Charity Registration No. 1170093
CREATIVE CONSCIENCE
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2021
CREATIVE CONSCIENCE
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Nicole Yershon Raoul Raja Shah (Appointed 1 November 2020) Tom Savigar (Appointed 1 October 2021) Professor Lawerence Zeegen (Appointed 1 October 2021) Maneeze Chowdhury (Appointed 1 October 2021)
Charity number
1170093
Registered office
12a Arundel Square Islington London N7 8AT
Independent examiner
Andrew Rich HW Fisher LLP Acre House 11-15 William Road London NW1 3ER United Kingdom
CREATIVE CONSCIENCE
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 11 |
CREATIVE CONSCIENCE
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MAY 2021
The trustees present their report and financial statements for the year ended 31 May 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".
Objectives and activities
The objects of the CIO are:
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For the public benefit to advance the education of young people studying, and people who have studied, in the Creative disciplines (including, but not limited to, Advertising, Architecture, Fashion g. Textile Design, Film 8 Photography, Graphic Design, Illustration and Animation, and Product & Structural Design), developing their creative talents and moral capabilities.
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To promote for the benefit of the public the conservation and protection of the environment and to advance the education of the public in conservation of the environment through helping the implementation of projects in that area.
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To promote sustainable development for the benefit of the public by the preservation, conservation and the protection of the environment and the prudent use of resources and to advance the education of the public in subjects relating to sustainable development and the protection, enhancement and rehabilitation of the environment through helping the implementation of projects in that area.
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To promote human rights (as set out in the Universal Declaration of Human Rights and subsequent United Nations conventions and declarations) throughout the world by helping the implementation of projects.
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To promote equality and diversity for the benefit of the public through helping the implementation of projects in those areas.
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To promote social inclusion for the public benefit by preventing people from becoming socially excluded, relieving the needs of those people who are socially excluded and assisting them to integrate into society through helping the implementation of projects in that area.
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To promote physical and mental health and well-being through helping the implementation of projects in that area.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
Creative Conscience held its 2021 global awards empowering more than 1000+ young creative thinkers from more than 85 nationalities to design and build for social and environmental impact. We built a successful crowd funder campaign to raise funds for a physical award to help build future income. We ran a successful three day on-line Creative Change Makers conference during lock-down. Topics included Equality, Diversity, Mental Health, Climate Crisis, Social Justice, Health care and more. Guest speakers included Sir Jonathon Porritt and Sir Tim Smit plus creativity industry experts. 91% of the surveyed audience committed to take action to make positive behaviour change for the environment.
We successfully launched a pilot on-line Summer School for creative social and environmental studies. After this another programme for graduates and professionals to kick start a social enterprise this was a Creative Impact course. We ran dozens of educational talks and workshops on design and creative thinking for a better world. Website visitors increased by 75% wrote, numerous creative educational blogs and increase our engagement across all our social media platforms to approx 18 ,000 followers .
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CREATIVE CONSCIENCE
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2021
Financial review
Total income for year ended 31 May 2021 was £ 61,403 (2020: £52,302). After expenditure of £ 57,286 (2020: £40,973) the net income for the year was £ 4,117 (2020: £11,3 29 ).
Trustees regularly review our spending plans, to make sure we are making the best of our resources. We ended the financial year with a healthy balance sheet. Nonetheless, trustees will continue to maintain a focus on increasing our income and containing our costs.
Reserves Policy
Trustees reviewed our reserves policy. Current policy is to maintain a reserve of not less than three months' running costs. This is being achieved, our current general reserves stand at £ 44,518 (2020: £40,401).
Risk assessment
Trustees consider that all risks including financial and operational, are being well managed and present a low risk overall. Trustees are satisfied that risk management in use is proportionate and sufficient.
The Trustees believe that COVID 19 has had limited impact on the activities of the charity as it has reached more people due to COVID 19 as we move our education on-line. The trustees are of the opinion that there is no immediate financial risk to th charity and it will remain a going concern for the forseable future.
Structure, governance and management
The trustees meet on a regular basis to make decisions and monitor the work of the charity. The board of trustees is authorised to appoint new trustees to fill new vacancies arising through the resignation or death of an existing trustee.
The trustees who served during the year and up to the date of signature of the financial statements were:
Nicole Yershon Raoul Raja Shah (Appointed 1 November 2020) Tom Savigar (Appointed 1 October 2021) Professor Lawerence Zeegen (Appointed 1 October 2021) Maneeze Chowdhury (Appointed 1 October 2021)
Governing Document
Creative Conscience operates under a Constitution dated 8 November 2016. Creative Conscience is a Charitable Incorporated Organisation.
Future Plans
Future plans are to continue to grow the International Awards Scheme, engage more and more educators, brands, business and young people on the power of creative thinking for positive social and environmental impact. Continue leading and empowering positive change within educational institutions by delivering lectures, talks and workshops and to grow our community and celebrate our 10 year anniversary.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The trustees' r eport was approved by the Board of Trustees.
Nicole Yershon .............................. Nicole Yershon Trustee 25 Mar 2022 Dated: .........................
Raoul Shah
.............................. Raoul Raja Shah Trustee 25 Mar 2022 Dated:.........................
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CREATIVE CONSCIENCE
STATEMENT OF TRUSTEES' RESPONSIBILITIES
FOR THE YEAR ENDED 31 MAY 2021
The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and 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:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping sufficient 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.
