Sound Wision CIO Charity No. 1172980 Company No. CE009949 Trustees, Report and Unaudited Accounts 31 August 2024 Sound Vision CIO Contents Pages Trustees, Annual Report Independent Examiner's Report Statement of Financial Activities Balance Sheet Statement of Cash flows Notes to the Account5 IOto17 Detailed Statement of Financial Activities 18to19 Paop 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 2024. 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 Dirertors and Trustees The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees senled during the year: P.J. Gibbons A. Maw L. Nelson {Resigned 31 August 2024) M.F. Stride C. Watt Accountants The Waldron Partnership Ltd 30 Circus Mews Bath BAI 2PW OBJECTIVES AND ACTIVITIES During the year 2023-24, the Somer Valley Education Trust CIO changed the legal name of the charity to Sound Vision CIO. This followed a resolution of the trustees on 25th January 2024. P?LYQ ? Sound Vision CIO Trustees Annual Report 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. Public benefit.. Launched in 2017, Sound Vision's work spans Bath and Northeast Somerset and Wandsworth in Southwest London. Our programme5 deliver two primary outcomes: 11 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. 50ft 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 th05e seeking employment or skill development. Through our network of referral organi5ations 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 li.e. learning disabilities). Social, emotional and mental health Sensory and/or physical li.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 Hyperactlvity Disorder IADHDI Autistic Spectrum Disorder IASD) 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. Sound Vision CIO Trustees Annual Report ACHIEVEMENTS AND PERFORMANCE For the year ending August 2024, Sound Vision carried out its objects principally through two service lines.. l. Sound Academy". Young people and adults have to opportunity to develop audio, radio, communications and media skills in a studio environment. a. After School Training- Aimed at school age students coming in after school. Whilst making radio or podcasts they develop skills and express themselves in a safe and supportive environment. Trainees can achieve nationally recognised qualifications, and we delivered 24 certiftcates from Arts Awards Trinity and NCFE across our Midsomer Norton and Battersea based programmes.131 beneficiaries} b. Alternative Provision - A meaningful learning experience for students who are not thriving in a traditional classroom environment. The provision takes place within school time and our partnering schools select the students. During the 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. {36 beneficiaries) c. Pathway to Employment- 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. This year we offer to weeklong placements for Years 10 to 13 in January and July 2024. 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 includi ng Bath Spa and Bristol University. {28 beneficiaries) 2. 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. a. Street to Studio - 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. This year we supported the Arts Award qualifications. (4 certificates awarded) b. Studio to Stage-This strand of activity was new to Sound Vision this year. Having achieved Arts Council England funding to support this course we worked with young people of all abilities and backgrounds who wanted to develop their performing confidence and knowledge of the music industry. The course culminated in a live performance in front of an audience at Komedia, Bath in June 2024. {25 beneficiaries) Sound Vision CIO Trustees Annual Report The year in statistics.. 134 direct beneficiaries1106 in 20231 84164%) have identified additional needs (SEND) 63 {47%13ttend the Sound Vision Training facilities in Midsomer Norton. The rest attend outreach projects in Bath, Wandsworth and Taunton. 39 qualifications awarded133 Bronze Arts Awards + 6 ACIA'a Level l} 17 on the core team supporting Sound Vision (12 volunteers, I full-time and 4 part-time staffl. 65% of the core team have come up through our training programmes. - 6 collaborative partnerships (Youth Connect Southwest, Riverside Radio, Midsomer Norton Schools Partnership, Fosse-way School. Newbury Manor school. Tone FM.) 6 training strands supported {Alternative Provision, After School, Pathway to Employment, Street to Studio, Studio to Stage) Funders Sound Vision receives revenues from contracted services butis heavily relianton donations and grants to ensure consistent delivery of our skills-based learning prograrnmes. 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 inneed,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 Arts Council England, The Medlock Charitable Trust, The Sunrise Foundation, The Van Ne5te Foundation, Somerset Community Foundation and Quarter Community Foundation. FINANCIAL REVIEW The trustees have agreed to hold unrestricted reserves of 3 months average expenditure (£20kl. This will allow Sound Vision to operate for 3 months if there is a gap in funding. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 1021. Signed on behalf of the board P.J. Gibbons Trustee 17 June 2025 Paoa Sound Vision CIO Independent Examiners Report Independent Examiner's Report to the trustees of Sound Vision CIO I report to the charity trustees on my examination of the financial statements of Sound Vision CIO for the year ended 31 August 2024. Responsibilities and basis of report As the charity's trustees of the companv land also its directors for the purposes of company lawl you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 {'the 2006 Act. Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statement5 a5 carried out under section 145 of the Charities Act 2011 ('the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(51 Ib) of the 2011 Act. Independent examiner's ststement I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe: accounting records were not kept in accordance with section 386 of the 2006 Act . or the financial statements do not accord with those records; or the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair, view which is not a matter considered as part of an independent examination; or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 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 CTA The Waldron Partnership Ltd 30 Circus Mews Bath BAI 2PW 17 June 2025 Sound Vision CIO Statement of Financial Activities for the year ended 31 August 2024 Unrestricted funds Restricted funds Total funds Total funds 2024 2024 2023 2024 Notes Income and endowments from: Donations and legacies Charitable activities Other trading activities Investments 49,133 11,985 1,500 164 15,OlXI 64,133 11,985 1,500 164 108,026 7,380 350 119 Total 62,782 15,000 77,782 115,875 Expenditure on: Raising funds Charitable activities Other 11,854 35.776 7,256 11,854 98,584 12,248 10,701 84,034 18,138 62,808 4,992 io Total 54,886 67,800 122,686 112,873 Net gains on investments Net (expenditure}lincome Transfers between funds li 7.896 (52,800} 144,9041 3,002 Net (expenditure}/income before other gains/(10sses) 7,896 {52,8tK)I 144.904} 3,002 Other gains and losses Net movement in funds 7,896 (52,8001 144,904) 3,002 Reconciliation of funds: Total funds brought forward 18,934 52,800 71,734 68,732 Total funds carried forward 26,830 26,830 71,734 PJLTO 7 Sound Vision CIO Balance Sheet at 31 August 2024 Company No. CE009949 Notes 2024 2023 Fixed assets Tangible assets 13 521 814 521 814 Current assets Debtors Cash at bank and in hand 14 5,316 25,095 30,411 (4,102) 26,309 3,730 72,739 76,469 {5,549) Creditors: Amount falling due within one year Net current assets 15 70,920 Total assets less current Ilabllltles 26,830 71,734 Net assets excluding pension asset or liability 26,830 71,734 Total net assets 26,830 71,734 The funds of the charlty Restricted funds Restricted income funds 16 52,800 52,800 Unrestricted funds General funds 16 26,830 18,934 26,830 18,934 Reserves 16 Total funds 26,830 71,734 These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. For the year ended 31 August 2014lthe company was entitled to exemption under section 477 of the Companies Art 2006 relating tO-smaElcompanies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. Approved by the board on 17 June 2025 And signed on its be If by: P.J. Gibbons Trustee 17 June 2025 Sound Vision CIO Statement of Cash flows for the year ended 31 August 2024 2024 2023 Cash flows from operatlng artivities Net {expenditure)/income per Statement of Financial Activitie5 (44,904) 3,002 Adjustments for: Depreciation of property, plant and equipment Dividends, interest and rents from investments Other gains/losses Increase in trade and other receivables Decrease in trade and other payables 293 (164) 293 (119) {1,586) (1,4471 13,690) {1,8981 Net cash used in operating activities (47,808} (2.4121 Cash flows from investing activities Dividends, interest and rents from investments 164 119 Net cash from investing activities 164 119 Net cash from financing artivities Net decrease in cash and cash equivalents (47,644) 12,293} Cash and cash equivalents at the beginning of the year 72,739 73,369 Cash and cash equivalents at the end of the year 25,095 71,076 Components of cash and cash equivalents Cash and bank balances 25,095 72,739 25,095 72,739 Sound Vision CIO Notes to the Accounts for the year ended 31 August 2024 l Accounting policies Basis of preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities: 5t3tement of Recommended Prattice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l 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 year5. Fund accounting Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. These are unrestricted funds earmarked by the trustees for particular purposes. These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. These are available for use subjett to restrictions imposed by the donor or through terms of an appeal. Designated funds Revaluation funds Restricted funds Income Recognition of income Income is included in the Statement of Financial Activities (SOFA) when the charity 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 legacies Voluntary income received by way of grants, donations and gifts is included in the 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/llosses} on This includes any gain or10ss resulting from revaluing investments to market revaluation of fixed value at the end of the year. assets Gains/llosses1 on investment assets This includes any gain or loss on the sale of investments. Paoo ln Sound Vision CIO Notes to the Accounts Expenditure Recognition of expenditure Expenditure is recognised on an accruals basis. Expenditure includes any VAT 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, raising funds fundraising trading costs and investment management costs. Expenditure on These comprise the costs Incurred by the Charity in the delivery of its activities charitable activities and services in the furtherance of its objects, including the making of grants and governance costs. All grant expenditure is accounted for on an attual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. 