REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 30 November 2022 |
for |
THE DELIGHT MAKERS FOUNDATION |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 30 November 2022 |
for |
THE DELIGHT MAKERS FOUNDATION |
THE DELIGHT MAKERS FOUNDATION |
Contents of the Financial Statements |
for the Year Ended 30 November 2022 |
Page |
Report of the Trustees | 1 | to | 3 |
Statement of Financial Activities | 4 |
Balance Sheet | 5 | to | 6 |
Notes to the Financial Statements | 7 | to | 11 |
THE DELIGHT MAKERS FOUNDATION (REGISTERED NUMBER: 07107304) |
Report of the Trustees |
for the Year Ended 30 November 2022 |
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 30 November 2022. 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 2019). |
OBJECTIVES AND ACTIVITIES |
Objectives, aims and public benefit |
The Charity's objects are: |
To advance the education of the public in particular, but not limited to, the subjects of human consciousness, wisdom, peace and enlightenment; |
To advance the arts, culture and heritage for the public benefit; |
To relieve those in need in particular through the use of self awareness techniques; |
To advance in life, educate and to relieve the needs of young people in particular but not limited to the provision of support and activities which develop their skills capacities and capabilities and which should enable them to participate in society as mature and responsible individuals; |
To promote for the benefit of the public of the conservation protection and improvement of the physical and natural environment; and |
To promote such other charitable purposes (charitable under English law) as the Trustees see fit from time to time. |
Significant activities |
The charity's most significant current activity is the ownership of the Sgt Peppers Gypsy Caravan (previously owned by John Lennon) - the overarching plan is to fund raise, restore the caravan and film the process, tour with the caravan and fund projects promoting peace. |
The caravan is being restored by Dove Tale Joint Limited, a company which is under common control. In prior years, the charity prepared for the caravan restoration to commence, inspecting the caravan in the restoration base, and, excitingly, discovering that the original designs of the 1967 creation are evident beneath the paintwork applied in the 1980s. The wood has all undergone extensive pest prevention treatment and jigs have been built so that each of the pieces could be put into position and pattern boards could be built. Pattern boards enable the construction of replacement pieces for the missing or irreparably damaged parts. The original wood pieces have been brought in to condition for restoration through a heat and humidity controlled environment. Analysis of the components of the caravan was carried out to establish the various eras of its evolution from the 1900s, 1960s and 1980s. We sourced specialist woods, such as antique pitch pine, for the replacement parts and these were 'put to stick' to acclimatise them to match and integrate with the original woods. |
Research undertaken led, amazingly, to the discovery of the original 1900s Thomas of Chertsey workshop and artisans that made the original caravan. We had custom tools made to replicate the patterns and fault lines in the original construction of the caravan. The caravan is now a bit like a flat pack system, with replacement pieces made and original pieces treated, so that they can be reintegrated through a jig. Work to make the replacement pieces, and pieces to be fused to the original pieces began. With the custom made tools this has allowed the replacement pieces of the caravan to be created in perfect alignment and with energy lines matching the original parts of the caravan. There are hundreds of pieces involved! |
Both restoration and filming of the restoration began in the 2019 period. During the most recent phase of the restoration new information came to light which require further research and consultation, which is currently underway. |
The search continues for possible partners and projects to support once the caravan restoration is complete and touring begins. |
THE DELIGHT MAKERS FOUNDATION (REGISTERED NUMBER: 07107304) |
Report of the Trustees |
for the Year Ended 30 November 2022 |
OBJECTIVES AND ACTIVITIES |
Public benefit |
The trustees have given due regard to guidance published on public benefit, and consider that the charity's objects include objectives for the public benefit. Further consideration is given to this below. |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
The charity became the legal owners of the Sgt Peppers Gypsy Caravan (previously owned by John Lennon) in June 2014. With the authentication, provenance and ownership confirmed the charity is now in the position of being able to commit to the development of the Peacing Together project which will not just restore this unique cultural icon, but transform it into a catalyst and totem for a message of peace. |
