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2022-03-31-accounts

CREATEI CREATE (ARTS) LIMITED FINANCIAL STATEMENTS for the year ended 31 MARCH 2022 Goodman Jones

CREATE (ARTS) LIMITED

ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022

Company Number 4728145 Charity Registration Number 1099733 Chairman Eddie Donaldson OBE Chief Executive Nicky Goulder Company Secretary Vanessa Sharp Treasurer Paul Thimont Registered Office 3[rd] Floor 14 Austin Friars London EC2N 2HE Email info@createarts.org.uk Telephone (London / Manchester) 020 7374 8485 / 0161 521 0033 Website createarts.org.uk Facebook facebook.com/createarts.org.uk Instagram / Twitter @createcharity Bankers The Co-operative Bank plc 1 Balloon Street Manchester M60 4EP Auditors Goodman Jones LLP 29/30 Fitzroy Square London W1T 6LQ

INDEX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

Page
Directors' report 1
Statement of Directors’ responsibilities 14
Auditors' report 15
Statement of financial activities 18
Balance sheet 19
Statement of cash flows 20
Notes to the financial statements 21

CREATE (ARTS) LIMITED

Directors’ Report

The Trustees, who are also Directors of the charity for the purposes of the Companies Act, submit their annual report and the audited financial statements for the year ended 31 March 2022. The Trustees confirm that the report and financial statements of the charity comply with the current statutory requirements, the requirements of the company's governing document, and 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) (Charities SORP (FRS 102)).

Objectives and Activities

Charitable objects

Vision

For a fair, caring, equal, inclusive, sustainable society in which the creative arts play a transformative role in empowering every individual to fulfil their potential.

Mission

To use the creative arts to connect, empower, inspire and upskill society’s most disadvantaged and vulnerable people, raising aspirations, building self-esteem, reducing isolation and enhancing wellbeing.

Core beliefs

Values

Create is a values-driven charity. Our values underpin the way we work with our participants, partners, people and community. They guide the decisions we make and the way we work.

Aims

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Directors’ Report (continued)

Create is the UK’s leading charity empowering lives, reducing isolation and enhancing wellbeing through the creative arts

We know that unleashing creativity ignites imaginations, develops confidence and builds relationships. Like setting off a firework, our professional artists light the touch paper and our participants discover newfound self-belief and a desire to try more, do more and be more.

We are a national charity that champions local priorities by collaborating with our partners to tailor every project to each individual’s needs. We believe that everyone – regardless of circumstances, behaviour, age, gender, race or disability – deserves the chance to fulfil their potential. Most projects are collaborations with community partners, which have specialist knowledge of local priorities and the participants that they exist to serve.

Our focus is on engaging the most marginalised participants in inspiring, sustainable arts programmes – delivered in familiar settings where they feel comfortable and safe – in areas where provision is poor and engagement in the arts is low. We prioritise our work with seven participant groups: young patients; disabled children and adults; young and adult carers; schoolchildren (and their teachers) in areas of deprivation; vulnerable older people; young and adult prisoners (and their families); and marginalised children and adults (eg homeless people, LGBTQ+ young people, young refugees and asylum seekers).

In response to the COVID-19 lockdown in March 2020, we designed Create Live!, a new project concept using Zoom to deliver high quality, live, interactive, collaborative creative workshops that are fun, build skills and reduce isolation. Our partners can now choose to receive our projects digitally, invenue or a blend of the two.

Since Create was founded in July 2003, we have run 12,057 creative arts workshops that have delivered 330,943 contact hours as part of sustained, life-changing programmes with 41,539 participants.

Some of our programmes are developed and delivered in partnership with the business community, helping to meet their Corporate Responsibility priorities. Every project we deliver is rigorously evaluated because we’re passionate about providing inspiring and empowering creative experiences that have a lasting impact. We also evaluate the longer-term impact of our work through the Making it Matter initiative, which revisits up to two projects each year, 6-24 months after they took place.

We know from experience that drama can build an isolated young carer’s self-esteem, that storytelling can strengthen the bond between a young offender and the loved ones waiting for him at home, and that music can help ease the anguish felt by the parent of a child with a life-limiting condition.

One spark of creative energy opens up a world of positive opportunities.

Create lights that spark.

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Directors’ Report (continued)

Public Benefit

In setting Create’s objectives and planning its activities, the Trustees have considered the Charity Commission’s general guidance on public benefit. As noted throughout this report, the charity’s work is directed towards the most disadvantaged and vulnerable people in society and outcomes for the public benefit are recorded here in detail.

Project participants

To fulfil Create’s commitment to working with the most disadvantaged and vulnerable people, each potential community partner is carefully researched to assess the extent to which it enables the charity to meet this objective. Where applicable, Create uses poverty indices and government statistics on areas of deprivation, together with the government’s levelling up / Arts Council England’s under-provided priority places, to find the geographical areas of greatest need. When choosing schools, it also considers the percentage of children who bring pupil premium / are entitled to free school meals (key poverty indicators), use English as an additional language or have special educational needs. The level of vulnerability of the participants is always a key consideration, as is the extent to which the community partner already benefits from provision by other external agencies. Create’s preference is to work with organisations that are under-served.

In 2021/22, 1,367 participants directly benefited from Create’s projects. These included: young psychiatric hospital patients; young, young adult and adult carers; children and adults with mental illhealth; disabled children and adults; young asylum seekers and refugees; LGBTQ+ young people; homeless adults; prisoners and their children; inner-city schoolchildren; and isolated older people. Create worked with (where data provided):

Volunteers

55 volunteers donated 571 hours of their time to Create: using their skills and enthusiasm to support participants in Create workshops; and providing expert guidance as Trustees or Advisory, Communications, Creative or Development Council members. Pro bono communications support was donated by Contagious; HR software by Breathe. Pro bono support for Create’s office move in 12/21 was given by Reed Smith LLP (legal) and Vail Williams LLP (property advice). Furniture was donated by Balfour Beatty and Encore Environment Ltd via ProjectDIVERT. Achievements and Performance

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Directors’ Report (continued)

Forty-eight professional Create artists ran 18 programmes (an umbrella body of work) within which 65 projects (a series of workshops with one or more community partners) were designed. These delivered 981 workshops/13,439 contact hours with 1,367 participants; and were rated “successful overall” by 99% of community partner staff.

COVID-19 had a profound effect on Create’s participants, many of whom were already experiencing social isolation/poor mental wellbeing. When the pandemic first hit, Create reimagined all its projects for online delivery. Create Live! – the online delivery mechanism launched in April 2020, just two weeks after the first lockdown – enabled Create to continue to reach participants who were unable to attend projects in-venue. This work was recognised by Charity Times, which chose Create as the recipient of its prestigious Digital Transformation of the Year award in 09/21.

