Company registration numb¢r: 7966258 Charity registratiOD number: 1152478 Starburst Foundation (A compaDy Ilmited by guarantee) Annual Report aDd Financial Slatements for th¢ Y¢or Ended 29 Febnmry 2024 Stewart & Co Ac¢ountsDts LLP Knoll House Knoll Road Camberley GU15 3SY
Starburst Foundation Contents Reference and Administrative Delails Tnte¢s, R¢port 2to8 Independent Examinevs Report ststernent of Financial Activiti¢$ io Balance Sheet Not¢s to the Finati¢l Stst¢rnts 12to19
Starburst Foundation Reference and AdmiDlstrativ¢ Details Trustees L C Rowlinson MGGwor M H Dunnage J Pollo¢k H Ellsmore T Mcwillian) PM Woodford G Jones A BarTycki 1152478 Charlty ReElstratlon Number Company Re8lJtrntion Number 7966258 Regtslered Offlce Starburst Studios, Old Scbool Lane Yatelcy GU46 6NG IndepeDdeDt ExamlDer Stewart & Co Accountants LLP Knoll House Knoll Road Camb¢rl¢y Surrey GU15 3SY Page I
Starburst Foundation Trustees, Report The trustees, who are directors for the puryx)ses of company law, present th¢ annual report together with the fae1a1 5tstements of the charitable company for the year ended 29 Febnjary 2024. Stru¢tur¢• gov¢rnan¢¢ ond mgn4g¢menl Nalure ofzovernlng documenl Starburst Foundation is a Company limiled by guarantee governed by its Memorandurn and Articles of A880ciation dated March 2022 Iupdaled) and agreed at a regular conunitt¢e meeting with quorate of t$¢¢¢$. 11 is registered as a charity with the Charity Commission. Re¢rMlthwnl and appolnln¥nl oflrmslees St8thust Foundation el¢cts a minimum of 3 and a maximum of 11 individuals (as per th¢ Arti¢l¢s of Association) at the annual 8¢nerdl meeting. Those elected ar¢ norn)ally individuals who re8ularly support the charity and who are willing to give up their time free of charge to continue the cbarity's work. Trustees may also be elected by a decision of the Board if extenuating circumstances are encountered. All the Trustees for Companies House are known as Directors. The charity follows guidance from the Clwiti¢s Commission for Finding New Tntee$. Indu¢don and tralnlng olfrus¢ee4 Trustees are inducted as soon as possible after they are recrniled. They are provid¢d with appropriate charity and company paperwork such as relevant policies and Articles of Association. Also. new Trustees are provided with links to Charity Commission paperwork io enable them to become familiar with their roles and re8pon$ibiliti¢$. P4bllc benefv The trwtees Confirni that they have complied with the requirements of section 17 of the Charities Act 201 R to have due regard to th¢ public benefit 8uidaThce published by the Charity Commission for En8land and Wales. Theatre Division Report: Objecllves, slrnle8les and a¢lMtla The Theatre Division of Stsrburst Foundation exists to promote the enjoyment of the arts to the local community, train future perfonncrs, teclmicians, and Creatives, and raise money to fund life-cnhancing equipment for disabled children in the local arca. In 2023124 we aimcd to meet these objcctivcs through two pritnary activitie5: a Summer prnduction and a ClwA8tm&8 pantomime. Alongside these activities, the theatre division planned to use soci81 media and local events to publicise our activities and the activities and objectives of thc whole Foundation. Achlevements ldperforNnr¢ Summer 2023 Starburst, 5tsged another one of the popular ¢abaret-Style shows perfonned at The Harlington in fleet from 5th - 8th July 2023. titled 'Nou8hty Nineties.. For this production we sold 521 tkckets. which was approximately 6/• of our totsl capacity for the run and up 5ty/0 on sales for the cabaret perfornied in 2022. This generated an income of £7J96. With show fees and Fronl of House added and all costs deductrf we flnished the produdion with £2371.64 of profit for Starburst Foundation. This production was a success and gave more performer5 the opportunity to Showcase their ski]15 due to the llatIe of rehearsals and the amount of content in the Show. Page 2
