**Charity number: 1190932** 

## **SOUTH ESSEX AFRICAN CARIBBEAN ASSOCIATION** 

**(A charitable incorporated organization)** 

## **UNAUDITED** 

**TRUSTEES' REPORT AND FINANCIAL STATEMENTS** 

**FOR THE YEAR ENDED  31 AUGUST 2023** 



## **SOUTH ESSEX AFRICAN CARIBBEAN ASSOCIATION ( A charitable Incorporated organization)** 

## **CONTENTS** 

||Page|Page|
|---|---|---|
|**Reference and administrative details of the Charity, its Trustees and advisers**|1||
|**Trustees' report**|2-8||
|**Independent examiner’s report**||9|
|**Statement of financial activities**|10||
|**Balance sheet**|11||
|**Notes to the financial statements**|12 -|17|





**SOUTH ESSEX AFRICAN CARIBBEAN ASSOCIATION ( A charitable Incorporated organization)** 

## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2023** 

**Trustees** Annika Phillips (appointed 19 February 2020) Shauna Creary, Co-Chair (appointed 19 August 2019) Patrick Graham (appointed 19 August 2019, resigned 31 December 2023) Tanesha Baxter, Co-Chair (appointed 19 August 2019) 

**Charity registered number** 1190932 **Registered office** 90 High Street Southend-On-Sea Essex SS1 1JN **Accountants** SMG Business Accountants Ltd Chartered Certified Accountants 85 Great Portland Street First Floor London W1W 7LT **Bankers** Lloyds Bank Plc Po Box 1000 BX1 1LT 

1 



**SOUTH ESSEX AFRICAN CARIBBEAN ASSOCIATION ( A charitable Incorporated organization)** 

## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2023** 

The Trustees present their annual report together with the financial statements of the South Essex African Caribbean Association for the year ended 31 August 2023. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). 

Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted. 

## **Objectives and activities** 

## **a. Policies and objectives** 

The objectives of the Charity are: 

- To advance the education of the public in the arts, crafts, culture, history and heritage of the African Caribbean community in Britain. 

- To promote for the benefit of the inhabitants of South Essex and surrounding area with provision of facilities for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving the conditions of life of the said inhabitants. 

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'. 

## **b. Activities undertaken to achieve objectives** 

To achieve its objectives the Charity: 

- Creates and delivers various projects for the community to educate and inform on some of the African Caribbean experiences in Essex. 

- Collaborate with other organizations to celebrate International Women’s Day events whilst celebrating Black Female Entrepreneurs. 

- Showcases the lived experiences of prominent people of African and Caribbean heritage in Britain 

- Creates projects which capture local perspectives on the health and wellbeing of Essex residents and the devastating effect of the Corona Virus during and throughout the pandemic. 

2 



**SOUTH ESSEX AFRICAN CARIBBEAN ASSOCIATION ( A charitable Incorporated organization)** 

## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023** 

## **Objectives and activities (continued)** 

## **c. Main activities undertaken to further the Charity's purposes for the public benefit** 

The charity continues to plan its activities to serve all areas of our community with an inclusive commitment to all age groups, without discrimination of race, sex, political or religious beliefs. 

We advance the education of the public in the arts, crafts, culture, history and heritage of the African Caribbean community in Britain through our various projects and events. 

We promote for the benefit of the inhabitants of South Essex and surrounding area with provision of facilities for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving the conditions of life of the said inhabitants. 


We continue to remember Josephine's vision and legacy. Gone but not forgotten. 

3 



## **SOUTH ESSEX AFRICAN CARIBBEAN ASSOCIATION ( A charitable Incorporated organization)** 

## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023** 

## **Achievements and performance** 

## **a. Main achievements of the Charity** 

## **EAST BEACH FESTIVAL 2023** 

The East Beach Festival coming to East Beach in Shoeburyness on Saturday, 12th- Sunday, 13th August 2023. SEACA collaborated with Noir Rose to make this festival happen. East Beach Festival returned to Shoeburyness, and after last year’s success, it brought another spectacular event filled with music, food, and good vibes. The Festival was a family-friendly, multicultural event. General admission was free, with a limited number of VIP tickets for sale. There were performances from live bands, local and international artists, and top DJs. A variety of stalls offered Jamaican Jerk Cuisine, wellbeing spaces, and a funfair with plenty of rides for the kids. Families were able to participate together and enjoy this cultural experience. The festival was a dazzling display of popular culture that engaged everyone who attended and encapsulated the diverse spirit of the City of Southend. 



