## **Sound Vision CIO**
**Charity No. 1172980**
**Company No. CE009949**
**Trustees' Report and Unaudited Accounts**
**31 August 2023**
**Sound Vision CIO Contents**
||Pages|
|---|---|
|Trustees' Annual Report|2|
|Independent Examiner's Report|7|
|Statement of Financial Activities|8|
|Balance Sheet|9|
|Statement of Cash flows|10|
|Notes to the Accounts|11 to 18|
|Detailed Statement of Financial Activities|19 to 20|
Page 1
**Sound Vision CIO Trustees Annual Report**
The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 August 2023.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Company No. CE009949**
## **Charity No. 1172980**
## **Principal Office**
The Old Surgery St. Chads Avenue Midsomer Norton RADSTOCK BA3 2HG
## **Registered Office**
St Chad's Avenue Midsomer Norton Radstock BA3 2HG
## **Directors and Trustees**
The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:
P.J. Gibbons
M. Gorman (Resigned 30 January 2023)
A. Maw
L. Nelson
M.F. Stride C. Watt
## **Accountants**
The Waldron Partnership Ltd 30 Circus Mews Bath BA1 2PW
## **OBJECTIVES AND ACTIVITIES**
For the year 2022–23, Somer Valley Education Trust CIO used the working name 'Sound Vision'. Following a resolution of the trustees on 25th January 2024, the legal name has been changed to Sound Vision CIO.
The objects of Sound Vision CIO are for the public benefit:
To advance education in particular, but not limited to, through the provision of vocational education and training in the skills required for media broadcasting and communication; and such other charitable purposes (according to the law of England and Wales) as the charity trustees see fit from time to time.
Page 2
**Sound Vision CIO Trustees Annual Report**
Public benefit:
Launched in 2017, Sound Vision’s work spans Bath and Northeast Somerset and Greater London. Under our theme of Empowering Voices Less Heard our programmes deliver two primary outcomes:
- 1) Improved career trajectory, employability or re-engagement with education. As a result of gaining:
- Industry skills - technology, radio, music, audio, production, performance and post-production.
- Soft skills - confidence, teamwork, interpersonal.
- Transferable skills - communication (verbal and written), CV and interview, time management, problem-solving.
- 2) Improved mental health outcomes. As a result of feeling:
- Empowered - improved self-esteem and belief from a supportive environment, skills development and using radio and music as a creative outlet or therapy.
- Connection - reduced loneliness, ability to make friends using improved and new-found confidence and comms skills.
Sound Vision provides skills-based learning opportunities for young people and adults of all ages, abilities and backgrounds, including those seeking employment or skill development.
Through our network of referral organisations and educational partners, we target young people with special educational needs and disabilities (SEND) and young people who are NEET/vulnerable to becoming NEET. Our trainers are experienced with:
- Communication and interaction (e.g. autistic spectrum or speech and language difficulties)
- Cognition and learning (i.e. learning disabilities).
- Social, emotional and mental health
- Sensory and/or physical (i.e. visual, hearing or physical health difficulties).
Sound Vision have a strong legacy and focus on young people, but we also have programmes for adults, and are inclusive of the following:
- Mental Health Conditions e.g. Anxiety, Depression
- Learning difficulties e.g. Dyslexia, Dyspraxia, Attention Deficit Hyperactivity Disorder (ADHD)
- Autistic Spectrum Disorder (ASD)
- Physical disabilities and medical conditions e.g. Epilepsy, wheelchair users, hearing or visual impairment
Sound Vision empower individuals through personal development, education, creativity and communications. Working towards our vision of a society with equal opportunities for all, we provide inclusive, welcoming spaces where anyone can feel safe to learn, develop and be creative. In Empowering Voices Less Heard, we not only build the confidence and skills for participants to have a voice, but we also give them the platforms to use it through partnerships across the audio and radio industry.
## **ACHIEVEMENTS AND PERFORMANCE**
For the year ending August 2023, Sound Vision carries out its objects principally through three service lines:
1) Sound Academy: Young people and adults learn audio and radio skills in a studio environment.
