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2024-03-31-accounts

CREATEI CREATE (ARTS) LIMITED FINANCIAL STATEMENTS for the year ended 31 MARCH 2024 Goodman Jones

CREATE (ARTS) LIMITED

ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

Company Number 4728145
Charity Registration Number 1099733
Eddie Donaldson OBE (until 31/03/24)
Chairman Tony Cates (from 01/04/24)
Chief Executive (CEO) Nicky Goulder
Company Secretary Vanessa Sharp
Treasurer Paul Thimont
Registered Office 3rdFloor
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 / X (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 2024

Page
Directors' report 1
Statement of Directors’ responsibilities 14
Auditors' report 15
Statement of financial activities 19
Balance sheet 20
Statement of cash flows 22
Notes to the financial statements 23

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 2024. 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

A society in which everyone has access to the educational, social and life-enriching benefits of the creative arts.

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

People Need to Create. Create’s work has never been more important. Creativity impacts wellbeing, emotional and mental health. It builds skills, brings joy and reduces isolation. It allows us to think differently, to express ourselves and to be heard. It enables us to learn about ourselves and others in new ways. It inspires, empowers and raises aspirations. And, according to industry leaders including the World Economic Forum, it is a core skill for business.

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.

Create is 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.

Create’s 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 eight participant groups: young psychiatric hospital patients; disabled children and adults; young and adult carers; children in care and young care leavers; 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+ older people, young refugees and asylum seekers).

Since Create was founded on 07/07/03, the charity has run 14,494 creative arts workshops that have delivered 373,398 contact hours as part of sustained, life-changing programmes with 45,775 participants.

Some of our programmes are developed and delivered in partnership with the business community, helping to meet their Responsible Business priorities. Every programme is rigorously evaluated because we’re passionate about providing inspiring and empowering creative experiences that have a lasting impact. Additionally, in 2023/24 we commissioned consultancy Partnership First to undertake an evaluation of Create’s Social Value. This included the statistical data collected across the year; a survey of key stakeholders; and in-depth interviews.

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 provide an important means of self-expression for a young person experiencing anxiety or depression.

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

Create lights that spark.

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.

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Project participants

To fulfil Create’s commitment to working with the most disadvantaged and vulnerable children and adults, 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 are eligible for 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 2023/24, 2,097 participants directly benefited from Create’s projects. These included: young psychiatric hospital patients; young carers, young adult carers and adult carers; children and adults with mental ill-health; disabled children and adults; young asylum seekers and refugees; survivors of modern slavery; prisoners; inner-city schoolchildren; isolated older people; and children in care / young care leavers. Create worked with (where data provided):

Volunteers

109 volunteers donated 668 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 or Creative Council members. Pro bono Social media management system was donated by Metricool; PR advice by Hawthorn Advisors; a 20[th] anniversary event by Reed Smith LLP; and meeting/event space by Aesop, Barnett Waddingham LLP and Simply Business.

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Achievements and Performance

54 professional Create artists ran 19 programmes (an umbrella body of work) within which 91 projects (a series of workshops with one or more community partners) were designed. These delivered 1,175 workshops / 21,596 contact hours with 2,097 participants; and were rated “successful overall” by 99% of community partner staff.

Create turned 20 on 7 July 2023, and this report covers most of the landmark anniversary year, which has been one of exciting developments. Although much has changed over the past 20 years, Create’s vision has stayed the same: for a world in which everyone has access to the educational, social and lifeenriching benefits of the creative arts. Since 2003, Create has delivered 14,494 workshops that have brought joy, skills, inspiration, connection and wellbeing to 45,775 of the UK’s most disadvantaged and vulnerable children and adults.

It was inspiring to see growing awareness of the unique and valuable benefits that creativity brings for both individuals and wider society. Create’s ‘Feeding Creativity’ campaign with Jacksons of Yorkshire launched on three million loaves across the UK in 07/23. This included a nationwide poll, which provided further evidence for the importance of Create’s mission. Ninety-three percent of Brits surveyed said that creativity is important to their wellbeing, while 28% and 27% respectively said that lack of inspiration and insufficient money were barriers to creativity. That’s where Create comes in, delivering free, professionally-run creative arts projects with those who need them most.

During the year, Create launched programmes with two important new groups of participants: children in care/young care leavers; and survivors of modern slavery.

Following the launch of the Manchester hub in 2021, the charity continued to expand its work across the North West and beyond. A highlight was the creative:connection music showcase in October 2023, in which 57 disabled and non-disabled children from Manchester/Salford performed a series of new pieces that they had created with Create musicians as part of Manchester Literature Festival. This was featured on BBC Radio Manchester.

