Charity registration number.. 1152478 STARBURST FOUNDATION Annual Report and Financial Statements for the Year Ended 28 February 2025 Stewart & Co Accountants LLP Knoll House Knoll Road Camberley Surrey GU15 3SY Starburst Foundation Contents Reference and Administrative Details Trustees, Report 2to 12 Independent Examiner's Report 13 Statement of Financial Activities 14 Balance Sheet 15 Notes to the Financial Statements 16to25 Starburst Foundation Reference and Administrative Details Truslees Ms L C Rowlin50n Mr T Mcwilliam Mr PM Woodford Registered Office Starburst Studios. Old School Lane Yateley GU46 6NG Independeni Examiner Stewart & Co Accountants LLP Knoll House Knoll Road Camberley Surrey GU15 JSY Charity Registration Number 1152478 Page I Starburst Foundation Trustees. Report The trustee5 present the annual report to(pether with the financial statement5 of the CIO for the year ended 28 February 2025. Structureg governanee and management ature ofgoverning document During 2025 the charity converted to a Charilable Incorporated Organisation (CIO), with the same registered number, 1152478. Starburst Foundation is a Charitable Incorporated Oroanisation governed by its Constitution dated March 2025 and agreed at a regular committee meeting ￿'1th quorate of trusiees. It is registered as a charity with the Charity Commission. Recruilmenl and appoinlmenl oflru.slees Starburst Foundation elects a minimum of J and a M￿lmuM of I l individuals at the annual general meeting. Those elected are nonnally individuals who regularly support the charity and who are willlng to give up their time free of charge to continue the charity's work. Truslees may also be elected by a decision of the Board if extenuating circumstances are encountered. The charity follows guidance from the Charities Commission for Finding New Trustees. Induclion and training of trustees Trustees are inducted as soon as possible after they are recruited. They are provided with appropriate charity papenvork and policies. Also, new Trustees are provided with links to Charity Commission paperwork to enable them to become familiar with their roles and responsibilities. Public benefit The trustees confirni that they have complied with the requirements of section 17 of the Charities Act 201 I to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Page 2 Starburst Foundation Trustees. Report Chair's Report Through the Academy we are looking to run a scholarship prograTnTne. M,hich we have been talking about for a couple of years. The idea is we can tak-e students in the local area who cannot afford to come to the Academy and we could fund to their position and their Space to come. via social service5 or local School programmes and then maybe bring two or three kids along and we can fund their uniform as well. In the studios we are running events now, such as comedy nights and Cabaret night. The comedy nights are run by a promoter from London, who brings three acts and an MC dowm. We run a pop-up bar and we are looking to run more events. We are also looking to run some events in the back garden via the BBQ school and cooking with the open-air kitchen. We are talking about running kids parties and make your pizzas and then we cook the pizzas rather ihan shipping it in from Domino's. $0 there are lots of ideas. There is a bam dance that is on the cards, and we are looking for people lo gel involved in our events team to push forward with ideas. In tenns of charitable donations, we struggled to manage the leadership role of that position, so rather than try to do something half-hearted and li fail and make a really poor experience for the children who will be applying to us, we took the very difficult decision to suspend li for 12 months so we could get our ducks in order. This did not affect the money in the pot, as that is ring fenced. We have a new trustee Th'ho is going to take it forward and push fonvard with the applications process. and we have changed the way m-.e do our windom's of application. We used to be open all year round, now we just have two blocks. which we hope will cut dow'n the workload. We have got a few people who have already volunteered to be involved in the applications team to push fonvard, who have helped us in the past. If anybodv wants to get involved in the applications team, which involves reviewing the wishes that come throuJo . meeting the parents. meeting the children. having discussions, making sure it'5 a fit for purpose purchase and then purchasing the equipment and then arranging a donation to the family and then running on a marketing bit from that case study. Regarding infrastructure. we have reviewed our financials. and changed the way our banks work. We have changed the way our cards work. so now we have virtual cards. which has made our bookkeeping and expense tracking much more robust. Financial Report The charity finished the 2025 financial year in a strong position. with strong income across all aspects of the charity which totaled £134,075. The main income generation for the year. the annual pantomime, continued to have a strong income for the charity. The income generated across the studios and starburst property