Starburst FoundatlOD Trnstees, Report Panto 2023 Fleet Panto 2023 was Dick Whittington and the theatre division was d¢lern)in¢d, as ever, to build upon the su¢¢e&8es of previous shows. We auditioned a]most 100 perforniers and began rehearsals in September, with the show running from 9th- 29th D¢¢¢mber &t The Harlington. The production sold SJ86 tlekets, wkn'ch was around IOVO up on last year. This equaled £8S093.75' which shows that panto continues to have a steady increase in profits each year. This year we didn't charge our cast show fees due to the high level of ¢ommil)nent we are asking from perforniers, so ticket sales Combined with Front of House. matched donations, and cbarity show tickets. produced an astounding £87,780.80. In a Cost of living crisis, and with a budget that was generally higher due to increased costs, and in a year that bas been hugely fmancially testing for Starburst due to other fmancial avenues, it's a great achievement and everyone involved ID the production should be extremely proud. This goes to show that StaTburst continues to produce high-quality productions year OD year, helpin8 to raise money for local children and bringing the arts lo the local ommunity. As per our objectives, w¢ utilised local events to promote the work of the company and the th¢itre division's a1vitIes. Th¢s¢ events included Farnham Chri51mas Light Swilch-on and Fleet Festivities. We also met our objective of working with new ¢reativ¢s as we welcomed Henry to the company as our Musical Director for panto, and we wiu ¢on¢inu¢ fmd and nurture new talent in all areas of our produ¢lion5 goin8 forwar including casl member Jonika who has volunteered to write a script alongside direct Repxe for our 2024 pantomime, Cinderella. Throughout the process of every production, we learn valuable lessons that are takeD fomrl eDSurin8 the theatre division is always evolvin8 and aimiD8 to beat the success of the previous show. We do this through regulor meetings and ¢heck-in, and most importantly by a d¢bri¢f meeting once the production has closed. This y&gr I have also intn)duced a cast and crew 'feedback fonn, to eDable feedback from a wider range of people such as cast, parents and all volunteers from all aspects of the show, so that during the debrief process we have w¢ll rounded feedback from different perspective8. I would like to take a moment to whole-heartedly thank everyone that made panto and the summer production possible. From production and creative, to tech and chaperones, Front of House and ban and everyone that stepped on sta8¢. Without everyone donating their time and expertise to create a brilliant Show, we would not bave had such an overwhelmingly positiv¢ response from our audiences. As a division rely entirely OD volunteers who kindly donat¢ th¢ir tim¢ and knowledge, and this is never taken for granted. The fvture looks bright for Starburst Theatre Company as we enter 2024125. When I rejotned the committ¢¢ in April 2023 1 had some plams for how I wanted to shape th¢ company. having previously been the Theatr¢ Director for 5 yeats between 2014 & 20191 have had the pleasure of watching the company grow tremendously and after some time away to give bit1b to a human being I was energis¢d with a new drive to pusb us even further. In 2025 Starburst Theatre Company will be perforniing our summer musical in a bigger, and we hope, ore exciting venue - Camberley Theatre. We hope that Camberley Theatre will allow us to break through our ¢UTr¢nt ¢¢ilin8 and to enable us to Inject more into our already high level perforn)ances, by Using a venue with more professional feel throughout. For a more professional Style theatre, we Deeded to pick a show that was going to be popular with audiences, as well as cast and s(xnething that we knew we could perforni to a high standard to ensure we Can make the mosl of this opportunity - so we wiu be perfomiing in Gr¢ase in sun)mer 2025. Page 3
