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2020-12-31-accounts

Registered number: 07962584 Charity number: 1146349

CAMBRIDGE SCIENCE CENTRE

(A Company Limited by Guarantee)

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

(A Company Limited by Guarantee)

CAMBRIDGE SCIENCE CENTRE

CONTENTS
Page
Reference and Administrative Details of the Company, its Trustees and Advisers 1
Trustees' Report 2 - 9
Independent Examiner's Report 10 - 11
Statement of Financial Activities 12
Balance Sheet 13 - 14
Statement of Cash Flows 15
Notes to the Financial Statements 16 - 34

(A Company Limited by Guarantee)

CAMBRIDGE SCIENCE CENTRE

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2020

Trustees Dr D D Cleevely CBE, Chairman
Prof A Brand FRS
Ms E Crilly (resigned 7 July 2020)
Ms A H East
Dr C K Lennard
Mr J Short
Dr L J Spokes (appointed 20 May 2020)
Mr J Drori (appointed 17 June 2020)
Company registered
number
07962584
Charity registered
number
1146349
Registered office
44 Clifton Road
Cambridge
CB1 7ED
Chief executive officer
Ms H Slaski
Independent Examiners
Peters Elworthy & Moore
Chartered Accountants
Salisbury House
Station Road
Cambridge
CB1 2LA
Bankers
Barclays Bank plc
9 - 11 St Andrews Street
Cambridge
CB2 3AA
Solicitors
Taylor Vinters
Merlin Place
Milton Road
Cambridge
CB4 0DP
Patrons
Lord Rees of Ludlow
Professor Dame Athene Donald

Page 1

CAMBRIDGE SCIENCE CENTRE

(A Company Limited by Guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2020

The Trustees (who are directors for the purpose of the Companies Act) present their annual report together with the financial statements of the Company for the year 1 January 2020 to 31 December 2020. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (second edition October 2019).

Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted

OBJECTIVES AND ACTIVITIES

Purposes and Goals

The purpose of Cambridge Science Centre is to inspire personal interest in science and technology, thereby helping to develop a more scientifically literate and skilled population.Our main objectives, as stated in our Memorandum of Association, are to advance and develop:

We achieve these by engaging the public and school pupils with hands on activities with a science, technology, engineering or maths (“STEM”) theme. In a number of cases, our activities or exhibits have been developed in collaboration with researchers from the Cambridge academic and technology business communities. We perform outreach activities specifically to reach underserved communities as identified to us by government data or educational organisations.

Objectives for the year

To build our local and national profile the main objectives for 2020 were to:

Page 2

CAMBRIDGE SCIENCE CENTRE

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

Achieving just over 40% above plan in the first two months of 2020, the worldwide COVID pandemic brought a dramatic and swift change to our operations. On Friday 13 March we welcomed more than 60 young learners to our Science Centre and science communicators were busy out on school roadshows engaging with more than 150 learners. With no historical precedent, the following day saw closure of schools and public locations, social distancing and lockdown. A full calendar of school visits to the Science Centre and outreach in schools and communities were cancelled or postponed indefinitely.

No longer able to provide person-to-person engagements with our audiences as we had anticipated, we needed to rapidly “pivot” to find different ways to continue - to break down the barriers to STEM engagement and to show future generations that no matter who they are or where they come from, STEM opportunities can be ‘for them’.

From the announcement of lockdown and the closure of schools, the switch to digital media was intense and immediate across all areas of education. Families and young learners were overwhelmed by the enormous range and choice available to them. We therefore aimed to do something that was different, filling in gaps in engagement and ensuring our STEM was trustworthy, interactive and fun; adapting our product portfolio has allowed us to meet our goals.

We welcomed two new Executive Council member organisations and at the end of the year were in discussions with 3 other companies for 2021.

We continued to measure our progress against our agreed 3 Year Business Plan and revised our strategy for ensuring our delivery, fund raising and marketing capacity are properly aligned to meet our charitable objectives under changing and challenging circumstances.

The Board of Trustees confirm that they have complied with the general duty in Section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit.

Volunteers

We continued to benefit from the support of volunteers throughout 2020 despite the lockdown periods who were involved in the development of scientific and educational content, and in particular the creation of a new webbased VirtualSchoolTrip booking and delivery system. These volunteers came from a range of backgrounds, including people working in local STEM companies and our Executive Council members.

ACHIEVEMENTS AND PERFORMANCE

Appointments and Retirements

We have continued to appoint new staff to meet the needs of the charity. Two new trustee appointments were made Dr Lucinda Spokes in May and Mr Jon Drori in June. Dr Elizabeth Crilly retired as a trustee in July.

Staff changes continued throughout 2020. The Chief Operating Officer left in March and, following the lockdown due to the COVID pandemic, re-appointment was suspended. The Head of Delivery resigned in August and, as a consequence, the Programmes Manager was promoted to Head of Programmes and Delivery. Two new science communicators were appointed in March. The Delivery Team staff continued to work very hard to provide lively and high quality engagement through the new digital media and to participate enthusiastically in the new working arrangements.

With the implementation of lockdown periods, staff have worked from home for the vast majority of the period from March 2020. We put in place Working at Home assessments and the HSE recommended Display Screen Equipment (DSE) workstation assessment which were completed with all staff. No concerns were raised.

