2024-04-06-accounts - Bedazzle

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Registered Charity No: 1166683

Bedazzle (CIO)

Trustees’ Report and Financial Statements

6 April 2024

Bedazzle (CIO) 6 April 2024

Contents	Pages
Trustees’ Annual Report	1 - 4
Independent Examiner’s Report	5
Statement of Financial Activities	6
Balance Sheet	7
Notes to the Accounts	8 - 11

Bedazzle (CIO)

Trustees’ Annual Report for the year ended 6 April 2024

The Trustees present their report and accounts for the year ended 6 April 2024.

Reference and Administrative Information

Bedazzle was constituted as a Charitable Incorporated Organisation on 22 April 2016. Charity Commission number 1166683.

The main address for contact is:-

8 Larksfield Mews Brierley Hill West Midlands DY5 2HH

The Trustees at 6 April 2024 were:-

B T Cole J Evans – resigned 19 January 2024 B Sokolowski L Shriane

B T Cole was the Chair of the Charity.

Structure, Governance and Management

The initial Trustees are entitled to hold office for life and further Trustees are appointed by resolution of the Trustees provided they sign a Declaration of Willingness to act as a Trustee and a statement that he or she will adhere to the faith for the time being promoted by the Charity.

Trustees must be appointed by a resolution passed at a properly convened meeting of the Charity Trustees. In selecting individuals for appointment as Charity Trustees, the Charity Trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.

Objectives and Activities

The objects of the Charity are:-

(i) To help young people, especially but not exclusively through leisure time activities, so as to develop their capabilities that they may grow to full maturity as individuals and members of society.
(ii) To advance the education of young people in the subject of personal, social and health education.
(iii) To promote social inclusion for the public benefit by preventing young people from becoming socially excluded, relieving the needs of those people who are socially excluded and assisting them to integrate into society.

Whilst undertaking the above mentioned activities the Trustees had due regard to guidance published by the Charity Commission on public benefit issues.

Bedazzle (CIO)

Trustees’ Annual Report for the year ended 6 April 2024 (Continued)

Introduction

Last year, despite experiencing our most impactful year financially and in terms of engagement, the end of Covid recovery funding, combined with soaring energy bills and increased salaries and pension contributions for teachers, plunged school budgets into deficit. This forced even our most loyal schools to review their service level agreements, ultimately affecting the charity’s income and leaving us in a position of uncertainty as we entered this new financial year.

Priory House

However, the tides have turned, thanks largely to the unwavering support of parents, members of our wonderful youth theatre, and the schools we collaborate with. This support has enabled us to engage in strategic planning for the next 12 months, take a leap of faith with the exciting opportunity taking on a lease at Priory House, Dudley, our own hub to develop our community programs and training offers and renew our mission for Bedazzle. This leap has also strengthened our organisational structure. In April, we welcomed a new Board of Trustees who have taken over the governance of the Charity. This transition has enabled us to implement a separate management structure to oversee the growing operations of the Charity, including Priory House. Our ambassadors and supporters have grown substantially, allowing us to expand our reach and support more beneficiaries each year.

Highlights

Work has continued with Telford Primary North Cluster - continuing to support schools with strategies to improve behaviour and attendance, including direct work with young peoples and families as well as staff coaching.

We have continued to enjoy our ongoing relationships with Milking Bank Primary, Northfield Road Primary and Donnington Wood Juniors and are proud of the way they continue to prioritise a culture that is conducive to wellbeing for both staff and pupils!

As well as delivering the range of MHFA England courses to various organisations, including Coventry College and Wolverhampton Cultural Education Partnership, we have also seen an increased demand for our Introduction to DBT Skills Training and training on Restorative Conversations. We look forward to increasing our training offer in our new dedicated training room. September 2023 saw our wonderful Youth Theatre perform another hard hitting piece of theatre - “Rent”, telling the story of a group of homeless artists living in New York amidst the Aids crisis.

Our young people then went into overdrive on a fund raising mission to ensure the group could continue amidst funding cuts from the Arts Council for the Music Education Hubs. Over the course of the autumn term they delivered at the “Big Bang Benefit Night” a night of entertainment culminating in a fantastic firework display. A few weeks later and they were back in the room for a Christmas and New Year gathering - “The Glitz and Glam”

The hard work and support from parents meant we were able to give another great opportunity - performing the Teen Edition of “Six The Musical”, transforming the Wolverhampton Music school in April this year. Plans for the 25th Anniversary at Wolverhampton’s Grand Theatre in September 2024 are now well underway and we are filled with excitement about what the future holds for us at Priory House!