2) After School Training - 26 beneficiaries - Whilst making radio or podcasts young people develop skills and express themselves in a safe and supportive environment. Trainees have the opportunity to achieve nationally recognised qualifications, and we delivered 24 from Arts Awards Trinity and NCFE. Sound Vision directly in Midsomer Norton and through our training partner Riverside Radio in Wandsworth.
Page 3
## **Sound Vision CIO Trustees Annual Report**
3) Alternative Provision - 29 beneficiaries - A meaningful learning experience for students who are not thriving in a traditional classroom environment. During our 12-week course, trainees produce audio and podcasts whilst developing confidence, collaboration and communication skills. Success is measured by improvement in attendance and engagement with mainstream education by the schools. We also monitor the impact of the intervention on wellbeing on the Warrick Edinburgh scale of mental health. Sound Vision works with Norton Hill School, Somervale School and Writhlington School who identify students, typically Years 8 - 10, who would benefit from an alternative approach to classroom learning.
Pathway to Employment - 19 beneficiaries - Customised learning using a mix of workshops, mentoring, traineeships and work placements for all ages and abilities. We focus on employability, but the programme is open to everyone looking to develop their skills. We welcome professionals looking to broaden their experience and skills, first-time job seekers, and everyone in between. We often offer opportunities for work placement for Years 10 to 13. Sound Vision works with secondary schools in the Bath & NE Somerset region and post-16 departments at Specialist Schools including Fosse-Way and Farleigh College. We also provide work placements for Bath College Students, Somerset Skills & Learning and local universities including Bath Spa and Bristol University.
Sound Music: Working with industry professionals to develop music and production skills and performance confidence, so that young people can become creators, technicians and performers.
Street to Studio - 32 beneficiaries - Early interventions for vulnerable young people aged up to 25. Our trainees spend up to 6 months working with industry professionals to develop music and production skills and performance confidence, often recording a demo, producing sound and singing. Trainees develop industry knowledge, production skills, and competence with industry-standard software and hardware. We created the course in 2020 and support our partners Youth Connect Southwest to deliver this.
Sound Support: Building resilience in the not-for-profit media sector and supporting charitable organisations by strengthening this industry sector, we also hope to provide more future pathways and opportunities for our trainees.
Local Radio Day 2022 - An annual celebration of audio and radio Local Radio Day shines a light on professionals, volunteers, radio stations and their communities. The Sound Vision marketing team have led the organisation since 2019, but this was the first year doing so under the Sound Vision name. We support this to build industry resilience and thus future pathways and opportunities for our trainees. Working with Local Radio Support and Radio.co we launched a month-long pop-up station ‘Sound Radio UK’, which featured audio from 30 stations across the UK showcasing how they served their communities. Local Radio Day had a social media reach of 1.5 million, also building brand awareness for Sound Vision and over 100 radio stations participated.
Community Media Champions Awards - 11 awards. These awards recognise those outstanding individuals who have made a special and significant contribution to community media. The awards are decided by the Community Media Association council and supported by Sound Vision.
Bath Radio Digital - Sound Vision supported a consortium of community radio broadcasters in Bath & NE Somerset in applying for a licence to run a new DAB service for the area. Local radio has considerable social value to the people and communities of this area, so we worked to ensure this impactful asset is enriched by new broadcast platforms and not threatened by the steady migration of listeners away from FM transmission.
Page 4
**Sound Vision CIO Trustees Annual Report**
## Funders
Sound Vision receives revenues from contracted services but is heavily reliant on donations and grants to ensure consistent delivery of our skills-based learning programmes. The Sound Vision trustees would like to take this opportunity to show their appreciation for the generosity of our regular donors. Regular unrestricted income allows us to respond to requests for immediate support to deliver critical services to those most in need, without undergoing grant application processes. Sound Vision remains predominately grant-funded. Achieving grants to cover core and project costs is a priority to ensure we can sustain and grow our reach and engagement. The Trustees express their immense gratitude for the funded support of the National Lottery’s Community fund, The Medlock Charitable Trust, The People’s Postcode Lottery, The Sunrise Foundation, The Foxglove Trust, The Van Neste Foundation, Somerset Community Foundation and Quarter Community Foundation.
## **FINANCIAL REVIEW**
The trustees have agreed to hold unrestricted reserves of 3 months average overhead expenditure (£18k). This will allow Sound Vision to operate for 3 months if there is a gap in funding.