continued to cover the cost of running the studio leading to a c05t neutral c05t to the charity. This mean5 the charity is no longer having to pa). out for hiring rehearsal space which historically was a great cost to the charity. The academy continued to have strong numbers attending and as we go into 25126 predict to increase numbers still. A5 we go into a new financial year it 15 important to have strong fiT]ancial oversight and leadership. With a move to a new accounting package, Xero, tneaning M'e can confidently track the income and expense5 of the charity. With the costs of everything Continuing to increase this is a key time for the charity to be able to safely cover the costs of operatin& ¢ontinu¢ to improve facilities, increase production values and community engagement alongside donating goods to beneficiaries. The trustees approved the annual budget in February which sees a draft net surplus of £7.000 at the year end. Over the next J years a budgeted surplus of £?O,000 will be added to a reserve fund to support the charity. I would like to thank our new bookkeeper Alison who h&$ taken over the day to day running of the charity's finances and given an extra layer of support and security in being able to run the charity in a financially secure position. Page i Starburst Foundation Trustees, Report STARBURST THEATRE Theatre Division Report: Objeclives, 51ralegie5 and aclivilie5 The Theatre Division of Starburst Foundation exists to promote the enjoyment of the arts to the local community, train future perforniers, technicians. and creatives. and raise moiiey to fund life-enhancing equipment for disabled children in the local area. In 2024125 we aimed to meet these objectives through two primary activities: a summer production and a Chrislmas pantomime. Alongside these activities, the theatre division planned to use social media and local evenls lo publicise our activities and the activities and objectives of the whole Foundation. Achievements andperformance Summer 2024 Starburst staged another one of the popular cabarel-style shows perfomied at The Harlington in fleet from I lth - 13th July 2024, titled 'The Magic of Musicals For this production we sold 447 tickets, which was approximately 70% of our total capacity for the run and shows a steady increase in summer sho￿. sales over the last two years - this was up l O(/ko on sales for the cabaret perfonned in 202J and 20 % from 2022. This generaied an income of £6,684 and with shom, fees and Front of House added and all costs deducted, we f￿Ished the production with an overall £1,117 of profit. This production was a success and gave more perforniers the opportunity to showcase their skills due to the nature of rehearsals and the amount of content in the show. Panto 2024 Fleet Panto 2024 was Cinderella and the theatre division was detern]ined. as ever. to build upon the successes of previous shows. We auditioned almost 100 perfonners and began rehearsals in September, with the show running from 13th - 29th December at The HarlingLon. The production 501d 4905 tickets, which was around l 00/0 up on last year. We perfonned less 5h074's overall for this production which seemed to work w'ell in ternis of consolidating Sales. In 202J we performed 33 shows, selling about 690/0 of tickets, wherea5 for thi5 year5 panto we perfornied over 26 shows and sold 790/0 of tickets available. This equalled £71,702 in ticket sales and when combined with Front of House, matched donations, and charity show tickets, the production produced an astounding £8? 5)9 with a total profit of £24.344, which is a huge success considering a run of less show's and a production budget which gets bigger every year with rising costs and the drive to increase sho￿. quality. Boih productions un 2024 have been a huge achievement and everyone involved in the produciions should be extremely proud. This goes to show that SLarbllrst continues to produce high-quality productions year on year, helping lo raise money for local children and bringing the arts to the local community. Page 4 Starburst Foundation Trustees. Report Starburst Theatre in 2025 The future looks bright for Starburst Theatre Company as we enier 2025. 1 announced this time last year that we would be branching out to a new venue, Camberley Theatre. with Grease which we are now finnly in the swing of rehearsing with an incredible cast, including some great ne￿ members which is always exclting for the company. Panto 2025, which l am pleased io announce will now be Rapunzel. is in initial production stages, and we also hope to form up plans for another summer musical at Camberley Theatre in June 2026 - pending the success of Grease so keep working hard to make this an amazing show and get tickets sold now that the box office is officially open. STARBURST THEATRE ACADEMY Page 5 Starburst Foundation Trustees. Report Theatre Academy Report: The Starburst Theatre Academy is overseen by the Academy director. We aim to reach out to various children, including disadvantaged children from difficult backgrounds who would not nonnally undertake the arts due to domestic circumstance5, and it a150 aitn5 to give high quality training using