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CREATIVE CONSCIENCE
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF CREATIVE CONSCIENCE
I report to the trustees on my examination of the financial statements of Creative Conscience (the charity) for the year ended 31 May 2021.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Andrew Rich
Andrew Rich
HW Fisher LLP
Acre House 11-15 William Road
London NW1 3ER United Kingdom
25 Mar 2022
Dated: .........................
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CREATIVE CONSCIENCE
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MAY 2021
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2021 | 2021 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 3 | 10,000 | 10,194 |
| Charitable activities | 4 | 45,578 | 42,108 |
| Other trading activities | 5 | 5,825 | - |
| Total income | 61,403 | 52,302 | |
| Expenditure on: | |||
| Raising funds | 6 | 1,344 | 46 |
| Charitable activities | 7 | 55,942 | 40,927 |
| Total resources expended | 57,286 | 40,973 | |
| Net income for the year/ | |||
| Net movement in funds | 4,117 | 11,329 | |
| Fund balances at 1 June 2020 | 40,401 | 29,072 | |
| Fund balances at 31 May 2021 | 44,518 | 40,401 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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CREATIVE CONSCIENCE
BALANCE SHEET
AS AT 31 MAY 2021
| 2021 Notes £ Current assets Debtors 11 19,723 Cash at bank and in hand 30,873 50,596 Creditors: amounts falling due within one year 12 (6,078) Net current assets Income funds Unrestricted funds The financial statements were approved by the Trustees on ......................... .............................. .............................. Nicole Yershon Raoul Raja Shah Trustee Trustee 25 Mar 2022 Raoul Shah Nicole Yershon |
£ 44,518 44,518 44,518 |
2021 £ 6,795 34,784 41,579 (1,178) |
£ 40,401 40,401 40,401 |
|---|---|---|---|
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CREATIVE CONSCIENCE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2021
1 Accounting policies
Charity information
Creative Conscience is a charity with registration number 1170093 and registered office at 12a Arundel Square, Islington, London, N7 8AT.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
1.5 Expenditure
Liabilities are recognised as expenditure once there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis. All expenses, including support costs and governance costs, are allocated to the charitable activity in the statement of financial activities. Costs of raising funds are those costs incurred in relation to charity's on going projects towards films and musical programmes.
Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice.
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CREATIVE CONSCIENCE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2021
1 Accounting policies
(Continued)
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand and deposits held at call with banks.
1.7 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity 's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2021 | 2021 | |
| £ | £ | |
| Donations and gifts | 10,000 | 10,194 |
4 Charitable activities
| Award entrance fees Lectures, Workshops and Events Membership fees |
2021 £ 26,572 18,660 346 45,578 |
2021 £ 16,524 25,584 - |
|---|---|---|
| 42,108 |
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CREATIVE CONSCIENCE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2021
| 5 6 7 |
Other trading activities Unrestricted Unrestricted funds funds 2021 2021 £ £ Fundraising events 5,825 - Raising funds Unrestricted Unrestricted funds funds 2021 2021 £ £ Fundraising and publicity Other fundraising costs 1,344 46 1,344 46 Charitable activities 2021 2021 £ £ Freelance Design Fees 39,339 27,947 Coaching, Training, Lecture Events 6,334 4,001 45,673 31,948 Share of support costs (see note 8) 8,177 8,479 Share of governance costs (see note 8) 2,092 500 55,942 40,927 |
Other trading activities Unrestricted Unrestricted funds funds 2021 2021 £ £ Fundraising events 5,825 - Raising funds Unrestricted Unrestricted funds funds 2021 2021 £ £ Fundraising and publicity Other fundraising costs 1,344 46 1,344 46 Charitable activities 2021 2021 £ £ Freelance Design Fees 39,339 27,947 Coaching, Training, Lecture Events 6,334 4,001 45,673 31,948 Share of support costs (see note 8) 8,177 8,479 Share of governance costs (see note 8) 2,092 500 55,942 40,927 |
|---|---|---|
| 46 | ||
| 2021 £ 27,947 4,001 |
||
| 31,948 8,479 500 |
||
| 40,927 |
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CREATIVE CONSCIENCE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2021
8 Support costs
| Support costs Governance costs £ £ Travel, Accommodation and Subsistence cost 494 - Printing, Postage and Stationery cost 194 - Advertising and Promotional costs 3,882 - General Administrative Cost 742 - Computer and Website costs 700 - Bank Charges 65 - Other Professional fees 2,100 900 Accountancy - 1,192 8,177 2,092 Analysed between Charitable activities 8,177 2,092 |
2021 Support costs Governance costs £ £ £ 494 6,511 - 194 300 - 3,882 620 - 742 379 - 700 574 - 65 95 - 3,000 - - 1,192 - 500 10,269 8,479 500 10,269 8,479 500 |
2021 £ 6,511 300 620 379 574 95 - 500 |
|---|---|---|
| 8,979 | ||
| 8,979 |
Governance costs include payments to the independent examiner of £ 1,200 (2020: £500) for independent examinations fees and £900 for assistance regarding the preperation of accounts.
9 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
10 Employees
There were no employees during the current or prior year.
11 Debtors
| Amounts falling due within one year: Other debtors Creditors: amounts falling due within one year Other creditors Accruals and deferred income |
2021 £ 19,723 2021 £ 1,878 4,200 6,078 |
2021 £ 6,795 |
|---|---|---|
| 2021 £ 678 500 |
||
| 1,178 |
12 Creditors: amounts falling due within one year
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CREATIVE CONSCIENCE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2021
13 Related party transactions
There were no disclosable related party transactions during the year.
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