Page 3

CAMBRIDGE SCIENCE CENTRE

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

Onsite programmes and outreach operations

Our new initiatives have reached large numbers of children, teachers and families across the country from Newcastle upon Tyne to Bournemouth and Cardiff to Lowestoft and many, many places in between. These initiatives are:

  1. OpenUpScience. A weekly themed, paper magazine packed full of exciting and inspiring STEM activities for children to do at home. Aimed at children who were not able to access digital resources and were struggling to continue school work online, we delivered through new partnerships with food banks and community enterprises each week.

  2. VirtualSchoolTrip. Our way of still letting schools have that “Trip-to-the-Centre” experience. Using school digital resources, teachers and students have access to a private page on the CSC website where they can watch two of our curriculum-based shows; a limited timeframe ensures a private “lesson”. We were able to show to schools, free of charge, giving young learners STEM enhanced learning and, equally importantly, a change from the norm. An enhanced version also included Utter Science, a question and answer session where young learners can ask their own questions directly of one of our science communicators.

  3. Science@6. A weekly YouTube programme with ~10 minutes of fun STEM including activities to do at home, competitions, quizzes, guest appearance videos and clips from parts of our shows or about our exhibits. This is lively and hands-on, very much in the “Blue Peter” style with solid science delivered in a less formal way. It was streamed every Monday at 6.00pm so that, at the end of the day, families could participate together and include parents as important role models.

  4. CSC Online and social media gave access to hot news, ideas for STEM at home, fun facts and more to offer parents and children fun, outside and inside activities. Our followings and engagement rates have increased across all platforms.

We are very proud to say that we have achieved the following outcomes:

During 2020 we welcomed 3,115 members of the public and 960 students from 21 schools to the Science Centre, until lockdown in March 2020 required us to close our 260 m² gallery in the family-friendly part of Cambridge City with our unique, hands-on experience for children, young people, families and schools, young learners and their teachers.

The Science Centre was opened (under COVID restrictions and at 30% of usual capacity) for limited periods during 2020

Page 4

CAMBRIDGE SCIENCE CENTRE

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

In the community setting we adapted our output again, hosting PopUp Science in community settings across the region as COVID-19 requirements permitted, and publishing bumper editions of OpenUpScience with lots more STEM challenges to do at home over the summer holidays.

Other Significant events:

Partnerships and national awareness

We remain very grateful to our continuing Executive Council members (Arm, AstraZeneca, and MathWorks) and our delighted to have welcomed two new members in 2020, (Anglia Ruskin University and CEMEX) with whom we have continued to build strong partnerships, including supporting corporate STEM initiatives, providing volunteering opportunities, and enjoying our VirtualSchoolTrip show for staff and family members. We are also grateful to our Founders, Trustees and other supporters for their generosity and help.

We continued as members of the Association of Independent Museums (AIM) and the Association of Science and Discovery Centres (ASDC).

We continued to work with members of the Faculty of Education, University of Cambridge and are grateful for their support for our evaluation and impact studies.

Fundraising

Throughout 2020 fundraising efforts were dedicated to:

The total income realised for the year to 31 December 2020, from all sources, is £554,119 which is lower than 2019 (£743,390) and accounted for by the impact of COVID19 on various funding streams including those that the Charity would have been in receipt of had the Centre been able to open and accept visitors in similar numbers to the previous year.

Page 5

(A Company Limited by Guarantee)

CAMBRIDGE SCIENCE CENTRE

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

FINANCIAL REVIEW

Results

The Charity recorded a deficit of £73,836 for the period covered by these accounts compared with a surplus of £59,775 in 2019. Whilst the Charity continued to maintain tight control of costs and spending, Operational capacity was maintained despite the significant reduction in funding to ensure sufficient agility to quickly recover when restrictions are lifted.

During this time, unrestricted income achieved was £470,324 (2019 £637,723). This includes Government COVID grants of £110,668. During the year we received £83,795 (2019 £105,667) in restricted grants and donations to support specific programmes. Resources expended totalled £627,995 (2019 £683,615).

Going concern

After making appropriate enquiries, the Trustees have reasonable expectation that Cambridge Science Centre has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

Reserves policy

It is the intention of the Trustees that surplus funds will be retained to provide for the renewal of exhibits and to further the objects of Cambridge Science Centre.

It is the policy of the Trustees to have Reserves appropriate to our level of activity and financial risks. The level of the Reserves and Reserves policy are reviewed annually. The Trustees have set the Reserves target at £200,000 which they consider adequate to enable Cambridge Science Centre to meet all its liabilities including the cost of winding up its operations in the event that it could not continue.

At the year end the Charity has total funds carried forward of £163,820 (2019 £237,656) of which £39,801 (2019 £57,665) is represented by restricted funds relating to unspent donation and grant income received for particular projects continuing into 2021. The Charity has a decrease in unrestricted funds at the year-end which stood at £124,019 (2019 £179,991) of which £63,049 (2019 £92,712) is in a designated capital reserve as it relates to fixed assets which can only be realised on disposal. This leaves a general reserves balance of £60,971 (free reserves).

