Charity number: 1194022
Speech Bubbles CIO
Report of the Trustees and Unaudited Financial Statements
For the period ended 31 August 2022
Speech Bubbles CIO Contents Page For the period ended 31 August 2022
| Report of the Trustees | 1 to 2 |
|---|---|
| Independent Examiner's Report to the Trustees | 3 |
| Statement of Financial Activities | 4 |
| Statement of Financial Position | 5 |
| Notes to the Financial Statements | 6 to 11 |
Speech Bubbles CIO Report of the Trustees For the period ended 31 August 2022
The Trustees have pleasure in presenting their report and the financial statements for the charity for the period ended 31 August 2022. The Trustees have adopted the provisions of 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 the Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
To advance the arts for the public benefit by the promotion in particular, but not exclusively, of the art of drama.
Drama workshops in primary schools that support the communication, confidence, and social interaction of children with communication needs.
The trustees have considered the Charity Commission’s guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.
ACHIEVEMENTS AND PERFORMANCE
Significant activities
We have supported 1390 children in 74 primary schools to develop their communication skills, build confidence and develop positive social interaction.
With the support of Paul Hamlyn Foundation we trialled a successful Covid Recovery version of the programme.
Teachers report that over 86% of participating children showed improvements in speaking, listening and learning and 86% showed improvements in emotional behaviour and conduct behaviour.
'Joy started the year as quiet, shy. Has really come out of her shell and is now confident to speak aloud with both adults and peers.' Class teacher.
Research from Dr J Barnes identified additional positive wellbeing and professional development benefits for the school staff who support the programme. At a time when there is a recruitment and retention crisis in schools this is a significant additional benefit.
'it completely lifts the mood, and we just have real fun and its good for everyone's mental health, adults and children.' Teaching Assistant
FINANCIAL REVIEW
We have come to the end of our first full year of operations and have used our restricted and unrestricted income to deliver a significant amount of positive work for our beneficiaries.
At the end of this, our first reporting period, we have built a reserve fund and have secured grant income from the Foyle Foundation, Garfield Weston, Walcott Foundation, Communication Trust and Paul Hamlyn Foundation for the year ahead.
Reserves
Speech Bubbles CIO maintains free unrestricted reserves:
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to provide a level of working capital that protects the continuity of our core work
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to provide a level of funding for unexpected opportunities
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to provide cover for risks such as unforeseen expenditure or unanticipated loss of income.
The board of trustees will review the above criteria with reference to Speech Bubbles CIO's strategy and Annual Plan and determine the target level of free reserves to meet these.
The board of trustees will at times designate funds from free reserves for significant project costs or replacement of major assets.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Speech Bubbles was constituted as a Charitable Incorporated Organisation registered on 07 April 2021.
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Speech Bubbles CIO Report of the Trustees Continued For the period ended 31 August 2022
Recruitment and appointment of trustees
(1)At every annual general meeting of the members of the CIO, one-third of the charity trustees shall retire from office. If the number of charity trustees is not three or a multiple of three, then the number nearest to one-third shall retire from office
(2)The charity trustees to retire by rotation shall be those who have been longest in office since their last appointment or reappointment. If any trustees were last appointed or reappointed on the same day those to retire shall (unless they otherwise agree among themselves) be determined by lot;
(3)The vacancies so arising may be filled by the decision of the members at the annual general meeting; any vacancies not filled at the annual general meeting may be filled as provided in sub-clause (4) of this clause:
(4) The members or the charity trustees may at any time decide to appoint a new charity trustee, whether in place of a charity trustee who has retired or been removed in accordance with clause 15) (Retirement and removal of charity trustees), or as an additional charity(1)trustee, provided that the limit specified in clause 12) (3) on the number of charity trustees would not as a result be exceeded;
(5)A person so appointed by the members of the CIO shall retire in accordance with the provisions of sub-clauses (2) and (3) of this clause. A person so appointed by the charity trustees shall retire at the conclusion of the next annual general meeting after the date of his or her appointment, and shall not be counted for the purpose of determining which of the charity trustees is to retire by rotation at that meeting.