professionally trained teachers and working professionals. Regarding perfomiing experience, we give students the opportunity to audition for roles in our own shows, most notably the Panto: which we do and produce and create every single year. Our staff are all higthly experienced in their fields and committed to supporting the Siudents in achieving their potential. Our main focus throughout the year was to improve our student's technique in all disciplines, being acting, singing and dancing and this has proven to be incredibly successful. We started the academic year in September by focusing on teaching material in two-week blocks, the first week teaching the material and then following on with polishing and working on the technical aspects durlng Week 2. The students responded very well to this and engaged in each class. There was a visible improvement for each student w'hich w'as positive, and before the Christmas half lenn w'e put together a perfonnance to show to the parents at the end of the tenn, ￿'hICh ￿'aS a show of every panlomime there has ever been in under l O minutes. This worked very well and it ￿'aS an opportunity for each student to have their own moment. Aloi)gside incorporating the technique learned over the terni leading up to this. it also enabled the classes to ￿'ork collaboratively with one another, making sure that each section of the perforniance blended. The students worked as a team when it came to putting both of the songs and dancers together in larger groups than they were originally used to working in. On the 29th August 2025 we will be hosting a West end show trip for our Students, to See Wicked in London, which all the students are overjoyed about. This year we have a150 tried to put together a more cohesive and elricient strategy when teaching by ensuring that our students have the same teachers over a block ol time, making sure that they have a continuou5 experience within classes, ensuring that the teachers are also prepared before the time ahead. We have aimed to have expansion of student enrolment across all age groups. which has proven successful as we have had several new Siudenis enrolled over the course of ihe year. We have also had a social media push to reach more potential students. showcasing what we do in classes each week, with the aim of creating more content to push further in the upcoming year. We also have our summer school, running 18th-22nd Aug 2025. In ternis of last year, the team collaborated well to put together a week of learning songs. dances and scenes from various popular shows and films such as Moana. Shrek and Descendanls. This enabled us to we have more creativity when it came to blocking and staging each particular set. At the start of the week we auditioned the children. giving them an insight inio how an audition day runs. We had an increase in attendees this year ￿'1th 20 children coming. and the perfonnance w'orked very well. with more students able to retain everything taught. shom-ing that a week is long enough for all of the students to learn everything and implement corrections as well. For performance timings, a 6pm start was a good time to begin as it also gave the children enough time to let off some steam ahead of the show, but not enouJ time to protect the corrections given. Starburst Foundation Trustees, Report Technical Division Report: Objeclives andAclivitie5 The technical division's primary objective is to provide central support for all techi)ical activities to the wider foundation. This may include providing the foundation-wide cloud and on-premises iiifraslructure to allow the rest of the foundation to fulfil their objeciives. maintainiTJg and driving improvemei)t of infrastructure and processes, and taking the lead on technical investment proposals for all departinents. The technical division has an objective lo mainlain and improve the foundation's operational security and efficiency in the technical domain. The technical division h&s an objeclive to maintain operaiions of our hire services for both technical equipment and costumes, including identifying appropriate hire rates. developing strategies. liaising with hirers, and managing payments. The technical division has an objective to support Lighting Sound. AV, and Special FX provision for Theatre and Academy division activities. The technical division has an objective to liaise with the other directOT5 to coordinate the timely release of inforn]ation, including Tnaintaining the loundation'5 Portfolio of website5. Achievepnents and Performllnce Completed a foundation-wide move to centralised IT infrastructure in the form of Office 365. Provided all users Th'ith individual accounts which has allowed us to protect volunteers personal etnail addresses when performing starburst business. more effectively manage access to our data. and increase collaboration. Office 365 has also provided us with a wide suite of new tools which has allowed us to try and digitise and aiitomate existing process. includints: Online show crew sign-up system Expense submissions Acquired a non-profit grant for a new CRM system and migrated the Foundation's members database to it - allowing for