## **PLANS FOR FUTURE PERIODS**
## FY24/25 Strategy for growth
Sound Vision is a small charity, with a big heart and even bigger ambitions. Demand for our training programmes outweighs our current capacity and resources. It is driven by our unique and inclusive approach to studio learning that is hitting contemporary educational and social challenges around loneliness, isolation, lack of opportunities and mental health and wellbeing. During FY24/25 we plan to expand our services to meet that need, and to reach, engage with and empower more people by:
Expanding our network of training hubs - Our ambition is to develop training services nationally. We piloted our model of establishing skills infrastructure around the training capacity of local radio stations with Somer Valley FM in Midsomer Norton and Riverside Radio in Wandsworth. Our FY24/25 strategy involves onboarding further training partners targeting areas of need in Taunton, Bristol, Glastonbury and Manchester.
Strengthening and building partnerships - Sound Vision currently work with Youth Connect Southwest, Midsomer Norton Schools Partnership, Fosse-Way School, Farleigh College Bath College, Somerset Skills & Learning and Community Media Association. We will target new working partnerships with educational multi-academy trusts to offer their students our Alternative Provision and After School Training programmes. This studio learning inside and outside of formal curriculum time empowers young people with skills and confidence and offers a platform on which to express themselves.
Page 5
Sound Vlsion ao
Trustees Annual Report
Deliver more accreditations and qualifications- Arts Awards from Trinity London align with our mission by
encouragin8 creativity and ski115 development outside of standard guided learning pathways. Currently only
offered with our After School Trainbn& we will also add this a5 an option to our Alternative Provision training
programmes. This will allow all abilities and backgrounds to access this opportunity and enhante their
employability.
Keep our trainees at the heart of everything we do- Trainees inftuence the development of our programmes
by sharin8 their experiences and feedback and in many instances through ongoing participation. After
experiencing how transformative our inteTvention5 can be, fonner beneficiaries are often keen to have a role
in drivin¥ the tharity forward and helping oihers. Current and past trainees are on our advisory board, and
one is a trustee. Sound Vision as an organisation value what it learn5 from the unique perspectives and skills
of Its participants. The future of the charity is increasingly determined by those who have benefited from it.
Central to our FY24125 Strate is our viston of a society wth equal opportunities for all. Sound Vision is
profoundly driven by compassion and t)Ufdrivenmust reach more people. We talk aboLtt empowering voices
less heard but we need to empowèr our own voice, in order to reach rbew audiences. That way, our
charitable mission tan contribLrte to true social movemenL
The Trustees are responsible for keeping proper accotsnting records that disdose with reasonable accuracy at
any time the financial position of the charity and to enable them to ensure that the financi31 statements
comply with the Companies Act 2LK)6. The Trustees are also re%w)nsible for safeguarding the a55ets of the
charity and hence taking reasonable Ste for the pVen"0Th and dete1¢fi of fraud and other IT1&ritie$.
The above report has been prepared in accordance with the provisions applicable to companies subject to
the small companie5 regime as Set out in Part 15 of the Companies Art 2CQ6 and in accordance wth the
Charities SORP IFRS 1021.
Signed on behalf of the bgard
P.J. Gtbbons
Trustee
12 June 2024,
Pa8e 6
Sound Vlslon ao
Independent Examlnws Report
Independent Examlne¢s Report to the twustees of Sovnd Vlsknn ao
I report to the charity tnjstees on my examination of the financial thtements of Sound Vision CIO for the
year ended 31 Au8USt 2023.
Respon51bllltles and basls of report
As the charity's trustees of the ¢ompany13nd also sts ItCtLY5 for the purposes of company lawl you are
responsible for the preparation of the financial ttatements in accordance with the requirements of the
Companies Art 2(K161'the 2LTr)6 Act.
Having satisfied myself that the financlal statements of the Charity a 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 chority'5 ffinancial statements as carried under secth)n 145 of the Charities Act 2011 llhe 2011 Act'l.