REFERENCE AND ADMINISTRATIVE INFORMATION
Name of Charity Speech Bubbles CIO Charity registration number 1194022 Principal address 3-5 Elephant Lane Rotherhithe London SE16 4JD
Trustees
The trustees and officers serving during the year and since the year end were as follows:
Jason Lower (Appointed: 09 May 2022) Lilian Michelle Rice (Appointed: 09 May 2022) Caitlin Maria Eva McLoughlin (Appointed: 09 May 2022) Olamide Davies (Appointed: 09 May 2022) Jane Stokes (Appointed: 01 March 2021) Wayne Cooper (Appointed: 01 March 2021) Frances Catherine Jones (Appointed: 09 May 2022) Phil Kemp (Appointed: April 2021 and Resigned: February 2022)
Independent examiners
Amanda Hall Counterculture Partnership LLP Unit 115, Ducie House Ducie Street Manchester M1 2JW
Approved by the Board of Trustees and signed on its behalf by
............................................................................. Frances Jones, Trustee
10 January 2023
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Speech Bubbles CIO Independent Examiners Report to the Trustees For the period ended 31 August 2022
I report to the trustees on my examination of the accounts of the charity for the period ended 31 August 2022.
Responsibilities and basis of report
As the charity trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiners statement
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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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination.
I have no concerns and have come across no 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 accounts to be reached.
Amanda Hall Counterculture Partnership LLP Unit 115, Ducie House Ducie Street Manchester M1 2JW
10 January 2023
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Speech Bubbles CIO Statement of Financial Activities For the period ended 31 August 2022
| Notes Income and endowments from: Donations and legacies 2 Charitable activities 3 Investments 4 Total Expenditure on: Raising funds 5 Charitable activities 6/7 Total Net income Total funds carried forward |
Unrestricted funds £ - 46,266 6 46,272 (590) (17,958) (18,548) 27,724 27,724 |
Restricted funds £ 150,000 - - 150,000 - (130,000) (130,000) 20,000 20,000 |
2022 £ 150,000 46,266 6 196,272 (590) (147,958) (148,548) 47,724 47,724 |
|---|---|---|---|
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Speech Bubbles CIO Statement of Financial Position As at 31 August 2022
| Notes Fixed assets Tangible assets 11 Current assets 12 Debtors Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets Total assets less current liabilities Net assets The funds of the charity Restricted income funds 14 Unrestricted income funds 14 Total funds |
£ 2022 428 428 8,400 49,814 58,214 (10,918) 47,296 47,724 47,724 20,000 27,724 47,724 |
|---|---|
The financial statements were approved and authorised for issue by the Board and signed on its behalf by:
Frances Jones, Trustee
10 January 2023
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Speech Bubbles CIO Notes to the Financial Statements For the period ended 31 August 2022
1. Accounting Policies
Basis of accounting
The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and in accordance with the Charities SORP (FRS 102) ‘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)', Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Charities Act 2011.
Speech Bubbles CIO 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).
Going concern
The financial statements are prepared, on a going concern basis, under the historical cost convention.
Funds
The charity maintains a general unrestricted fund which represents funds which are expendable at the discretion of the trustees in furtherance of the objects of the charity. Such funds may be held in order to finance both working capital and capital investment.
Designated funds comprise of unrestricted funds that have been set aside by the Trustees for particular purposes.
Restricted funds have been provided to the charity for particular purposes, and it is the policy of the board of trustees to carefully monitor the application of those funds in accordance with the restrictions placed upon them.
There is no formal policy of transfer between funds or on the allocation of funds to designated funds, other than that described above
Incoming resources
All incoming resources are included in the statement of financial activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy.
Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. Grants of a general nature that are not conditional on delivering certain levels of service are included in donations and legacies.
Resources expended
All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for its expenditure. All costs have been directly attributed or proportionally charged to the functional categories of resources expended in the SOFA. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which is relates.
Expenditure on charitable activities comprises the costs of undertaking the relevant projects. These costs are classified as direct charitable expenses.
Governance costs comprise costs related to the governance of the charity, to allow it to operate and to generate information for public accountability. Direct costs will include independent examination fees, legal advice and costs of trustees' meetings.