During the February 2024 half term, the charity delivered a Young Carers Action Day (YCAD) programme in partnership with Carers Trust for the fourth year running. Themed around “Fairer Futures for Young Carers”, projects took place in Bromley, Cheshire, Sefton and Uxbridge, upskilling young carers in animation, music, photography and puppetry. The programme culminated in an online Showcase on 13 March 2024, putting young carers’ voices at the heart of YCAD. Participants shared the artwork, films and music that they had created with an audience of parents and guardians, staff and Trustees from Carers Trust, Create and their carer services, and other invited guests.

Create’s prison work was recognised with three Koestler awards; its work with young carers won the prestigious Children & Young People Now Highly Commended award; and founding CEO Nicky Goulder was crowned “Arts Innovator” in Women&Home’s Amazing Women Awards 2023.

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 programmes are 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

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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 formal feedback from each programme 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/wellbeing enhancement was rated successful by between 87% and 98% of participants and 96% and 100% of community partner staff.

Participant skill development / wellbeing / overall project rating (%)

Create 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 special educational needs, disability and accessibility; and on children in care / young care leavers respectively. Attendees commented:

“It’s been great to share and engage with different activities that open up discussions of accessibility within a creative process.” / “It was great to start from an immersive experience and then open up a discussion about how people felt and how accessibility played a role in the activity.” / “Makaton workshop was really helpful and a practical tool to make communication more accessible.” / “The day provided lots of information and interesting insights.” / “It was great to hear about the care system and how these workshops impact the young people.”

Create ran the eighth 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 six emerging artists the opportunity to work as supporting artists on a range of projects, attend professional development training days and work in pairs to design and deliver their own workshop in a community setting. Each artist received a bursary and collectively supported 212 workshops across the year. One Nurturing Talent artist commented:

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“As an artist your main focus is your own creativity. What this programme has taught me is how to harness aspects of my practice that I can use to encourage others to find their own voices. It’s enabled me to shift my focus outwards and given me the tools to inspire others.”

Create’s income was secured via the development of new relationships (with organisations including: City Bridge Foundation; Deborah Loeb Brice Donor Advised Fund at CAF; Hollick Family Foundation; Jacksons of Yorkshire, M&G); the strengthening of significant existing relationships (including: Aesop Foundation; Anthropologie; Ashurst LLP; Atherton Family Charitable Trust; British Land; John Lyon's Charity; Kusuma Trust UK; Raise Your Hands; Reed Smith LLP; Santander UK Foundation Limited; Sarah Jane Leigh Charitable Trust; Smiles Fund by Comic Relief and Walkers; The Charity of Sir Richard Whittington; The Chartered Accountants' Livery Charity; The London Community Foundation); the generous support of dozens of other trusts, foundations, companies and individuals; community fundraising; in memoriam gifts; and events.

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 are non-Founding Change Makers/Community members or wish to remain anonymous), who together donated over £66.7k:

Business Members: Brown-Forman; Mediaworks; Salt; Straight Forward Design; Zealot. Individual Members: Champion ~ Tony Cates; Alistair DK Johnston CMG; Tim and Claire Jones. Catalyst ~ Anne Baldock; Eddie Donaldson OBE. Curator ~ Inez Anderson; Gareth Davies; Philip Emery; Sean Hanson; Adam McNeeny; Susan Paul; Colin Sheaf; Mark Sismey-Durrant; Chris and Vanessa Turpin. Connector ~ Richard Schreiber; Vanessa Sharp. Change Maker (Founder Members) ~ Nicky Goulder; Marit Meyer-Bell. Community (Founder Members) : John Broadis; Carol Topolski; Michael Topolski.

A vital part of Create’s work is its partnerships with the business community, which enables companies to meet their Responsible Business objectives while helping Create to achieve its mission. Companies including Anthropologie, Ashurst, BNP Paribas, Jacksons of Yorkshire, M&G and Reed Smith provided 73 volunteers to support projects that they funded, bringing a wealth of experience and expertise to workshops, acting as positive role models for the participants, developing new skills and experiences to take back to their workplace, and enhancing their wellbeing.

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Create increased its profile through high quality communications that helped to raise the profile of the importance of the creative arts, and to position the charity as a leader in its field and the CEO as an expert voice. This included significant national press coverage around the campaign with Jacksons of Yorkshire, the creative:connection showcase featured on BBC Radio Manchester, the CEO featured on the Can Art Save Us Podcast, and coverage of ‘Foxes Don’t Paint’, Fold7’s delightful book inspiring creativity in children, released in support of Create, including on BBC Radio London.

