REGISTERED COMPANY NUMBER:
|
REGISTERED CHARITY NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019 |
FOR |
VISIBLE FICTIONS |
REGISTERED COMPANY NUMBER:
|
REGISTERED CHARITY NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019 |
FOR |
VISIBLE FICTIONS |
VISIBLE FICTIONS |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 31 March 2019 |
|
|
|
|
|
|
|
|
|
|
Page |
|
Report of the Trustees | 1 to 6 |
|
Independent Examiner's Report | 7 |
|
Statement of Financial Activities | 8 |
|
Balance Sheet | 9 to 10 |
|
Notes to the Financial Statements | 11 to 16 |
|
VISIBLE FICTIONS (REGISTERED NUMBER: SC144133) |
REPORT OF THE TRUSTEES |
For The Year Ended 31 March 2019 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with |
the financial statements of the charity for the year ended 31 March 2019. The trustees have adopted the provisions of |
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). |
|
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
Mission Statement: |
Visible Fictions exists to thrill, delight and inspire children, young people and adults with our head-turning, |
heart-flipping, diversely-accessible artistic projects, productions and activities. |
|
Charitable Objectives: |
Place artistic excellence and experimentation at the heart of all of our work, initiating visionary creative collaborations |
that inspire and educate young people, professional artists and audiences through our work. |
Connect meaningfully with the diverse communities we serve - young people, artists, audiences, to engage an increasing |
number of diverse people through work which has accessibility at its core. |
Integrate all our activities - artistic, business, education, creative learning and audience development - to achieve |
common purpose and shared ambition. |
Be international in our outlook, proudly representing Scotland as a creative nation whilst welcoming international |
influences in our work. |
Be integral to the artistic, social, political and economic infrastructure helping individuals, organisations, companies, |
local authorities and governments achieve their aims. |
Actively develop a valued, skilled, diverse and dynamic team of people (employed, freelance and volunteer) and provide |
conditions and places of work where they and the company can flourish |
Finance the Company's work through a robustly managed 'mixed economy' of income sources attracted to the company |
by its consistent high quality and a flexible, proactive and responsive administration. |
|
|
These objectives will be monitored and achieved through the following strands of activity: |
|
Continue the creation of the stop-frame animation, 'Papergee and the Spider' - making the models, the sets, film and edit |
the piece for distribution. |
Submit 'Papergee and the Spider' to various international film and animation festivals. |
Undertake drama/story making workshops with St Charles Primary School to explore ideas for the production, 'If You |
Go Down to the Woods'. |
Create, rehearse and present the outdoor production of 'If You Go Down to the Woods' in the Children's Wood, |
Glasgow. |
Present our interactive site responsive theatre experience 'The Hidden' at the Edinburgh International Book Festival. |
Tour 'The Hidden' to libraries across Scotland and to a venue in England. |
Deliver a project in schools to enhance learning opportunities around 'The Hidden'. |
Continue the development of a clown-based theatre production 'Slug' for primary school children. |
Undertake further exploration of 'A Ladder to the Stars' outwith a formal rehearsal period. |
Rehearse and then present 'A Ladder to the Stars' at the Macrobert in Stirling for the festive season. |
Create learning resources to accompany the production of 'A Ladder to the Stars' |
Initiate creative conversations about a new technologically driven piece provisionally entitled 'Ghosthunter'. Rehearse |
'Jason and the Argonauts' with Oregon Children's Theatre, USA, readying it to be performed in the venue there. |
Develop our audience reach and engagement by use of social media and digital formats. |
Collaborate with the Royal Conservatoire of Scotland to deliver with theatre arts training modules. |
Be involved with boards, management groups, conferences and working groups throughout the year. |
Formalise support given to the theatre community. |
Support and give opportunities for individual staff and team development. |
