DocuSign Envelope ID: 7AB5C641-A892-4E67-A24E-F4E03EF374D0
REGISTERED CHARITY NUMBER: 1152178
I-DOTT CIO
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
DocuSign Envelope ID: 7AB5C641-A892-4E67-A24E-F4E03EF374D0
I-DOTT CIO
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 9 |
| Detailed Statement of Financial Activities | 10 |
DocuSign Envelope ID: 7AB5C641-A892-4E67-A24E-F4E03EF374D0
I-DOTT CIO
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
The trustees present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES Objectives and aims
i-dott is a charitable incorporated organisation (CIO) aimed at building links between colleges, their design students and professionals working in the creative industry.
The charity's objective is to encourage, develop and reward design students from all over the world to both lead and inspire the wallcovering and surface print industry of the future.
Designed to sit within the curriculum - or as special projects - and continually evolving in line with the needs of academic institutions across the UK and beyond, i-dott's work inspires individuality and experimentation, and provides invaluable opportunities for students to strengthen their personal and professional development.
Significant activities
The charity's flagship event is the Annual Student Wallpaper Design Competition. The student will create innovative and inspiring surface print design to transform our spaces into something individual and unique.
Originally aimed at second year Surface Design undergraduates, it now attracts entrants from students studying textiles, fine art and ceramics from colleges across the UK and Europe.
FINANCIAL REVIEW
Net incoming resources for the period were £11,021 (2020 £30,648). Total unrestricted funds carried forward at 31 March 2021 were £24,962 (2020 £35,242).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1152178
Principal address
17 Adelaide Street Clayton Le Moors Accrington Lancashire BB5 5LU
Trustees
J Carter (Chairman) J Feeney D Harrison M Ledward A Garnett S Jebbitt D Buchan
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I-DOTT CIO
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
Michael Benson BSc Phd ACA Murray Smith LLP Chartered Accountants Darland House 44 Winnington Hill Northwich Cheshire CW8 1AU
FUNDING
The charity will continue to support projects in line with its objectives and policies, namely to encourage, develop and reward design students from all over the world to both lead and inspire the wallcovering and surface print industry of the future.
18-01-2022
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ A Garnett - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF I-DOTT CIO
Independent examiner's report to the trustees of i-dott CIO
I report to the charity trustees on my examination of the accounts of i-dott CIO (the Trust) for the year ended 31 March 2021.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Michael Benson BSc Phd ACA Murray Smith LLP Chartered Accountants Darland House 44 Winnington Hill Northwich Cheshire CW8 1AU 19-01-2022 Date: .............................................
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I-DOTT CIO
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
| 2021 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 11,021 Investment income 2 78 Total 11,099 EXPENDITURE ON Charitable activities Cost of Events 21,379 NET INCOME/(EXPENDITURE) (10,280) RECONCILIATION OF FUNDS Total funds brought forward 35,242 TOTAL FUNDS CARRIED FORWARD 24,962 |
2020 Total funds £ 30,648 163 30,811 32,702 (1,891) 37,133 35,242 |
|---|---|
CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
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I-DOTT CIO
BALANCE SHEET 31 MARCH 2021
| 2021 Unrestricted fund Notes £ CURRENT ASSETS Cash at bank 26,358 CREDITORS Amounts falling due within one year 5 (1,396) NET CURRENT ASSETS 24,962 TOTAL ASSETS LESS CURRENT LIABILITIES 24,962 NET ASSETS 24,962 FUNDS 6 Unrestricted funds 24,962 TOTAL FUNDS 24,962 |
2020 Total funds £ 36,618 (1,376) 35,242 35,242 35,242 35,242 35,242 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 18-01-2022
............................................. A Garnett - Trustee
The notes form part of these financial statements
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I-DOTT CIO
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Deposit account interest | 78 | 163 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.
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continued...
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I-DOTT CIO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
| 4. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | ||
|---|---|---|---|---|
| Unrestricted | ||||
| fund | ||||
| £ | ||||
| INCOME AND ENDOWMENTS FROM | ||||
| Donations and legacies | 30,648 | |||
| Investment income | 163 | |||
| Total | 30,811 | |||
| EXPENDITURE ON | ||||
| Charitable activities | ||||
| Cost of Events | ||||
| 32,702 | ||||
| NET INCOME/(EXPENDITURE) | (1,891) | |||
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 37,133 | |||
| TOTAL FUNDS CARRIED FORWARD | 35,242 | |||
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 2021 | 2020 | |||
| £ | £ | |||
| Accrued expenses | 1,396 | 1,376 | ||
| 6. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1.4.20 | in funds | 31.3.21 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 35,242 | (10,280) | 24,962 | |
| TOTAL FUNDS | 35,242 | (10,280) | 24,962 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 11,099 | (21,379) | (10,280) | |
| TOTAL FUNDS | 11,099 | (21,379) | (10,280) |
continued...
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I-DOTT CIO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
6. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | ||
|---|---|---|
| movement | At | |
| At 1.4.19 | in funds | 31.3.20 |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 37,133 |
(1,891) | 35,242 |
| TOTAL FUNDS 37,133 |
(1,891) | 35,242 |
| Comparative net movement in funds, included in the above are as follows: | ||
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 30,811 |
(32,702) | (1,891) |
| TOTAL FUNDS 30,811 |
(32,702) | (1,891) |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.4.19 | in funds | 31.3.21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 37,133 | (12,171) | 24,962 |
| TOTAL FUNDS | 37,133 | (12,171) | 24,962 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 41,910 | (54,081) | (12,171) |
| TOTAL FUNDS | 41,910 | (54,081) | (12,171) |
continued...
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I-DOTT CIO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
7. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2021.
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I-DOTT CIO
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
| DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021 |
||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 11,021 | 30,648 |
| Investment income | ||
| Deposit account interest | 78 | 163 |
| Total incoming resources | 11,099 | 30,811 |
| EXPENDITURE | ||
| Charitable activities | ||
| Rent and rates | 1,800 | 750 |
| Postage and stationery | 2,220 | 1,384 |
| Exhibitions | - | 13,094 |
| Prize winners | 3,683 | 7,043 |
| Consultancy and event management | 8,742 | 9,568 |
| Bursary | 4,000 | - |
| Bank charges | 133 | 162 |
| 20,578 | 32,001 | |
| Support costs | ||
| Information technology | ||
| Website | 103 | - |
| Governance costs | ||
| Accountancy and legal fees | 698 | 701 |
| Total resources expended | 21,379 | 32,702 |
| Net expenditure | (10,280) | (1,891) |
This page does not form part of the statutory financial statements
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