In 02/24, Create commissioned consultancy Partnership First to undertake an independent evaluation of the charity’s Social Value for the participants, organisations and communities with which it works, and the professional artists who deliver this work. In determining Create’s Social Value, Partnership First used a broad evidence base, including data collected from participants and Community Partner staff, a Social Value Survey completed by 64% of the 122 Community Partners, 52 Artists and six Corporate Partners who received it, and focus groups. The report found:

Key Groups / Example Projects

During the year, Create developed and delivered 91 projects, examples of which are included below.

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

Children in care / … improved self-expression, self-belief and relationship-building young care leavers

"All the staff were really welcoming and I really appreciate that. Thank you so much for appreciating me for me." Participant

Through the new our:voices programme, 50 children in care / young care leavers participated in music making, song-writing and film making workshops in the London Boroughs of Bromley and Waltham Forest.

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

"We’ve been making things, making friends and having fun. It’s been absolutely magical." Participant

More Creative project in the London Borough of Southwark brought together 10 disabled adults from Bede House with 11 children from John Keats Primary school to explore ceramics, drawing and maskmaking. This helped to build shared understanding, trusting relationships, social skills, creativity and confidence.

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

“It is so important to have workshops like these in schools. It makes children feel so good about themselves and they learn so much.” Teacher

Create delivered 274 creative workshops with 588 disabled children. creative:connection brought together disabled and non-disabled children in London, Manchester and Salford. changing:minds and community:matters projects worked with SEND school children and young adults in London. environment:matters and environment:tales programmes delivered climate-themed projects in 10 SEND schools in Cumbria, Leeds, London and Manchester. On 26/02/24, environment:matters Brent culminated in a music showcase at Bridge Park Community Centre attended by an audience of 117.

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

“The project has been educational. It might give me a chance in the future to do something else with what I’ve learnt. I really enjoyed it. It gives me a break from everything else I do.” Participant

creative:release and creative:voices programmes delivered both in venue and remotely via Create Live! reduced the isolation of 235 adult carers in Edinburgh, Glasgow, Kent, London, Manchester, Sefton, and Wigan and Leigh. Working collaboratively, participants explored their creativity, took a break from their caring responsibilities, built trusting relationships with other carers, and developed social skills and confidence.

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

“Projects like this help young carers because they get our minds away from things and really distract us.” Participant

340 workshops were delivered across our art:space, change:matters, community:matters and inspired:arts . These enabled 533 young carers to develop their skills, enhance their creativity, build their confidence, connect with their peers, enjoy a break from their caring responsibilities and build their financial literacy ( change:matters only). A showcase on Young Carers Action Day (13/03/24) in partnership with Carers Trust put young carers’ voices at the heart of the awareness day.

… gave prisoners space to express themselves, build financial skills, and create Prisoners stories to connect them with their children

“I think the fact that we all got together as a group was good. Teamwork is something that we don’t really do in prison. But it’s good actually to do it. You have to work as a team, try and get on with everyone. I think it was a good group, so nobody was overpowering. Everybody had an opinion, but everyone was willing to let it go for the greater good.” Participant

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104 male and female prisoners were reached across four prisons through Free Inside , Inside Change , Inside Stories and My Dad’s in Prison , enabling them to dance, take photographs, write illustrated stories for their children and develop their financial literacy skills through radio drama.

Older people

… reduced isolation, fostered imagination and increased self-worth

“My favourite thing about the project was just coming here, and not being stuck indoors. I can’t push myself around, and my carer is not with me 24/7. So just coming here, and seeing what we can do. And the people as well. It was good. It was enjoyable, I’ve enjoyed it.” Participant

art:links, creative:engagement and creative:links improved the quality of life of 334 isolated older people across London and Greater Manchester, many living with dementia, enabling them to express themselves creatively, build new skills, connect with others and have fun.

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

“This is so relaxing. This is the calmest I’ve felt in weeks. I felt happy after the sessions.” Participant

creative:tandem empowered 84 young people who have been admitted to mental health units due to serious conditions, including psychotic, depressive, anxiety and eating disorders, self-harm or suicidal thinking. Create’s professional artists brought art, drama, film making, photography and music into four hospital units in London and Manchester, enabling the young people to build new skills, new relationships and self-esteem, enhancing their wellbeing.

Adults with mental … provided a social and creative outlet, enhancing self-worth ill health

“The sessions felt like a mini-retreat: a chance to relax, pause, pay attention, and be creative.” Participant

Creating Library Connections , a partnership with Chichester Library, brought together 11 adults who attend three local mental health services. They worked with Create’s professional photographer and writer over two weeks to produce an impressive body of work inspired by Chichester, its library and its collection of books. The project culminated in an exhibition and poetry performance.