Intentionally engage with communities from areas higher on the Scottish Index of Multiple Deprivation. |
Initiate a stronger engagement with deaf artists and communities. |
Monitor and reduce the company's carbon and emissions. |
|
VISIBLE FICTIONS (REGISTERED NUMBER: SC144133) |
REPORT OF THE TRUSTEES |
For The Year Ended 31 March 2019 |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
Visible Fictions performed to some 6101 young people and adults at home and abroad, with over 50 performances for |
audiences in theatres, schools, and on the internet. There were 180 participants actively engaged in arts related creative |
learning activity. We increased our Facebook followers by 0.4%, our Instagram followers by 29.3% and our Twitter |
followers by 10%. |
|
The following artistic activity took place: |
|
'Papergee and the Spider' by Frances Poet |
Having commissioned the script, storyboarded and created an animatic last financial year, the company created its first |
stop frame animation. This year the model making, set building, filming and final editing took place. This |
family-friendly film began its initial submission process to various international film festivals. |
|
'If You Go Down to the Woods' |
This collaboration between professional theatre artists and pupils from St Charles Primary School in Glasgow saw the |
creation and rehearsal of a participant-led production that was performed outdoors in the Children's Wood, Glasgow to |
members of the local community. |
|
'A Ladder to the Stars' by Simon Puttock, adapted by Douglas Irvine |
This production, recommended for those aged between 3-6 years, is a co-production between Visible Fictions and |
Aberdeen Performing Arts first created in 2015. This year it was invited to be presented at the Macrobert in Stirling |
during the festive season. The company took the opportunity beforehand to refine and develop ideas within the piece |
during two development periods. |
|
'The Hidden' created by Cameron Hall and Douglas Irvine |
Visible Fictions was invited to present their acclaimed site-responsive, interactive theatre experience at the Edinburgh |
International Book Festival. Presented in Edinburgh Central Library, the production engaged with teenagers and adults. |
Afterwards, it embarked upon a tour of other public libraries in across Scotland and in England. A creative learning |
programme was created and delivered in schools too. Later in the year, the production was invited to be presented at the |
Granite Noir Festival in Aberdeen. |
|
'Sunday in the Park with George' by Stephen Sondheim |
The company's Artistic Director worked with undergraduates from the Royal Conservatoire of Scotland - in the musical |
theatre performance, technical arts and stage management courses - to lead the educational process of how to stage a |
large scale, full two act theatre production. |
|
'Jason and the Argonauts' by Robert Forrest |
The company's acclaimed production was co-produced with the Oregon Children's Theatre, USA and rehearsed this year |
ready to open in their venue for a three-week run. The company was made up from US actors, Stage Managers and LX |
designer and was nominated for several theatre awards, winning one of them. |
|
|
The following development periods took place: |
|
'Slug' created by Melanie Jordan and Douglas Irvine |
Collaborating with the award-winning clown theatre artist Melanie Jordan, the company undertook further development |
work for a new theatre production for primary children. Exploring the comic relationship between an overly protective |
gardener and the slug that appears one day in a perfectly manicured garden, several artists were brought together to |
explore the idea's potential. |
|
'Fat Boy Swim' by Cathy Forde, songs by MJ McCarthy |
The company was thrilled to share the development of some of the commissioned script and songs at the Edinburgh |
International Book Festival. This new musical being created by the company, aimed at those over 7 years of age, was |
adapted by the author from her own award-winning teenage novel. |
|
|
The Company took part in the extended national and international cultural infrastructure by: |
VISIBLE FICTIONS (REGISTERED NUMBER: SC144133) |
REPORT OF THE TRUSTEES |
For The Year Ended 31 March 2019 |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
|