In carrying out my examination I have followed the Directions given by the Charity Commission under section
145151 Ibl of the 2011 Act.
Independent examiner's statement
I have completed my examination. I tan confirm that no material matters have come to my attention in
connertÈon with the examinatlon givin8 me cause to beli&we'.
accountlng Tecords were not kept trn accordan with section 386 of the 2CMJ6 Art; or
• the financial statements do not accord with those records.. or
the linancial statements do not comply with the accountin8 requirements under section 396 of the 26
Act other than any requirement that the financial statements Bive a *rue and view which is not a
matter considered as part of an independent examination,. or
the financial statements have not been prepared in a¢cordan¢e wtth the methods and principles of the
Statement of Recommended Practice for accounting and reportin8 by Charities applicable to charities
preparing their accounts in a¢¢ordance with the Financial Reporknng Standard applicable in the UK and
Republlc of Ireland IFRS 1021.
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.
Marco Andrew Martin FCCA cfA
The Waldron Partnership Ltd
30 Circus Mews
8ath
BAI 2PW
12 June 2024
Page 7
## **Sound Vision CIO Statement of Financial Activities**
## **for the year ended 31 August 2023**
|**Notes**
**Income and endowments**
**from:**
Donations and legacies
4
Charitable activities
5
Other trading activities
6
Investments
7
**Total**
**Expenditure on:**
Raising funds
8
Charitable activities
9
Other
10
**Total**
Net gains on investments
**Net income/(expenditure)**
11
Transfers between funds
**Net income/(expenditure)**
**before other gains/(losses)**
**Other gains and losses**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**2023**
**£**
55,226
7,380
350
119|**Restricted**
**funds**
**2023**
**£**
52,800
-
-
-|**Total funds**
**2023**
**£**
108,026
7,380
350
119|**Total funds**
**2022**
**£**
103,582
-
-
-|
|---|---|---|---|---|
||63,075
10,701
77,970
13,461|52,800
-
6,065
4,678|115,875
10,701
84,034
18,138|103,582
9,398
63,747
37,388|
||102,131
-|10,742
-|112,873
-|110,533
-|
||(39,056)
-|42,058
-|3,002
-|(6,951)
-|
||(39,056)|42,058|3,002|(6,951)|
||(39,056)
68,732|42,058
-|3,002
68,732|(6,951)
75,683|
||29,676|42,058|71,734|68,732|
Page 8
Sound Vlsion CIO
Balabye Sheet
at 31 August 2023
Company No. CE(¥)9949
Note5
2023
2022
Flxed assets
Tan&'ble a$5ets
13
814
1.107
1.107
814
Current 355ets
Debtors
14
3.730
72.739
76,469
15,5491
Cash at bank and In hand
73,369
73.409
15,7841
67,625
Credilors: Amount falling due within one year
Net ¢urrent assets
15
70.920
Total assets less CUTTent Ilabllltles
71,734
68,732
68,732
Net assets excludlng penslon asset or Il•blllty
71.734
Total net assets
71.734
68,732
The funds ol the charbty
Restrfcted funds
Restricted income fvnds
16
42,058
42,058
Urested funds
General funds
16
29,676
68.732
29.676
68,732
16
Total fund5
71.734
68,732
These accounts hove been prepared in accordance with the special prowsions of Part IS of the Companies
Act 2C(16 lating to small companie5.
For the year ended 31 August 2023 the company was entitled to exemption under section 477 of the
Companies Act 2W6 relating to small companie5.
The member5 h3¥e not required the company to obtsin an audtt in accovdance wth sertion 476 of the
Companies Act 2(X)6.
The dirèctors acknowledge their responsibilities for complying with the requirements of the Companies Act
2C¥J6 with respect to accounting records and the preparation of accounts.
Approved by the board on 12 lune 2024
And signed on its behalf by..
