Company number 11575853 Charity number 1182967
The Time And Tide Bell Organisation Limited
(Limited by Guarantee)
Report and Financial Statements
for the year ended 31 December 2021
Breckman & Company Limited Chartered Certified Accountants 49 South Molton Street London W1K 5LH
The Time And Tide Bell Organisation Limited
(Limited by Guarantee)
Contents
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Trustees' Report | 2 - 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities (including Income and Expenditure Account) | 6 - 9 |
| Balance Sheet | 10 |
| Notes to the Financial Statements | 11 - 17 |
The Time And Tide Bell Organisation Limited
(Limited by Guarantee)
Reference and Administrative Details
Constitution
The charitable company is a private company limited by guarantee registered in EW - England and Wales, company number 11575853 incorporated under the Companies Act and its governing document is its Memorandum and Articles of Association. The company is a registered charity, number 1182967.
Directors and trustees
The directors of the charitable company (The Time And Tide Bell Organisation Limited) are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees.
Policies and procedures adopted for the induction and training of trustees are ongoing and incorporated indirectly into the regular trustees meetings.
The trustees throughout the year and since the year end, were :
Alan Dix (Chair) Catherine Graham-Harrison Irene Gunston Judith Knight Clare Martynski Melanie Vandenbrouck
Secretary
Peter Gingold
Chief executive/day to day management
Peter Gingold
Independent Examiners
Breckman & Company Limited, 49 South Molton Street, London W1K 5LH.
Bankers
Unity Trust Bank, 4 Brindley Place, Birmingham B1 2JB.
Registered office and operation address
51 Hyde Vale, London SE10 8QQ.
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The Time And Tide Bell Organisation Limited
(Limited by Guarantee)
Trustees' Report
The trustees present their annual report together with the financial statements of the charity for the year ended 31 December 2021 which are also prepared to meet the requirements for a directors' report and accounts for Companies Act purposes.
The reference and administrative details set out on page 1 forms part of this report. The financial statements comply with Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association 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) and the Companies Act 2006.
Structure, Governance and Management
The Time and Tide Bell Organisation Limited (T & TB) is a Company Limited by Guarantee, and a Charity Registered with the Charity Commission, registration number 1182967. Its Governing Document is its Articles of Association, which is in standard form. Its operation is under the direction of its Board of Trustees. Trustees are also directors of the company for the purposes of Company Law as well as being members of the company.
The Articles require that there should be a minimum of three trustees; during the period in question six trustees served the charity. Their names are set out on page 1. Board meetings are held at a minimum quarterly, more frequently if required.
As set out in the Articles of Association new trustees are appointed by the existing trustees. Any trustee so appointed will hold office only until the next Annual General Meeting and will then be eligible for re-election. At each AGM one third of trustees stand down and may put themselves forward for re-election. New Trustees are provided with information on their role and responsibilities as a trustee and are given up-to-date information on the Charity. They meet the trustees to gain insights into the operation of the charity and attend a board meeting as an observer before being invited to join the meeting.
Day to day management is undertaken by the Producer and National Coordinator, Peter Gingold, working in collaboration with the Artistic Director, Marcus Vergette. All staff work part time.
Objectives and Activities
In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.
The objectives for which the organisation is registered as a charity are as follows:
-
1) To advance the education of the public in the physical and natural environment and its conservation, protection and improvement by the promotion of outdoor learning and engagement with the seashores of the United Kingdom.
-
2) To promote the arts for the benefit of the public by the installation of Tide Bells as public artworks around the coast of the United Kingdom.
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The Time And Tide Bell Organisation Limited
(Limited by Guarantee)
Trustees' Report
Accordingly activity breaks down into these two categories:
-
The organisation has a deep commitment to education about the natural environment, and particularly the seashore; this is in large part undertaken by the Education Coordinator, whose role is to support schools in the vicinity of bells in undertaking work on the seashore, while fitting within the national curriculum. It is also covered by a broader range of activity the organisation is undertaking, including the two commissions initiated in 2019 (see below).
-
The charity is pursuing the installation of further bells. At the end of the year there were six sites under development, the maximum possible under existing funding arrangements, and activity to seek new sites has therefore diminished. No bells were installed during the year, largely due to the pandemic.
Achievements and Performance
The period continued to be strongly influenced by Covid-19 and the various consequent lockdowns and restrictions on activity. This had two main effects: delaying work to get new bells installed, and inhibiting community activity, both locally and centrally inspired
Activity in the year included:
-
A great deal of work went into supporting the development of new bell sites, including the design of bell mountings, and provision of advice on fundraising, obtaining permissions from local authorities, the MMO, and Crown Estate.
-
Our Education Coordinator continued to work hard with primary schools, scout groups, home educators and other groups near the bells in a broad range of activity under the heading of environmental education.
