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 SOC￿tY 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 soC￿ty'S most disadvantèged and vulnerable pets￿e. 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 gi*ir,g Societys Irosl disad*arytoged ar,d vu;neraDle peoole free access to the benefits ol the creat".rfe arts. To engaoe partlclpa￿,tS Ir '￿?410ree Jrojects led bj. except10￿￿1 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. Clea￿e 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 o*he"5 in nei ways 1t Inspires. emooK4'ers and raises osp*r81,or,s. Ano.. according to ipdLJStrs' .eaaers Inciudir,g the Vlorlr Economic Forum, it Is a core skill lof busi￿*e55. We knovi Ihat unleashing creètivity irJni:es imagir.a'.i0is. develops confidence ar.d builds relationstiips. Like setting off a firel￿10rk. 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 ￿harri￿1005 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 OT*aDie 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 par￿1C1p8nt gTO.'IPS'. ycung psychiatric hosFiial pa:'.ents.' d..sable¢ nLjcreb, -pid adult5', yO'J•g ana aau,, + carers. child*en ',ry care 1 ln area5 of de ap,0 yoiJng c)re leavers,. $C￿¢01C￿lIdren ',ard tneir ieactr,ers, riilatiop... vulnerable older pecpie., young a-..d aadlt prisoievs ,.a￿d 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 c￿or￿tY fas riJv IE 809 creative atts I￿￿OrkshOpS 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 Geth￿ere￿ 'n ￿rt￿lership 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 creatI￿e expeYier,ces ;hat ha￿e 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 t*e 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￿,. t*at storytellLng can 5;rengthen t￿,e bo.nd bet￿e#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 peO￿e 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 neelunteers 152 kOiLJnteers. ir.cliiding those pro¥4deo .y corporate partners, aonated 855 ho.Jrs of their time to Create: using.beir skiii5 a￿d 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 t*e 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 pr*4¥1i¢e creative oppor.4ufiiiies tFNiat ts005t skills. tsJild conr,ections. Increase confidence an6 entriaryce":eilbe'. T*e crea:1+= arts a'.so ploy a ff,3'0r role li +he Èconomy, %ySth the creative indUstr￿S 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 c*ar:'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> Vlor￿S￿Ops iup 2Y> On ttrie previous yearj I 23.81.3LI Vl￿11dreri's creat￿ll1tY th.roug￿. reao'ryg a; 3.130 libray brap.cbe5 acTOSS the co'Jp-.ry. Between June and SeptembeT 2C24 -hildren took part In 'Marvellous Maker5. di5￿0vering ne￿, storie5. cettin.g to meet SK*ver. creative characters ioelo¥¥l. joir,ing in w1￿h free activities at the library. ard exploring;he4T creativity ~ from Junq modell,,ng to musi- dance to crai•iir,g and painting via activitie5 dewsed by Create artists. 13.4 million books viere read as parl of tne Challenge. 4 | Pa8e 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 ￿0￿111[)Ef. exFevnal spearfers ario art.Ist-leLI at A￿tISt 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%lSt*c prac:.i"e i'4ltV4 creative,￿Or￿S￿oP 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 de￿e.,OPMe*t trainipg days an4￿ iAiork as a groiJp to design and deliver 4heir o%ain ¥v¢fKSnOQ a commJniLli 5e*tirry. 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 worksI￿p leader. tr Create's Income was se¢ured via the dekeiopment ol r.ew relationship5 1th1)tl orgap.i5ations Barnett rfVadding*am.' Cutivts.. -* Fosie fct&incaticn. T￿.e LinDUry I., i&5t.' Oc:opu5 ￿nergy. The Quilter oJndatiofj.. w'nite Stdst:,: ne st., er￿ylhen1rVg o.. s'.gnilicani ex'stiig re01.ons￿lPs 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 C*ari.abie i rvs.. Siiile5 fune oy Com[ Rei*f 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 ￿e￿t$. 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',s*i 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 ia*knrS." 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. wh￿h 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 w0￿shops. actlng as positive roie mode15 for the participants. developing new skills and eXper￿nCeS 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 meetin￿event 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 communit￿5 with whlch It works, and the professional artists who delivei this work In determining the charity s Social val￿e, 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¥•r￿ty. 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 . pa￿cIpani 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 Ourpart￿lpants. 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 W￿rKed ':wlth 152 SENO schoo.'- young adults in London. I he en'/ironment.'Ifiatter5 ¢.'og.'amw.e Jeliitered cliTr.a*e-Ihemed projects wllh 123 children at four spe-ial s￿hoolS in Bedlord. Loneon and Sale. A *iide range of artlo,'ms viere explored. Adult carefs . prOv￿ed 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 ldinri￿rgh. Gla￿01V. 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 V0￿e5 at the heart of the event. Prisoners gave prisoners space to exwess themselves. tsJilO Iinancial skills. and create stor￿5 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.soc￿l. 