easier and more secure management of member data. Continued realising cost savings on domain name renewals by migraiing them from our current registrar, Wix, to our new wholesale-cost-price registrar. Cloudflare. Configured Google Ads grant account and made this available for the Marketing Department to use to boost our websites and pages in Google Searches. Continued supporting the Propetty depanmenl with installing and maintaining onsite IT systems. including the creation of various API tools for displaying room occupalion. controlling heating based on bookings, weekly booking notification emails, and more. As a department, we acquired a new projector for free to support show Projection follom'ing the closure of Anna Valley who w'e would usually hire from. Located and imported a new long-throw lens for this projector so that it is suitable for use in our primary venue. Goals for the year ahead Rebiiild and combine all five foundation websites into a single web51te on a new platform. Continue to grow and expand techiiical equipment and costume hires. Put all radio microphones through repair to have antennas replaced Page 7 Starburst Foundation Trustees, Report STARBURST STUDIOS Objeclives andAclivities Ensure the studios remain safe, funclional, and well-mainlained. This includes regular inspections and necessary upgrades to infrastrncture such as fire alarnis. roofing. and heating, as well as coordinating repairs with contractors and service providers to uphold the building""s long-tern] integrity. Facilitate the smooth operation of community events. classes. and private bookings by overseeing logistics, ensuring facilities are well-prepared, and maintaining high service standards. Engaging with users and stakeholders will help refine processes and address any operational concerns efficiently. Work closely with the technical division to integrate modern technology that improves building security, accessibility, and efficiency, such as upgraded access control, security systems, and audiovisual equipment to support events and cla55es. A55e55 and maintain compliance with health and safety re(Fulations. while a150 developing a long-term maintenance and sustainability plan to optimize resources and ensure cost-effective operations. Oversee operational expenditures, seeking c05t-effective solutions for tnaintenance and improvements while exploring funding opportunities to support future upgrades and long-tem) development of the facility. Achievements and Performance I I re(iular community user groups Weekend birthday parties Studio I hired i l i times Studio 2 hired 144 times Studio J hired 62 times Whole venue hired 297 times Total hire 8J8 times Filment of new CCTV system to provide 2417 monitoring of the premises, as the rate of vandalism is high in the area. Commissioning of new exterior cabin for use as a meeting room in wam]er climates, and as a staff room for Hurst Lodge. Removal and simplification of additional electricity supply resulting in cost savings. Replacement roof on the reCeptiO￿f0Yer area M'ith added insulation New rehearsal recording system available to Starburst staff. Worked with technical division to implement heating scheduling system to schedule the heating around the use of the facility. Saw a significant increase in party book.ings thank5 to word of mouth and Facebook New Turton Studio upstairs opened for public use Starburst Foundation Trustees, Report Goals for the year ahead Fire and risk assessment improvements Improve detector and sounder coverage Ensure risk assessments are up to dale and fit for purpose Work with markeiing division to increase dioital footprint of the facility online Continuing work with technical division to deterniine new ways to improve the space, look at an automated hiring process that automates access to the building with bookings. Pathway exterior lighting installation Outside kitchen build and opening spring 2nd 40ft container options to instsll Open back garden up to public use by summer Show poster timeline install on stairs Starburst applications notice wall opening Marketing Report: Objeclives andAclivities The role of Marketing is to promote all areas of the Charity and identify channels and strategies to meet the goals and aims of the wider Charity. We are one organisation with multiple services and aims. Foundation . Academy Studios Theatre This year a new dedicated Marketing Lead joined ihe committee with the aim of uniting the promotion of all branches of the Foundation. Working w.ith oiher Membe￿ of ihe committee and dedicated company members to establish an interim social media strategy and elevate promoiion of the Foundation, and particularly our show efforts. Page 9 Starburst Foundation Trustees, Report Achievements and Performance Social media Thanks to the assistance of our Technical Director. we now. have two ne￿. platfonns - Canva and Monday.com. Social media scheduling tools and CRM tools are central to the success of any marketing activities. Meta (Facebook and Instagram} are our main communicaiion and promotion channels. With three different branches of the charity having their own individual accounts, it was important to establish what