## **International Women’s Day 2023** 

The amazing team of SEACA in collaboration with the Curious Club celebrated at the venue, Twenty-One.  The monies raised at this event went to the Safe Steps project. This festival time around the celebration was in Jo’s name. The aim was to keep the community connections going. All work for this festival was voluntary and all help was appreciated! 


4 



**SOUTH ESSEX AFRICAN CARIBBEAN ASSOCIATION ( A charitable Incorporated organization)** 

## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023** 

## **Achievements and performance (continued)** 

## **Steel Here Project** 

The Steel Here group had another busy year of training under the tuition of Shirley Potter. The Steel Here project continues to be a diverse group of children and adults learning how to play the steel pans and drums and also given the opportunity to perform in the local community and wider parts of Essex. This included playing at the memorial for Jo at Metal (a charity, Jo was also a trustee), Southend High Street lights, Women’s Festival, Hamlet Court Road in Harmony, Reggae day put on by Trust Links, Afro Food Festival in Thurrock, East Beach Festival. What a year. Keep up the good work. 


Playing at Trust Links Reggae Day 


Playing at East Beach Festival 

5 



## **SOUTH ESSEX AFRICAN CARIBBEAN ASSOCIATION ( A charitable Incorporated organization)** 

## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023** 

## **Achievements and performance (continued)** 

## **Windrush Celebration** 

SEACA also collaborated with Metal to take a coach of people to the 75th Windrush celebration. Belongings: Windrush 75 commemorated and celebrated the peoples of the Windrush Generation and the talents of their descendants who have contributed significantly to British society over the past 75 years. It was a unique sound and vision experience that provided a deep exploration of how the presence of the Windrush generation and their descendants has shaped recent British history.  The project was centered around an art installation themed on migration, identity, and settlement, featuring interviews with elders, reflections, soundscapes, songs, and visual projections. The journey began at Tilbury Port in Essex from 22nd to 25th June, marking the important 75th anniversary of the Windrush arrival. 





## **What is Home?** 

We also worked with 4U2NewsMag to bring stories and experiences of people from the Windrush Generation to be made into a documentary. The Excursion - What is home? looked at the life story of the people and the impact their journey had on them and the generation that came after them. 

6 



## **SOUTH ESSEX AFRICAN CARIBBEAN ASSOCIATION ( A charitable Incorporated organization)** 

## **Financial review** 

## **a. Going concern** 

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. 

## **b. Reserves policy** 

The Trustees would like to ensure a minimum reserves level compatible with their responsibilities and services of the organisation, and in line with guidance from the Charities Commission. The aim is to build a level of reserves equivalent to three months running costs, plus an amount allowing payment of any other outstanding commitments. 

## **Structure, governance and management** 

## **a. Constitution** 

South Essex African Caribbean Association a charitable incorporated organization (CIO), was registered as a charity 19th August 2020. It is governed by a CIO - Foundation model constitution and operates in accordance with this constitution. 

## **b. Methods of appointment or election of Trustees** 

The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the CIO - Foundation model constitution. 

7 



**SOUTH ESSEX AFRICAN CARIBBEAN ASSOCIATION ( A charitable Incorporated organization)** 

## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023** 

## **Statement of Trustees' responsibilities** 

The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

Company law requires the Trustees to prepare financial statements for each financial period. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles of the Charities SORP (FRS 102); 

- make judgments and accounting estimates that are reasonable and prudent; 

- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; 

- 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 adequate 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 Companies Act 2006. 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. 

Approved by order of the members of the board of Trustees on 30 June 2024 and signed on their behalf by: 


………………………… Shauna Creary (Co-Chair) 

8 



## **SOUTH ESSEX AFRICAN CARIBBEAN ASSOCIATION ( A charitable Incorporated organization)** 

## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2023** 

## **Independent examiner's report to the Trustees of South Essex African Caribbean Association ('the Charity')** 

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 August 2023. 

## **Responsibilities and basis of report** 

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 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 the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. 

## **Independent examiner's statement** 

Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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 (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. 

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. 

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 

**1.** accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or 

**2.** the accounts do not accord with those records; or 

**3.** 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. 

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My 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 and the Charity's Trustees as a body, for my work or for this report. 

