Company Reglstratlon Number: 04566484 Charity Registration Number.. 1105174 CREATIVE FOLKESTONE (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND FINANCIAL STATEMENTS Year ended 31 March 2025 CREATIVE FOLKESTONE Strategic Report For the year ended 31 March 2025 The Trustees, {who are also directors of the Charity for tha wrposes of the Companies Act) pr8S8nl their annual report tog8th8r with the audited financial slat8mants ol Creative Folk8slon6 for lh8 year ended 31 March 2025. The Trustees confirm that the Annual Report and financial stalemen15 of Ihe Charity comply with the current statutory requirements, the requirements of Ihe Charity's governing document, the Charity Act 2011 and the provisions of the Statement of Recommended PraGlice Vanessa Stone Alastair Uplon Mark Walkins (appointed 23 September 20241 Chlef Executlve Alasiair Upton Deputy Chief Exe¢utlve Sebastian Cater Company Secretary Stephen Ansell Auditor RSM UK Audit LLP 25 Farringdon Street London EC4A 4AB Sollcltors Withers LLP 20 Old Bailey, London EC4M 7AN Bankers Natwest Bank Folkestone Branch, Europa House 49 Sarbdgate Road Folkestone Kent CT20 1 RU CREATIVE FOLKESTONE Strategic Report For the year ended 31 March 2025 Investment Brokers Rathbones Invastment Management 8 Finsbury Circus London EC2M 7AZ Website wNw.creativefolkeslone.or Ob5ectlves and activities Eslablished in 2002, Cr8atlV8 Folkestone is an art5 charity dedicated to producing and enabling th8 very best creative activity lo help Iransform Folkestone and the surrounding area of Kent. Working with the people of Folkeslone, our partners and other stakeholders, we aim lo make the town a better place lo live. work, play, study and visit. The Charity's objectives, as set out in the governing documenl. are "The fostering of knowledgé 8nd appreciation of art, music and literature., the relief of poverty by assisling individuals who are in need, in particular by as51Sting artists lo become self-supporling Ihrough their art., the provision of facillties in the interests of so¢ial welfare for the inhabitants of Folkeslone and the surrounding districl- the promotion of regeneration in areas of social and economic deprivation.. Cr8atiV8 Folkeston8 believ8s that 8V8ryone is creative, and that cr8ativity has th8 POW8r to change p60ple and plac6s for the belter. With a passlon for creativity at its heart. the Charity will enable people's creativily lo ftourish, enrichlng the lown and those who liv8 in it, or visit il, and transform Folk8Ston8's reputation. All our Board and staff are commllled to enabling the very best work to be created. We always appoint skllled and ambitious curators and programmers who are empathetlc to art, arlisls. place and communlly. Creatlvlty drlves the goals we Sel ourselves and which contlnue lo guide the organlsatlon.. Goal 1: Creatively engage the people of Folkeslone Goal 2.. Creatively transform the look of Folkestone Goal 3.. Creatively change the economy of Folkeslone Goal 4.. Change the reputalion of Folkestone as a crealive town Goal 5.. Create a sustainable Creative Folkestone A principal focus for the Charity in achieving thes8 goals is the developmenl of the Crealive Quarter, in the historic old town area of Folkestone, through a process of prop8ty acquisilion, refurbishment and letting. The Charity benefits from a collaboration with the Roger De Haan Charitable Trust (RDHCT), which shares many of the Charity's goals. TypiGally, RDHCT funds Ihe acquisition and refurbishment costs of propertie5 and after the ranovation works are complete leases them lo tha Charity on a long tarm basis al a peppercorn rent. Creative Folkeslone then proceeds to let the refurbished property at affordable rates to artists, 8ducation providers and a wide range of creative organisalions. Creativ8 Folkestone has a remarkable record of success having already transformed the most run down parl of Folkestone. Around nln8ly bulldings have been reslored in the Creative Quarler and the area Is populated by artlsts and creative industries. W8 US8 the Quarterhouse, our p8rformance venue that we built in 2008, to stage our annual Folkestone Book Feslival and a full programm8 of music. theatre. dance and comedy. The area has been animated by five inlernalionally acclaimed Folkestone Triennials when we commissioned site specific artworks to be exhibited in the public realm around the town. After oach show we kept many of the exhibits and added Ihem lo Folkestone Artworks which have then been kept on permanent display. As our collection has grown. so has Folkeslone's reputation as a unique