content is posted where and who manages it, to keep a consistent overall message and ensure the right content is getting to the right audience. Foundation page stats Over 320,000 people have seen our content over the past year. with significant peaks during show seasons. Best performing content is consistently show. based. cast-led content which folloils social media trends. It's important to ensure cast buy-in and motivation to eT]sure this kind of content is good quality and contributes to our overall aims. The majority of our follower5 are women aged )0-50. M,hich is a fantastic captive audience to promote our opportunitie5 for children and our space hire for thing5 like Birthday parties and events. A focus for this year will be how to optimise our multiple accounts, from cross-posting to incentive5 to engage with our services. Reach has grown by over 500/0, Wlth a significani increase in reaching non-followers. This shows that our strategy of posting content across oiher sites and encouraging them to share it is ￿..OrkI1)g well in growing not only responses to our call to actions, but in general brand awareness. Our content interactions are up by l OOO/o, meaning our content is interactive and engaging - more of this! We have gained )00 followers across our socials this year, which is a benchmark for a charity of our size withoui any financial investhlent. Paid social is an area we'd like to explore further for shows, the Academy and Siudio Hire. Digital We have set up our Google Ads Grant account and slarted serving Google Ad5 for the Academy and Studios, which makes it easier for people to find us and understand more about the Services we offer. This needs ￿rther investment in time to make the full use of this free service for charities. Email marketing We have a lot of data in our svsiems thai mitshi not be GDPR compliant. We need to work on data collection to start actively emailing our communily with content they are interested in. This will be a focus for the coming year. Events Community events and relationships play a huge role in increasing our brand awareness and getting more people in the door when it comes to all areas of the Charity. Lasi Christmas ￿'e attended multiple local events to promote Cinderella, gathering over JOO leads, the majority of who are contactable for marketing and communications. These events can take a lot of effort to organise and it can be difficult to tangibly account for this. however they are a relatively easy and free M'ay to promote the Charity. More of these events should be included in organisational plans, and not just to promote specific shows. Last Christmas also saw us partner with local celebrity, The Sheep Lady, who volunteered her time to help us decorate a local roundabout to promote the pantomime, with over 3,000 Facebook followers and a strong local following. We had over l 00 people use our event-specific discount codes over the panto season, which indicates these are good value and we should continue offering them. Page 10 Starburst Foundation Trustees. Report Goals for the year ahead Need to expand the team to have social media ambassadors for show content or to focus on specific areas of the Charity Events team for Starburst Studios timely and execuled well . New collateral to promote the Studios and the Foundaiion for the local area work with Marketing Lead to develop content and ensure promotion is Financial review Policy on reserves Current and last updated Feb 2022. Trustees and 0￿]eerS The trnstees and officers servlng during the year and since the year end were as folloivs: Trustees: Ms L C Rowlinson (appointed 2J October 2024) Mr T Mcwilliam (appointed 2J October 2024) Mr PM Woodford Senior Management / Leadership Team: Peter Woodford. Chaimlan Tom Mcwilliam. Business Director Laura Rowlinson, Applications Director Megan Dunnage, Secretary Alison McLaren. Treasurer Hannah Ellsmore. Theatre Manager Jack Pollock. Technical Manager Matt Gaynor, Property and Operations Manager Jonika Kinchin, Marketing Manager AJ Barzycki, Senior Leadership Manager Statement of trustees, responsibilities The trustees (who are also the director5 of Starburst Foundation for the purpose5 of company law) are responsible for preparing the tru5tees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generallj Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of IrelaT]d" Company law requires the trustees to prepare fmancial statements for each fmancial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable compans, for that period. In preparing these financial statements. the trustees are required to- select suitable accounting policies and apply them consistently; observe the methods and principles in the Charities SORP: Pagell ## **Starburst Foundation** ## **Trustees' Report** - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the fmancial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the fmancial position of the charitable company and enable them to ensure that the fmancial 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. The trustees are responsible for the maintenance and integrity of the corporate and fmancial information included on the charitable company's website. Legislation governing the preparation and dissemination of fmancial statements may differ from legislation in other jurisdictions. The annual report was approved by the trustees of the charity on .................... anct signed on its behalf by: **.