CREATEg CREATE (ARTS) LIMITED FINANCIAL STATEMENTS for the year ended 31 MARCH 2025 mitchell chL:,I IcsiJJorth AL'ityiiiiQrii% * BusinL*S A(Ivi5OT
CREATE (ARTS) LIMITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 Company Number 4728145 Charity Registraiion Number 1099733 Chalrman Tony Cates Chief Executlve ICEOI Nicky Goulder MBE Company Seuetary Vanessa ShaTP Paul Thimont Treasurer Registered Olllee 3fJ Floor 14 AJ5:in Friars London EC2N 2HE Email Tfjlephone (London l M•nchesterl Website info@createarts.org.uk 02.) 7374 8485 ff J1615210033 TeatearlS.org.iJ Facebook Insiagram I X faceDook.com.createarts.org.uk ocrea(ec*a',Ity Bankers The Co-opera4ive Bank plc 18all¢)on Street lar)chester M60 4EP Auditor5 PJ.t=hell Cnailesv4QTth IAJatt'. Lim,.ted rloor. 44 Peter Sireet Manchesier ',12 )P INDEX TO THE FINANCIAL STATEMENTS FOR TrIE YEAR ENDED 31 MARCH 2025 Directors. report Statement ot Directors. respon5ibililies 16 Auditors report 21 StJ•ement of financial aclN',tie5 22 Balance sheet 23 Slatement of cash flows Notes to ihe financial statements 24
CREATE (ARTS) LIMITED Directors. Report The Trustees. who are also Directors of the charity for the purwses of the Companie5 Act, submit their annual report and the audited financial statements for the year ended 31 March 2025. The Trustees confirm that the report and financièl statements of the charity comply with the current statutory reqLJlrernents, the requiiements of the companys governing document. and the provislons of 'Accounting and Reporting by Charities.. Statemenl ol Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standaid applicable in the UK and Republic ol Ireland IFRS 1021- leffeclive l January 2019) Icharities SORP IFR5 1021. Obj•ctives Ind Activlties charitab objects 11 to advance and piomote the eaucalion of the public in the knowledge. understanding and appreciation of the arts. 21 10 promote the use of the arts. particularly the creative arts. as a way of.. al relleviThJ the needs ol the pool. ¢isabled. elderly and young peotye who are In need ol care and attention.. bl rehabilitation of offenders,. cl rellevlng the needs ol the unemployed. Vislon A SOCtY In vthich everyone ha5 access to the educationaL social and Ilfe-enrlching benefits of the creative arts. Mlsslon To use the creative arts to connect. empower. inspire and tspskill soCty'S most disadvantèged and vulnerable petse. raising aspirations, bujlding seif-esteern. reduclng Isolation and enhancjng wellbeing. Cor• bell•ts That People Need to Create. That everyone - regardless ol circ(Jmstan¢es, behaviour. age. gender, race or disabilfy - deserve5 the chance lo fullil their potentiaL That high-quallty creaiive arts actiwtie5 connect. empower. insplre and upskilL raising aspiratlons. building self-esteem. reducing isolation and enhancing wellbeing. That everyone has a ro¢e to play in making society lairer. more carrng more Inclusive and more Sustainable. Values Create is a valtses-driven charity. Our values underpin the way we work wrth our participants. partners. people and community. They guide the decisions we make and the way we work. Creativlty- encouraging a creatNe approach to every area of our performance Excellenc•~ seeking to attarn the highest staTrlards in all actiwt*s Valuing the 5ndividu•l- recognisin9 and nurturing each inLli¥idual's unKiue talents Pas$ion - being passionate in our motivations and performance Flexibility- listening and responding creatively to all 5takeholders' needs Integrty- ernbèdding integrity in all we do I I Pa
CREATE (ARTS) LIMITED Directors Report Aims To tackle inequality Dy giir,g Societys Irosl disadarytoged ar,d vu;neraDle peoole free access to the benefits ol the creat".rfe arts. To engaoe partlclpa,tS Ir '?410ree Jrojects led bj. except101 p"o¢essional artists in areas where provision ts pcor engagenitsnt .'s lo. To listen to, advccare or ap.a give a wo.kne .40 Farticipan.ts. To co?nect. empower. .;Ispire 2r.a ups4,11 pari,cipa-, s 8evelop'.r.g creativity. raisin9 self-esteem. enriching tives. Teducipg isolat..on and e-, nancif.g ivelibei-..9. To PTofp.C%e I.e value Thf rTeative arts er.gagemep.t Ir. achie'iir,g social outcorrEs. To pravide ,,g. qdality, ',aiTly ¥vc¢k and CPD to a o:.¥eYse pocl of PfofessDna.' aYtistS. To V,elp create a Stsciety tybar is tairer more caring, more inclusive ana more susta iP.aoIe. Create is the UK'S leadlng ch•rity empowerlng iiv•s, reducing isolation and enhanclng wellbeing Il)i'OLigh the cre•tive thrts Ppnole Need lo Create. Cleae s V4ork has ne'.e.. ¥eeri .0..e irnForton.t. fYeai;'41ry irrpacts ivellbeing, emotional and mental heallri. It ouilds skills. br'ngs &Oy an¢ .edJces isolation. It allowg us to tb.lnk differently, to express oursei%'e5 and :O De hea..d. I: eryabies kjs to learn atout Oiif5elves and ohe"5 in nei ways 1t Inspires. emooK4'ers and raises ospr81,or,s. Ano.. according to ipdLJStrs' .eaaers Inciudir,g the Vlorlr Economic Forum, it Is a core skill lof busie55. We knovi Ihat unleashing creètivity irJni:es imagir.a'.i0is. develops confidence ar.d builds relationstiips. Like setting off a firel10rk. oJr professional ar4',5'.s ,')hl the to ck, ?aper and our oarti-ipar.¥S discoN'er npw'obnd sell-belief and a ¢esive to iry more. do mole 8pÈ be nore Create is a narional cnarity that harri1005 local pri- es by colL3boTaLiP.g '.%'lth our partnefs to tailor every project to eacb indiyidbal's needs. 'è be e%e iknat eieryone regardless of circurriStar.ces, bettavioi&' age. gendeT, race 01 disability - ceseryes i", e cP.ankne io fil,.f,.i their pctentQi Most projects are collaborations wit coTr.tiiunity partYers. whicb. have spe"ialist krowledge ol'iocal priorities and the participants that ttr.ey exist to serve. Create's focus is on engaging tne most margip.81;'sed participants ir, ':nspifing. sustainatyle aTts prograrnmes - de, kered In familiar 5e4tlP¥5 %v.e.'e tp,eJ ieel comi OTaDie ana 5aFe in areas ivbeTe provisicn is poor ari.d e•gagerr.enl ,n the 3f.s '.$ IOVI. Mie ¢vicri.4se cur ViOfk,li,b,h ei9ht par1C1p8nt gTO.'IPS'. ycung psychiatric hosFiial pa:'.ents.' d..sable¢ nLjcreb, -pid adult5', yO'J•g ana aau,, + carers. childen ',ry care 1 ln area5 of de ap,0 yoiJng c)re leavers,. $C¢01ClIdren ',ard tneir ieactr,ers, riilatiop... vulnerable older pecpie., young a-..d aadlt prisoievs ,.ad W,eIr +amiliesl.' 3".. d m.aro'naiised cyildfety and aoults keg lomeiess people. LG8TQ+ Older people. yo'Jr,g re+ugees and asy.dm seekers,. ' J71'J3. I.e cortY fas riJv IE 809 creative atts IOrkshOpS ttr.atr liave Sirice Cfeare i•4as toJJnded cn kn71' deliiiered 396.902 ccntac: hoiJrs as 11 o,. sustained. li',e-chaDGing ptO9rammes with 47.gLI E.ariicipants, Some ol our proy,'3mmes are de¥eihpe# ano5 Gethere 'n rtlership Vlith t bkn4s1ness communitv, .elping tc ry)eet +eir Responsible Business rrioT.'ties Eberj orogr2y.me is rigorously evald3tecl teknause vie re passionate aboJt providir,g in5p,:ir¢g ano err.pcA'eripg creatIe expeYier,ces ;hat hae a lasting impact. Adaitionally. In 2024125 Kve CO.mISsIon£¢ consilt3ncy PannersF).iF Firs". tJ up,deryake an 1 da-.a co,.le- evaluation ol Crea+e 5 Soc.,al Va&Je. Th'.E ir.c:bded te siatlS41C3. ed across tli.e ye3r', 3 survey ol key stakeholders.. and in-deolh intewiev4S. IA'e kn.oi•i from experience thal drama can build ap. Isokted voung carer's 5e1-estee,. tat storytellLng can 5;rengthen t,e bo.nd bete#Sn a yOLJng offender apl¢ ine Icved oryes v4aiting for him at triorp.e. ar,d that .Sic can Provide an irr -rt2r.t rr.eans o, self-exFreSS1•' for a yourig person experiencing aYx',ety or depress'.on. One spark of crealive energy opens up a world of positive OPDOrtunrties. Create lights that spark. 21Page
CREATE (ARTS) LIMITED Directors. Report Public 8enofit In setting Create's objectives and planning its actwrt*s. the Tiustees have considered the Charty Commission's general guidance on public benefit. As noted throughoul this report. the charity's work is directed towards the most disa(fvantaged and vulnerable peOe in society and outcomes for the public benefit are recorded here in deta. Project partlcip•nts To fulfil Create's commitment to working with the most disadvantaged and vulnerable chlldren and adults, each potential community partner is carefully researched to asses5 the extent to which it enable5 the charity to meet this obje¢tNe. Where applicable. Create uses Ix)vèrty indices and government statistics on areas of deprivation, together with under-provided priority places - such as those Identified by Arts Council England and BBC Children in Need - ro establish the geographical areas of greatest need. When choosing schools, it also considers the percentage of children vkno are eligible for pupil premium / are eniitled to free school meats (key poverty indicators). use Englistt as an addiiion31 Language or have special educational nee<ls. level of vulnerability ol the particlnts 15 always a key consideration, as is the extent to which the communty partner already benefits from provlsion by other external agencles. Create's preference Is to wort( vlith organisatlons that are Under-Ser1. In 2024125, 2.146 participants directly benefited from Create's projects. These included.. young psyehiatric hospital patients.. young carers. young adult earers and adult carers.. children and adults wit mental ill-health.. disabled chlldTen and adults.. young asylum seekers and refugees., survivors of modern slavery.. prisoners.. inner-city schoolchildren.. iS¢)iated older people. inclu(Jing those living with dement and children in care l young care leavers. Create worked with participant5 (where data providedl-. 61¥. 61% aged 5-18 20% ekngible for f school meals aged 60+ 48% 46% of the global majorty with special educational needs I disabilities 31 Pagt
CREATE (ARTS) LIMITED
Directors Report
V¢>lunteers
152 kOiLJnteers. ir.cliiding those pro¥4deo .y corporate partners, aonated 855 ho.Jrs of their time to
Create: using.beir skiii5 ad enthJsiasm to supocrt pav.icipants in CreJte ivork5hotss, ar.d pvoiiittlng
expert Vgliiaance as TTu¢.ee5 Cr A.dv.:sory. Ccmmunicailons. Crea:Ive or rino4ce & K3enerai Purposes
Counctl members.
Achievements and P¢rforman
Create s vision is lor a world in whicr. evepione a$ a:ces5 to +he educational. Social ano lite-enriching
benefits of te creative art5. and the value. imoortance and ..rr.pact of creativity car..iot be overstated. In
these uncertain tifyes, as economic .'neoua',;t>' cont+nues to groiv ar.d I.e rrost maTSinalised peoFLe .8-
ever more challenges. Creare ui9en+;.
neea5 to pr4¥1i¢e creative oppor.4ufiiiies tFNiat ts005t skills. tsJild
conr,ections. Increase confidence an6 entriaryce":eilbe'.
