Trustees’ Annual Report for the period
From 01/10/22 Period start date To 30/09/23 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 |
The Somerscience festival was held successfully on 1stMay 2023. The work of the charity in the year was focussed around organising the programme and content, attracting funding, developing the promotional and communications campaign to ensure the festival’s success, developing a safe event management plan and handling the logistics of mounting the festival across 12 venues before the festival; supervising and troubleshooting on the day of the festival; and evaluation of the festival against our charity objectives and the various objectives of grant funders, preparing written reports on such, as appropriate. |
| 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 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
Achievements and Performance
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SORP reference
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| Achievements and Performance | Achievements and Performance | 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 | The festival attracted 4802 visitors, with 178 STEM professionals from 55 different organisations participating and 80 volunteers officiating on the day. The festival demonstrated that there was a great appetite for engaging with STEM in South Somerset and proved to be an effective vehicle for outreach in a neglected area. From registration data, intercept and online survey, feedback walls, social media and email feedback, we have been able to establish that over 14,500 meaningful engagements between the STEM world and the Somerset public took place at the festival - 94% of visitors to the festival felt it gave them a better understanding of STEM, 87% a better understanding of STEM careers and 98.8% of visitors reported positive or very positive attitudes towards STEM after the festival, up from 77% prior. Qualitative feedback was overwhelmingly positive with word-cloud analysis highlighting “interesting”, “Informative”, “fun”, “engaging”, “fascinating”, “intriguing” and “educational” as most often used words to describe the festival experience. Strong relationships have been formed with our contributing organisations, and channels who promoted the festivals such as the Education Business Partnership, Somerset tourism portal, SW Careers Hub, STEM professional organisations, STEM Ambassadors and Town and County Councils and the volunteer network who collectively contributed over 2500 hours of free time and expertise. Thus the festival provided a focal point for both STEM professional and local resident community cohesion. |
Additional information (optional) You may choose to include further statements where relevant about:
| Achievements against objectives set |
Para 1.41 | Three of our objectives were fully met: afford a minimum of 5000 engagements by young people from South Somerset (we tallied at least 14,500 engagements); recruit at least 50 contributing organisations and 100 discrete activities (we had 55 organisations with 85 billed activities of which many were multi-faceted so easily exceeding the 100 aimed for); establish in year 1 a baseline of visitor numbers and profile from which to build year on year. There were two further objectives which we deemed partially met: achieve a quality experience for participants and visitors (although 100% of participants were happy with the quality and number of interactions they had had and the level of engagement with the audience, and 85% of visitors would recommend the festival to their network, there were some minor issues reported regarding the availability of enough food outlets, toilet facilities and the free shuttle bus timetable, all of which will be addressed by changes to the next festival’s setting); and effect positive change on attitudes towards STEM and STEM careers from visitors leading eventually to an increase in STEM uptake (whilst initial feedback was positive, only time will tell as regards outcomes linked to attainment and destinations for young people). |
|---|---|---|
| Performance of fundraising activities against objectives set |
Para 1.41 | We aimed to raise sufficient funds to cover the cost of the festival being free to all visitors and participants. Effective financial management and negotiation, as well as our success at achieving goodwill, grants and sponsorships, has meant that we ended the year with a budget surplus which provides the basis for confidence that we can fund next year’s festival and so have a sustainable event. |
| Investment performance against objectives |
Para 1.41 | |
| Other |
Financial Review
| 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 30/09/23, 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 the year ending 30/09/23, the trustees of The Somerscience Trust found that the financial performance and compliance were in line with expectations. |
| 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 | £11,409.76 |
| Reasons for holding zero reserves |