The Trustees have in place a three year plan to ensure sufficient unrestricted reserves are established, at the end of the three year period, to cover the costs of a wind down, if required. The Trustees remain committed to achieving this position and, whilst encouraged by progress made thus far, unfortunately COVID has had an adverse impact on financial progress and the timescale may have to be extended by one year. Additionally, two major donors have continued to provide guarantees to make up any shortfall if Cambridge Science Centre has to cease its activities and its unrestricted reserves are insufficient to meet all of its liabilities. These guarantees are limited to an aggregate amount of £200,000 (reducing as unrestricted reserves increase) and are enforceable until 31 December 2022.

Principal funding sources

Cambridge Science Centre is principally funded by grants and trusts, certain individuals and corporate donors. In addition, we are supported by sponsorships, admission charges, retail sales and collection donations.

Risk management

The Board of Trustees review identified risks to the business at each Board of Trustees’ meeting. The Trustees

Page 6

CAMBRIDGE SCIENCE CENTRE

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

maintain a risk register and that it is reviewed regularly. Finance continues to present the key risks and the Trustees carry out long term planning on a regular basis, prepare annual budgets and review the financial performance against budget at each Trustees’ meeting. Certain Trustees also participate in a fundraising subcommittee together with the CEO and Head of Development to better focus fund raising efforts of the charity. The Board of Trustees reviews the spend and cash position at each meeting.

PLANS FOR FUTURE PERIODS

Future plans

The main objectives for 2021 are to:

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Cambridge Science Centre is a company limited by guarantee and a registered charity governed by its Memorandum and Articles of Association, Charity number 1146349, Company registered number 07962584.

Organisational structure and decision making process

The Board of Trustees administers the Charity. The Board meets at least four times per year to review performance and make strategic decisions. Additional meetings of the Board may be called as necessary to manage major activities of the Charity. The Board approves an annual budget and programme of activity for the Charity. Deviations from plan or budget are reviewed at Board of Trustees meetings or more frequently in the case of exceptional circumstance. The Board seeks unanimity in decision making, but resolutions are passed by simple majority if necessary.

The Chief Executive Officer is appointed by the Trustees to manage the day to day operations of Cambridge Science Centre and has been supported by a management team comprising the, Head of Exhibitions, Head of Development, Head of Programmes & Delivery, Marketing Manager, Accounts Manager and part-time Finance Director and HR support.

Page 7

CAMBRIDGE SCIENCE CENTRE

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

Key management and personnel remuneration

The Trustees consider the Board of Trustees, the Chief Executive, Finance Director and Head of Development as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day to day basis. All trustees give of their time freely and no trustee remuneration was paid in the period. Details of trustee expenses and related party transactions are disclosed in notes 13 and 21 to the accounts.

Trustees are required to disclose all relevant interests and register them with the Chief Executive and in accordance with the Trust’s policy withdraw from decisions where a conflict of interest arises.

The pay of all charity’s staff was reviewed in November 2020 by the Remuneration Subcommittee, comprising the Chairman and two other Trustees, and will continue to be reviewed annually and normally increased in accordance with average earnings. The remuneration is bench marked with charities of a similar size and activity to ensure that the remuneration set is fair and not out of line with that generally paid for similar roles.

Recruitment and appointment of the Trustees

As set out in the Articles of Association the Board of Trustees comprises not less than three nor more than seven persons. The Directors of the Charity at incorporation (“Founding Trustees”) will serve a term of up to five years, the first retiring at three years after incorporation, the second at four, and the third at five. All Trustees, excluding the Founding Trustees, appointed following incorporation are appointed for a period of three years. All Trustees are eligible to be reappointed once to serve an additional period of three years. In exceptional circumstances and with the unanimous agreement of the Trustees, a Trustee's term of office may be extended beyond six years.

New Trustees are selected in a process involving advertising the position and a formal interview. Candidates are selected based on a number of criteria, including the diversity of the Trustees, as well as a balance of expertise or interest representing the following communities: commercial sector including public, private and not for profit business; academic and research institutions; science centre and museum industry; school and education for children and young adults; and the arts. No individuals outside of Cambridge Science Centre are responsible for the appointment of Trustees.

Induction of Trustees

Trustees receive a briefing from the CEO and/or Chairman as part of their induction. They are briefed on the objectives of Cambridge Science Centre and how our activities meet those objectives. They are provided with minutes from the Board of Trustees’ meetings over the prior six months, a financial summary of operations and a pack of CSC governance policy documents. They are also provided with a copy of the Memorandum and Articles of Association. A new Trustee is introduced to each member of the Board of Trustees by the Chairman at the next Board meeting following their induction.

Group structure

Cambridge Science Enterprises Limited (Company Number 07584257) is our wholly owned subsidiary, which was set up to manage noncharitable trading activities when these become material to the business. The company is currently dormant.

INFORMATION ON FUNDRAISING PRACTICE S

Cambridge Science Centre is committed to transparency of our operations, including fundraising, and to ensuring that all donations received are used to achieve our STEM engagement objectives. Our means of generating income and our funders do not conflict with our independence as an educational charity and reflect

Page 8

CAMBRIDGE SCIENCE CENTRE (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

the values of the CSC. We work to ensure we are fully aware of changes to regulations and to best practice within fundraising, registering with the Fundraising Regulator and the Fundraisers Code of Practice.