Te crea:1+= arts a'.so ploy a ff,3'0r role li +he
Èconomy, %ySth the creative indUstrS contritliltilg an esiimated E:L4 billion per annbm In the UK.
In line with rts ambitlOUS Diar,5 to d)b.ble tne reach and impatt ol .,ts park by 2J28, Create mair¥ained it5
focus on expar.ding its '.eacb. and bringing the pokvev o. creati'ii:y to iricreas.r,g nur.bers 0¢ dlsadvantage
children ané adb.lts acr055 the LJ"K. It ai50 con45nued to ra.'se the profp e cf tr,e ',mpo-, rance o,. -rea;Ivity as a
powerful tool in our society.
Slnce laL•nching Creote In 2003, the car:'ty has ttelivered 39S.902 hots of contact viith 47.921
participants. Durir,9 2C24J 25. 64 professiopial Create artists ran 20 programmes ',ai Limbrella body of
viorki Vlltnin Yihicl 98 Frojects ia series ol i¥orksnoFs iAJiI one or more corrrriL4nity Partnersl viere
designed. These deiivere(11.31> VlorSOps iup 2Y> On ttrie previous yearj I
23.<G4 co-,tact hou.. s Yiith
2.146 participant5.' an(J were fateo -SLJccessbiJl overall" ty IOO'A o. COTnU1.Y partner Siaf! Create has
continijed to exterd ts national reacn. Ivith the Ncrttr. ivest riub f¥%.anle5te e5tablsshed in. 2021,
playing a central role in the charity s expansion. Vb'orkshop del..very in the regiori ir.creased by 6.4/. during
tne JieaT. reactting 14.3% mOTe partir.'p?nts.
From 1-7 July 2024, Create o',loted C.. ea=e leek. a r,eiRJ initiative designed to raise 3'Nareness of tge
irr,portance of the creative art5 for ir.divi#uals. ergap.isatlGns ar.¢ sc-iety.
I he cnariry s professic?al art',Sts
developed seiien activities. vinjch viere oyered free of c.8e. enaoling people %0 experience the benefits
of the creative arts first-hatid individually Of Ifi groaps. Organisations aid ind.,v..ooals acioss tne JK and
eyond :ook part in the event which reached Oi'er 830.000 peop',e oniifje.
Creaie was the official ctrbaritji PeT+.ner for the
CREATE (ARTS) LIMITED Directors. Report Create won the prestigiou5 'Most Innovatlve Proacthie Wellbeing Activity. Mentsl Health Award in October lor its creative.'voices programme with adult carers.. and secured seven Koestler Awards in recognition of its prison programmes. The charity is ¢ommllted at all levels to rigorous. honest evaluat)n. Each pToJect is indrwdually designed lo meet partners. unique needs.. clear, retevant intended outputs and outcomes are agreed.. and programme5 are evaluated against these. Planning and debrief meetings start and conclude each project and Create has a IOO°A feedback policy. with feedback belng collected wherever possible from all participants, cornmunity partnei staff. volunteeis ar)d Create artists. Projects are monitored through verbal feedback circles and consultation. observation ol workshop5 and written regpon5e through Questionnaires. Qualitative and quantitatlve feedback is use(J by Cieate to produce an evaluation report that assesses the extent to which the intended outputs and outcomes have been met. This IS the primary means by which formal feedback from each programme is disseminated. Reports are sent to cornmunlty partners. ardst5 and funders. and usecj by Create in the planning of all future projects. As part of the evaluation pi¢xess. community partner staff and participants are asked to rate the Success of their Cieate project in enabling the participants to develop a range of key skills and enhènced wellbeing. and lo appraise the successlenjoyment of Iheii project oveiall. The results across all projects during the year, shown in the graph below. demonstrate that participants. skill development/wellbelng enhancement was rated successful by between 86% ar 98% 01 participants and 98% and 100% ol cornmunity partner staff. Partlcipant skill development I wellbelng l overall project rating (%) Skllls for Life. Education, Work Quality of Life 51 Page
CREATE (ARTS) LIMITED Directors. Report Crea+e provKlprt lis artists and project team with t¥ee :earYing. skill-building and r,etbvcrk,'r,g OfPOrt.bD,l%ies ' Sbaring evep.rs that too% place .'n May. 2n0 0111[)Ef. exFevnal spearfers ario art.Ist-leLI at AtISt worksr.op5, these sessior.s locuseA ov, special edii ation8i r.eeds dsaJii.Th': and ori weiltetp.g- Attendees commentea.. '1 so enjoyed sharing experiences. having preconcepfions challenged. - /"Good balance of practice. discussion and learning. /"1 understood how to use a wide range of tool& like sensory toy5 and talking mats. to encourage and facilit8le learniw." /"It was good to listen and learn from Create staff about shared principles of wellbeing. landj how this can be implemented in practice.. Creaie ran rhe ninth yea". ol Ntsrti4fing To¢er4t. a piosrarr.me C4er 2 .0..h5 desisneé lo Jp5ki i emerglng artlS49 Vi.0 vii5h to rombin,e tb.eir pro',essiOfA l art%lStc prac:.i"e i'4ltV4 creative,OrSoP del',very in comminlty set¥Inos. N4iirtiafiflg J alent gave liiye emerg'.ng ar+ists ttre ?PvonuJnity t? viorit as supporting ary.ISTS op a ranse PfoiecPS. attend pvo¢essiunal dee.,OPMet trainipg days an4 iAiork as a groiJp to design and deliver 4heir o%ain ¥v¢fKSnOQ a commJniLli 5etirry. Eacn. aYTlS: receivea a bb'rsary a•d coiiectiveiy SJPQCrted'76 WOTKSilOjS J'"tQSS tie year. '. Lrt ring TAiepi arliSTts corp.Tr,enred'. .1 have loved working with Create artists. Its been super Inspiring to have an irtsight into the many ways of planning and delivering activitie& it was great also to experience workshops in other arl forms. I've found it hugely positive making my own actwities to weave into others." /"GaJnin9 experience with a variety ol particjpant groups over the course of Nurturing falenl has changed how I desigp.Ifacilitate workshops.. / "All ol the skills will help me to be a more confident and creative worksIp leader. tr Create's Income was se¢ured via the dekeiopment ol r.ew relationship5 1th1)tl orgap.i5ations Barnett rfVaddingam.' Cutivts.. - Fosie fct&incaticn. T.e LinDUry I., i&5t.' Oc:opu5 nergy. The Quilter oJndatiofj.. w'nite Stdst:,: ne st., erylhen1rVg o.. s'.gnilicani ex'stiig re01.onslPs iIP,Ciueing. Aesop FoLJnd3:ioY.. AshJrs:; Britistr, .an#'. Ciij eriege Foup.&3tior,' oeboraP Brice Advised Fund at CAF. ionn ' yon's Chariiy- fieed Smiptr. & i ). Rory ar.d Eiizate:h Brooks trOiano&tion.' Saran .ane '.eign ndation;, Ihe Cari.abie i rvs.. Siiile5 fune oy Com[ Reif and kVal%ers'. SL iarries's Place c,ar1¥aLte .-0 generoiis suppori of dozens of DiheT tru5-.S. ioun¢aiicns. compan)e5 3n¢ Indty'dijats.. corimunitr fundraising,. in rryemoTiam gel s, anc et$. I he Creète t,2 D;'Yevence 5ndib.dt21 and business membersntp scheme5 provide b.IgMly valued unrestflctetj fifjanc'.a. Siipport:o tsr..derpin :ne char..ty-S ¥¥crk. ep.abling i+ +0 Vlltty conf5dence Crea thanks the following .eMberS lar,¢ ai. a".e non-Fci-. rtirig Ch8fige V.arfe"siCoTrnuri',ty men)bers or I',si o remain arionymous v140 togethe.. dooatee oN'er £72.6K Ou". Ing the year.. Business Members: Pioneer.. BroKyn-=ortyan Innovator. U'ncomrnon COllab•tor.. Fold7, Zealot UK. Individual Members." Champion.. i oryj iaknrS." Ailsta r DK &onn.stnt': V.C." i..'n and (-laiTLi Jone5 Catalyst-. Anne èaldor.k. '.tr7 g)iia:.J5c4 C)Bl Curator.. GareF. Davi•)S.' rni..,tr Emers.. sear HUr,so,. Adam .L. <,-.rrev-DiJireni.' ri-"i£ ano K.'ovessa i UTpin Conneclor: R..chard Sctrireibe," Vaness8 Sharp Change Mabter (Founder Membersl.. ilicky iiOLJioer V,BE, lai:'I Vheye..ee'.I Community IFoundtr Members).. Jo 3roadis.' Cr3'.,- . Topolski.. V,".r*ael Tc.pclski. 61PBBe
CREATE (ARTS) LIMITED Directors. Report A vital part of Create'5 work is its partnerships wth the business community. whh Ènable companies to meet their Responsible Business objectivès whlle helplng Create to achieve its mission. Alongside financia¢ support, companies induding AshursL Bamett Waddingham. 8NP Paribas. Brown-Forman, Fitch. Octopus Energy. Reed Smith and White Stuff provided 128 volunteers. bringing a wealth of expeiienee and expèrtlse to w0shops. actlng as positive roie mode15 for the participants. developing new skills and eXpernCeS to take back to their workplace and enhancing their wellbeing. ol volunteers said Ihey would recommend volunteering with Create and would like lo undertake more volunteering with the charity in the luture. 99/, felt well informed, brlefed and supported by Create during their volunteering. 88./, sajd volunteering with Create improved their wellbeing. in¢reasecl their confidence in working with people Irtyn different backgrounds and made them more awère of the social issues facing participants. I'j°/ said volunteering enhanced their creativity. identified by World Economic Fonjm as the second most important skill for business. Pro bono support included.. a soclal media management system by Metric¢X)I,' merjia monitoring by Hawthorn Advisors,. a supporter event by 8rown-Fom)an.' and meetinevent Space by 8amett WaQdlngham. Reed Smith and Simply Business. In February 2025. Create commissioned consultsncy Partnership First to undertake its third independent evaluation of the charity s Social Value for the participants. organisalions and communit5 with whlch It works, and the professional artists who delivei this work In determining the charity s Social vale, Partnership First used a broad evKlence base, including.. focus groups.. a Social Value Survey completed by 70% of reciplent$186 Community Partners,. 41 Artists: all eight Corporate Partners who volunteer),. and extensive posl-project data collected by Creatè across the year from participants and Community Partner stalt. The report found.. 98Yo 92% 95% 82% sald th Crwt•'s h•d • substanti or exc•ptioMI irnp•et on Lli¥•rty. Equity *nd Inclusion. s•id th•t Cr•ate's work h•d a substsntial or oxcept40n•l impact on Community Cohesion and Ren•w•L 71Pa8e