PJ. Gibbons
Trustee
12 lune 2024
Pa8e 9
**Sound Vision CIO Statement of Cash flows for the year ended 31 August 2023**
|**Cash flows from operating activities**
**Net income/(expenditure) per Statement of Financial Activities**
**Adjustments for:**
Depreciation of property, plant and equipment
Dividends, interest and rents from investments
Other gains/losses
Increase in trade and other receivables
(Decrease)/Increase in trade and other payables
**Net cash used in operating activities**
**Cash flows from investing activities**
Dividends, interest and rents from investments
**Net cash from/(used in) investing activities**
**Net cash from financing activities**
**Net decrease in cash and cash equivalents**
**Cash and cash equivalents at the beginning of the year**
**Cash and cash equivalents at the end of the year**
**Components of cash and cash equivalents**
Cash and bank balances|**2023**
**£**
3,002
293
(119)
-
(3,690)
(1,898)
(2,412)
119
119
-
(2,293)
73,369
71,076
72,739
72,739|**2022**
**£**
(6,951)
65
-
-
(40)
5,784|
|---|---|---|
|||(1,142)
-|
|||(1,172)|
||||
|||-|
||||
|||(2,314)|
|||-|
|||(2,314)|
||||
|||73,369|
||||
|||73,369|
Page 10
**Sound Vision CIO Notes to the Accounts**
## **for the year ended 31 August 2023**
- 1 **Accounting policies**
## **Basis of preparation**
The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
## **Change in basis of accounting or to previous accounts**
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
## **Fund accounting**
- Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
- Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
- Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
## **Income**
- Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
- Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
- Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
- Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
- Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 11
**Sound Vision CIO Notes to the Accounts**
## **Expenditure**
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT expenditure which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs. Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs. Other expenditure These are support costs not allocated to a particular activity.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Trade and other debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
## **Trade and other creditors**
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has 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. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## **Pension costs**
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Page 12
**Sound Vision CIO Notes to the Accounts**
## **Receipt of donated goods, facilities and services**
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
## 2 **Company status**
The company is a Charitable Incorporated Organisation.
## 3 **Statement of Financial Activities - prior year**
|**Income and endowments from:**
Donations and legacies
**Total**
**Expenditure on:**
Raising funds
Charitable activities
Other
**Total**
**Net income**
**Net income before other**
**gains/(losses)**
**Other gains and losses:**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**2022**
**£**
91,425
91,425
9,398
(318)
37,388
46,468
44,957
44,957
44,957
13,033
57,990|**Restricted**
**funds**
**2022**
**£**
12,157
12,157
-
64,065
-
64,065
(51,908)
(51,908)
(51,908)
62,650
10,742|**Total funds**
**2022**
**£**
103,582|
|---|---|---|---|
||||103,582
9,398
63,747
37,388|
||||110,533|
||||(6,951)|
||||(6,951)|
||||(6,951)
75,683|
||||68,732|
## 4 **Income from donations and legacies**
|Grants Received
Major Donors and one off
donations
Regular donations
Gift aid|**Unrestricted**
**£**
6,661
28,000
12,113
8,452
55,226|**Restricted**
**£**
52,800
-
-
-
52,800|**Total**
**2023**
**£**
59,461
28,000
12,113
8,452
108,026|**Total**
**2022**
**£**
103,582
-
-
-|
|---|---|---|---|---|
|||||103,582|
Page 13
**Sound Vision CIO**
## **Notes to the Accounts**
## 5 **Income from charitable activities**
|Alternative Provisions and
education
6
**Income from other trading activities**
Organisational development
7
**Income from investments**
Interest received
8
**Expenditure on raising funds**
Consultancy and sub
contractors
CRM costs
Card Fees|**Unrestricted**
**£**
7,380
7,380
**Unrestricted**
**£**
350
350
**Unrestricted**
**£**
119
119
**Unrestricted**
**£**
9,549
936
216
10,701|**Total**
**2023**
**£**
7,380
