Business Review
SETPOINT Hertfordshire, now trading as STEMPOINT East, is an educational charity involved in a wide variety of projects, all with the aim of inspiring young people about Science, Technology, Engineering and Mathematics (STEM), and encouraging them to go on to further study and careers in these areas.
The organisation runs Primary and secondary school workshops; teacher training events and networking sessions and a range of complimentary STEM activities, including competitions and challenges for schools and promotion of CREST Awards in Hertfordshire and Essex and the East of England.
SETPOINT Hertfordshire holds the contract as the STEM Ambassador Hub for the East of England (covering Bedfordshire, Cambridgeshire, Hertfordshire, Norfolk and Suffolk), part of a national programme of volunteers managed by STEM Learning nationally and funded by UKRI. There are around 3,000 STEM Ambassador volunteers in the East of England who are mobilised to support teachers, pupils and other youth community groups to inspire greater engagement with STEM.
SETPOINT Hertfordshire also administers the Nuffield Research Placement scheme, which is funded by the Nuffield Foundation and run by STEM Learning, across a wide region (covering Herts, Beds, Berks, Bucks, Cambs, Essex, Norfolk, Oxon, Suffolk and Greater London and Surrey) to offer high-quality research placements in organisations and institutions to students in Year 12 at school or college. In 2021 this programme of activity was online only again, because of the difficulties with face-to-face interaction due to Covid-19. More than 250 students took part. SETPOINT Hertfordshire is the largest deliverer of this programme in the country.
Overall, the Charity provided STEM enrichment and enhancement activities to thousands of pupils across the whole age range from Key Stage 1 to Key Stage 5, as well as networking events for teachers in primary and secondary schools, which were particularly popular during lockdown due to Covid-19.
The achievements of SETPOINT Hertfordshire are greatly enhanced by the in-kind support of a number of other partners, in particular MBDA UK Limited, who have hosted the organisation at their offices in Stevenage for 19 years, although staff have been working from home since March 2020. SETPOINT greatly appreciates the in-kind support donated by MBDA UK Ltd. In return SETPOINT assists the company with their own STEM outreach programmes to deliver a broad range of STEM activities for students and teachers from local schools. SETPOINT collaborates with local employers, academic and professional institutions, and seeks to develop new links with other regional stakeholders, including the Local Enterprise Partnership and Careers & Enterprise Company.
The Board of Trustees are responsible for the management of the business risks of the charity.
Registered number: 04466571
SETPOINT HERTFORDSHIRE DIRECTORS' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021
SETPOINT HERTFORDSHIRE Directors' Report and Financial Statements For The Year Ended 31 July 2021
Contents
| Page | |
|---|---|
| Company Information | 1 |
| Directors' Report | 2 |
| Accountant's Report | 3 |
| Income and Expenditure Account | 4 |
| Balance Sheet | 5—6 |
| Notes to the Financial Statements | 7—9 |
| The following pages do not form part of the statutory accounts: | |
| Detailed Income and Expenditure Account | 10—11 |
SETPOINT HERTFORDSHIRE Company Information For The Year Ended 31 July 2021
| Directors | Mr Anthony Mckay |
|---|---|
| Dr David Storey | |
| Mrs Kathleen Smith | |
| Mrs Deborah Cole | |
| Stephen Neate | |
| Ms Emma Flawn | |
| Mrs Stephanie Baxter | |
| Dr Mark Wilkinson | |
| Mrs Jennifer Maskrey | |
| Secretary | Ms Helen Spencer |
| Company Number | 04466571 |
| Registered Office | Mbda PO BOX 19 Pb211 |
| Six Hills Way | |
| Stevenage | |
| Hertfordshire | |
| SG1 2DA | |
| Accountants | TaxAssist Accountants |
| 34 High Street | |
| Stevenage | |
| Hertfordshire | |
| SG1 3EF |
Page 1
SETPOINT HERTFORDSHIRE Company No. 04466571 Directors' Report For The Year Ended 31 July 2021
The directors present their report and the financial statements for the year ended 31 July 2021 .