Providing teaching and mentoring at the Royal Conservatoire of Scotland through the services of the Company's Artistic |
Director; as part of the FST's Step-Up Programme, the Artistic Director mentored a practitioner from the theatre sector |
during the course of the year; the Artistic Director also was a member of the Management Group of the Scottish Drama |
Training Network. The Company's Producer joined the Board of Paisley Opera this year. |
|
Further to this the company hosted a number of placements throughout the year for young people in S4 at secondary |
school, students from the Royal Conservatoire of Scotland, Edinburgh College of Art, and Glasgow University. |
|
Visible Fictions has played an integral role as a partner and member of the steering group of Theatre in Schools Scotland |
- a pilot scheme between the National Theatre of Scotland, Imaginate, Catherine Wheels, Starcatchers and Visible |
Fictions - designed to bring 'world-class theatre' to primary schools. |
|
The company maintains active membership of the Federation of Scottish Theatre, the Independent Theatre Council, |
Creative Carbon Scotland, Arts and Business and the Federation of Small Businesses. |
|
|
The company also undertook the following internal developments: |
|
The company has further delivered the objectives of our Equalities, Diversity and Inclusion Action Plan. |
|
We have focussed on increasing engagement from communities high on the Scottish Index of Multiple Deprivation |
(SIMD). Amongst our participants and audiences, this year we successfully connected with 5 schools, 2 transitions |
groups (made up from vulnerable young people at risk of exclusion and/or have who been excluded from school), and 2 |
nurseries all of which are on the number 2 rating of the SIMD). These groups not only attended performances but also |
took part in creative learning workshops too. Through a successful Crowdfunder Campaign enabled schools to access |
free buses to facilitate their visit to 'The Hidden', helping them overcome barriers to engage with the production. |
|
The company's engagement with deaf communities took a stronger focus within the company's work this year. The |
company's Artistic Director and Producer both met with the BA performance in English and BSL course leader at the |
Royal Conservatoire of Scotland and as a result built a creative/artistic relationship with one of the graduates to explore |
future possibilities within our work and audience engagement. We provided a BSL interpreted performances for both |
'The Hidden' and 'A Ladder to the Stars' with direct marketing to the BSL community. For these performances, the |
constituents made up 6% of the audience. |
|
We also increased opportunities for those who self-define as Disabled and BME to be considered for employment by |
ring-fencing budgets to allow us to hold auditions out-with Scotland and/or inviting those who don't currently live here |
for interview, assisting with their travel costs. The company also invested in training for our Digital and Administration |
Officer to enable her to carry out captioning for our online material. |
|
The objectives of our Green Action Plan have also been further delivered. |
|
The company has successfully implemented the monitoring of our Carbon Footprint and this, aligned with tangible |
actions has meant that our carbon emissions for 2018-19 are around 1% lower than they would have been without our |
carbon reduction efforts. Regarding the company reducing emissions that Visible Fictions have planned for 2018-21, in |
this our first year, we have achieved a 33% reduction. |
|
We continue our connection to the Green Arts Initiative and as part of our ongoing commitment to recycling have |
successfully instigated touring recycling stations for our teams out of the office/company base. We will continue our |
missions to be as environmentally friendly as we can, building on what we have already archived by following our Green |
Action Plan. In the future which will see us switching to energy saving lamps and overhead lights in the office and |
trialling a plastic free office environment. |
|
VISIBLE FICTIONS (REGISTERED NUMBER: SC144133) |
REPORT OF THE TRUSTEES |
For The Year Ended 31 March 2019 |
FINANCIAL REVIEW |
Financial position |
Principal Funding Sources: |
The charitable company's principal funding during the period was received from Creative Scotland. The company also |