We received no complaints about fundraising activities during 2020.

TRUSTEES' RESPONSIBILITIES STATEMENT

The Trustees (who are also Directors of Cambridge Science Centre for the purposes of company law) 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).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

DISCLOSURE OF INFORMATION TO AUDITORS

Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:

Approved by order of the members of the board of Trustees and signed on their behalf by:

Dr D D Cleevely CBE Trustee Date:

Page 9

CAMBRIDGE SCIENCE CENTRE (A Company Limited by Guarantee)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2020

Independent Examiner's Report to the Trustees of Cambridge Science Centre ('the Company')

I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 December 2020.

Responsibilities and Basis of Report

As the Trustees of the Company (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 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 the Company'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

Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

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.

This report is made solely to the Company'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 Company'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 Company and the Company's Trustees as a body, for my work or for this report.

Page 10

CAMBRIDGE SCIENCE CENTRE

(A Company Limited by Guarantee)

INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

Signed: Michael Hewett

Dated: 27 May 2021

ACA DChA

Peters Elworthy & Moore Salisbury House Station Road Cambridge CB1 2LA

Page 11

CAMBRIDGE SCIENCE CENTRE

(A Company Limited by Guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2020

Note
INCOME FROM:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investments
6
Other income
7
TOTAL INCOME
EXPENDITURE ON:
Fundraising
8
Charitable activities
9
TOTAL EXPENDITURE
NET INCOME/(EXPENDITURE)
Transfers between funds
22
TOTAL TRANSFERS
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:
Total funds brought forward
Net movement in funds
TOTAL FUNDS CARRIED FORWARD		 Restricted
funds
2020
£
-
83,795
-
-
-
83,795
-
77,073
77,073
6,722
(24,586)
(24,586)
(17,864)
57,665
(17,864)
39,801		 Unrestricted
funds
2020
£
317,971
34,189
1,292
251
116,621
470,324
112,268
438,614
550,882
(80,558)
24,586
24,586
(55,972)
179,991
(55,972)
124,019		 Total
funds
2020
£
317,971
117,984
1,292
251
116,621
554,119
112,268
515,687
627,955
(73,836)
-
-
(73,836)
237,656
(73,836)
163,820		 Total
funds
2019
£
564,930
172,267
6,193
-
-
743,390
89,574
594,041
683,615
59,775
-
-
59,775
177,881
59,775
237,656

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 16 to 34 form part of these financial statements.

Page 12

CAMBRIDGE SCIENCE CENTRE (A Company Limited by Guarantee) REGISTERED NUMBER: 07962584

BALANCE SHEET AS AT 31 DECEMBER 2020

Note
FIXED ASSETS
Tangible assets
14
Investments
15
CURRENT ASSETS
Stocks
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within one
year
17
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
Provisions for liabilities
18
TOTAL NET ASSETS
CHARITY FUNDS
Restricted funds
22
Unrestricted funds
22
TOTAL FUNDS		 1,935
80,927
234,767
317,629
(191,858)		 2020
£
63,048
1
63,049
125,771
188,820
(25,000)
163,820
39,801
124,019
163,820		 1,456
55,130
177,672
234,258
(64,315)		 2019
£
92,712
1
92,713
169,943
262,656
(25,000)
237,656
57,665
179,991
237,656

The Company 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 year 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.

Page 13

CAMBRIDGE SCIENCE CENTRE (A Company Limited by Guarantee) REGISTERED NUMBER: 07962584

BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2020

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Dr D D Cleevely CBE

Trustee Date:

The notes on pages 16 to 34 form part of these financial statements.

Page 14

(A Company Limited by Guarantee)

CAMBRIDGE SCIENCE CENTRE

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2020

CASH FLOWS FROM OPERATING ACTIVITIES
Net cash used in operating activities
CASH FLOWS FROM INVESTING ACTIVITIES
Dividends, interests and rents from investments
Proceeds from the sale of tangible fixed assets
Purchase of tangible fixed assets
NET CASH USED IN INVESTING ACTIVITIES
CASH FLOWS FROM FINANCING ACTIVITIES
NET CASH PROVIDED BY FINANCING ACTIVITIES
CHANGE IN CASH AND CASH EQUIVALENTS IN THE YEAR
Cash and cash equivalents at the beginning of the year
CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR
The notes on pages 16 to 34 form part of these financial statements		 2020
£
58,302
251
-
(1,458)
(1,207)
-
57,095
177,672
234,767		 2019
£
52,792
282
5,287
(6,474)
(905)
-
51,887
125,785
177,672

Page 15

CAMBRIDGE SCIENCE CENTRE (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

1. GENERAL INFORMATION

The company is limited by guarantee and incorporated in England. Its registered office is Unit 44, Clifton Road, Cambridge, CB1 7ED.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied unless otherwise stated.

2. ACCOUNTING POLICIES

2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements 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) (second edition October 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Cambridge Science Centre meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 GOING CONCERN

The impact of government restrictions as a result of the COVID crisis led to the temporary closure of the Centre and a curtailment of external activities during the financial year and which has continued in 2021. In line with the Government's road map the Centre hopes to re-open for the May 2021 half term with a week full of shows and workshops, with further activities restarting in line with the further easing of restrictions in June 2021.