CREATE (ARTS) LIMITED Directors. Report Key Groups l Example Projects During the year. Create deveiopeo ap.d delivered 98 Projects. example5 of which are included below. Leé Dy Create s professional artists, Create's =roiett.s connected. empowered, inspired ancj up5k111ed participants, Taising aspirations, building self-esieerr. and enhancing wellbeing. Tney alsts Children in care I young ure leèvers Improved 5ell-expression. selt-belief and relationship-building .1 learned that you can do whateveryou want. ifyou t)elieve in yourself. And taking pictures is not just about taking a picture. It'5 making sure you capture the mornent. I kdanl lo carry on taking pictures. because it s fun. This was a Ille-chènging opportunity to have and I don t take it for granted . pacIpani Having launched our'voices in 2023124. 89 childiep. Ir, =arel yobn care leé'ièr5 In Greater Manchester and London took part in animation. mLJSI- pnotoJrapp.y a-. a i';Sjai art projects. Dis•bled adulls Improved social skills, provided means of self-expre55ion and enhanced self- confKlence 'From a social inclusion perspective. fhjs workshop gave a lot olpositive wbes to Ourpartlpants. They leèrnt a lot and they enjoyed it a lor . Sta The more.'cieative proie. t in sour'alk brOJ9.t togeir,er nine adults I'lir a learning disability frorp. 3ede House Yiiin il child,"en frorn Jonn Keats Prirrary Schcol iof coilaèorar.ke creat',ve d", ama act14iitie5 Ttr.e com,mun'.:y.'matte.'s Frcject i'i"'th Brent Mencap enaDied 10 adui4S Wlth a ieariing disaDility to explore drarna. filmmaking and puppetry and create a speclacuiar rnural at their cer,tre. Oisabled thildren . broke down barriers ol prejudice and eyplored environmental concerns "I ve gone home happy and Il'mj coming into class more comfortable with the people around me.. creative.'connectiOry brought logetheT 173 disabled and nondisabled children in Lov.don, Manctye5+er. -nildren and Salford and ..at10rd. chJnging.minds and cr&)ative.5Daces WrKed ':wlth 152 SENO schoo.'- young adults in London. I he en'/ironment.'Ifiatter5 ¢.'og.'amw.e Jeliitered cliTr.ae-Ihemed projects wllh 123 children at four spe-ial shoolS in Bedlord. Loneon and Sale. A iide range of artlo,'ms viere explored. Adult carefs . prOved a social outlet through which to lake a e3k from caring and build trusting relationships. reducing isolation "It's helped me In my caring role ès well. I've not felt alone in the last weeks. I felt like l [hadJ somewhere to go wheie someone is gotng to listen to me and talk to me. And It just fee15 $0 good." Partiryant creaLJve'release and crea!jve."voices deiNe."ec both ir, venue aid remctelY.,'a '. .11 reduced the isolatior cf 3=6 adult carers Ip ldinrirgh. Gla01V. London. Mancoester. h'otlingham. Selton. SJr rrey, and IPN Igan and Leigh. I b.e bui;t c'.eatNe ski115 across wsJal and pe. .orrying artforms. 81 Page
CREATE (ARTS) LIMITED Directors. Report Yourrfj carers . enabled young carers to take a breal build resilience. and learn about money In the home "I really enjoyed the chance to express creativity- 11 was good to see our hafd work come to life and it actually tumed.out way better than we thought it would. I feel veryproud. This project maée me happier Irs given rne something to do and I ve Oeen Ivngin9 around wftth friends . Partscipant Create delivered 417 workshops across a wide range ol artlomis through art.'space. change.'matters, cornmunity.'matters and inspired.'arts. The programme included a slk)wcase on Yourrfj Carers Action Day 112 March 202SI in partnership vmth Carers TrusL putting youn9 carers. talent5 and V0e5 at the heart of the event. Prisoners gave prisoners space to exwess themselves. tsJilO Iinancial skills. and create stor5 to connect them wilh their children .1 can come across as conlident but really. l in quite nervous. 8ut l grew in confidence as the days have gone on. I leel a lot morp confttdenr In being able to express myselland gptting Involved with other people too. I've learnt that maybe I can Dp a bir more.socl. Everyone had positive idea5. everyone hada good time. and we èll learnt something -PartKi Create worked with 100 male and female prisoners across four prwns throitgh Free Inside. Inside Change, Inside Stories and My Dad s in Prison. enabllng them to create a mural. wrrte illustrated storles for Ihelr chlldren and develop Ihelr financial literacy skllts through radv) drama and visual art. Older people rpdijcpd Isolfltinn loslervd Imaginarion and Increased 5elf-worlh "I looked loard to each 5essw?. It was therapeutic Jndpe?ceTul. l alway5 enjoybeing creatlve - it5 stress busterl. Pnt art.'links, creative'engagement and creative."links improved the quality of life of 248 isolated older people. many living with dementia. across London and &eater Manchester. A wide range of artfomb were enjoyed. Youn9 psychiètri¢ hospital patient* . prowded a creative outlet lo n9 people Iwtry with mental Illnesses 'Being creative has made me feel fullilled l)ecause I can achieve something iangible. ft's good to have è safe space whpre you can conlriLbute different Creative idea5. Arl 15 Imp()rtant because it harnesses what Orhers are feeling whicl) can Oe quite 5atisfying.- Parocipant creative.'tandem empowered 82 young people had been admitted to mentsl health units dLJe to serious con¢Yition5, including psychotic. depressive. anxiety and eating disorders, self-harm or suicidal thinking. Create s professional artlsts brought art. ceramics, circus. drama. jewellery. mural and photography workshops Into fNe hospital units in London and Manchesler Young refugees and migrant$ encouraged self-expressron ènd built a sense of community "The sense ot calm. purpose Jnd creative autcnomy has myriad Denefr.ts that Jre hard to artlculate. We all need space to create for ourselves- these session5 are a jol" staff 91Page
CREATE (ARTS) LIMITED Directors, Report Create Worked iAiith 59 young refugee and migrant C.110n in Bfent througn its partnershiD 'W',; SalusbLJry World. The cow.mknni.y.rr.atrers prcgrarfj.e yave +fr.em a t.ance to develop their CTeativity Itery maKing. through collage. filmmaKin¥. O,09ra0hY and ielie4 Survivors of modern sla¥ery used creativrty as a powerful torm of sell-expression "Al first I was very neNous to meet new people but now I'm more comfortable and less anxious communic3ting with other5." K1pant Crea',e worked ivith nip.e survivors cl w.odefn slaver5 •AI.o are Sipported by 4esiia •iroJgh its Art 15 freeclorr. coilabcration. The prograYiW.e raised aknareness of modefp. slavery tnrDgh an exnibitiop, across London.. ',nc:J. dir.g a oisOay-n PKcadrily i'.sP.t5 fo., Anti-sok'ers, Day on 18 October 2024. +& Creaie increased its PYO&iie through hlgh quality COrnTribn':ations ttriat helpee tc raise tfie ollIe ol Ir.e Iripofiance of the c.'eaiiie arts. and FOS..: '.y as a '.eader in its ',iela and the CEO as ar, expert vo',ce. Ir, July £024. tf,e ctriarity laur.ched -Crea:e Coqversa:.isfjs- a Series of 0g¢',ve Fariei ¢iscussion.s designed to soark meanin011 aisCU55ions atoJt he Vole awd ir.portap.ce c.. creativiiy in our society. I he fiT5& ol these focuse¢ or, "Creativity ar.d AccesshDi -ar.F .edia =overa9e tturiTh- ttte year jnttiuded the Summer Reading Chaiieyge. the iad-,.ch ol reate s partnersh:.) Vllt j IA'hite SI JV,. a ctr,arity abctlon. Oy spec:acle-rrbarte', Cubitts iri sbpport ol Create. apd f.oir-page coii•r3ge in ',I5iOe T.,me ol the My Dad's In Prison project. Crea¥e 5 CEO N'icrfy Gouider took Fart in podcas!5 V.'It4 The Ir.5t',tute o! Practilior.e", s Ir. Adi'e,'tISing IIPAI ad i'ilth Up.ae". stan.Ir,g Scc..eiy. vias iDVlteA to write a comwer.t J',ece or Prospect Magazir,e, ar.d <eceived national PTess-o'ierage after being ai4iarJed an MBE In the NeK, Year Han)ors List 2025. She sp?Ke at the Harrison Parrctt toknndat"or, SyTrpvSlUP. in '. ,'verpool in Noverriber 2024 and on the Innova4ion SLage at AShLEE's Con'.erence ir. Payis ry Mactr) 2C25. Plans for 2025126 Create vi,.11 ente,- year tive of its ambitious seven-yea.. s:ra:eg'.c Dlar, 4¥,.L. the aim CF doJblir,g rhe Teach ar,d I.act of ., s vio,.k Ly I s 25.": ar11#erS3Ty'. 2029. Its pa-.. -itJat)tS ¥Yiil re,alty tr.e ari'4iP.9 force beh." Its Vdork and tle -tya Ity Vlill corTtiiue fo meei ils lent to oeve:GPI-,4 SiJ5'i)If4ec. Iiie-c4anging pfcgramni.es by returning io nany o! te carec Stsfyices. oa¥ cen:tres. ptr. irons, 5cf,IX)1s. cildrer.'5 psycbia'.ric hospital k&P.IS arrt Glher Cer..ull illy set-.r.gs i%xi h Vinic. CC:'iaborateo drJ¥lP,g 2024125. Create has 3 series ol impoftaii if,1ilaiives F',anr..ed tlat Y.1[ exieno its V4orit geographically an¢J With new paTtners. I h':s iycluoes PJrther expans'on of its Yiork from tie NW ,.,b. successfull5' establi5heo in Mar,chester dijring £92i reaching partI.panIS in areas OS rilyh deprii'ation across Grea+er Mafjchester. Merseyside and beyond. Ir, adoition. Ihe charty iy."Il bijiid on tr.e viork developeo in 2023/24 viilh two ,'rripartaYi r..eiV partlCbFart 9 UPS.. survikors ol mdern slavery.. and Ciiloren in care J care 4eavers. Tb.e cbayitii is delig*)ted tc have sectsree a tour yoar LiteTacs' Spec..a. nitia:iKe grari +rom S; Padl's Schools rpr5 CU.0ar,l.' .'26 2v28 IL9.-, his Ir.ajG', O idf.. 5:.or.'es teLK":eei 2LQ25, r.ew iireracy programme V¥ltfi special needs primary Schools In London will take a creat'.4e appr¢3cl to 10 I Pa8e
