**Charity number: 1194022**
## **Speech Bubbles CIO**
**Report of the Trustees and Unaudited Financial Statements**
**For the year ended 31 August 2023**
## **Speech Bubbles CIO Contents Page For the year ended 31 August 2023**
|Report of the Trustees|1 to 3|
|---|---|
|Independent Examiner's Report to the Trustees|4|
|Statement of Financial Activities|5|
|Statement of Financial Position|6|
|Notes to the Financial Statements|7 to 14|
## **Speech Bubbles CIO Report of the Trustees For the year ended 31 August 2023**
The Trustees have pleasure in presenting their report and the financial statements for the charity for the year ended 31 August 2023. 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**
## OBJECTIVES
To advance the arts for the public benefit by the promotion in particular, but not exclusively, of the art of drama.
## ACTIVITIES
Drama workshops in primary schools that support the communication, confidence, and social interaction of children with communication needs.
The Speech Bubbles CIO trustees have had regard to the Charity Commission guidance on Public Benefit
The trustees have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.
## **ACHIEVEMENTS AND PERFORMANCE**
## **Significant activities**
At the start of the year Speech and Language UK reported that 1.7million children are struggling with talking and understanding words in school, a 20% reported increase since pre-pandemic. Alongside that the morale in schools was negatively affected by high levels of absence of staff and pupils, industrial action and pressure on budgets. In that context we felt it was ever more vital to be joyful, play some games, tell some stories and have some fun!
In this year we have:
Worked with more schools and children than ever before. Reaching 2300 children in 133 schools. We were aiming for 80 schools, however emergency funding in Kent allowed us to expand, delivering a one off’ project to address locally identified need as a result of the pandemic. Alongside this growth we were able to maintain the quality of outcome for the children with schools reporting that 89% of participants showed improvements back in class.
Developed a CPD session for teachers Drama Tools for Great Communication. This was delivered to staff in 73 schools and was overwhelmingly positively received. This is now part of our core offer.
Created an adapted Speech Bubbles model for work in small and rural schools. This is being implemented across the partner network and is enabling us to reach children who have limited access to high quality arts education.
With the support of Warda Farah (Speech and Language Therapist) we added training resources to support all practitioners to deliver Speech Bubbles in a way that promotes Linguistic Justice, the right to be heard, for every child.
## **FINANCIAL REVIEW**
From Sept 2022 - August 2023 we had earned income from schools and theatre partners, grant income, pro bono consultancy and an individual donation. The grant income included support from:
## Walcott Foundation
Paul Hamlyn Foundation
Communication Trust (I Can)
Garfield Weston
Foyle Foundation
Royal Society for the Arts
Thanks to the Cranfield Trust for Pro Bono Consultancy support.
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## **Speech Bubbles CIO Report of the Trustees Continued For the year ended 31 August 2023**
## **Reserves**
Speech Bubbles CIO maintains free unrestricted reserves:
- to provide a level of working capital that protects the continuity of our core work
- to provide a level of funding for unexpected opportunities
- 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.
## **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 Lilian Michelle Rice Caitlin Maria Eva McLoughlin Olamide Davies Wayne Cooper Frances Catherine Jones Jane Stokes (Resigned: 17 October 2022)
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SCh Bubbl•s CIO
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Forthe yearended 31 August 2023
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## **Speech Bubbles CIO Independent Examiners Report to the Trustees For the year ended 31 August 2023**
I report to the trustees on my examination of the accounts of the charity for the year ended 31 August 2023.
## **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:
1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or 2. the accounts do not accord with those records; or
3. 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
20th December 2023
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## **Speech Bubbles CIO**
## **Statement of Financial Activities For the year ended 31 August 2023**
|**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/expenditure**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**£**
95,998
55,747
233
**151,978**
(2,200)
(112,690)
**(114,890)**
**37,088**
27,724
**64,812**|**Restricted**
**funds**
**£**
66,750
-
-
**66,750**
-
(70,000)
**(70,000)**
**(3,250)**
20,000
**16,750**|**2023**
**£**
162,748
55,747
233
**218,728**
(2,200)
(182,690)
**(184,890)**
**33,838**
47,724
**81,562**|**2022**
**£**
150,000
46,266
6|
|---|---|---|---|---|
|||||**196,272**|
|||||(590)
(147,958)|
|||||**(148,548)**|
|||||**47,724**
-|
|||||**47,724**|
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Statement of Flnanclal Posttlon
As at31 August 2023
2023
2022
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15
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47.724
•$sèts loss curr•ntllabL¥tI•
81,562
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47.724
61.812
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## **Speech Bubbles CIO Notes to the Financial Statements For the year ended 31 August 2023**
## **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. The following specific policies are applied to particular categories of income:
-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.
