**Registered number: CE029044 Charity number: 1199056**
## **THE ALINA COJOCARU FOUNDATION**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE PERIOD ENDED 30 SEPTEMBER 2023**
## **THE ALINA COJOCARU FOUNDATION**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the charity, its Trustees and advisers**|1|
|**Trustees' report**|2 - 3|
|**Trustees' responsibilities statement**|4|
|**Independent examiner's report**|5|
|**Statement of financial activities**|6|
|**Balance sheet**|7|
|**Notes to the financial statements**|8 - 12|
**THE ALINA COJOCARU FOUNDATION**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE PERIOD ENDED 30 SEPTEMBER 2023**
**Trustees** David Banks Michael Carpenter, Chair Raluca Gold-Fuchs Iain Webb **Company registered number** CE029044 **Charity registered number** 1199056 **Registered office** 14 Dynevor Road Richmond Surrey TW10 6PF **Independent Examiner** Julian Flitter Goodman Jones LLP 29/30 Fitzroy Square London W1T 6LQ
Page 1
## **THE ALINA COJOCARU FOUNDATION**
## **TRUSTEES' REPORT FOR THE PERIOD ENDED 30 SEPTEMBER 2023**
The Trustees present their annual report together with the financial statements of the charity for the period 23 May 2022 to 30 September 2023.
The Receipts and Payments Accounts and Statement of assets and liabilities have been prepared in accordance with Guidance issued by the Charity Commission and comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Constitution of The Alina Cojocaru Foundation (“the charity”).
## **Objectives and activities**
## **a. Policies and objectives**
The objects of the charity are the advancement of ballet, dance and the performing arts by supporting the creation, development and performance of artistic productions; and the advancement of education by supporting practical training in and outreach activities related to ballet, dance and the performing arts and by developing public understanding and appreciation of these arts.
## **b. Strategies for achieving objectives**
The charity provides funding to support the creation, development and performance of artistic works in the field of ballet dance, music, film and other art forms and to support ACWorkroom Ltd and other related organisations and individuals in providing outreach work to schools, educational establishments and the community in the field of arts, particularly ballet, dance and music.
The trustees of the charity confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit, 'Charities and public benefit'.
## **Achievements and performance**
## **Review of activities**
The charity was formed on 10 December 2021 with the structure of an Association CIO. It was registered with the Charity Commission, with number 1199056, on 23 May 2022. The financial statements for the period ended 30 September 2023 are the first financial statements of the charity. There are therefore no comparative figures for the previous reporting period.
During the period the charity received donations of £123,237. Of this amount £108,200 was received to fund grants to ACWorkroom Ltd for the production of a new ballet commissioned by Alina Cojocaru, to be called La Strada. Grants of £56,500 were made to ACWorkroom Ltd during the period to fund the creation of the choreography for La Strada.
The results of the charity's activities are summarised on page 6.
Page 2
**THE ALINA COJOCARU FOUNDATION**
## **TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 30 SEPTEMBER 2023**
## **Financial review**
## **a. Reserves policy**
The trustees aim to maintain reserves at a level that would cover any future commitments or expenditure. The trustees consider that the amount of reserves will be dictated by future donations and will consist of donations received by the charity that are yet to be donated to individual charities and causes.
At the balance sheet date the charity had reserves of £65,066, of these £3,366 were unrestricted and £61,700 restricted for the production of La Strada.
## **b. Principal funding**
The charity is principally funded by donations from private individuals, trusts and foundations.
## **Structure, governance and management**
## **a. Constitution**
The charity is an Association Charitable Incorporated Organisation (“CIO”), with Constitution dated 23 May 2022. The registered charity number is 1199056.
## **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 Constitution.
## **c. Organisational structure and decision-making policies**
The organisational structure and decision making of the charity is governed by its Constitution.
At the trustees' meetings of the CIO the trustees agree the strategy and areas of activity of the charity. This includes donations, reserves and risk management policies and performance. The day-to-day administration of donations is the responsibility of the trustees.