As the pandemic eased, partners and participants were offered a hybrid model, enabling them to choose either an in-venue project or an online one, based on participant need, comfort and safety. Online delivery also enabled Create to deliver impactful projects in Scotland and Wales in 2021/22, as well as to those who were unable to leave home or access a venue. During the year, Create established a new hub in Manchester, enabling the charity to expand its work across the North, in line with its ambitious target to double its reach and impact by its 25[th] anniversary in 2028.

Once pandemic restrictions lifted, Create was able to return to prison, with the launch of a groundbreaking project called My Dad’s In Prison . Through creative writing and illustration, prisoners at HMP Oakwood in Staffordshire created a moving book to support families with a loved one in prison.

In October 2021, Create brought together disabled and non-disabled children from four schools in Manchester and Salford to make music on the theme of “modern day superheroes”, as part of its flagship programme, creative:connection . Working with four of the charity’s professional musicians, this gave students a chance to be creative and to build connections, breaking down barriers and prejudices around disability. The project culminated in a dynamic concert at Manchester Central Library on 22/10/21, as part of Manchester Literature Festival.

To mark Young Carers Action Day (YCAD) on 16/03/22, Create teamed up with Carers Trust to deliver four creative projects with young carers in England, Scotland and Wales. Using the theme of “taking action on isolation”, the young carers choreographed dances, took photographs and made music during the February half-term, before coming together on YCAD itself for an online showcase. This celebrated their work and, and put their talent centre stage.

Photography and writing created during Speak With My Voice by adults who attend Deptford Reach - and are vulnerable through homelessness, mental ill-health, loneliness, social exclusion and severe poverty – was displayed in an exhibition at Deptford Lounge in 12/21. This raised their self-esteem and gave them a voice.

Create is committed at all levels to rigorous, honest evaluation. Each project is individually designed to meet partners’ unique needs; clear, relevant intended outputs/outcomes are agreed; and the project is then evaluated against these. Planning and debrief meetings start and conclude each project and Create has a 100% feedback policy, with feedback being collected wherever possible from all participants, community partner staff, volunteers and Create artists. Projects are monitored through verbal feedback circles, communication, observation of workshops and written response through questionnaires; and qualitative and quantitative feedback is used by Create to produce an evaluation report that assesses the extent to which the intended outputs/outcomes have been met. This is the primary means by which

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Directors’ Report (continued)

formal feedback from each project is disseminated, reports being sent to the community partners, artists and funders, and used by Create in the planning of all future projects.

As part of the evaluation process, community partner staff and participants are asked to rate the success of Create’s projects in enabling the participants to develop a range of key skills and enhanced wellbeing, and to appraise the success/enjoyment of their project overall. The results across all projects during the year, shown in the graph below, demonstrate that participants’ skill development was rated successful by between 90% and 99% of community partner staff and by 71% and 91% of participants.

----- Start of picture text -----
Participant skill development / wellbeing /
overall project rating (%)
100 88 97 95 98 94 88 99 91 90 96 95 99
90 75 78 78
80 71
70
60
50
40
30
20
10
0
Participant Community Partner staff
----- End of picture text -----

Create invested in training for staff and artists on the climate emergency. Four senior staff members and five artists completed Al Gore’s Climate Reality Leadership training in October 2021, which provided key information and tools to help raise awareness of/take action in response to the climate emergency. These learnings are being fed into project planning/delivery and organisational strategy.

Create also provided its artists and project team with free learning, skill-building and networking opportunities at Artist Sharing events that took place in May and November. With external speakers and artist-led workshops, these sessions focused on delivering projects about the climate emergency. Artists commented: “It really clearly showed us statistics on the effects of climate change and what we can do immediately to stop it. I also learnt a lot about just how much it's affecting the entire world now more than ever with floods and fires etc.” “I enjoyed thinking about landscapes and integrating that with ourselves. Perhaps it's a good exercise in reminding people that we are not separate from the environment." “Having recently worked with sculpture and assemblage in my own practice it was great to receive a workshop on the topic to go over all the wonderful possibilities of art materials that are available and how they can be utilised through playful exploration.”

Create ran the sixth year of Nurturing Talent , a programme over 12 months designed to upskill emerging artists who wish to combine their professional artistic practice with creative workshop delivery in community settings. Nurturing Talent gave seven emerging artists the opportunity to work as supporting artists on a range of projects, attend professional development training days and work in pairs/small groups to design and deliver their own workshop in a community setting. Each artist received a bursary and collectively supported 224 workshops across the year, further enhancing the participants’ experience. One Nurturing Talenter commented: ”You get to meet and work with so many different artists, and you also get to meet and work with the Create team who are amazingly supportive throughout. It has been a fantastic experience.”

Funding and in-kind support

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Directors’ Report (continued)

Create’s income was secured via a public sector grant from Arts Council England; the development of new relationships (with organisations including: Champions for Children; Durham University Students’ Union; The Michael and Shirley Hunt Charitable Trust; Michael Tippett Musical Foundation; Picfair Mind the Lens; Premier League; The Prince of Wales’s Charitable Fund; Rix Thompson Rothenberg Foundation); the strengthening of significant existing relationships (including: Ashurst LLP; British Land; Carers Trust; The Chartered Accountants’ Livery Charity; First Sentier Investors; John Lyon’s Charity; Masonic Charitable Foundation; The Mercers’ Company; Raise Your Hands; Reed Smith LLP); the generous support of dozens of other trusts, foundations, companies and individuals; community fundraising; and events.

At its key fundraising event, generously hosted by White Cube in Bermondsey on 03/03/22, Create staged an intimate conversation between its Patron Tim Marlow OBE, Director and Chief Executive of London’s Design Museum, and internationally-acclaimed artist Sir Antony Gormley. Create’s CEO also spoke to the charity’s Youth Ambassador, inspirational young carer Abi, about the impact of creativity on her life. The event raised almost £31k.

On 25/03/22, artist and psychotherapist Philippa Perry visited a Create visual art project with young carers in Lambeth, along with her film crew. The resulting film featured in episode two of Channel 4’s hit TV show Grayson’s Art Club (series three), themed “Heroes and Heroines”.

The charity’s fundraising challenge event, the CRE8IN8, in which runners ran a daily distance of 800m, 8k or a half-marathon from 01-08/08/21 raised more than £15k. Other community fundraisers included: Durham University students raising £56k at their annual fashion show; and an exhibition at New Grooves Gallery in Notting Hill.

