SOHO HOUSE FOUNDATION
Reference and Administra�ve Informa�on
The Soho House Founda�on is a community interest company and governed by its ar�cles of associa�on.
| associa�on. | ||
|---|---|---|
| Registered name of the Company: | The Soho House Founda�on | |
| Charity Number (England and Wales) | 1199179 | |
| Registered Ofce and opera�onal address | 180 Strand | |
| London WC2R 1EA | ||
| Board of Trustees: | Date of appointment | Term |
| Nick Jones(Chair) | 26 May 2022 | For life |
| Kimani Roquemore | 26 May 2022 | 4 years |
| Louise McCabe | 26 May 2022 | 3 years |
| Michael Penrose | 26 May 2022 | 3 years |
| Mark Anderson | 26 May 2022 | 4 years |
| Vanessa Xuereb | 26 May 2022 | 4 years |
| Haseena Farid | 26 May 2022 | 3 years |
Advisors:
Bankers HSBC UK Bank plc, Reading Solicitors Wrigley’s Solicitors LLP 3rd Floor, 3 Wellington Place, Leeds LS1 4AP
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SOHO HOUSE FOUNDATION REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 December 2022
Soho House Founda�on for the year ended 31 December 2022.
Company Informa�on
The organisa�on is a Charitable Incorporated Organisa�on (CIO -Founda�on) registered 1 June 2022.
Purposes and Aims
We believe that talent is everywhere, but opportunity is not. The crea�ve industries today don’t accurately represent our society. Underrepresented groups in the crea�ve economy based on ethnicity or socio-economic background face barriers to succeed.
The Soho House Founda�on exists to provide resources to fund and empower crea�ve young people and ar�sts from underrepresented and lower socioeconomic backgrounds. We aim to unlock talent, confidence and skills through educa�on and training, providing opportuni�es for those who have previously experienced barriers in accessing careers in the arts.
How our work delivers our aims
The Soho House Founda�on’s approach is to provide funding to carefully selected third party chari�es aligned with its mission via an annual grant programme. The grant programme will be available to chari�es providing services to crea�ve young people in 4 geographical territories, focussing on local communi�es where Soho House has a presence. The first grant programme will be open to charitable organisa�ons working in the UK, Europe, the Americas and Asia.
The Soho House Founda�on commits to working only with trusted registered charitable organisa�ons to deliver programmes to support socially or economically disadvantaged young people. We also make provision for suppor�ng disaster relief from �me to �me. Our charitable purposes therefore come under the categories of general charitable purposes, but also educa�on and training, children and young people.
Our Achievements
opera�on.
During the repor�ng period the Trustees
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Applied for a bank account (Established Feb 2024, therefore, there was no income or expenditure during the repor�ng period)
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Undertook Trustee/Charity Governance training
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Accepted a pledge of £5,000 from Soho House to launch the Founda�on.
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global grant programme in February 2023
Financial Review
There was no income or expenditure made by the Soho House Founda�on during the period June 2022 – December 2022, as the Company was in the process of opening its first bank account.
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Principal Funding Sources
As stated, there was no income paid into a bank accountduring the repor�ng period. However, during the repor�ng period, Soho House Ltd pledged £5,000 ini�al funding and confirmed its inten�on to donate £100,000 to the Soho House Founda�on in 2023, when the bank account is opera�onal. The purpose of this dona�on is to fund the first Global Grant Programme in 2023.
Soho House also provides pro-bono administra�ve and accoun�ng support to the Founda�on.
Plans for future periods – 2023 Grant Programme
Our 2023 worldwide grant programme will be aimed at increasing access to the arts and crea�ve industries for people who face economic or other barriers to inclusion.
We will be looking for impac�ul charitable organisa�ons who have crea�vity and inclusion at their core, along with a proven track record in programme delivery.
Applicant organisa�ons are assessed on criteria including:
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Their ability to provide transforma�ve opportuni�es for young crea�ves
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The way the programme will address inequality of opportunity
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The geographical loca�on of the programme
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The inclusivity of their organisa�on
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Their track record in delivering impac�ul programmes.
We prefer to support programmes run by smaller organisa�ons, located in communi�es close to the point of programme delivery. We do not insist on being the sole funder of a project. We expect the grant to be used before the end of August 2024.
also fund projects that support crea�ves of any age who have previously faced social or economic barriers to inclusion and missed out on opportuni�es to progress.
there will be 4 grants of £25,000 available. A maximum of one grant per year will be made in any one geographical region.
Geographical regions covered by the grant programme:
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Americas: Atlanta, Aus�n, Chicago, Detroit, Los Angeles, Mexico City, Miami, Nashville, New York, San Francisco, São Paulo, St Vincent & the Grenadines, Toronto, Washington DC.
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Asia: Bangkok, Hong Kong, Mumbai, Singapore.
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Europe/Middle East: Amsterdam, Barcelona, Berlin, Copenhagen, Dublin, Istanbul, Lisbon, Milan, Mykonos, Paris, Rome, Stockholm, Tel Aviv, Zurich.