** 17/09/2025 **.** Mr PM Woodford Trustee Page 12 Starburst Foundation Independent Examiner's Report to the trustees of Starburst Foundation I report to the charity trustees on my examination olthe accounts of the Charity for the year ended 28 February 2025. Responsibilities and basis of report As the charity trustee5 of Starburst Foundation 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 Starburst Foundation's accounts carried out under Section 145 of the 201 l Act and in carrying out my elamiiiation I have followed all the applicable Directions given by the Charity Commission under section 145{5)(b) olthe Act. Independent examiner's statement I have completed my examination. I confirni that no matters have come to my attention in connection with the examination giving me cause to believe- accounting records were not kept in respect of Starburst Foundation as required by section 130 of the Act- or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements concerning the forni 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 drawTr in this report in order to enable a proper understanding of the accounts to be reached. Charlotte Ryan Bsc FCA Steivart & Co Accoun(ants LLP Knoll House Knoll Road Camberley Surrey GU15 3SY 1710912025 Page li Starburst Foundation Statement of Financial Activities for the Year Ended 28 February 2025 Unrestricted funds Restricted fund5 Total 2025 Notc Income and Endowments from: Donations and legacies Charitable activilies Investment income 6.089 129,468 18 6,089 129,468 18 Total income 135,575 135,575 Expenditure on: Charitable activitie5 (131.005) (5,155) {136,160) Total expenditure (131.005) (5,155) (136,160) Net incomel(expenditure} Transfers between funds 4.570 27,866 {5.155) ?7,866) (585) Net movement in funds (J3,021) (585) Reeoneiliation of funds Total funds brought fon¥ard 49,?72 33,021 82,293 Total funds carried fon¥ard 15 81,708 Unrestricted funds 81,708 Total 2024 Restrieted funds Notc Income and Endowments from: Donaiions and legacies Charitable activities Investment income 38,473 46,811 126,159 89 126,159 89 Total income 134,586 173,059 Expenditure on: Charitable activities (172.165) {5,452) (177,617) Total expenditure (179 165) (5,45?) {177,617) Net (expenditure)/income (i7,579) i3,021 (4,558) Net movement in funds (i7,579) 33,021 (4,558) Reconcilialion of funds Total funds brought fO￿ard 86.851 86,851 Total funds carried fon¥ard 15 49,972 33,021 82,293 All of the charity's activities derive from continuing operdtions during the above two periods. The funds breakdown for 2024 is Sho1￿ in note 15. The notes on pages 16 to 25 forni an integral part of these financial statements. Page 14 ## **Starburst Foundation** ## **(Registration number: ) Balance Sheet as at 28 February 2025** |||**2025**|**2024**| |---|---|---|---| ||**Note**|**£**|**£**| |**Fixed assets**|||| |Tangible assets|11|55,036|60,338| |**Current assets**|||| |Debtors|12|6,126|8,391| |Cash at bank and in hand|13|25,716|20,239| |||31,842|28,630| |**Creditors: Amounts falling due within one year**|14|(5,170)|(6,675)| |**Net current assets**||26,672|21,955| |**Net assets**||81,708|82,293| |**Funds of the charity:**|||| |**Restricted income funds**|||| |Restricted funds|||33,021| |**Unrestricted income funds**|||| |Unrestricted funds||81,708|49,272| |**Total funds**|15|81,708|82,293| The financial statements on pages 14 to 25 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by: 17/09/2025 Mr T Mc William Trustee Mr PM Woodford Trustee The notes on pages 16 to 25 form an integral part of these fmancial statements. Page 15 Starburst Foundation Notes to the Financial Statements for the Year Ended 28 February 2025 l Accounting policies Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial Statements are set out below. These policie5 have been consistently applied to all the years presente(L unle55 Othenvi5e stated. Slatement of compliance The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October ?019. the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 10?) and the ChaTities Act ?01 l. Basis of preparation Starburst Foundation meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under ihe historical cost conveniion with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. Going concern The trustees consider that there are no malerial uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertaintv that affect the canying value of assets held by the charity. Income and endowments Volllnlary income including donations, gifts, legacies and grdnts that provide core fimding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability. Donalions and legacies Donations are only included in the SOFA when the general income recognition criteria are met. Grants receivable Grants are recognised when the charity has an entitlement to the funds and an>, conditions linked to the grants have been met. Where perfonnance conditions