Bedazzle (CIO)

Trustees’ Annual Report for the year ended 6 April 2024 (Continued)

Financial Review

The Charity receives donations which are then utilised in achieving the objects of the Charity.

During the year ended 6 April 2024 the Charity received donations and income amounting to £52,669 (2023 - £74,285), £55,911 (2023 - £73,590) was spent in pursuit of the Charity’s objectives. At 6 April 2024 £4,008 (2023 - £4,937) was held in Unrestricted Funds and £0 (2023 - £2,313) held in Restricted Funds.

Reserves Policy

The Trustees consider that the funds within the Charity should be at a level to cover operational costs for at least 5 months.

The reserves are needed to bridge the funding gap between spending on the Charity’s overheads and the receipt of new funds.

The reserves include cash at bank. The Trustees monitor the cash levels on a regular basis.

Bedazzle (CIO)

Trustees’ Annual Report for the year ended 6 April 2024 (Continued)

Trustees’ Responsibilities

The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to Charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that year. In preparing these financial statements the Trustees are required to:-

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP 2019 (FRS 102);
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time, the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity Accounts and Reports Regulations 2008 and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the Charity 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 Charity and financial information included on the Charity’s website.

Approved by the Trustees on 3 February 2025 and signed by:

.…………………………..

B T Cole

Independent Examiner’s Report to the Trustees of Bedazzle (CIO)

I report on the accounts of Bedazzle (CIO) for the year ended 6 April 2024 which are set out on pages 7 to 12.

Responsibilities and basis of report

As the Charity’s Trustees 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 charity’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 charity 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 matters in connection with the examination to which attention should be drawn in this report to enable a proper understanding of the accounts to be reached.

Mr P J Arch Chartered Accountant

Brook House Moss Grove Kingswinford West Midlands DY6 9HS

3 February 2025

Bedazzle (CIO) 6

Statement of Financial Activities For the year ended 6 April 2024

		Restricted	Unrestricted	Total	Total
		Funds	Funds	Funds	Funds
	Notes	2024	2024	2024	2023
		£	£	£	£
Incoming Resources
Voluntary income
Donations		-	2,876	2,876	2,220
Grants		-	-	-	-
Receipts from fund raising activities	2	8,000	39,784	47,784	70,700
Rental income		-	1,997	1,997	1,353
Interest received		-	12	12	12
		_____	______	______	_____
Total incoming Resources		8,000	44,669	52,669	74,285
		=====	======	======	=====
Resources Expended
Expenses for fund raising activities
Rent		-	7,995	7,995	3,260
Activity costs		10,313	10,103	20,416	26,318
Charitable Expenditure
Printing, postage and stationery		-	1,154	1,154	2,115
Computer		-	-	-	-
Travelling and hotels		-	3,150	3,150	2,688
Depreciation		-	364	364	349
Governance Costs
Wages		-	18,158	18,158	34,104
Bank charges		-	-	-	6
Accountancy		-	3,000	3,000	1,200
Sundry costs		-	1,674	1,674	1,944
Training		-	-	-	1,606
		______	______	______	_____
Total Resources Expended		10,313	45,598	55,911	73,590
		=====	=====	=====	=====
Net movements in funds for the year		(2,313)	(929)	(3,242)	695
Total funds brought forward		2,313	4,937	7,250	6,555
		______	______	______	_____
Total funds carried forward		-	4,008	4,008	7,250
		======	======	======	=====

The notes on pages 9 to 12 form an integral part of these financial statements

Bedazzle (CIO)

Balance Sheet - 6 April 2024

		2024	2024		2023
	Notes	£	£	£		£
Fixed Assets
Tangible fixed assets	6		1,849			1,048
Current Assets
Debtors	7	187		5,506	5,506
Cash at bank and in hand		5,501		4,425	4,425
		______		______	______
		5,688		9,931	9,931
Liabilities: (amounts falling
due within one year)	8	3,529		3,729	3,729
		______		______	______
Net current assets			2,159			6,202
			______			_____
Net Assets			4,008			7,250
			======			=====
Funds of the Charity:
Unrestricted Funds	9		4,008			4,937
Restricted Funds	10		-			2,313
			______			_____
Total Funds			4,008			7,250
			======			=====

The financial statements on pages 7 to 12 were approved by the Trustees on 3 February 2025 and signed on their behalf by:

………………………………….

