DocuSign Envelope ID: A521CB6E-B141-4D98-9410-76EE8757C8AD
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 2023
DocuSign Envelope ID: A521CB6E-B141-4D98-9410-76EE8757C8AD
CAMBRIDGE SCIENCE CENTRE (A Company Limited by Guarantee)
| CONTENTS | |
|---|---|
| Page | |
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 8 |
| Independent Examiner's Report | 9 |
| Statement of Financial Activities | 10 |
| Balance Sheet | 11 - 12 |
| Statement of Cash Flows | 13 |
| Notes to the Financial Statements | 14 - 39 |
DocuSign Envelope ID: A521CB6E-B141-4D98-9410-76EE8757C8AD
CAMBRIDGE SCIENCE CENTRE (A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023
| Trustees | Dr D D Cleevely CBE, Chairman |
|---|---|
| Ms A H East | |
| Dr C K Lennard | |
| Dr L J Spokes | |
| Prof J Drori CBE | |
| Mr J J P Marsh | |
| Ms A J Weatherup | |
| Ms H E Fear MBE (appointed 18 January 2024) | |
| Dr J A Mellad (appointed 26 April 2023) | |
| Mr B F V Cotta (appointed 26 April 2023) | |
| Mr D Cuff (appointed 26 April 2023) | |
| Company registered number 07962584 Charity registered number 1146349 Registered office 44 Clifton Road Cambridge CB1 7ED Patrons Lord Rees of Ludlow Professor Dame Athene Donald Chief executive officer John Bull Independent examiner Peters Elworthy & Moore Chartered Accountants Salisbury House Station Road Cambridge CB1 2LA Solicitors Birketts LLP 22 Station Road Cambridge CB1 2JD |
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DocuSign Envelope ID: A521CB6E-B141-4D98-9410-76EE8757C8AD
CAMBRIDGE SCIENCE CENTRE (A Company Limited by Guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023
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 2023 to 31 December 2023. 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
The purpose of Cambridge Science Centre (CSC) 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:
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the public understanding of science and technology in principle and application;
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public engagement in scientific and technological research and public discourse in particular as related to public policy and ethics; and
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public access to scientific and technological development in the city of Cambridge and East Anglia.
We achieve these by co-developing and delivering transformational STEM experiences for young people and the adults in their lives 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 and/or public and educational organisations.
CSC is continuing to invest significantly in its outreach activities expanding programmes of repeat, multiple touchpoint interventions throughout the Region and beyond thereby broadening access to STEM for communities. Our STEM based experiences in schools and other publicly accessible areas, focusing particularly on areas of multiple deprivation have been shown to reach those most at risk of missing out on STEM participation.
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 benefited from the support of volunteers throughout 2023 who worked with our staff in the development and delivery of STEM experiences. These volunteers came from a range of backgrounds, including people working in local STEM companies, schools, colleges and our Executive Council members.
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DocuSign Envelope ID: A521CB6E-B141-4D98-9410-76EE8757C8AD
CAMBRIDGE SCIENCE CENTRE (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
ACHIEVEMENTS AND PERFORMANCE
Appointments and Retirements
The Board welcomed the following Trustees who joined during the year: Dr J A Mellad (appointed 26 April 2023); Mr B F V Cotta (appointed 26 April 2023); and Mr D Cuff (appointed 26 April 2023)
On site programmes and outreach operations
We continue to adapt our delivery, fund raising and marketing activities to ensure they are properly aligned to meet our charitable objectives under ever changing and challenging circumstances.
With the lease on the Centre’s existing premises coming to an end during 2023, and having conducted specific research, CSC drew up plans to establish a new Centre to be opened in 2024. The existing Centre was closed and CSC focused on Community work in the intervening period; along with the development of new and inspiring STEM content and a major investment in new exhibits in readiness for the new Centre. Cambridge Science Centre’s new venue will be located in central Cambridge and will be opened in 2024 with the support of Trinity College Cambridge, Brockton Everlast, LifeArc and Arm and the continuing support of our Executive Council. The Centre will become a key focus for delivering impact for our audiences along with exploring new avenues to assist young people on their lifelong journey with STEM.
During 2023, CSC engaged 52,153 learners, teachers and families. School bookings were particularly encouraging and the Charity engaged over 8,846 students across 100 visits. We also ran an extensive Fenland programme of community engagement through market town science pop ups in Ramsey, Wisbech and Chatteris – part funded by a generous contribution from the Cambridgeshire & Peterborough Combined Authority. We engaged over 2,000 school students and 6,000 visitors and extended our presence and widened access to hands on STEM. Our Fenland programme will be continuing into 2024.
CSC continued to run temporary pop ups in the Grand Arcade shopping centre in Cambridge, engaging 36,681 visitors, and also established a temporary pop up in the Grafton Centre aimed at the 5s and under age group; which engaged 9,105 children and accompanying adults. These were free to enter, aimed at removing financial barriers to access and encouraging earlier engagement with STEM.
We also successfully continued to run STEM Club, term time weekly sessions with a community partner North Cambridge Community Partnership ("NCCP"), for young people who live in an area low on the Index of Multiple Deprivation. Running since 2021, this has provided for a long term, in depth engagement with over 15 young people.
We continued to actively participate in a number of shows and festivals, including British Science Week, Cambridge Festival, Norfolk Deaf Fest., Festival on the Close, Big Biology Day, IWM Duxford's Air Show, and ARU's Chelmsford Family Science Day. In addition, we collaborated with several community events throughout the Fenland region as part of our wider work in the area, and these include the March Christmas Fair and the Ramsey Festival.
Partnerships and national awareness
We remain very grateful to our continuing Executive Council members (AstraZeneca, MathWorks, Cemex, Anglia Ruskin University, KAO Data, Cambridge Consultants and Bruntwood Sci-Tech). We are also grateful to our Corporate supporters, The Cambridgeshire & Peterborough Combined Authority and to the Grand Arcade and Grafton Centre - who have funded and supported our outreach shopping centre pop ups – permitting free access.