Para 1.22 | N/A |
| Details of fund materially in deficit |
Para 1.24 | None |
| Explanation of any uncertainties about the charity continuing as a going concern |
Para 1.23 | The Charity will need to continue to raise grant income to meet the costs of running the festival. We are confident we can achieve this as we now have a one year (and successful) track record. |
| Additional information (optional) You may choose to include further statements |
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 | Grant income from trusts and foundations. Corporate Sponsorship of the Somerscience event. |
| Investment policy and objectives including any social investment policy adopted |
Para 1.46 | We have limited reserves each year and therefore we keep these in a savings account. At present there is no need to have a social investment policy. |
| A description of the principal risks facing the charity |
Para 1.46 | The Principal risk is the inability to raise sufficient funds to run the Somerscience event. We also have a key person risk: Colleen Bower, who is the founder of the Somerscience festival, is integral to the success of the event; however she has built up a team around her to mitigate this risk. |
| 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 | CIO |
| 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 Para 1.51 training of trustees The charity’s organisational structure and any wider Para 1.51 network with which the charity works Relationship with any related Para 1.51 parties Other
Reference and Administrative details
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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
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Names of the charity trustees who manage the charity
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Name of person (or body)
Dates acted if not for
Trustee name Office (if any) entitled to appoint trustee (if
whole year
any)
Teresa Colleen Chair
1
Bower
2 Simon Connell Treasurer
3 Chris Budd Safeguarding Lead
4 Gavin Costigan
5 Alan Champneys
6 Wendy Adams
7 Lucy Smith
8
9
10
11
12
13
14
15
16
17
18
19
20
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– 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)
N/A
Exemptions from disclosure
Reason for non-disclosure of key personnel details
N/A
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) Teresa Colleen Bower Position (eg Secretary, Chair Chair, etc) Date 26/11/2023
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The Somerscience Trust Charity No 1198113
Company No CE028489
Receipts and payments accounts CC16a
For the period 01/10/2022 30/09/2023
To
from
Section A Receipts and payments
Unrestricted Restricted Endowment
Total funds Last year
funds funds funds
to the nearest £ to the nearest £ to the nearest £ to the nearest £ to the nearest £
A1 Receipts
Charitable Activities 400 2,000 - 2,400 -
Corporate Donations 500 - - 500
Grants 5,150 25,000 - 30,150 -
Sponsorship 990 4,950 - 5,940 2,000
- - - - -
- - - - -
- - - - -
- - - - -
Sub total (Gross income for
AR) [ 7,040 ] 31,950 - 38,990 2,000
A2 Asset and investment sales,
(see table).
- - - -
- - - - -
Sub total - - - - -
Total receipts 7,040 31,950 - 38,990 2,000
A3 Payments
Charitable Activities 1,890 21,611 - 23,501 500
Separate Material Expense Items 7,743 - - 7,743 -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
Sub total [ 9,633 ] 21,611 - 31,243 500
A4 Asset and investment
purchases, (see table)
- - - -
- - - -
Sub total [ - ] - - - -
Total payments 9,633 21,611 - 31,243 500
Net of receipts/(payments) - 2,593 10,339 - 7,747 1,500
A5 Transfers between funds - - - - -
A6 Cash funds last year end 1,500 - - 1,500 -
Cash funds this year end - 1,093 10,339 - 9,247 1,500
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CCXX R1 accounts (SS)
28/11/2023
1
| Section B Statement of assets and liabilities at | Section B Statement of assets and liabilities at | the end of the period | |
|---|---|---|---|
| Categories Signed by one or two trustees on behalf of all the trustees B5 Liabilities B3 Investment assets B2 Other monetary assets B4 Assets retained for the charity’s own use B1 Cash funds |
Details Details Total cash funds (agree balances with receipts and payments account(s)) Prepayments Cash at bank and in hand Details Details Details Deferred Income Accruals Signature |
Unrestricted funds Restricted funds to nearest £ to nearest £ - 1,093 10,339 - - - - 1,093 10,339 OK OK Unrestricted funds Restricted funds to nearest £ to nearest £ 273 1,890 - - - - - - - - - - Fund to which asset belongs Cost (optional) - - - - - Fund to which asset belongs Cost (optional) - - - - - - - - - Fund to which liability relates Amount due (optional) Restricted 500 Unrestricted 540 - - - Print Name |
Endowment funds to nearest £ - - - |
| - | |||
| OK | |||
| Endowment funds to nearest £ - - - - - - Current value (optional) - - - - - Current value (optional) - - - - - - - - - When due (optional) Date of approval |
CCXX R2 accounts (SS)
28/11/2023
2