self-generated income totalling nearly 24% of the company's total income - formed by a mix of fees, ticket sales, trusts, |
foundations and philanthropic support. |
|
Financial position: |
The charitable company's reserves policy is to establish an operating reserve to cover 3 months of running costs, |
allowing the company, in the event of having to cease trading, to be able to cover all necessary administration costs. |
The company has firm plans in place to use current reserves to invest in future artistic product that will allow further |
diversification of artistic output, to include a full-scale theatre clowning piece, develop an object theatre production and |
a new piece with international cross-cultural collaboration at its heart. |
|
Reserves policy |
The charitable company's reserves policy is to establish an operating reserve to cover 6 months of running costs, |
allowing the company, in the event of having to cease trading, to be able to cover all necessary administration costs. |
|
The company plans to use reserves to invest in future artistic product that will allow further diversification of artistic |
output: namely in the making of a short film and in the creation of a short animation. |
|
FUTURE PLANS |
Future plans include: |
|
Present 'Jason and the Argonauts' at Oregon Children's Theatre in the USA. |
Collaborate with the Royal Conservatoire of Scotland to deliver actor training modules |
Present 'The Hidden' at the Devon and Exeter Institution as part of the Independent Library Associations' AGM. |
Undertake two development periods of a new theatre production inspired by 'Jekyll and Hyde' and collaborating with |
Portuguese and English-speaking artists. This will be shared at the Edinburgh International Book Festival. |
Tour 'The Hidden' across Scotland including to the Wigton Book Festival. |
Present 'A Ladder to the Stars' across Scotland to theatres, schools and community venues - in association with Theatre |
in Schools Scotland and the Puppet Animation Festival. |
Rehearse and tour 'Slug' - a clowning theatre piece - to schools and theatres across Scotland. |
Present 'Ladder to the Stars' at the Octoburst! Festival in Singapore. |
Present 'Papergee and the Spider' at the Manchester Animation Festival, England and the Smile International Film |
Festival for Children and Youth, New Delhi, India. |
Commission emerging writers to create short films on-line for the company's Digital Fictions project. |
Develop 'Up' - an object theatre production - and share it at the Manipulate Festival, Edinburgh. |
|
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The company was incorporated as a company limited by guarantee under the Companies Act 2006 and is controlled by |
its governing document, the Memorandum and Articles of Association. |
|
Recruitment and appointment of new trustees |
Visible Fictions regularly reviews the skills and experience needed on the Board in order to perform governance role |
and support the company to meet its objectives. Current skills held by the members of the Board include: Community |
Arts, Community Education, Finance, Strategy, Marketing, Social Media and General Management. |
|
The maximum number and minimum number respectively of the Directors may be determined from time to time by |
ordinary resolution. Subject to and in default of any such determination there shall be no maximum number of Directors |
and a minimum number of two. |
|
Recruitment of new Board members focusses on obtaining the necessary skills and experience. However, in order to |
ensure the make-up of the Board reflects Visible Fictions' audiences, participants and stakeholders, recruitment activities |
proactively seek people from underrepresented sectors (age, gender, ethnicity and disability) with the appropriate skills |
and experience. |
|
VISIBLE FICTIONS (REGISTERED NUMBER: SC144133) |
REPORT OF THE TRUSTEES |
For The Year Ended 31 March 2019 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Induction and training of new trustees |
The company follows an induction process for potential new Board members to ensure that the appointment is right for |
all parties and that the individual is well briefed about the company and their role and responsibilities as a Board |
member. In addition any relevant introductory training courses are readily made available. |