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DocuSign Envelope ID: A521CB6E-B141-4D98-9410-76EE8757C8AD
CAMBRIDGE SCIENCE CENTRE (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
We have continued to build strong partnerships with our members and supporters, including supporting corporate STEM initiatives, helping to bring STEM industries to life in creative and tangible ways, providing volunteering opportunities as well as delivering shows to 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).
Fundraising
Throughout 2023 fundraising efforts were dedicated to:
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Continuing to strengthen our relationship with our Executive Council members, who have remained enthusiastic partners and continue to be supportive of the work we have undertaken financially as well as providing valuable strategic advice, and assisting to enlist new members. We welcomed three new Executive Council members and at the end of the year were in discussions with several others for 2023.
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Soliciting major donations from Founders and Members of the Board of Trustees and their networks.
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• Seeking to widen our pool of funding with new support from trusts and foundations with an interest in STEM with whom we have not previously engaged.
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Expanding our corporate sponsors and engaging new organisations in our work.
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Applying for grants, a highly competitive arena during 2023.
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Continuing to play an active role with the ASDC supporting them in their campaign to raise awareness at government levels of the work science and discovery centre achieve, particularly with young learners, and to encourage financial support.
FINANCIAL REVIEW
Results
The Charity recorded a surplus of £267,442 for the period covered by these accounts, compared with a deficit of £181,432 in 2022.
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.
During this time, unrestricted income achieved was £418,612 (2022 - £610,610). During the year we received £580,474 (2022 - £58,225) in restricted grants and donations to support specific programmes.
Resources expended totalled £731,644 (2022 - £850,267).
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 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
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DocuSign Envelope ID: A521CB6E-B141-4D98-9410-76EE8757C8AD
CAMBRIDGE SCIENCE CENTRE (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
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 £267,883 (2022 - £441 deficit) of which £208,982 (2022 - £69,055) is represented by restricted funds relating to unspent donation and grant income received for particular projects continuing into 2024. The Charity has an increase in unrestricted funds at the year-end which stood at £58,901 (2022 - £68,614 deficit) of which £139,576 (2022 - £10,589) 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 negative £80,675 (free reserves).
The Trustees have revised the 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 confident in achieving this position and encouraged by progress made thus far. 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 May 2025.
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 Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risk
The Board of Trustees review identified risks to the business at each Board of Trustees’ meeting. The Trustees maintain a risk register and that it is reviewed regularly. Finance continues to present the key financial 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 participated in an Audit & Risk Sub-Committee.
PLANS FOR FUTURE PERIODS
Future plans
Continue to build on the work of Cambridge Science Centre through a range of fund raising and awareness raising events and continuing to build our relationships with teachers, care givers, community leaders, employers and other service providers to ensure an integrated and consistent approach to our combined efforts of repeat, multiple touchpoint outreach experiences. Building on our knowledge of operating a Centre and working in conjunction with our STEM, Youth and Funding and Development Partners, open our new Centre in 2024.
Continue to work with our Youth Advisory Panel mapping out the journey we want young people to take with us and deepen our impact by building upon the extensive data gathered over the past ten years of operation and from previous impact evaluation.
CSC will continue to develop and deliver innovative outreach STEM interventions that take our activities into the heart of deserving communities and continue the delivery of STEM engagement, via pop up science centres in community buildings in Cambridgeshire & Peterborough market towns.
Continue to improve operational resilience by investing in staff training and skills improvement alongside increasing resources to strengthen our STEM delivery.
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DocuSign Envelope ID: A521CB6E-B141-4D98-9410-76EE8757C8AD
CAMBRIDGE SCIENCE CENTRE (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
Utilising our Theory of Change, with evidence gathered during outreach, CSC will look to deepen and broaden our funding base. Targeting both educational grants and corporate donors CSC will continue to invest in resource to increase fund raising applications with a particular view to identifying sources that will enable the long term continuation of the Charity’s objects.
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, part time Finance Director and HR support.
The following trustees served during the year:
Dr D D Cleevely CBE Ms A H East Dr C K Lennard Dr L J Spokes Prof J Drori CBE Mr J J P Marsh Ms A J Weatherup Dr J A Mellad Mr B F V Cotta Mr D Cuff
Key management and personnel remuneration
The Trustees consider the Board of Trustees and the Chief Executive 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 their time freely and no trustee remuneration was paid in the period. Details of trustee expenses and related party transactions are disclosed in notes 14 and 29 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 the Charity’s staff was reviewed in December 2023 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.
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DocuSign Envelope ID: A521CB6E-B141-4D98-9410-76EE8757C8AD
CAMBRIDGE SCIENCE CENTRE (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
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 twelve 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 a copy of the Memorandum and Articles of Association, a copy of the most recent Financial Report and copy of the Trustee Policy which they are expected to sign.
A pack of CSC governance policy documents and minutes from the Board of Trustees’ meetings over the prior six months are available on request.
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 non charitable trading activities when these become material to the business. The company is currently dormant.
INFORMATION ON FUNDRAISING PRACTICES
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 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 2023.
TRUSTEES' RESPONSIBILITIES STATEMENT
The Trustees (who are also the directors of the Charity 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
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DocuSign Envelope ID: A521CB6E-B141-4D98-9410-76EE8757C8AD
CAMBRIDGE SCIENCE CENTRE (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
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.
Approved by order of the members of the board of Trustees and signed on their behalf by:
==> picture [140 x 37] intentionally omitted <==
Dr D D Cleevely CBE Trustee
Date: 22 May 2024
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DocuSign Envelope ID: A521CB6E-B141-4D98-9410-76EE8757C8AD
CAMBRIDGE SCIENCE CENTRE (A Company Limited by Guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CAMBRIDGE SCIENCE CENTRE ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2023.
RESPONSIBILITIES AND BASIS OF REPORT
As the Trustees of the Charity (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 Charity 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 Charity'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 Charity'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 the Institute of Chartered Accountants in England and Wales (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:
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accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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
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 Charity'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 Charity'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 Charity and the Charity's Trustees as a body, for my work or for this report.