destination for those who enjoy contemporary art. In 2021 we took on the slewardship of Prospect Coltage, Derek Jarman's former home in Dungeness. along with a commitment to open its doors to Ihe public through visits and a residency programme. The Charity continues to work with a range of public and private sector organisations on 2 number of strategically important initiatives which are helping us to have a profound regeneralive impact on the Community. CREATIVE FOLKESTONE Strategic Report For the year ended 31 March 2025 The creative transformation of Folkestone is b8ing achieved through a number of core projects developed and managed by Creative Folke5tone.' the Creative Quarter, Quarterhouse. Folkestone Book Feslival. Folkestono Triennial, Folkeslone Artworks and Prospect Cottage: all Ihese initiatives are underpinned by our L6arning and Engagement programme. Public benefit The Charity's Trustees have complied wlth thelr duties under Ihe Chariti8s Act 2011 to have due regard to publlc benefit guidance (P81, PB2 and PB31 published by the Charity Commission. Th8y are aware of the publlc benefit requirement, its implicalions for charities and thair duty to r8POrt how they have carried out the Charity's purposes for the public b8nefit and lake the publlc benefit guidance into account when making declslons. The Charity's particular public benefit activilies are included later in this rgport under Achievements and Performance. Our activities, and pariicularly our Learning and Engagement work and co-produced festivals, are deeply embedding Creative Folkestone in the local community. Folkestone Triennial. and many other activilies, are f￿e of charge to the public. The Charily conlinues lo contribute to the overall social and economic r8g8n8ration of deprived areas In Folkestone through the advancemenl of the arts. cultur&, h8ritag6. learning and the eslablishmenl of a community of over 800 creative individuals and businesses. Structure. governance and management The Charily is a company limited by guarantee with no share capital, and a registered charity. The Charity, memorandum and artlcles of association are the primary governing documenls of Ihe Charity. Creative Folkestone has a supporlive Board of highly skilled and committed Trustees. The Trustees during the year were those sel out on page 1. Trustees are also members of the Charily. Th8 Trusle8s hav8 complied with the dulles described under Ihe Charilies Acl 2011, and with proper regard to lh8 guidance published by the Charity Commission. The Creative Folke5tone Board provides the statutory governance and also governance over artistic vision and quality. The Board is supported by four Sub Committees that overse& Management, Visual Arts, Performing Arts and Learning and Engagement and Creative Quarter Regeneration, and report back their recommendations to the main Board. We actively advertise for new members of sub-committees of the Board and applicants are interviewed by the CEO and another Trustee. They are inviled lo joln the sub commltlees and if appropriate can move on to the maln board. Our induction process Includes Trustees being given a copy of our constitution. audited accounts and copies of trustee meeting minules, togelher with the Charlly Commlssion's guidelines for charity trustees. The new Trustee is also given a detailed tour of Ihe Creative Quarter and an introduction to all the project5 being undertaken by the Charity. Although there is no formal training policy in place, Ihe Trustees are encouraged to participate in training programmes either through their prlncipal employer or through participation in ad hoc tralning courses. CREATIVE FOLKESTONE Strategic Report For the year ended 31 March 2025 Key management personnel and pay pollcy The Charity considers ils key management personnel lo be ils Board of Trustees, the Chief Executive and the Deputy Chief Executive. The remuneralion is normally set annually in accordance with the pay policy, with any changes taking effect from Ihe 1 April each yèar. The Chièf Executive and the Deputy Chief Executive ar8 the only paid key management personnel. The pay policy for the Chief Execulive and the Deputy Ch18f Executlve is the same as for other siaff. This Strategic Report was approved by the Board of Trustees on by: .2.9.19.1 and signed on Ihelr behalf Sir Roger De Ha Trustees CREATIVE FOLKESTONE Report of Trustees For the ear ended 31 March 2025 Achievements and parformance Creative Folkestone overvlew Much of Ihe twelve-monlh period be￿een April 2024 and March 2025 was dadicatod to preparing for our flagship