are attached io the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as defe￿ed income to be released. Investment income This is included in the accounts when receipt is probable, and the amount receivable can be measured reliably. Expenditure Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Charilable a(Yivilies Charitable expenditure comprises those costs inCu￿ed by the charity in the delivery, of its activities and services for its benefjciaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Page 16 Starburst Foundation Notes to the Financial Statements for the Year Ended 28 February 2025 Support costs Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating propeity costs by floor areas, or per capita, stsff costs by the time spent and other costs b). their usage. Government grants Govemment grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income. Taxation 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 definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt froTn taxation in respect ol income or capital gains received within categories covered by Chapter 3 Part I l of the Corporation Tax Act ?0 l O or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gaiT]s are applied exclusively to charltable purposes. Tangible fixed assets All assets costing more than £200 are capitalised and valued at historical cost. Depreciation and amortisation Depreciation is provided on tangible fixed asseis so as io write olTthe cost or valuation. less any estimated residual value, over their expected useful economic life as folloH's: Asset class Leasehold improvements Fixture5 and fittings Depreciation melhod and rate I 00/0 straight line 25 /0 reducing balance Trade debtors Trade debtors are amounts due from customers for merchandise sold or services perfonned in the ordinary course of business. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-tenn highly liquid investments that are readily convertible to a know'n amount of cash and are subject to an insignificant risk of change in value. Trade ereditors Creditors are recognised where the charity h&$ a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Page17 Starburst Foundation Notes to the Financial Statements for the Year Ended 28 February 2025 Borrowings Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequentl). carried at amortised cost. with the difference between the proceeds. iiet of transaction costs. and the amount due on redemption being recobmlsed as a charge to the Statement of Fin￿]cIal Activities over the period of the relevani borrO￿'1ng. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. Foreign exchange Transactions in foreign Cu￿enCieS are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date. The results of overseas operations are translated at the averdge rates of exchange durtT]g the period and their balance sheets at the rates ruling at the balance sheet date. Exchange differences arising on translation of the opening net assets and results of overseas operniions are ￿ported in other comprehensive income and accumulated in equity (attributed to non-controlling interests as appropriate). Other exchange differences a￿ recognised in the Statement of Financial Activities in the period in which they arise except for: l) exchange differences on transactions entered inlo to hedge certain foreign currency risks (see above); 2) exchange differences arising on gains or losses on non-monetary items which are recognised in other comprehensive income. and 3) in the case of the consolidated financial statements, exchange differences on monetary items receivable from or payable to a foreign operation for ￿'hICh settlement is neither planned nor likely to occur (therefore fonning part of the net investment in the foreign operation). which are recognised in other comprehensive income and reported under equity. Fund strueture Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity. 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 rdised for particular restricted purposes. Financial instruments Classification Financial assets and financial liabilities are recogni5ed when the charity become5 a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equit). instrun]ent is any contract that evidence5 a residual interest in the assets of the charity after deducting all of its liabilities. Page18 Starburst Foundation Notes to the Financial Statements for the Year Ended 28 February 2025 Recognilion and measurement All financial assets and liabililies are initially measured at transaction price (including transaction costs), except for those financial assets classified as ai fair value through profit or loss, M".hich are initially 1￿CasUred at fair value (which is nornlally the transadion price excluding transaciion costs). unless the arrangement constitutes a financing transaction. If an arrangement constitules a financing transaction. the financial asset or financial liability is measured at the present value of the fuiure payments discounted at a market rate of interest for a similar debt instrument. Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognlsed amounis and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. Financial assets are derecognised when and only when a) the contractual rights to the cash flom's from the rinancial asset expire or are settled. b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset. or c) the charity. despite having retained some, but not all, significant risks and rew'ards of ownership. has transfe￿ed control of the asset to another party. Financial liabilities are derecognised only when the obligation specified in the contract 15 discharged, cancelled or expires. 2 Income from donations and legacies Unrestricted funds General Totsl 2025 Total 2024 Donations and legacies; Donations from individuals Grants, including capital grants- Government grants 6,089 6.089 39,311 7,500 6.089 6,089 46,811 Page 19 Starburst Foundation Notes to the Financial Statements for the Year Ended 28 February 2025 3 Income from charitable activities Unrestricted funds General Totsl 2025 Total 2024 Show income Academy income Ball income Services income 88,757 20,910 284 19,517 88,757 20,910 284 19,517 88,210 17,520 7,857 12,572 1 ?9,468 129,468 126,159 4 Inveslment income Unrestricted fund5 General Total 2025 Total 2024 Interest receivable and similar income; Interest receivable on bank deposits 18 89 5 Expenditure on charitable activities Unrestricted funds General Restricted lunds Totsl 2025 Total 2024 Note Direct charitable expenditure Allocated support Costs 104,237 3,118 107,355 157,078 26,768 2.037 28,805 20,539 lJl,005 5.155 136,160 177,617 Page 20 Starburst Foundation Notes to the Financial Statements for the Year Ended 28 February 2025 Unrestricted fund5 General Restricted fund5 Total 2025 Total 2024 Show expenditure Venue hire Teaching fees Ball expenditure Other direct expenses Academy expenses Promotion and advertising Light and heat for studio 76,077 76,077 104,966 11,195 170 12,255 4,210 14,585 2,121 251 9,167 170 1,811 ,279 1?.072 1,279 12,072 104,? J7 107,355 157,078 6 Analysis of support Costs Charitable activitie5 expenditure Unrestricted funds General Restricted funds Total 2025 Total 2024 Insurance Post and stationery Repairs and renewals Storage costs Subscriptions Computer costs Sundry expenses Bank charges Depreciation Accounts fee Independant examiner fee Legal fees 1,906 76 76 9.4&1 9,484 5,806 2,719 777 777 222 222 401 1.489 fv17 1,489 ()47 197 587 4.306 1.586 1.414 2,037 6,343 1,586 1,414 108 2,220 1,980 4,047 26,768 20,539 7 Iyet incomingloutgoing resources Net outgoing resources for the year include= 2025 2024 Independant examiners fee ,586 2,220 Page21 Starburst Foundation Notes to the Financial Statements for the Year Ended 28 February 2025 8 Trustees remuneration and expen5e5 One of the trustees received £1.288 in the year. and persons connected with a tnlstee received £4,780, for teaching at the Academy. No trustees have received any reimbursed expenses from the charity during the year. 9 Staff costs There were no employees during the year Therefore no employee received emoluments of more than £60,000 during the year. Page 22 Starburst Foundation Notes to the Financial Statements for the Year Ended 28 February 2025 10 Taxation The charity is a registered charity and is therefore exempt from tsxation. 1 l Tangible fixed assets Land and buildings Furniture and equipment Total Cost At l March 2024 Additions 60,015 431 1.041 60,446 1.041 At 28 February 2025 60,015 1,472 61,487 Depreciation At l March 2024 Charge for the year 108 342 108 6,343 6.001 At 28 February 20?5 6.001 450 6,451 Net book value At 28 February 2025 54,014 1,022 55,036 At 29 February 2024 60.015 323 60,338 12 Debtors 2025 2024 Trade debtors Accrued income Other debtors 8,037 ,500 6,126 8,391 13 Cash and cash equivalents 2025 2024 Cash at bank 25,716 20,239 14 Creditors: amounts falling due wiihin one year 2025 2024 Trade creditor5 Accruals 2,470 2,700 6,675 5,170 6.675 Page 2) Starburst Foundation Notes to the Financial Statements for the Year Ended 28 February 2025 15 Funds Balance at 28 February 2025 Balance at March 2024 Incoming resources Resources expended Transfers Unrestricted funds General 49.272 l i5,575 (131.005) 27.866 81,708 Restricted funds (5,155) (27,866) Total funds 135,575 (136.160) 81,708 Balance al I March 2023 Ineoming resources Resources expended Balance at 29 February 2024 Unrestricted funds General 86.851 lJ4,586 (172.165) 49,272 Restricted funds (5,45?) 33,021 Total funds 86.851 173,059 (177.617) 82,293 16 Analysis of net assets between funds Unrestricted rund5 General Total fund5 at 28 February 2025 Tangible fixed assets Current assets Current liabilities 55,036 (5.170) (5,170) Total net assets 81,708 81,708 Unrestricted fund5 General Total funds at 29 February 2024 Reslrieled funds Tanuible fixed assets Current assets Current liabilities 20,376 12,(A5 60,338 28,630 (6,675) 15,985 (6.675) Total net assets 49,272 Page 24 Starburst Foundation Notes to the Financial Statements for the Year Ended 28 February 2025 17 Analysis of net fund5 At28 February 2025 At l March 2024 Financing cash flow's Cash at bank and in hand 7.719 27,958 Net debt 7,719 27,958 At29 February 2024 At l March 2023 Financing cash floThs Cash at bank and in hand 54,098 (J4,082) 20,016 Net debt 54,098 (J4,082} 20,016 Page 25