Signed:
Michael Hewett
Dated: 23 May 2024 FCA DChA
PETERS ELWORTHY & MOORE Chartered Accountants, Cambridge
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DocuSign Envelope ID: A521CB6E-B141-4D98-9410-76EE8757C8AD
CAMBRIDGE SCIENCE CENTRE
(A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2023
| Note INCOME FROM: Grants and donations 4 Charitable activities 5 Other trading activities 6 Investments 7 Other income 8 TOTAL INCOME EXPENDITURE ON: Raising funds 9 Charitable activities 10 TOTAL EXPENDITURE NET INCOME/(EXPENDITURE) Transfers between funds NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total funds brought forward Net movement in funds TOTAL FUNDS CARRIED FORWARD |
Restricted funds 2023 £ 580,474 - - - - 580,474 - 426,547 426,547 153,927 (14,000) 139,927 69,055 139,927 208,982 |
Unrestricted funds 2023 £ 390,867 20,277 7,195 273 - 418,612 103,048 202,049 305,097 113,515 14,000 127,515 (68,614) 127,515 58,901 |
Total funds 2023 £ 971,341 20,277 7,195 273 - 999,086 103,048 628,596 731,644 267,442 - 267,442 441 267,442 267,883 |
Total funds 2022 £ 538,024 57,625 13,401 213 59,572 668,835 98,907 751,360 850,267 (181,432) - (181,432) 181,873 (181,432) 441 |
|---|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 14 to 39 form part of these financial statements.
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CAMBRIDGE SCIENCE CENTRE (A Company Limited by Guarantee) REGISTERED NUMBER: 07962584
BALANCE SHEET AS AT 31 DECEMBER 2023
| Note FIXED ASSETS Intangible assets 15 Tangible assets 16 Investments 17 CURRENT ASSETS Stocks 18 Debtors 19 Cash at bank and in hand Creditors: amounts falling due within one year 20 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES Provisions for liabilities 21 NET ASSETS CHARITY FUNDS Restricted funds Unrestricted funds TOTAL FUNDS |
438 78,578 248,016 327,032 (155,375) |
2023 £ 28,000 111,576 1 139,577 171,657 311,234 (43,351) 267,883 208,982 58,901 267,883 |
2,648 79,381 154,949 236,978 (172,811) |
2022 £ - 10,589 1 10,590 64,167 74,757 (74,316) 441 69,055 (68,614) 441 |
|---|---|---|---|---|
The Charity 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.
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DocuSign Envelope ID: A521CB6E-B141-4D98-9410-76EE8757C8AD
CAMBRIDGE SCIENCE CENTRE (A Company Limited by Guarantee) REGISTERED NUMBER: 07962584
BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2023
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
==> picture [140 x 37] intentionally omitted <==
Dr D D Cleevely CBE Trustee
Date: 22 May 2024
The notes on pages 14 to 39 form part of these financial statements.
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CAMBRIDGE SCIENCE CENTRE
(A Company Limited by Guarantee)
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023
| Note CASH FLOWS FROM OPERATING ACTIVITIES Net cash from/(used in) operating activities 24 CASH FLOWS FROM INVESTING ACTIVITIES Dividends, interests and rents from investments Purchase of intangible assets Purchase of tangible fixed assets NET CASH USED IN INVESTING 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 25 |
2023 £ 230,870 273 (28,000) (110,076) (137,803) 93,067 154,949 248,016 |
2022 £ (105,816) 213 - (6,564) (6,351) (112,167) 267,116 154,949 |
|---|---|---|
The notes on pages 14 to 39 form part of these financial statements
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DocuSign Envelope ID: A521CB6E-B141-4D98-9410-76EE8757C8AD
CAMBRIDGE SCIENCE CENTRE (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
1. GENERAL INFORMATION
The company is a private company limited by guarantee and incorporated in England. Its registered office, and principal place of business, 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.
The functional and presentational currency of the Charity is GBP.
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) (effective 1 January 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
At the year end the Charity had net assets of £267,883 including unrestricted funds of £58,901. The Board prepares annual budgets and three year plans and these assume 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.
During 2023, and since the year end, the Charity has demonstrated its resilience both in terms of delivery against its charitable objectives and maintaining fund raising capabilities. The Development team are constantly monitoring the general funding environment and continue to refine their fundraising efforts accordingly.
Two major donors continue 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 May 2025.
The Trustees do not consider there to be any material uncertainties about the Charity’s ability to continue as a going concern for a period of at least 12 months from the date of signing of these accounts.
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DocuSign Envelope ID: A521CB6E-B141-4D98-9410-76EE8757C8AD
CAMBRIDGE SCIENCE CENTRE (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
2. ACCOUNTING POLICIES (CONTINUED)
2.3 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 Charity 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 Charity 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.
Investment income, gains and losses are allocated to the appropriate fund.
2.4 INCOME
All income is recognised once the Charity 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.
Other income is recognised in the period in which it is receivable. The other income relates to government grants and insurance reimbursements.
Income from the sale of merchandise is recognised upon delivery to the customer.
Income from the provision of outreach visits and events is recognised immediately after the visits and events.
2.5 INTEREST RECEIVABLE
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.6 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 grant 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.
Page 15
DocuSign Envelope ID: A521CB6E-B141-4D98-9410-76EE8757C8AD
CAMBRIDGE SCIENCE CENTRE (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
2. ACCOUNTING POLICIES (CONTINUED)
2.7 EXPENDITURE
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.
Support costs are those costs incurred directly in support of expenditure on the objects of the Charity and include central project management costs.
Governance costs are those incurred in connection with administration of the Charity 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 Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
2.8 INTANGIBLE ASSETS AND AMORTISATION
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.
Amortisation is provided on the following basis:
Website - 25 % Straight line
Page 16
DocuSign Envelope ID: A521CB6E-B141-4D98-9410-76EE8757C8AD
(A Company Limited by Guarantee)
CAMBRIDGE SCIENCE CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
2. ACCOUNTING POLICIES (CONTINUED)
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 Charity 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 | - | 20% straight line |
|---|---|---|
| Motor vehicles | - | 20% straight line |
| Fixtures and fittings | - | 25% straight line |
| Exhibit costs | - | 20% straight line |
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.