StArburst Foundation Trustees, Report Application Division Report: Objeclhw andacllvlde The Applications Team primary objective is to receive. review and process appli¢ations for equipment for children with special needs, disabilities and life limiting ¢ondiiions. Our secondary obje¢tive is to raise awareDess in the wntnunity of appli¢atioDs funded (usin8 case studies) to generate further applications. The Ball & Events t¢am is a fornial sulFt¢4m. I)nble to the StarbuN Foundation Commitl¢e, to raise funds exclusively lo support applications for children. There is Currently no Fundraising Director so reports or¢ submitted to th¢ Committee thTOU8h th¢ Applications DIrlOr. A¢hleveme#ts andperlormtTnce During the reporting period we funded 8 applicalions with a t(rtal of £13,43&59 worth of items gifted lo the organisation or child. Beneficiary I Car Seat and Ipad for an individual child with Autism. Beneficiary 2 Car Seat for an individual Child with Epilepsy and global delay. SensoryTrlay equipment for a I¢xAI charity which runs piaywups and clubs for Beneficiary 3 children with special needs and disabilities. Sen8OryIPlay equipment for the SEN Department of a local School for their Beneficiary 4 sensorylwellbeing cabin to support children with special needs. Beneficiary 5 Wheelchair adaptations for an indiv1thl child with Cerebal Palsy. Beneficiary 6 Wheelchair for an individual child with Cerebral Palsy. Beneficiary 7 Special Needs Pushcbair for an iDdividual ¢hild with non-verbal autism. Ipad, Communications App and Case for an indAvidua] child with Angelman Beneficiary 8 Syndrome and Epilepsy. £572.92 £813.61 £3.031.00 £1.663.07 £1994.00 £3,470.00 £979.00 £911.99 £13,435.59 FundralJin8 During the reporting year, a total of approxlmately £A703 was generated by events, or donatsd directly to support the applicp4tions process. This included: Money raised from ticket sales d doDatiQDS at the Starburst Annual Bli& Ti¢ Charity Ball {O¢tob¢r 2023) gave a profit of £2,252.59. The Starburst christm Fayre held in November 2023 raised £850; Donations from local business. networks •nd members of th¢ public includ¢d £1376 IBerkshir¢ Fre¢masons): Profit from front of bouse during StaTbutSt Foundation produ¢tions Nou8hty Nin¢ti¢s (July 2023) of £440 and Dick IVhittin8ton in December 2023 (£1.785). Page 4
Starburst Foundation Trustee8' R¢port Theatre Academy Activities: Objecllves ahdA¢llvllles Starburst Theatre Academy (STA) is a musical theatre academy is b&8ed in Yaleley. The Academy aims to reach out to vArious children including disadvantaged ¢hildren from dAfficult backwunds who would oot nornially undertake the 5 due to domestic circumstances. It also aims to give high-quAIity training using professionally trained teachers and working professionals. We embrac¢ all abilitie4 and promote the values of passion, integrity, respecL respots8ibility. honesty and re8ili¢n¢¢ in all our Students. We give students the opportunity to learn and develop skills in singing, acting and dancin& and lo se these kill$ ID an annual perforniante, as well as the opportunity to audition for roles in our own award-winnin8 shows, most notably the Fleet pantomime whicb the Starburst Theatre Division produce each year. Our key aims going forward are to increase these numbers to ensure a constant strcfim of talent filters through the Academy and into our theatre productlODS, and that the profits of this increase are used to benefit the primary goal of the Foundation: to raise moncy for the equipment and support of disabled chilthn in thc local are4 and to rdise funds for a Stsrburst Foundation that can house the needs of all our divisions. To do this. we aim to: Create an AdemY MaTkeling scoMmIttee to increase our SOCi841 media and online presence. This will be overseen by the Marketing Director and linked to the wider Foundation to ensure cohesion. Restart our adult classes as these have not been possible since moving out of our Aldershot premises. Tap, Jaz4 Ballet and Choir are current aveDues we wish to explor¢. Sp¢ok to the local council rewding reaching out to underprivi1¢8ed children who would not usually be able to access the orts and would benefit from a scholarship to the Academy. Achlevements andperfornmnee We have established the Academy at the new Starburst Studios in Yateley since September 2023, when the studi05 opened. This allowcd us to shift the Social Media focus to the SuOund1g towns and villages to Yateley and we DQW have 31 children sied up to atteDd weekly, ranging from 6 to 17 years of age. We nm regular Social medial out reach via Instagram, Facebook wd TikTok, using weekly footsge and ¢ont¢n¢ creation by the teachers. We are now in a robust position to move the holarShip program forward. We have a expanded pool of teachers $pecialisiDg ID Vocal. Drnma and donce disciplines. Page 5