-
We continued our regular Zoom meetings with members of bell communities, which remain a fertile source of community and creative thinking. The two commissions initiated during the lockdown started to take shape - see below.
-
On the Strandline, a 'performance parkour' piece by Prodigal UPG, who are based in Par, Cornwall, was completed. It had a number of performances in the South West, including a residency at the Eden Project. It is an outstanding piece of work, and an enormous credit to all concerned. The end of the period saw a lot of effort going into planning a national tour, including visits to a number of the bell sites, for the summer of 2022.
-
COTIDAL, is the commission from Tania Kovats - a 24 hour and 50 minute (the length of the lunar and hence tidal day) film depicting the sea and tides at bell sites. It will be deeply informed by spoken and visual inputs solicited from individuals who live near these bells, in response to the question 'What do you see when you see the sea?' After long consideration the decision was taken to proceed with a pilot scale project: The Appledore Chapter, centred on the first of the bells to be installed. With Arts Council financial support preparations were well under way at the end of the year for production early in 2022.
-
Prof Corinna Wagner of Exeter University obtained NERC funding to be 'embedded' with the organisation.
-
Towards the end of the year the Board initiated a review of activity, which led to a revised business plan for subsequent years.
Financial Review
T & TB core activity was funded exclusively by a grant from the National Lottery Community Fund (NLCF). The Arts Council provided a grant towards The Appledore Chapter of COTIDAL. The NLCF grant is divided into two - for capital and operational expenses respectively.
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The Time And Tide Bell Organisation Limited
(Limited by Guarantee)
Trustees' Report
The balance of this report outlines financial performance. Performance with respect to budget was satisfactory. It is too early in the Charity's life, and its funding is sufficiently simple, to establish a reserves policy.
The charity holds £74,471 in restricted reserves at the 31 December 2021.
Plans For Future Periods
The organisation will continue to:
-
Work with schools and other young people's organisations in the vicinity of the bells, to further develop their outdoor learning activity.
-
Continue to publicise the project in a variety of ways.
-
Continue to work with individual bell groups to support their local activity and contribution to the project as a whole.
-
Continue to work with individual bell groups to support their local activity and contribution to the project as a whole.
-
Work to develop the major national commission, COTIDAL, that will engage with people across all the bell locations, focusing on issues to do with sea level.
-
Seek to identify further projects that fit within the organisation's charitable objectives and business plan.
-
Seek other long term funding.
Small company exemptions
This report is prepared in accordance with the provisions of the Companies Act 2006 relating to small companies.
This report was approved by the Board of Trustees on 14 June 2022 and signed on its behalf by
Alan Dix (Chair) Trustee
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Independent Examiner's Report to the Trustees of The Time And Tide Bell Organisation Limited
I report on the accounts of the charity for the year ended 31 December 2021, which are set out on pages 6 to 17.
Respective responsibilities of trustees and examiner
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed
Having satisfied myself that the charity is not subject to an audit under company law and is eligible for independent examination, it is my responsibility to:
ꞏ examine the accounts under section 145 of the 2011 Act;
ꞏ follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act; and
ꞏ state whether particular matters have come to my attention.
Basis of independent examiner's statement
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention
-
which gives me reasonable cause to believe that in, any material respect, the requirements:
-
ꞏ to keep accounting records in accordance with section 386 of the Companies Act 2006; and
ꞏ to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
have not been met; or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Richard Nelson FCCA Breckman & Company Limited Chartered Certified Accountants
49 South Molton Street London W1K 5LH
14 June 2022
5
The Time And Tide Bell Organisation Limited
(Limited by Guarantee)
Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31 December 2021
| Restricted funds Notes £ Income and endowments from: 2 Charitable activities Artistic activities - page 7 157,368 Total 157,368 Expenditure on: Charitable activities: Artistic activities - page 8 145,913 Total 145,913 Net movement in funds: Net income 3 11,455 Reconciliation of funds: Total funds brought forward 63,016 Total funds carried forward 11 74,471 |
2021 Restricted Total funds £ £ 157,368 118,865 157,368 118,865 145,913 71,474 145,913 71,474 11,455 47,391 63,016 15,625 74,471 63,016 |
2020 Total £ 118,865 |
|---|---|---|
| 118,865 | ||
| 71,474 | ||
| 71,474 | ||
| 47,391 15,625 |
||
| 63,016 |
The notes on pages 11 to 17 form an integral part of these financial statements.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities.