## **d. Plans for future periods**
The funding of the charity will continue to be reviewed. The trustees expect to make further grants to ACWorkroom Ltd to continue the funding of the creation, production and staging of La Strada.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................
**Michael Carpenter**
Date: 12-07-24
Page 3
## **THE ALINA COJOCARU FOUNDATION**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE PERIOD ENDED 30 SEPTEMBER 2023**
The trustees 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).
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year that give a true and fair view of the state of affairs of the charity and of 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 then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgements 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 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, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the charity’s Constitution. 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 and signed on its behalf by:
................................................
## **Michael Carpenter**
Date: 12-07-24
Page 4
## **THE ALINA COJOCARU FOUNDATION**
## **INDEPENDENT EXAMINER'S REPORT FOR THE PERIOD ENDED 30 SEPTEMBER 2023**
## **Independent Examiner's Report to the Trustees of THE ALINA COJOCARU FOUNDATION ('the charity')**
I report to the charity Trustees on my examination of the accounts of the charity for the period ended 30 September 2023.
## **Responsibilities and Basis of Report**
As the Trustees of the charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent Examiner's Statement**
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:
1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities.
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: 15-07-24
## **Julian Flitter**
Goodman Jones LLP
Page 5
**THE ALINA COJOCARU FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE PERIOD ENDED 30 SEPTEMBER 2023**
|**Note**
**Income from:**
Donations and legacies
2
Investments
3
**Total income**
**Expenditure on:**
Charitable activities
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2023**
**£**
**10,787**
**101**
**10,888**
**7,522**
**7,522**
**3,366**
**3,366**
**3,366**|**Restricted**
**funds**
**2023**
**£**
**118,200**
**-**
**118,200**
**56,500**
**56,500**
**61,700**
**61,700**
**61,700**|**Total**
**funds**
**2023**
**£**
**128,987**
**101**
**129,088**|
|---|---|---|---|
||||**64,022**
**64,022**|
||||**65,066**|
||||**65,066**
**65,066**|
The Statement of Financial Activities includes all gains and losses recognised in the period.
The notes on pages 8 to 12 form part of these financial statements.
Page 6
**THE ALINA COJOCARU FOUNDATION REGISTERED NUMBER: CE029044**
## **BALANCE SHEET AS AT 30 SEPTEMBER 2023**
|**Note**
**Fixed assets**
**Current assets**
Debtors
8
Cash at bank and in hand
Creditors: amounts falling due within one year
9
**Net current assets**
**Total assets less current liabilities**
**Total net assets**
**Charity funds**
Restricted funds
10
Unrestricted funds
10
**Total funds**|**5,750**
**62,316**
**68,066**
**(3,000)**|**2023**
**£**
**-**|
|---|---|---|
|||**-**
**65,066**|
|||**65,066**|
||||
|||**65,066**|
|||**61,700**
**3,366**|
||||
|||**65,066**|
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 authorised for issue by the Trustees and signed on their behalf by:
................................................
## **Michael Carpenter**
Date: 12-07-24
The notes on pages 8 to 12 form part of these financial statements.
Page 7
**THE ALINA COJOCARU FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2023**
## **1. Accounting policies**
## **1.1 Accounting convention**
The financial statements have been prepared to give a 'true and fair' view and have been prepared in accordance with Guidance issued by the Charity Commission and comply with the Charities Act 2011, The Charity (Accounts and Reports) Regulations 2008 and the provisions of the Constitution of The Alina Cojocaru Foundation (“the charity”).
The statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts.
The Alina Cojocaru Foundation constitutes a public benefit entity as defined by FRS 102.
The charity is an Association Charitable Incorporated Organisation (“CIO”) registered in England and Wales and the address of its registered office is 14 Dynevor Road, Richmond, Surrey TW10 6PF.
## **1.2 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.
## **1.3 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.
## **1.4 Grants making**
Grants payable are charged in the period when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the period end are noted as a commitment, but not accrued as expenditure..