Starburst Foundation Trustees, Report Technieal Division Report: ObJecdveJ ondAcilvld Thc tcchnical division's primary objective i8 to provide central support for all technical activities to the wider foundation. This may include providing the foundation-wide cloud and on-prernises InfrtrUctUre to allow the rest of the foundation to fulfil their objectives. maintaining and driving improvement of infrastructure and proccsses, and tsking the lead on technical investment proposals for all departments. The teclmical division has an objectiv¢ to maintsin and improve the foundation'5 operational 5¢¢urity and efficiency in the technical domain. The technical division h&8 an objective to maintsin operations of our hire services for both technical equipment and c05tumcs, including id¢ntifyin8 appropriat¢ bir¢ rat¢s. d¢v¢lopiDg strat¢gi¢s. liaising with hir¢rs, and managing payrnents. The technical division h&8 an obJ¢¢tiv¢ to 8UPPQrt Li8htin& Sound AV, and Special FX provision for Theatre and Academy division activiti¢s. The technical division h&s an objective to liais¢ with the other directors lo coordinate th¢ timely release of information. includin8 maintainin8 the foundation's portfolio of websites, AChIevenllts andPerfornonce Additionally identified routes for cosl r¢du¢lions on domain name renewals - these are currently in the process of bein8 migrated. The new provider will also provide us with more security options for our various hosted services. Supported the design, installation, and maintenance of IT provision within Starburst Studios. including WiFi, Offi¢e Pcs, TVS, Audio Systems, PriDters and security. CCTV procurement and installation still being worked through with several external partners. Currently spearheading a foundation-wide move to centralised IT infrastrncture in the fonn of Office 365, allowin8 for more secure operatio, better data handlin& mana8em¢nL and governance. greater audit pabilities, and user a¢¢ountability. Tak¢n ownership of the hire of techni1 equipment and costumes from Pete Woodford. Working to revitalisc ow presses, policies, operations and outrca¢h. L{king to tsrget the local schoolslclubs market with cheap And local equipment hire to incre&8e equipment utilisation and cement our position as an cntity with a focu5 on the community rather than just profit mar8itkq. Mosl recently, we have maDa8ed to raise nearly £700 from a 2 week hire of our wireless microphone syskm io a lo¢al s¢bool al0. start investigations to make use of Google-provided advertistng to promote our various divisions and their activities. Also started on an SEO overbaul for our websltss to improve yeatch engille perfornmnce. FlngDciAI review PoU¢y on reserves Current aad last updated Feb 2022. Page 6
Starbllrst Foundation Trustees, Report Truste and offi¢¢rs The trnstees and officers serving during the year and since the year end were as follows: Trustees: L C Rowlinson (appointed 23 October 2024) M G Gayi)or (appointed 23 October 2024) M H Dunnage (appointed 15 February 2024) J Pollock (appointed 10 August 2023) H Ellsmore (appointed 10 August 2023) T Mcwilliam (appointed 23 October 2024) PM Woodford G Jones (appointed 23 October 2024) A B1y¢ki (appinted 10 Au8USt 2023) ststemenl of truste, rupoDJibilltkJ The trust¢¢s (who are also the diredors of Starburst Foundation for the purp05cs of company law) are responsible for pr¢parin8 the trustees, report and the fmancial statements in accordance with applicable law and United Kingdom A¢countin8 Standards (United Kingdom GeDerally ArK¢pt¢d Accounting Practice), iDcluding FRS 102 "The Financial R¢portiD8 Standard applicable in the UK gnd Republic of IreiaDd" Company law requires th¢ trustees to prepare financial statements for each fmanciaj year. Under company law the trnstees must not approv¢ the financial staternents 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, includlng its income and expenditure. of the ¢haritsbl¢ ¢ompany for that period. In preparing these fuwicial statements, the Inte¢S are required to: select suitsble accounting )11¢1¢$ and apply th¢m ¢onsistentlyi observe the metho&8 and principles in the Clwiti¢s SORP: make judsem¢nts and estimates that are reasonable and PTud¢nt; state whether applicable accounting standards, comprising FRS 102 have been followed subj¢rt to any material d¢partur¢8 disclosed and explained ID the fman¢ial slatements; and prepare the financial Statements on the going ¢on¢ern basis unless it is inappropriate to presume that the ¢harilabl¢ company will ¢ontinu¢ in busine5S. The trustees are responsible for keeping proper accounting records thal can disclose with reasonable accuracy al any time the fmancial p)sition of the charitable company and enable them to ensure that the fmancial statements comply with the Companies Act 2006. They are also responsible for safrguarding the assets of the chItable company and hence for tsking reasonable steps for the prevention and detection of fraud and oth¢r irre8ulaTities. The trustees are responsible for the maintenance ond integrity of the corporate and fman¢ial inforniation in¢luded on the charitable company's website. Legislation governing the preparation and dissemination of rllMDcial ststements may differ from legislation in other jurisdictions. Page 7
Starburst Foundation Trustees, Report The annual report Wa5 approved by the trustee5 of the charity on 23 November 2024 and Signed on its behalf by: T Mcwilliam Truste¢ PM Woodford Tru5te¢ Page 8
Starburst Foundation Independent Examiner's Report to the trustees of Starburst Foundation ('th¢ Company,) I report to thc charity trustees on my examination of the accounts of the Company for the year ended 29 February 2024. Responsibilities and bagis of report As the charity's trustee5 of the Company (and also its directors for the PUTposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 A¢t'). Having s*isfied 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 your charity's accounts as CWTied oul under section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the Dir¢ctii)ns given by the Charity Commission under section 145<5Xb) of the 2011 Act. Independent examiner's Statement I have completed my examination. I confum that no matt¢rs have eome to my attention in connKtion with the examination giving m¢ ¢ause lo believe: l. accounting records were not k¢pt in respect of Starburst Foundation as required by seeiion 386 of the 2(M)6 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 Tequiremeni that the accounls give a 'true and fair view, which is not a matter considered as part ol an independent examination; or 4. the accounts have not been prepared in accordan¢e with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities lapplicable (o 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 propcr understanding of the accounts to be reached. Charlotte Ryan Bsc ACA Stewart & Co Accountanis LLP Knoll House Knoll Road Camberley Surrey GU15 3SY 23 November 2024 Page 9
Starburst Foundation Statement of Financial Activities for the Year Ended 29 February 2024 Uncluding In¢om¢ and Expenditure Aceount and Statement of Total Recognised GaiDS and Losses) Unrestricted funds Restricted funds TotAI 2024 Note lttcome and Endovrnients from: Donations and legacic$ Charitable activities Investment income 8,338 126.159 89 38.473 46.811 126,159 89 Total income 134586 38,473 l73.059 Expenditure on: Charitsble activities 177.61 Total expenditure N¢t (expenditureyincome Net movement ill funds 172,165 5,452 177.617 (37,579) 33,021 (4,558) RecoDclllatlon of fuDdJ Total funds brought forward Total fim(Ls ¢WTied fonvard 86,851 86.851 15 49,272 33.021 UDrestrlcted fuDd* 82,293 Totsl 2023 Note In¢ome #Dd EndoY4ments from: Donations and legacies Charitable activities Investment inc(¢ 5,600 129,673 17 5,600 129,673 17 Total income 135,290 Expenditure on: chilable activities Totsl expenditure Net income 100.145 IQO.145 35.145 35,145 Net mov¢m¢nt in funds 35,145 35,145 ReconciliatloD of fuDdg Total fimds brougbt forward 51.706 51.706 Total funds carried forward 15 86.851 86,851 All of the ¢lwity's activities derive from conttDuiDg operations during the aEM)ve two periods. Th¢ funds breakdown for 2023 is shown in nole 15. The notes on page5 12 to 19 forni an integral part of these fAnCial statements. Page 10