B T Cole

The notes on pages 9 to 12 form an integral part of these financial statements

Bedazzle (CIO)

Notes to the Accounts - 6 April 2024

1 Accounting Policies

(a) The accounts have been prepared under the historical cost convention in accordance with applicable accounting standards and follow the recommendations in Statement of Recommended Practice ‘Accounting and Reporting by Charities’ (SORP 2019 (FRS 102)) and comply with these Charities (Accounts and Reports) Regulation 2005 issued under the Charities Act 2011.
(b) Voluntary income received by way of donations and gifts to the Charity is included in full in the Statement of Financial Activities when received.
(c) Intangible income is valued and included in income to the extent that it represents goods or services which would otherwise be purchased. Where it is not possible to value the goods or services, such as volunteer time, the accounts do not include this value.
(d) Investment income is accounted for in the year in which it is received.
(e) Expenditure is accounted for on a payment basis.
(f) Unrestricted Funds are donations and other incoming resources received or generated for the objects of the Charity without further specified purposes and are available as General Funds.
(g) Restricted Funds are to be used for specified purposes as laid down by the donor. Expenditure which meets these criteria is identified to the Fund.
(h) As a Registered Charity, no liability to taxation arises.
(i) Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Equipment - 25% reducing balance

2 Activities for Generating Funds

Activities for Generating Funds
	2024	2023
	£	£
Workshops	32,894	39,880
Musical and theatre events	14,890	30,820
	______	______
	47,784	70,700
	======	=====
Resources Expended
	2024	2023
	£	£
Resources expended are stated after charging:
Independent Examiner’s fee	3,000	1,200
Depreciation	364	349
	=====	====

3 Resources Expended

Bedazzle (CIO)

Notes to the Accounts - 6 April 2024

4 Trustees

None of the Trustees were reimbursed for expenses throughout the current year.

5	Salaries
		2024	2023
		£	£
	This is analysed as follows:
	Salaries and wages	16,875	32,335
	Social security costs	1,283	1,769
	Pension costs	-	-
		______	______
		18,158	34,104
		======	======
	Number of employees earning in excess
	of £60,000	-	-
		======	======
	Average number of employees	1	1
		======	======
	Trustees remuneration for specialist skills
	carried out on behalf of the Trust, including
	Employers NIC	18,158	34,104
		======	======
6	Fixed Assets
		2024	2023
		£	£
	Cost
	At 7 April 2023	2,283	2,283
	Additions	1,165	-
	Disposals	-	-
		______	______
	As at 6 April 2024	3,448	2,283
		======	======
	Depreciation
	At 7 April 2023	1,235	886
	Charge for the year	364	349
	Eliminated on disposal	-	-
		______	______
	At 7 April 2024	1,599	1,235
		======	======
	Net Book Value
	At 7 April 2024	1,849	1,048
		======	======
	At 7 April 2023	1,048	1,397
		======	======

Bedazzle (CIO)

Notes to the Accounts - 6 April 2024

7	Debtors
					2024	2023
					£	£
	Trade debtors				150	5,470
	Other debtors				37	36
					______	______
					187	5,506
					======	======
8	Liabilities (amounts falling due
	within one year)
					2024	2023
					£	£
	Taxation and social security costs				319	2,029
	Wages and salaries control				210	-
	Trustee loan				-	500
	Accruals and deferred income				3,000	1,200
					______	______
					3,529	3,729
					======	======
9	Analysis of Net Assets between	Funds
					2024	2023
		Restricted		Unrestricted	Total	Total
		Funds		Funds	Funds	Funds
		£		£	£	£
	Tangible fixed assets		-	1,849	1,849	1,048
	Debtors		-	187	187	5,506
	Cash at bank and in hand		-	5,501	5,501	4,425
	Current liabilities		-	(3,529)	(4,029)	(3,729)
		______		______	______	______
	Total assets		-	4,008	4,008	7,250
		======		======	======	======
10	Statement of Funds
		At 7	April			At 6 April
		2023		Income	Expenditure	2024
		£		£	£	£
	Unrestricted Funds	4,937		44,669	(45,598)	4,008
	Restricted Funds
	Wolverhampton Music Education
	Hub	2,313		8,000	(10,313)	-
		_____		_____	______	______
	Total funds	7,250		52,669	(55,911)	4,008
		=====		=====	======	=====

Bedazzle (CIO)

Notes to the Accounts - 6 April 2024

11 Control

The Charity was under the control of the Trustees throughout the current year.