Young refugees and … encouraged self-expression and built a sense of community migrants

“I made new friends and existing friendships stronger.” Participant

community:matters , a partnership with Salusbury World, gave 59 refugee and migrant children in Brent a chance to build skills, develop creative thinking and self-expression, and connect with others.

Survivors of … used creativity as a powerful form of self-expression modern slavery

“It’s a good feeling thinking about my next chapter. It’s a nice thing to put into our paintings.” Participant

Art is Freedom , a partnership with Ashurst and Hestia, enabled 17 survivors of modern slavery to create powerful artwork that gave them a means of self-expression and a voice. The programme raised awareness of modern slavery through an exhibition of the artwork across London including a display on Piccadilly Lights on Anti-Slavery Day (18/10/23)

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Plans for 2024/25

Create’s 20[th] anniversary year will conclude on 06/07/24, drawing 12 months of celebrations to a close with the launch of two important new initiatives: Create Week from 1-7/07/24, a week-long event to celebrate creativity and its importance for the wellbeing of individuals, organisations and society as a whole; and Create Conversations on 02/07/24, an online event to encourage constructive discussions on the role of creativity in society and raise awareness of the importance of making the creative arts available to everyone.

The charity will enter year four of its ambitious seven-year strategic plan with the aim of doubling the reach and impact of its work by its 25[th] anniversary in 2028. Its participants will remain the driving force behind its work and Create will continue to meet its commitment to developing sustained, life-changing programmes by returning to many of the carer services, day centres, prisons, schools, children’s psychiatric hospital units and other community settings with which it collaborated during 2023/24.

Create has a series of important initiatives planned that will extend its work geographically and with new partners. This includes further expansion its work from the NW hub, successfully established in Manchester during 2021, reaching participants in areas of high deprivation across Greater Manchester, Merseyside and beyond. In addition, the charity will build on the work developed in 2023/24 with two important new participant groups: survivors of modern slavery; and children in care / young care leavers.

Create is delighted to have been selected by The Reading Agency as its partner organisation for the 2024 Summer Reading Challenge. Delivered in collaboration with 92% of Library Authorities across the UK, this aims to fire up children’s imaginations and unleash creativity through the power of reading. From June to September, children taking part in ‘Marvellous Makers’ will discover new stories, get to meet seven creative characters (above), join in with free activities at the library, and explore their creativity – from junk modelling to music, dance to drawing and painting – via activities devised by Create artists. 700,000 children are expected to take part.

With the climate crisis arguably the most significant global challenge over the next decade and beyond, there is an urgent need to educate people on environmental issues. Create has taken its environmental responsibility seriously for 21 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 2024/25, it will deliver its environmental programmes - environment:matters – at special needs schools in Greater Manchester and London.

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Create will continue to offer community partners a blended approach of Create Live! (Zoom) and invenue 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, sickness or geographical remoteness, being able to join workshops over Zoom helps to keep them connected, empowered, inspired and upskilled, reducing isolation and enhancing wellbeing.

In autumn 2024, the charity will commission consultancy Partnership First to undertake the final piece of its evaluation review - the collection of feedback from participants, community partners, artists and volunteers - to ensure that this provides the most robust evidence base to assess impact. In spring 2025, Partnership First will undertake a review identifying and evaluating Create’s social value through its workshop programme and wider engagement with key stakeholders during 2024/25. This will include a survey of stakeholders and analysis of impact data collected across the year.

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 2024, the first of these will focus on “wellbeing/active listening”; the second on “special educational needs / disabilities”. Six artists have been accepted onto the Nurturing Talent programme, which upskills emerging artists, enabling them to acquire experience and to benefit from high-quality mentoring, training and practical workshop assistance.

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 31/03/24 were £731.1k, of which £117.8k is held in designated funds to support: the development of a CRM system; as a fixed asset fund; a legacy fund; the creative:connection programme; and project equipment. The balance of £613.3k represents 4.75 months of budgeted expenditure for 2024/25.

This crucial level of reserve – given the continued uncertainty resulting from the cost of living crisis and impending general election, and the volatility of the current economic situation – together with restricted reserves at 31/03/24 of £540.5k (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.

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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 CEO 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 and Finance & General Purposes Councils are each chaired by a member of the Board.

Key management personnel

Day to day operations are managed by the CEO, Nicky Goulder and her team of 20 staff. Five of these are on the Senior Leadership Team with her: Director of Communications; Director of Finance & Operations; Director of Programmes; Head of Development (Corporate); Head of Development (Grants).

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 consider cost of living rises 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 CEO. 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 Responsible Business 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.