Starburst Foundation (RegistratlOD number: 7966258) Balance Sheet ¥45 at 29 February 2024 2024 2023 Note Flxed asselj Tangible assets 60,338 Current assets torS Cash at bank and in hand 12 13 8,037 20,593 28,630 33,822 54,675 88,497 Credl¢ors: Amounts falling due within one year 14 6,675 1,646 Net eurrent assets 21,955 86,851 Net ojsets 82,293 86.851 Fund$ of th¢ eharity: Re5trleled Intome funds Restricted funds 33,021 Unrestrlcted Income funds Unrestricted funds 49,272 86,851 Tolal funds 15 86,851 For the financial year ending 29 Febnwy 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities: The members have not required the chority io obtain an audit of its accounts for the year in question in accordance with section 476.. and The directors acknowledge their responsibilities for complying with the requiremenls of the Act with respect to accounting records and the preparalion of a¢¢ounts. The fmancial statements on pages 10 to 19 were approved by the trustees, and authorised for issue on 23 November 2024 and signed on their behalf by: PM Woodford Trustee The notes on pages 12 to 19 forni an integral part of these fmancial statements. Pagell
Starburst Foundation Notes to the Financial Statements for the Year Ended 29 February 2024 I Charity Statuj The charity is limited by guar&ntee, incorporated in , and consequently does not bave share capital. Each of the trustces 15 liable to contribute an amount not cxcecding £Nil toward5 the assets of the charity in thc evcnt of liquidation. The address of its registered office is: Starburst Studios, Old Sthool Lan¢ Yateley GU46 6NG Th¢$¢ fmancial ststements were authorised for issue by the trustee$ ott 23 November 2024. 2 A¢couDtIDg pollcles Svmrn•ry of sl8nlll¢ant ae¢ountln8 pollclts and key accountlng e8tlmates The principal accounting policies applied in the preparation of these fmancial statements are set out below. These policies bave beell consistently applied to all the years presente4 unless othenvise slated. Statem¢Dt ofcompllan¢¢ The fmancial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Prnctice (applicable to clwities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019> - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Bmts of preparatloll Stsrburst Foundation me¢ts the definition of a public benefit entity under FRS 102. Assets and liabilities are initially reCognid at historical cosl or traDsaction valu¢ unless oth¢nvise stated in th¢ relevant ac¢ountin8 policy notes. Going coneern The InleeS consider that there are no material uncertainties about the charity's ability to continue as a going n¢ern nor any Silficant areas of uncertainty that affect the carrying value of assets beld by the charity. IDtome and endowments 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 the income receivable can be measured reliably. l)onfjllons and legacles Donations are only included ID the SOFA when the geDeral income recognition criteria are met. Grants reeelvoble Grants are recognised when the charity has an enlitlement to the funds and any conditions linked to the grants have been met. Where perforniance conditions are attacbed lo the t and are yet to be mel the income is recognised as a liability and included on the balance sbeet as deferred income lo be released Page 12
Starburst Foundation Notes to the Financial Statements for the Year Ended 29 February 2024 Inves1nnff Incon This is inclu(kd in the a¢couDts when elpt is probable, and the amount receivable ¢an be measured reliably. Expendlture Expenditure is accounted for on an accruals basis and Iw been ¢1$]ried under headings that aggregate all cost related to the ¢ate80ry. Ch4rllable acilvlrfles Charitable expenditure Comprises those costs incurred by the charity in th¢ delivery of its activities and services for its beneficiaries. It iocludes both costs that can be allocaled directly to such activities and those costs of an indirect nalure necessary to support them. Support costs Support costs include central fimctions and have been allocated to activity cost Categories on a basis consistent w3th the use of resour¢¢s, for example, allocating property costs by floor are, or per capita, staff costs by the time Spent and other costs by th¢ir usage. Government grants Government lts are recognised based on