The Create the Difference individual and business membership schemes provide highly valued unrestricted financial support to underpin the charity’s work, enabling it to plan with confidence. Create thanks the following members (and all who wish to remain anonymous) who together donated over £70k:

Business Members : Innovators ~ Yellow Cat Recruitment. Collaborators ~ Lauren Dickinson Clarke, Michael O’Mara Books, Sara Putt Associates, Uncommon London. Individual Members : Champions ~ Whitney Gore, Alistair DK Johnston CMG, Tim & Claire Jones. Catalysts ~ Anne Baldock, Tony Cates, Eddie Donaldson OBE. Curators ~ Inez Anderson, Gareth Davies, Philip Emery, Adam McNeeney, Alan Paul, Colin Sheaf, Mark Sismey-Durrant. Community ~ Ozge Balk, Isabella Bragoli, John Broadis, Zoe Brooks, Elizabeth Dossett, Bonnie Gilmore, Nicky Goulder, Natalie Graeme, Hayley Granston, Sean

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Directors’ Report (continued)

Hanson, Richard Holman, Sally Horsington, Sam Johnson, Anna Jones, Sonja Jutte, Paul KempRobertson, Ben Knight, Jenny Leonard, William Lidstone, Michael Litman, Michael Llewelyn-Jones, Blanaird Mason, Julie Mernick, Marit Meyer-Bell, Tom Newman, Ben Newton, Kevin Parry, Michael Quintell, Alice Renaud, Isabel Santaolalla, Richard Schrieber, Vanessa Sharp, Lara Sherwin, Emily Stubbs, Louise Stubbings, Adrien Stum, Jim Thornton, Carol Topolski, Michael Topolski, Zelie Walker, Natt Wallbank.

A vital part of Create’s work is its partnerships with the business community, which enables companies to meet their Corporate Responsibility objectives while helping Create to achieve its mission. Companies including Ashurst LLP, British Land, First Sentier Investors and Reed Smith LLP provided volunteers to support projects that they funded, bringing a wealth of experience and expertise to workshops, acting as positive role models for the participants, and developing new skills and experiences to take back to their virtual workplace. Access to workshops also helped to enhance volunteers’ connectivity and wellbeing during a year of isolation for so many.

Create increased its profile through high quality, targeted communications that continued to position the charity as a leader in its field and the Chief Executive (CEO) as an expert voice. This helped to raise the profile of the challenges faced by the charity’s participants and the importance of the creative arts to connect, empower, inspire, upskill and enhance wellbeing. This included: Create’s appearance on Grayson’s Art Club; an article by the CEO in The Stage about why the theatre world needs to do more to champion young carers; an appearance by the CEO on the Creative Boom podcast; a blog by the CEO published by Charity Times on how Create shifted projects online during the pandemic; and an appearance by the CEO and Patron Erwin James on National Prison Radio followed by an interview with the CEO in Inside Time to promote the My Dad’s In Prison project.

Create’s City of London office lease on London Wall terminated on 24/12/21 and the charity moved to nearby premises in Austin Friars. Staff wellbeing and the charity’s Green Action Plan played an important role in decision-making, as did a blended approach of home and office working. Create is indebted to the following organisations for their support with the move: Furniture donations: Balfour Beatty and Encore Environment Ltd via ProjectDIVERT; Property consultant: O&A Property; Pro Bono legal support: Reed Smith LLP; Pro Bono surveyor: Vail Williams LLP; Office fit out: Wildcard Concept.

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Directors’ Report (continued)

Key Groups / Example Projects

During the year, Create developed and delivered 65 projects, examples of which are included below.

Led by Create’s professional artists, Create’s projects connected, empowered, inspired and upskilled all participants, raising aspirations, building self-esteem and enhancing wellbeing. They also …

… improved social skills, provided means of self-expression and built self- Disabled adults confidence

"I really enjoy the creative elements. It’s a great de-stressor and I always feel like I’m achieving something." Participant

Create’s creative:discovery project enabled 12 service users at MIND in Camden and MIND in Tower Hamlets & Newham to explore their creativity through high-quality photography workshops, delivered via Create Live!. Coming together remotely, they reconnected with their peers, reducing isolation; learnt new skills; and built confidence, enhancing wellbeing.

Disabled children … broke down barriers of prejudice and explored environmental concerns

“I think it’s important to talk about the challenges that face our planet. It affects our future.” Participant

The final year of Create's three-year changing:minds environmental project involved 112 children from the five special needs schools/units in the London Borough of Harrow through ceramics, drama, music, sculpture and visual art workshops. Participants explored the theme ‘Environment – Air’. The project culminated in a showcase at Harrow Arts Centre.

Create's creative:connection project brought together 48 disabled and non-disabled children from four schools in Manchester and Salford to create songs about ‘superheroes’, under the guidance of Create’s professional musicians. The project culminated in a performance at Manchester Central Library as part of Manchester Literature Festival.

… provided a social outlet through which to take a break from caring and build Adult carers trusting relationships, reducing isolation

“Having the chance to be creative helps you use your brain in a different way. We spend a lot of time doing things that we have to do and you can get very stressed if that’s your whole life. Creativity gives you that mindfulness space.” Participant

Create’s creative:release and creative:voices projects - delivered both in-venue and via Create Live! - enabled 202 adult carers in England and Scotland to explore their creativity while taking a break from their caring responsibilities, building trusting relationships with other carers who understand their situation, and developing communication skills and confidence. The project in Scotland brought carers from Edinburgh and Glasgow together.

... enabled young carers to take a break, build resilience, and learn about money Young carers in the home

“I would like to take photography as a GCSE now. I went to the photography project and I feel like it can really help me when I grow up.” Participant

Through its art:space , community:matters and inspired:arts projects Create worked with 26 young carer services across England, Scotland and Wales, delivering 453 workshops both online and in-venue. These enabled 596 young carers to develop their skills, enhance their creativity, build their confidence, connect with other young carers and enjoy a break from their caring responsibilities.

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Directors’ Report (continued)

“I learned how to manage my money. Now I’m more financially aware and know about things like interest rates.” Participant

change:matters is Create’s multi-year programme that takes a creative approach to upskilling young carers about money and family finances. Delivered both in-venue and via Create Live!, Create enabled 88 young carers to learn these new skills through animation, drama, music, photography, visual art and zine-making; and created a new resource bank on its website.

Prisoners

… gave prisoners space to express themselves, learn and connect with family

“[The project] genuinely made me grow as a person and as a father." Participant

Thirteen prisoners at HMP Isis, a young offenders institution in London, took part in Inside Change , which brought them together to write and record a radio drama about money issues. This was broadcast by National Prison Radio.

Thirteen prisoners at HMP Oakwood in Staffordshire took part in Create’s new creative writing and illustration project, My Dad’s In Prison . Together they created a moving book to support families with a loved one in prison. It is available for free on Create’s website.