All remaining costs are classified as support costs. Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office and admin costs
Taxation
As a registered charity, the company is exempt from income and corporation tax to the extent that its income and gains are applicable to charitable purposes only.
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Speech Bubbles CIO Notes to the Financial Statements Continued
For the period ended 31 August 2022
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 20% Straight line
Irrecoverable VAT
Irrecoverable VAT is included in the Statement of Financial Activities and is reported as part of the expenditure to which it relates.
2. Income from donations and legacies
| Restricted funds Grants received Analysis of grants received Garfield Weston I Can Charity Paul Hamlyn Foundation Peabody Trust Royal Society of Art Walcot Foundation |
2022 £ 150,000 150,000 2022 £ 20,000 25,000 88,000 1,000 5,000 11,000 150,000 |
|---|---|
3. Income from charitable activities
| 2022 | |
|---|---|
| £ | |
| Unrestricted funds | |
| Income from charitable activities | 46,266 |
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Speech Bubbles CIO Notes to the Financial Statements Continued For the period ended 31 August 2022
4. Investment income
| Unrestricted funds Bank interest receivable xpenditure on generating donations and legacies Unrestricted funds Cost of fundraising osts of charitable activities by fund type Charitable activities Support costs osts of charitable activities by activity Support costs Charitable activities |
Unrestricted funds £ 6,425 11,533 17,958 Activities undertaken directly £ 136,425 |
Restricted funds £ 130,000 - 130,000 Support costs £ 11,533 |
2022 £ 6 6 2022 £ 590 590 2022 £ 136,425 11,533 147,958 2022 £ 147,958 |
|---|---|---|---|
5. Expenditure on generating donations and legacies
6. Costs of charitable activities by fund type
7. Costs of charitable activities by activity
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Speech Bubbles CIO Notes to the Financial Statements Continued For the period ended 31 August 2022
8. Analysis of support costs
| Finance IT Staffing costs Governance costs |
2022 £ 4,240 1,685 4,118 740 750 11,533 |
|---|---|
9. Net income/(expenditure) for the period
| et income/(expenditure) for the period | |
|---|---|
| This is stated after charging/(crediting): | |
| 2022 | |
| £ | |
| Depreciation of owned fixed assets | 143 |
| Auditor's fees | 750 |
| Staff pension contributions | 1,701 |
10. Staff costs and emoluments
Total staff costs for the period ended 31 August 2022 were:
| Salaries and wages Pension costs Staff numbers (FTE) |
2022 £ 56,500 1,701 58,201 2022 1.4 1.4 |
|---|---|
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Speech Bubbles CIO Notes to the Financial Statements Continued For the period ended 31 August 2022
11. Tangible fixed assets
| Computer | |
|---|---|
| Cost or valuation | Equipment |
| £ | |
| Additions | 571 |
| At 31 August 2022 | 571 |
| Depreciation | |
| Charge for period | 143 |
| At 31 August 2022 | 143 |
| Net book values | |
| At 31 August 2022 | 428 |
12. Debtors
| Amounts due within one year: Trade debtors Creditors: amounts falling due within one year Trade creditors Other creditors Accruals and deferred income |
2022 £ 8,400 8,400 2022 £ 331 2,837 7,750 10,918 |
|---|---|
13. Creditors: amounts falling due within one year
14. Movement in funds
| Unrestricted Funds General General |
Incoming resources £ 46,272 46,272 |
Outgoing resources £ (18,548) (18,548) |
Balance at 31/08/2022 £ 27,724 27,724 |
|---|---|---|---|
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Speech Bubbles CIO Notes to the Financial Statements Continued For the period ended 31 August 2022
Restricted Funds
| Projects | Incoming resources £ 150,000 150,000 |
Outgoing resources £ (130,000) (130,000) |
Balance at 31/08/2022 £ 20,000 20,000 |
|---|---|---|---|
Purpose of restricted funds
Projects
To plan and deliver drama for communication interventions in schools
15. Analysis of net assets between funds
| Unrestricted funds General General Restricted funds Projects |
Tangible fixed assets Net current assets / (liabilities) Net Assets £ £ £ 428 27,296 27,724 - 20,000 20,000 428 47,296 47,724 |
|---|---|
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