event: Ihe sixlh edilion of the Creative Folkeslone Triennial, scheduled lo take place from 19 July to 19 October 2025. This is the largest exhibition in the UK featuring newly commissioned works. The majority of the 18 commissioned artworks are positioned outside. in prominènt locations across Ihe lown. such as the Harbour Arm and The Stade, which exemplifies how Creative Folkestone has positioned itself as the nallon's leadlng force in creative placemaking. The Folkestone Triannial highlights how creativity plays a c8ntral rol8 in tha long-tarm transformation of the town- improvlng the publlc realm, stimulating the local economy, enhanclng ils natlonal and Inlernatlonal reputation as a leadlng desllnation in the UK for contamporary art. and, ultimalely, making the town a better place to live, work, study, play, and visit for ALL. Al the end of March 2025. preparations were nearing completion, with arbNorks beginning to appear at their designaled sites throughout Folkestone's public realm. The Cr6ative Quarter has been going from strength to strength.. by the end of Ihe financial year, 51 achieved 100°/o occupancy for residential spaces. In total, we welcomed 34 new lenanls, with 8 occupanls moving within the Quarter, demonslraling how we are adapting to changed business requirements. We continued to bring together business owners, artists and start-ups based in the Creative Quarter and beyond to network and share their skills and knowledge. The quarterly Connecling Crealives evenls not only offers guest speakers the opportunity to showcase their work, bul also served as a launchpad for new activities, such as the communily festival Open Art 2024. Our compr8h8nsive L@arnlng and Engagement Programme continued to be In high d8mand, particularly amongst young Folkestone residents. offering a growing range of diverse workshops for schools, famllles, young people, adults, and individuals with speclal educational needs and disabilities. The programme delivered 322 sessions, along with end-of-lerm exhibitions and other aclivili8s, offering around 8,200 opportunllies for partlcipation. The Quarterhous8 continued lo d81iver a bold and ambitious engagement programm8, r8flecting and celebrating Folk8Stone's div8rsity. A total of 136 events took to th8 Stage over Eh8 12-month period, attracting approximately 15,000 people. We were pleased to reintroduce family. Ihealre and dance programming, after cutting back in this area of the programme in 2023124 in order to prioritise the more popular lale-nighl music events. We brought back a selection of fun and interactive family shows, specifically lailored for early years audiences and their accompanying adults. From 14-24 November 2024 our annual festival of books. ideas. writing and literalure returned to Quarlerhous8.11 featured 40 events involving 89 authors, joumalists and speakers, both local and national. A total of 3,932 tickets were sold, an increase of 45Yo on 2023. and many events, such as David Nicholls and Staven Moffat, w@re sold out. The 2024 festival was the first to be curated by local resident, Sophie Haydock, an award-winnlng author and lournallst. As a full-tim8 member of staff, sh8 brought deep-investment in the local community, and repositioned the fastival as a vibrant hub for writers, readers. lenders and story18118rs. Her new curatorial concept paireij hyper-local engagement with national excellence. resulting in a dynamic programrne Ihal spanned topics.from Comedy and curiosity to motherhood and mayhem, life and loss to rogues and royalty, and everything in between.. The guided tours al Prospect Collage remained highly popular, with most lime slots fully booked. In 2024125. 1,520 visitors took the opportunily to explore Derek Jarman's life and work in-depth, and to reflect on the profound significance of this unique place. We continued with our Prospect Collage Residencies and Research and Development Programme, giving a total of 29 writers. film-makers and other creatives the opportunity to spend time al the cotlage and use it as a space to think, reflect and be inspired. CREATIVE FOLKESTONE Report of Trustees For the ear ended 31 March 2025 As a result of a successful funding application to Arts Council England's Place Partnership Fund, planning has begun for the launch of a bold and ambitious new projecl called Folkestone is a Library. This lown- wide programme will turn streets, schools. shops and public spaces inlo hol-spol places for reading, writing and storytelling. While the town's public library remains closed. Folkestone is 8 Library will inspire an