Solutions For The Planet Limited
Solutions For The Planet Limited
Registered number: 04375187
Directors' Report and
Unaudited Financial Statements
For The Year Ended
31 July 2021
Bristol Community Accountants CIC
Solutions For The Planet Limited
Directors' Report and Unaudited Financial Statements
For The Year Ended
31 July 2021
Directors' Report and Unaudited Financial Statements
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| Company Information | 1 |
| Directors' Report | 2—3 |
| Accountants' Report | 4 |
| Income and Expenditure Account | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7—9 |
Solutions For The Planet Limited
Company Information
For The Year Ended
31 July 2021
Company Information
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| Registered Office | 9 St. Lucia Close |
| Bristol | |
| BS7 0XS | |
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| Knowle | |
| Bristol | |
| BS4 1DQ | |
Solutions For The Planet Limited
Company No. 04375187
Directors' Report For The Year Ended
31 July 2021
Directors' Report
The directors present their report and the financial statements for the year ended
31 July 2021
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Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period. In preparing the financial statements the directors are required to:
- select suitable accounting policies and then apply them consistently;
- make judgments and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Review of Business
Solutions for the Planet has continued to experience major disruption due to the impacts of Covid-19 this financial year. The start of the year saw our new Youth Insights service start to establish with two founding partners. As we kicked off our Big Ideas Programme 2022, we were still delivering the final part of our delayed Big Ideas Programme including a virtual celebration event and the Big Ideas Competition 2020 National Final event in November 2020. There was therefore significant cross over in terms of our operational activity both at the start and end of the year leading to more deferred income than traditionally expected in a standard year for the business.
Big Ideas Programme 2021
We created three different deliver options for Big Ideas Days in 2021 owing to the continued and ever changing Covid-19 restrictions in schools and our business partners. Between September 2020 and March 2021, during a global pandemic that made every week uncertain, more than 1800 young people across the UK started thinking about what issues mattered most to them. Despite all the challenges faced; despite schools being closed, then open, then closed, then open again; despite the S4TP team and mentors not being able to physically go into schools for the entire academic year – over 400 young people and their teachers refused to give up on their Big Ideas, and submitted portfolios of work to be considered by Shortlisting judges. 96 teams from 13 schools across England and Central Belt Scotland, managed to complete well over 500 pieces of amazing work!
Highlights of the year include:
- 51 young people aged 14-19-years-old took part in our Youth Insights Panels.
- We recruited two new members of the team including restructuring the Big Ideas Programme delivery team
- 70 business employees volunteered over 1500 hours to mentor our Big Ideas teams.
- 915 students received the new Discovery CREST Award (2021)
- 51 student teams competed in one of 6 Virtual Regional Finals.
- 163 students received a Bronze CREST Award following the Virtual Regional Finals
- Two successful Virtual Big Ideas Competition National Finals took place, one in November 2020 and one in June 2021.
- One of our Big Ideas Competition 2020 Finalist teams, Eco-Air, presented at IGEM's Lion's Lair had several other speaking engagements.
- We recruited two young people onto our Board of Directors, one of whom is an alumnus of the Big Ideas Programme 2016.
- We expanded Solutions for the Planet’s Advisory Board to include two young people including a 13-year-old Big Ideas Programme Alumni.
- Our CEO, Jen Baughan, won the Great British Entrepreneur of the Year Awards 2020 as Entrepreneur for Good in the Southwest.
- We were shortlisted in the Education Category at the Global Good Awards for a second time.
Solutions For The Planet Limited
Directors' Report (continued)
For The Year Ended
31 July 2021
Directors
The directors who held office during the year were as follows:
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APPOINTED |
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Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
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Director
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Solutions For The Planet Limited
Accountants' Report
For The Year Ended
31 July 2021
Accountants' Report
In accordance with the engagement letter dated 16th March 2022, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.
You have acknowledged on the balance sheet as at year ended
31 July 2021
your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
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The Park, Daventry Road
Knowle
Bristol
BS4 1DQ
Solutions For The Planet Limited
Income and Expenditure Account
For The Year Ended
31 July 2021
Income and Expenditure Account
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| Notes | £ | £ | ||
| TURNOVER |
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| Cost of sales |
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| GROSS SURPLUS |
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| OPERATING SURPLUS/(DEFICIT) |
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| SURPLUS/(DEFICIT) BEFORE TAXATION |
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| Tax on Surplus/(deficit) |
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| SURPLUS/(DEFICIT) AFTER TAXATION BEING SURPLUS/(DEFICIT) FOR THE FINANCIAL YEAR |
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The notes on pages 7 to 9 form part of these financial statements.
Solutions For The Planet Limited
Balance Sheet
As at
31 July 2021
Balance Sheet
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| Tangible Assets | 3 |
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| Debtors | 4 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 5 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| Income and Expenditure Account |
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| MEMBERS' FUNDS | 23,852 | 3,095 | |||
On behalf of the board
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Director
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The notes on pages 7 to 9 form part of these financial statements.
Solutions For The Planet Limited
Notes to the Financial Statements
For The Year Ended
31 July 2021
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
1.3.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
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1.5.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable surplus. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable surplus will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable surplus will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in surplus or deficit, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
1.6.
Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income and expenditure account as they become payable in accordance with the rules of the scheme.
Solutions For The Planet Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 July 2021
1.7.
Government Grant
Government grants are recognised in the income and expenditure account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income and expenditure account. Grants towards general activities of the entity over a specific period are recognised in the income and expenditure account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income and expenditure account over the useful life of the asset concerned.
All grants in the income and expenditure account are recognised when all conditions for receipt have been complied with.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 5 (2020: 4)
3.
Tangible Assets
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Debtors
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| Other taxes and social security |
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Creditors: Amounts Falling Due Within One Year
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| Accruals and deferred income |
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Solutions For The Planet Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 July 2021
6.
Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
7.
General Information
Solutions For The Planet Limited
is a private company, limited by guarantee, incorporated in England & Wales, registered number
04375187
. The registered office is 9 St. Lucia Close, Bristol, BS7 0XS.