Page 17
DocuSign Envelope ID: A521CB6E-B141-4D98-9410-76EE8757C8AD
CAMBRIDGE SCIENCE CENTRE (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
2. ACCOUNTING POLICIES (CONTINUED)
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 Charity 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 Charity 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.
2.17 PENSIONS
The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.
Page 18
DocuSign Envelope ID: A521CB6E-B141-4D98-9410-76EE8757C8AD
CAMBRIDGE SCIENCE CENTRE (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
3. CRITICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGMENT
Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Critical accounting estimates and assumptions:
The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.
Critical areas of judgment:
Dilapidations provision
The Charity leases property at Unit 44, Clifton Road, Cambridge. At the end of the lease in 2028 (2026 if the break clause is invoked), the Charity will be required to carry out remedial work. As disclosed in note 21, the cost is expected to be £43,351. This estimate is subject to many estimates and assumptions, including the discount rates and future inflation.
4. INCOME FROM GRANTS AND DONATIONS
| Donations and grants Executive Council Membership TOTAL 2022 INCOME FROM CHARITABLE ACTIVITIES Admissions and outreach TOTAL 2022 |
Restricted funds 2023 Unrestricted funds 2023 £ £ 580,474 220,867 - 170,000 580,474 390,867 58,225 479,799 Unrestricted funds 2023 £ 20,277 57,625 |
Total funds 2023 £ 801,341 170,000 971,341 538,024 Total funds 2023 £ 20,277 57,625 |
Total funds 2022 £ 350,107 187,917 |
|---|---|---|---|
| 538,024 | |||
| Total funds 2022 £ 57,625 |
|||
5. INCOME FROM CHARITABLE ACTIVITIES
Page 19
DocuSign Envelope ID: A521CB6E-B141-4D98-9410-76EE8757C8AD
CAMBRIDGE SCIENCE CENTRE (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
6. INCOME FROM OTHER TRADING ACTIVITIES
Income from non charitable trading activities
| Retail sales TOTAL 2022 7. INVESTMENT INCOME Bank interest TOTAL 2022 8. OTHER INCOMING RESOURCES Government grants receivable Covid-19 business interruption insurance payout TOTAL 2022 |
Unrestricted funds 2023 £ 7,195 13,401 Unrestricted funds 2023 £ 273 213 Unrestricted funds 2023 £ - - - 59,572 |
Total funds 2023 £ 7,195 13,401 Total funds 2023 £ 273 213 Total funds 2023 £ - - - 59,572 |
Total funds 2022 £ 13,401 |
|---|---|---|---|
| Total funds 2022 £ 213 |
|||
| Total funds 2022 £ 16,960 42,612 |
|||
| 59,572 | |||
Page 20
DocuSign Envelope ID: A521CB6E-B141-4D98-9410-76EE8757C8AD
CAMBRIDGE SCIENCE CENTRE (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
8. OTHER INCOMING RESOURCES (CONTINUED)
In the previous financial year, government grants receivable comprised £8,000 Covid-19 support from Cambridge City Council and £8,960 from the UK Government in respect of the Kickstart Scheme.
9. EXPENDITURE ON RAISING FUNDS
| Unrestricted funds 2023 £ Events, exhibits and advertising 10,360 Bank & finance charges - Premises rent 4,918 Subscriptions & memberships - Office expenses 548 Professional and consultancy 3,623 Staff costs 83,373 Depreciation 226 103,048 TOTAL 2022 98,907 |
Total funds 2023 £ 10,360 - 4,918 - 548 3,623 83,373 226 103,048 98,907 |
Total funds 2022 £ 3,482 214 9,534 557 280 8,089 76,751 - |
|---|---|---|
| 98,907 | ||
Page 21
DocuSign Envelope ID: A521CB6E-B141-4D98-9410-76EE8757C8AD
CAMBRIDGE SCIENCE CENTRE (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
10. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES
Summary by fund type
| Events and Outreach TOTAL 2022 |
Restricted funds 2023 Unrestricted funds 2023 £ £ 426,547 202,049 113,842 637,518 |
Total 2023 £ 628,596 751,360 |
Total 2022 £ 751,360 |
|---|---|---|---|
11. ANALYSIS OF EXPENDITURE BY ACTIVITIES
| Events and Outreach TOTAL 2022 ANALYSIS OF DIRECT COSTS Staff costs Depreciation Events, exhibits and advertising TOTAL 2022 |
Activities undertaken directly 2023 £ 317,261 418,627 |
Support costs 2023 £ 311,335 332,733 Events and Outreach 2023 £ 234,770 5,450 77,041 317,261 418,627 |
Total funds 2023 £ 628,596 751,360 Total funds 2023 £ 234,770 5,450 77,041 317,261 418,627 |
Total funds 2022 £ 751,360 |
|---|---|---|---|---|
| Total funds 2022 £ 237,513 38,361 142,753 |
||||
| 418,627 | ||||
Page 22
DocuSign Envelope ID: A521CB6E-B141-4D98-9410-76EE8757C8AD
CAMBRIDGE SCIENCE CENTRE (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
11. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED)
ANALYSIS OF SUPPORT COSTS
| Events and Outreach 2023 £ Staff costs 164,763 Depreciation 3,413 Rent 70,692 Membership fees 2,633 Rates and utilities 1,559 Office equipment 2,158 Phone and internet 4,596 Other premises costs 21,851 Dilapidations - Legal and professional fees 35,182 Non-Audit fees 4,488 311,335 TOTAL 2022 332,733 12. INDEPENDENT EXAMINER'S REMUNERATION Fees payable to the Charity's independent examiner for the independent examination of the Charity's annual accounts Fees payable to the Charity's independent examiner in respect of: Preparation of the annual accounts |
Total funds 2023 £ 164,763 3,413 70,692 2,633 1,559 2,158 4,596 21,851 - 35,182 4,488 311,335 332,733 2023 £ 1,320 2,640 |
Total funds 2022 £ 140,200 3,305 77,424 3,211 2,227 1,611 2,715 18,920 49,316 29,225 4,579 |
|---|---|---|
| 332,733 | ||
| 2022 £ 1,320 2,640 |
Page 23
DocuSign Envelope ID: A521CB6E-B141-4D98-9410-76EE8757C8AD
CAMBRIDGE SCIENCE CENTRE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
13. STAFF COSTS
| Wages and salaries Social security costs Contribution to defined contribution pension schemes |
2023 £ 436,127 34,896 11,883 482,906 |
2022 £ 412,575 32,134 9,755 |
|---|---|---|
| 454,464 |
The average number of persons employed by the Charity during the year was as follows:
| Delivery Business Development Central Exhibitions |
2023 No. 8 2 2 2 14 |
2022 No. 12 2 2 2 |
|---|---|---|
| 18 |
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
| 2023 | 2022 | ||
|---|---|---|---|
| No. | No. | ||
| In the band £60,001 | - £70,000 | 1 | 1 |
| In the band £80,001 | - £90,000 | 1 | - |
During the year, the key management personnel of the Charity comprised the Trustees and the Chief Executive Officer. The total employee benefits of the key management personnel of the Charity including employer's national insurance and pension contributions were £96,649 (2022 - £47,085).