CREATE (ARTS) LIMITED Directors. Report increaslng chfldren's reading and writing for pteasure. It will prolde an interactive. fun learning experience for children aged 5-11. where they can experiment with different ways of engaging with worcls and ideas. and Create their own narratives through writing. music, dance. drama or art. Eight schools will take part during 2025126. With the climate crisis aiguabty the most significant global challenge over the next decade and beyond. there is an urgent need to educaie people on environmental Issues. Create has taken its environnTrntal responsibility seriously for 22 years. both operationally and via projects. Having joined the City ol London's "Climate lor SMES.. 4 Steps to Action" programme during 2024 and completed training, the charity will develop its Net Zero Action Pian. progress towards which will be tracked ty the Green Committee. Create will also delwer its environmental programme- enwronment.-matters ~ al special needs SCh¢IS in Bedford. Gieater Manchester and London. encouraging children to explore sustainability through the creative arts. Create will continue to offer comrnunity paitners a blended approach of ireate Livtrl Ivla Zootnl and in- venue projects, enabling them to choose the most appropriate way lor their participants to acces5 workshops. For those participants who afe unable to leave home. due to their caring responsibilits. frailty, mental Illness. sickness or geographical remoteness. being able to join workshops over Zoom helps to keep them connected. empowered. inspired ènd upskllled. reducing isoiatlon and enhancing wellbeing. Following a successful pilot durirKJ 202412S. the charity will be developing further two important initiatives,. Create Week from 1-7 July 2025. a week-long event to promote and celebrate creativity and its importance for the wellbeing ol Indivi¢Juals, organisations and society as a whole.. and Create Conversatlons a series ol online panel discussions on the role of erealiwty in society. aimed at raising awarenes5 of the importance of making the creative arts available to everyone. Topics during the year wi include 'creativity and wellbeing and "creatiwty and ". Artist ¢Yevelopment will remain a priority for Create. wilh free CPD offered via the "Ignite" programme. which will provide an opportunity lor Its professtonal artisis to networl develop new ski115 and share best practice. Key events taking place in May and November 2025 wll focus on "Traurna Informed Practice.; and -creative literacy". Six artists have been accepted onto the Nurturing Talent programme. which upskills emerging artists. enabling Ihem lo acquire experience and to benèfit fiom high-quality mentoring. trainlng and practral workshop assthnce. In summer 2025, Create will commission tonsultaw Partnership First to articutate a Theory of Impact for Arti515 in consulration with the chariws professional artist pool an¢J senior prDjecl team. In spring 2026, the consultancy will undertake a review of Create's social value through a survey ol stakeholders. in-depth focu5 groups, and analysis of impact data collected across the year. Thanks to a major new granl aimed at helping to strengthen long-term Impact. effKiency arKI sustainability. Create will be undertsking a significant IT infrastructure progrèmrne during the year. It will be embedding Salesforce across ihe organisation, moving to a cloud-based finance system and eXpaTlg its finance team to reftect the charitys significant growth in recent years. 11 I Page
CREATE (ARTS) LIMITED Directors. Report Reser4es policy The aim ot CTea.e's reserves p0cY 5s to etisure inat ,. origoing and future artivities are reastsr,ably protected trory) unexDected variances in income ayd expendi%JTe.-ne -rustees regJiarl)r ¢e'iie'N the levels ol unre5tr1Cted reseriies and Derform a ffjull feview anLaiiy. nis cor.siders the financial risk5 associ3:ed with oillerent Incorr,e s'.re3T.5. expenditLre c2'.egoT.,es ad balance sheet Item5 tOget.e * viitr, Create's ability to meet Ilese f..orn real..sable r,d5. Create mJr,.':ors a".ar,ge of meastlres reiatea to rts iricome and expenaitijre profile Yisks faced and castr. flow tn. developing ar bfjrestrikn%e(S feseTves targe! On tnis bas'.s, the", rustees aim to maintain free uryrestricted reserkn'es of 4-6 rronth5 of projected opeTational cost5. Llnrestricted reseryes at 31i03:'2K vlere £995.>k. of i¥.ICh £4 56.3k is ",,e'd in designated funds as a fixed asset fund.. and to support.. deveiopmen'L ol ttrie CRIM systety,IIT.' a legakny n8.. rrea'.Ive.'corrneclion.' and deve,oprYent ol the NW hub. The balance ot £839.2k TeDresents six montns ot budgeted expenditure for 2025126. rial level of reserye - gwen the conipnued u?certsinty ¢esuifing trom the cosl-of-11v4ng crisis an This cru_ Increase In Employer s and •he vclaik'. the curren.F eOorr.,C 51tJatior. toJettter with restricted reserves al 31103125 01 £512 2k ;.fJndillg receiveo advance that ha5 Deer, given fo.r a specific purpose y P4oce in '.uture firiar,¢ia'. yea."s! provioe charity witn a and Is ried to specified projects Cf actbwlty la¥'n- strong balance sheel and cash ?osition. I he Directors rhere+ore cons¥er ty,e lJnding of the activities of the charity to be secLJre for the following 12 mOryt.$ and beyond. Structure, governance and m•nogem•nt Company Status The =ompany is incoroorated by gLaraniee and has no share capital. Eac1 ol te .ernberS has guaranteed to meel ebtS o¥ El In ihe eiient -f a win¢Jing UD. The company iyas',r,ror pcraied on n4103 and is goKerr,ed b>, a memoraidum and articles of a5so-iation. The comoap.y is also registere(i charity. Appolntment and induction ofDirectors Create's 8oard of Directors nas a V¥e3,'th o, exJer'.ence tha4 CO¥eis the arts, bknsir.ess. community and -1fectors are appc.'neU lo:e 3oarO Oy the c eauca'4iOP. sectors. New ~. -ryent lf¢tt015. i'iho are also rrierr..Ders ot the campany. Viit Teference=o >k,.Ils. diversity anA Cfeate 5 values. The CEO inou-ts neiAI DIreor5 throug. a F"oce5s 01 brie11•gs. Tliey are Frovited key I!0.. rr,ation relating to tr.e chaYity s goverqance and oFeTaiiJr.s. and undertake a DPS cnec4 3r,d sJlegJi ardir,g trair1ing. The Direc:OTS meet at le8St quarterly and atteno proiects and e%'er,',s The 0mrr.JnICt..oS. Creatjve an.d Fir.ance & General Purposes Councils are e2cn chai."ed bv a member ol the Board. Keymana9ement personnel Day to day operatior.s afe manage{5 by tne CEO. Nicky GoJider and her team of 22 stall. Six o,. these are ory the Senior Leadershio . eam v.'ilP. ner: OITector ol CoT,rr,iJr.,caticS.. Direc.or c! Deielopmen,. -e & Cpera:,.os.. D..rector of PrOgrame5,. w.eart o+ forporate Gr3ntsi lalar Giftsi. Dbrectc". OS Fjnari" Deve'Loprr,ent & Marketirjg.. Lead Senior Proje1 V.anager. Nev¥ Staff tr.aKie a SiX-mont*lv appr6lSat. B'.¥ Siaff have an annu31 appraisal agains. SMART objectNes sel. The Staff Handbook provide5 infonnalion on intemal policies and procedures. 121 Page
CREATE (ARTS) LIMITED Directors. Report Annually, the Chairman agrees any staff salary CreaSe5. which consider cost of INing rises and any increase in responsibilities. As appropriate. staff salaries are benchmarked against the sector. Fundralslnq Create has a fundrairg team of four who work closely with the CEO. Fundlng bi(Js are carefully iesearched. developed and submitted to trusts/toundations and public sector bodies. matching thelr funding criterka with Create's work. Corporate partnerships are developed with businesses, carefully matchlng their Responsible Business objectives wth Cieate's charitable objectives. InCreangLY. Create is approached and works with OTganisations to CO-CTeate partnerships wf(h mutual benefit. Create works on a personatised basis wilh individuals who have expressed interest In its worK via personal donations or Community fuThJraising. Create has received no complaints ab(xJt this or any other approach to fundraising. Risk management The DirecloT5 consKler the key risks to which the chaTlty is exposed. In addition. a detailed risk register is maintained by the Director ol Finance & OperaiKsns and reviewed annually by the Directors to assess the dètailed risks arKI the systems in place to mitigate them. ExamF4es of the key rlsks faced by Create and their mrtigatlon are provide# below= Loss of the CEO In a chority ol this size and history the CEO'S continuing commitment and resilience underpins 115 capacity to deliver its business plan. Mltlg•tlon'. A Senior Leadership Team covers the core area5 of communications. finance. fundraising. operations and projects. and provides support to the CEO as well as tontinuily in times of 8bsence. As the ch31ily continues io grow that resource ts monitored. Reputational damage The chorily s iepulalion is paiamounl and li works hard to maintain and enhance it. Mltbgatlon.. Hrgh qualty programmes are delwered by exceptional artists and metieulousiy evaluated.. a rigorous Safeguarding Children & Vulnerable AAlults policy is in place: risk assessments are carried out with comrnunity partner5 for every project. Lack of funding Funding is critical to the continued operations ol the charity and in a continuously ev(Aving environment. particularly the curnenl econombc climate, it needs to be alert to changing funding demand5 and policies. Mltlgatlon.. The CEO has a proven fundralsing track record- fundraislng is overseen by a Development team of four,. longer-term funding is being developed.. Create has a proven ability to meet fiJndraising targeis Poor st•ff wellbeing Staff wellbeing is crucial in a small. ambitious charity that delivers an extensive programme each year wlth disadvantaged and vulnerable participants. Mitigation.. Staff wellbeing s central to the chariWs people strategy and an increased priority Since lockdown with the team dispersed due to hybrid working. Initiatives have included wellbeing training., creative acti¥rties,' project offloads.. addItnal leave.. and team socials. I31Pe
CREATE (ARTSI LIMITED Directors. Report èi Directors The following served as Directors during lrye year.. John Br03di Tony Cates Hol.:y Khan Imonica Rooin50nl Marit Yeyer-Beli Vanessa Sharp PaL,: Thimcnt Carol i opoiski Simone Wright The Directors are also the TTU51ees for the purpose ol charity law. 14 | P8Ee