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 lo￿ard to each 5essw?. It was therapeutic Jndpe?ceTul. l alway5 enjoybeing creatlve - it5 stress busterl. P￿￿￿￿nt 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￿.110￿n 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 progra*YiW.e raised aknareness of modefp. slavery tnrD￿gh 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 meanin01￿1 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 a*d i'ilth Up.ae". stan.Ir,g Scc..eiy. vias iDVlteA to write a comwer.t J',ece or Prospect Magazir,e, ar.d 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 vcla*ik'. the curren.F e￿O￿orr.,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. Eac￿1 ol t*e ￿.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.'n*eU 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 DIre￿￿or5 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.JnIC￿t..o￿S. 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.,catic￿S.. Direc.or c! Deielopmen,. -e & Cpera:,.o￿s.. D..rector of PrOgra￿me5,. w.eart o+ forporate Gr3ntsi ￿lalar Giftsi. Dbrectc". OS Fjnari" Deve'Loprr,ent & Marketirjg.. Lead Senior Proje￿1 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 fundrai￿rg 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. InCrea￿ngLY. 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.. addIt￿nal leave.. and team socials. I31P￿e 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 Financ￿1 Reporting Standard 102". The Financial Reporting Standard applAcable in tlje UK and Republic of Irelana (United Kingdom Generally Accepted Acc(NJnting PraCt￿e). 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 st*ps 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 Compan*5 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 O￿nIOn 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 st*rtrnEnt O. Cè5h Iiows and rtotes to +he financial 5toternants, includ5n8 $18riLSica+it aCCObnlin8 POl**les. Ihe financial rep?rtifjg fr*rnework tn?t na5 applied in t￿e1r 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 standar￿5 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 5uffK*nt and approprlaie to Provide a basi5 for cur opin',on. Con£luslons rtlatlrti to goini conctrn In ai*dirin& Ihe flinancla,, $13tery.e*u, 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 t*e fir*anclal ststements are authorlsed for155ue. Cur responslbllltles and the ￿SpOnsI￿1￿*S of the directOTS respect to 80ifi¥ concern ?Te de5trlbed In the relevant 5edloDs of thls report. othef Inform4110fi The other Inlormatlory COMPI￿e5 the Inlorryaiion In￿l￿ded t￿.¢ ènnoèl report other than t4e financlal 5tèts1r.enrs and our aUd￿0T,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 Oi*ef ipfoiiTratlcn apd, excepp to IM exTr￿￿t 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!crrn8*10 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 0￿pa￿d 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 GUARA￿fEEl 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. h￿e not identthed material M￿State￿￿t$ In the dlrectots, rep)rt included within the directors, report. We havè nothlng to report In resFert of the follo￿ry 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 I￿t 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, re￿￿￿￿tIOn Specrr￿d 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 compan￿5 r4lrne and take advants£e ot the smau Compan￿$, e¥ernptk)ns In preparlnK fv dlrertors, report and from the requlrernent to prepare • str•te8lc report. R•sponslbllths ol dlr•¢tovs As explalned r￿Te fully in the ststement of directo￿. respohsibilities. the d1￿ctorS are responSi￿t fof the preparation of the flnanclal statements and for beini satlsfied that they O¥t a true and fail and for such Internal control as the dlrectors determlne 15 ￿cesSary to enable the w•parntlon of f4nanclal ststèrnents that are Iree from rnatèrlal mlsstatemeni wheiher due to fraud or error. In preparln8 th nn•nclal st•tement¥ the élrectors are rewnslble for assesslry th• ch•rlty's abS11ty to CDritlnue is a 8oln8 concern. dlJclosln& 8$ appllcable. mattets rt￿ted to goin8 tor**rn and u51n8 the iolnc concern b•sls of accouniing un￿sS the dlrKtws eit￿1 Intend to Ilquldate the tharrtable company or to cease operat6on& or no rea115tlc alternat￿e byt to do $0. Audttor's r•sponslbllltlw forih• wdlt of th•lln•ncL41 statsments r oblecti%*s are to obtaln reasonable assurance aboui wP*ther the fin•Acl•l slatements •$ • 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 I￿5 IUKI wlll alw•ys detect marerlal mlssiatement when rt exists. m￿tateMerSt5 can an5e from fraud or error and are con51dered materlal If, Indivldual or In the 8K£reRate, they could reasona￿ be experted to 1nfiue￿e the economr decision5 of u5er5 ts￿￿n on the basis 01 these flnancial sfaiements. Irregukirities. Ineludlng fraud. are Instances of non 120,0001 Net assets 1,507,690 1,271,550 Thefunds ofth• £harity Restricted Income fund5 Ur,restrlcted lund5 general Unrestricted lunds- Oe￿1￿.