2024-09-30-accounts - Big Tent Foundation

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Big Tent Foundation

(A Company Charity limited by guarantee)

Charity Number 1195014 Registered Company Number 10918359

Trustees’ Annual Report & Financial Statements for the year ended 30th September 2024

Charity accounts preparation & independent examination service

Big Tent Foundation

Charity number 1195014

	Contents
Index		Page
Directors (Trustees)	Annual Report	1
Independent Examiner’s Report		5
Statement of Financial Activities		6
Balance Sheet		7
Notes to the Accounts		9

Big Tent Foundation

(Charity Number 1195014)

Director’s Report (incorporating the Trustees’ Annual Report)

For the year ended: 30th September 2024

The Trustees, who are also Directors of the charity for the purpose of the Companies Act, present their annual report and financial statements for the year ended 30th September 2024.

Reference and Administration details

Charity’s Full Name: Big Tent Foundation Other names the charity is known by: Radix Big Tent Status: A charitable organisation established as a Company limited by guarantee. Registered as a Company on: 16th August 2017 Registered as a Charity on: 29th June 2021 Company number: 10918359 Charity number: 1195014 Registered office: 14 Sandringham Street, York, YO10 4BA Bank: Santander

Names of the Directors (trustees) who manage the charity

Trustee name Office (if any) Dates acted if not Name of person entitled whole year to appoint trustee P Goldsmith M Holland G De Sellers S N Kinnock A D Lansley M Polan N Silver J Zamit-Lucia

Big Tent Foundation

(Charity Number 1195014)

Director’s Report (incorporating the Trustees’ Annual Report)

Structure, governance and management

Description of the charity’s trusts

Governing Document Memorandum and Articles of Association How the charity is constituted A Company limited by guarantee Trustee selection methods Director’s are appointed by the board for a term of up to 3 years. Any director so appointed shall be eligible for reappointment if the directors think fit for a further term of up to 3 years. A director may serve a maximum of 3 such terms, save that, in exceptional circumstances, a director may be reappointed for an additional term of up to 1 year. A director must note vote on his or her re-appointment.

The company obtained charitable status on 29th June 2021. The trustees were in agreement to transfer the assets and liabilities to the charity.

The charity is constituted as a company limited by guarantee and governed by its memorandum and articles of association.

Objectives and Activities

The charity has power to do anything which is calculated to further its Object(s) or is conducive or incidental to doing so.

Summary of the purposes of the charity set out in its governing document

The charity’s objects (‘Objects’) are for the public benefit and specifically restricted to the following:

(a) to advance education in a non-partisan manner in issues of public policy, in particular but not exclusively by:

(i) bringing together political thinkers and entrepreneurial and cultural thought leaders and the public to discuss and debate public policy ideas in environments that are conducive to open minded, collaborative and civil dialogue, such as public festivals, summits and other public events;

(ii) promoting awareness of the role of institutions and democratic traditions in safeguarding a strong and tolerant society; and

(iii) promoting study and research in issues of public policy and publishing the results of such research; and

(b) to further such other related purposes which are exclusively charitable under the law of England and Wales as the directors shall determine

The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives, and in planning future activities.

Summary of the main activities undertaken for the public benefit in relation to these objects

Education and community development by convening and curating public policy disclosure.

Big Tent Foundation

(Charity Number 1195014)

Director’s Report (incorporating the Trustees’ Annual Report)

Achievements and Performance

Summary

Established a Commission, under the chairpersonship of Dame Kate Barker CBE, to review housing policy and make recommendations to the incoming government to tackle England Housing shortage, publishing initial recommendations in the immediate aftermath of the general election, which were welcomed by the new Housing Minister
Continued the work of the New Capital Consensus to identify reforms to the investment system to release more funds for green infrastructure, conducting launching qualitative and quantitative research to understand the scale and nature of the obstacles faced.
Published policy papers a wide variety of topics including pensions reform, health policy, and improving the quality of MPs the recommendations from were shared with those responsible for drawing up the party manifestos.
Hosted six webinars with guest speakers such as Lord Finkelstein, Prof Tim Bale, Will Hutton and Vicky Pryce, engaging with over 500 participants.
Published a report on the main recommendations arising from the York Big Idea Festival held in July 2023, which were shared with over 150 speakers.
Generated extensive coverage for our programme in traditional and social media including in the Sunday Times, inews and Guardian

Financial Review

During the year the charity received income of £236,547 (2023: £227,707). These funds have been used to support the Charity’s objectives

The funds raised were such as to provide sufficient liquid assets to meet the charity’s liabilities. We

continue to be dependent on individual donations and corporate sponsorship to maintain our activities

Investment in subsidiary

The Trustees of the Big Tent Foundation invested in the Big Tent Ideas Festival (BTIF) subsidiary to obtain the best level of financial return within the level of risk considered to be acceptable.