Statement of Directors' Responsibilities
The trustees who are also directors for the purposes of the Companies Act are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors 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 company and of the surplus or deficit of the company for that period. In preparing the financial statements the directors are required to:
-
select suitable accounting policies and then apply them consistently;
-
make judgments and accounting estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Directors
The directors who held office during the year were as follows:
Mr Anthony Mckay Dr David Storey Mrs Kathleen Smith Mrs Deborah Cole Stephen Neate Ms Emma Flawn Mrs Stephanie Baxter APPOINTED 07/10/2020 Dr Mark Wilkinson APPOINTED 07/10/2020 Mrs Jennifer Maskrey APPOINTED 07/10/2020
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
order of the boardB
Ms Helen Spencer
Company Secretary
5 October 2021
Page 2
SETPOINT HERTFORDSHIRE Accountant's Report For The Year Ended 31 July 2021
Report to the directors on the preparation of the unaudited statutory accounts of SETPOINT HERTFORDSHIRE for the year ended 31 july 2021
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of SETPOINT HERTFORDSHIRE for the year ended 31 july 2021 which comprise the Income and Expenditure Account, the Balance Sheet and the related notes from the accounting records and from information and explanations you have given to us.
As a practising member of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://www.ifa.org.uk/about-us/acting-in-the-publicinterest/memberregulations.
This report is made solely to the directors of SETPOINT HERTFORDSHIRE , as a body, in accordance with the terms of our engagement letter dated 09 March 2018. Our work has been undertaken solely to prepare for your approval the accounts of SETPOINT HERTFORDSHIRE and state those matters that we have agreed to state to the directors of SETPOINT HERTFORDSHIRE , as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SETPOINT HERTFORDSHIRE and its directors, as a body, for our work or for this report.
It is your duty to ensure that SETPOINT HERTFORDSHIRE has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of SETPOINT HERTFORDSHIRE . You consider that SETPOINT HERTFORDSHIRE is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of SETPOINT HERTFORDSHIRE . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
30 September 2021
TaxAssist Accountants
34 High Street Stevenage Hertfordshire SG1 3EF
Page 3
SETPOINT HERTFORDSHIRE Income and Expenditure Account For The Year Ended 31 July 2021
| Notes TURNOVER Cost of sales GROSS SURPLUS Administrative expenses OPERATING SURPLUS Other interest receivable and similar income SURPLUS FOR THE FINANCIAL YEAR |
2021 £ 327,654 (2,279 ) 325,375 (269,338 ) 56,037 1,268 57,305 |
2020 £ 273,736 (44,790 ) |
|---|---|---|
| 228,946 (225,289 ) |
||
| 3,657 1,385 |
||
| 5,042 |
The notes on pages 7 to 9 form part of these financial statements.
Page 4
SETPOINT HERTFORDSHIRE Balance Sheet As at 31 July 2021
| Notes FIXED ASSETS Tangible Assets 3 CURRENT ASSETS Stocks 4 Debtors 5 Cash at bank and in hand Creditors: Amounts Falling Due Within One Year 6 NET CURRENT ASSETS (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS Income and Expenditure Account MEMBERS' FUNDS |
2021 £ £ 1,941 1,941 - 51,804 426,575 478,379 (52,686 ) 425,693 427,634 427,634 427,634 427,634 |
2021 £ £ 1,941 1,941 - 51,804 426,575 478,379 (52,686 ) 425,693 427,634 427,634 427,634 427,634 |
2020 £ £ 3,653 3,653 (7,000 ) 4,495 412,286 409,781 (43,105 ) 366,676 370,329 370,329 370,329 370,329 |
2020 £ £ 3,653 3,653 (7,000 ) 4,495 412,286 409,781 (43,105 ) 366,676 370,329 370,329 370,329 370,329 |
|---|---|---|---|---|
| 1,941 425,693 |
3,653 366,676 |
|||
| 478,379 (52,686 ) |
409,781 (43,105 ) |
|||
| 427,634 | 370,329 | |||
| 427,634 | 370,329 | |||
| 427,634 | 370,329 | |||
| 427,634 | 370,329 |
Page 5
SETPOINT HERTFORDSHIRE Balance Sheet (continued) As at 31 July 2021
For the year ending 31 July 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
-
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Obehalf of the board
Dr David Storey
Director
5 October 2021
The notes on pages 7 to 9 form part of these financial statements.