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 e￿￿tsts 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 Ir￿me ￿[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¥•I￿nts 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 cha￿ly Infomiawon Create (Arts) ' irnited ts a C4aritsb￿ conpany Ilmlteé ￿ 8u•rantee In￿r90rated in En8bp.d and Wale5. ly the event of the campany beiryg wouna up, the 11A￿1 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 2￿5. 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,r*d 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 sta*me￿.$. 1.3 Ch•rli•ble funth Unrestrlcted funds are a¥allable fof use atthe dIsC￿lon olthe dlfectors in lurtherance ol thelr ch•rit)bl¢ oblectlves. Restrkted fund5 can on5y bé used for the p3rtlcylJr purpose wlthln the objects of the chirlty. Restr￿1?￿$ èrlse when specilled by thè donor or when funos a'e appliea for a SPEclfi- restric￿d PL4rpose. In *hè.malority of ca5e5, restrirtad funds are those which have been rece￿ed 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 In￿me Recognition Lrf Trncpme Incorning ￿$0￿..ceS Iror, char￿able actN'.tle5 have teen aDatysed aCCOrriin8 to type of fu'nrl&P¥ fEcefved ?5 Ihe tharlty has one rnaln acimty. which 5$ tne deve1C￿ent and de ¥ery of projects. 24 | Page CREATE (ARTS) LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTE5 TO THE FINANCIAL 5rATEME￿5 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 d￿aUnts arld VATand are reco8n4sed on a receNable basls. Grnrtts. don•tlons and sp(M￿l￿1P Intorne from don3bons and grants 6 rec￿nISed the thirlty Is efttit￿d to the fuThls, T￿lp¢ 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& ￿n￿S the 8rant contsins teirns and conditlons outside of the charity's control whlch mL￿t be met before the tharity 15 entided to the funds. Much of the ftsnding for C￿ate.$ tharitable woth deths from yants. th)nat￿Th$ 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 ar￿n¢ can be measured ￿l￿bly. EMp•ndllure Is allocated to the partlcular actmty W￿re the cost relates dlr•ctty to that actNIty. The tost of overnll dlrectlon ar￿ •drnlnlstratlon of th•rlty is i￿L￿ded wiihln the WPFQrt costs a5 P3rt 01 tr* cost of ¢h•rlt•ble Clfvitks. All resources expended ate lThc1us￿e of Irrttoverable VAT. Stsff eC￿ts 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 setbe￿fit 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 $i￿1e artivity are appOrt￿ne￿ between ihose actiVit￿S a basis consistent whh the use of resources. Central stsff costs are allocated tl* bays of tirne spenL and depretlatlon charys •llixattd on the portTron of the asset's use. Ex￿n&ture on ra15ing funds Indudes all eXpendi￿re IT￿rred ty the th•fity to rni5e fvnds for rts charitsbk purp95•5 nd Include5 Costs of all fundrdtslng aCt￿￿e$, events and Mnns to aCCfMJnting estimates are recognlsed In the pèrlod in whlch the esttma￿ is re￿s￿ **the￿ the revlsh)n affects On￿ that peAod, or In the perlod Df the re¥l￿On 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 don*ions and Wcl Toi•l Unre5triC￿d Restrlrted fvnds fvnds 2024 2024 Totsl fvnds 2025 funds 2025 2024 onations and legacle5 G*ènts 266,999 302,623 266.999 1.039.755 147.901 289,981 147,901 849￿92 737.132 559,911 569.622 737.132 1.306.754 437,882 559,911 997,793 Intiuded In the above are gran:s rect￿ed from T￿le ChartkEred AccoLnt3nts' L',.very Charlry. City Bridge Foknn&èt￿fi, Comle Reilef. Coutts Chariratsle Fo'Jnoatlon. Deb￿h Loeb 8rlce Doncr A¢v15ed Fund at CAF, Garfleld Weston FoLi4daiion, John Lyon's Charity, KU511￿0 Tri•St. The Quliter Fwndatlon. Santsnder Foundation, Saiah Jane Leigh c￿ar￿abSe TTU5t, The LIn￿rY 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 artiv￿e$ 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 EmplO￿e costs Support costs 78,644 37,112 37.920 155,T70 115,756 Expendliurn •)n ¢harItsb￿ Éxpenthrn ExpeTrdlturn 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 In￿mi re￿rreS 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 ImpleTr*ntstlon 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 artivit￿9 trie￿rore readily available for spending. Charfes Lioyd-iones Le8acy Fund- DestKnated lur,0 to 5￿PPort 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 accumula*d Incorre from the Charity's adhltles th•t ère ￿allO￿t for the general purpose5 01 the charlty. ed Ful￿$ Mar8lnallsed chlldren & aduhs-Thry fvnds relates to the chadty's T￿rk 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￿ VOL*II8 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 prIso￿r$. 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 evalUat￿Tr 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 assetsll1iabillti￿I ProvIs￿n5 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.C￿lI 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￿ cwmltrr*nts for fu￿re 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 total*d £15.52012024= £18,925). The key rnana8ernÈnt personnel of Creade ir. tharge o. plarining. diretting and COnt￿lIr,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 manager*ni personr*l 16 oeryorys) durfng the year was £254*￿￿28 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 art￿ltIeS Depreclatlon and impairment ol tan8ityle IINed assets 144,3821 35,7201 13,105 Mgv•ments in worklni a￿￿1. 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