The Peacing Together project is the restoration and documentary of John Lennon's Sgt Peppers Caravan for a number of peace initiatives. The potential of this project is significant in its range of possible mediums to reach out to the public. The initial investigation into the Beatles market alone suggests a potential reach to many millions of people and so careful planning and consideration of partners has been needed to ensure that the caravan is preserved and protected as a unique and special asset, and to further establish strong commercial partnerships that can help the charity to develop the beautiful projects through which the public can enjoy and interact with the caravan. |
The whole of 2017 was spent trying to find the right investment for the restoration and the documentary film. A number of offers were received and the Trustees went quite a long way down the line with a number of potential venture capitalists in terms of contract negotiations. In the end, the Trustees decided not to go with any of the deals as potentially no funds would have been generated for the charity. The decision was made to try and self fund the restoration. The Delight Makers Limited (DML, a company owned by Ms Koshare-Edouardes) began acting as the fundraiser and financier for the film, raising seed funding through a special purpose vehicle film company, Dove Tale Joint Limited (DTJ, also a company owed by Ms Koshare-Edouardes). This approach will provide the charity with greater control of the film. |
DML's plan is to generate sponsorship, which will go towards the restoration of the caravan, make the film and get the caravan on the road for its tour. Included within the sponsorship is some very special handmade jewellery - waste fragments were taken from the caravan restoration and set in to jewellery. This is the Piece Keeper Collection. Sales of the collection have showed promising signs of both revenue generation and overall interest in Beatles memorabilia for the fourth year in a row. The restoration work is being undertaken and filmed by DTJ. |
The charity was originally set up to complete two main projects - the vision of Peacing Together and Bedtime Stories. The latter was a project put on hold to take on the caravan, with the idea being that the caravan would be restored and sold to generate funds for the project. However, when we traced the story of the caravan we discovered that its origins were in bedtime stories; John Lennon's favourite childhood story was Wind in the Willows. This was a real 'goosebumps' moment for the Trustees; the link couldn't have felt more magical. Also, we noted an interview that John Lennon gave in 1972, in which he said that when he was older he wanted to write children's bedtime stories, a dream stolen from him, but one that we felt we could now pick up the torch for. So Bedtime Stories fits perfectly into the caravan project, it becoming a literal vehicle for a better world story; we envisage that we can invite storytellers to come and tell stories, sing songs, read poetry from the caravan. The Bedtime Stories project was relaunched now the caravan restoration is underway. |
The Peacing Together project continues to be in motion, the charity has begun researching potential charity partners and developing the outline for the first project. The concept in development is a collaboration book by writers of mixed abilities, from school children to professionals, to 'Piece Together' a book, or possibly a collection of books. It is thoughts the book(s) will contain short stories, songs and poetry in the style of John Lennon and The Beatles, the content of which will relate to the caravan's inspiration and origin. |
FINANCIAL REVIEW |
Reserves policy |
The Trustees should reserve enough to meet 6 months overhead expenditures (which are very low) and ensure that each project is fully funded. |
THE DELIGHT MAKERS FOUNDATION (REGISTERED NUMBER: 07107304) |
Report of the Trustees |
for the Year Ended 30 November 2022 |
FINANCIAL REVIEW |
Going concern |
The charity's operations are currently funded by trustees and other companies under common control. The trustee S K Edouardes has confirmed that the trustees and companies under common control will continue to support the charity to enable it to meet its liabilities as and when they fall due. For that reason the accounts have been prepared on a going concern basis. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
Recruitment, appointment, induction and training of new trustees |
Where new trustees are required, the relevant skills necessary would be considered and the appropriate person approached from the existing trustees' network of contacts. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. |
Approved by order of the board of trustees on |
THE DELIGHT MAKERS FOUNDATION |
Statement of Financial Activities |
(Incorporating an Income and Expenditure Account) |
for the Year Ended 30 November 2022 |
30.11.22 | 30.11.21 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
EXPENDITURE ON |
Charitable activities | 3 |
Peacing together | 3,210 | 3,205 |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 371,427 |
THE DELIGHT MAKERS FOUNDATION (REGISTERED NUMBER: 07107304) |
Balance Sheet |
30 November 2022 |
30.11.22 | 30.11.21 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
FIXED ASSETS |
Heritage assets | 8 |
CURRENT ASSETS |
Debtors | 9 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 10 | ( |
) | ( |
) |
NET CURRENT ASSETS | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 11 |
Unrestricted funds | 371,427 |