CREATE (ARTS) LIMITED Director5. Report Statement of Dirertors'responsibiTlitses The trustees are also directors of Create (Artsl Limited for the puip05es of company lawl are responsible lor preparing the Trustees. Report (incorporating the directors. reportl and the financial statements in accordance with applicable law and United Kingdom Accounting Standards. including Financ1 Reporting Standard 102". The Financial Reporting Standard applAcable in tlje UK and Republic of Irelana (United Kingdom Generally Accepted Acc(NJnting PraCte). Company law requires the trustees to prepare financial statements for each financial year which give true and lair view of the state of affaits of the charitable company and of the income and expenditure, of the charitable company lor that period. In preparlng these financial statements. the trustees are required to.. select suitable accounting pcAicies and then apply them consistently.. observe the methods and principles in the Charities SORP.. make judgments and accounting estirnate5 that are reasonable and prudent. state whether applicable UK Accounting Standards have been followe(J. subject to any materSal departures disclosed and e¥pL3ined in the hnanctal statements. and prepare the financial statepnents on the going concern basis unless it is inappropriate to presume that the charilabie company will continue in buslness. The trustees are responslole tor maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position ol the charilable company and enable them to ensure that the financiol ststements comply with the Companies Act 2006. They are also responsible for safeguarding the assets ol the charitable company and hence for tsthg réasonable steps for the preventSon and detection of fraud and other irregularitles. Statement ¢)1 Disclosure to Audltor In so far as each ol the Directors is aware.. there is no relevant audit Information of whlch the companys auditors arè unaware.. and the Directors have taken ail stps that they ought to have iaken to make themselves aware of any relevant audit Infornètion and to establish that the auditoTs are aware of that Information. Audltors In accordance with section 485 of the Companies Act 2006. appointment of auditors to the company w511 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 Compan5 Act 2006. By Order of the Board Chairman 04109125 IS I Page
CREATE (ARTS) LIMITED (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REpoKr TO THE MEMBERS OF CREATE (ARTS) LIMITED OnIOn We have iudited the Slnafftcial stètrments of Creètr IArt51 Limp.ed ithÈ '"knfiarty'l (or :he year ended 31 MZT h 2025 wpiich comprise the siatement of linancial actyiiie5, the balavKe 5h.eet. trie strtrnEnt O. Cè5h Iiows and rtotes to +he financial 5toternants, includ5n8 $18riLSica+it aCCObnlin8 POlles. Ihe financial rep?rtifjg frrnework tn?t na5 applied in te1r preparation 15 appIKable law and un.ted Kin8ocry Acwui:Ing Standards. includlng Fipancièl qe¥ort¥ir.& Stapda..d 102 rhe piftuncitsl Repgrtlng 5tryndor6 uppllcpble ftn the UK ono RepvblK of Irelor,d IUrilteJ Kift8oom Gene"4iiy AccepreLI Accountirg Prattlcel. In our Opinion. the Ilnanclal stattment5'. Ive a true aryd falr view of the state OF the c4aritsbie company s afftirs as at 31 March 2025 ènd ol Its Incomlng es 3rd 3npiiration ol re5curcts, InclJding its Ipc¢rne a-..e expendkure, forthe year tben or.tieJ,' have beep. proFevly prepared attordance up.lteo KiD.8dern Gerye?iiy Accepted Accountin¢ PTactio,' have been prepared In acco".dap.£e wth the ,"eqtslrepient5 of the Companies Art 20C6. Baslsfor oplnlon We tonducted our audit In accofdance wlth lrttrnalional Standards on AuditlP.8 IUKI IISAS IUKII and apDlicaDle law. Ouf responslbllitle5 under those standar5 are further described In tNe Audltor's responslbillties for the oudlt of rhe flnoncljl storements 5ecllon of our report. We are Independent of the charlty li accordart wlth the ethical requlremer,tS Phat are relevant to our audit cl the financial statements In the UK. Incliudirgt4e FAC'S E+lc41 St•ndard. and we have fulfilled OUT Other Èthlcal re5ponsibilitle5 acctsrdaic¢ with these requlfe.Tents. Ive klle¥e tlat itrie aoLlit evldence we have obtalped is 5uffKnt and approprlaie to Provide a basi5 for cur opin',on. Con£luslons rtlatlrti to goini conctrn In aidirin& Ihe flinancla,, $13tery.eu, we have concluded that the dlrÈttors' use ol tle wln8 toncern ba515 ot accountlr6 in the prepafation ol the ¢lnanclal sutemernts Is appropiiare. Based on th• we have perforffjed. we bave not 4der,tified ary mattr.'al,Jnceruinties relatlni io events Dr condillon5 that, Indivldually or collectively, nay £ast signlficani doubt on the charity S ?lJllity 10 Contlnue a5 1 8oln8 concern for a period of at least twElve montYlS from when te firanclal ststements are authorlsed for155ue. Cur responslbllltles and the SpOnsI1S of the directOTS respect to 80ifi¥ concern ?Te de5trlbed In the relevant 5edloDs of thls report. othef Inform4110fi The other Inlormatlory COMPIe5 the Inlorryaiion Inlded t.¢ ènnoèl report other than t4e financlal 5tèts1r.enrs and our aUd0T,5 report ihereon. T.e dl.'ectory are responslble ID.. tne ochef 1rtforryiation ttrntainett witnin the ènnual ,'epDrt. OJr oplnion on tle flnap.tlal statemepts dDeS not cover ?he Oief ipfoiiTratlcn apd, excepp to IM exTrt stb,erwise @xplicltlv st¥.ed in our repGrt, we do no: 2xpre5s èny lorm cf assurance CODCiVSiOf. thereop.- Ou.. 'espoislbililY 15 to read Ine other ifj!crrn810 antl, .'r, doin& so, COf.5ider wbeiher ihe other inlcrmatiary Is r•2[jalty ipconlstent wlth the !Inancial siatem2nt5 or cJr kryowiedge obtalp.ed in tne course of the audi?. Of Otherwise èppear5 to be ryaterba ty misstated. If we ."der,tify such mvtefial Incons.'steneie5 or apparei% IT.aieria. miSStoiemeThts, we ère Te4uired to deter,.Ine whetner tnis 8Nes rise IQ a Ir.atefias mlsstatement in fiP.afiCSèI StateTr.ents therriseive5. ffb. o" the w-r* we have performed. we conclude that there is material misstateniert of this Other r.foimation. we 3fe requiredto rtportthatfatt. We tyothin8to repor( ID this regard. Oplnion5 on othtr matten presrrtbeo ty the (nIeS Act ZWJ6 . eJr Opinion, based on the wo",k Lbnde1aken li the course o. our audit.. the informatlap gwen in +ie directors. report for the firyancial year for whKh the financlal statement5 are prepared, wb.icn inclTrudes the dlrector5' reporr 0pad tsr the purposes of CDWi4PanY l0%¥, 15 cony5teit wrth the Iln8Jclal ststements: èfid the d";reiors' report i-.knuded wrtnin the director5 report has been prepared ID accordance wlt4 applicable legal requirernents. 61Page
CREATE IARTS) LIMITED (A COMPANY LIMITED BY GUARAfEEl INDEPENDENT AUDrroR'S REPORT (CONTINUED) TO THE MEMBERS OF CREATE (ARTS) LIMrrED Matters on whkh we are requlred to by •xc•pt] In the li8hi of the knowled8e and understandlng of the charlty and its eAvirortment obtalned in thÈ of the audit. he not identthed material MStatet$ In the dlrectots, rep)rt included within the directors, report. We havè nothlng to report In resFert of the follory mattets in relètion to whlth the Companles Act 2W6 requlres u5 to reportto you ff. In ouroplnlon.. adequate accountln8 ¢0$ h•¥e not been ke or rturn5 1dequ•te fvr our •udrt hJ¥e It been recefved from branches not visited by us.. or the financial Statements are In a8reemeN wr(h the ac£oufitin8 record5 rturns,. of Cerra dlsckisures of irustees, retIOn Specrrd ty law are not made.. or we have not receNed all the Information and exptsnatlons we require forour audit.. or the directors were not entitled to prepare the flnandal statemenis in accordance wlth the small compan5 r4lrne and take advants£e ot the smau Compan$, e¥ernptk)ns In preparlnK fv dlrertors, report and from the requlrernent to prepare • str•te8lc report. R•sponslbllths ol dlr•¢tovs As explalned rTe fully in the ststement of directo. respohsibilities. the d1ctorS are responSit fof the preparation of the flnanclal statements and for beini satlsfied that they O¥t a true and fail and for such Internal control as the dlrectors determlne 15 cesSary to enable the w•parntlon of f4nanclal ststèrnents that are Iree from rnatèrlal mlsstatemeni wheiher due to fraud or error. In preparln8 th nn•nclal st•tement¥ the élrectors are rewnslble for assesslry th• ch•rlty's abS11ty to CDritlnue is a 8oln8 concern. dlJclosln& 8$ appllcable. mattets rtted to goin8 torrn and u51n8 the iolnc concern b•sls of accouniing unsS the dlrKtws eit1 Intend to Ilquldate the tharrtable company or to cease operat6on& or no rea115tlc alternate byt to do $0. Audttor's r•sponslbllltlw forih• wdlt of th•lln•ncL41 statsments r oblecti%s are to obtaln reasonable assurance aboui wPther the fin•Acl•l slatements •$ • whore are free frorn materlal rnl$stat•mènt, whether due to Iral or error. and to Imue an audltor's report that hKludts our opSnlon. ReasoThable as$uranc• Is • hl8h level of atsurnnce but Is not a warnntee that an conducted In accordance wth I5 IUKI wlll alw•ys detect marerlal mlssiatement when rt exists. mtateMerSt5 can an5e from fraud or error and are con51dered materlal If, Indivldual or In the 8K£reRate, they could reasona be experted to 1nfiuee the economr decision5 of u5er5 tsn on the basis 01 these flnancial sfaiements. Irregukirities. Ineludlng fraud. are Instances of non<ompllance wlth laws and regulatknns. We deslgn prottdures in line wlth our responslb111Ès, oudlned above, to detect rnaterlal m155tsternents in re5Frtof Irregularltles, Includlw fraud. The extfrni to whlch aur NodrS are capable of dttéthw Irre8ularlt*s, Indudlw fraud.ls detslled bebw. 171 Page
CREATE IARTS) UMITED {A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT (CONTINUEO) TOTHE MEMBERS OF CREATE (ARTSI LIMITED Extent to whlch the •udtt wo% (sIdered capable of IrYtyilaiitie5, indudln8fraud We identify and aSSES$ rhe risks o. Material mIsstaterrTrt of tle finaDciai Stskements. whether due to fraud or error, and then desp and perforrn auult pr¢cedures reswfjs':¥e to those r.:sk5. inclidin8 )btsining audit ewdence that Is sufficient and appfoprbte to provide a basis for Our opinion. Identhlnland Jss•sslo8 Potential risks r•ld to Ivr•8Utarltl•s In Idenrifyiig and asse55in8 Ylsk5 0.. materpl m';sststemwt Irs resFeCtol iryulorltles. Induding fraud and non-compllance wh laws and re8ulatlons. we cop.sldered the loilowip4'. the natbre of the Ir.thJ#ry and sector, contrrA tryreMent and business performantè; the tompany's own a55e5Srntnt DI I.e rlss tlot 5rTe8tslarltles may occtsr eit,.e'. a5 a result ol raud o". error,. the rèsults of our enqulries of mana8ement and nembers of the Board of DIreCto of their own fdert.rficatrt and a5se55ment of the risks of IrTegularilies.' any Matters we Identif0 havin¢ ¢)btssned and reweTrhd the tompaty's docurnentatlon ol thelr wlkles and Pfocedure5 relatin8 to-. Identi,yin& evaluating and comptylni wrth laws and rrfulatbns and whether they We aware ot any Instances of non-comp11ance-, detettin8 and respondlng to ihe r,sks of Iraud and w4ethtr they h4¥e knowledp of any atto•l, suspected or allege fraud,. the Internal contro15 e5tabi15hed to M[gate dsks of fraud ur noTrcomplb)nce wlth law5 and regulatlons,. and the mètters dixus5ed amon8 the aJdit er.ga8ernent team rellardlng how and ere ITaod might occur In the flnanclèl statements and any poter.tial gf Iraud. A5 a result of thÈ5e procedures, we considered the OPPOTfuryi¥ies and Incentfves thai m•y exlst wlthln the company for fraud and Identified the 8feattst wemial for fraud in tht following •Tea-. The t118 of tbe recognltlon ol ievenue. Ir. corr.rnon with al,. •ud',ts under ISAS IVKI. we are a150 re4uired to perform speciflc procedures to respond to the risk ol rnana8ement overrlde. We also obtsinEd in under5tandlni of the leRal and regu.'atory Ir•mework that the coypany gpera.es In, focusing on prov',sk)n5 of those law5 and gUlationS that b.ad a difeci effett on dètèrminatlott of material amounts and d15closure5 in the linanclal 51atÈmenis. The key law5 afid TtyLItK)ns we considered In thi5 context included the UK COM1e5 Att and bcal In addition, we consldered pr¢)vlsie*S of GtheT law5 and reiulations that do not have a dlrert eyed On the flranclal statements ut Co.14a(e wRh whkh may be fuftdamental w the COT.oany's ability to operate or to avoid a material penèlty. Thesè Incluéed Data protect) Re8ulatlon& 181 Page