6
The Time And Tide Bell Organisation Limited
(Limited by Guarantee)
Year ended 31 December 2021
| Income from charitable activities Project specific funding Grants/Donations Arts Council England National Lottery Community Fund - revenue National Lottery Community Fund - capital UK Research and Innovation |
2021 £ 13,050 57,006 87,312 - 157,368 |
2020 £ - 94,221 21,094 3,550 |
|---|---|---|
| 118,865 |
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The Time And Tide Bell Organisation Limited
(Limited by Guarantee)
Year ended 31 December 2021
| Expenditure on charitable activities Artistic activities Opening stock: raw materials Producer fees/salary costs Artistic director fees Education coordinator Project manager Film costs Cost of producing bells Evaluation Advertising/marketing Website costs Closing stock: raw materials Support costs - page 9 Governance costs - page 9 |
2021 £ 4,000 16,400 9,900 5,800 980 5,575 95,685 - 4,000 849 ) (4,000 139,189 4,793 1,931 145,913 |
2020 £ 4,000 15,500 5,000 13,500 - - 21,494 3,135 6,600 605 ) (4,000 65,834 4,200 1,440 71,474 |
|---|---|---|
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The Time And Tide Bell Organisation Limited
(Limited by Guarantee)
Year ended 31 December 2021
| Support and governance costs Support costs Office overheads Insurance Computer/software Administration costs Travel/transport Sundries Professional/financial Bookkeeping Legal/professional Bank charges Governance costs Board costs Accountancy/consultancy |
2021 £ 218 730 2,412 201 953 217 62 416 1,515 |
£ 948 2,613 1,232 4,793 1,931 6,724 |
2020 £ 217 560 1,997 102 1,120 132 72 - 1,440 |
£ 777 2,099 1,324 |
|---|---|---|---|---|
| 4,200 1,440 |
||||
| 5,640 |
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The Time And Tide Bell Organisation Limited
(Limited by Guarantee)
| Balance Sheet 31 December 2021 2021 Notes £ £ Current assets Raw materials 7 4,000 Debtors 8 376 Cash at bank and in hand 78,061 82,437 Liabilities Creditors: amounts falling due within one year 9 ) (7,966 Net current assets 74,471 Total assets less current liabilities 74,471 The funds of the charity Restricted funds 11 74,471 Total charity funds 74,471 |
2020 £ 4,000 25,164 50,556 79,720 ) (16,704 |
£ 63,016 |
|---|---|---|
| 63,016 | ||
| 63,016 | ||
| 63,016 |
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
ꞏ The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
ꞏ The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the provisions of the Companies Act 2006 applicable to companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees on 14 June 2022 and signed on its behalf by
Judith Knight
Alan Dix (Chair) Judith Knight Trustee Trustee
The notes on pages 11 to 17 form an integral part of these financial statements.
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The Time And Tide Bell Organisation Limited
(Limited by Guarantee)
Notes to the Financial Statements for the year ended 31 December 2021
1. Accounting policies
1.1. Basis of preparing the financial statements
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 2019) - (Charities SORP (FRS 102)), and the Companies Act 2006.
The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
1.2. Preparation of the accounts on a going concern basis.
The company is dependent on the continued support of grant aiding bodies. The trustees believe that the company will continue to receive this support and accordingly consider that it is appropriate to prepare the financial statements on the going concern basis.
1.3. Stock
Stock and raw materials are valued at the lower of cost and net realisable value.
1.4. Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due.
1.5. Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
1.6. Creditors and provisions
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.
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The Time And Tide Bell Organisation Limited
(Limited by Guarantee)
Notes to the Financial Statements for the year ended 31 December 2021
1.7. Incoming resources
All incoming resources are included in the Statement of Financial Activities when:
-
the charity is legally entitled to the funds
-
any performance conditions attached to the income have been met or are fully within the control of the charity
-
there is sufficient certainty that receipt of the income is considered probable
-
the amount can be reliably measured
- Donations and legacies
Grants/donations are recognised in incoming resources in the year in which they are receivable, except as follows:
-
when donors specify that grants/donations given to the charity must be used in future accounting periods, the income is deferred until those periods
-
when donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred and not included in incoming resources until the preconditions for use are met.
1.8. Expenditure
All expenditure is included on an accruals basis inclusive of any VAT which cannot be recovered and is recognised when:
-
there is a legal or constructive obligation to make a payment
-
it is probable that settlement will be required
-
the amount of the obligation can be measured reliably
- Charitable activities
Artistic activities - costs incurred in production of bells and related artistic activity during the year.
- Support costs
The administrative and overhead costs associated with running the office from which the company operates as well as governance costs. Support costs are wholly attributable to artistic activity costs.
- Governance costs
Costs associated with the constitutional and statutory requirements of the charity.
1.9. Fund accounting
Funds held by the charity are either:
-
Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.
-
Restricted funds - these are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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The Time And Tide Bell Organisation Limited
(Limited by Guarantee)
Notes to the Financial Statements for the year ended 31 December 2021
1.10. Financial Instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value, and subsequently measured at their settlement value.
1.11. Significant Accounting Estimates and Judgements
In determining the carrying amounts of certain assets and liabilities, the charity makes assumptions of the effects of uncertain future events on those assets and liabilities at the balance sheet date. The charity's estimates and assumptions are based on historical experience and expectation of future events and are reviewed annually.
