sep-23**
**30-Sep-22**
£
£
**£**
**£**
(2,777)
20,114
17,337
31,305
**(2,777)**
**20,114**
**17,337**
**31,305**|
|---|---|
## **10. DEBTORS AND PREPAYMENTS**
|Sundry Debtors|Unrestricted
Restricted
**Total**
**Total**
Fund
Fund
**30-Sep-23**
**30-Sep-22**
£
£
**£**
**£**
-
-
-
-
**-**
**-**
**-**
**-**|
|---|---|
## **11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Independent Examiners Fee|Unrestricted
Restricted
**Total**
**Total**
Fund
Fund
**30-Sep-23**
**30-Sep-22**
£
£
**£**
**£**
810
-
810
650
**810**
**-**
**810**
**650**|
|---|---|
## **12. CREDITORS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR**
The CIO held no long term liabilities during this or the previous financial period.
## **13. NET ASSETS BETWEEN FUNDS**
|Fixed Asset Investments
Net Current Assets
Long Term Liabilities|Unrestricted
Restricted
**Total**
**Total**
Funds
Funds
**30-Sep-23**
**30-Sep-22**
£
£
£
£
-
-
-
-
(3,587)
20,114
16,527
30,655
-
-
-
-
**(3,587)**
**20,114**
**16,527**
**30,655**|
|---|---|
14
## **ONE DRUM FOUNDATION**
(Charitable Incorporated Organisation)
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 30TH SEPTEMBER 2023**
## **14. STAFF COSTS AND NUMBERS**
The Charity employed no members of staff during this or the previous financial period.
## **15. TRUSTEES AND OTHER RELATED PARTIES**
No payments were made to trustees or any persons connected with them during this financial period. No material transaction took place between the organisation and a trustee or any person connected with them.
## **16. RISK ASSESSMENT**
The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
## **17. RESERVES POLICY**
The Trustees have considered the level of reserves they wish to retain, appropriate to the CIO's needs. This is based on the CIO's size and the level of financial commitments held. The Trustees aim to ensure the CIO will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Trustees will endeavour not to set aside funds unnecessarily.
## **18. PUBLIC BENEFIT**
The CIO acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the CIO has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the CIO should undertake.
15