CREATE (ARTS) LIMITED IA COMPANY LIMITED BY GUARANTEE) INDEPENDEKf AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF CREATE (ARTS) LIMITED Autht 11SP(is•to rlsks Id•ntSfied A5 a result of perfoTming the aiThE. identitied the Iwnlry of the recognit of rtvenue as the kry audit Matter related to the potentlal rfsk of fr3ud. In addition to ihe zbove, procedures to respond to risks thntthed included the loJlowiTr8'. revlewln8 the flnancial statement dlscbsurès and testin¥ t0 5UPPOrtln¥ documentation to assess complLince wlth iélevant law5 and re¢ulations dtstribed above as h£ • dlrtrt effect on the financial 5tsternents.- enqulrlnc of mana¢emerrt •nd meml)ws of the Board of D(recthrs coremlni actual and potentlal Iltl8aticn and performlng anamlcal procedures lo tdentfy ary unusual or unexpected felatlonshlps that may Indlcate rlsks of material misststement due to Iraud: • readlng minute5 of meetlngs of those charged wtth governance and revltwlng CorspOndente with relevant authorltles where mattets Identrfied were sign+fic•nt,- and n addrnssln£ the rlsk ol frnud throueh rnana8ennt overrKle ol testln8 the approwlatemss of journal enffies and other allustftts,' assessing Wr the judyments made In makln8 xcouThtrng estlmates •re indl¢ati¥ of o potential bias- and evaluating the bu5$ rationale of arty snifitant transa(tsons that ale unusual or otjtslde the normal course of buyness. We also comrnunlcated levant thntSfd wS and rewljtlons and pgtsntlal Ir4ud rlsks to all erlernent team memter5 and remalned jrt to any Indlcatkns fraUd or non<ompllance wlth laws and 411100n5 th1ohoUt the audlt. A further descrlpiion Qt our responsjbllltles Is av•lLible on the Flnandal ftepgrtlng Ce4JKIVs *bslte 4t.. https.'Il www.frc.or8.uvaudltor5responslbillt)e5. Yhls desttlption ftyms part of ¢T au(tht$ report. 191 Page
CREATE (ARTS) UMITED (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT (CorINUED) TO THE MEMBERS OF CREATE (ARTS) LIMfTED Us¢ of our report .b. fha=ter 3 of Part 16 of the Thls repo.Y is rn.ade solely to tb.e charitable company's rnber5. a5 a body. in aceoroance w1. Cornpanies Att 26. OiJf 3udit IrX has been Jp.dert.aken so rb¥. we ni'.8t stste tc the charl1ab company'5 MberS those mav.ers we are required to state tc therr bp ap audrtor's veD9rt ano for ryo o:r.er purpB5e. Tc Ihe fblr. extent permitted by law, we do not accept or assume re$ponsiDiliy& to anyone rfLher than rtte ch?.'1'ae £)rnpar,y ano the chari'able company's memoer5 ès a dy, for DJr abdit wcrk, for tttis re-. . for the OD'.nions we h.ave frJrrr.ed. -)) L_o A1150n Buckley Isenlor strtory Audll¢x) lor ard ON behalf of Mitchell Charl•sworth Ac£ouNants Staty¢ory Audbtor 3rd rlo3r 44 Peter Sireet Manchester M2 5GP 201 Page
CREATE (ARTS) LIMITED {A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL AcrivmES INCLUDING INCOME AND EXPENorruRE Accoupir FOR THE YEAR ENDED 31 MARCH 2025 fund5 2025 funds 2024 fimds 2024 2024 Not Income from: Donations and legacies Charitable actNltles Other trèdlng xtmtles Investments 569.622 33.638 17.538 44.382 737,132 167,916 1.306,754 201.554 21,598 44.382 437,882 37,737 13.357 35,721 559,911 147,321 S,200 997,793 185,058 18,557 35,721 SnEom• 665,180 .108 1.574,288 524.697 712,432 1,237.129 Exp•ndlture on: Aalslng fu•ds Charltable actfvlllès 155.Tr0 273,680 155,770 SY,699 L182,379 115,756 407.467 115.756 1,132,719 725.252 T+1 axp•ndnur• 429.4SO 8.699 1.338,149 523,223 725.252 1248,475 N•t lncornellexdItr• 235,730 236,139 1,474 1118201 111.3461 Transfers between funds 28.678 12S,6781 N•t rno¥•m•rt In funds 264,408 128,2691 236.139 1,474 1118201 111,3461 R•concifiatlon of funds.. Fund balances at l Aprll 2024 731.098 S40,453 1.271551 729.623 553.273 1,282,8% Fund lanCeS at 31 Mrth 2025 995,SC6 S12,184 I.507.) 731.097 540.453 1.271.550 The statemert of flnènelal artfvltles 11KdeS all galns and tr)55es recognlsed In the ar. All lrtcorne and expendthre delive trom cofttinuing actniities. 211 Paze
CREATE IARTS) LIMITED (A COMPANY LIMITED BY GUARANTEE} BALANCE SHEET AS AT31 MARCH 2025 2025 2024 Fixed assets Tan8ibie assets ij 2S,158 38,263 Current assets Stocks Debtors Cash at bank and in hand 50.LNKI 50,OQO 99.642 1,262.735 15 1.522,636 1.671.642 1:69,1101 1,412,377 1159.0901 Credltor& arn11 falllnl due wlthln on• year 16 Nrtcurr¢nt iss•ts 1,502,532 1,253,287 Totll awts less ¢urrnftt IlabllttJ•J 1.527,690 1,291,550 Provision for other Ilabilitiés 17 I20.(> 120,0001 Net assets 1,507,690 1,271,550 Thefunds ofth• £harity Restricted Income fund5 Ur,restrlcted lund5 general Unrestricted lunds- Oe1.ated fvThd 19 zo 512,384 839.182 156,324 540,453 613.285 117,812 1.507,690 1,271,550 The financial s etsts wefe appro¥*d by the dlredots on 4 September 2025 rm•n Comvany reg15tratlon number 4728145 (Engla and Wale51 211 Page
CREATE (ARTS) LIMITED (A COMPANY LIMITED BY GUARANTEE) STATEME OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH2025 2015 2024 otes Cash flowsfrom operntint xllvilie5 Cash generated fr¢113b50Ibed by) 25 215.519 147.1321 In¥estSw adK*I•s Irwemment Irme [eNed 44,382 35.720 Net ush Ken•rthd from In¥estlrya(Il¥ftles 44,382 35,720 frl•t ash Dn•r¥l•d Irorn Ifn•ndry •dl¥ftl Ilet In¢M•s•lldeueas•l lfi cash and Q5hequ¥beknts 259.901 111.4121 Cash and cash equfvalonts * be¥inniTr8olyeai 1,262,735 1,274,147 Cosh •nd ¢(l¥•Ints at end ol y•ar 1.522.636 1.262.735 23 | Pa8e
CREATE IARTS) UMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL ATEmENTS FOR THE YEAR ENDED 31 MARCH 2025 Atc¢wntln8 pdlaes chaly Infomiawon Create (Arts) ' irnited ts a C4aritsb conpany Ilmlteé 8u•rantee Inr90rated in En8bp.d and Wale5. ly the event of the campany beiryg wouna up, the 11A1 ty kn fesFect of 8uararytee is iimiteo to £1 nembpr ol the charity. ThE regisiereLS office 15 3rd F'.oor, 14 AL'5trn Friar5. Londor,. EC2N 2AE. 1.1 AccouDlin£ mnbYntl( The flnanclal 5totements have been prepared In accordance witn t¢ Comp3Th1es Act 25. FRS 102 "The Financlal .2.1 and the Charities SORP "Accourytin8 and Repor4ina Standar¢ applicaDle In the LIK a•.¢ Reputslit o! ireiafjd" I"FRS . Repor+ing by Chèrities.. Ststemei: g! Aecomtr.endeo prattl agplicoljle ch3T'tSes prepa':ng ihelr account5 in a:coroance witn rne Fi114iiLldi Reyvi'tiftg itsD.d•i -¥lif Al I'elavd I$11S 1021" lefF•rt4ve I January 20191. The chafty 1$ 4 Publ+c eenesit Entiry ?5 dtfr,rd by FRS 102. The financial 5taiernents are prepared in sterlin& wlich hs the functional currenry of the charity. Monetary amounts In these linanclal statements are rounded to the nearest E. The Ilnancial State.ents lave been prepareo under the h&wrkal cost conventlon. The prlnclpal accounting pollcles adopted a set eLit below. 1.2 Golni conce -s hove a reasono>le exvectatlon :hat the tharity ha5 At the lime of approv'.nK the Ilnancial statetyer.t5, I.e dirett-. adequate iesovrces to "ontinue in opera:niial exisienre lor the foreseelble ,otdre. ThLS fle dlrectors ccntliL¥e to èdopt the goln8 concern b•sis of atcDuntin8 ID Pfeparlng the ftnanciai stame.$. 1.3 Ch•rli•ble funth Unrestrlcted funds are a¥allable fof use atthe dIsClon olthe dlfectors in lurtherance ol thelr ch•rit)bl¢ oblectlves. Restrkted fund5 can on5y bé used for the p3rtlcylJr purpose wlthln the objects of the chirlty. Restr1?$ èrlse when specilled by thè donor or when funos a'e appliea for a SPEclfi- restricd PL4rpose. In hè.malority of ca5e5, restrirtad funds are those which have been receed In the ar b't ao qViTed to be aDolied to projects which I not 80iig to commence ur.tii the followln8 yea,: 11 those wolerts do ntst proceed then ln some cases those lunlls will have to be rétumed. Designared funds •re unre5trided fvnds whKh have been set aslde by the direciors tsT an esseniièl Spend N futu PUfP05e. 1.4 Inme Recognition Lrf Trncpme Incorning $0..ceS Iror, charable actN'.tle5 have teen aDatysed aCCOrriin8 to type of fu'nrl&P¥ fEcefved ?5 Ihe tharlty has one rnaln acimty. which 5$ tne deve1Cent and de ¥ery of projects. 24 | Page