14. TRUSTEES' REMUNERATION AND EXPENSES
During the year, no Trustees received any remuneration or other benefits (2022 - £NIL).
During the year ended 31 December 2023, expenses totalling £13 were reimbursed or paid directly to 1 Trustee (2022 - £NIL). The reimbursement covered Companies House filing fees.
Page 24
DocuSign Envelope ID: A521CB6E-B141-4D98-9410-76EE8757C8AD
CAMBRIDGE SCIENCE CENTRE
(A Company Limited by Guarantee)
| NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
|
|---|---|
| 15. INTANGIBLE ASSETS COST Additions At 31 December 2023 NET BOOK VALUE At 31 December 2023 At 31 December 2022 |
Website £ 28,000 28,000 28,000 - |
Page 25
DocuSign Envelope ID: A521CB6E-B141-4D98-9410-76EE8757C8AD
CAMBRIDGE SCIENCE CENTRE (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
16. TANGIBLE FIXED ASSETS
| COST OR VALUATION At 1 January 2023 Additions At 31 December 2023 DEPRECIATION At 1 January 2023 Charge for the year At 31 December 2023 NET BOOK VALUE At 31 December 2023 At 31 December 2022 |
Leasehold improvements £ 119,056 16,742 135,798 116,144 2,256 118,400 17,398 2,912 |
Motor vehicles £ - 27,719 27,719 - 2,772 2,772 24,947 - |
Fixtures, fittings and equipment £ 44,341 647 44,988 39,904 3,413 43,317 1,671 4,437 |
Exhibit costs £ 212,970 64,968 277,938 209,730 648 210,378 67,560 3,240 |
Total £ 376,367 110,076 |
|---|---|---|---|---|---|
| 486,443 | |||||
| 365,778 9,089 |
|||||
| 374,867 | |||||
| 111,576 | |||||
| 10,589 |
Page 26
DocuSign Envelope ID: A521CB6E-B141-4D98-9410-76EE8757C8AD
CAMBRIDGE SCIENCE CENTRE (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
17. FIXED ASSET INVESTMENTS
| COST At 1 January 2023 AT 31 DECEMBER 2023 |
Investments in subsidiary companies £ 1 |
|---|---|
| 1 |
PRINCIPAL SUBSIDIARIES
The following was a subsidiary undertaking of the Charity:
Name Company Registered office or principal Principal activity number place of business Cambridge Science Enterprises 07584257 Unit 44, Clifton Road, Cambridge, Dormant Limited (dormant) CB1 7ED Class of Holding shares Ordinary 100%
The financial results of the subsidiary for the year were:
| Name | Net | ||
|---|---|---|---|
| liabilities | |||
| £ | |||
| Cambridge Science Enterprises Limited (dormant) | 132 | ||
| 18. | STOCKS | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Shop merchandise | 438 | 2,648 |
Page 27
DocuSign Envelope ID: A521CB6E-B141-4D98-9410-76EE8757C8AD
CAMBRIDGE SCIENCE CENTRE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
19. DEBTORS
| DUE AFTER MORE THAN ONE YEAR Other debtors DUE WITHIN ONE YEAR Trade debtors Amounts owed by group undertakings Other debtors Prepayments 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 2023 Resources deferred during the year Amounts released from previous periods |
2023 £ 23,594 23,594 26,165 159 12,075 16,585 78,578 2023 £ 26,170 14,178 3,007 112,020 155,375 2023 £ 82,083 95,118 (82,083) 95,118 |
2022 £ - - 32,997 159 22,595 23,630 79,381 2022 £ 42,247 14,815 - 115,749 172,811 2022 £ - 98,333 (16,250) 82,083 |
|---|---|---|
20. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Deferred income relates to Executive Council memberships and outreach school visits paid in advance.
Page 28
DocuSign Envelope ID: A521CB6E-B141-4D98-9410-76EE8757C8AD
CAMBRIDGE SCIENCE CENTRE (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
21. PROVISIONS
| At 1 January 2023 Amounts used |
Dilapidations £ 74,316 (30,965) 43,351 |
|---|---|
The Charity has the obligation to make good dilapidations or other damage which occurs to the property during the course of the lease. The obligation is expected to be settled at the end of the lease on Unit 44 in 2028.
