Trustees’ Annual Report for the period
From 02/03/22 Period start date To 30/09/22 Period end date
Charity name: The Somerscience Trust
Charity registration number: 1198113
Objectives and Activities
| SORP reference | ||
|---|---|---|
| Summary of the purposes of the charity as set out in its governing document |
Para 1.17 | To advance the education of the public in Somerset in science, technology, mathematics and engineering and to promote public engagement in all aspects of STEM developments for the public benefit |
| Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. |
Para 1.17 and 1.19 |
This short first period was spent in successfully identifying a voluntary implementation team for the festival which would be the vehicle to carry out our objectives, and in identifying organisations who would be contributing STEM content for the festival. We also developed our website and branding. This was preparatory work for the festival to take place in May 23 |
| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Para 1.18 | At all times the trustees have been aware that our activities must be within the guidance issued by the Charity Commission on public benefit |
Additional information (optional) You may choose to include further statements where relevant about:
SORP reference
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Para 1.38
Policy on grant making
Para 1.38
Policy on social investment
including program related
investment
Para 1.38
Contribution made by
volunteers
Other
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Achievements and Performance
SORP reference
| Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. |
Para 1.20 | As mentioned above, this short period was spent in preparatory work for the festival which eventually would have an impact on beneficiaries. As such, we successfully put together an implementation team with the relevant skills to make the festival happen and targeted and recruited 55 organisations to provide content for the festival as well as planned and designed the website and festival programme. |
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Additional information (optional)
You may choose to include further statements where relevant about:
Achievements against
objectives set Para 1.41
Performance of fundraising
activities against objectives
set Para 1.41
Investment performance
against objectives Para 1.41
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Other
Financial Review
| Review of the charity’s financial position at the end of the period |
Para 1.21 | At the end of each financial period, including 30/09/22, Somerscience conducts a thorough review of its financial position to assess its overall fiscal health and make informed decisions for the future. This review involves a comprehensive analysis of our financial statements, including the balance sheet, income statement, and cash flow statement, among others. The purpose of this review is to: Evaluate Financial Performance: We examine our financial performance over the period to determine how well we have utilized our resources in achieving our mission. We assess key financial indicators such as revenue, expenses, and net assets to understand the efficiency and effectiveness of our operations. This analysis helps us identify areas of strength and areas that require improvement, enabling us to make informed decisions to optimize our financial performance. Ensure Compliance: We review our financial position to ensure compliance with applicable laws, regulations, and accounting standards. This includes assessing our adherence to legal and regulatory requirements related to financial reporting, tax obligations, and governance. By ensuring compliance, we maintain the trust and confidence of our stakeholders, including donors, partners, and the broader public. For 30/09/22, The trustees of The Somerscience Trust found that the |
|---|---|---|
| financial performance and compliance were in line with expectations. |
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|---|---|---|
| Statement explaining the policy for holding reserves stating why they are held |
Para 1.22 | At The Somerscience Trust we believe in transparency and accountability in our operations, including the management of reserves. We maintain reserves for the following reasons: Financial Stability: Reserves act as a financial safety net, providing a cushion to navigate unexpected challenges or economic fluctuations. They help us weather unforeseen events such as economic downturns, changes in donor funding, or emergencies that could impact our ability to carry out our programs and services. Program Continuity: Reserves enable us to sustain ongoing programs and services during periods of uncertainty or when there is a delay in anticipated funding. By having reserves in place, we can ensure that critical activities, such as providing aid to beneficiaries or conducting research, can continue uninterrupted even if there are temporary fluctuations in revenue. |
| Amount of reserves held | Para 1.22 | £1,500 |
| Reasons for holding zero reserves |
Para 1.22 | |
| Details of fund materially in deficit |
Para 1.24 | |