As mentioned in the results section of the trustee's report, 2018 represented a turning point with the opening of a new, larger Centre and the continuing hugely successful delivery of programmes in schools and the wider community. This provided a more robust platform for new fundraising strategies and general income generation which the Trustees anticipate will recover once COVID restrictions are removed.

The development team are constantly monitoring the general environment for science-based and educational charities and continue to refine their fundraising efforts accordingly. These fundraising efforts are continuing throughout the lockdown periods and the operational model has been sufficiently agile to ensure alternative approaches to delivering STEM experiences continue to be successfully rolled out. In the light of the circumstances, the Board have approved revised budgets and cashflow projections. In the period to 31 May 2022, this assumes the success of various grant applications and Executive Council support. However, if these do not come to fruition, it has made contingent plans to ensure the charity continues as a going concern.

2.3 COMPANY STATUS

The company is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.

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CAMBRIDGE SCIENCE CENTRE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

2. ACCOUNTING POLICIES (CONTINUED)

2.4 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 Company and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company 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.

2.5 INCOME

All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

2.6 INTEREST RECEIVABLE

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.7 GOVERNMENT GRANTS

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the Statement of Financial Activities at the same rate as the depreciation on the assets to which the frant relates. The deferred element of grants is included in creditors as deferred income.

Grants of a revenue nature are recognised in the Statement of Financial Activities in the same period as the related expenditure.

2.8 EXPENDITURE

Page 17

CAMBRIDGE SCIENCE CENTRE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

2. ACCOUNTING POLICIES (CONTINUED)

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.

Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.

Support costs are those costs incurred directly in support of expenditure on the objects of the company and include central project management costs.

Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.

All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated to applicable expenditure headings.

All expenditure is inclusive of irrecoverable VAT.

Expenditure on raising funds includes all expenditure incurred by the Company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

All expenditure is inclusive of irrecoverable VAT.

2.9 TANGIBLE FIXED ASSETS AND DEPRECIATION

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold improvements - 50% straight line
Fixtures and fittings - 25% straight line
Exhibit costs - 20% straight line

Page 18

CAMBRIDGE SCIENCE CENTRE (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

2. ACCOUNTING POLICIES (CONTINUED)

2.10 INVESTMENTS

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of Financial Activities.

Investments in subsidiaries are valued at cost less provision for impairment.

2.11 STOCKS

Stocks 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.

2.12 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.

2.13 CASH AT BANK AND IN HAND

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.14 LIABILITIES

Liabilities and provisions are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

2.15 FINANCIAL INSTRUMENTS

The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.16 OPERATING LEASES

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the lease term.

Page 19

(A Company Limited by Guarantee)

CAMBRIDGE SCIENCE CENTRE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

2. ACCOUNTING POLICIES (CONTINUED)

2.17 PENSIONS

The Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Company to the fund in respect of the year.

3. INCOME FROM DONATIONS AND LEGACIES

Donations and grants
Executive Council Membership
TOTAL 2020
TOTAL 2019		 Restricted
funds
2020
Unrestricted
funds
2020
£
£
-
168,221
-
149,750
-
317,971
68,082
496,848		 Total
funds
2020
£
168,221
149,750
317,971
564,930		 Total
funds
2019
£
384,930
180,000
564,930

4. INCOME FROM CHARITABLE ACTIVITIES

Grants
Admissions
TOTAL 2020
TOTAL 2019		 Restricted
funds
2020
Unrestricted
funds
2020
£
£
83,795
-
-
34,189
83,795
34,189
77,585
94,682		 Total
funds
2020
£
83,795
34,189
117,984
172,267		 Total
funds
2019
£
77,585
94,682
172,267

Page 20

(A Company Limited by Guarantee)

CAMBRIDGE SCIENCE CENTRE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

5. INCOME FROM OTHER TRADING ACTIVITIES

Income from non charitable trading activities

Unrestricted
funds
2020
£
Retail sales
1,292
TOTAL 2019
6,193		 Total
funds
2020
£
1,292
6,193		 Total
funds
2019
£
6,193

6. INVESTMENT INCOME

Unrestricted
funds
2020
£
Bank interest
251
OTHER INCOMING RESOURCES
Unrestricted
funds
2020
£
Government grants receivable
116,621		 Total
funds
2020
£
251
Total
funds
2020
£
116,621		 Total
funds
2019
£
-
Total
funds
2019
£
-

7. OTHER INCOMING RESOURCES

Other operating income represents government grants receivable under the Business Support Grants Scheme of £54,000 and Coronavirus Job Retention Scheme (CJRS) of £62,621 to cover salaries of furloughed staff.