Page 29
DocuSign Envelope ID: A521CB6E-B141-4D98-9410-76EE8757C8AD
CAMBRIDGE SCIENCE CENTRE (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
22. STATEMENT OF FUNDS
STATEMENT OF FUNDS - CURRENT YEAR
| Balance at 1 January 2023 |
**Income ** | Expenditure | Transfers in/out |
Balance at 31 December 2023 |
|
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| UNRESTRICTED FUNDS | |||||
| General | (79,203) | 418,612 | (305,097) | (114,987) | (80,675) |
| Capital fund | 10,589 | - | - | 128,987 | 139,576 |
| (68,614) | 418,612 | (305,097) | 14,000 | 58,901 | |
| RESTRICTED FUNDS | |||||
| ASDC-Bold Futures | - | 24,994 | (24,994) | - | - |
| ASDC-STFC Impact StemTots | - | 9,000 | (9,000) | - | - |
| ASDC-Our World From Space | - | 5,500 | (5,500) | - | - |
| BGO Newton Propco Ltd | - | 6,000 | (6,000) | - | - |
| Cambridge City Council | - | 1,000 | (1,000) | - | - |
| Cambridge Festival | - | 2,000 | (2,000) | - | - |
| Cambridgeshire and Peterborough Combined Authority |
- | 200,000 | (100,264) | - | 99,736 |
| Chatteris Town Council | - | 1,000 | (1,000) | - | - |
| Debbie Allen | - | 7,900 | (7,900) | - | - |
| East Coast Skills | 5,141 | - | (5,141) | - | - |
| Edina Trust | - | 7,900 | (7,900) | - | - |
| EET Evolution Education Trust | - | 4,000 | (3,000) | - | 1,000 |
| Ganzoni Charitable Trust | 2,000 | - | (2,000) | - | - |
| GrantScape | - | 2,500 | - | - | 2,500 |
| Growthworks | - | 21,638 | (7,638) | (14,000) | - |
| Illumina Corporation Foundation | - | 82,349 | (82,349) | - | - |
| Ironmongers Foundation | 9,928 | - | (9,928) | - | - |
| Johnson Matthey | 3,125 | 28,981 | (21,146) | - | 10,960 |
| LifeArc | - | 100,000 | (9,214) | - | 90,786 |
| Metalcraft Community Fund | - | 750 | (750) | - | - |
| Mills & Reeve | - | 4,000 | (4,000) | - | - |
| National Lottery | - | 10,000 | (10,000) | - | - |
Page 30
DocuSign Envelope ID: A521CB6E-B141-4D98-9410-76EE8757C8AD
CAMBRIDGE SCIENCE CENTRE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
| 22. | STATEMENT OF FUNDS (CONTINUED) | STATEMENT OF FUNDS (CONTINUED) | ||||
|---|---|---|---|---|---|---|
| National Philanthropic Trust | - | 10,000 | (10,000) | - | - | |
| Norfolk Community Foundation | 8,500 | - | (8,500) | - | - | |
| Nuclera Bio-tinkering lab | - | 2,000 | - | - | 2,000 | |
| Redgate Software Limited | - | 5,000 | (5,000) | - | - | |
| Royal Academy of Engineering | 6,739 | 20,962 | (27,701) | - | - | |
| Royal Society of Chemistry | 8,000 | 2,000 | (10,000) | - | - | |
| Simon Gibson Charitable Trust | - | 10,000 | (10,000) | - | - | |
| The Anne French Memorial Trust |
500 | - | (500) | - | - | |
| The Annie Tranmer Charitable Trust |
500 | - | (500) | - | - | |
| The Earl Fitzwilliam Charitable Trust |
1,000 | - | (1,000) | - | - | |
| The Geoffrey Watling Charity | 4,000 | - | (4,000) | - | - | |
| The Lady Hind Trust | 500 | - | (500) | - | - | |
| The Mrs L D Rope Third Charitable Settlement |
3,000 | - | (3,000) | - | - | |
| The Ogden Trust | - | 5,000 | (5,000) | - | - | |
| The Steel Charitable Trust | 12,322 | - | (12,322) | - | - | |
| Trinity College (CSP) Ltd | - | 6,000 | (4,000) | - | 2,000 | |
| WOW STEM Educational Support |
3,800 | - | (3,800) | - | - | |
| 69,055 | 580,474 | (426,547) | (14,000) | 208,982 | ||
| TOTAL OF FUNDS | 441 | 999,086 | (731,644) | - | 267,883 |
Page 31
DocuSign Envelope ID: A521CB6E-B141-4D98-9410-76EE8757C8AD
CAMBRIDGE SCIENCE CENTRE (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
22. STATEMENT OF FUNDS (CONTINUED)
STATEMENT OF FUNDS - PRIOR YEAR
| Balance at 1 January 2022 |
**Income ** | Expenditure | Transfers in/out |
Balance at 31 December 2022 |
|
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| UNRESTRICTED FUNDS | |||||
| General | 11,510 | 610,610 | (736,425) | 35,102 | (79,203) |
| Capital fund | 45,691 | - | - | (35,102) | 10,589 |
| 57,201 | 610,610 | (736,425) | - | (68,614) | |
| RESTRICTED FUNDS | |||||
| FAAM-Atmospheric Science | 3,000 | - | (3,000) | - | - |
| Norfolk Community Foundation | 8,500 | - | - | - | 8,500 |
| Association of Science and Discovery Centres (ASDC) |
727 | 2,500 | (3,227) | - | - |
| WOW STEM Educational support |
32,147 | - | (28,347) | - | 3,800 |
| East Coast Skills | 10,283 | - | (5,142) | - | 5,141 |
| Cambridge Consultants | 8,500 | - | (8,500) | - | - |
| BGL Group | 30,424 | - | (30,424) | - | - |
| Advocacy funding | 17,591 | - | (17,591) | - | - |
| Johnson Matthey | 12,500 | 2,000 | (11,375) | - | 3,125 |
| Royal Academy of Engineering | - | 8,985 | (2,246) | - | 6,739 |
| North Cambridge Community Partnership (NCCP) - STEM Club |
- | 1,990 | (1,990) | - | - |
| Ironmongers Foundation | - | 9,928 | - | - | 9,928 |
| The Mrs L D Rope Third Charitable Settlement |
- | 3,000 | - | - | 3,000 |
| The Geoffrey Watling Charity | - | 4,000 | - | - | 4,000 |
| Ganzoni Charitable Trust | - | 2,000 | - | - | 2,000 |
| Royal Society of Chemistry | - | 8,000 | - | - | 8,000 |
| The Steel Charitable Trust | - | 12,322 | - | - | 12,322 |
| Other | 1,000 | - | (1,000) | - | - |
| Cemex UK | - | 1,000 | (1,000) | - | - |
Page 32
DocuSign Envelope ID: A521CB6E-B141-4D98-9410-76EE8757C8AD
CAMBRIDGE SCIENCE CENTRE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
22. STATEMENT OF FUNDS (CONTINUED)
| The Annie Tranmer Charitable Trust - 500 - - 500 |
The Annie Tranmer Charitable Trust - 500 - - 500 |
The Annie Tranmer Charitable Trust - 500 - - 500 |
The Annie Tranmer Charitable Trust - 500 - - 500 |
The Annie Tranmer Charitable Trust - 500 - - 500 |
The Annie Tranmer Charitable Trust - 500 - - 500 |
|---|---|---|---|---|---|
| The Earl Fitzwilliam Charitable Trust |
- | 1,000 | - | - | 1,000 |
| The Anne French Memorial Trust |
- | 500 | - | - | 500 |
| The Lady Hind Trust | - | 500 | - | - | 500 |
| 124,672 | 58,225 | (113,842) | - | 69,055 | |
| TOTAL OF FUNDS | 181,873 | 668,835 | (850,267) | - | 441 |
Advocacy funding
A donation made by two Trustees to fund the production of materials to support fund-raising initiatives and to permit increased digital marketing expenditure to support communication to a wider geographic audience and harder to reach communities
Association of Science and Discovery Centres (ASDC) - Bold Futures
Supported by the Wellcome Trust – funding towards reappraising what being a ‘Science Centre’ means and co-creating a new vision that places community needs at the heart of the organisation.