7,380
**Total**
**2023**
**£**
350
350
**Total**
**2023**
**£**
119
119
**Total**
**2023**
**£**
9,549
936
216
10,701|**Total**
**2022**
**£**
-|
|---|---|---|---|
||||-|
||||**Total**
**2022**
**£**
-|
||||-|
||||**Total**
**2022**
**£**
-|
||||-|
||||**Total**
**2022**
**£**
8,366
1,032
-|
||||9,398|
Page 14
**Sound Vision CIO**
## **Notes to the Accounts**
## 9 **Expenditure on charitable activities**
|**Unrestricted**
**£**
_Expenditure on charitable_
_activities_
Alternative Provisions and
education
4,800
Staff Payroll costs
66,871
Training Support Costs
2,988
Other costs
2,231
_Governance costs_
Independent examination
1,080
77,970
10 **Other expenditure**
**Unrestricted**
**£**
Staff training and
entertainment
527
Premises costs
-
Depreciation of fixed assets
293
General administrative costs
10,368
Legal and professional costs
2,273
13,461
11 **Net income/(expenditure) before**
**transfers**
This is stated after charging:
Depreciation of owned fixed assets
12 **Staff costs**
No employee received emoluments in excess of £60,000.|**Restricted**
**£**
-
4,459
1,541
65
-
6,065
**Restricted**
**£**
-
4,200
-
478
-
4,678
**2023**
**£**
293|**Total**
**2023**
**£**
4,800
71,330
4,529
2,295
1,080
84,034
**Total**
**2023**
**£**
527
4,200
293
10,845
2,273
18,138|**Total**
**2022**
**£**
-
63,747
-
-
-|
|---|---|---|---|
||||63,747|
||||**Total**
**2022**
**£**
-
2,800
65
32,051
2,472|
||||37,388|
||||**2022**
**£**
65|
Page 15
**Sound Vision CIO Notes to the Accounts**
## 13 **Tangible fixed assets**
|**Cost or revaluation**
At 1 September 2022
At 31 August 2023
**Depreciation and**
**impairment**
At 1 September 2022
Depreciation charge for the
year
At 31 August 2023
**Net book values**
At 31 August 2023
At 31 August 2022
14 **Debtors**
Prepayments and accrued income
15 **Creditors:**
amounts falling due within one year
Trade creditors
Other taxes and social security
Other creditors
Accruals|**2023**
**£**
3,730
3,730
**2023**
**£**
1,533
2,275
78
1,663
5,549|**£**
1,172
1,172
65
293
358
814
1,107|**£**
1,172|
|---|---|---|---|
||||1,172|
||||65
293|
||||358|
||||814|
||||1,107|
||||**2022**
**£**
40|
||||40|
||||**2022**
**£**
6,219
(435)
-
-|
||||5,784|
Page 16
**Sound Vision CIO Notes to the Accounts**
## 16 **Movement in funds**
|**Restricted funds:**
**Restricted income funds:**
Somerset Community
Foundation
NLG AA Somerset SEND
VNF Street to Studio
Arts Council - Studio to Stage
Sunrise Foundation - Positive
Pathways
_Total_
**Unrestricted funds:**
**General funds**
**Total funds**|**At 1**
**September**
**2022**
-
-
-
-
-
-
68,732
68,732|**Incoming**
**resources**
**(including**
**other**
**gains/losses)**
**£**
-
-
10,000
27,000
15,800
52,800
63,075
115,875|**Resources**
**expended**
**£**
(1,085)
(9,657)
-
-
-
(10,742)
(102,131)
(112,873)|**At 31**
**August**
**2023**
**£**
(1,085)
(9,657)
10,000
27,000
15,800|
|---|---|---|---|---|
|||||42,058|
|||||29,676|
|||||71,734|
Purposes and restrictions in relation to the funds:
|Restricted funds:||
|---|---|
|Somerset Community|a fund to support after schools training in Midsomer Norton area –|
|Foundation|specifically pupils with Autism.|
|NLG AA Somerset SEND|a fund to support after schools training (but Radstock area) “Sound Vision|
||Sound Academy”|
|VNF Street to Studio|a fund to support delivering Arts Awards in the Bath area with Youth|
||Connect SW|
|Arts Council - Studio to Stage|a fund to support delivering Arts Awards in the Bath area with Youth|
||Connect SW|
|Sunrise Foundation - Positive|a fund for supporting autistic young people through after schools and|
|Pathways|pathway to employment training activities.|
17 **Analysis of net assets between funds**
|**Analysis of net assets between funds**||||
|---|---|---|---|
|Fixed assets
Net current assets|**Unrestricted**
**funds**
**£**
814
18,120
18,934|**Restricted**
**funds**
**£**
-
52,800
52,800|**Total**
**£**
814
70,920|
||||71,734|
Page 17
**Sound Vision CIO Notes to the Accounts**
## 18 **Reconciliation of net debt**
|18 **Reconciliation of net debt**||||
|---|---|---|---|
|Cash and cash equivalents
Net debt|**At 1**
**September**
**2022**
**£**|**Cash flows**
**£**|**At 31**
**August**
**2023**
**£**|
||73,369|(630)|72,739|
||73,369
73,369|(630)
(630)|72,739|
||||72,739|
|||||
|19 **Related party disclosures**
**_Transactions with related parties_**
_Name of related party_
C. Watt
_Relationship_
Trustee
_Description of relationship_
_and transactions_
Mr C Watt is a Director of Somer Valley FM.