imaginative, inclusive response that reimagines what a library could and can be. Rooted In 25 years of cultural Iransformation, this three-year initiative builds on Creative Folkestone's commitment to long-term crealivity and Collaboration. For the past 12 months. Creative Folkestone has continued to secure nalional and international media coverage, conlribuling lo a growing profile for th8 organisation and the town. Media interest has focused on our cullural programming, the wider regeneration narrative. and Folkestone's reputation as a leading destination for visitors and creative5 allke with Folkeslone appearing in The Sunday Times and Time Out's 'Best places to live in the UK, The Board of Trustees would like to express thelr appreciation for the conlinued generosity of its benefactors, in terms of both committed funding and in-kind assistance with the work of the charity, including Arts Council England (ACE), Kent County Council (KCC}, Folkestone and Hythe Dislricl Council (FHDCI, Canterbury Christ Church University, Saga, Eurotunnel, Linbury Trust, Lord Glendonbrook Trust. Rockefeller, Oak Foundation, Culture Ireland, Hollaway, The Kingdom ofth8 N8therlands, Mondriaan Fund and Art Fund. The Board of Trustees would like to convey special thanks to the Truste8s of RDHCT for their continued Support for the work of Creatlve Folkestone. The Board of Trustges would also like lo expr8SS thelr appreciallon for Ihe dedlcatlon and hard work of both the Charity's staff and its commllle8 members who are not Trustees. Their continued flexibility and willingness to adapt lo changing condilions, due lo Ihe energy crisis and other inflationary increases, have made il possible lo continue delivering an ambitious and Challenging arts and performance piogramme. Folkestone Trlennlal and Folkeslone Artworks In autumn 2024, the sixth Folkeston8 Triennial was announced, alongside its curatorial theme.. How Lies the Land? Curator Sorcha Carey invited 18 artists from more than 15 countries to create bold new publlc artwork5 for the town, reimagining Folkestone's landscape and reflecling on how we liv8 within it, acros5 lime, memory and change. The roule slarts at Quarlerhouse and takes visitors to the harbour and to Easl Cliff, homo to many of Folkestone's most important archaeological and geological sites. Ar￿OrkS are located in promlnent and unusual spaces. including on an abandoned sectlon of Ihe railway track along Tram Road, which had not been previously used. Other new siles include a WW1 gun shelter on East Cllff, the Interlor of Martello 3, Folkeslone Central Railway Station, and upon th8 Dolphins at the Harbour Arrn. These siles carry powerful stories of migration, @nvironmental change and resilience. which reflect local experiences and contribu18 to global conversations. A full lisl of the artists involved was revealed al the end ol March 2025. It includes installations by Céline Condorelli, Monster Chetwynd, Oineo Sesh6e Bopape, Ci)oking Sections. Dorothy Cross, John Gerrard, J Maizlish Mole. Rubiane Maia, Emeka Ogboh, Prabhakar Pachpute, Katie Paterson. Laure Prouvost, Emilija Skarnulylè, Rae-yen Song ZJXA. Jennifer Tee. Sara Trillo. Hanna Tuulikki and Sarah Wood. Throughout the year, the team continued to collaborate with several prospective partner organisations - such as Whilecliffs Countryside Project, Napler Friends, Eco Park. Canterbury Archaeological Twst, the RSPB, MIND, and Kent Downs, to explore their participation In the Triennlal Public Programme. In April 2025. a freelance public programmer was recruited lo help drive the final stages of programm8 development, and will remain in place throughout Ihe Triennial period, unlil October 2025. As part of our involvement in the Levelling-up projecl Folkeslone - A Brighter Future, two Triennial artists continued to develop new public works. The first, Monster Chetwynd. is currently creating a fantastical children's playground that will form the centrepiece of Bouverie Square. Designed as both an artWOTk and a playspace, It fealures salamanijers, portals and olher surreal elements that together form what Chetwynd describes as a "magical kingdom" The salamander's power of regeneration is a cenlral motif, reflecting Folkeslone's own ongoing story of renewal. CREATIVE FOLKESTONE Report of Trustees For the ear ended 31 March 2025 The se¢ond, Céline Condorelli. designed foursGulptures that celebrate Folkestone's meaningful connection lo tha sea. Part flag, part mather. part weathervane. Condorelli's work lays a trail belween the harbour and town centre. Designed to move in