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 year ended 31 August 2023**
## **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 33% Straight line
33% Straight line
## **2. Income from donations and legacies**
|Donations received
Grants received
**Analysis of grants received**
Foyle Foundation
Garfield Weston
I Can Charity
Paul Hamlyn Foundation
Paul Hamlyn Foundation
Peabody Trust
Royal Society of Art
Walcott Grant
**ncome from charitable activities**
**Unrestricted funds**
_Helping children with speech_
_and language difficulties_
Income from charitable
activities|**Restricted**
**funds**
**Unrestricted**
**funds**
**£**
**£**
-
18,648
66,750
77,350
**66,750**
**95,998**|**2023**
**£**
18,648
144,100
**162,748**
**2023**
**£**
10,000
15,000
30,000
77,350
-
-
5,000
6,750
**144,100**
**2023**
**£**
55,747|**2022**
**£**
-
150,000|
|---|---|---|---|
||||**150,000**|
||||**2022**
**£**
-
20,000
25,000
-
88,000
1,000
5,000
11,000|
||||**150,000**|
||||**2022**
**£**
46,266|
## **3. Income from charitable activities**
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## **Speech Bubbles CIO Notes to the Financial Statements Continued For the year ended 31 August 2023**
## **4. Investment income**
|**Unrestricted funds**
Bank interest receivable
**xpenditure on generating donations and legacies**
**Unrestricted funds**
Donations
**osts of charitable activities by fund type**
Helping children with speech
and language difficulties
Support costs
**osts of charitable activities by activity type**
**Support costs**
Helping children with speech
and language difficulties|**Unrestricted**
**funds**
**£**
100,482
12,208
**112,690**
**Activities**
**undertaken**
**directly**
**£**
170,482|**Restricted**
**funds**
**£**
70,000
-
**70,000**
**Support**
**costs**
**£**
12,208|**2023**
**£**
233
**233**
**2023**
**£**
2,200
**2,200**
**2023**
**£**
170,482
12,208
**182,690**
**2023**
**£**
182,690|**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 type**
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## **Speech Bubbles CIO Notes to the Financial Statements Continued For the year ended 31 August 2023**
## **8. Analysis of support costs**
|**nalysis of support costs**|||
|---|---|---|
||**2023**|**2022**|
||**£**|**£**|
|**Helping children with speech and language difficulties**|||
|General administration|4,284|4,240|
|Finance|3,130|1,685|
|IT|2,713|4,118|
|Staffing costs|624|740|
|Governance costs|1,457|750|
||**12,208**|**11,533**|
## **9. Net income/(expenditure) for the year**
This is stated after charging/(crediting):
|This is stated after charging/(crediting):|||
|---|---|---|
||**2023**|**2022**|
||**£**|**£**|
|Depreciation of owned fixed assets|143|143|
|Accountancy fees|862|750|
|Staff pension contributions|2,006|1,701|
## **10. Staff costs and emoluments**
Total staff costs for the year ended 31 August 2023 were:
|Salaries and wages
Social security costs
Pension costs|**2023**
**£**
66,875
1,478
2,006
**70,359**|**2022**
**£**
56,500
-
1,701|
|---|---|---|
|||**58,201**|
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## **Speech Bubbles CIO Notes to the Financial Statements Continued For the year ended 31 August 2023**
||**2023**|**2022**|
|---|---|---|
|Employed staff FTE|2|2|
||**2**|**2**|
There were no employees (2022: £Nil) who received emoluments (excluding employer pension costs) of more than £60,000.