Big Tent Foundation is performing well, both in P&L and balance sheet terms. However its festival subsidiary The Big Tent Ideas Festival (BTIF) is becoming less active, although still profitable. We do not expect it to be mounting a large ideas festival next year, so we suggest writing it down in value now by £50,000 in the Foundation’s accounts, and noting that if BTIF remains profitable but doesn’t grow, we may write it down by a further £50,000 the following year. The Foundation’s balance sheet is strong enough to do this, leaving it with positive net assets and capital and reserves after such a writedown.

Big Tent Foundation

(Charity Number 1195014)

Director’s Report (incorporating the Trustees’ Annual Report)

Trustee Responsibilities in relation to Financial Statements

Company law requires the directors to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the company and of the income and expenditure of the company for the year.

In preparing those financial statements, the directors are required to:

Select suitable accounting policies and then apply them consistently;
Make judgements and estimates that are reasonable and prudent;
State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue on that basis.

The directors are responsible for keeping proper accounting records which disclose, with reasonable accuracy at any time, the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. The directors also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities, as well as exercising proper financial controls.

Members of the Board of Trustees, who are Directors for the purpose of company law, and Trustees for the purpose of charity law, who served during the year and up to the date of this report are set out on page 1.

Disclosure of information

In accordance with company law, as the company’s Directors, each of the Board of Trustees certify that so far as they are aware:

There is no relevant information of which the Charity’s Independent Examiner is unaware;
As Directors of the company, they have taken the necessary steps to be aware of the information, which would be relevant for independent examination purposes and have communicated them to the Independent Examiner.

Exemptions

The trustees have taken advantage of the exemption available to small companies, including the audit exemption (as detailed on the balance sheet)

Declaration

The trustees declare that they have approved the Trustees Annual Report and Accounts

Signed on behalf of the charity’s trustees

Signature

Full Name Position

Date

Big Tent Foundation

(Charity Number 1195014)

Independent examiner’s report to the Directors (trustees) of Big Tent Foundation

I report on the accounts of: Big Tent Foundation

For the year ended: 30th September 2024 Which are set out on pages 6-14

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company 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 accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
the accounts do not accord with those records
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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;

the accounts 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 102).

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.

Karen Wood ACMA, CGMA Outsource independent examination service 2 Galligap Lane Osbaldwick, York YO10 3NR

Date

Big Tent Foundation

(Charity Number 1195014)

Statement of Financial Activities for the year ended: 30th September 2024

Income from Total income Note Note 3.1 4.1 3.2 4.2 4 3.3 3.4 3 Charitable activities Other income Investments Donations and grants Expenditure on Charitable activities Raising funds Total expenditure Net income/(expenditure) Gross transfers between funds Loss on revaluation of investment asset Net movement in funds Total funds brought forward Total funds carried forward	Unrestricted funds Restricted funds 2024 Total 2023 Total £ £ £ £ 129,467 - 129,467 223,286 - - - - 107,000 - 107,000 4,389 80 - 80 32
	236,547 - 236,547 227,707
	£ £ £ £ 55,667 - 55,667 74,820 79,673 - 79,673 142,073
	135,340 - 135,340 216,893

	101,207 - 101,207 10,814
	- - - - (50,000) - (50,000) -
	51,207 - 51,207 10,814
	139,525 - 139,525 128,711
	190,732 - 190,732 139,525

Big Tent Foundation

(Charity Number 1195014)

30th September 2024 Balance sheet as at:	30th September 2024 Balance sheet as at:
Note 8 Fixed assets Investment asset Total fxed assets 9 Current assets Cash at bank and in hand Debtors and prepayments Total current assets 10 Current liabilities: amounts falling due within one year Creditors and accruals Net current assets Total less current liabilities 11 Current liabilities: amounts falling due within one year Net assets Funds of the charity Unrestricted funds Total funds carried forward	2024 2023
	124,001 174,001
	76,540 3,069 - 3,000
	76,540 6,069
	(9,809) (40,545)
	66,731 (34,476)

	190,732 139,525

	- -

	190,732 139,525
	190,732 139,525
	190,732 139,525

Big Tent Foundation

(Charity Number 1195014)

Balance sheet as at:

30th September 2024

The trustees are satisfied that the company is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the audit of the financial statements for the year by virtue of section 477, and that no member or members have requested an audit pursuant to section 476 of the Act.

The directors (trustees) acknowledge their responsibilities for:

i) ensuring the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006; and

ii) preparing financial statements which give a true and fair view of the state of affairs of the company at the end of each financial year and of its profit and loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the 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 (Charities SORP (FRS 102)).

The financial statements were approved by the trustees and signed on their behalf by:

Date

Position:

Full Name:

Big Tent Foundation

(Charity Number 1195014)

Notes to the Accounts for the year ended:

30th September 2024

1. Basis of preparation

1.1 Basis of accounting

The financial statements are prepared under the historical cost convention and the 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 (Charities SORP (FRS 102)).

1.2 Change of basis of accounting

There has been no change to the accounting policies (valuation rules and methods of accounting) since last year.

The company charity is exempt under s399 (2A) of the Companies Act 2006 from the requirements to prepare consolidated accounts with its subsidiary.