response to the wind. like the sea itself, the experience of these markers will be delerminod by the weather. As parl of this collaboration, w8 also connected the projecvs main contractor. A8com. wlth Th8 Baacon Plus and The Edge School of Creative Business, and arranged a visit for 20 young people from Folkestone to Aecom's London headquarters. The Folkestone Artworks &xhibltion remains a vibrant atlractlon. drawing interest from visitors, students and the local community. We have conlinued lo offer a range of tours. guided walks and talks, with the Intention of enriching viewers. experiences of the artworks. The collection is maintained to a consistently high standard, with regular upkeep, repairs and essential renovations. In 2024125, key highligh15 included Ihe complex task of renumbering each of Ihe 19,240 stones in Mark Wallinger's iconic piece Folk Stones (2008) on The Leas and a full repaint of Casa AnaGaon8 (20171, Sol Calero's vibrant beachside pavilion at Ihe harbour. In preparation for the 2025 Triennial. we have been updating existing signage. renewing leases for new a￿OrkS, in partnership with the Council. and carefully removlng pieces whose display agreements have ended. As with any evolving outdoor collection. some works are added while others make way. The &xhibitlon now features 87 ariworks by 52 artists, each contributing to Folk8Stone's changing cr8alive landscape. Creatlve Quarter Among new tenants who moved into the Crealrve Quarter during the last financial ygar, many are remarkably successful creatives raising the bar for artistic excellency. Emelie Mahdavian is an Emmy, Peabody, and Sundance Award-winnlng filmmaker, who recently relocated to Folke51one from America. H8r work 8xplor8S the grandeur of our planet and the beauty of human connection. Fabla Goff, a Ilnoprint and fabric designer specialising in noral palterns. opened her first shop and studio on the Old High Street in 2024. offering items such as tea-towels. Gustom-made wall-hangings and upholstery. In February 2025, she was awarded Young Enlrepreneur of Ihe Year 2025 and named finalist for Business of the Year by The Kenl Foundation. Rachel Leigh, a former nurse who now supplies Folkeston8 with sw881 Ir8ats, moved from h8r Harbour Arm stall inlo a shop on the Old High Street. She is already tooking lo expand her businesses as demand Is oulstripping supply. In June 2024, Beton Collective. a curatorial and artistic duo, opened their eclectic art centre, kollective, al the Gall8ry space wllhin Ihe Red Fin buildlng. hosting a programme of exciting, diverse and thought- provoking events. The Beton team has become an intrlnsic part of the creative Gommunily. working in partnership with several event organlsers, offerlng space for performances, Installatlons and other aclivilies, The demand for retail and r85identlal propertles has remained high, and the number ofunlls listed as vacant was down by 220/0 from 2023124 levels, indicating that businesses are doing well and Ihat people are happy lo stay. In a survey as part of the applicalion form. many indicaled that they heard of available properties by word of moulh. suggesting Ihal current tenants are promoting the Creative Quarter as a desirable location lo live and work. Short term popup tenancies have also been in high demand, allhough they were down by 400A on the previous year, as we had less space available lo offer. Older buildings in need of renovation continue lo offer valuable opportunities to strengthen and adapt our property portfolio in response lo market demand. A recenl example is on Tonline Street, where underused offices were converted into small, affordable studios, attracting strong interest from artists looking lo test ideas before moving into larger workshop spaces. Our regular monthly meetings are increasingly well-received by Creative Quarter tenants and other Folkestone creatlves, consislenlly drawing an average attendance of So people. These gatherings provide networking opportunities and platforms for testing new ideas. CREATIVE FOLKESTONE Report of Trustees For the ear ended 31 March 2025 The monthly Under the Moon Art IAarkel in digital glassworks is another example of a lenant-led adaption of a Craative Folkestone initialiv8. to help build a healthy creativa community. Every month. makers, designers and artists offer a diverse range ol cr8alivity and pr(xlucts to the publiG to promote their buslnesses and Commercial practice. The lower alrium within digital glassworks was fre8ly avallable to our tenants throughout the year, and they have welcomed a space to exhibit their