Page 21

(A Company Limited by Guarantee)

CAMBRIDGE SCIENCE CENTRE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

8. EXPENDITURE ON RAISING FUNDS

Unrestricted
funds
2020
£
Events, exhibits and advertising
11,968
Staff costs
71,254
Support and governance costs
29,046
TOTAL 2020
112,268		 Total
funds
2020
£
11,968
71,254
29,046
112,268		 Total
funds
2019
£
8,901
52,877
27,796
89,574

9. ANALYSIS OF EXPENDITURE BY ACTIVITIES

Summary by fund type

Events and Outreach
TOTAL 2019		 Restricted
funds
2020
Unrestricted
funds
2020
£
£
77,073
438,614
83,233
510,808		 Total
funds
2020
£
515,687
594,041		 Total
funds
2019
£
594,041

Page 22

CAMBRIDGE SCIENCE CENTRE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

10. ANALYSIS OF EXPENDITURE BY ACTIVITIES

Events and Outreach
TOTAL 2019		 Activities
undertaken
directly
2020
£
249,779
335,115		 Support
costs
2020
£
265,908
258,926		 Total
funds
2020
£
515,687
594,041		 Total
funds
2019
£
594,041

Analysis of direct costs

Staff costs
Depreciation
Events, exhibits and advertising
TOTAL 2019		 Events and
Outreach
2020
£
192,767
23,229
33,783
249,779
335,115		 Total
funds
2020
£
192,767
23,229
33,783
249,779
335,115		 Total
funds
2019
£
252,674
37,065
45,376
335,115

Page 23

CAMBRIDGE SCIENCE CENTRE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

10. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED)

Analysis of support costs

Staff costs
Depreciation
Rent
Loss on disposal of assets
Membership fees
Rates and utilities
Office equipment
Bank charges
Phone and internet
Other premises costs
Legal and professional fees
Non-Audit fees / Auditors remuneration
TOTAL 2019
11.
INDEPENDENT EXAMINER'S REMUNERATION
Fees payable to the Company's independent examiner/auditor
independent examination of the annual accounts
Fees payable to the Company's independent examiner/auditor
of the annual accounts
Fees payable to the Company's independent examiner/auditor
of the annual accounts
Fees payable to the Company's independent examiner/auditor
preparation of the annual accounts
All other services not included above		 Events and
Outreach
2020
£
138,893
7,104
85,224
-
4,512
560
2,011
921
1,225
15,953
5,005
4,500
265,908
258,926
for the
for the audit
for the audit
for the		 Total
funds
2020
£
138,893
7,104
85,224
-
4,512
560
2,011
921
1,225
15,953
5,005
4,500
265,908
258,926
2020
£
1,200
-
2,400
900		 Total
funds
2019
£
109,947
7,621
84,505
405
6,918
6,431
3,959
1,105
1,703
12,887
15,105
8,340
258,926
2019
£
-
5,940
2,400
-

Page 24

CAMBRIDGE SCIENCE CENTRE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

12. STAFF COSTS

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2020
£
381,118
27,828
9,401
418,347		 2019
£
387,456
30,074
10,183
427,713

The average number of persons employed by the Company during the year was as follows:

Delivery
Business Development
Centre
Product Development
Research and Evaluation		 2020
No.
10
1
2
2
-
15		 2019
No.
19
2
2
2
1
26

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

2020 2019
No. No.
In the band £80,001 - £90,000 1 1

During the year, the key management personnel of the charity comprised the trustees, the Chief Executive Officer and the Chief Operating Officer. The total employee benefits of the key management personnel of the charity including employer's national insurance and pension contributions were £111,483 (2019 - £152,334).

13. TRUSTEES' REMUNERATION AND EXPENSES

During the year, no Trustees received any remuneration or other benefits (2019 - £NIL).

During the year ended 31 December 2020, no Trustee expenses have been incurred (2019 - £NIL).

Page 25

(A Company Limited by Guarantee)

CAMBRIDGE SCIENCE CENTRE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

14. TANGIBLE FIXED ASSETS

COST OR VALUATION
At 1 January 2020
Additions
At 31 December 2020
DEPRECIATION
At 1 January 2020
Charge for the year
At 31 December 2020
NET BOOK VALUE
At 31 December 2020
At 31 December 2019		 Leasehold
improvemen
ts
£
116,144
-
116,144
31,325
23,229
54,554
61,590
84,819		 Fixtures,
fittings and
equipment
£
33,344
1,458
34,802
26,616
6,728
33,344
1,458
6,728		 Exhibit
costs
£
209,730
-
209,730
208,565
1,165
209,730
-
1,165		 Total
£
359,218
1,458
360,676
266,506
31,122
297,628
63,048
92,712

Page 26

CAMBRIDGE SCIENCE CENTRE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

15. FIXED ASSET INVESTMENTS

COST OR VALUATION
At 1 January 2020
AT 31 DECEMBER 2020
NET BOOK VALUE
AT 31 DECEMBER 2020
AT 31 DECEMBER 2019		 Investments
in
subsidiary
companies
£
1
1
1
1

PRINCIPAL SUBSIDIARIES

The following was a subsidiary undertaking of the Company:

Name Company Registered office or principal Principal activity
number place of business
Cambridge Science Enterprises 07584257 Unit 44, Clifton Road, Cambridge, Dormant
Limited CB1 7ED
Class of Holding
shares
Ordinary 100%

The financial results of the subsidiary for the year were:

Name Net assets £ Cambridge Science Enterprises Limited 1

Page 27

(A Company Limited by Guarantee)

CAMBRIDGE SCIENCE CENTRE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

16. DEBTORS

DUE AFTER MORE THAN ONE YEAR
Other debtors
DUE WITHIN ONE YEAR
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income		 2020
£
22,590
22,590
26,330
159
6,080
25,768
80,927		 2019
£
22,590
22,590
9,176
159
-
23,205
55,130

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
Deferred income at 1 January 2020
Resources deferred during the year
Amounts released from previous periods
Deferred income at 31 December 2020		 2020
£
130,222
18,821
-
42,815
191,858
2020
£
-
30,000
-
30,000		 2019
£
39,575
8,177
3,136
13,427
64,315
2019
£
30,900
-
(30,900)
-

Deferred income relates to memberships and party and school visits.

