TRIGGER STUFF C.I.C.

Company Registration Number:
SC395174 (Scotland)

Unaudited statutory accounts for the year ended 31 March 2023

Period of accounts

Start date: 1 April 2022

End date: 31 March 2023

TRIGGER STUFF C.I.C.

Contents of the Financial Statements

for the Period Ended 31 March 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

TRIGGER STUFF C.I.C.

Directors' report period ended 31 March 2023

The directors present their report with the financial statements of the company for the period ended 31 March 2023

Additional information

In preparing this report, the Directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.



Directors

The directors shown below have held office during the whole of the period from
1 April 2022 to 31 March 2023

Hannah Slimmon
Jonathan Peacock
Catrin Owen
Adedotun Adekunle
Jazlyn Pinckney
Rhys Mathews


The director shown below has held office during the period of
1 April 2022 to 18 November 2022

Adam Coleman


The director shown below has held office during the period of
1 April 2022 to 23 June 2022

Lucy Hunt


The director shown below has held office during the period of
31 March 2023 to 31 March 2023

Skinder Hundal


The director shown below has held office during the period of
1 February 2023 to 31 March 2023

Sharon Mitcheson


The director shown below has held office during the period of
1 December 2022 to 31 March 2023

Mandy Precious


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
18 December 2023

And signed on behalf of the board by:
Name: Hannah Slimmon
Status: Director

TRIGGER STUFF C.I.C.

Profit And Loss Account

for the Period Ended 31 March 2023

2023 2022


£

£
Turnover: 5,013,327 1,991,527
Cost of sales: ( 4,016,220 ) ( 1,100,234 )
Gross profit(or loss): 997,107 891,293
Distribution costs: 0 0
Administrative expenses: ( 806,245 ) ( 610,727 )
Other operating income: 11,671 9,518
Operating profit(or loss): 202,533 290,084
Interest receivable and similar income: 296 15
Profit(or loss) before tax: 202,829 290,099
Profit(or loss) for the financial year: 202,829 290,099

TRIGGER STUFF C.I.C.

Balance sheet

As at 31 March 2023

Notes 2023 2022


£

£
Current assets
Debtors: 3 27,556 155,488
Cash at bank and in hand: 385,974 1,195,004
Total current assets: 413,530 1,350,492
Creditors: amounts falling due within one year: 4 ( 126,002 ) ( 1,042,853 )
Net current assets (liabilities): 287,528 307,639
Total assets less current liabilities: 287,528 307,639
Total net assets (liabilities): 287,528 307,639
Capital and reserves
Called up share capital: 101 101
Profit and loss account: 287,427 307,538
Total Shareholders' funds: 287,528 307,639

The notes form part of these financial statements

TRIGGER STUFF C.I.C.

Balance sheet statements

For the year ending 31 March 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 18 December 2023
and signed on behalf of the board by:

Name: Hannah Slimmon
Status: Director

The notes form part of these financial statements

TRIGGER STUFF C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    RevenueRevenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:Sale of goodsRevenue from the sale of goods is recognised when all of the following conditions are satisfied the Company has transferred the significant risks and rewards of ownership to the buyer;the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;the amount of revenue can be measured reliably;it is probable that the Company will receive the consideration due under the transaction; andthe costs incurred or to be incurred in respect of the transaction can be measured reliably.Rendering of servicesRevenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfiedthe amount of revenue can be measured reliably;it is probable that the Company will receive the consideration due under the contract; the stage of completion of the contract at the end of the reporting period can be measured reliably; andthe costs incurred and the costs to complete the contract can be measured reliably.2.4 Government grantsGrants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.2.5 Interest incomeInterest income is recognised in profit or loss using the effective interest method.

    Tangible fixed assets depreciation policy

    A physical asset transfer was completed on 31st March 2023 between Trigger Stuff CIC and its parent company Trigger Productions Ltd – a registered charity. Trigger Stuff CIC had operated two projects The Hatchling and WithYou which it determined would be better operated by the Charity going forward. The objects of the charity align with the objects of the CIC and the transfer was made for the benefit of the community for which the CIC is established. The full value of the assets transferred totals £181,449.Assets included physical assets created for the projects The Hatchling and WithYou and assigned with full title guarantee all Intellectual Property Rights associated however, arising from them to Trigger Productions Ltd.An asset transfer agreement has been signed by both parties upon completion date.

    Other accounting policies

    Going concernAfter considering the future plans of the company, its expected income and expenditure, and available cash and reserves, the directors have a reasonable expectation that the company has adequate resources and support to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubt over the company's ability to continue as a going concern. The directors have, therefore, continued to adopt the going concern basis of accounting.PensionsDefined contribution pension planThe Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.2.7 DebtorsShort-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.2.8 Cash and cash equivalentsCash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.2.9 CreditorsShort-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” ofFRS 102 to all of its financial instruments.Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.Financial liabilitiesFinancial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial. Judgements in applying accounting policies and key sources of estimation uncertaintyEstimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.The company makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The directors have identified the following estimates and assumptions that are considered to have a significant risk of causing a material adjustment.Income Recognition - the Company receives income from contracts and performance grants. These agreements can include various qualitative and quantitative milestones and performance conditions to be met in order for the Company to have entitlement to the funds. The Company makes various assumptions in determining the stage of completion of these contracts and performance grants.