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:

Mitigation : A Senior Leadership Team covers the core areas of communications, finance, fundraising, operations and projects, and provides support to the CEO as well as continuity in times of absence. As the charity continues to grow that resource is monitored.

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• 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 the current economic climate, it needs to be alert to changing funding demands and policies.

Mitigation : The CEO has a proven fundraising track record; fundraising is overseen by a Development team of four; longer-term funding is being developed; Create has a proven ability to meet fundraising targets.

Poor staff wellbeing

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 an increased priority since lockdown with the team dispersed due to hybrid working. Initiatives have included wellbeing training; creative activities; project offloads; additional leave; and team socials.

Directors

The following served as Directors during the year:

John Broadis Tony Cates Eddie Donaldson OBE Holly Khan (Monica Robinson) Marit Meyer-Bell Vanessa Sharp Paul Thimont Carol Topolski Simone Wright

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

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Statement of Directors’ responsibilities

The trustees (who are also directors of Create (Arts) Limited for the purposes of company law) are responsible for preparing the Trustees' Report (incorporating the directors’ report) and the financial statements in accordance with 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 Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of Disclosure to Auditor

In so far as each of the Directors is aware:

Auditors

In accordance with section 485 of the Companies Act 2006, appointment of auditors to the company will be put to the Annual General Meeting of Members.

This report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime in Part 15 of the Companies Act 2006.

By Order of the Board

Tony Cates Chairman 05/12/24

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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 (Arts) Limited (the 'charitable company') for the year ended 31 March 2024 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 Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to 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 to provide a basis for our opinion.

Conclusions relating to going 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 charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

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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 to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially 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 to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Directors' Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control 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 to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

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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 144 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:

Based on our understanding of the charity and sector, we identified that the principal risks of non-compliance with laws and regulations related to sector regulations and unethical and prohibited business practices, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities Act 2011, Companies Act 2006, Charity Commission and sector regulations, and UK Tax Legislation. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls). Appropriate audit procedures in response to these risks were carried out. These procedures included:

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members; and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

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.

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

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

Use of our report

This report is made solely to the charitable company's trustees, 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 trustees 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.

Julian Flitter, FCA

Senior Statutory Auditor For and on behalf of Goodman Jones LLP, Chartered Accountants and Registered Auditor 1st Floor, Arthur Stanley House 40-50 Tottenham Street London W1T 4RN

Date: 10-12-24

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

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CREATE (ARTS) LIMITED

(A Company Limited by Guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) For the Year Ended 31 March 2024

Note
Income from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investments
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2024
£
437,882
37,737
13,357
35,721
524,697
115,756
407,467
523,223
1,474
729,623
1,474
731,097		 Restricted
funds
2024
£
559,911
147,321
5,200
-
712,432
-
725,252
725,252
(12,820)
553,273
(12,820)
540,453		 Total
funds
2024
£
997,793
185,058
18,557
35,721
1,237,129
115,756
1,132,719
1,248,475
(11,346)
1,282,896
(11,346)
1,271,550		 Total
funds
2023
£
949,321
165,405
10,552
13,505
1,138,783
126,948
977,785
1,104,733
34,050
1,248,846
34,050
1,282,896

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 23 to 37 form part of these financial statements.

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CREATE (ARTS) LIMITED (A Company Limited by Guarantee) Registered number: 04728145

BALANCE SHEET As at 31 March 2024

Note
Fixed assets
Tangible assets
10
Current assets
Stocks
11
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within one
year
13
Net current assets
Total assets less current liabilities
Provisions for liabilities
Total net assets
Charity funds
Restricted funds
15
Unrestricted funds
Designated funds
15
General funds
15
Total unrestricted funds
15
Total funds		 50,000
99,642
1,262,735
1,412,377
(159,090)
117,812
613,285		 2024
£
38,263
38,263
1,253,287
1,291,550
(20,000)
1,271,550
540,453
731,097
1,271,550		 50,000
128,887
1,274,147
1,453,034
(201,506)
139,743
589,880		 2023
£
51,368
51,368
1,251,528
1,302,896
(20,000)
1,282,896
553,273
729,623
1,282,896

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CREATE (ARTS) LIMITED (A Company Limited by Guarantee) Registered number: 04728145

BALANCE SHEET (CONTINUED)

As at 31 March 2024

The Charity's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The Trustees consider that the Charity is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the Charity to obtain an audit for the period in question in accordance with section 476 of the Act. However, an audit is required in accordance with section 144 of the Charities Act 2011. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf, by:

Tony Cates Chairman Date: 09-12-24

The notes on pages 23 to 37 form part of these financial statements.

