## **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
**----- End of picture text -----**
|**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
**----- End of picture text -----**
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