Signed: 


Dated: 30 June 2024 

Archibald H R Graham (FCCA) SMG Business Accountants Ltd Chartered Certified Accountants 85 Great Portland Street, First Floor, London W1W 7LT 

9 



## **SOUTH ESSEX AFRICAN CARIBBEAN ASSOCIATION ( A charitable Incorporated organization)** 

## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2023** 

|||**Unrestricted**|**Restricted**|**Total**|**Unrestricted**|**Restricted**|**Total**|
|---|---|---|---|---|---|---|---|
|||**Fund**|**Funds**|**Funds**|**Fund**|**Funds**|**Funds**|
||**Note**|**2023**|**2023**|**2023**|**2022**|**2022**|**2022**|
|||**£**|**£**|**£**|**£**|**£**|**£**|
|**Income from:**||||||||
|Donations, legacies and grants|3|430|17,150|17,580|9,050|27,700|36,750|
|Income from charitable|4|1,750|-|1,750|1,199|-|1,199|
|activities||||||||
|**Total income**||**2,180**|**17,150**|**19,330**|**10,249**|**27,700**|**37,949**|
|Expenditure on charitable|5|931|16,659|17,590|2,386|40,494|42,880|
|activities||||||||
|**Total expenditure**||**931**|**16,659**|**17,590**|**2,386**|**40,494**|**42,880**|
|||||||||
|**Net income/(expenditure)**<br>**for the year before transfers**||**1,249**|**491**|**1,740**|**7,863**|**(12,794)**|**(4,931)**|
|Transfers between funds|9|-|-|-|(8,400)|8,400|-|
|**Net movement in funds**||**1,249**|**491**|**1,740**|**(537)**|**(4,394)**|**(4,931)**|
|**Reconciliation of funds**||||||||
|Balance at 1 September 2022||(187)|(618)|(805)|350|3,776|4,126|
|**Balance at 31 August 2023**||**1,062**|**(127)**|**935**|**(187)**|**(618)**|**(805)**|



The Statement of financial activities includes all gains and losses recognised in the period. 

The notes on pages 12 to 17 form part of these financial statements. 

10 



## **SOUTH ESSEX AFRICAN CARIBBEAN ASSOCIATION ( A charitable Incorporated organization)** 

## **BALANCE SHEET AS AT 31 AUGUST 2023** 

||**Notes**|**2022**|**2021**|
|---|---|---|---|
|||**£**|**£**|
|**Fixed assets**||||
|Tangible fixed assets||-|-|
|**Total Fixed Asset**||-|-|
|**Current Assets**||||
|Cash at bank and in hand||2,735|2,456|
|**Net current assets**||**2,735**|**2,456**|
|**Creditors**||||
|**Creditors: amounts falling due within one year**|**8**|(1,800)|(3,261)|
|**Net current assets/(liabilities)**||**935**|**(805)**|
|||||
|**Net assets**||**935**|**(805)**|
|**Charity funds**||||
|Unrestricted funds|**10**|1,062|(187)|
|Restricted funds|**10**|(127)|(618)|
|**Total Charity funds**||**935**|**(805)**|



The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006. 

The members have not required the company to obtain an audit for the period in question in accordance with section 476 of Companies Act 2006. 

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. 

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. 

The financial statements were approved and authorized for issue by the Trustees on 30 June 2024 and signed on their behalf by: 


………………………… Shauna Creary (Co-Chair) 

The notes on pages 12 to 17 form part of these financial statements. 

11 



**SOUTH ESSEX AFRICAN CARIBBEAN ASSOCIATION ( A charitable Incorporated organization)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023** 

## **1. General information** 

South Essex African Caribbean Association a charitable incorporated organization (CIO), was registered as a charity 19th August 2020. It is governed by a CIO - Foundation model constitution and operates in accordance with this constitution. The Charity's principal office address is Ironworks, 90 High street, Southend-On-Sea, Essex SS1 1JN 

The financial statements are presented in Great British Pound (£) which is the Charity'’s functional and presentation currency. 

## **2. Accounting policies** 

## **2.1 Basis of preparation of financial statements** 

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. 

South Essex African Caribbean Association 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. 

## **2.2 Income** 

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. 

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. 

## **2.3 Expenditure** 

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. 

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. 

All expenditure is inclusive of irrecoverable VAT. 