CREATE (ARTS) LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTE5 TO THE FINANCIAL 5rATEME5 IcoKfiNUED) FOR THE YEAR ENDED 31 MARCH 2025 Acwuntlni polld•s Icontlnuedl Fees. spNsoYship ind e¥ert Fee5, spoThsorshlp and event irKome arÈ stated netof daUnts arld VATand are reco8n4sed on a receNable basls. Grnrtts. don•tlons and sp(Ml1P Intorne from don3bons and grants 6 recnISed the thirlty Is efttitd to the fuThls, Tlp¢ Is probable and the amount can be measured reliably. For donations. thls is usualfv on recelpi. For grnnt5, this ts usvally when the formal offer ha5 been made in writin& nS the 8rant contsins teirns and conditlons outside of the charity's control whlch mLt be met before the tharity 15 entided to the funds. Much of the ftsnding for Cate.$ tharitable woth deths from yants. th)natTh$ and sponsorshlp, whether from the publt sertor, companles. trusts and knndaWon5. or Indlvlduals. Such SUPFQrt Is often direrted rowards a particuL4r event or project. Such recelpts •re •ccwnted fof as rtstrirted fund5 Ind ¢¥pendlture Is rnatched a6alnst the Income as Incurred. Investrnent Income Is récolnlsed %theTh receh•ble. Le6?cies are reeogTh15ed on • rrfefv•ble b•sls On the condltbn5 for t CtIpt ha bo•Th satlsfieil •nd the •rnount can be meawred reliabty. 1.5 Exp•ndlt4 Uabllitles and related expendrtur are recognlsed when a present le8¥1 or constructive obllgatlon exlsts at the balance sheet date as • result of a past e¥enL f( is probabbe that a transfer of economic beneflts wlll be reoulred to settle the obllytlon and the arn¢ can be measured lbly. EMp•ndllure Is allocated to the partlcular actmty Wre the cost relates dlr•ctty to that actNIty. The tost of overnll dlrectlon ar •drnlnlstratlon of th•rlty is iLded wiihln the WPFQrt costs a5 P3rt 01 tr cost of ¢h•rlt•ble Clfvitks. All resources expended ate lThc1use of Irrttoverable VAT. Stsff eCts have been olbjcated to ihe expendlture heèdln8S On ihe basls of an estimate of the arnount of time spent by staff members In each èrea. Expendlture 6 reco8nlsed once t5 a lepl or Construct obliptkM to hnsfer ethnornlc b•nefft to a thlrd p•ttr, It IJ probatAe thai a irnnsfer of economk benefits wlll be required ITh setbefit aThd the amount of tsbllÉèt5on un be measured rellably. Expendlture Is classthed by actfvlty. The costs of each attfvity are made up of the total of dirert costs and shared costs. Inclvdin8 5UPPOrt costs irNoW In undertaklng eath attivity. Shared costs which ccntilbute ro more than activity and support costs whlch are not attribLrtable to a $i1e artivity are appOrtne between ihose actiVitS a basis consistent whh the use of resources. Central stsff costs are allocated tl bays of tirne spenL and depretlatlon charys •llixattd on the portTron of the asset's use. Exn&ture on ra15ing funds Indudes all eXpendire ITrred ty the th•fity to rni5e fvnds for rts charitsbk purp95•5 nd Include5 Costs of all fundrdtslng aCte$, events and Mn<hadtsble tradin¥. Expendtture on charitsble artrytties is Incuned on dkectjy undertakn.ng the athvitEs whkh fvrther the charlvs objectfve. as well as any a5$0clated support Costs. 1.6 Tan8lblo fixed assets Indwiduzl assets cortlng £l,SLx)ormore are capiiallsed atcost. Tanglble ld assets are In.81 measured at cost. After retoenition. under cost model, tanglble fixed a$5et5 are rDea5uied at cost less 3ccumuted depreciation any accurnuLated 1rnpairnt 1055es. All costs itKurTed to brlng a tsngiblefiy& asset into its intended workin8 condrtbjn i included in the ffea5urement of Iv5L 251 Pagè
CREATE (ARTS) LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENfs (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting polld•s Icontlnuedl De-reciatlon Is char8ed 50 35 to allocate the co5: 01 tsn¢itAt Ied a55ets less thelr reSlJaI value over thelr estlmated useful INes, uslng tP&e 5tra',ght-iine method. DepCiatIOn pro%Aded on the Idlowlng bo$15= Leasehold Improvennts Fixtures andtittlngs 1.7 lrnpalmient ol fljted a$5ots At each reportln8 end date, the charity re¥3 the carryln8 amounts of rts tsn8ible assetsts determine whether there Is any Indlc•iion tnar tP.05e asseis have suffered an Impairrneni Ioss. If any such indlcatlor. È¥15ts. the recoverable arnount ol the ass ts ellimated In ordei to determlne the exteni ol the irnpairment1055 lil anyl. 1.8 Sto¢ks Stocks are valued ai the lowe." of cost and net reaii5able va'.ue after makiry8 due allowance for ob501ete and slow.mo¥ln8 stocks. C05t Include5 311 dlreci costs and an appropriate proporyion Gl fixed and varlèble overheads. Net reallsable value Is te estimaied selllne Pfke less all estlmated costs of completk)r. costs to be Incurred In m4rketin8, 5elllng and dlsirlbution. 1.9 C•sh Ind cash ¢qulwlerti Cash a bank ènd In hand include5 cèsh and short-term higtrty liqvld :'•vestTr,¢.4ts th a short rnaturlty of three month5 OT less from the dace o. CquItIon or open¢nB of the oeposit or s.'rnilar accotsni. 1.10 Anand•l Instrum•nls The charlty has elected to app the pro¥lsions of Sect.'on 11 ?astc Finar4Ciil Instruments. and 5ectk7n J2 '0ther Flnanclal Insirunent5 issue5, of FRS 102 t) all of its financial Insiruments. Financlal Instruments ère reco8nlsed in the chariiV5 bolance sheet when thè becornes party to the tontrattual Pfo¥l$nS of the instiumen: Flnarlal assets ènd ilabl1t$ are DffseL w the net presented in the finanual ststemtnts, whep there Is a legally enfo.-eaDle rlght •0 Set off tne recogni5ed arywnts and there 15 an irttentbn to settle on a net basls or to rtallse the asset 2nd settle the112tyTrilry simJltaneously. sl¢Alnun¢l¢lossttS Basic financial assets, whkh include debtors and cash and bartk balances. are inltklly rneasured at transaction price Including Iransaction costs anc are sutlsequently car,'d at arrortIsell cost Using he effective interesr mehod uiless the afranKemeD.t cor,5titb'tes a finarcing transattio*, where Ihe transartson Is eaSL1[ed at the Dresent value ¢$ tbe future recelpts discounted at a market ra ot Ir.terest. Finanual assets clossified as.'eceryable wlthir, cne year are r.ot mcrtt15ed.
CREATE (ARTS) LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMErirs (CONnNUED) FOR THE YEAR ENDED 31 MARCH 2025 A¢countln£ polkles IC¢nt5nued Buskfvondollkbllftles 8aslc finandal liabilits. Irluding creditors and bank loans are initialty rEco8nised at tr31CtIon price Un55 the rraryement constitutes a finarKlng transattion. where the debt instrument is meawred ar the psen1 value of the future payffnts dnted at a mark£t rate of Flnanclal Ilablllllts dasstfied as pae wlthln one year I not amortised. Debt Instruments are sub5equenty rarrted atamorttsed cosL usirq the efferti¥t In51 Trte ftRthod. Trède cieditor5 are obllRatlons to pay frr8ts)d5 orstS that have been acqed in the ordlnary course of oFeratlons from suppllers. Amount5 payab are classrfied as current Ilabllits If payment Is due within one year or less.11 nDt, they Ire presented a5 non-current lthbllrtles. Trade credltors are recrynised Inrtl•lF¥ •t trlnuctlon pdce •nd subsequent rnea5ured at amortlsed cost uslncthe effethve Interest method. Dere(vgth olflnortlolllolfftles Financlal Ilabilities are derecognlsed when charwstontrnrtual obllgath)n5 explre or are dlscharyed or Caelled. 1.11 Tax•tloA The ch•rlty 1$ exempttrom CorpLN)on Thx on its ch•rltsbk attfvits. 1.12 Provlslons Provlslons are CO$nIsed thÈn charty has a 1 cvconstnjttive psert obligatlon a5 a result of a past event. It15 probable that the ¢harty wlll be requlred to Sett th oblatkin and a rtlL4blÈ tstlmatè taft be made of the amount of the oWIKatlon. The amount réto¢nlsed as a PrO$10n13 the best estlmate of the conslderatlon required to Settle the present obllgatlDn at the reportlng end date. tsklTr8 Into account the Mshs ènd uncèrtalntles 5urroundlng the gbllytyon. Where the efftrt of the tlme dluè of money Is meIl, the arnount excted to be requlred to settle the oblatlon Ls recogTh15ed at present value. When a provislon is measured at present value. the Unwindi of the discouni is recognlsed a5 a flnante COSI In net IKornellexpenditurel In the perlod In vthieh arises. 1.13 R•tlr•m•rt benetits P•nslarti Create (Artsl Urnlted h•$ ser up in auto enrolment COM51Tht nSIon scheme Into whlch the eMpknes are enrdled. The pen51on £05t In the flnaral statements iepresents the contributiorts payable bythe charlty durln8the year. Crltlul K¢ountlni •stlm•s AnddIM•ts In the apF4irAtian ot the charws accouThting polic5. the directors are wIred to make judgements. estimaies and a5sumptlons about the urNng amount of assets and Ilabl1te5 that •re rKX re•dlty Ippant from other source5. The estlmates and assoclated assumptlons are based on hlstorfcèl expertence and other factors that are consldered to be levant. Actual rtsutts may dthr Ivorn thèse estlmates. The estlmates and underlying a55umptions are reviewed on an ongoing Iwi5. RevisN>ns to aCCfMJnting estimates are recognlsed In the pèrlod in whlch the esttma is res *the the revlsh)n affects On that peAod, or In the perlod Df the re¥lOn and future Feriods where the wision affects both current and futyre perk)ds. 27 | Page
CREATE (ARTS) LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENfs ICONTINUED) FOR THE YEAR ENDED 31 MARCH2025 Incomefrom donions and Wcl Toi•l Unre5triCd Restrlrted fvnds fvnds 2024 2024 Totsl fvnds 2025 funds 2025 2024 onations and legacle5 Gènts 266,999 302,623 266.999 1.039.755 147.901 289,981 147,901 84992 737.132 559,911 569.622 737.132 1.306.754 437,882 559,911 997,793 Intiuded In the above are gran:s rected from Tle ChartkEred AccoLnt3nts' L',.very Charlry. City Bridge Foknn&ètfi, Comle Reilef. Coutts Chariratsle Fo'Jnoatlon. Debh Loeb 8rlce Doncr A¢v15ed Fund at CAF, Garfleld Weston FoLi4daiion, John Lyon's Charity, KU5110 Tri•St. The Quliter Fwndatlon. Santsnder Foundation, Saiah Jane Leigh carabSe TTU5t, The LInrY Tnjst, The er:e[S Compary, The Rory and Eiiubeth Brooks Fotsndotion. In¢ome frorn thwllable •ctMtI•s Unr•rtrld•d R•strfc41d fvrlds fvNII 2025 202S Totsl Unr•strirted Aestrkted fvndj lun05 i0Z4 2024 Totsl 2025 zoz4 Sponsorshlps 33.638 167,916 201.SS4 37,737 147,321 185,058 Incorne Irom othtrtradlni adlvltl•s Unrestrlcttd funds 2025 R•strkted funds 2025 Total Uw•strlded fvnds 1024 Re51ricled fur$ 20Z4 T+Jtal 2025 Communrty lundralslng Create Llvel For Bu51ness 17,538 17.538 13,3S7 13,357 5.200 5,200 Other tradlng artive$ 17.538 21.598 13,357 5.200 18,557 281 Page
CREATE (ARTS) LIMITED {A COMPANY LIMITED BY GUARAKfEE) NOTES TO THE FINANCIAL STATEMENTS (coKfiNUÉD) FOR THE YEAR ENDED 31 MAROI 2025 Incorne Iv•m irbvestrneftts Unrejtrirted Unrestrlded funds funds 2024 Interest recelvab 44,382 35.721 exp•ndltw• on rn151ni funds uMr•ttflLt Unr•strlrt•d rKIs funds EmplOe costs Support costs 78,644 37,112 37.920 155,T70 115,756 Expendliurn •)n ¢harItsb Éxpenthrn ExpeTrdlturn <h•rlt•bl• on ¢h•rrt•bl• ZOZ5 Z024 Dlrect costs EmplOe costs Dirert costs of proletts 651,f03 315.819 586,441 335,979 967,9)2 922,420 Share of supfvlrt and 8owrnarKe¢osts Is•* note 91 Support 214.877 210,299 1,182,379 1,132.719 Analysts byfvnd Unre5trkted fvnds-general Aestricted fund5 273.680 908.699 407.467 725,252 1,182,379 1,132,719 29 | Pale