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

STATEMENT OF CASH FLOWS
For the Year Ended 31 March 2024
Cash flows from operating activities
Net cash used in operating activities
Cash flows from investing activities
Bank interest received
Net cash provided by investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
The notes on pages 23to 37form part of these financial statements		 2024
£
(47,132)
35,720
35,720
(11,412)
1,274,147
1,262,735		 2023
£
(86,464)
13,505
13,505
(72,959)
1,347,106
1,274,147

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

NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 March 2024

1. General information

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 guarantee is limited to £1 per member of the charity. The address of the registered office is 3rd Floor, 14 Austin Friars, London, EC2N 2HE.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Create (Arts) 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 stated in the relevant accounting policy note(s).

The financial statements are presented in pounds sterling and rounded to the nearest pound.

2.2 Going concern

The financial statements 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

Recognition of income

Incoming resources from charitable activities have been analysed according to 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 net of discounts and VAT and are recognised on a receivable basis.

Grants, donations and sponsorship

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.

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

NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 March 2024

2. Accounting policies (continued)

2.4 Expenditure and liabilities

Liabilities and related expenditure are recognised when a present legal or constructive obligation exists at 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 support costs as part of the cost of charitable activities. All 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.

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

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 settlement value. Any losses from impairment are recognised in the statement of financial activities.

2.6 Taxation

The charity is exempt 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 to be applied to 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 returned.

Designated funds are unrestricted funds which have been set aside by the directors for an essential spend or future purpose.

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

NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 March 2024

2. Accounting policies (continued)

Individual fixed assets costing £1,500 or more are capitalised at cost.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings - 20%
Office equipment - 20%
Other fixed assets - 20%

2.9 Debtors

Trade and other debtors are recognised at the settlement 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 acquisition or opening of the deposit or similar account.

2.11 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.12 Operating leases

Rentals payable under operating leases are charged to the Statement of Financial Activities on a straight-line basis over the lease term.

2.13 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.

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

NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 March 2024

2. Accounting policies (continued)

2.14 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 to settle the present obligation at the reporting end date, 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 settle the obligation is recognised at 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 it arises.

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

NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 March 2024

3. Income from donations and legacies

Donations and legacies
Grants
Total 2024
Total 2023		 Unrestricted
funds
2024
£
147,901
289,981
437,882
274,272		 Restricted
funds
2024
£
-
559,911
559,911
675,049		 Total
funds
2024
£
147,901
849,892
997,793
949,321		 Total
funds
2023
£
102,736
846,585
949,321

Included in the above are grants received from Aesop Foundation, The Atherton Family Charitable Trust, The Charity of Sir Richard Whittington, City Bridge Foundation, Deborah Loeb Brice Donor Advised Fund at CAF, Hollick Family Foundation, John Lyon's Charity, Kusuma Trust, The London Community Foundation, Raise Your Hands, Royal Borough of Kensington and Chelsea’s Arts Grants Scheme, Santander UK Foundation Limited, Sarah Jane Leigh Charitable Trust, Smiles Fund by Comic Relief.

4. Income from charitable activities

Fees for services
Sponsorships
Total 2024
Total 2023		 Unrestricted
funds
2024
£
-
37,737
37,737
23,962		 Restricted
funds
2024
£
-
147,321
147,321
141,443		 Total
funds
2024
£
-
185,058
185,058
165,405		 Total
funds
2023
£
11,470
153,935
165,405

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

NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 March 2024

5. Income from other trading activities (fundraising)

Income from non charitable trading activities

Community Fundraising
Create Live! For Business
Total 2024
Total 2023
6.
Expenditure on raising funds
Fundraising / Cultivation Events
Employee Costs
Support costs (below)
7.
Expenditure on charitable activities
Employee costs
Direct costs of projects
Support costs (below)		 Unrestricted
funds
2024
£
13,357
-
13,357
10,552		 Restricted
funds
2024
£
-
5,200
5,200
-		 Total
funds
2024
£
13,357
5,200
18,557
10,552
2024
£
-
78,644
37,112
115,756
2024
£
586,441
335,979
210,299
1,132,719		 Total
funds
2023
£
7,483
3,069
10,552
2023
£
1,714
98,891
26,343
126,948
2023
£
495,273
261,232
221,280
977,785

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

NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 March 2024

.
Support Costs
Employee costs
Other staff related costs
Insurance
Rent/service charge
Other premises expenses
Communications/branding
IT software
Payroll Costs
Office costs
Irrecoverable VAT
Depreciation
Auditors remuneration
Finance Support Services (donated)
General project costs
Sundries		 2024
£
73,898
4,697
2,242
67,238
23,492
5,113
19,215
880
-
26,712
13,105
10,000
-
-
819
247,411		 2023
£
55,030
3,133
2,870
66,036
15,352
2,222
732
-
58,220
20,559
13,105
6,500
500
2,418
946
247,623