Page 6
SETPOINT HERTFORDSHIRE Notes to the Financial Statements For The Year Ended 31 July 2021
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance Computer Equipment 33% straight line
1.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| Office and administration | 2021 8 8 |
2020 8 |
|---|---|---|
| 8 |
Page 7
SETPOINT HERTFORDSHIRE Notes to the Financial Statements (continued) For The Year Ended 31 July 2021
3. Tangible Assets
| Cost As at 1 August 2020 As at 31 July 2021 Depreciation As at 1 August 2020 Provided during the period As at 31 July 2021 Net Book Value As at 31 July 2021 As at 1 August 2020 4. Stocks Stock - work in progress 5. Debtors Due within one year Trade debtors 6. Creditors: Amounts Falling Due Within One Year Trade creditors Other taxes and social security Other creditors - Nuffield Bursaries Accruals and deferred income |
Plant & Machinery £ 133 |
Plant & Machinery £ 133 |
Computer Equipment £ 5,050 |
Total £ 5,183 |
|---|---|---|---|---|
| 133 | 5,050 | 5,183 | ||
| 22 28 |
1,508 1,684 |
1,530 1,712 |
||
| 50 | 3,192 | 3,242 | ||
| 83 | 1,858 | 1,941 | ||
| 111 | 3,542 | 3,653 | ||
| 2021 £ - - 2021 £ 51,804 51,804 2021 £ 2,371 4,684 37,647 7,984 52,686 |
2020 £ (7,000 ) |
|||
| (7,000 ) | ||||
| 2020 £ 4,495 |
||||
| 4,495 | ||||
| 2020 £ 324 5,478 29,998 7,305 |
||||
| 43,105 |
Page 8
SETPOINT HERTFORDSHIRE Notes to the Financial Statements (continued) For The Year Ended 31 July 2021
7. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
8. General Information
SETPOINT HERTFORDSHIRE is a private company, limited by guarantee, incorporated in England & Wales, registered number 04466571 . The registered office is Mbda PO BOX 19 Pb211, Six Hills Way, Stevenage, Hertfordshire, SG1 2DA.
Page 9
SETPOINT HERTFORDSHIRE Detailed Income and Expenditure Account For The Year Ended 31 July 2021
| TURNOVER Donations & grants Schools income Contract income COST OF SALES Opening work in progress Direct costs (Cost of sales) Closing stock and work in progress GROSS SURPLUS Administrative Expenses Wages and salaries Employers NI Employers pensions - defined contributions scheme Recruitment costs Staff training Travel and subsistence expenses Hire of equipment and storage rent Computer software, consumables and maintenance Repairs, renewals and maintenance Insurance Printing, postage and stationery Advertising and marketing costs Telecommunications and data costs Accountancy fees Legal fees Professional fees Subscriptions Bank charges |
2021 £ £ 34,275 7,875 285,504 327,654 - 9,279 (7,000 ) (2,279 ) 325,375 220,866 13,481 6,040 - 147 19 3,804 3,571 83 2,541 220 9,067 766 2,442 - 755 3,706 81 |
2021 £ £ 34,275 7,875 285,504 327,654 - 9,279 (7,000 ) (2,279 ) 325,375 220,866 13,481 6,040 - 147 19 3,804 3,571 83 2,541 220 9,067 766 2,442 - 755 3,706 81 |
2020 £ £ 3,821 33,558 236,357 273,736 7,000 37,790 - (44,790 ) 228,946 184,976 11,894 5,040 545 1,088 67 3,448 5,758 - 2,449 1,080 - 652 2,286 26 500 3,891 60 ...CONTINUED |
|---|---|---|---|
| 327,654 (2,279 ) |
|||
| 220,866 13,481 6,040 - 147 19 3,804 3,571 83 2,541 220 9,067 766 2,442 - 755 3,706 81 |
|||
| 325,375 |
Page 10
SETPOINT HERTFORDSHIRE Detailed Income and Expenditure Account (continued) For The Year Ended 31 July 2021
| Other office costs Depreciation Sundry expenses OPERATING SURPLUS Other interest receivable and similar income Bank interest receivable SURPLUS FOR THE FINANCIAL YEAR |
38 1,711 - |
(269,338 ) | - 1,531 (2 ) |
(225,289 ) |
|---|---|---|---|---|
| 1,268 | 1,385 | |||
| 56,037 1,268 |
3,657 1,385 |
|||
| 57,305 | 5,042 |
Page 11