| Explanation of any uncertainties about the charity continuing as a going concern |
Para 1.23 |
Additional information (optional)
You may choose to include further statements where relevant about:
| The charity’s principal sources of funds (including any fundraising) |
Para 1.47 | |
|---|---|---|
| Investment policy and objectives including any social investment policy adopted |
Para 1.46 | |
| A description of the principal risks facing the charity |
Para 1.46 | |
| Other |
Structure, Governance and Management
| Description of charity’s trusts: |
||
|---|---|---|
| Type of governing document (trust deed, royal charter) |
Para 1.25 |
Trust Constitution |
| How is the charity constituted? (e.g unincorporated association, CIO) |
Para 1.25 | Charitable Incorporated Organisation |
| Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees |
Para 1.25 | Every trustee must be appointed for a term of 2 or 3 years by a resolution passed at a properly convened meeting of the charity trustees, apart from the founding trustees. Trustees other than founding trustees were selected and approved at the Trustee meeting on 19/05/22 based on their skills, knowledge and experience, and expertise in aspects of STEM and/or outreach events. |
| Additional information (optional) You may choose to include further statements |
where relevant about: | |
| Policies and procedures adopted for the induction and training of trustees |
Para 1.51 | |
| The charity’s organisational structure and any wider network with which the charity works |
Para 1.51 |
Relationship with any related parties Para 1.51 Other
Reference and Administrative details
| Charity name | The Somerscience Trust |
|---|---|
| Other name the charity uses | |
| Registered charity number | 1198113 |
| Charity’s principal address | 23 Priorygate Court Castle Cary Somerset BA7 7HT |
Names of the charity trustees who manage the charity
| 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 |
Trustee name | Office (if any) | Dates acted if not for whole **year ** |
Name of person (or body) entitled to appoint trustee (ifany) |
|---|---|---|---|---|
| Teresa Colleen Bower |
Chair | |||
| Simon Connell | Treasurer | |||
| Gavin Costigan | ||||
| Alan Champneys | 19/05/22 onwards | |||
| WendyAdams | 19/05/22 onwards | |||
| LucySmith | 19/05/22 onwards | |||
| Chris Budd | SafeguardingLead | 19/05/22 onwards | ||
– Corporate trustees names of the directors at the date the report was approved
Director name
Name of trustees holding title to property belonging to the charity
Trustee name Dates acted if not for whole year
Funds held as custodian trustees on behalf of others
Description of the assets N/A held in this capacity Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects
Details of arrangements for safe custody and segregation of such assets from the charity’s own assets
Additional information (optional)
Names and addresses of advisers (Optional information)
Type of Name Address adviser
Name of chief executive or names of senior staff members (Optional information)
Exemptions from disclosure
Reason for non-disclosure of key personnel details
Other optional information
Declarations
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
| Signature(s) Full name(s) Position (eg Secretary, Chair, etc) Date |
TC Bower | |
|---|---|---|
| Teresa Colleen Bower | ||
Chair |
||
| 19/06/23 | ||
| 19/06/23 |
| The Somerscience Trust | The Somerscience Trust | The Somerscience Trust | Charity No | 1198113 | 1198113 | ||
|---|---|---|---|---|---|---|---|
| Company No | CE028489 | ||||||
| Annual accounts for the period | |||||||
| Period start date | 02/03/2022 | To | Period end date |
30/09/2022 | |||
Section A Statement of financial activities (including summary income and expenditure account)
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Restricted
Unrestricted income Endowment Prior year
Recommended categories by activity funds funds funds Total funds funds
£ £ £ £ £
Income (Note 3) F01 F02 F03 F04 F05
Income and endowments from:
Donations and legacies S01 2,000 - - 2,000 -
Charitable activities S02 - - - - -
Other trading activities S03 - - - - -
Investments S04 - - - - -
Separate material item of income S05 - - - - -
Other S06 - - - - -
Total S07 2,000 - - 2,000 -
Expenditure (Notes 6)
Expenditure on:
Raising funds S08 - - - - -
Charitable activities S09 500 - - 500 -
Separate material expense item S10
Other S11 - - - - -
Total S12 500 - - 500 -
Net income/(expenditure) before tax for
the reporting period S13 1,500 - - 1,500 -
Tax payable S14 - - - - -
Net income/(expenditure) after tax before
investment gains/(losses) S15 1,500 - - 1,500 -
Net gains/(losses) on investments S16 - - - - -
Net income/(expenditure) S17 1,500 - - 1,500 -
Extraordinary items S18 - - - -
Transfers between funds S19 - - - - -
Other recognised gains/(losses):
Gains and losses on revaluation of fixed assets for the
charity’s own use S20 - - - - -
Other gains/(losses) S21 - - - - -
Net movement in funds S22 1,500 - - 1,500 -
Reconciliation of
funds:
Total funds brought forward S23 - - - - -
Total funds carried forward S24 1,500 - - 1,500 -
Guidance Note