Page 28

CAMBRIDGE SCIENCE CENTRE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

18. PROVISIONS

At 1 January 2020 Dilapidation
s
£
25,000
25,000

The Company has the obligation to make good dilapidations or other damage which occurs to the property during the course of the lease.

19. PENSION COMMITMENTS

The charity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £27,955 (2019 £9,574). Contributions totalling £4,067 (2019 £1,998) were payable to the fund at the balance sheet date and are included in creditors

20. OPERATING LEASE COMMITMENTS

At 31 December 2020 the Company had commitments to make future minimum lease payments under non-cancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years		 2020
£
42,600
33,725
76,325		 2019
£
42,600
76,325
118,925

21. RELATED PARTY TRANSACTIONS

At 31 December 2020, the company held 1 ordinary share of £1 each in the wholly owned subsidiary, Cambridge Science Enterprises Limited, which is registered in the United Kingdom. The Company ceased trading on 31 March 2015 and has remained dormant since that date.

During the year three donations totalling £71,000 were received from two trusts each under the control of one of the Trustees.

Duruing the previous year one donation totalling £55,000 was received from one trust under the control of one of the Trustees.

Page 29

(A Company Limited by Guarantee)

CAMBRIDGE SCIENCE CENTRE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

22. STATEMENT OF FUNDS

STATEMENT OF FUNDS - CURRENT YEAR

UNRESTRICTED FUNDS
General Funds
Capital Reseve Fund		 Balance at 1
January
2020
£
87,279
92,712
179,991		 Income
£
470,324
-
470,324		 Expenditure
£
(550,882)
-
(550,882)		 Transfers
in/out
£
54,250
(29,664)
24,586		 Balance at
31
December
2020
£
60,971
63,048
124,019

Capital Reserve Fund

The charity's fixed assets are its core assets used for operational purposes. A separate fund has been established to protect these assets where not represented by other funds.

RESTRICTED FUNDS

King Badouin Foundation -
Amgen
ARM Ltd
Association of Science and
Discovery Centres (ASDC)
Ironmongers Foundation
Norfolk Community Foundation
Luton Outreach Project
Frank Litchfield -
Transportation
Open Up Science
Bloodhound
Aviva - Youth STEM club
Other
TOTAL OF FUNDS		 9,299
9,846
8,500
13,020
17,000
-
-
-
-
-
-
57,665
237,656		 -
-
4,500
-
-
19,876
10,000
33,036
11,000
1,828
3,555
83,795
554,119		 -
-
(5,000)
(8,280)
(8,500)
(7,702)
-
(33,036)
(11,000)
-
(3,555)
(77,073)
(627,955)		 -
(9,846)
-
(4,740)
-
-
(10,000)
-
-
-
-
(24,586)
-		 9,299
-
8,000
-
8,500
12,174
-
-
-
1,828
-
39,801
163,820

Page 30

(A Company Limited by Guarantee)

CAMBRIDGE SCIENCE CENTRE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

22. STATEMENT OF FUNDS (CONTINUED)

STATEMENT OF FUNDS - PRIOR YEAR

UNRESTRICTED FUNDS
General Funds
Capital Reseve Fund
RESTRICTED FUNDS
King Badouin Foundation -
Amgen
ARM Ltd
Association of Science and
Discovery Centres (ASDC)
Ironmongers Foundation
Norfolk Community Foundation
Scottish Power
Pi in the Sky
Astrazeneca/Medimmune
Harlow Council
Lujenna Educational Trust
Other restricted grants
TOTAL OF FUNDS		 Balance at
1 January
2019
£
9,277
137,462
146,739
9,299
-
-
-
-
-
4,656
16,667
-
-
520
31,142
177,881		 Income
£
597,723
-
597,723
-
14,092
9,800
13,020
25,500
31,530
-
40,000
7,535
4,190
-
145,667
743,390		 Expenditure
£
(569,127)
-
(569,127)
-
(4,246)
(1,300)
-
(8,500)
(31,530)
-
(56,667)
(7,535)
(4,190)
(520)
(114,488)
(683,615)		 Transfers
in/out
£
49,406
(44,750)
4,656
-
-
-
-
-
-
(4,656)
-
-
-
-
(4,656)
-		 Balance at
31
December
2019
£
87,279
92,712
179,991
9,299
9,846
8,500
13,020
17,000
-
-
-
-
-
-
57,665
237,656

Page 31

CAMBRIDGE SCIENCE CENTRE (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

22. STATEMENT OF FUNDS (CONTINUED)

King Badouin Foundation - Amgen - A further grant for repeat intervention in Kings Lynn, delivering high quality hands-on STEM engagement for children, young people and their families.