the accrual model and are measured at th¢ fair value of the asset received or receivable. Grants are Classified as relating either to revenue or to assets. Grants relating to revenue ar¢ rKo8nised in income over the period in which th¢ related costs are reColS¢d. Grants relating to assets are recognid over the expected useful life of the asset. Wber¢ part of a grant relating to an uset is d¢ferre(L it IS recognised os deferred income. Taxitlon The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the deflljilion of a charitttble Company for UK cory)oration tsx purposes. Accordingly. the Iwity IS Potentially exempt from tsxation in respe¢t of income or capital gains received within categories overcd by Chapter 3 Part I l of the Corporntion Tax Act 2010 or Section 256 of the Taxation of Chargeable GaiDS 1992, to the extent that such income or gains are applied exclusively lo Chitable purposes. TaDglbk Ilxed assets All assets costing more than £200 are capitsli3ed and valued at historical Cost. Depreelatlon and amortballon Depreciation is provided on tangible fLxed assets so as to write off the cost or Valuatio less any estimated residual value, over their expected useful economic life as follows: Asset elass IKasehold improvements Fixtures and fittings Depreelatlon method and rale IOO/o straight line 25Yo reducing balance Trade debtors Trade debtors are amounts due from customers for mercbandise sold or services perfoTtned in the ordinary course of businc5S. Page 13
Starburst Foundation Notes to the Financial SlatemeDts for the Year Ended 29 February 2024 Cash and equfvalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-tenn knghty Ilquid investments that are readily convertible lo a known amount of cash and are subject to an insignificant risk of change An value. Trade eredltors Creditors are recognised where the Charity h&8 a present obligation resulting from a post event that will probably result in the transfer of fimd8 to a third party and the 8mount due to settle the obligation ¢an be me&sur¢d or egtimated reliably. Fvnd strncture Unr¢strict¢d incom¢ funds are general funds that are availabl¢ for us¢ at the trustee5 discretion in furtherance of the obJtIveS of the ¢h8rity. Kestricted IldS can only be u8¢d for pArti¢ulw r¢stri¢t¢d purposes within th¢ objects of the charity. Restrictions arise wh¢n sp¢¢ified by th¢ donor or when fid$ are raised for p8rti¢ular restricted purposes. 3 ltt¢ome from donatlons and legackJ UDr¢glrl¢ted nds Gen¢r41 Reitrlded runds Totsl 2024 Total 2023 Donations and legacies. Donations from individuals Grants, in¢ludin8 capital grants; Government grants 8,338 30.973 39,311 5,600 8,338 38.473 46,811 5,600 4 Incom¢ frow ¢harltabl¢ adlvltks Unrestrlcted fundy General Total 2024 Total 2023 Show incom¢ Academy income Ball income Services income 88.210 17,520 7,857 12,572 88,210 17,520 7,857 12,572 97,033 15.153 9.311 126,159 126.159 129,673 Page 14
Starburst Foundation Notes to the Financial Statements for the Year Ended 29 Febrnary 2024 5 Inveytment Income Unrestrict fund$ G¢D¢rg1 Total 2024 Total 2023 Interest receivable and Similar income; Interest receivable on bank deposits 89 89 17 In 2023 all of the inveslmeDt income related to unrestricted fuDds. 6 Expendlture on charltabk a¢tlvili Unr¢slrlded funds General Restrleted funds Total 2024 Totsl 2023 Direcl charitable eXndItre Allocated support C08ts 151,626 5,452 157,078 20,539 85.729 14,416 172,165 5.452 177,617 100,145 Unrutrlcted Ibnds General Regtrleted funds Totsl 2024 Total 2023 Dlreet ¢xpeDdllur¢ Show expenditure Venue hire Teaching fees Ball expeodilure Other direct expenses Academy expe¢$ Promotion and advertising Light and heat for studio 104,966 4,071 12,255 4,210 14,585 2,121 251 104,966 9,523 12255 4,210 14,585 2.121 251 9,167 48,714 9,771 ,597 983 11.782 996 4,886 5,452 151,626 5.452 157,078 85,729 Page 15