8. Net income Net income is stated after charging:

Auditors remuneration for audit services
Rent paid under operating leases		 2024
£
10,000
48,677
58,677		 2023
£
6,500
48,677
55,177

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

NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 March 2024

9. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2024
£
660,308
60,510
18,165
738,983		 2023
£
580,046
53,574
15,574
649,194

The average number of persons employed by the Charity during the year was as follows:

Project management
Communications
Development
Management
Finance		 2024
No.
11
2
4
3
1
21		 2023
No.
9
2
5
3
1
20

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

2024 2023
No. No.
In the band £70,001 - £80,000 1 1

None of the directors received remuneration during the year (2023: none). No expenses incurred by the directors were reimbursed. Expenses waived by the directors are immaterial.

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

NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 March 2024

10. Tangible Fixed Assets

11.
12.		 Fixtures
and fittings		 Office
dilap.
provision		 Total

£		 £ £
Cost or valuation
At 1 April 2023 44,473 20,000 64,473
At 31 March 2024 44,473 20,000 64,473
Depreciation
At 1 April 2023 8,895 4,210 13,105
Charge for the year 8,895 4,210 13,105
At 31 March 2024 17,790 8,420 26,210
Net book value
At 31 March 2024 26,683 11,580 38,263
At 31 March 2023 35,578 15,790 51,368
Stocks
Artwork donated for resale
Debtors
Due after more than one year
Other debtors
Due within one year
Trade debtors
Other debtors
Prepayments and accrued income		 2024
£
50,000
2024
£
19,471
19,471
17,171
-
63,000
99,642		 2023
£
50,000
2023
£
19,471
19,471
32,541
1,357
75,518
128,887

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

NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 March 2024

13. Creditors: Amounts falling due within one year

Trade creditors
Other taxation and social security
Accruals and deferred income
14.
Provisions
Office dilapidation provision
At 1 April 2023
At 31 March 2024		 2024
£
28,614
21,436
109,040
159,090
20,000
20,000		 2023
£
28,278
15,230
157,998
201,506
20,000
20,000

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

NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 March 2024

15. Statement of funds

Statement of funds - current year

Balance at 1 Balance at 31 Balance at 31
April 2023 Income
Expenditure		 March 2024
£ £ £ £
Unrestricted funds
Designated funds
Implementation of a new CRM 80,500 - (38,790) 41,710
Fixed Asset fund 51,368 - (13,105) 38,263
Charles Lloyd-Jones Legacy Fund 7,875 - (1,575) 6,300
creative:connection - 20,539 - 20,539
Project Equipment - 11,000 - 11,000
139,743 31,539 (53,470) 117,812
General funds
General Funds - all funds 589,880 493,158 (469,753) 613,285
Total Unrestricted funds 729,623 524,697 (523,223) 731,097
Restricted funds
Marginalised children & adults 11,000 71,662 (33,356) 49,306
Vulnerable older people 57,648 100,135 (104,801) 52,982
Nurturing Talent - 15,500 (14,572) 928
Young & adults carers 321,738 319,319 (326,458) 314,599
Young patients 12,514 47,028 (52,681) 6,861
Disabled children & adults 116,421 119,709 (154,719) 81,411
Young & adult prisoners 33,952 15,340 (30,620) 18,672
Manchester Hub - 15,694 - 15,694
Create Live! For Business - 5,200 (5,200) -
Capital - 2,845 (2,845) -
553,273 712,432 (725,252) 540,453
Total of funds 1,282,896 1,237,129 (1,248,475) 1,271,550

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

NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 March 2024

15. Statement of funds (continued)

Designated Funds

Implementation of new CRM- Designated fund to support the implementation of a new CRM system.

Fixed Asset Fund- The designated fixed asset category represents tangible fixed assets that are used to carry out the Charity's activities and are therefore not readily available for spending.

Charles Lloyd-Jones Legacy Fund- Designated fund to support Nurturing Talent.

creative:connection - Designated fund to support the creative:connection project 2024/25.

Project Equipment - Designated fund to support the purchase of new photography equipment for projects.

General Funds

The General Unrestricted Funds represent accumulated income from the Charity's activities that are available for the general purposes of the Charity.

Restricted Funds

Marginalised children & adults- This fund relates to the Charity's work with marginalised children and adults.