ARM - In addition to Executive Council fees, ARM previously funded exchange visits between staff at CSC and The Tech Museum of Innovation (The Tech) in San Jose, USA as an opportunity for collaboration and beneficiary enrichment. During 2019 the CSC Head of Exhibitions visited The Tech however as a return visit could not take place in early 2020 as planned ARM agreed to release the unspent funds to unrestricted funds.

The Association of Science and Discovery Centres (ASDC) - We benefited from two national programmes sponsored by the ASDC. The first was Explore Your Universe 4 (EYU4), an extension to previous phases in which CSC had participated. This concluding phase is a community led programme, focussed on participatory methodologies and working with the same families multiple times to build trust and focusing on those who may not currently visit a science centre. The second was Science Capital in Practice with the ASDC partnering with the Science Museum Group to deliver a training programme focussing on use of the science capital approach in science engagement throughout the organisation.

Ironmongers Foundation - The grant provided for support to repeat our proven model of school and community roadshows with accompanying evaluation in one area of social depravation in East Anglia (Peterborough) spanning one academic term. The project was completed during 2020.

Norfolk Community Foundation (Dudgeon Trust) - The grant provided for support to repeat our proven model of school and community roadshows with accompanying evaluation in two schools at three locations (Great Yarmouth, Breckland and North Norfolk), coastal areas of social depravation in East Anglia and delivering engagement related to renewal energy sources.

Luton Outreach (Wadham College, Oxford ) - Building on a programme of intervention with 16 and 17 years olds being operated by Wadham College, University of Oxford, Cambridge Science Centre were funded to provide school roadshows for 13 and 14 years olds at 8 schools in Luton. Prior to lockdowns, 3 schools had been completed. The remaining schools will be offered Virtual School Trips with Utter Science sessions as agreed with Wadham College.

Frank Litchfield - Transportation - The Charity received £10,000 from the Frank Litchfield General Charitable Trust to fund assistance with transportation to the Centre. Due to Centre being closed for much of the year the the donor agreed to release the unspent funds to unrestricted funds.

Open Up Science - During the year the Charity received £30,000 from the Evolution Educational Trust to deliver on-line programmes and a physical newsletter supported marketing approach to engage the underserved fenland areas of Cambridgeshire. In addition the Charity received £3,306 from the Cambridge Commnuity Foundation to deliver this project.

Bloodhound - During the year the Charity received £11,000 from The Relithan Charitable Trust to help deliver a special exhibition and workshop on the Bloodhound LSR.

Aviva Community Fund - Youth STEM club - Funding was provided to run a STEM After School Club external to the Science Centre. Due to lockdown and school closures this delivery is still to be completed.

Other - these include amounts received from Scottish Power and Digital Alumni Festival to deliver specific projects.

In the prior period transfers represent small under/overspends on completed projects.

Page 32

CAMBRIDGE SCIENCE CENTRE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

23. ANALYSIS OF NET ASSETS BETWEEN FUNDS

ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT PERIOD

Restricted Unrestricted
Total
funds funds
funds
2020 2020
2020
£ £
£
Tangible fixed assets - 63,048
63,048
Fixed asset investments - 1
1
Debtors due after more than one year - 22,590
22,590
Current assets 39,801 255,238
295,039
Creditors due within one year - (191,858)
(191,858)
Provisions for liabilities and charges - (25,000)
(25,000)
TOTAL 39,801 124,019
163,820
ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR PERIOD
Restricted Unrestricted
Total
funds funds
funds
2019 2019
2019
£ £
£
Tangible fixed assets - 92,712
92,712
Fixed asset investments - 1
1
Debtors due after more than one year - 22,590
22,590
Current assets 57,665 154,003
211,668
Creditors due within one year - (64,315)
(64,315)
Provisions for liabilities and charges - (25,000)
(25,000)
TOTAL 57,665 179,991
237,656

Page 33

(A Company Limited by Guarantee)

CAMBRIDGE SCIENCE CENTRE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

24.
RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW
ACTIVITIES
Net income/expenditure for the period (as per Statement of Financial
Activities)
ADJUSTMENTS FOR:
Depreciation charges
Dividends, interests and rents from investments
Loss on the sale of fixed assets
Increase in stocks
Decrease/(increase) in debtors
Increase/(decrease) in creditors
NET CASH PROVIDED BY OPERATING ACTIVITIES
25.
ANALYSIS OF CASH AND CASH EQUIVALENTS
Cash in hand
TOTAL CASH AND CASH EQUIVALENTS
26.
ANALYSIS OF CHANGES IN NET DEBT
At 1
January
2020
£
Cash at bank and in hand
177,672
177,672		 FROM OPERATING
2020
2019
£
£
(73,836)
59,775
31,122
45,533
(251)
(282)
-
404
(479)
(1,455)
(25,797)
2,969
127,543
(54,152)
58,302
52,792
2020
2019
£
£
234,767
177,672
234,767
177,672
Cash flows
At 31
December
2020
£
£
57,095
234,767
57,095
234,767

Page 34