Visible Fictions is committed to supporting the training and development of its Board members in order to help them in |
their role as a non-executive director of a charitable arts organisation. |
The Board has developed a full Governance policy which considers all of the above in more detail. |
No directors are entitled to any remuneration, whether in respect of his/her role as a director or office holder. However, |
directors may be paid all travelling, hotel and other expenses properly incurred by them in connection with their |
attendance at meetings or otherwise in connection with the discharge of their duties. |
|
Risk management |
The Artistic Director, Douglas Irvine, is the Chief Executive Officer of Visible Fictions. The Artistic Director and |
Producer manage the day to day running the company. The Board monitors the running of the company. |
All plans, policies and procedures are discussed, amended and approved by the Board before implementation. |
Depending on the nature of the plan, policy or procedure the whole Board or particular members of the Board will be |
involved in is development. Each director has taken on responsibility to become a 'Champion' of one particular |
cross-cutting theme of the company's work. These themes are those of our principal stakeholder Creative Scotland and |
are Equalities, Diversity and Inclusion; Creative Learning; Digital and Environment, and the 'Champions' give that area |
focus and help shapes plans, policies and procedures undertaken. |
|
The company risk management strategy includes the following: |
|
The company's business plan and underpinning assumptions are reviewed and updated regularly. Each update is |
presented and approved by the directors. |
Each production has its own risk assessment which is covered by budget control systems, creative content assessment, |
financial and production management, health & safety issues and contingency assessment. |
Financial procedures, activities and risks are monitored monthly by the finance sub-committee (1 board member and two |
staff members). The findings are then presented and approved at each board meeting. |
|
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
|
|
Registered Charity number |
|
|
Registered office |
|
|
|
|
|
|
Trustees |
|
|
|
|
- appointed 22.4.19 |
|
- appointed 18.2.19 |
|
- appointed 22.4.19 |
|
VISIBLE FICTIONS (REGISTERED NUMBER: SC144133) |
REPORT OF THE TRUSTEES |
For The Year Ended 31 March 2019 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Independent examiner |
Kathleen Benham CA |
|
Chartered Accountants |
16 Royal Crescent |
Glasgow |
G3 7SL |
|
Approved by order of the board of
trustees
on
|
|
|
|
|
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
VISIBLE FICTIONS (REGISTERED NUMBER: SC144133) |
I report on the accounts for the year ended 31 March 2019 set out on pages eight to sixteen. |
|
Respective responsibilities of trustees and examiner |
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities |
and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The |
charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not |
apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether |
particular matters have come to my attention. |
|
Basis of the independent examiner's report |
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations |
2006 (as amended). An examination includes a review of the accounting records kept by the charity and a comparison of |
the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the |
accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not |
provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the |
view given by the accounts. |
|
Independent examiner's statement |
In the course of my examination, no matter has come to my attention: |
|
(1) | which gives me reasonable cause to believe that, in any material respect, the requirements |
|
- |
to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the
2006 Accounts Regulations; and |
- |
to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the
2006 Accounts Regulations |
|
have not been met; or |
|
(2) |
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts
to be reached. |
|
|
|
|
|
|
|
|
|
Kathleen Benham CA |
Benham Conway & Co |
Chartered Accountants |
16 Royal Crescent |
Glasgow |
G3 7SL |
|
|
5 December 2019 |
VISIBLE FICTIONS |
STATEMENT OF FINANCIAL ACTIVITIES |
For The Year Ended 31 March 2019 |
31.3.19 | 31.3.18 |
|