Starburst Foundation Notes to the Flnaneial Statements for the Year Ended 29 February 2024 Unrestricted funds General Totsl 2024 Total 2023 Support costs Insurdnce Post and stationery Travel Costs Repairs and renewals Storage Costs Sub5CriPtions Training costs Computer costs Sundry expenses Bank Charges Depreciation Accounts fee tndependant examiner fee Lega] fees 1,906 36 1,906 36 1,806 120 637 152 2.418 507 392 2,730 13 610 5,806 2,719 532 5,806 2,719 532 401 197 587 108 2.220 1.980 4,047 401 197 587 108 2,220 1,980 4,047 5,031 20,539 20,539 14,416 7 Net Incomlnwoutgolnz resoureej Net (out8oin8yin¢omin8 resources for the year include: 2024 2023 lThdependant examiners fe¢ 2,220 5,031 8 Trujtees remuneration and expenses No tru5tces, nor any persons comiected with them. bave received any remuneration from the charity durtn8 the No tsIL8tees have received any reimbursed expenses from th¢ ¢lwity durin8 the year. 9 StAff coyts There were no employ¢¢s during the year Therefore no ¢mploy¢e received emoluments of more £60,(XJO during the year. AO TAi*tlon The charity is a registered charity and is therefore ex¢mpt from tsxation. Page 16
Starburst Foundation Notes to the Ffinancfial Statements for the Year Ended 29 Febrwary 2024 11 Tangibk fixed aets Leasebold Improvements Furnllure and equipment Total Cojt Additions 60,015 431 60,446 At 29 Febw 2024 60,015 431 (JO,446 Deprttlatlon Cbar8e for the y At 29 February 2024 108 108 108 108 Net book valu¢ At 29 February 2024 60,015 323 60,338 12 Debtorj 2024 2023 Trnde debtors 33.822 13 Casb aDd eajh equlvalents 2024 2023 Cash at bank 20,593 54,675 14 Credltors: amounts fallln8 due wlthln ooe year 2024 2023 Trade creditors 1,646 6,675 6.675 1,646 Page 17
Starburst Foundation Notes to the Financial Statements for the Year Ended 29 Febrnary 2024 IS Funds Balance gt I March 2023 ltteomkng resources Resources expended Balanee Al 29 February 2024 UDMtrieted fundi General StudAO renovation Rent of premesis Restrlcted funds 86.851 134.586 12,876 25597 172, 165 49272 12.876 38473 Tolal fundj 86.851 173,059 177,617 82,293 Balall¢e al I Mar¢h 2022 IDeomlD8 ruour¢es Resour¢¢J expend¢d BalaDee at 28 February 2023 UDreJtrl¢ted funds General 51,706 135,290 100,145 86.851 16 Analyslj of Det ajsets between thndj UDres(rlcted Dds General Totsl funds at 29 February 2024 Restrleted fundj Tangible red assets Current assets Current liabilities 39.962 15.985 6,675 20,376 12,645 60,338 28,630 6,675 Total net assets 49.272 82,293 UDrestrleted fundg General Total thnds at 28 February 2023 Current assets Cuttent liabilities 88,497 1,646 88,497 1,646 Total net a53ets 86,851 86,851 Page 18
Starburst Foundation Notes to the Financial Statements for the Year Ended 29 February 2024 17 Analysis of net funds At29 F¢bruary 2024 At l Mareh 2023 FhDancSng Cash nows Cash at bank and in Iwid 54,675 34,082 20,593 Net debt 54,675 (34,082) 20,593 At28 February 2023 At l M4r¢b 2022 FlnaDcID8 Ilows Cash at bank and in hand 54,147 528 54,675 N¢t debt 54,147 528 54.675 Page 19
Stsrbunt Foundation Detailed Statement of Finan¢ial Aetivities for the Year Ended 29 Febrnary 2024 Total 2024 Total 2023 Income and Endowments from: Donations and l¢ga¢ies Grants. includmg capital grants Show income Academy income Ball income Services income Bank int¢r¢$t 39,311 7.500 88.210 17,520 7.857 12,572 89 97,033 15.153 9,311 8,176 17 Total income 173.059 135,290 Expendlture OD: Show expenditure Venue hir¢ Teaching fees Ball expenditure Other direct expenses Academy expense5 Promotion and advertising Light and heat for studio A110¢8t¢d support Costs (see below) Total expendittwe Net (expendittweyincome (I04,966) (9.523) (12,255) (4,210) (14,585) (2,121) (251) (9,167) 20,539 {48,714) (9,771) (8,597) (983> (11,782) (996) (4,886) 14,416 177.617 100,145 Net movement in fimds (4,558) 35,145 Reeonclllation of fund• Total funds brought forward Total fimds carried foThvard 86,851 51,706 86.851 This page does not forni part of the statutory financial ststements. Page 20
Starburst Foundation Detailed Statement of Financial Activities for the Year Endcd 29 February 2024 Total 2024 Tot41 2023 Allocaledswporl cosls {1,906) (36) (1,806) {120) (637) (152) (2.418) (507) (392) {2,730) (13) <610) Post and slationery Travel costs Repairs ond renewals Storage costs Subscriptions Training Costs Computer costs Sundry expenses Bank char8e$ D¢preciation A¢wunts f Independant eXiner fee Legal ftts (5,806) (2.719) (532) (401) (197) (587) (108) (2,220) (1,980) 4.047 (5.031) 20.539 14,416 This page does not fonn part of the statutory financial statements. Page21