REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Financial Statements for the Year Ended 31st March 2023 |
for |
Public Service Broadcasting Trust |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Financial Statements for the Year Ended 31st March 2023 |
for |
Public Service Broadcasting Trust |
Public Service Broadcasting Trust |
Contents of the Financial Statements |
for the Year Ended 31st March 2023 |
Page |
Report of the Trustees | 1 | to | 4 |
Statement of Financial Activities | 5 |
Balance Sheet | 6 |
Notes to the Financial Statements | 7 | to | 10 |
Public Service Broadcasting Trust (Registered number: 02194957) |
Report of the Trustees |
for the Year Ended 31st March 2023 |
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 31st March 2023. 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 |
Aims and objectives |
The Public Service Broadcasting Trust (PSBT), commonly known as Fixers, was established in 2008 and has been solely focused on supporting marginalised and vulnerable young people aged between sixteen and twenty-five. These young people have confronted a major issue in their lives and, consequently, want to share their experience in order to help others in a similar predicament, breaking down barriers of isolation to counter a sense of helplessness, defying the popular perception their voices have little or no value. |
What the charity has been able to do is create an empathetic, non-judgmental environment where young people feel they can speak openly and authentically, and do not have to create any pretence, as they might feel pressured to do on a social network. These young people discover they are not alone, and they will not be ridiculed for having problems. In fact, their voice has real value, and not only can they change things in their own lives, but they can help change the lives of others, whether by their direct involvement or by having their voice amplified and directed to those who can affect change for the greater good. |
Public Service Broadcasting Trust (Registered number: 02194957) |
Report of the Trustees |
for the Year Ended 31st March 2023 |
ACHIEVEMENT AND PERFORMANCE |
Operational review |
2018-2019 saw a considerable challenge in securing the long-term financial viability of the charity, and Fixers temporarily ceased full-time operations in October 2019, switching to legacy mode. |
During the 2018/2019 financial year and in the first half of the 2019/2020 financial year the charity had to streamline operations in order to save costs. The number of staff were significantly reduced and regional offices were closed. Since 2012, the Big Lottery has been a major financial supporter of the charity but that funding was always intended to terminate in 2019 on the understanding that other sources of funding would be able to replace the Big Lottery. Despite the efforts of the management team and the previous Trustees, the charity was unable to secure adequate funding sources that would enable it to support the ongoing work of Fixers. |
In August 2019, the decision was made to conduct a managed winding down of full-time Fixers activities. The previous Board of Trustees made this decision due to a difficult financial position and the realistic possibility that the organisation would become insolvent if drastic measures were not taken. The previous Trustees explored a number of alternative strategies, aimed at preserving the legacy of Fixers in the form of media content and other intellectual property assets. |
At the end of October 2019, a new Board of Trustees was formed following a formal consultation process. With significant and first-hand experience of the charity as previous staff members, and in governance, fundraising, marketing and safeguarding from other roles, these individuals were nominated onto the board and have begun to ensure the future legacy of the work that has been done over the past 10 years and more. These people have a larger team of dedicated and skilled ex-Fixers staff on hand to offer support and advice over the coming years. |
The Board saw a few minor personnel changes in 2020/2021, acting entirely on a voluntary basis. Along with the MD, they are entrusted with maintaining support for the charity's website and keeping the content on social media sites active and available, whilst upholding the core values of the charity. |
A celebration of the work of Fixers |
Since 2008, some 23,000 young people in all four nations of the United Kingdom have turned to the organisation to tackle the biggest challenges in their lives - and identify what needs to change and why. Many have turned their lives around and credit Fixers with setting them on their journey. |
Collectively these individuals have created over 3,000 films, which in turn have had 4.4 million views on YouTube, and nearly 400 print resources in the form of posters, leaflets, beer mats and key rings. |
Independent evaluations with Leeds University showed completing a Fixers project helped young people become less isolated and know they could take control of their own life situations. Further, the evaluations showed 85% of young people continue with their Fixers projects at least a year after completion, many of them building on them to get into work or turning them into award winning charities of their own. |
For the majority of its tenure, Fixers held a unique relationship with ITV, offering high quality news stories featuring young people's campaigns on the regional news every month. Overall, Fixers contributed nearly 1,000 films totalling around 60 hours of airtime and is incredibly grateful to the support given by ITV. |
Over the years, Fixers has challenged the status quo, forcing policy makers to listen to the problems facing young people. One notable success in this area was the Women and Equalities Select Committee Inquiry into Sexual Harassment in Schools, which was driven by Fixers' stories and research with unprecedented media coverage and response for evidence. |
As the charity worked with more young people it became clear there were common problems spanning the country. Following the success of the 'Big Fix Live' in 2015, which brought together over 100 young people to discuss mental health, Fixers produced a one-day event on eating disorders with some of the world's leading experts, policy makers and practitioners. |
Public Service Broadcasting Trust (Registered number: 02194957) |
Report of the Trustees |
for the Year Ended 31st March 2023 |
Funding was later secured from the Welcome Trust to conduct a series of 'Feel Happy Fixes' with the aim to bring together young people who had already campaigned on five key topics: Autism, Anxiety, Body Image, Child Sexual Exploitation and Gender. The programme enabled hundreds of young people to convene and speak freely about the problems they faced before presenting their solutions for change to an invited audience of policy makers. |
