REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
for the Year Ended 31st December 2021 |
for |
Cimatheque Foundation |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
for the Year Ended 31st December 2021 |
for |
Cimatheque Foundation |
Cimatheque Foundation |
Contents of the Financial Statements |
for the Year Ended 31st December 2021 |
Page |
Report of the Trustees | 1 | to | 2 |
Independent Examiner's Report | 3 |
Statement of Financial Activities | 4 |
Balance Sheet | 5 | to | 6 |
Notes to the Financial Statements | 7 | to | 11 |
Cimatheque Foundation (Registered number: 08315897) |
Report of the Trustees |
for the Year Ended 31st December 2021 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st December 2021. The trustees have adopted the provisions 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 (FRS 102) (effective 1 January 2019). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
To advance the education of the public in the knowledge, understanding and appreciation of the art of film, in particular Arab film, and to promote the study and appreciation of film for the benefit of the public by providing screenings, lectures, discussions, workshops and a film archive collection. |
Significant activities |
The Charity is involved in the following projects; |
Helping to establish and maintain an alternative multi-purpose film centre in Cairo dedicated to celebrating the diversity of film and supporting the needs of independent filmmakers in Egypt while working to build a strong platform for alternative cinema. Services and programmes include film screenings, specialized workshops, a library, a moving image archive, and a lab for super 8mm and 16mm analogue film. |
Revisiting Memory - a film archive project comprising of film screenings, exhibitions and workshops |
Public benefit |
The Trustees have referred to the guidance contained in the Charity Commission's general guidance on the public benefit when reviewing the Charity's aims and objectives and in planning future activities and in setting the grant making policy for the period. |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
In the period end the Trust has received donations and grants in total of £21,808 |
During the period end the Trustees have expended resources totalling a net amount of £43,530 as per Detailed Statement of Financial Activities. |
FINANCIAL REVIEW |
Reserves policy |
The reserves held by the charity are to be expended on receipt of the necessary confirmation from the charity's counterparts in Egypt. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The Charity is controlled by its governing document, a memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
Recruitment and appointment of new trustees |
New Trustees will be appointed based on their experience and credentials. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Cimatheque Foundation (Registered number: 08315897) |
Report of the Trustees |
for the Year Ended 31st December 2021 |
Trustees |
Company Secretary |
Independent Examiner |
Spencer Hyde Limited |
272 Regents Park Road |
London |
N3 3HN |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Cimatheque Foundation |
Independent examiner's report to the trustees of Cimatheque Foundation ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st December 2021. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also 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 Company 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 your charity's accounts as 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 Company 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 (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
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. |
Abdallah Gurnah |
Spencer Hyde Limited |
272 Regents Park Road |
London |
N3 3HN |
13th September 2022 |
Cimatheque Foundation |
Statement of Financial Activities |
for the Year Ended 31st December 2021 |
2021 | 2020 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
EXPENDITURE ON |
Charitable activities |
Other |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
Transfers between funds | 7 | (13,783 | ) | 13,783 | - | - |
Net movement in funds | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 789,397 |
Cimatheque Foundation (Registered number: 08315897) |
Balance Sheet |
31st December 2021 |
2021 | 2020 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS/(LIABILITIES) |
FUNDS | 7 |
Unrestricted funds | 382,297 |
Restricted funds | 407,100 |
TOTAL FUNDS | 789,397 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2021. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2021 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