Issuer
TaxAssist Accountants
Document generated Tue, 5th Oct 2021 16:23:52 BST
Document fingerprint 599a6311371e31a50ebe9b9f0ff00ecb
Parties involved with this document
Document processed
Party + Fingerprint
Tue, 5th Oct 2021 17:03:53 BST Tue, 5th Oct 2021 20:17:18 BST Tue, 5th Oct 2021 20:17:18 BST
Ms Helen Clare Spencer - Signer (bd2466a6a4a4aafc1d68dd70d2880765) Dr David Storey - Signer (a4a6b88cb375813b0c674b045e939ac5) Lesley Alexander - Copied In (2a7eb0ebbc2920d585af32fbbbacda99)
Audit history log
Date
Action
Tue, 5th Oct 2021 20:17:18 BST Tue, 5th Oct 2021 20:17:18 BST Tue, 5th Oct 2021 20:17:18 BST Tue, 5th Oct 2021 20:09:40 BST Tue, 5th Oct 2021 17:03:53 BST Tue, 5th Oct 2021 17:03:53 BST Tue, 5th Oct 2021 17:03:53 BST Tue, 5th Oct 2021 17:03:05 BST Tue, 5th Oct 2021 16:24:03 BST Tue, 5th Oct 2021 16:23:54 BST
Tue, 5th Oct 2021 16:23:54 BST
Tue, 5th Oct 2021 16:23:54 BST Tue, 5th Oct 2021 16:23:54 BST Tue, 5th Oct 2021 16:23:54 BST
Tue, 5th Oct 2021 16:23:54 BST Tue, 5th Oct 2021 16:23:54 BST
The envelope has been signed by all parties. (86.140.130.65) Sent a copy of the envelope to Lesley Alexander . (86.140.130.65) Dr David Storey signed the envelope. (86.140.130.65) Dr David Storey viewed the envelope. (86.140.130.65) Document emailed to party email (18.132.210.124) Sent the envelope to Dr David Storey for signing. (80.6.27.100) Ms Helen Clare Spencer signed the envelope. (80.6.27.100) Ms Helen Clare Spencer viewed the envelope. (80.6.27.100) Document emailed to party email (35.177.107.174) Sent the envelope to Ms Helen Clare Spencer for signing. (35.176.172.175)
Envelope has been set to automatically remind the active signer every 5 day(s). (35.176.172.175) Lesley Alexander has been assigned to this envelope. (35.176.172.175) Dr David Storey has been assigned to this envelope. (35.176.172.175) Ms Helen Clare Spencer has been assigned to this envelope. (35.176.172.175) Envelope generated. (35.176.172.175) Document generated with fingerprint 599a6311371e31a50ebe9b9f0ff00ecb. (35.176.172.175)
Tue, 5th Oct 2021 16:23:54 BST Document generated with fingerprint 9bd0151389bd13e5be0ec210ba4e6864. (35.176.172.175) Tue, 5th Oct 2021 16:23:54 BST Document generated with fingerprint 89cafb11bb330888af0befa613122ba9. (35.176.172.175) Tue, 5th Oct 2021 16:23:52 BST Envelope generated with fingerprint 5f48f4bee238be10308096c52ee9b634 (35.176.231.177)
SETPOINT HERTFORDSHIRE – Charity No. 1094254
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF SETPOINT HERTFORDSHIRE
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2021, which are set out on pages 1 to 11.
Responsibilities and basis of report
As the charity’s trustees of the Company (who are also the directors of the company 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 for this year 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
The company’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Financial Accountants.
I have completed my examination. I confirm that no material matters have come to my attention (other than that disclosed below *) which gives me cause to believe that:
-
accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
-
the accounts do not accord with such records; or
• the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 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
- the accounts have not been prepared in accordance with the Charities SORP (FRS102).
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.
Brian Alexander FFA - 243201 TaxAssist Accountants 34 High Street Stevenage Hertfordshire SG1 3EF
Dated: 30 September 2021