## **SPLENDID THINGS**
**(A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **SPLENDID THINGS (A COMPANY LIMITED BY GUARANTEE) YEAR ENDED 31 MARCH 2021**
## **CONTENTS**
|COMPANY INFORMATION|1|
|---|---|
|TRUSTEES' ANNUAL REPORT|2-5|
|STATEMENT OF FINANCIAL ACTIVITIES||
||6|
|BALANCE SHEET||
||7|
|NOTES TO THE FINANCIAL STATEMENTS||
||8|
**1**
## **SPLENDID THINGS**
## **(A COMPANY LIMITED BY GUARANTEE) YEAR ENDED 31 MARCH 2021**
## **COMPANY INFORMATION**
## **CONSTITUTION**
Splendid Things is a company limited by guarantee and a registered charity governed by its memorandum and articles of association. Charity Number 1109119 Company Number 05383423.
## **DIRECTORS AND TRUSTEES**
The directors of the charitable company ("the charity") are its trustees for the purpose of the charity law and throughout this report are collectively referred to as the trustees. The trustees serving during the year and since the year end were as follows:
## **TRUSTEES**
James Warnock Donna Palmer Ian Ellington Karlene Mangaroo Nicholas Stanley
**SECRETARY** Liat Currie 37 - 45 Windsor **REGISTERED OFFICE** Street Liverpool L8 1XE **INDEPENDENT EXAMINER** Yasir Abbas ACCA Williams Stanley & CO
**BANKERS** The Cooperative Bank **COMPANY NUMBER** 05383423
**REGISTERED CHARITY NUMBER** 1109119
**2**
## **SPLENDID THINGS**
**(A COMPANY LIMITED BY GUARANTEE) Company Number 1109119 (England and Wales)**
## **TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021**
The trustees are pleased to present their annual report, together with the financial statements of the charity for the year ended 31 March 2021. Company information set out on page 1 forms part of this report. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's trust deed, the Charities Act 2011 and the Statement of Recommended Practice: Accounting and Reporting by Charities 2005.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
Splendid Things was incorporated on 4 March 2005 and was registered as a charity on 19 April 2005.
## **Trustees**
The names of the present trustees, and of all who held office during the year, are shown on page 1 of these accounts.
No remuneration is paid to any trustee for their services as a trustee. No trustee had a material interest in any of the charity's contracts during the year. The trustees meet regularly to discuss all aspects of the charity's affairs.
They set policy to be administered by the chief executive, who manages the charity on a day to day basis.
In accordance with the provisions of the Articles of Association, at the forthcoming Annual General Meeting all trustees retire from office and being eligible offer themselves for re-election.
## **Statement of Trustees' Responsibilities**
The trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required to give a true and fair view of the state of affairs of the charity and of the net incoming or outgoing 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;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
**3**
**SPLENDID THINGS**
## **(A COMPANY LIMITED BY GUARANTEE) TRUSTEES' ANNUAL REPORT CONTINUED FOR THE YEAR ENDED 31 MARCH 2021 Statement of Trustees' Responsibilities**
## **(Cont'd)**
The trustees are responsible for keeping adequate accounting records that 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.
## **Recruitment, Appointment and Training of Trustees**
Splendid Things seeks to have a wide range of skills and experience on its Board, contained within a small number of individuals. Applications are welcome from potential Board members regardless of, for example, ethnic origin or disability. Normally trustees are recruited either through referral by an existing Board member or by direct approaches from individuals. Skills audits of Board members are conducted, and any identified training needs are provided.
## **Risk Assessment**
The major risks to which the charity is exposed concern business risk and operating risk and in particular the availability of funds for operating costs. The Board confirm that the day to day systems and controls operated and regularly monitored by the organisation are designed to mitigate those risks.
## **OBJECTIVES AND ACTIVITIES OF THE CHARITY**
The objects of the charity are
- to advance the education of the public in all forms of media services including television production, film production and any other related activities in particular by promoting public awareness, setting up educational programmes and training schemes for the benefit of the inhabitants of Merseyside.
- The promotion for the public benefit of urban regeneration in areas of social and economic deprivation (and in particular the district of Liverpool 8) by relief of poverty and unemployment, provision of education, training and work experience, providing financial and technical assistance and workspace at favourable rates to media related activities.
## **Summary of the Policies Adopted to Further the Objects**
The trustees define the policies and oversee their
implementation by management, to enable the charity to fulfil its
aims and objectives. The trustees pay due regard to guidance issued by the Charities Commission on public benefit in deciding which activities the charity should undertake. The policies are as detailed in the charity's business plan which documents the strategy for action.
**4**
## **SPLENDID THINGS (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' ANNUAL REPORT CONTINUED FOR THE YEAR ENDED 31 MARCH 2021 Contribution of**
## **Volunteers**
The trustees are not paid for their services and as such are the most valuable volunteers to the charity.
## **ACHIEVEMENTS AND PERFORMANCE**
This year Splendid Things was fortunate to secure HMG Furlough money, as well as donations for the work that its staff and volunteers did with other Liverpool 8 charities to provide a food bank and similar support for the most needy people in the neighbourhood.
Splendid Things was able to complete a few, small projects with local young people in the periods when it was able and ended the year satisfied that it had survived this most difficult of years.
## **FINANCIAL REVIEW**
The Statement of Financial Activities appears on page 7. The Charity’s Income came principally from Toxteth TV (£7,500) HMRC JRS (£24,383) and other small, project grants and fees (£9,653). These monies were mostly spent on staff to deliver the various projects.
## **PLANS FOR FUTURE PERIODS**
Splendid Things continued to maintain a minimum of staffing and some projects during 2020/2021. It is hoped that this maintenance of activity will create a secure foundation for more to happen in the future.