2. Accounting policies

Income

Recognition of incoming resources

These are included in the Statement of Financial Activities (SoFA) when:

the charity becomes entitled to the resources;
receipt of the resources is probable; and
the monetary value can be measured with sufficient reliability.

Expenditure and liabilities

Liability recognition

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.

Charitable expenditure

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services. It includes both costs that can be allocated directly to such activities and those costs on an indirect nature necessary to support them.

Big Tent Foundation

(Charity Number 1195014)

Notes to the Accounts for the year ended:

30th September 2024

Assets

The chairty does not have any fixed assets

Fund accounting

All of the charity’s funds are unrestricted

Unrestricted funds are funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

3. Analysis of income

Membership subscriptions nayss o ncome 3.1 Donations and grants Donations and gifts Gift aid 3.3 Other income Radix Ltd Project income 3.4 Investments Total income Bank interest 3.2 Charitiable activities Leadership summit	2024 Unrestricted funds Total 2024 £ £ 109,055 109,055 15,820 15,820 4,592 4,592 129,467 129,467 - - 107,000 107,000 107,000 107,000 80 80 80 80 236,547 236,547 - - - -	2023 Unrestricted funds Total 2023 £ £ 210,283 210,283 7,466 7,466 5,537 5,537
		223,286 223,286
		- -
		- -
		889 889 3,500 3,500
		4,389 4,389
		32 32
		32 32

		227,707 227,707

Big Tent Foundation

(Charity Number 1195014)

30th September 2024 Notes to the Accounts for the year ended:	30th September 2024 Notes to the Accounts for the year ended:	30th September 2024 Notes to the Accounts for the year ended:
4. Analysis of expenditure Raising funds Charitable activities Salaries Salary& subcontractor costs Consultancy Legal fees Publications IT & software Offce costs & equipment Bank charges Fundraising costs Travel & subsistance Project expenses Summit costs Branding & marketing Audit & accountancy fees Website General Expenses Total expenditure	2024 Unrestricted funds Total 2024 55,667 55,667 - - 55,667 55,667 £ £ 18,556 18,556 4,489 4,489 15,019 15,019 24,509 24,509 - - - - - - - - 2,483 2,483 4,056 4,056 - - 8,440 8,440 186 186 1,935 1,935 79,673 79,673 135,340 135,340	2023 Unrestricted funds Total 2023 62,340 62,340 12,480 12,480
		74,820 74,820
		£ £ 19,023 19,023 562 562 50,459 50,459 1,280 1,280 - - 26,514 26,514 1,236 1,236 19,003 19,003 2,375 2,375 5,940 5,940 - - 14,406 14,406 199 199 1,076 1,076
		142,073 142,073

		216,893 216,893

5. Trustee expenses

5.1 Trustee remuneration

No Trustees, nor any persons connected with them: - were reimbursed for expenses throughout the year. - recieved any benefits in kind.

Big Tent Foundation

(Charity Number 1195014)

Notes to the Accounts for the year ended:	30th September 2024	30th September 2024
6. Expenses
	2024	2023
Independent Examiner’s fees for reporting on the accounts	£1,000	£1,000
7. Paid employees
	2024	2023
Gross salaries	69,000	79,578
Subcontractors	-	-
Employers National Insurance	3,438	-
Pension contributions	1,785	1,785
	74,223	81,363

Average number of employees (full time equivalent)	1	1

One employee recieved emoluments in the band £80,000 to £89,999 per annum (2022:		one).

8. Investment assets

Investment assets
	£
Carrying (fair value) at beginning of year	174,001
Add additions	-
Less implements	(50,000)
Add reversal of impairments	-
	-
Carrying (fair value) at end of year	124,001

The investment in Big Tent Ideas Festival Ltd has been written down in view of the disappointing results. The Big Tent Ideas Festival (BTIF) is becoming less active, although still profitable, it is not expected to be a large ideas festival next year. Therefore it has been written down in value by £50,000 in the Foundation’s accounts. If BTIF remains profitable but doesn’t grow, it may be written down by a further £50,000 the following year.

Big Tent Foundation

(Charity Number 1195014)

Notes to the Accounts for the year ended: 30th September 2024

9. Debtors & prepayments

Analysis of creditors Amounts falling due within one year Trade creditors Loan with Mava Foundation Amount owed to subsidiary Director’s loans Other creditors & accruals 10. Creditors and accruals Amount owed by subsidiary Other debtors & prepayments	2024 2023 - - - 3,000
	- 3,000

	2024 2023 £ £ - - 4,448 11,448 - 14,338 - - 5,361 14,759
	9,809 40,545

12. Related Party Transactions

There were no related party transactions during the year:

Big Tent Foundation

(Charity Number 1195014)

Approval of accounts for the year ended

The report and accounts were approved at a meeting of the trustees held on

30th September 2024

Date

Signed for and on behalf of the trustees

Signature

Name

Position (e.g. Chair etc)

Date