Unrestricted
funds |
Restricted
funds |
Total
funds |
Total
funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Charitable activities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment income | 2 |
|
|
|
|
Total |
|
|
|
|
|
EXPENDITURE ON |
Charitable activities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
|
|
NET INCOME/(EXPENDITURE) |
( |
) |
( |
) |
( |
) |
|
RECONCILIATION OF FUNDS |
|
Total funds brought forward |
|
|
|
|
TOTAL FUNDS CARRIED FORWARD |
|
|
|
310,653 |
VISIBLE FICTIONS (REGISTERED NUMBER: SC144133) |
BALANCE SHEET |
At 31 March 2019 |
31.3.19 | 31.3.18 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 7 |
|
|
|
CURRENT ASSETS |
Debtors | 8 |
|
|
Cash at bank |
|
|
|
|
|
CREDITORS |
Amounts falling due within one year | 9 |
( |
) |
( |
) |
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
NET ASSETS |
|
|
FUNDS | 11 |
Unrestricted funds | 308,506 | 310,100 |
Restricted funds |
|
553 |
TOTAL FUNDS |
|
310,653 |
VISIBLE FICTIONS (REGISTERED NUMBER: SC144133) |
BALANCE SHEET - CONTINUED |
At 31 March 2019 |
The charitable company is entitled to exemption from audit under |
Section 477 of the Companies Act 2006 for the year ended 31 March 2019. |
|
The members have not required the company to obtain an audit of its financial statements for the year ended |
31 March 2019 in accordance with Section 476 of the Companies Act 2006. |
|
The trustees acknowledge their responsibilities for |
(a) |
ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the
Companies Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the charitable company as
at the end of each financial year and of its surplus or deficit 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 charitable company. |
|
These financial statements have been prepared in accordance with the provisions applicable to charitable companies |
subject to the small companies regime. |
|
The financial statements were approved by
the Board of
Trustees
on
|
|
|
|
|
|
VISIBLE FICTIONS |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 31 March 2019 |
1. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been |
prepared in accordance with the Charities SORP (FRS 102) '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)', |
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of |
Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost |
convention. |
|
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it |
is probable that the income will be received and the amount can be measured reliably. |
|
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the |
charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and |
the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has |
been classified under headings that aggregate all cost related to the category. Where costs cannot be directly |
attributed to particular headings they have been allocated to activities on a basis consistent with the use of |
resources. |
|
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value |
of each asset over its estimated useful life. |
|
Plant and machinery |
|
|
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
|
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
|
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions |
arise when specified by the donor or when funds are raised for particular restricted purposes. |
|
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
|
2. | INVESTMENT INCOME |
|
31.3.19 | 31.3.18 |
£ | £ |
Bank interest | 296 | 62 |
|
3. | NET INCOME/(EXPENDITURE) |
|
Net income/(expenditure) is stated after charging/(crediting): |
|
31.3.19 | 31.3.18 |
£ | £ |
Accountancy fees | 7,244 | 10,250 |
Depreciation - owned assets |
|
|
|
VISIBLE FICTIONS |
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED |
For The Year Ended 31 March 2019 |
4. | TRUSTEES' REMUNERATION AND BENEFITS |
|
There were no trustees' remuneration or other benefits for the year ended 31 March 2019 nor for the year ended |
31 March 2018 . |
|
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 March 2019 nor for the year ended 31 March 2018 . |
|
5. | STAFF COSTS |
|
31.3.19 | 31.3.18 |
£ | £ |
Wages and salaries |
|
|
|
The average monthly number of employees during the year was as follows: |
|
31.3.19 | 31.3.18 |
4 | 4 |
|
No employees received emoluments in excess of £60,000. |
|
6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
|
|
Unrestricted
funds |