CREATE (ARTS) UMITED (A COMPANY LIMITED BY GUARANTEE) NiyfES TO THE FINANCIAL STATEMENTS (CoriNUED) FOR THE YEAR ENDED 31 MARCH 2025 Support costs allocated to actP45tl 2025 2024 Employee cosis Depre¢tIOn Other staff related costs Inwrance 85, j04 13.105 4,636 4.887 73.898 13.105 4.697 2,242 E il Rentlservice char8e Otner prernp5es Expenses Communlcatlonslbrandlng IT sofpware P•y,'oll cost5 Irre£overèble VAr Auditors remuneratlon Sundrie5 70.G63 25.593 11,¢32 8,981 920 18,797 67,238 23,492 5,113 19,215 B80 26,712 io,oo¢ 819 252,797 247,411 Analy5ed between.. Expenditure an ra.'5ing ILinds Expendltur¢ on charltable actfvrt*5 37,920 214,877 37,1 t2 210,299 252,797 247,411 10 Net mowment In funds 2025 2024 The net movement fvnd5 15 stated after chary4ndlcred6tiw)". Fees payatle for thE audlt ot the cha¥ity'sfir?nclal StateTrts Depreclatlon of owned tsn8ible fixed assets 8.500 13.105 10.000 13,105 11 Employ••s The average mont11 nurnbei of empbwe5 (ljrinoihe year wa5.. 2025 Number 2024 Nymber Project management CornrnunlcatK)VS Developm2nt Management Finance 12 li Total 22 21 301 Page
CREATE (ARTS) LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS ICONllNUED) FOR THE YEAR ENDED 31 MARCH 2025 11 Emplty• IContlnu•dJ 2025 2024 Wages and salarle5 5oclal securtycosts Other pe[On costs 762.890 72.ClS 20,142 650,308 60,510 18.165 855,037 738,983 Tht nurnber of trnployees •nnuil rernunerayon was more tn f60.tXKI Is as 2025 Numb•r 2024 Numb In the rtd £70,OJI- E80,CiXI Nonè olthe directots recèlved rernuneration durln8 the ar(2024.. none). No expenses IKurred by the dlrectors were rèlmbursed. ExpeTh5es walved bythe dlre(tors are Immatrrlal. 12 T•xatkn The charltylsexempt from taxatkn on Its ctfvI becausè all Its Income ts applledbr charttJt4e puiposes. 13 T•r¥lbl• flx•d assets Cort Al l Aprl 2024 20.LN)O 44,473 64,473 At31 March 2025 20.C*y) 44,473 64,473 DeptIOn and lrnpatrmeni At l April 2024 D•pieclatlon char¥ed In ih• ar 8,420 4.210 17,790 8,895 26,210 13,105 At 31 March 2025 12,630 26,685 39,315 Cèrryijyarnount At 31 March 2025 7,370 17,788 25.158 At 31 March 2024 11,580 26.683 38,263 311 Page
CREATE IARTS) LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMEKrs (coKriNUEDI FOR ThIE YEAR ENDED 31 MARCH 2025 14 Stock5 2025 2024 ¥Ework donated for resale 50.CIJO s0,C0 IS Debt¢xs 2025 2024 Am¢)unt5 falllnl du• wthln one yw. Trade debtors Prepayments and accrued Income 25,229 54.306 L7,171 63,000 79,535 80.171 1025 20Z4 Am¢)urt5 falllni du• after m¢xtth•n one y•af: Other debtor5 19.471 19,471 Total d•btors 99.006 99,642 16 Cr•dlltyS'. am01111ry duewlthln one yoar 202S zo OthÈr taxarion and sodal urIty Trade credltors Accruals and defer*d itKome 29.336 38.809 100.965 21,436 28,614 109,040 169.110 L59.090 17 Provlslk1 liibHltSes 2025 2024 office dilawdatlon prowslo 20,OLKI 20,000 Movements on provlslons: At l April 2D24 and 31 March 2025 20,CQO 321 Page
CREATE (ARTS) LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL sfATEMENTS {cOlNuED) FOR THE YEAR ENDED 31 MARCH 2025 Rettremènt benefrt s¢hemes 2025 2024 Deflned contrlbutlon sthemo% Charye to pwfit or loss In reswctof deftned contritrArtion schernes 20.142 18.165 The chaiity OFerates a defined contrfbutk+rt pen5kn scheTh for all qualfylng employees. Thea55ets ol the Kherne are held separatelylrom those of th• tharlty In an IndeperK1ent administed1J. 19 Rertrl&tsd funds The restrkled funth of the chrltycornprhe the upeTrded lanCeS of donatlons and irnnts h•bd on trust sublett to specfflc condltKins bydonor5 OS tD howtw may ysed. At I WI 2024 At31 Mh nd Marqln•llsed chlldrÈn & adutts VulneTrble older people Nurturin8 TInt Youn8 & adult carers Young Patlents DiSabd chlldren & aduks Ytyjni & adult prlsM•rs Hub reate th1 For Buslness Evaluatbn 49.306 52,982 928 314.599 6,861 81.411 18,672 15.694 83.434 147.3741 1106.3391 12,5001 1458.9501 152.9151 1127,6201 193.2471 115.6941 14.0601 14.2921 118,7731 1,572 1,681 81,074 22,418 420,073 68,445 112,122 101,416 277.403 22,390 62,OC#J 21,889 13,9131 14,9521 25.010 25.010 $40,453 9J9,108 I,699) 128,6781 512.184 331 Page
CREATE (ARTS) LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAI 5TATEMEMrs lcoriNUED) FOR THE YEAR ENDED 31 MARCH2025 19 ReslTiCttd fwds Icontlwtdl PrevI$ar. At l Apru 2023 Incomkng Re5our¢es Trarthts At JI M•rth 2024 Mar8ina115ed:hlldren & adu$ Vulnerable older people Nurturing Talent You48 & adtsl* carers YoJng patient5 Disabled children & adv5t5 Young & Aault wisoneTS Manchester Huts Create Lfvel For tsuslness 11.000 57,648 133.3561 ,'104,8011 114,>721 4326.4581 49,306 52,982 928 IIXl,135 LS,50C 319.319 47.028 119,709 15.340 15.694 5.21XS 2.845 321,738 J2,514 116.421 33,9)2 314,599 6,861 81.411 18,672 15,694 11 S4,7:91 130.6201 15,2001 12,8451 $53.273 711,433 725.252 540,453 20 Unrestrlrted funds The unrestrlcted funds of the charity comprise the unexpended balances of donations and 8ranis whlch are not 5ublect to sptclfic ccndi:ion5 by dov.ors ar.d grary4ors as to how they may be used. These inclJde de5 8nate¢ fund5. which have been sèt aside out of Jnrestr',cted liinds ty the trustee5 For specif.( p¥rp05e5. D•slgn•ted fvnth At l Aprfl 2024 Inwmlr Tr•niftrnG•lns and10ss•5 At31 ZOZ5 41.710 38.263 41,7LO 25,158 Fixèd asset fund Charles Lloyd- Jones LeKa¢v Fund creatlve.. tonnectlon Projett Equipment North West Hub 113.lOSI 11,5751 4,725 20.539 115.8081 4,731 ILCK(I Iii,coJi 80,0 117,812 613,286 80.OLX) 585.180 141.4881 1387.9621 156,324 839,182 General fund5 28,678 731,098 665,180 1429.4501 28,678 995,506 341 Page
CREATE (ARTS) LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (coKfiNUED) FOR THE YEAR ENDED 31 MARCH 2025 20 unresiv1tt funds Icontlnuedl Prevlow yt•r. A¢ l XIZ3 Inmi rerreS è*pend¢d TrabufeYsGalns arHI105fe5 At31Marth 2024 CRM Fixed assrf fund Charles LI0- Jones Leycy Fund creètNt'. connertknn Prolert Equlpmerrt 138.7901 113.1051 41,710 38,263 51,368 7,875 11.5751 6,300 20,539 20,539 ii.c 11,000 139.743 589.880 31.539 493.158 153,4701 1469.7531 117,812 613,285 Genernl lund5 729.623 524,697 523,223 731.097 35 I Pa8e
CREATE (ARTS) LIMITED {A COMPANY LIMITED BY GUARANTEE) NOT£S TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR EAIDED 31 MARCH 2025 21 Statementolfunds Des at•d Funds: CRMItT- 0¢5ign4ted fund to suppori the ImpleTrntstlon of a new Cqm 5V5tern I IT. Flxed Asset Fund - The desi8riated flxed asse: cate80ry vepre5ent5 tèfjglble fixeLS a55et5 that are'J5ed to earry out the charrtY'5 artivit9 trierore readily available for spending. Charfes Lioyd-iones Le8acy Fund- DestKnated lur,0 to 5PPort Nurturlnq fgtsnt. Project EqulsYfient- Deslgnated to suppjrt the purchase ol new photography equlpment fof proiKt5. North Wes: Hub. De518nated fvnd to 5'JPPOrt expansbTh of wo.rk delNe",ed tforn the NW hub. n•r•l F The General Unrestricted Funds represent accumulad Incorre from the Charity's adhltles th•t ère allOt for the general purpose5 01 the charlty. ed Ful$ Mar8lnallsed chlldren & aduhs-Thry fvnds relates to the chadty's Trk wlth marglnallsed chlldren and aduks. Vulner¥bie GldeT people- Thls lund rel•$ to the eharTh's work with vblnerable older peop. Nurturing folent - Tais fund relate5 10 +he charlty's Plurturirfj Tolent pro¢rnmme for emerglng artlst5 to devebp prolesslonal prattice in 3 communlty settin8. Youn8 & adult c•rers- Thi5 fund relates to the charlty's workwith youni aqd adult care. YounK patlents. Thls lund relate5 tothe charlvs YJrk t VOLII8 patients. Oisabled thlldrer. & adult5-This fvnd relales iC+tbe charity's work wrth Jtsoi)led childfen and adults. Yo¥ng & adult pri50ntrs. Thi5 hjnd relates io the tharlty's wlth and Jduh prIsor$. Norrh West Hub-Thls fund reknteslo the charlty's dtvel¢plng Its hub ln Manchester. CreatE Ll¥el For Buyness- Th¥s fvid relates to 4he cTrafly'S creat* workshops wlth co¥p¢rate partners. Evaluatlon - Thls fund relates to charlty's rlgorous evalUatTr ane impact•ssessmeftt. 361 Page
CREATE {ARTS) LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIALSTATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH2025 22 Analysls of net S•ts l)•twew funds Totsl funkls 2025 funds 2025 At 31 Math Z025: yaw1b asset5 Current assetsll1iabilltiI ProvIsn5 25.158 990,348 120,C4X)I 25,158 1.502.532 I20,1) 512.184 995,506 512,184 I,SO7. Total fvnds 2024 zoz4 At 31 M•rch 2024: Thnglble assets Current assetsllliablliliesl Piovislons 38,263 712.834 I20.ClI 38,263 1,253,287 120,CWI 540,453 731.097 $40,4S3 1,271,550 23 Op•rrtlw Mmmltm•rts At the $)rtIfiC end date the ¢harlty had Ourstandi cwmltrrnts for fure mlnlmum least payments under non- cancellable operatlnl leases, whkh fill due as follows.. 2024 Wrthin one lf Between iwo ènd fl¥e ¥r5 76.294 334,476 58,412 102.221 410,770 160,633 371 Pa8e
CREATE (ARTS) LIMITED (A COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMEffrs (copiriNUED) FOR THE YEAR ENDED 31 MARCH 2025 Rélated patty trzThsact DurinE tle year the charlty made paymeTrt5 of £NII to Carol topo15kl12024: £2.5471 and £1,200 to Holly Khon12024.. E4,9CQI in relètlon to the 5eNkes they prwded projeLts as WTiter and musician SpertIve. Nelther were paid In thelr roie as trustees. In aggre8ate, the trustees donations totald £15.52012024= £18,925). The key rnana8ernÈnt personnel of Creade ir. tharge o. plarining. diretting and COntlIr,1 trye chari% and.wnnlY8 4t on day io day basis cornpdse the 8gar¢J ol Trbsrp.es. Chief cxttuv.ve ane Seylor leaderS.1p Te?rn. The i-tal Tern'Jneratlon 3yable to key managerni personrl 16 oeryorys) durfng the year was £25428 12024.. 16 perwnsl.. E298.8881. 2025 25 Cash ynernt•d fr(Knllabwbed hfl opera¢$ 20Z4 Surplu5lldeflcltl for the year 236.140 Adjuitments ler. Investment income recognlsed in statement of linanclal artltIeS Depreclatlon and impairment ol tan8ityle IINed assets 144,3821 35,7201 13,105 Mgv•ments in worklni a1. Oecrease In debt?rs Increaselldecreasel sn cr*dttors 636 10.020 29,245 142,4161 C•sh 8•ner•tedfromllabsorb•d by) op•rntl 215,519 147.1321 26 Anly515 olth•ng•s In net funds The charity had no material debt durln8the year. 38 j Page