Older people

… reduced isolation, fostered imagination and increased self-worth

“The last time I did something particularly musical I was in my late 20s, maybe early 30s. It was like missing a limb, but I didn’t actually understand that until I came back and started doing something again. I’m not letting it go again.” Participant

Create’s art:links and creative:engagement projects with older people, many of whom live with dementia, enabled 221 participants to express themselves creatively, learn new skills, feel less lonely and have fun. Create worked closely with its partners in deciding whether projects should take place invenue or online, in order to comply with COVID safety regulations and ensure participants felt safe.

Young hospital … provided a creative outlet to young people living with mental illnesses patients

“It’s really good to remind young people what it’s like not to be glued to your phone 24/7 and to be creative and be yourself without worrying what other people think.” Participant

creative:tandem empowered 52 young people who had been admitted to a mental health hospital unit in London with a serious mental illness, including psychotic, depressive, anxiety or eating disorders, selfharm or suicidal thinking.

Young refugees

… encouraged self-expression and built a sense of community

“It feels nice to do something creative because you learn something new.” Participant

Create worked with 49 refugee and migrant children in the London Borough of Brent through its community:matters partnership with Salusbury World. This gave them a chance to develop their creative thinking, self-expression and sense of belonging – as well as connect with others and build skills – through ceramics, dance, drama, filmmaking, music and visual art.

Vulnerable adults … enhanced wellbeing through self-expression

“I’ve loved it. I wouldn’t miss this project for the world. The work we do here is top quality.” Participant

Create’s Speak With My Voice project brought together 16 participants who attend Deptford Reach, a day centre in the London Borough of Lewisham serving local people who have been affected by homelessness, drug and alcohol addiction, mental health issues and social isolation.

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Directors’ Report (continued)

The in-venue project empowered them to express themselves through photography and writing, and culminated in a performance and exhibition at Deptford Lounge.

Plans for 2022/23

Create will enter year two of its ambitious seven-year strategy from 04/22 with the aim of doubling the reach and impact of its work by its 25[th] anniversary in 2028. Having successfully established its a new hub in Manchester during 2021, it will reach increasing numbers of the most disadvantaged and vulnerable children and adults across the North West and beyond.

Its participants will remain the driving force behind the charity’s work and Create will continue to meet its commitment to developing sustained, life-changing programmes by returning to many of the carer services, schools, day centres, prisons, children’s psychiatric hospital units and other community settings with which it collaborated during 2021/22.

Create has a series of important new initiatives planned that will extend its work geographically and with new partners. It will expand its work from its new NW hub, reaching participants in areas of high deprivation across Greater Manchester, Merseyside and beyond. It will extend its prison work with the launch of Free Inside at HMP Low Newton in Durham; and the expansion of its Inside Change financial literacy programme to four new prisons. It will take its creative:tandem programme for young patients with severe emotional or behavioural disorders to an adolescent psychiatric hospital in Greater Manchester, at a time when mental health support for young people has never been more critical. And it will launch its first programme with looked after children within London’s care system.

With the climate crisis arguably the most significant global challenge over the next decade and beyond (COVID-19 aside), there is an urgent need to educate people on environmental issues. Create has taken its environmental responsibility seriously for 19 years, both operationally and via projects. In line with its Environmental Policy, it will continue to promote the need for environmental responsibility, reviewing the targets set out in its Green Action Plan and taking an innovative approach to leading change. During 2022/23, it will launch two new environmental programmes - environment:matters and environment:tales – that will deliver 21 projects at special needs schools in Greater Manchester, Kent, Leeds and London.

Create will continue to offer community partners a blended approach of Create Live! and in-venue projects, enabling them to choose the most appropriate way for their participants to access workshops. For those participants who are unable to leave home, due to their caring responsibilities, frailty, mental illness or sickness, for example, being able to join workshops over Zoom helps to keep them connected, empowered, inspired and upskilled, reducing isolation and enhancing wellbeing.

During this 19[th] anniversary year, Create will commission an independent organisational evaluation to review its leadership, processes, programmes and impact. It will continue to evaluate projects and programmes at their culmination; and the charity’s Making it Matter initiative will revisit two projects that completed 6-24 months previously, to assess their longer-term impact on participants.

Artist development will remain a priority for Create, with six-monthly Artist Sharing events continuing to provide an opportunity for its professional artists to network, develop new skills and share best practice. Taking place in May and November 2022, the first of these will focus on projects working with special education needs/disabled participants. Six artists have been accepted onto the Nurturing Talent

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Directors’ Report (continued)

programme, which upskills emerging artists, enabling them to acquire experience and to benefit from high-quality mentoring, training and practical workshop assistance.

Planned fundraising events during the year include: a team of runners taking part in CRE8IN8 in 09/22; the One Lonely Fiver gig in 11/22; and a gala event (details tbc). A number of community fundraising events are also scheduled to take place.

Reserves policy

The aim of Create’s reserves policy is to ensure that its ongoing and future activities are reasonably protected from unexpected variances in income and expenditure. The Trustees regularly review the levels of unrestricted reserves and perform a full review annually. This considers the financial risks associated with different income streams, expenditure categories and balance sheet items together with Create’s ability to meet these from realisable funds. Create monitors a range of measures related to its income and expenditure profile, risks faced and cash flow in developing an unrestricted reserves target. On this basis, the Trustees aim to maintain free unrestricted reserves of 4-6 months of projected operational costs. Unrestricted reserves at 31/03/22 were £664,556, of which £149,473k is held in a designated fund to support the key one-off strategic cost of a CRM system / as a fixed asset fund. The balance of £515,083, represents 4.5 months of budgeted expenditure for 2022/23.

This crucial level of reserve – given the uncertainty resulting from the impact of COVID-19 and Brexit, and the volatility of the current economic situation – together with restricted reserves at 31/03/21 of £504,074 (funding received in advance that has been given for a specific purpose and is tied to specified projects or activity taking place in future financial years), provide the charity with a strong balance sheet and cash position. The Directors therefore consider the funding of the activities of the charity to be secure for the following 12 months and beyond.

Structure, governance and management

Company Status

The company is incorporated by guarantee and has no share capital. Each of the members has guaranteed to meet debts of £1 in the event of a winding up. The company was incorporated on 09/04/03 and is governed by a memorandum and articles of association. The company is also a registered charity.

Appointment and induction of Directors

Create’s Board of Directors has a wealth of experience that covers the arts, business, community and education sectors. New Directors are appointed to the Board by the current Directors, who are also members of the company, with reference to skills, diversity and Create’s values. The Chief Executive inducts new Directors through a process of briefings. They are provided with key information relating to the charity’s governance and operations, and undertake a DBS check and safeguarding training. The Directors meet at least quarterly and attend projects and events. The Communications, Creative, Development and Finance Councils are each chaired by a member of the Board.

Key management personnel

Day to day operations are managed by the Chief Executive, Nicky Goulder and her team of 18 staff. Five of these are on the Senior Management Team: Director of Communications; Deputy Director of Development; Director of Development; Director of Finance & Operations; Lead Senior Project Manager.