Restricted
funds |
Total
funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Charitable activities |
|
|
|
|
|
|
|
|
|
|
|
|
Investment income |
|
|
|
Total |
|
|
|
|
EXPENDITURE ON |
Charitable activities |
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
|
NET INCOME/(EXPENDITURE) |
|
( |
) |
|
VISIBLE FICTIONS |
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED |
For The Year Ended 31 March 2019 |
6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
|
Unrestricted
funds |
Restricted
funds |
Total
funds |
£ | £ | £ |
RECONCILIATION OF FUNDS |
|
Total funds brought forward | 289,373 | 881 | 290,254 |
TOTAL FUNDS CARRIED FORWARD | 310,100 | 553 | 310,653 |
|
7. | TANGIBLE FIXED ASSETS |
|
Plant and
machinery |
£ |
COST |
At 1 April 2018 and 31 March 2019 |
|
DEPRECIATION |
At 1 April 2018 |
|
Charge for year |
|
At 31 March 2019 |
|
NET BOOK VALUE |
At 31 March 2019 |
|
At 31 March 2018 |
|
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
31.3.19 | 31.3.18 |
£ | £ |
Trade debtors |
|
|
Other debtors |
|
|
|
|
|
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
31.3.19 | 31.3.18 |
£ | £ |
Social security and other taxes |
|
|
Other creditors |
|
|
|
|
|
VISIBLE FICTIONS |
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED |
For The Year Ended 31 March 2019 |
10. | ANALYSIS OF NET ASSETS BETWEEN FUNDS |
|
31.3.19 | 31.3.18 |
|
Unrestricted
funds |
Restricted
funds |
Total
funds |
Total
funds |
£ | £ | £ | £ |
Fixed assets | 2,441 | - | 2,441 | 3,256 |
Current assets | 335,442 | 225 |
|
|
Current liabilities |
( |
) |
|
( |
) |
( |
) |
308,506 | 225 | 308,731 | 310,653 |
11. | MOVEMENT IN FUNDS |
|
|
At 1.4.18 |
Net
movement in funds |
Transfers
between funds |
At 31.3.19 |
£ | £ | £ | £ |
Unrestricted funds |
General Fund | 310,100 | (1,594 | ) | (180,000 | ) | 128,506 |
Contingency Fund | - | - | 180,000 | 180,000 |
|
(1,594 | ) |
|
|
|
Restricted funds |
Capital Fund | 553 | (328 | ) | - | 225 |
|
TOTAL FUNDS |
|
(1,922 | ) |
|
308,731 |
|
Net movement in funds, included in the above are as follows: |
|
Incoming
resources |
Resources
expended |
Movement in
funds |
£ | £ | £ |
Unrestricted funds |
General Fund | 289,454 | (291,048 | ) | (1,594 | ) |
|
Restricted funds |
Capital Fund | - | (328 | ) | (328 | ) |
|
TOTAL FUNDS |
|
( |
) | (1,922 | ) |
|
VISIBLE FICTIONS |
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED |
For The Year Ended 31 March 2019 |
11. | MOVEMENT IN FUNDS - continued |
|
|
Comparatives for movement in funds |
|
At 1.4.17 |
Net
movement in funds |
At 31.3.18 |
£ | £ | £ |
|
Unrestricted Funds |
General Fund | 289,373 | 20,727 | 310,100 |
|
Restricted Funds |
Capital Fund | 881 | (328 | ) | 553 |
|
TOTAL FUNDS | 290,254 | 20,399 | 310,653 |
Comparative net movement in funds, included in the above are as follows: |
|
Incoming
resources |
Resources
expended |
Movement in
funds |
£ | £ | £ |
Unrestricted funds |
General Fund | 289,105 | (268,378 | ) | 20,727 |
|
Restricted funds |
Capital Fund | - | (328 | ) | (328 | ) |
|
TOTAL FUNDS | 289,105 | (268,706 | ) | 20,399 |
|
A current year 12 months and prior year 12 months combined position is as follows: |
|
|
At 1.4.17 |
Net
movement in funds |
Transfers
between funds |
At 31.3.19 |
£ | £ | £ | £ |
Unrestricted funds |
General Fund | 289,373 | 19,133 | (180,000 | ) | 128,506 |
Contingency Fund | - | - | 180,000 | 180,000 |
|
Restricted funds |
Capital Fund | 881 | (656 | ) | - | 225 |
TOTAL FUNDS | 290,254 | 18,477 | - | 308,731 |
|
VISIBLE FICTIONS |
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED |
For The Year Ended 31 March 2019 |
11. | MOVEMENT IN FUNDS - continued |
|
|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
|
Incoming
resources |
Resources
expended |
Movement in
funds |
£ | £ | £ |
Unrestricted funds |
General Fund | 578,559 | (559,426 | ) | 19,133 |
|
Restricted funds |
Capital Fund | - | (656 | ) | (656 | ) |
TOTAL FUNDS | 578,559 | (560,082 | ) | 18,477 |
Transfers between funds |
The Board have designated funds to be held in a Contingency Fund. |
|
The Contingency Fund represents the level of reserves the trustees consider are required to bridge any potential |
funding gaps between spending and receiving resources and consider this should represent six months operating |
costs. |
|
12. | RELATED PARTY DISCLOSURES |
|
There were no related party transactions for the year ended 31 March 2019. |
|