Cimatheque Foundation (Registered number: 08315897) |
Balance Sheet - continued |
31st December 2021 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
Cimatheque Foundation |
Notes to the Financial Statements |
for the Year Ended 31st December 2021 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
2. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31st December 2021 nor for the year ended 31st December 2020. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31st December 2021 nor for the year ended 31st December 2020. |
Cimatheque Foundation |
Notes to the Financial Statements - continued |
for the Year Ended 31st December 2021 |
3. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
2021 | 2020 |
Average number of staff |
4. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
EXPENDITURE ON |
Charitable activities |
16 | 55,878 |
Other |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
Transfers between funds | 18,737 | (18,737 | ) | - |
Net movement in funds |
RECONCILIATION OF FUNDS |
Total funds brought forward | 365,720 | 407,100 |
TOTAL FUNDS CARRIED FORWARD | 382,297 | 407,100 | 789,397 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Other debtors |
The other debtors consist of a loan granted to Cimatheque - Alternative Film Centre Company LLC, Egypt, In accordance with the loan agreement between the parties . |
The loan has been agreed to be provided for specific approved charitable work only, which falls within the ambit of the grants received by the Foundation and has been given for the following activities; |
Development of Cimatheque Alternative Film Centre |
Kurrasat Project |
The NAAS@CIMATHEQUE Arab Arthouse Cinema Workshop |
Cimatheque Foundation |
Notes to the Financial Statements - continued |
for the Year Ended 31st December 2021 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued |
Revisiting Memory |
The loan has been provided interest free and is repayable on demand |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade creditors | ( |
) |
Other creditors |
Accrued expenses |
7. | MOVEMENT IN FUNDS |
Net | Transfers |
movement | between | At |
At 1.1.21 | in funds | funds | 31.12.21 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 382,297 | (2,163 | ) | (13,783 | ) | 366,351 |
Restricted funds |
Kurrasat Project | 77,465 | - | - | 77,465 |
Cimatheque Alternative Film Centre | 322,884 | - | - | 322,884 |
NAAS at CIMATHEQUE Arab Art House Cinema Workshop |
6,751 |
(19,558 |
) |
13,783 |
976 |
(19,558 | ) |
TOTAL FUNDS | (21,721 | ) | 767,676 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | - | (2,163 | ) | (2,163 | ) |
Restricted funds |
NAAS at CIMATHEQUE Arab Art House Cinema Workshop |
21,809 |
(41,367 |
) |
(19,558 |
) |
TOTAL FUNDS | ( |
) | (21,721 | ) |
Cimatheque Foundation |
Notes to the Financial Statements - continued |
for the Year Ended 31st December 2021 |
7. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net | Transfers |
movement | between | At |
At 1.1.20 | in funds | funds | 31.12.20 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 365,720 | (2,160 | ) | 18,737 | 382,297 |
Restricted funds |
Kurrasat Project | 77,465 | - | - | 77,465 |
Cimatheque Alternative Film Centre | 322,884 | - | - | 322,884 |
NAAS at CIMATHEQUE Arab Art House Cinema Workshop |
6,751 |
18,737 |
(18,737 |
) |
6,751 |
407,100 | 18,737 | (18,737 | ) | 407,100 |
TOTAL FUNDS | 772,820 | 16,577 | - | 789,397 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 1 | (2,161 | ) | (2,160 | ) |
Restricted funds |
NAAS at CIMATHEQUE Arab Art House Cinema Workshop |
74,615 |
(55,878 |
) |
18,737 |
TOTAL FUNDS | 74,616 | (58,039 | ) | 16,577 |
A current year 12 months and prior year 12 months combined position is as follows: |
Net | Transfers |
movement | between | At |
At 1.1.20 | in funds | funds | 31.12.21 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 365,720 | (4,323 | ) | 4,954 | 366,351 |
Restricted funds |
Kurrasat Project | 77,465 | - | - | 77,465 |
Cimatheque Alternative Film Centre | 322,884 | - | - | 322,884 |
NAAS at CIMATHEQUE Arab Art House Cinema Workshop |
6,751 |
(821 |
) |
(4,954 |
) |
976 |
407,100 | (821 | ) | (4,954 | ) | 401,325 |
TOTAL FUNDS | 772,820 | (5,144 | ) | - | 767,676 |
Cimatheque Foundation |
Notes to the Financial Statements - continued |
for the Year Ended 31st December 2021 |
7. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 1 | (4,324 | ) | (4,323 | ) |
Restricted funds |
NAAS at CIMATHEQUE Arab Art House Cinema Workshop |
96,424 |
(97,245 |
) |
(821 |
) |
TOTAL FUNDS | 96,425 | (101,569 | ) | (5,144 | ) |
The Reserves held are towards the ongoing projects of the Charity, which are to be completed after the period end. |
8. | RELATED PARTY DISCLOSURES |