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Directors’ Report (continued)

New staff have a six-monthly appraisal; all staff have an annual appraisal against SMART objectives set. The Staff Handbook provides information on internal policies and procedures.

Annually, the Chairman agrees any staff salary increases, which have reference to any rise in the cost of living and any increase in responsibilities. As appropriate, staff salaries are benchmarked against the sector.

Fundraising

Create has a fundraising team of four who work closely with the Chief Executive. Funding bids are carefully researched, developed and submitted to trusts/foundations and public sector bodies, matching their funding criteria with Create’s work. Corporate partnerships are developed with businesses, carefully matching their corporate responsibility objectives with Create’s charitable objectives. Increasingly, Create is approached and works with organisations to co-create partnerships with mutual benefit. Create works on a personalised basis with individuals who have expressed interest in its work, via personal donations or community fundraising. It does not seek to raise funds from the wider public.

Create has received no complaints about this or any other approach to fundraising.

Risk management

The Directors consider the key risks to which the charity is exposed. In addition, a detailed risk register is maintained by the Director of Finance & Operations and reviewed annually by the Directors to assess the detailed risks and the systems in place to mitigate them. Examples of the key risks faced by Create and their mitigation are provided below:

• Reputational damage

The charity’s reputation is paramount and it works hard to maintain and enhance it.

Mitigation : High quality programmes are delivered by exceptional artists and meticulously evaluated; a rigorous Safeguarding Children & Vulnerable Adults policy is in place; risk assessments are carried out with community partners for every project.

• Lack of funding

Funding is critical to the continued operations of the charity and in a continuously evolving environment, particularly with the challenges presented by COVID-19 and the current economic climate, it needs to be alert to changing funding demands and policies.

Mitigation : The Chief Executive has a proven fundraising track record; fundraising has been strengthened with a Development Council, and Development team of four; longer-term funding is being developed; Create has a proven ability to meet fundraising targets.

• Poor staff wellbeing

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Staff wellbeing is crucial in a small, ambitious charity that delivers an extensive programme each year with disadvantaged and vulnerable participants.

Mitigation : Staff wellbeing is central to the charity’s people strategy and was an increased priority during lockdown with the team dispersed due to enforced home working. Initiatives have included creative activities; additional leave; and team socials.

Directors

The following served as Directors during the year:

John Broadis Tony Cates Eddie Donaldson OBE Tim Jones (resigned 02/03/22) Holly Khan (appointed 28/09/21) Marit Meyer-Bell Vanessa Sharp Paul Thimont Carol Topolski

The Directors are also the Trustees for the purpose of charity law.

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CREATE (ARTS) LIMITED Directors Rpport Icontinuedl Statement of Directors'responsiblltities The trustees (who are 31%0 direclor5 01 Create (Arlsl Limited for the purposes ol company lawl are re5pon5ible for preparing the TrLlStees' Report Iincorporating the directors. reportl and Ihe financial slatemenis in accordance wilh applicable law and Unitp.d Kingdom Accounting Standards, Including r.inancial Reporting Standard 102.. The Financ131 Reporting Standard applicable In the UK arid Republic of Ireland (United Kingdom Generally Ar.cepled Accoijnting Practice). Company law requires the trustees lo prepare financial statements for each financial year which give a Irue and fair view ol the state ol allairs of the c.haritable company and of the Income and expendilure. ol the charitable cornpany lor Ihat period. In preparing these financial statements. the trustees are required lo select suitable accounling policies and Ihen apply them consistently.. observe -_he methods and principles in Ihe Charities SORP., make ILJcgmenls and accounting estimaies that are reasonable and prudent. slate whether applicable UK Accounting Standards have been followed. subject to any material deparLurAs d15closed and explained In the financial slatemenls. and prepare Ihe financial stalements on the going concern basis unlesg it is Inappropriale to presume that the charitable company will coniinue In businèss The trijslees are responsible lor mainlaining proper accounting records which disclose with reasonable accuracy al any time the financial position ol thp charitable company and enable them lo ensure that the linancia statements comply with the Companies Act 2006 They are also responsible for salegLJardir).J the assel5 01 ihe charilable company and hence lor taking reasonable sleps lor the prevention and deteclion ol fraud and other irregularities Statement of Disclosure to Auditor In so lar as each ol the Directors Is aware.. there Is no relevant audit information of which the company's audilors are unaware". and Ihe Directors have laken all Steps that they ought to have taken to make Ihemselves aware of any relevant )udil information and io establish that the auditors are aware ol that Information. Auditors In accordance wilh section 485 01 the Companies Act 2006. appointment ol audilors lo the company will be PLJt tJ the Annual General Meeting ol MemLiers. This reporl has been prepared in accordance with Ihp provisions applicable to companies subject to Lhe small companies regime In Part 15 01 the Companies Act 2006 y OrdEI" Df the Boai Eddie onaldson OBE Chairman 06112122

CREATE (ARTS} LIMITED (A Company Limited by Guarantee} INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF CREATE (ARTS) LIMITED Opinion We have audited the financial statements of Create IArtsl Limited Ilhe 'charitable comp2ny'l for the year ended 31 March 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Praclicel. In our opinion the financial statements.. give a true and fair view of the slate of the charitable company's affairs as at 31 March 2022 and of ils incoming resources and application of resources, including its income and expenditure for the year then ended, have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Charities Act 2011. 8asls for oplnlon We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those stsndards are further described in the Auditors, responsibilities for the audit of the financial ststemenls section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant lo our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Concluslons relatlng to golng concern In auditing the financial statements, we have concluded that the Trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitsble company's ability to continue as a going concern for a period of al least twelve months from when the financial ststemenls are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sects'ons of this report. Page 15

CREATE (ARTS} LIMITED (A Company Limited by Guarantee} INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF CREATE (ARTS) LIMITED {CONTINUED Other information The other information comprises the information included in the Annual Report other than the financial statements and our Auditors, Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except lo the extent otherwise explicitly staled in our report, we do not express any form of assurance conclusion Ihereon. Our responsibility is lo read the other information and, in doing so, consider whether the other information is materialty inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing lo report in this regard. Matters on which we are required to report by exception We have nothing lo report in respect of the following matters where the Charities IAccounts and Reports) Regulations 2008 reqLJires us to reFlOrt to you if, in our opinion". the lnfomiab.on given in the Directors, Report is inconsistent in any material respect with the financial statements., or sufficient accounting records have not been kept," or the financial statements are not in agreement with the accounting records and returns., or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the Directors, Responsibilities Statement, the Trustees (who are also the d1￿CtorS of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such intemal contml as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability lo Continue as a going concem, disclosing, as applicable, matters related to going eoneern and using the going concern basis of accounb'ng unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Page 16

CREATE (ARTS) LIMITED (A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CREATE (ARTS) LIMITED (CONTINUED)

Auditors’ responsibilities for the audit of the financial statements

We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors’ Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (Uk) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Enquiry of management and those charged with governance around actual and potential litigation and claims.