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. These are support costs not allocated to a particular activity. Grants payable Governance costs Other expenditure Taxation The charity is exempt from corporation tax on its charitable activities. Tangible fixed assets and depreciation Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life: Fixtures and fittings 25% straight line 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 deposit5 Wlth 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 equivalent5 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. Pau011 Sound Vision CIO Notes to the Accounts 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. Receipt of donated goods, facilities and services All donated goods, facilities and sepdices received are recognised within incoming resources and expenditure at an estimate of the value to the charity. 2 Company status The company is a private company limited by guarantee and consequently does not have share capital. 3 Statement of Financial Artivities- prior year Unrestricted funds Restrirted funds Total funds 2023 2023 2023 Income and endowments from: Donations and legacies Charitable activities Other trading activities Investments 55,226 7,380 350 52,800 108,026 7,380 350 119 119 Total 63,075 52.800 115,875 Expenditure on.. Raising funds Charitable activities 10,701 77,970 13,461 10,701 84,034 18,138 6,065 4,678 Other Total 102.131 10,742 112,873 Net income {39,056) 42,058 3,002 Net income before other gains/(losses} Other gains and losses: Net movement in funds {39,056) 42,058 3,002 139.056) 42,058 3,002 Reconciliation of funds: Total funds brought forward Total funds carried forward 68,732 68,732 29,676 42,058 71,734 Sound Vision CIO Notes to the Accounts 4 Income from donations and legacies Unrestricted Restrirted Total Total 2024 2023 Grants Received Major Donors and one off donations Is,000 15,000 59,461 28.377 28,377 28,000 Regular donations Gift aid 13,001 7,755 13,001 7,755 64,133 12,113 8,452 108,026 49,133 15,000 5 Income from charitable activities Unrestricted Total Total 2024 2023 Alternative Provisions and education 11,985 11,985 7,380 11,985 11,985 7,380 6 Income from other trading artivities Unrestricted Total Total 2024 2023 Organisational Development 1,500 1,500 1,500 1,500 350 350 7 Income from investments Unrestricted Total Total 2024 2023 Interest received 164 164 119 164 164 119 8 Expenditure on raising funds Unrestricted Total Total 2024 2023 Cost5 of generating voluntary income Consultancy and sub contractors 10,753 10,753 9,549 CRM costs 950 950 936 Card Fees 151 151 216 11,854 11.854 10,701 Sound Vision CIO Notes to the Accounts 9 Expenditure on charitable activities Unrestricted Restricted Total Total 2024 2023 Expenditure on charitable octivities Alternative Provisions and education 18,271 61,727 79,998 4,800 Staff Payroll costs Training Support Costs Other costs 13,774 3,354 28 13,774 3,354 378 71,330 4,529 2,295 350 Governance costs Independent examtnation 349 731 1,080 98,584 1,080 84,034 35,776 62,808 10 Other expenditure Unrestrirted Restricted Total Total 2024 2023 Staff training and entertainment 1,220 1,220 527 Travel costs 482 Premises costs 147) 293 3,897 3,850 293 4,200 293 Depreciation of fixed assets General administrative costs 3,371 2,419 7,256 613 3,984 2,419 12,248 10,845 2,273 18,138 Legal and professional costs 4.992 11 Net (expenditure}/income before transfers 2024 Z023 This is stated after charging". Depreciation of owned fixed assets 12 Staff costs No employee received emoluments in excess of £60,LKM). 293 293 p￿0￿ 1 Sound Vision CIO Notes to the Accounts 13 Tangible fixed assets Fixtures and fittings Total Cost or revaluation At I September 2023 At 31 August 2024 Depreciation and impairment At I September 2023 Depreciation charge for the year At 31 August 2024 Net book values 1,172 1.172 1,172 1,172 358 358 293 293 651 651 At 31 August 2024 At 31 August 2023 14 Debtors 521 521 814 814 2024 2023 Trade debtors Prepayments and accrued income 1,800 3.516 5,316 3,730 3,730 15 Creditors: amounts falling due within one year 2024 2023 Trade creditors 2.926 1,533 2,275 78 Other t3xe5 and social security Other creditors Accruals 96 1,080 4,102 1,663 5,549 Sound Vision CIO Notes to the Accounts 16 Movement in funds Incoming resources At31 (including September other 2023 gains/lossesJ Resources Atl expended August 2024 Restritted funds: Restricted income funds: VNF Street to Studio io,(x)o 27.OtK) {io,0001 127,0001 Arts Council - Studio to Stage Sunrise Foundation - Positive Pathways Roper Family Trust Medlock NR After Schools 15,800 I15,8￿) {io,0001 15,0001 10,000 5,000 Total 52,800 15,000 167,8001 Unrestrlrted funds: General funds 18,934 62,782 IS4,8861 26,830 Total funds 71.734 77,782 {122,686} 26,830 Purposes and restrictions in relation to the funds: Restricted funds.. VNF Street to Studio a fund to support delivering Arts Awards in the Bath area with Youth Connect SW Arts Council - Studio to Stage 3 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. Roper Family Trust a fund to support after schools training in Midsomer Norton area - specifically pupils with Autism. a fund to support after schools training in Midsomer Norton area- specifically pupils with Autism. 17 Analysis of net assets between fund5 Medlock NR After Schools Unrestricted funds Total Fixed assets 521 521 Net current assets 26.309 26,830 26,309 26,830 PJo