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Section B Balance sheet
| Guidance Note | Unrestricted funds |
Restricted income funds |
Endowment funds |
Total this year |
Total last year |
|
|---|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | ||
| Fixed assets | F01 | F02 | F03 | F04 | F05 | |
| Intangible assets(Note 15) | B01 | - | - | - | - | - |
| Tangible assets(Note 14) | B02 | - | - | - | - | - |
| Heritage assets(Note 16) | B03 | - | - | - | - | - |
| Investments(Note 17) | B04 | - | - | - | - | - |
| Total fixed assets | B05 | - | - | - | - | - |
| Current assets | ||||||
| Stocks(Note 18) | B06 | - | - | - | - | - |
| Debtors(Note 19) | B07 | - | - | - | - | - |
| Investments(Note 17.4) | B08 | - | - | - | - | - |
| Cash at bank and in hand(Note 24) | B09 | 1,500 | - | - | 1,500 | - |
| Total current assets | B10 | 1,500 | - | - | 1,500 | - |
| Creditors: amounts falling due within one year(Note 20) |
B11 | - | - | - | - | - |
| Net current assets/(liabilities) | B12 | 1,500 | - | - | 1,500 | - |
| Total assets less current liabilities | B13 | 1,500 | - | - | 1,500 | - |
| Creditors: amounts falling due after one year(Note 20) |
B14 | - | - | - | - | - |
| Provisions for liabilities | B15 | - | - | - | - | - |
| Total net assets or liabilities | B16 | 1,500 | - | - | 1,500 | - |
| Funds of the Charity | ||||||
| Endowment funds (Note 27) | B17 | - | - - 1,500 - |
- | ||
| Restricted income funds (Note 27) | B18 | - | - | |||
| Unrestricted funds | B19 | 1,500 | - | - | ||
| Revaluation reserve | B20 | |||||
| Fair value reserve | B21 | |||||
| Total funds | B22 | 1,500 | - | - | 1,500 | - |
| The company was entitled to exemption from audit under s477 of the Companies Act 2006 relating to small companies. |
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| The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. |
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| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts. |
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| These accounts have been prepared in accordance with the provisions applicable to small companies subject to the smallcompanies regime and inaccordance with FRS102 SORP. |
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| Signed by one or two trustees/directors on behalf of all the trustees/directors |
Print Name | Date of approval dd/mm/yyyy |
||||
| Teresa C Bower | 19/06/2023 | |||||
| Signature of director authenticating accounts being sent to Companies House |
Signature | Date dd/mm/yyyy |
||||
| N/A | ||||||
| Print name |
| Guidance Note | Unrestricted funds |
Restricted income funds |
Endowment funds |
Total this year |
Total last year |
|
|---|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | ||
| Fixed assets | F01 | F02 | F03 | F04 | F05 | |
| Intangible assets(Note 15) | B01 | - | - | - | - | - |
| Tangible assets(Note 14) | B02 | - | - | - | - | - |
| Heritage assets(Note 16) | B03 | - | - | - | - | - |
| Investments(Note 17) | B04 | - | - | - | - | - |
| Total fixed assets | B05 | - | - | - | - | - |
| Current assets | ||||||
| Stocks(Note 18) | B06 | - | - | - | - | - |
| Debtors(Note 19) | B07 | - | - | - | - | - |
| Investments(Note 17.4) | B08 | - | - | - | - | - |
| Cash at bank and in hand(Note 24) | B09 | 1,500 | - | - | 1,500 | - |
| Total current assets | B10 | 1,500 | - | - | 1,500 | - |
| Creditors: amounts falling due within one year(Note 20) |
B11 | - | - | - | - | - |
| Net current assets/(liabilities) | B12 | 1,500 | - | - | 1,500 | - |
| Total assets less current liabilities | B13 | 1,500 | - | - | 1,500 | - |
| Creditors: amounts falling due after one year(Note 20) |
B14 | - | - | - | - | - |
| Provisions for liabilities | B15 | - | - | - | - | - |
| Total net assets or liabilities | B16 | 1,500 | - | - | 1,500 | - |
| Funds of the Charity | ||||||
| Endowment funds (Note 27) | B17 | - | - - 1,500 - |
- | ||
| Restricted income funds (Note 27) | B18 | - | - | |||
| Unrestricted funds | B19 | 1,500 | - | - | ||
| Revaluation reserve | B20 | |||||
| Fair value reserve | B21 | |||||
| Total funds | B22 | 1,500 | - | - | 1,500 | - |
| The company was entitled to exemption from audit under s477 of the Companies Act 2006 relating to small companies. |
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| The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. |
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| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts. |
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| These accounts have been prepared in accordance with the provisions applicable to small companies subject to the smallcompanies regime and inaccordance with FRS102 SORP. |
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| Signed by one or two trustees/directors on behalf of all the trustees/directors |
Print Name | Date of approval dd/mm/yyyy |
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| Teresa C Bower | 19/06/2023 | |||||
| Signature of director authenticating accounts being sent to Companies House |
Signature | Date dd/mm/yyyy |
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| N/A | ||||||
| Print name |