Enquiry of management and those charged with governance to identify any material instances of noncompliance with laws and regulations.

Reviewing financial statement disclosure and testing to supporting documentation to assess compliance with the applicable laws and regulatioris.

Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for evidence of bias.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors’ Report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditors' 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 charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

4 Juifan Flitter, FCA 7, ior Statutory Auditor rand on behalf of Goodman Jones LLP, Chartered Accountants and Registered Auditor 29/30 Fitzroy Square London W1T 6LQ Date: 1S/i2)202> ;

Goodman Jones LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

Page 17

CREATE (ARTS} LIMITED (A Company Limited by Guarantee} STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME AND EXPENDITURE ACCOUNTI Forthe Year Ended 31 March 2022 Unrestricted fund$ 2022 Restricted funds 2022 Total funds 2022 Total funds 2021 Note Income from: Donations and legacies Charitable activities Other trading activities Investments 123,546 74,711 49.734 3.693 617,341 143,988 740,887 218,699 49.734 3.693 793,698 142, 796 118,133 4,009 Total income 251,684 761,329 1,013,013 7,058,636 Expenditure on: Raising funds Charitsble activities 159.684 111.816 159.684 792.929 136, 140 687,786 681.113 Total expenditure 271,500 681,113 952,613 823,926 Net movement in funds 119,8161 80,216 60,400 234,710 Reconciliation of funds.. Total funds brought forward Nel movement in funds 684,372 119,8161 504,074 80,216 1,188,446 60,400 953, 736 234,710 Total funds carried forward 664.556 584.290 1,248,846 1, 188,446 The Statement of Financial Activities includes all gains and losses reeognised in the year. The notes on pages 21 to 33 form part of these financial statements. Page 18

CREATE IARTSI LIMITED IA Company Limited by Guarantee) Registered number.. 04728145 BALANCE SHEET As It 31 March 2022 2022 2021 Note Tangible assets 10 64.473 64,473 Current assets Debtors 45,454 1,347,106 38,123 1,222, 185 Cash al bank and in hand 1,392,560 1,260,308 Creditors." amounts falling due Within one year 12 1188,1871 (39.862) Not current assets 1,204,373 1,220,446 Total assots less current liabllltles 1,268,846 1,220,446 Provisions for liabilities 13 120.0001 (32,000) Total nèt assets 1.248,846 7,788,446 Charlty funds Re51ricled funds Unreslricled funds 14 584.290 504, 074 Designated funds General funds 14 14 149.473 515.083 150,000 534,372 Total unreslricled funds 14 664,556 684.372 Total funds 1,248,846 1, 188,446 The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect lo accounting records and preparation Df financial slalemenls. The financial statements have been prepared in accordance with the provisions applicable lo entities subject lo the small ¢ompanie5 regime. The financial statements were approved and aulhorised for issue by the Directors and signed on their behalf by". Eddie onaldson OBE Chairman Date.. É I I The notes on page5 2110 33 form part ol these financial slatemenls. Page 19

CREATE (ARTS} LIMITED (A Company Limited by Guarantee} STATEMENT OF CASH FLOWS Forthe Year Ended 31 March 2022 2022 2021 Cash flows from operating activities Nel cash used in operating activities 165,701 280, 148 Cash flows from investing activitios Bank interest received Purchase of tangible fixed assets 3,693 (44,473) 4,009 Net cash (used inllprovided by investing activities 140.780} 4.009 Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year 124.921 284.157 1,222,185 938,028 Cash and cash equivalgnts at tho end of the year 1.347,106 7,222, 185 The notes on pages 21 to 33 form part of these financial statements Page 20

CREATE (ARTS} LIMITED (A Company Limited by Guarantee} NOTES TO THE FINANCIAL STATEMENTS Forthe Year Ended 31 March 2022 General infomiation Create (Arts) Limited is a charitable company limited by guarantee incorporated in England and Wales. In the event of the company being wound up, the liability in respect of gLJarantee is limited to £1 per member of the charity. The address of the registered Offi￿ is 3rd Floor, 14 Austin Friars, London, EC2N 2HE. Accounting policies 2.1 Basls of preparatlon of flnanclal statements The financial statements have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Create {Artsl Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise slated in the relevant accounting policy notelsl. The financial ststemenls are presented in pounds sterling and rounded to the nearest pound.. 2.2 Golng concern The fi'nancial stslemenls have been prepared on a going concern basis as the trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern. 2.3 Income Recognltlon of Income Incoming resources from charitable activities have been analysed according lo the type of funding received as the charity has one main activity, which is the development and delivery of projects. Fees, sponsorship and event income Fees, sponsorship and event income are stated nel of discounts and VAT and are recognised on a receivable basis. Grants, donatlons and sponsorshlp Income from donations and grants is recognised when the charity is entitled to the funds, the receipt is probable and the amount can be measured reliably. For donations, this is usually on receipt. For grants, this is usually when a formal offer is made in writing, unless the grant contains terms and conditions outside of the charity's control which must be met before the charity is entitled to the funds. Much of the funding for Create's charitable work derives from grants, donations and sponsorship, whether from the public sector, companies, trusts and foundations, or individuals. Such support is often directed towards a particular event or project. Such receipts are accounted for as restricted funds and expenditure is matched against the income as incurred. Investment income is recognised when receivable Legacies Legacies are recognised on a receivable basis once the conditions for the receipt have been satisfied and the amount can be measured with certainty. Page 21

CREATE (ARTS} LIMITED (A Company Limited by Guarantee} NOTES TO THE FINANCIAL STATEMENTS Forthe Year Ended 31 March 2022 Accounting policies Icontinuedl 2.3 Income Icontinuedl Donated services Donated services are recognised when the value of the services is reasonably quantifiable and measurable. The valuation method used on the resources is the estimated value of the services to the charity. During the year the charity received HR and propety surveyor services. 2.4 Expenditure and liabilities Liabilities and related expenditure are recognised when a present legal or constructive obligation exists al the balance sheet date as a result of a past event, it is probable that a transfer of economic benefits will be required to settle the obligation and the amount can be measured reliably. Expenditure is allocated to the particular activity where the cost relates directly to that activity. The cost of overall direction and administration of the charity is included within the SLJPPOrt costs as part of the cost of charitable activities. Al resources expended are inclusive of irrecoverable VAT. Staff costs have been allocated to the expenditure headings on the basis of an estimate of the amount of time spent by staff members in each area. 2.5 Financial instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Short term debtors and creditors are measured at the setuement value. Any losses from impairment are recognised in the statement of financial activities. 2.6 Taxation The charity is exempl from Corporation Tax on its charitable activities. 2.7 Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Directors. Restricted funds can only be used for the particular purpose within the objects of the charity. Restrictions arise when specified by the donor or when funds are applied for a specific restricted purpose. In the majority of cases, restricted funds are those which have been received in the year but are required lo be applied lo projects which are not going to commence until the following year. If those projects do not proceed then in some cases those funds will have to be retumed. Designated funds are unrestricted funds which have been sel aside by the directors for an essential spend or future purpose. 2.8 Tangible fixed assets and depreciation Individual fixed assets costing £1,500 or more are capitalised at cost Tangible fixed assets are initially recognised al cost. After recognition, Ljnder the cost model, tangible fixed assets are measured al cost less accumLJlaled depreciation and any accumulated impairment losses. All costs incLJrred lo bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Page 22