## **1.5 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
## **1.6 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
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**THE ALINA COJOCARU FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2023**
## **1. Accounting policies (continued)**
## **1.7 Cash funds**
The charity holds both restricted funds, held to finance grants to AC Workroom Ltd for the creation, production and staging of the ballet La Strada, as well as unrestricted funds.
## **1.8 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
## **2. Income from donations and legacies**
|**Unrestricted**
**funds**
**2023**
**£**
Donations
5,037
Gift Aid receivable
5,750
10,787|**Restricted**
**funds**
**2023**
**£**
118,200
-
118,200|**Total**
**funds**
**2023**
**£**
**123,237**
**5,750**
**128,987**|
|---|---|---|
## **3. Investment income**
||**Unrestricted**|**Total**|
|---|---|---|
||**funds**|**funds**|
||**2023**|**2023**|
||**£**|**£**|
|Bank interest|101|**101**|
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**THE ALINA COJOCARU FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2023**
## **4. Analysis of grants**
||**Total**|**Total**|
|---|---|---|
||**grants**|**funds**|
||**2023**|**2023**|
||**£**|**£**|
|Grants to ACWorkroom Ltd|56,500|**56,500**|
The grants payable were made to ACWorkroom Ltd for the production of La Strada.
## **5. Analysis of expenditure by activities**
||**Grant**|||
|---|---|---|---|
||**funding of**|**Support**|**Total**|
||**activities**|**costs**|**funds**|
||**2023**|**2023**|**2023**|
||**£**|**£**|**£**|
|Grants Payable|56,500|7,522|**64,022**|
## **Analysis of support costs**
|Independent examination fee
Professional fees
Bank charges|**Grants**
**Payable**
**2023**
**£**
3,000
4,444
78
7,522|**Total**
**funds**
**2023**
**£**
**3,000**
**4,444**
**78**
**7,522**|
|---|---|---|
## **6. Independent examiner's remuneration**
The independent examiner's remuneration amounts to an independent examiner fee of £2,500 + VAT.
## **7. Trustees' remuneration and expenses**
During the period, no trustees received any remuneration or other benefits.
During the period ended 30 September 2023, no Trustees expenses have been incurred.
Page 10
## **THE ALINA COJOCARU FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2023**
|**8.**
**Debtors**
**Due within one year**
Gift aid receivable
**9.**
**Creditors: Amounts falling due within one year**
Accruals and deferred income|**2023**
**£**
**5,750**|
|---|---|
|||
||**5,750**|
||**2023**
**£**
**3,000**|
Page 11
**THE ALINA COJOCARU FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2023**
## **10. Statement of funds**
## **Statement of funds - current period**
|**Unrestricted funds**
General Funds - all funds
**Restricted funds**
La Strada
**Total of funds**|**Income**
**£**
**10,888**
**118,200**
**129,088**|**Expenditure**
**£**
**(7,522)**
**(56,500)**
**(64,022)**|**Balance at**
**30**
**September**
**2023**
**£**
**3,366**|
|---|---|---|---|
||||**61,700**|
||||**65,066**|
Restricted fund: La Strada - this is a fund set up to provide funding for the ballet La Strada produced by ACWorkroom Ltd
## **11. Analysis of net assets between funds**
## **Analysis of net assets between funds - current period**
|**Unrestricted**
**funds**
**2023**
**£**
Current assets
6,366
Creditors due within one year
(3,000)
**Total**
3,366|**Restricted**
**funds**
**2023**
**£**
61,700
-
61,700|**Total**
**funds**
**2023**
**£**
**68,066**
**(3,000)**
**65,066**|
|---|---|---|
## **12. Related party transactions**
During the period, the charity paid grants of £56,500 to ACWorkroom Ltd. The sole shareholder of ACWorkroom Ltd is Alina Cojocaru, the Founder of the charity. Under the charity’s Constitution, Alina Cojocaru, as Founder, has certain rights including in relation to the use of her name by the charity and the appointment and removal of trustees.
Page 12