Charity number SC047792
The Polar bears SCIO
REPORTS AND ACCOUNTS
31 OCTOBER 2024
Contents
Report to the Trustees for the Year Ended 31 October 2024 ............................................... 2 The Polar Bears SCIO Charity Statement of Financial Activities 31 October 2024 ........... 6 The Polar Bears SCIO Balance Sheet 31 October 2024 ...................................................... 7 Notes to The Financial Statement at 31 October 2024 ........................................................ 8
Report to the Trustees for the Year Ended 31 October 2024
The trustees are pleased to present their annual report together with the consolidated financial statements of the charity for the year ending 31 October 2024
The financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), the Memorandum and Articles of Association, and 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).
Note the Trustees have not received any compensation for carrying out their duties as trustees.
Our Purpose and Activities
The charitable purposes of the Charity are
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To advance the arts and culture, particularly by creating high quality professional performances for children.
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To advance education in the arts, through creativity-based educational workshops.
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To promote equality and diversity through the arts.
Plans for future Periods
The amended constitution reflecting the new name will be submitted to OSCR along with the Trustees approval as signed by .
Social media will be changed to reflect the new name of the charity and a new website encompassing the charity’s previous work will be constructed.
Plans are underway to adapt a children’s book, The Runaway Pea, with a view to making and touring the production in 2026/27.
Activities, Achievements and performance
The main activities of the charity were:
Touring in China
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The Polar Bears Go Up performed a two week run in November 2023 in Suzhou, via our promoter, the Art Space for Kids (ASK)
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Undergoing a period of organisational development, identifying aims, artistic ideas and purpose.
It has been identified that the name of the charity has proved to be a barrier for the core creative team, in all productions being “The Polar Bears” and that changing the name so that all creative endeavours can be undertaken under this organisation would allow for greater creative freedom.
The name Bear Hug has been chosen, as a connection to the previous name and activity of the charity. The change has been requested and approved with OSCR.
FINANCIAL REVIEW
Going concern
At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate
resources to continue in operational existence for at least the next twelve months. Thus the trustees continue to
adopt the going concern basis of accounting in preparing the accounts.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity is a Scottish Charitable Incorporated Organisation
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number SC047792
Registered office
Studio F43, Out of the Blue,
36 Dalmeny Street Edinburgh EH6 8RG
Contact telephone number
07947 259 868
info@thepolarbears.org
Website
thepolarbears.org
Social media
instagram.com/polarbearstheatre twitter.com/polarbearsgoup facebook.com/PolarBearsTheatre
Trustees
Independent examiner
Lacey Accounting
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The Polar Bears SCIO Charity Statement of Financial Activities 31 October 2024
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The Polar Bears SCIO Balance Sheet 31 October 2024
The trustees have prepared group accounts in accordance with section 44 of the Charities and Trustee Investment (Scotland) Act 2005.
These accounts are for circulation to members of the company.
The notes at pages 16 to 32 form part of these accounts
Signed 04/07/25 Name
Chair of trustees on behalf of the trustees Approved by the trustees on
Notes to The Financial Statement at 31 October 2024
1. Accounting Policies
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
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a) Basis of preparation The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). Arts Theatre Trust 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).
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b) Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably. Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
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c) Fund accounting Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the Trust’s work or for specific artistic projects being undertaken by the Trust.
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d) Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
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e) Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
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f) Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
| 2 Income 0 Total Income from Grants 3 Income Box officeincome Fees Royaltyincome Total Income from operating Activities 4 Creative andProductionFees StaffTraining Travel-National Royalties TotalExpenditure on CharitableActivities 5 Audit&Accountancyfees Storage IT Software and Consumables GeneralExpenses TotalExpenditure on OperatingActivities |
Unrestricted £ Restricted £ Total 2024 £ Total 2023 £7,262.00 |
|---|---|
| £ £ £ £7,262.00 Unrestricted Restricted Total 2024 Total 2023 £ £ £ £ 117.32 £ 4,300.00£ £4,300.00 £8,850.00 £ £ £ £ 65.86 |
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| £ 4,300.00£ £ 4,300.00 £ 9,033.18 Unrestricted Restricted Total 2024 Total2023 £ 2,150.00£ £ 2,150.00 £ 4,740.00 £ 68.00£ £ 68.00 £ 81.32 £ 36.70£ £ 36.70 £ 227.60 £ £ 90.00 £ 90.00 £ 2,122.97 £ 2,254.70£ 90.00£ 2,344.70 £ 7,171.89 Unrestricted Restricted Total2024 Total 2023 £ 595.00 £ £ 595.00 £ 552.50 £1,500.00£ £1,500.00 £ 1,560.00 £ 106.00 £ £ 106.00 £ 112.00 £ 55.00£ £ 55.00 £1,833.76 £ 2,256.00 £ £ 2,256.00 £ 4,058.26 |
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