CREATE (ARTS} LIMITED (A Company Limited by Guarantee} NOTES TO THE FINANCIAL STATEMENTS Forthe Year Ended 31 March 2022 Accounting policies Icontinuedl 2.8 Tangible fixed assets and depreciation Icontinuedl Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straighl-line method. Depreciation is provided on the following basis.. Fixtures and fittings Other fixed asset$ 200/0 200/0 2.9 Debtors Trade and other debtors are recognised al the Set￿ernent amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.10 Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acqLJisilion or opening of the deposit or similar account 2.11 Operating leases Rentals payable under operating leases are charged to the Statement of Financial Activities on a straight-line basis over the lease term. 2.12 Pensions Create (Arts) Limited has set up an auto enrolment compliant pension scheme into which the employees are enrolled. The pension cost in the financial statements represents the contributions payable by the charity during the year. 2.13 Provisions Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that the company will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. The amount recognised as a provision is the best estimate of the consideration required lo settle the present obligation at the reporting end dale, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to setue the obligation is recognised al present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in the period in which il arises. 2.14 Prior period adjustments Adjustments have been made to the prior period restricted fund balances due lo the incorrect classification of some of the Create (Arts) projects wi(hin last yearfs reslricled funds disclosure. Whilst the split of expenditure between 'Raising funds, and 'Charitable Aclivilies, has also been adjusted to CorreC￿Y reflect the fundrasing costs incurred in the year to 31 March 2021. Page 23

CREATE (ARTS} LIMITED (A Company Limited by Guarantee} NOTES TO THE FINANCIAL STATEMENTS Forthe Year Ended 31 March 2022 Income from donations and legacies Unrestricted Restricted funds funds 2022 2022 Total funds 2022 Total funds 2021 Donations and1￿8cleS Grants 70,896 52,650 6,027 611,314 76,923 663.964 257,267 536,437 Total 2022 123,546 617,341 740,887 793,698 Total 2021 360,274 433,424 793,698 Included in the above are grants received from Arts Council EnglandlNational Lottery, The Atherton Family Charitable Trust, Aylesbury Vale Community Trust, The Chartered Accountants, Livery Charity, The Clothworkers, Foundation, Didymus Charity, The Feathers Association, The February Foundation, John Lyon's Charity, Kusuma Trust, The London Community Foundation, The Mercer's Company & St Paul's Schools Foundation, The Percy Billon Charity, The Portal Trust, Postcode Community Trust, The Prince of Wales's Charitable Fund, Raise Your Hands, Rix Thompson Rothenberg Foundation (Bally Thomas Charitable Fund), The Rothschild Foundation, Sanlander UK Foundation Limited and the Sussex Community Foundation (Lawson Fund). Income from Charltable actlvltles Unrestrlcted Restrlcted funds funds 2022 2022 Total funds 2022 Total funds 2021 Fees for services Sponsorships 17,650 126,338 17,650 201.049 96,406 46,390 74,711 Total 2022 74,711 143,988 218,699 142,796 Total 2021 64,500 78,296 142, 796 Page 24

CREATE (ARTS} LIMITED (A Company Limited by Guarantee} NOTES TO THE FINANCIAL STATEMENTS Forthe Year Ended 31 March 2022 Income from other trading activities Ifundraisingl Income from non charitable trading activities Unrestricted Restricted funds funds 2022 2022 Total funds 2022 Total funds 2021 Community Fundraising CRE81N8 White Cube Gala Dinner BBC Radio 4 Appeal 3,707 15,071 30,956 3,707 15.071 30,956 22,666 12,806 4T,139 35,522 Total 2022 49,734 49,734 118,133 Total 2021 12,845 105,288 118,133 Expendlture on ralslng funds 2022 2021 White Cube 5,407 1,388 Create Livel For Business Gala Dinner Employee Costs Support costs Ibelowl 1,126 122,623 12,391 137.790 15,099 159,684 136, 740 Expenditure on charitable activities 2022 2021 Employee costs Direct costs of projects Support costs Ibelowl 398.031 186,693 208,205 374,997 164,083 148,706 792,929 687,786 Page 25

CREATE (ARTS} LIMITED (A Company Limited by Guarantee} NOTES TO THE FINANCIAL STATEMENTS Forthe Year Ended 31 March 2022 Support Costs 2022 2021 Employee costs Other staff related costs other staff related costs Idonaled} Insurance 59,536 1.517 55,297 1,048 227 1,671 41,788 3,689 956 2,939 50,716 46.517 Renuservice charge Other premises expenses Communicalionslbranding IT sothNare Idonaledl Consultancy fees Idonatedl Office costs Dilapidation costs Irrecoverable VAT Board meeting expenses Auditors remuneration Auditors remuneration for payroll serVI￿S General project costs Sundries 744 1,500 34,807 {20.000} 20,728 42 710 9,810 32,000 10,767 6.500 2,220 920 14,036 3,722 223,304 161,097 Net income Nel income is staled after charging.. 2022 2021 Auditors remunemtion for audit ServI￿S 6,500 2,220 920 Auditors remuneration for payroll serviTrs Rent paid under operating leases 50.716 41,788 Page 26

CREATE (ARTS} LIMITED (A Company Limited by Guarantee} NOTES TO THE FINANCIAL STATEMENTS Forthe Year Ended 31 March 2022 Staff cost$ 2022 2021 Wages and salaries Social security costs Contribution to defined contribution pension schemes 532,737 48,946 13.674 495,847 44,239 72,825 595.357 552,911 The average number of persons employed by the Charity during the year was as follows.. 2022 No. 2021 No. Project management Communications Development Management Finance 19 17 The number of employees whose employee benefits (excluding employer pension costs) eX￿eded £60,000 was.. 2022 No. 2021 No. In the band £70,001 - £80,000 None of the directors received remuneration during the year12021.' nonel. No expenses incurred by the directors were reimbursed. Expenses waived by the directors are immaterial. Page 27