During the period training facilities at
Somer Valley FM were utilised and paid for
to deliver the programme.
_Amount paid to Somer Valley FM during the year_||**2023**
**£**
1,214|**2022**
**£**
1,635|
Page 18
**Sound Vision CIO**
**Detailed Statement of Financial Activities**
## **for the year ended 31 August 2023**
|**Income and endowments from:**
Donations and legacies
Grants Received
Major Donors and one off
donations
Regular donations
Gift aid
Charitable activities
Alternative Provisions and
education
Other trading activities
Organisational development
Investments
Interest received
**Total income and endowments**
**Expenditure on:**
Costs of generating donations and
legacies
Consultancy and sub contractors
CRM costs
Card Fees
**Total of expenditure on raising**
**funds**
Charitable activities
Alternative Provisions and
education
Staff Payroll costs
Training Support Costs
Other costs
Governance costs
Independent examination|**Unrestricted**
**funds**
**2023**
**£**
6,661
28,000
12,113
8,452
55,226
7,380
7,380
350
350
119
119
63,075
9,549
936
216
10,701
10,701
4,800
66,871
2,988
2,231
76,890
1,080
1,080|**Restricted**
**funds**
**2023**
**£**
52,800
-
-
-
52,800
-
-
-
-
-
-
52,800
-
-
-
-
-
-
4,459
1,541
65
6,065
-
-|**Total funds**
**2023**
**£**
59,461
28,000
12,113
8,452
108,026
7,380
7,380
350
350
119
119
115,875
9,549
936
216
10,701
10,701
4,800
71,330
4,529
2,295
82,954
1,080
1,080|**Total funds**
**2022**
**£**
103,582
-
-
-|
|---|---|---|---|---|
|||||103,582|
|||||-|
|||||-|
|||||-|
|||||-|
|||||-|
|||||-|
|||||103,582
8,366
1,032
-|
|||||9,398|
|||||9,398
-
63,747
-
-|
|||||63,747|
|||||-|
|||||-|
Page 19
## **Sound Vision CIO**
## **Detailed Statement of Financial Activities**
|**Total of expenditure on charitable**
**activities**
Employee costs
Staff entertainment
Staff training
Premises costs
Rent
General administrative costs,
including depreciation and
amortisation
Depreciation of
General insurances
Advertising and marketing
Postage and couriers
Software, IT support and related
costs
Stationery and printing
Subscriptions
Sundry expenses
Telephone, fax and broadband
Legal and professional costs
Accountancy and bookkeeping
**Total of expenditure of other costs**
**Total expenditure**
Net gains on investments
**Net income/(expenditure)**
**Net income/(expenditure) before**
**other gains/(losses)**
Other Gains
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|77,970
428
99
527
-
-
293
0
8,645
7
1,170
-
-
466
79
10,661
2,273
2,273
13,461
102,131
-
(39,056)
(39,056)
-
(39,056)
68,732
29,676|6,065
-
-
-
4,200
4,200
-
262
-
-
-
-
135
-
81
478
-
-
4,678
10,742
-
42,058
42,058
-
42,058
-
42,058|84,034
428
99
527
4,200
4,200
293
262
8,645
7
1,170
-
135
466
160
11,138
2,273
2,273
18,138
112,873
-
3,002
3,002
-
3,002
68,732
71,734|63,747
-
-|
|---|---|---|---|---|
|||||-|
|||||2,800|
|||||2,800|
|||||65
201
3,174
-
13,997
73
-
14,458
148|
|||||32,116|
|||||2,472|
|||||2,472|
||||||
|||||37,388|
|||||110,533
-|
|||||(6,951)|
|||||(6,951)
-|
|||||(6,951)|
|||||75,683|
|||||68,732|
Page 20