Vulnerable older people- This fund relates to the Charity's work with vulnerable older people. Nurturing Talent- This fund relates to the Charity's Nurturing Talent programme for emerging artists to develop professional practice in a community setting.

Young & adult carers- This fund relates to the Charity's work with young and adult carers.

Young Patients- This fund relates to the Charity's work with young patients.

Disabled Children & adults- This fund relates to the Charity's work with disabled children and adults.

Young & Adult prisoners- This fund relates to the Charity's work with young and adult prisoners.

creative:vision- This fund relates to the Charity's ambitious plan to double the reach of its work by 2028. LGBTQ+participants- This fund relates to the Charity's work with LGBTQ+ participants.

Manchester Hub- This fund relates to the Charity's work developing its hub in Manchester.

Create Live! For Business - This fund relates to the Charity's creative workshops for corporates. Capital -This fund relates to the Charity's capital budget.

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

NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 March 2024

15. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
Designated funds
Implementation of a new CRM
Fixed Asset fund
Charles Lloyd-Jones Legacy Fund
General funds
General Funds - all funds
Total Unrestricted funds
Restricted funds
Marginalised children & adults
Vulnerable older people
Nurturing Talent
Young & adults carers
Young patients
Disabled children & adults
Young & adult prisoners
creative:vision
LGBTQ+participants
Manchester Hub
Total of funds		 Balance at
1 April 2022
£
85,000
64,473
-
149,473
515,083
664,556
Balance at
1 April 2022
£
-
31,928
1,988
283,599
7,504
211,318
17,953
30,000
-
-
584,290
1,248,846		 Income
£
-
-
7,875
7,875
314,416
322,291
Income
£
15,000
118,521
18,000
400,845
46,106
120,121
68,018
-
9,881
20,000
816,492
1,138,783		 Expenditure
£
(4,500)
(13,105)
-
(17,605)
(239,619)
(257,224)
Expenditure
£
(4,000)
(92,801)
(19,988)
(362,706)
(41,096)
(215,018)
(52,019)
(30,000)
(9,881)
(20,000)
(847,509)
(1,104,733)		 Balance at
31 March
2023
£
80,500
51,368
7,875
139,743
589,880
729,623
Balance at
31 March
2023
£
11,000
57,648
-
321,738
12,514
116,421
33,952
-
-
-
553,273
1,282,896

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

NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 March 2024

16. Analysis of net current assets between funds

Current year
Net current assets
Provisions

Prior year
Net current assets
Provisions		 Unrestricted
funds
2024
£
751,097
(20,000)
731,097
Unrestricted
funds
2023
£
749,623
(20,000)
729,623		 Restricted
funds
2024
£
540,453
-
540,453
Restricted
funds
2023
£
553,273
-
553,273		 Total
funds
2024
£
1,291,550
(20,000)
1,271,550
Total
funds
2023
£
1,302,896
(20,000)
1,282,896		 Total
funds
2023
£
1,302,896
(20,000)
1,282,896
Total
funds
2022
£
1,268,846
(20,000)
1,248,846

17. Reconciliation of net movement in funds to net cash flow from operating activities

Net income/expenditure for the period (as per Statement of Financial
Activities)
Adjustments for:
Depreciation charges
Bank interest received
Stock donated for re-sale
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Net cash used in operating activities		 2024
£
(11,346)
13,105
(35,720)
-
29,245
(42,416)
(47,132)		 2023
£
34,050
13,105
(13,505)
(50,000)
(83,434)
13,320
(86,464)

36 | P a g e

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

NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 March 2024

18. Analysis of cash and cash equivalents

Cash in hand
Total cash and cash equivalents		 2024
£
1,262,735
1,262,735		 2023
£
1,274,147
1,274,147

19. Analysis of changes in net debt

Cash at bank and in hand At 1 April
2023
£
1,274,147
1,274,147		 Cash flows
£
(11,412)
(11,412)		 At 31 March
2024
£
1,262,735
1,262,735

20. Operating lease commitments

At 31 March 2024 the Charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years		 2024
£
58,412
102,221
160,633		 2023
£
58,412
160,633
219,045

21. Related party transactions

During the year the Charity made payments of £2,547 to Carol Topolski (2023: £2,045) and £4,900 to Holly Khan (2023: £4,930) in relation to the services they provided on projects as a writer and musician respectively. Neither were paid in their role as Trustees.

In aggregate, the trustee donations totalled £18,925 (2023: £13,250).

The key management personnel of Create in charge of planning, directing and controlling the charity and running it on a day to day basis comprise the Board of Trustees, Chief Executive and Senior Leadership Team. The total remuneration payable to key management personnel (6 persons) during the year was £298,888 (2023 (6 persons): £266,232).

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