REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
STILL POINT PRODUCTIONS |
(A COMPANY LIMITED BY GUARANTEE) |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
STILL POINT PRODUCTIONS |
(A COMPANY LIMITED BY GUARANTEE) |
STILL POINT PRODUCTIONS |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 30 JUNE 2024 |
Page |
Report of the Trustees | 1 | to | 2 |
Independent Examiner's Report | 3 |
Statement of Financial Activities | 4 |
Balance Sheet | 5 |
Notes to the Financial Statements | 6 | to | 9 |
STILL POINT PRODUCTIONS (REGISTERED NUMBER: SC250565) |
REPORT OF THE TRUSTEES |
for the year ended 30 JUNE 2024 |
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 June 2024. 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 and aims |
The main purpose of the charity as set out in its constitution is to promote, maintain, improve and advance the education of children, young people and adults particularly by encouragement of the Arts including the arts of drama, music, singing, literature and visual arts. |
Significant activities |
To meet it objectives the charity undertakes to maintain, develop, and run a website and digital business to support the work of Emahó. The business model has proven itself to be sufficiently flexible by moving from primarily workshop-based events to exclusively online activities. |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
Workshops |
Emahó presented a workshop in Switzerland in the period. This workshop was supported by the Charity. |
No further activities will take place due to the winding up of the Charity as at 31st May 2024. |
FINANCIAL REVIEW |
Financial position |
Due to the winding up of the charity at 31st may 2024, all funds have been expended. The remaining charity funds of £4,906 were donated to Impact Arts (Projects) Limited, SC032430. |
Reserves policy |
No reserves have been held as the Charity has been wound up as at 31st May 2024. |
Going concern |
The accounts have been prepared on a cessation basis as the Charity has been wound up as at 31st May 2024, with remaining assets transferred to another charity. This has received approval from OSCR. |
FUTURE PLANS |
The charity has been wound up as at 31st May 2024. |
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 and appointment of new trustees |
No further Trustees will be appointed as the Charity has been wound up as at 31st May 2024. |
Organisational structure |
No further Board meetings will take place as the Charity has been wound up as at 31st May 2024. |
Induction and training of new trustees |
No further Trustees will be appointed as the Charity has been wound up as at 31st May 2024. |
Key management remuneration |
The Board of Trustees unanimously voted to pay Trustee S Hobson, a monthly project fee in relation to the daily management of the charity. Such payments were agreed in writing, are permitted by the charity's constitution, and are considered reasonable for services provided. |
STILL POINT PRODUCTIONS (REGISTERED NUMBER: SC250565) |
REPORT OF THE TRUSTEES |
for the year ended 30 JUNE 2024 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Independent Examiner |
Martin Greig BA CA |
Thomas Barrie & Co LLP |
Atlantic House |
1a Cadogan Street |
Glasgow |
G2 6QE |
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 |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
STILL POINT PRODUCTIONS |
I report on the accounts for the year ended 30 June 2024 set out on pages four to nine. |
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. 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 connection with 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. |
Martin Greig BA CA |
The Institute of Chartered Accountants of Scotland |
Thomas Barrie & Co LLP |
Atlantic House |
1a Cadogan Street |
Glasgow |
G2 6QE |
30 March 2025 |
STILL POINT PRODUCTIONS |
STATEMENT OF FINANCIAL ACTIVITIES |
for the year ended 30 JUNE 2024 |
2024 | 2023 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Investment income | 2 |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 8,451 |
STILL POINT PRODUCTIONS (REGISTERED NUMBER: SC250565) |
BALANCE SHEET |
30 JUNE 2024 |
2024 | 2023 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
CURRENT ASSETS |
Stocks | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 7 |
Unrestricted funds | 8,451 |
TOTAL FUNDS | 8,451 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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 |
STILL POINT PRODUCTIONS |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 30 JUNE 2024 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The presentational and functional currency of the financial statements is Pounds Sterling (£). |
Going concern |
The accounts have been prepared on cessation basis as the Charity has been wound up as at 31st May 2024, with the remaining assets transferred to another charity. |
Financial reporting standard 102 - reduced disclosure exemptions |
The charitable company has taken advantage of the following disclosure exemption 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. |
Critical accounting judgements and key sources of estimation uncertainty |
In preparing these financial statements, the trustees are required to make judgements, estimates and assumptions that affect the application of the Charity's accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively. |
There are no significant judgements or estimates used in the preparation of these accounts. |
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. |
Subscriptions |
Subscriptions are recognised on receipt. |
Donations |
Donations are recognised on receipt. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until those conditions are fully met. |
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. |
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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. |
STILL POINT PRODUCTIONS |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 JUNE 2024 |
1. | ACCOUNTING POLICIES - continued |
Fund accounting |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Financial instruments |
The charity has financial assets and financial liabilities of a kind that qualify as basic financial instruments. |
Debtors |
Short term debtors are measured at transaction price, less any impairment. |
Cash and cash equivalents |
Cash and cash equivalents comprise cash balances. |
Creditors |
Short term trade creditors are measured at the transaction price. |
Provisions |
Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognised as finance cost. |
2. | INVESTMENT INCOME |
2024 | 2023 |
£ | £ |
Interest received |
3. | TRUSTEES' REMUNERATION AND BENEFITS |
Trustees' remuneration for the period to 31st May 2024 was £8,893 (2023 - £17,700). |
Trustees' expenses |
Trustee, S Hobson, was reimbursed expenses amounting to £53 in the period (2023 - £1,574). |
Donations received from trustees |
Donations worth £5,000 were received in period from M&L Coachbuilders Limited, a company controlled by Trustee Peter Miller. |
STILL POINT PRODUCTIONS |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 JUNE 2024 |
4. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted |
fund |
£ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Investment income |
Total |
EXPENDITURE ON |
Charitable activities |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 8,451 |
5. | STOCKS |
2024 | 2023 |
£ | £ |
Stocks |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Accrued expenses |
7. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.7.23 | in funds | 30.6.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 8,451 | (8,451 | ) | - |
TOTAL FUNDS | (8,451 | ) | - |
STILL POINT PRODUCTIONS |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 JUNE 2024 |
7. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 53,256 | (61,707 | ) | (8,451 | ) |
TOTAL FUNDS | ( |
) | (8,451 | ) |
Comparatives for movement in funds |
Net |
movement | At |
At 1.7.22 | in funds | 30.6.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 5,218 | 3,233 | 8,451 |
TOTAL FUNDS | 5,218 | 3,233 | 8,451 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 74,541 | (71,308 | ) | 3,233 |
TOTAL FUNDS | 74,541 | (71,308 | ) | 3,233 |
8. | RELATED PARTY DISCLOSURES |
Except as disclosed in Note 3 to the accounts, there were no related party transactions during the year. |