TRIGGER STUFF C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 11 10

TRIGGER STUFF C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2023

3. Debtors

2023 2022
£ £
Trade debtors 2,160 0
Prepayments and accrued income 8,594 0
Other debtors 16,802 155,488
Total 27,556 155,488

TRIGGER STUFF C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2023

4. Creditors: amounts falling due within one year note

2023 2022
£ £
Trade creditors 45,731 97,753
Taxation and social security 71,639 111,538
Accruals and deferred income 5,474 824,200
Other creditors 3,158 9,362
Total 126,002 1,042,853

COMMUNITY INTEREST ANNUAL REPORT

TRIGGER STUFF C.I.C.

Company Number: SC395174 (Scotland)

Year Ending: 31 March 2023

Company activities and impact

Vision Our vision is to see social cohesion in communities, where people are active, engaged and connected through art and culture with a common understanding and respect for one another. Mission Trigger create and produce surprising, bold and popular theatrical interventions, which reimagine and revive public spaces and put audiences at the centre of the action. We are motivated by social and ethical issues, and we use art to explore gnarly problems. We care more about the impact of the work on the audience than we do about fitting into a particular art form. It’s for this reason we bring together unexpected collaborators, partners and audiences, engaging the masses and the individuals – with local relevance, national and international impact. What we do We dream up, create and produce bold and brave live events. We interrupt daily life, reimagine and revive public spaces, and place audiences and togetherness at the heart of everything we do. Values We are ambitious and bring world class multi-artform artists to create ground-breaking work of scale We are relevant and are driven to make work in response to societal issues of our time We make work that is fun and has a low barrier to entry We are inclusive and welcome people from all backgrounds to create, participate and experience our work We are sustainable and think carefully about how we create and deliver our projects sustainably PoliNations, Birmingham September 2022 Commissioner: UNBOXED Creativity in the UK For 17 days in September 2022, giant architectural trees created a canopy over a spectacular pop-up garden in Victoria Square, Birmingham. A vibrant programme of free events, workshops and performances including live music, dance and spoken word was enjoyed by 186,487 people, and animated this urban oasis, where thousands of plants and flowers were co-planted by 1,000 of the city’s residents. The super-natural wonderland uncovered the origin stories of the plants we know so well, including daisies, pansies, apple trees and roses. These, and in fact over 80% of the plants we see in our gardens are not from the UK. These plants tell the story of journeys, movement, dispersal, and new roots. PoliNations was a celebration of colour, beauty, and natural diversity. A place for everyone to explore, enjoy and be their true unique selves. PoliNations was brought to life by a world class creative team consisting of Creative Director (Angie Bual, Trigger/ The Hatchling), Design Director (Carl Robertshaw, Bjork/ Ellie Goulding) and Architects (THISS, The Bartlett/ UCL). Key achievements PoliNations was FREE to access and attracted 186,487 people in total, with live audiences of 148,929. 985 children and young people engaged with our educational activity pack Employed 585 artists, producers, creative and technical teams (freelance and employed) 12 paid trainees and placements working on costume, sound and lighting Over 60 community groups (1,000+ people) engaged from across Birmingham and the West Midlands Over 15 national partnerships to deliver the creative programme, including with British Coun-cil UK/ Pakistan Season, BBC Contains Strong Language, Birmingham City Council and Dis-hoom.

Consultation with stakeholders

Trigger has a number of stakeholders, they include the audiences and communities the company works with, the funders & stakeholders who support the work and the Board of Directors. Audiences and participants are consulted and integrated into the making of our projects, by involving them in workshops, open events and in performances. PoliNations: We consulted with Unboxed: Creativity in the UK and the full creative team, from a diverse range of skills and backgrounds, representing those from Design, PR and Horticulture, who came to the project from different lived experiences. Other key stakeholders of the project include representatives from DCSM, Commonwealth Games/Birmingham 2022, British Council and the government. The Board of Directors are consulted on selecting works for presentation based on a number of set criteria. All projects must be in line with the company’s objects and aims. Criteria includes assessing number of audiences and audience demographic, number of participants and community groups and how they will be impacted by their involvement in the work, number and quality of partnerships and funders willing to support the project, funding raised and evaluation.

Directors' remuneration

There were no other transactions or arrangements in connection with the remuneration of directors, or compensation for director’s loss of office, which require to be disclosed.

Transfer of assets

A physical asset transfer was completed on 31st March 2023 between Trigger Stuff CIC and its parent company Trigger Productions Ltd – a registered charity. Trigger Stuff CIC had operated two projects The Hatchling and WithYou which it determined would be better operated by the Charity going forward. The objects of the charity align with the objects of the CIC and the transfer was made for the benefit of the community for which the CIC is established. The full value of the assets transferred totals £181,449.Assets included physical assets created for the projects The Hatchling and WithYou and assigned with full title guarantee all Intellectual Property Rights associated however, arising from them to Trigger Productions Ltd.An asset transfer agreement has been signed by both parties upon completion date.

This report was approved by the board of directors on
15 December 2023

And signed on behalf of the board by:
Name: Hannah Slimmon
Status: Director