Association of Science and Discovery Centres (ASDC) - STFC Impact StemTots
Funding for new pop-up community hub in the Grafton Centre in Cambridge.
Association of Science and Discovery Centres (ASDC) - Our World From Space
Funding for the Our World From Space Programme, which seeks to promote curiosity and identify with UK space science through interactive, meaningful and exploratory experiences for children, teachers, families and diverse communities across the UK.
The Association of Science and Discovery Centres (ASDC)
We completed projects during the prior year and also benefited from a further grant of £2,500 to provide project management support to the ‘Lightyear’ Project.
BGL Group
Provides funding to expand our collection of innovative hands-on exhibits and our capacity to share them to allow us to host these exhibits in our Centre and in community spaces across the region. In addition, we will develop a complementary workshop for schools, thus integrating the exhibits into our outreach programme.
BGO Newton Propco Ltd
Funding for delivery of STEM-related activities and exhibits at community consultation event.
Cambridge City Council
Grant for STEM club for 7 to 11 year olds at Nun's Way Pavilion.
Cambridge Consultants
This grant provides support for a number of different opportunities to support our activities including PopUp science events, several editions of OpenUpScience magazine and materials to support the
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DocuSign Envelope ID: A521CB6E-B141-4D98-9410-76EE8757C8AD
CAMBRIDGE SCIENCE CENTRE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
development of our shows.
Cambridge Festival
Funding to run the 'Would I Sci to You?' Event
Cambridgeshire and Peterborough Combined Authority
Market Towns Programme – supporting Social Enterprise in towns and villages. Delivery of an educational STEM programme via pop-ups in local buildings to raise awareness and aspirations for related study and careers.
Chatteris Town Council
Funding towards a pop-up centre in Chatteris
Debbie Allen
A contribution towards the ‘STEM in the Fens’ project designed to provide participatory and creative STEM spaces that unite schools and communities and raise aspirations in the heart of the underserved Market Towns of the Fenland Local Authority in Cambridgeshire.
East Coast Skills
This grant supports the delivery of school roadshows at Cleethorpes Academy.
Edina Trust
Grant towards transport for 20 primary schools to attend STEM in the Fens hubs.
EET Evolution Education Trust
Grant to fund participation in the EvoEd Challenge Fund Community of Practice (CoP).
FAAM - Atmospheric Science
A collaboration to create and run a school's programme that enhances understanding of weather and meteorology. The programme requires participating children to collect cloud cover data.
Ganzoni Charitable Trust
Funding towards the cost of a school roadshow.
GrantScape
A contribution towards the ‘STEM in the Fens’ project designed to provide participatory and creative STEM spaces that unite schools and communities and raise aspirations in the heart of the underserved Market Towns of the Fenland Local Authority in Cambridgeshire.
Growthworks
To fund consultancy support in planning for the future growth of the core business including a feasibility study for a new centre and associated income streams, expansion of core products and a new ticketing website.
Illumina Corporation Foundation
Launching in April to support Illumina’s DNA day and supporting STEM outreach, including a Genomics themed Science Show and exploration of concepts for new science centres.
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DocuSign Envelope ID: A521CB6E-B141-4D98-9410-76EE8757C8AD
CAMBRIDGE SCIENCE CENTRE (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
Ironmongers Foundation
Provided a donation towards the delivery of outreach in schools in Peterborough.
Johnson Matthey
Funding to support repeat, week-long school Roadshows to enable in-depth evaluation of the effectiveness of this approach; to deliver single-day school visits in areas of Multiple Deprivation across the East of England; to continue to deliver community STEM designed to unlock the potential and selfbelief of children in specific communities and increase their ‘science capital’.
LifeArc
To support the development of a new Cambridge Science Centre, along with content development and to encourage greater participation in science from underrepresented cohorts by supporting STEM outreach to the secondary school age group in underserved areas.
Metalcraft Community Fund
Grant for equipment for the pop-up centre in Chatteris.
Mills & Reeve
Donation for STEM activities in King's Hedges Autumn half term.
National Lottery
Cambridge Innovation Early Years Hub - funding a 'pop-up' STEM Community Hub in the Grafton Centre providing a vibrant and fun space, which engaged children (0 – 5) in exploratory play activities that are purposefully designed to encourage and support parents to interact with their children - appealing across community divides.
National Philanthropic Trust
Grant to fund staff salaries.