artwork. offer workshops and hold networking events. SD Projects. multidiscipllnary stud50 eslablished by the artist Simon Davenport. held a communal Iftar together wllh the Folkeslone Islamic Cullural Cenlre. Peoplè of all backgrounds came together to share a meal that marked the end of Ramadan. The annual fr88 Chrislmas Carol Concert was held in D8c8mber 2024 in partnership with St Mary & St Eanswylhe's Church. This evening has become a traditional Creative Quarter celebration of the festive sea50n, featuring a programme of live music, readings and festive performances. In 2024125. seven local arlists allracted an audience of 200 peopl8. Open Art 2Q24 The annual Open Quarter, the feslival celebrating the hidden spaces in the Creative Quarter and the creatives behind them, was replaced by Open Art 2024, Folkestone's first artlst-led festival showcasing the town's extraordinary breadth of creativity. The festival was organised by the Folkestone Artists, Collective. a committee of local artists - most of whom are bas8d in the Cr8aliv8 Quarter. With supporl from th6 Festivals Fund, th8y Secured funding lo brlng In two professional curators. This partnership helped elevate the festlval. enabling the commltte8 to altracl additional flnancial and in-kind backing, and to collaborate with local stakeholders and venues. Creative Folkestone was proud to support the proj8¢t as a key partner. The Inaugural event ran from 13-22 September 2024, and Involved 145 local artists, the majorlty from Folkestone, but also including some from neighbouring towns such as A5hford and Dover. Over 10 days, 78 artist studios and shops across the Cfealiv8 Quarter and beyond opened Iheir doors. Folkestone came alive with creativity, offering visitors a range of outd¢xr activities. workshops and artislic performances. An estimated 10,000 people attended. The feedback was positive, indicating that the festival attracted a spectrum of audiences. ranging from those traditionally interesled in arl and culture, lo those who think "that art is not for them" Learnlng and Engagement Our programme of family workshops remained popular with young Folkeslone residents. Nine sessions were attended by a tolal of 566 children and their familles. The workshops in Block 67 are designed to encourage exploration, free play and creativity. Local artists from various disciplines worked with families to experiment with techniques and mal8rials, includlng projectlons, sound, cyanotypes, crown making, Gollage, sewing. dance. storytelling. instrument making and singing. Int8r8st in our school workshops continues to grow, with 30 prirnary and secondary schools now taking part. Over the course of the year. 977 children attended one of 34 livety and engaging sessions. During the workshops, participanis explored lopics including.. identity and how to create a personal logo through prinling; portraiture through movement.. how lo visually represent themselves,. and made shadow puppets to create stories that were brought to life in a show. Our adult programme included two terms of evening class8s, each offering a seven-week course. With 10 places per term, the classes were designed for beginners or anyone looking to develop their drawing skills and explore printmaking techniques such as monoprinting. lino prinling, drypoint etching and screen pr6ntlng. Together, the terms ran across a soven-month period. Each course culminated with a group exhibition. offering participanls the opportunity lo celebrate their work wilh fri8nds and family. These courses are typically ov8rsubscribed. and many make repeat booking, indicating their popularity, CREATIVE FOLKESTONE Report of Trustees For the ear ended 31 March 2025 Our popular Neon After School Club continued offèring children and young people aged 5-16 the chance to explore a wide rang8 of visual and performing arts. Across th8 y8ar. three seasonal courses in summ&r, autumn and spring each delivered 12 wèekly workshops. All werè fully booked, wilh more Ihan 240 participanls taking part. The courses were led by in-house practitioners who grouped participanls by age and d81ivered a lotal of 144 sessions. Their teaching was enriched by guest art15ts speclalising in spoken word, visual arts, puppetry, costume. special effecls and digital arts, giving young people the chance lo explora new skills, build confidence and spark their imagination. Each course culminated in a final performance, showcasing their original works. During the autumn term, the groups crealed and produced an installation that was shown during the Folkestone Living Advent Calendar festival, which ran from 1-24 December 2024, opening a different door each evening lo reveal a new unique live performance. The Neon performance was r8C8ived by an audience of nearly 500 p8opIe. The Neon Summer School took place during the school holidays. offering five days of creativity and fun for three age groups. In lolal. 