12 



## **SOUTH ESSEX AFRICAN CARIBBEAN ASSOCIATION ( A charitable Incorporated organization)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023** 

## **3    Donations, legacies and grants** 

||**Unrestricted**|**Restricted**|**Total**|**Unrestricted**|**Restricted**|**Total**|
|---|---|---|---|---|---|---|
||**Funds**|**Funds**|**Funds**|**Funds**|**Funds**|**Funds**|
||**2023**|**2023**|**2023**|**2022**|**2022**|**2022**|
||**£**|**£**|**£**|**£**|**£**|**£**|
|Donations|430|-|430|650|1,800|2,450|
|Grant income|-|17,150|17,150|8,400|25,900|34,300|
|**Total donations**|**430**|**17,150**|**17,580**|**9,050**|**27,700**|**36,750**|
|**and legacies**|||||||



## **4    Income from charitable activities** 

||**Unrestricted**|**Restricted**|**Total**|**Unrestricted**|**Restricted**|**Total**|
|---|---|---|---|---|---|---|
||**Funds**|**Funds**|**Funds**|**Funds**|**Funds**|**Funds**|
||**2023**|**2023**|**2023**|**2022**|**2022**|**2022**|
||**£**|**£**|**£**|**£**|**£**|**£**|
|Workshop Income|1,750|-|1,750|1,199|-|1,199|
|**Total**|||||||
|**charitable activities**|**1,750**|**-**|**1,750**|**1,199**|**-**|**1,199**|



## **5    Analysis of expenditure on charitable activities** 

**Summary by fund type** 

|Community Cultural<br>Activities|**Unrestricted**<br>**Restricted**<br>**Total**<br>**Unrestricted**<br>**Restricted**<br>**Total**<br>**Funds**<br>**Funds**<br>**Funds**<br>**Funds**<br>**Funds**<br>**Funds**<br>**2023**<br>**2023**<br>**2023**<br>**2022**<br>**2022**<br>**2022**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>931<br>16,659      17,590<br>2,386<br>40,494            42,880|
|---|---|
||**931**<br>**16,659**<br>**17,590**<br>**2,386**<br>**40,494**<br>**42,880**|



13 



**SOUTH ESSEX AFRICAN CARIBBEAN ASSOCIATION ( A charitable Incorporated organization)** 

## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023** 

## **6   Expenditure on charitable activities (continued) Analysis of expenditure on charitable activities by category** : 

|Accountancy fees<br>Artist fees<br>Event- Other costs<br>Events - hospitality and running expenses<br>Events cost - catering<br>ICT software, consumables and subscriptions<br>Independent Examination fees<br>Insurances<br>Membership subscription<br>Printing, Postage and Stationery<br>Project management fees<br>Promotion and publicity<br>Statutory fees<br>Transportation<br>Travelling and accommodation<br>Venue hire<br>Website cost<br>Workshop costs - tutors|**2023**<br>**2022**<br>**£**<br>**£**<br>500<br>1,000<br>-<br>14,132<br>8,481<br>10,227<br>2,481<br>844<br>-<br>150<br>-<br>74<br>400<br>400<br>-<br>159<br>-<br>96<br>30<br>572<br>1,000<br>3,375<br>141<br>3,229<br>-<br>40<br>-<br>635<br>-<br>408<br>2,808<br>1,440<br>-<br>200<br>1,749<br>5,900|
|---|---|
||**17,590**<br>**42,880**|



## Independent examiner's remuneration: 

The independent examiner's remuneration amounts to an independent examiner fee of £400 ( **2022** £400), and accounts preparation services of £500 ( **2022** £1000). 

## **7  Trustee remuneration and expenses** 

During the period, no Trustees has been paid project management fees for the administration and management  of the Charity's activities. The value of Trustees' remuneration and other benefits was as follows: 

|||**2023**|**2022**|
|---|---|---|---|
|||**£**|**£**|
|Josephine Melville|Project management fees|-|725|
|Expenses were paid to 1 (**2022**3) Trustees during the year £30 (**2022**£1,514)||||



14 



## **SOUTH ESSEX AFRICAN CARIBBEAN ASSOCIATION ( A charitable Incorporated organization)** 

## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023** 

## **8   Creditors: amounts falling due within one year** 

## **Accruals** 

|Project management fees<br>Event - Other costs<br>Accountancy fees|**2023**<br>**2022**<br>**£**<br>**£**<br>-<br>650<br>-<br>1,711<br>1,800<br>900|
|---|---|
||**1,800**<br>**3,261**|