CREATE (ARTS} LIMITED (A Company Limited by Guarantee} NOTES TO THE FINANCIAL STATEMENTS Forthe Year Ended 31 March 2022 10. Tangible fixed assets Office Fixtures and dilapidation rittings provision Total Cost or valuation Additions 44.473 20.000 64.473 At 31 March 2022 44,473 20,000 64,473 Net book value At 31 March 2022 44,473 20.000 64.473 At31 March 2021 The fixture and fitting's additions in the year of £44,473 were incurred wholly as a result of moving into new office premises. 11. Debtors 2022 2021 Due after more than ong year other debtors 19,471 19,471 Due within one year Trade debtors other debtors Prepayments and accrued income 5.750 1.755 18,478 8,000 18,518 11,605 45,454 38,723 Page 28

CREATE (ARTS} LIMITED (A Company Limited by Guarantee} NOTES TO THE FINANCIAL STATEMENTS Forthe Year Ended 31 March 2022 12. Creditors: Amounts falling due within one year 2022 2021 Trade creditors Other taxation and social security Other creditors Accruals and deferred income 30,130 15,627 21,100 14,448 2,114 2,200 142.430 188,187 39,862 13. Provisions Provision for dilapidation At 1 April 2021 Additions Amounts used Amounts reversed 32.000 20,000 112,0001 120.0001 20.000 The charity moved into new Offi.￿s in December 2021 and are required to restore the premises to its original condition at the end of the lease term. The eslimaled cost of this work is £20,000. Page 29

CREATE (ARTS} LIMITED (A Company Limited by Guarantee} NOTES TO THE FINANCIAL STATEMENTS Forthe Year Ended 31 March 2022 14. Statement offunds Statement offunds- currentyear Balance at 31 March 2022 Balance at 1 April 2021 Transfers inlout Income Expenditure Unrestricted funds Designated funds Implementation of a new CRM Development of a new website Office relocation costs Fixed Asset fund 85.000 15,000 50,000 85.000 16,4051 59,0371 8,595) 9,037 64.473 64.473 150,000 165,4421 64,915 149,473 Balance at 31 March 2022 Balance at 1 April 2021 Transfers inlout Income Expenditure General funds General Funds - all funds 534,372 251,684 {206,0581 164,915) 515,083 Total Unrestrlcted funds 684.372 251.684 {271,5001 664.556 Balance at 31 March 2022 Balance at 1 Aprll 2021 Transfers Inlout Income Expendlture Restricted funds Marginalised children & adults Vulnerable older people Nurturing Talent Young & adults carers Young patients Disabled children & adults Young & adult prisoners crealive.'vision Schoolchild￿n in areas of deprivation 15,123 57,353 20.477 224.550 32,772 36,190 25.288 87.473 25,500 77,669 145,6231 {103,0941 118.4891 {367,6311 125,2681 45,4941 123.1921 147.4741 5,000 31,928 1.988 283.599 7,504 211,318 17.953 30.000 426,680 215,123 15,857 500 5,499 {10,499} 4,848 14,8481 504.074 761,329 {681.1131 584.290 Page 30

CREATE (ARTS} LIMITED (A Company Limited by Guarantee} NOTES TO THE FINANCIAL STATEMENTS Forthe Year Ended 31 March 2022 14. Statement of funds Icontinuedl Total of funds 1,188,446 1,013,013 {952,6131 1,248,846 statement of funds - prior year Balan￿ at 31 March 2021 Balan￿ at As restated As restated l April 2020 Income Expenditure Transfers in/oul Unrestricted funds Dosignated funds Implementation of a new CRM Development of a new website Office relocation costs Director of Communications Post 85,000 15,000 50,000 85,000 75,000 50,0(10 40,000 (40,OOOJ 40,0(K) 110,000 150,000 General funds General Funds 521,079 441,628 (338,335) {90,OOOJ 534,372 Total Unrestricted funds 561,079 (338,335) 20,000 684,372 Balance at 31 March 2021 Balance at As restated As reslat&d l April 2020 Incomg Expenditure Transfers in/oul Restricted funds Marginalised children & adults Vulnerable older people Nurturing Talent Young & adults carers Young patients Disabled children & adults 7, 750 46,951 20,373 63,399 20,477 370,105 3,498 42,005 8,625 98,222 (26, 125) (48, 149) 1,998 62,201 20,477 237,675 32,772 38,190 23,288 87,473 179,931 31,774 91,440 24,963 (374,861) 2,500 (2,500) {15,OOOJ (5,OOOJ (80,255) {5,3(X)) f70, 749) Young & adult prisoners crealive.'vision Schoolchildren in areas of deprivation 9,848 (9,848) Page 31

CREATE (ARTS} LIMITED (A Company Limited by Guarantee} NOTES TO THE FINANCIAL STATEMENTS Forthe Year Ended 31 March 2022 14. Statement of funds Icontinuedl Statement of funds - prior year Icontinuedl Balance at 31 March 2021 Balance at As restated As restated l Apnl 2020 Income Expenditure Transfers in/oul 392,657 626, 704 (495,28T) (20,OOOJ 504,074 Total of funds 953, 736 626, 704 (833,622) 1, 188,446 15. Anatysls of net current assets between funds Unrestrieted Restricted funds funds 2022 2022 Total funds 2022 Current year Nel current assets 539,296 120,0001 765,077 1,304.373 120.0001 Provisions 519,296 765,077 1,284,373 Unrestricted Restricted funds funds 2021 2021 Total funds 2021 Prior year Nel current assets 716,372 132,0001 504,074 1,220,446 132.0001 Provisions 684,372 504,074 1,188,446 Page 32

CREATE (ARTS} LIMITED (A Company Limited by Guarantee} NOTES TO THE FINANCIAL STATEMENTS Forthe Year Ended 31 March 2022 16. Operating lease commitments At 31 March 2022 the Charity had commitments to make fijture minimum lease payments under non- cancellable operating leases as follows". 2022 2021 Not later than 1 year Later than 1 year and not later than 5 years 64.902 243,383 30,318 308,285 30,318 17. Related party transactlons During the year the Charity made payments of £1,780 to Carol Topolski 12021.. £1,805) and £5,725 10 Holly Khan 12021.. nil) in relation to the ServI￿S they provided on projects as a writer and musician respectively. Neither were paid in their role as Trustees. In aggregate, the trustee donations tolalled £21,76712021'. £135,272). The Key management personnel of Create in charge of planning, directs'ng and controlling the charity and running it on a day lo day basis comprise the Board of Trustees, Chief Executive and Senior Management Team. The total remuneration payable to key management personnel 161 during the year was £316,9481202116 personnell £304,206). Page 33