**5**
## **SPLENDID THINGS (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' ANNUAL REPORT CONTINUED FOR THE YEAR ENDED 31 MARCH 2021 FINANCIAL REVIEW (Cont'd)**
## **RELATED PARTIES**
The charity has a close relationship with Toxteth TV. Current trustees, Donna Palmer, James Warnock, Ian Ellington, Karlene Mangaroo and Nicholas Stanley are also directors of Toxteth TV. During the year Toxteth TV allowed Splendid Things full use of its building and facilities whenever required free of charge. Splendid Things carried out filming and other services on projects for Toxteth TV.
## **SHARE CAPITAL**
The charity is limited by guarantee and as such does not have a share capital.
## **EQUAL OPPORTUNITIES**
The charity employs equal opportunities at every level.
## **POLITICAL AND CHARITABLE CONTRIBUTIONS**
During the period there were no political or charitable donations.
## **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. It was approved by the board on 29[th] November 2021 and signed on its behalf.
Nicholas Stanley Trustee
**6**
## **SPLENDID THINGS (A COMPANY LIMITED BY GUARANTEE)**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021**
|||**UNRESTRICTED**|**UNRESTRICTED**|||
|---|---|---|---|---|---|
||**NO T E**||**RESTRICTED**|**TOTAL**|**TOTAL**|
|||**FUNDS**|**FUNDS**|**FUNDS**|**FUNDS**|
||||||**31/3/2021**|
||||||**31/3/2020**|
|**Incoming Resources**|**2**|||||
|Incoming Resources from||||||
|Charitable Activities||49,174||49,174|37,024|
|Incoming Resources from|Generated|||||
|Funds||||||
|Investment Income||-|-|-||
|||-------------|------------|----------|----------|
|**Total Incoming**||||||
|**Resources**||49,174||49,174|37,024|
|**Resources Expended**|**3**|||||
|Charitable Activities||51,419||39,613|35,238|
|Governance Costs||-||||
|||----------|----------|----------|----------|
|**Total Resources**||||||
|**Expended**||51,419||39,613|35,238|
|Net (Outgoing)/Incoming|Resources|(2,245)||(2,244)|1,786|
|Fund Balances Brought Forward 1 April||||||
|2020||6,351||6,351|4,565|
|||----------|----------|------------|------------|
|Fund Balances Carried Forward 31 March||||||
|2021||4,106|0|4,107|6,351|
|||=====|=====|======||
|||=|=|=|=======|
The notes on pages 9 to 13 form part of these financial statements.
7
## **SPLENDID THINGS (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET AS AT 31 MARCH 2021**
|**NOT**
**E**|**2021**
**2020**
**FIXED ASSETS**
Tangible Assets
-
-
**CURRENT ASSETS**
Debtors
2,500
946
Cash at Bank and in Hand
6,1
31
2,912
---------
---------
8,631
3,859
**CREDITORS- AMOUNTS**
**FALLING DUE WITHIN ONE YEAR**
(4,525) (2,073)
---------
---------
**NET CURRENT ASSETS**
4,106
1,785
---------
---------
**NET ASSETS**
4,106 1,785
=====
=
=====
=
**FUNDS**
Unrestricted Funds
4,106 1,785
Restricted Funds
-
-
---------
---------
4,106
1,785
=====
=
=====
=|
|---|---|
|7||
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|8||
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|9||
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|12||
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The trustees consider that the charity was entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006. Members have not required the company, under section 476 of the Companies Act 2006, to obtain an audit for the year ended 31 March 2021.
The trustees acknowledge their responsibilities for,
- (a)ensuring the charity keeps accounting records which comply with section 386 of the Companies Act 2006, and;
- (b)preparing accounts which give a true and fair view of the state of affairs of the
charity as at 31 March 2021, and of its net incoming resources for the year then ended, in accordance with the requirements of section 396 of the Companies Act 2006 and which otherwise comply with the requirements of the Companies Act relating to accounts so far as applicable to the charity.
The financial statements which have 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 were
approved by the board on 29[th] November 2021 and signed on its behalf by:-
Nicholas Stanley Trustee
The notes on pages 9 to 13 form part of these financial statements.
8
## **SPLENDID THINGS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021 1 ACCOUNTING POLICIES**
## **BASIS OF PREPARATION OF THE FINANCIAL STATEMENTS**
The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP 2005) issued in March 2005, applicable UK Accounting Standards and the Companies Act 2006 and the Financial Reporting Standard for Smaller Entities (effective April 2008).
## **BASIS OF PREPARATION OF THE ACCOUNTS - GOING CONCERN**
The charity has a small surplus at 31[st] March 2021 and will try very hard to hold on to it. The financial statements do not include any adjustments that would be necessary if the charity ceased to trade.
## **TANGIBLE FIXED ASSETS AND DEPRECIATION**
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Equipment
25% per annum straight line basis
## **DONATIONS AND GRANTS**
Income from donations and grants, including capital grants is included in incoming resources when these are receivable except as follows:
- when donors specify that donations and grants given to the charity must be used in future accounting periods
- when donors impose conditions which have to be fulfilled before the charity becomes entitled to such income and not included in incoming resources until the pre-conditions have been met.
- when donors specify that donations and grants, including capital grants, are for particular restricted purposes, which do not amount to pre-conditions regarding entitlement, this income is included in incoming resources of restricted funds when receivable.
## **INTEREST RECEIVABLE**
Interest is included in incoming resources when receivable by the charity.
## **SPLENDID THINGS**
**(A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 31 MARCH 2021**
## **FUND**
## **ACCOUNTING**
Funds held by the charity are either:-
• Unrestricted general funds - these are funds which can be
used in
accordance with the Charitable objects at the discretion of the Trustees
• Restricted Funds - these are funds that 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 a particular restricted purpose.