The key management personnel of the Charity, comprise the Chief Executive Officer and General Manager. The total employee benefits of the key management personnel of the charity were £68,881 (2022: £57,783).
## **11. Trustee remuneration and related party transactions**
The Charity trustees were not paid or received any other benefits from employment with the Charity or its subsidiary in the year (2022: £nil).
No trustees were reimbursed expenses during the year (2022:nil).
No charity trustee received payment for professional or other services supplied to the charity (2022: £nil).
There were no related party transactions requiring disclosure during the year.
## **12. Comparative for the Statement of Financial Activities**
|**Income and endowments from:**
Donations and legacies
Charitable activities
Investments
**Total**
**Expenditure on:**
Raising funds
Charitable activities
**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 Notes to the Financial Statements Continued For the year ended 31 August 2023**
## **13. Tangible fixed assets**
|**Cost or valuation**
At 01 September 2022
At 31 August 2023
**Depreciation**
At 01 September 2022
Charge for year
At 31 August 2023
**Net book values**
At 31 August 2023
At 31 August 2022|**Computer**
**equipment**
**£**
571|
|---|---|
||**571**|
||143
143|
||**286**|
||**285**|
||**428**|
## **14. Debtors**
|**Debtors**|||
|---|---|---|
||**2023**|**2022**|
||**£**|**£**|
|**Amounts due within one year:**|||
|Trade debtors|2,100|8,400|
|Prepayments and accrued income|2,500|-|
|Other debtors|1,244|-|
||**5,844**|**8,400**|
|**Creditors: amounts falling due within one year**|||
||**2023**|**2022**|
||**£**|**£**|
|Trade creditors|782|331|
|Other creditors|390|2,837|
|Accruals and deferred income|2,862|7,750|
||**4,034**|**10,918**|
## **15. Creditors: amounts falling due within one year**
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## **Speech Bubbles CIO Notes to the Financial Statements Continued For the year ended 31 August 2023**
## **16. Movement in funds**
## **Unrestricted Funds**
||**Balance at**|**Incoming**|**Outgoing**|**Balance at**|
|---|---|---|---|---|
||**01/09/2022**|**resources**|**resources**|**31/08/2023**|
||**£**|**£**|**£**|**£**|
|_General_|||||
|General|27,724|151,978|(114,890)|64,812|
||**27,724**|**151,978**|**(114,890)**|**64,812**|
|**Unrestricted Funds - Previous year**|||||
||**Balance at**|**Incoming**|**Outgoing**|**Balance at**|
||**01/04/2021**|**resources**|**resources**|**31/08/2022**|
||**£**|**£**|**£**|**£**|
|_General_|||||
|General|-|46,272|(18,548)|27,724|
||**-**|**46,272**|**(18,548)**|**27,724**|
|**Restricted Funds**|||||
||**Balance at**|**Incoming**|**Outgoing**|**Balance at**|
||**01/09/2022**|**resources**|**resources**|**31/08/2023**|
||**£**|**£**|**£**|**£**|
|Projects|20,000|66,750|(70,000)|16,750|
||**20,000**|**66,750**|**(70,000)**|**16,750**|
|**Restricted Funds - Previous year**|||||
||**Balance at**|**Incoming**|**Outgoing**|**Balance at**|
||**01/04/2021**|**resources**|**resources**|**31/08/2022**|
||**£**|**£**|**£**|**£**|
|Projects|-|150,000|(130,000)|20,000|
||**-**|**150,000**|**(130,000)**|**20,000**|
## **Purpose of restricted funds**
## Projects
To plan and deliver drama for communication interventions in schools
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## **Speech Bubbles CIO Notes to the Financial Statements Continued For the year ended 31 August 2023**
## **17. Analysis of net assets between funds**
|**Unrestricted funds**
_General_
General
**Restricted funds**
Projects
**Previous year**
**Unrestricted funds**
_General_
General
**Restricted funds**
Projects|**Tangible**
**fixed assets**
**Net current**
**assets /**
**(liabilities)**
**Net Assets**
**£**
**£**
**£**
285
64,527
64,812
-
16,750
16,750|
|---|---|
||**285**
**81,277**
**81,562**|
||**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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