## **9 Movement in funds** 

||**Bal at**<br>**01 Sept 2022**|**Income**|**Expenditure**|**Transfers**|**Bal at**<br>**31 Aug 2023**|
|---|---|---|---|---|---|
||**£**|**£**|**£**|**£**|**£**|
|**Unrestricted fund**|||||-|
|General Fund|(187)|2,180|(931)|-|1,062|
||(187)|2,180|(931)|-|1,062|
|**Restricted fund**||||||
|East Beach Festival - NLCF|(750)|10,000|(12,103)|-|(2,853)|
|ECDF|132|-|-|-|132|
|EC Foundation|-|7,150|(4,556)|-|2,594|
||(618)|17,150|(16,659)|-|(127)|
|||||||
|**Total**|**(805)**|**19,330**|**(17,590)**|**-**|**935**|



15 



## **SOUTH ESSEX AFRICAN CARIBBEAN ASSOCIATION ( A charitable Incorporated organization)** 

## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023** 

## **10 Statement of Funds Statement of funds - current period** 

||**Bal at**<br>**01 Sept 2022**|**Income**|**Expenditure**|**Transfers**|**Bal at**<br>**31 Aug 2023**|
|---|---|---|---|---|---|
||**£**|**£**|**£**|**£**|**£**|
|Restricted fund|(618)|17,150|(16,659)|-|(127)|
|Unrestricted fund|(187)|2,180|(931)|-|1,062|
|**Total**|**(805)**|**19,330**|**(17,590)**|**-**|**935**|



## **Statement of funds - Prior period** 

||**Bal at**<br>**01 Sept 2021**|**Income**|**Expenditure**|**Transfers**|**Bal at**<br>**31 Aug 2022**|
|---|---|---|---|---|---|
||**£**|**£**|**£**|**£**|**£**|
|Restricted fund|3,776|27,700|(40,494)|8,400|(618)|
|Unrestricted fund|350|10,249|(2,386)|(8,400)|(187)|
|**Total**|**4,126**|**37,949**|**(42,880)**|**-**|**(805)**|



## **11 Summary of funds** 

## **Summary of funds - current period** 

||**Bal at**<br>**01 Sept 2022**|**Income**|**Expenditure**|**Transfers**|**Bal at**<br>**31 Aug 2023**|
|---|---|---|---|---|---|
||**£**|**£**|**£**|**£**|**£**|
|General Fund|(187)|2,180|(931)|-|1,062|
|East Beach Festival - NLCF|(750)|10,000|(12,103)|-|(2,853)|
|ECDF|132|-|-|-|132|
|EC Foundation|-|7,150|(4,556)|-|2,594|
|**Total**|**(805)**|**19,330**|**(17,590)**|**-**|**935**|



## **Summary of funds - Prior period** 

||**Bal at**<br>**01 Sept 2021**|**Income**|**Expenditure**|**Transfers**|**Bal at**<br>**31 Aug 2022**|
|---|---|---|---|---|---|
||**£**|**£**|**£**|**£**|**£**|
|ROSCA|-|4,000|-|(4,000)|-|
|Southend Council|-|4,400|-|(4,400)|-|
|General Fund|350|1,849|(2,386)|-|(187)|
|East Beach Festival - NLCF|-|21,800|(30,680)|8,130|(750)|
|ECDF|-|3,200|(3,068)|-|132|
|EC Foundation|3,776|-|(3,906)|130|-|
|SCIF|-|2,700|(2,840)|140|-|
|**Total**|**4,126**|**37,949**|**(42,880)**|**-**|**(805)**|



16 



## **SOUTH ESSEX AFRICAN CARIBBEAN ASSOCIATION ( A charitable Incorporated organization)** 

## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023** 

## **12  Analysis of net assets between funds** 

||**Unrestricted**|**Restricted**|**Total**|**Unrestricted**|**Restricted**|**Total**|
|---|---|---|---|---|---|---|
||**Funds**|**Funds**|**Funds**|**Funds**|**Funds**|**Funds**|
||**2023**|**2023**|**2023**|**2022**|**2022**|**2022**|
||**£**|**£**|**£**|**£**|**£**|**£**|
|Current Assets|2,862|(127)|2,735|1,743|713|2,456|
|Current Liabilities|(1,800)|-|(1,800)|(2,361)|(900)|(3,261)|
|**Net assets**|**1,062**|**(127)**|**935**|**(618)**|**(187)**|**(805)**|



## **13  Financial instruments** 

|**13  Financial instruments**|||
|---|---|---|
||**2023**|**2022**|
||**£**|**£**|
|Financial assets|2,735|2,456|
|Financial Liabilities|1,800|3,261|



Financial assets and liabilities are measured at fair value through income and expenditure comprise of cash and cash equivalent 

17