The policy reports written and disseminated following these events had considerable impact. Particular successes included the Gender Report, the contents of which were discussed at a meeting with the Parliamentary Under-Secretary for Women and Equalities, Caroline Dinenage MP, and the Autism Report, highlighted in the House of Commons by the chair of the APPG on Autism, Dame Cheryl Gillan MP. |
More recently Fixers worked with school-aged children across the country to help inform the Children's Future Food Inquiry. A number of these individuals went on to become Food Ambassadors and delivered the Inquiry report to 10 Downing Street. |
Finally, the dedication of staff and the impact of the charity's work have been recognised over the years with prestigious awards, including UK Charity Project of the Year in the National Lottery Awards 2014 and the Queens Award for Voluntary Service in 2016. |
FINANCIAL REVIEW |
Financial position |
Income for the year was £52 and expenditure £1132 leading to a deficit for the year of £387. As at 31st March 2023, the charity had £513 in cash reserves. |
Investment policy and objectives |
The Memorandum and Articles of Association give the trustees the power to invest the money to the charity not immediately required for its purposes, in or upon such investments, securities, or property as may be determined from time to time subject nevertheless to such conditions (if any) and such consents (if any) as may for the time being be imposed or required by law and subject also as herein contained. The charity has a business reserve account which is used to clear the current account daily and during the year has placed funds on monthly deposit wherever practicable. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The Charity is controlled by its governing document, a memorandum of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
A Board of Trustees (all of whom are Directors of the Company) administer the Charity's affairs. The Chairman and Treasurer are appointed by the trustees. |
Recruitment and appointment of new trustees |
The Memorandum and Articles of Association dictate that the number of trustees shall not be less than three and not more than 35 or such greater number as the charity in general meeting may determine. The Board may from time to time appoint additional trustees, eager to fill a casual vacancy or by way of addition to the Board, provided that the prescribed maximum is not thereby exceeded. |
Organisational structure |
During the financial year, the Board met on at least a quarterly basis. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Public Service Broadcasting Trust (Registered number: 02194957) |
Report of the Trustees |
for the Year Ended 31st March 2023 |
Registered office |
Trustees |
Company Secretary |
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 |
Public Service Broadcasting Trust |
Statement of Financial Activities |
(Incorporating an Income and Expenditure Account) |
for the Year Ended 31st March 2023 |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
EXPENDITURE ON |
Charitable activities |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | ( |
) | ( |
) | 643 |
Public Service Broadcasting Trust (Registered number: 02194957) |
Balance Sheet |
31st March 2023 |
2023 | 2022 |
Notes | £ | £ |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 4 | ( |
) | ( |
) |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
NET ASSETS | ( |
) |
FUNDS | 6 |
Unrestricted funds | ( |
) | 643 |
TOTAL FUNDS | ( |
) | 643 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 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 and authorised for issue on |
Public Service Broadcasting Trust |
Notes to the Financial Statements |
for the Year Ended 31st March 2023 |
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. |
Financial reporting standard 102 - reduced disclosure exemptions |
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. |
Governance costs |
Governance costs include those associated with meeting the constitutional and statutory requirements of the Charity which include the audit fees and costs linked to the strategic management of the Charity. |
Allocation and apportionment of costs |
Support expenditure, which does not directly relate to the objects of the charity, is analysed between charitable expenditure across each charitable activity. Items, which involve more than one cost category, are apportioned as appropriate to the cost categories involved. |
Expenses relating to restricted funds are shown separately. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
VAT is irrecoverable on grants and donations but is taxable on service level agreements and sponsorship. |
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. |
Operating leases |
Costs relating to operating leases are charged to the Statement of Financial Activities on an accruals basis. |
Public Service Broadcasting Trust |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2023 |
2. | DONATIONS AND LEGACIES |
2023 | 2022 |
£ | £ |
Donations |
3. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31st March 2023 nor for the year ended 31st March 2022. |
Trustees' expenses |
Trustees expenses totalling £118 were reimbursed to one Trustee for travel costs in the year ended 31 March 2022. No trustees were reimbursed expenses during the year ended 31 March 2023. |
4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Accruals and deferred income |
5. | ANALYSIS OF NET ASSETS BETWEEN FUNDS |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
£ | £ | £ | £ |
Current assets |
Current liabilities | ( |
) | ( |
) | ( |
) |
(387 | ) | - | (387 | ) | 643 |
6. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.4.22 | in funds | 31.3.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 643 | (1,030 | ) | (387 | ) |
TOTAL FUNDS | (1,030 | ) | (387 | ) |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 102 | (1,132 | ) | (1,030 | ) |
TOTAL FUNDS | ( |
) | (1,030 | ) |
Public Service Broadcasting Trust |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2023 |
6. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net |
movement | At |
At 1.4.21 | in funds | 31.3.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 4,427 | (3,784 | ) | 643 |
TOTAL FUNDS | 4,427 | (3,784 | ) | 643 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 462 | (4,246 | ) | (3,784 | ) |
TOTAL FUNDS | 462 | (4,246 | ) | (3,784 | ) |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.4.21 | in funds | 31.3.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 4,427 | (4,814 | ) | (387 | ) |
TOTAL FUNDS | 4,427 | (4,814 | ) | (387 | ) |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 564 | (5,378 | ) | (4,814 | ) |
TOTAL FUNDS | 564 | (5,378 | ) | (4,814 | ) |
Public Service Broadcasting Trust |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2023 |
7. | RELATED PARTY DISCLOSURES |