Norfolk Community Foundation (Dudgeon Community Fund)
This grant supported the delivery of STEM activities.
North Cambridge Community Partnership (NCCP) - STEM Club
Provided a donation towards the STEM Club.
Nuclera Bio-tinkering lab
Grant towards Cambridge Science Centre Biotinkering Lab.
Redgate Software Limited
Funding towards the Redgate coding workshop for Key Stage 2 and 3 young people using the Lego SPIKE Essentials* learning system.
Royal Academy of Engineering
Grant towards the "engineering our tomorrows; future engineering to spark curiosity, ignite passion" project. The project creates a new interactive show, hands-on activities and classroom kit boses for use by both CSC and engineers. It will enable engineers to share their enthusiasm and expertise and to understand what makes first quality science communication and engagement.
Royal Society of Chemistry
A contribution towards the ‘STEM in the Fens’ project designed to provide participatory and creative STEM spaces that unite schools and communities and raise aspirations in the heart of the underserved Market Towns of the Fenland Local Authority in Cambridgeshire.
Simon Gibson Charitable Trust
A contribution towards the ‘STEM in the Fens’ project designed to provide participatory and creative STEM
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DocuSign Envelope ID: A521CB6E-B141-4D98-9410-76EE8757C8AD
CAMBRIDGE SCIENCE CENTRE (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
spaces that unite schools and communities and raise aspirations in the heart of the underserved Market Towns of the Fenland Local Authority in Cambridgeshire.
The Anne French Memorial Trust
Grant towards the cost of the School Roadshow at King's Lynn Academy.
The Annie Tranmer Charitable Trust
Funding towards school and community outreach at Copleston High School, Ipswich.
The Earl Fitzwilliam Charitable Trust
Funding towards school and community outreach at Ormiston Bushfield Academy.
The Geoffrey Watling Charity
Grant for STEM School Roadshows at King's Lynn and Lowestoft.
The Lady Hind Trust
Grant for STEM School Roadshows at King's Lynn Academy.
The Mrs L D Rope Third Charitable Settlement
Donation towards the delivery of outreach to schools in the Ipswich area.
The Ogden Trust
Funding for Fenland pop up science centres.
The Steel Charitable Trust
Donation towards the delivery of outreach to schools in Luton area.
Trinity College (CSP) Ltd
Funding for school outreach programme at Arbury Primary School.
WOW STEM Educational Support (EET Evolution Educational Trust)
This grant allowed CSC to update its LifeWorks! exhibition with new exhibit(s) and an evolution-focused workshop. This was trialled on a fixed number of schools. It also allowed CSC to develop and implement a new CRM system, and create some new marketing collateral for schools.
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DocuSign Envelope ID: A521CB6E-B141-4D98-9410-76EE8757C8AD
CAMBRIDGE SCIENCE CENTRE (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
23. ANALYSIS OF NET ASSETS BETWEEN FUNDS
ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR
| Restricted | Unrestricted Total |
|
|---|---|---|
| funds | funds funds |
|
| 2023 | 2023 2023 |
|
| £ | £ £ |
|
| Tangible fixed assets | - | 111,576 111,576 |
| Intangible fixed assets | - | 28,000 28,000 |
| Fixed asset investments | - | 1 1 |
| Debtors due after more than one year | - | 23,594 23,594 |
| Current assets | 208,982 | 94,456 303,438 |
| Creditors due within one year | - | (155,375) (155,375) |
| Provisions for liabilities and charges | - | (43,351) (43,351) |
| TOTAL | 208,982 | 58,901 267,883 |
| ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR | ||
| Restricted | Unrestricted Total |
|
| funds | funds funds |
|
| 2022 | 2022 2022 |
|
| £ | £ £ |
|
| Tangible fixed assets | - | 10,589 10,589 |
| Fixed asset investments | - | 1 1 |
| Current assets | 69,055 | 167,923 236,978 |
| Creditors due within one year | - | (172,811) (172,811) |
| Provisions for liabilities and charges | - | (74,316) (74,316) |
| TOTAL | 69,055 | (68,614) 441 |
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DocuSign Envelope ID: A521CB6E-B141-4D98-9410-76EE8757C8AD
CAMBRIDGE SCIENCE CENTRE (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
24. RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net income/(expenditure) for the year (as per Statement of Financial Activities) ADJUSTMENTS FOR: Depreciation charges Dividends, interests and rents from investments Decrease in stocks (Increase)/decrease in debtors Increase/(decrease) in creditors Movement in provisions NET CASH PROVIDED BY/(USED IN) 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 2023 £ Cash at bank and in hand 154,949 154,949 |
2023 £ 267,442 9,089 (273) 2,210 798 (17,431) (30,965) 230,870 2023 £ 248,016 248,016 Cash flows £ 93,067 93,067 |
2022 £ (181,432) 41,666 (213) 3,336 7,308 (25,797) 49,316 (105,816) 2022 £ 154,949 154,949 At 31 December 2023 £ 248,016 248,016 |
|---|---|---|
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DocuSign Envelope ID: A521CB6E-B141-4D98-9410-76EE8757C8AD
CAMBRIDGE SCIENCE CENTRE (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
27. 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 £11,883 (2022: £9,755). Contributions totalling £2,622 (2022: £NIL) were payable to the fund at the balance sheet date and are included in creditors.
28. OPERATING LEASE COMMITMENTS
At 31 December 2023 the Charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:
| Not later than 1 year Later than 1 year and not later than 5 years |
2023 £ 61,542 94,458 156,000 |
2022 £ - - |
|---|---|---|
| - |
The following lease payments have been recognised as an expense in the Statement of Financial Activities:
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Operating lease rentals | 66,855 | 56,475 |
29. RELATED PARTY TRANSACTIONS
At 31 December 2023, 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. At 31 December 2023, the subsidiary owed £159 to the Charity (2022: £159).
During the year, donations totalling £96,000 were received from two trusts associated with two trustees (A East and D Cleevely). Donations totalling £17,006 were received from three trustees.
During the prior year, three donations totalling £200,000 were received from two trusts, one associated with D Cleevely and one associated with A East.
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