TOTAL FUNDS | 371,427 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2022. |
The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2022 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. |
THE DELIGHT MAKERS FOUNDATION (REGISTERED NUMBER: 07107304) |
Balance Sheet - continued |
30 November 2022 |
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 and authorised for issue on |
THE DELIGHT MAKERS FOUNDATION |
Notes to the Financial Statements |
for the Year Ended 30 November 2022 |
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 2019)', 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. |
The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland': |
• | the requirements of Section 7 Statement of Cash Flows. |
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. |
Expenditure - other |
These are costs attributable to the management of the charity's assets, organisational administration and compliance with constitutional and statutory requirements. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Plant and machinery | - |
Heritage assets |
Heritage assets are not depreciated. An annual impairment review is carried out. |
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. |
Going concern |
The charity's operations are currently funded by trustees and other companies under common control. The trustee S K Edouardes has confirmed that the trustees and companies under common control will continue to support the charity to enable it to meet its liabilities as and when they fall due. For that reason the accounts have been prepared on a going concern basis. |
THE DELIGHT MAKERS FOUNDATION |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2022 |
2. | DONATIONS AND LEGACIES |
30.11.22 | 30.11.21 |
£ | £ |
Donations |
3. | CHARITABLE ACTIVITIES COSTS |
Support |
costs (see |
note 4) |
£ |
Peacing together | 3,210 |
4. | SUPPORT COSTS |
Governance |
Management | Finance | costs | Totals |
£ | £ | £ | £ |
Peacing together | 98 | 2,000 | 1,112 | 3,210 |
5. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 30 November 2022 nor for the year ended 30 November 2021. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 30 November 2022 (2021: one trustee incurred expenses amounting to £863 on behalf of the charity but was not reimbursed). |
6. | EMPLOYEES |
The average number of employees in the year was NIL (2021: NIL). |
7. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
£ |
COST |
At 1 December 2021 and 30 November 2022 |
DEPRECIATION |
At 1 December 2021 and 30 November 2022 |
NET BOOK VALUE |
At 30 November 2022 |
At 30 November 2021 |
THE DELIGHT MAKERS FOUNDATION |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2022 |
8. | HERITAGE ASSETS |
Total |
£ |
MARKET VALUE |
At 1 December 2021 and 30 November 2022 |
400,000 |
NET BOOK VALUE |
At 30 November 2022 |
At 30 November 2021 |
The heritage asset represents Sgt Pepper's Gypsy Caravan which was donated to the charity in 2014. The caravan is in need of extensive and highly specialised restoration. The valuation was made conservatively and based on guidance from an industry body. The restoration process is currently underway - as detailed in the trustees' report, the restoration will be filmed for a documentary. It is envisaged that the restoration will take at least another 18 months though it is impossible to quantify this accurately. There is currently no public access to the caravan as it will be kept under wraps until the film is complete and released. |
The caravan was previously included in the accounts at valuation, as valued with guidance from an industry body. On transition to FRS 102, this previous GAAP revaluation has been treated as the asset's deemed cost. |
The trustees have carried out an impairment review at the balance sheet date and consider that there has been no physical deterioration or breakage, and there is no doubt over the asset's authenticity. |
9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.22 | 30.11.21 |
£ | £ |
Loan to Dove Tale Joint Ltd | 2,515 | 2,460 |
10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.22 | 30.11.21 |
£ | £ |
Trade creditors |
Other creditors |
Trustee's expenses | 6,984 | 6,984 |
Accrued expenses |
THE DELIGHT MAKERS FOUNDATION |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2022 |
11. | MOVEMENT IN FUNDS |
Net |
At | movement | At |
1.12.21 | in funds | 30.11.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 371,427 | (3,125 | ) | 368,302 |
TOTAL FUNDS | (3,125 | ) | 368,302 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 85 | (3,210 | ) | (3,125 | ) |
TOTAL FUNDS | ( |
) | (3,125 | ) |
Comparatives for movement in funds |
Net |
At | movement | At |
1.12.20 | in funds | 30.11.21 |
£ | £ | £ |
Unrestricted funds |
General fund | 374,504 | (3,077 | ) | 371,427 |
TOTAL FUNDS | 374,504 | (3,077 | ) | 371,427 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 128 | (3,205 | ) | (3,077 | ) |
TOTAL FUNDS | 128 | (3,205 | ) | (3,077 | ) |
THE DELIGHT MAKERS FOUNDATION |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2022 |
12. | RELATED PARTY DISCLOSURES |
At the year end, the charitable company owed The Delight Makers Limited £5,047 (2021: £4,368), and was owed £2,515 (2021: £2,460) by Dove Tale Joint Limited. All three companies are under common control. |