2. Incoming resources
The total incoming resources for the year have been derived from the principal activity undertaken wholly in the UK.
| 3. | Net income for the year is | 2021 | 2020 |
|---|---|---|---|
| stated after charging: | £ | £ | |
| Independent Examiners' remuneration | |||
| - independent examination | 1,515 | 1,440 |
4. Trustees' emoluments and reimbursed expenses
The trustees received no remuneration during the period (2020 - nil).
The aggregated amount reimbursed to trustees during the period was £200 (2020 - £312).
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The Time And Tide Bell Organisation Limited
(Limited by Guarantee)
Notes to the Financial Statements for the year ended 31 December 2021
| 5. Staff costs and numbers Staff costs Salaries and wages |
2021 £ 16,400 16,400 |
2020 £ 15,500 |
|---|---|---|
| 15,500 |
No employee earned £60,000 or more during the year (2020 - nil).
The key management personnel of the charity comprise the Trustees and the Senior Management Team. The total employee benefits of the key management personnel of the charity were £16,400 (2020 - £15,500).
Staff numbers
The average numbers of employees (including casual and part time staff) during the year was made up as follows:
| 2021 | 2020 | |||
|---|---|---|---|---|
| Number | Number | |||
| Production | 1 | 1 |
6. Corporation taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
| 7. | Stocks | 2021 | 2020 |
|---|---|---|---|
| £ | £ | ||
| Raw materials | 4,000 | 4,000 |
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The Time And Tide Bell Organisation Limited
(Limited by Guarantee)
Notes to the Financial Statements for the year ended 31 December 2021
| 8. Debtors Other debtors Prepayments 9. Creditors: amounts falling due within one year Trade creditors Other taxation/social security Other creditors Accruals |
2021 £ - 376 376 2021 £ 3,069 - - 4,897 7,966 |
2020 £ 24,644 520 |
|---|---|---|
| 25,164 | ||
| 2020 £ 12,795 274 1,376 2,259 |
||
| 16,704 |
10. Limited by guarantee
The company is limited by guarantee and does not have a share capital. Each member gives a guarantee to contribute a sum, not exceeding £1, to the company should it be wound up. At 31 December 2021 there were 6 members.
15
The Time And Tide Bell Organisation Limited
(Limited by Guarantee)
Notes to the Financial Statements for the year ended 31 December 2021
| 11. Restricted funds Time and Tide Bell national project COTIDAL: The Appledore Chapter |
Brought Incoming forward resources £ £ 63,016 144,318 - 13,050 63,016 157,368 |
Brought Incoming forward resources £ £ 63,016 144,318 - 13,050 63,016 157,368 |
Outgoin Carried resourc forward £ £ ) (141,413 65,921 ) (4,500 8,550 ) (145,913 74,471 |
Outgoin Carried resourc forward £ £ ) (141,413 65,921 ) (4,500 8,550 ) (145,913 74,471 |
|---|---|---|---|---|
| 157,368 | 74,471 |
Time and Tide Bell national project
The project's aim is to greatly increase the number of Time and Tide Bells to 16. Sounding at high tide, individually and collectively these are major public artworks. They punctuate our coastline, drawing attention to the relationship between ourselves and our challenged marine environment.
The bells are almost always located in relatively disadvantaged communities, each with their own personality and issues to which they want the bells to draw attention. Playing a role far richer than normal public art, one of their defining qualities is the way they catalyse a broad range of locally driven community activity among the groups of local volunteers linked to them. The project will vigorously support this.
COTIDAL: The Appledore Chapter
We were awarded a grant of £14,500 towards the cost of completing COTIDAL: The Appledore Chapter. This will be a one hour long film centred on the estuarine coast of Appledore and surrounding areas. Film will be shot by visual artist Tania Kovats, and will include material contributed by members of the public from the locality.
They will be responding to the question posed by the artist: "what do you see when you see the sea?", in written, spoken and video form. Workshops will be held locally to develop a polyvocal response to the question. The film will be completed by the summer of 2022, and there will be a showing to contributing members of the public, in Appledore, early in the Autumn of 2022. We will contribute £1,500 towards the cost of the film.
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The Time And Tide Bell Organisation Limited
(Limited by Guarantee)
Notes to the Financial Statements for the year ended 31 December 2021
12. Analysis of net assets between funds
| Analysis of net assets between funds | |
|---|---|
| Restricted funds £ Fund balances at 31 December 2021 are represented by: Net current assets 74,471 74,471 |
Total £ 74,471 |
| 74,471 |
13. Related party transactions
During the year trustee Irene Gunston was paid a fee of £4,042 (2020 - nil) for moulding and casting clapper brackets for the bells, under normal trading terms.
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