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UK: Brighton, London, Manchester, Oxfordshire, Somerset
We aim to avoid burdening organisa�ons with a complex applica�on process. We will ask for a short ini�al expression of interest to confirm the organisa�on’s eligibility. At this point we will review key governance policies and the organisa�ons’ governing documents as part of our due diligence.
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Eligible groups will then be invited to complete an applica�on form describing the impact our grant funding would make for the young crea�ves their organisa�on supports.
Structure, Governance and Management
Governing Document
The Soho House Founda�on is a charitable incorporated organisa�on ( CIO – Founda�on) registered with the charity commission and governed by its Cons�tu�on.
Appointment of Trustees
individuals for appointment, the charity has regard for the skills, knowledge and experience needed
Trustee Induc�on and Training
All 7 trustees were appointed in June 2022 as part of the incorpora�on of the charity. The Trustee board includes a number of individuals who are experienced in charity trusteeship. All Trustees were invited to a�end charity trustee training regarding their legal obliga�ons, and received wri�en guidance on public benefit, legal responsibili�es and charitable purpose, as well as a copy of the CIO’s cons�tu�on.
Organisa�on
The Trustees (who are also directors of the charity for the purposes of company law) administer the charity and usually meet quarterly. To facilitate effec�ve opera�ons and the day to day running of the Soho House Founda�on, the Trustees have delegated authority, within the terms of delega�on approved by Trustees, to the Soho House Limited House Founda�ons (CSR) team, and to the Soho House finance team who will provide regular management accounts. The delegated powers include managing the charity by implemen�ng the policy and strategy within the budget approved by Trustees and advising the Trustees in rela�on to such policy, strategy and budget. The Trustees ensure that appropriate financial and opera�ng controls are in place to ensure that the Charity’s purpose is followed by se�ng authority levels for opera�ng expenditure and funding grants.
Trustees’ Responsibili�es in rela�on to Financial Statements
The Trustees (who are also directors of the charity for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and regula�on.
a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing the statements the trustees are required to
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Select suitable accoun�ng policies and them apply them consistently
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Observe the methods and principles in the Chari�es SORP
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Make judgements and accoun�ng es�mates that are reasonable and prudent
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State whether applicable UK accoun�ng standards and statements of recommended prac�ce have been followed, subject to any material departures disclosed and explained in the financial statements; and
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- presume
The trustees are responsible for keeping proper accoun�ng records which disclose with reasonable accuracy at any �me the financial posi�on of the charity and which enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the preven�on and detec�on of fraud and other irregulari�es.
For the Year Ending 31 December 2022
informa�on included on the charitable company’s website. Legisla�on in the United Kingdom governing the prepara�on and dissemina�on of financial statements may differ from legisla�on in other jurisdic�ons.
In the event of the company being wound up members of the CIO have no liability to contribute to its assets and liabili�es. The trustees are the only members of the charity. This en�tles them only to vo�ng rights. The trustees have no beneficial interest in the company.
NB: No income or expenditure was made during the repor�ng period June 2022 – December 31, 2022, and therefore the trustees considered that no independent review of our accounts was necessary.
Signed on behalf of the Board of Trustees by
Nick Jones
Chair of Trustees
31st December 2023
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Soho House Founda�on
2022 (6 months from date of incorpora�on)
| Income from: | £ | |
|---|---|---|
| Dona�ons | 5,000 | Pledged by Soho House |
| Charitable ac�vi�es | 0 | |
| Other trading ac�vi�es | 0 | |
| _____ | ||
| Total income | 5,000 | |
| Expenditure on: | ||
| Raising funds | 0 | |
| Charitable ac�vi�es | 0 | |
| _____ | ||
| Net income and movement in funds | 5,000 | |
| Total funds brought forward | 0 | |
| Total funds carried forward | 5,000 |
Between June 2022 and December 2022, Trustees were in the process of opening a bank account, therefore no dona�ons or expenditure were made during the repor�ng period.
Soho House Founda�on
Balance Sheet
| As at 31 December 2022 | 2022 | |
|---|---|---|
| £ | ||
| Current assets | 0 | |
| Debtors | 5,000 | |
| Cash at bank and in hand | 0 | No bank account open at 31/12/22 |
| Liabili�es | ||
| Creditors: amounts falling due within 1 year | 0 | |
| Net current assets | 5,000 | |
| Net assets | 5,000 | |
| Funds | ||
| Unrestricted funds | 5,000 | |
| General funds | 0 | |
| Total charity funds | 5,000 |
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Companies Act 2006 (the Act) rela�ng to the audit of the financial statements for the year by virtue of sec�on 477 (2).
The trustees acknowledge the responsibili�es for:
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(1) Ensuring that the company keeps proper accoun�ng records which comply with sec�on 386 of the Act and
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(2) company as at the end of the financial year.
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies’ regime.
Approved by the trustees on 31[st] December 2023 and signed on their behalf by
Nick Jones Chair Soho House Founda�on
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