45 participants attended. who explored theatre. movement, visual arts, music and interactive digilal technology. Each course produced a short performancelinstallation. shared al the end of Ihe week. Th8re w8r8 two free places p8r year group, available for each Neon activity. for children claiming pupil premium, with proof from the school. on a first Come first served basls. The Young Animators Club, run by practitioner Lydla Hibb8rl, continued to offer workshops for children and young peopl8 with social 8ngagement difficullies and anxiely conditions. A series of five courses were fully booked, altractlng 182 participants, aged 8-25. During the autumn term. the Young Animators collaboratlV81y produc8d a short narrative film, which they wrote. dlrecled, designed, and animat8d thems8lv8s. They were supported throughout th8 process by musician and writer Randolph Malthews, composer Tom Adams. and artist Hayley Restall. In the spring term, the Young Animators built 3D sets, based on their v8rsion of Folkeslone Harbour and experimented with projection mapping animations onto the sets to bring the inslallalion to life. In preparation for summer term 2025, Lydia collaborated with the Folkestone Leas Lift. Her plan is for the young parlicipanls lo produce animations to display in Ihe new Leas Lift visitor centre, which accompanies the recently refurbished lunicular railway, connecting Folkeslone's seafront and promenade. The Young Animators Club expanded to create a studlo space every Wednesday during term-time for young creatives ag8d 16-25, giving them opportunity to work on th8ir own projects with th8 SUPPOrt of professional praclitionars. Thls space Is sel up with young neurodivergent people in mind, and those wlth anxiety conditions and needing support with social and communication skills. An exhibition in autumn showcased thelr work and earlier this year they launched themselves as YAP Studios, with the plan lo tak8 commisslons from local businesses in 2026. Quarterhouse Quarlerhouse Is our unique and fully accessible p8rforming arts venue that showcases a wide-ranging programme including music, comedy. dance, film. festivals, and Gommunity events. We delivered 132 evenls and welcomed approximately 15.000 individuals from all backgrounds and protected characterlstic groups. With an inclusive and varied lineup, Quarterhouse provides something for everyone in the community, at affordable prices. Famlly The reinstated early years programme was well received. A total of 30 shows and gatherings took to lh8 stage, allended by 1,254 young children and adulls. This included Mrs H & the Sing-along Band. a band of musicians whose shows We￿ packed with catchy tunes and playful mischief,: the London-based Out of the Bag Theatre company. bringing stories lo the stage in Tales for Tots and Toddlers- and immersive sessions Iltled Teeny Tiny Creatives, delivered by local community arts organisation On Solid Ground. which is dedicated to foslerlng well-being Ihrough Creativity and movament. CREATIVE FOLKESTONE Report of Trustees For the ear ended 31 March 2025 Comedy Our growing programme of comedy shows was again ono of the m05t popular perfomiance categories. The 17 shows that took place attracted a total audience of 3.630. In Jun8, we launch8d th8 Quarterhouse Comedy Club. which was Ihe start of a series of new regular com8dy nights, presenting some of the besl touring comedies around. The club nights featured well-known names, as well as offering new lalenl an opportunity to showcase their potential. In January 2025, the Comedy Club r8ceived a b¢)OSt as the series continued In collaboratlon with Chumps Comedy from Margate. In recent years. they hav8 gained a repulation as one of Ihe UK'S most exciting Stand-up comedy nights, combining a mix of new acts with hous8hold names. Mu51c In the pa51 year, Quarterhouse hosted 12 live musical performances, attracting a lotal audience of 2,093 people. Five of the gigs were organised through a well-eslablished partnership wilh the BrwJhton-based independent live-music promotion company, Melting Vinyl. This included American song-writing duo The Handsome Family., Welsh singer-songwriter Gruff Rhys, known for his work with the Super Furry Anlmals; and five musicians ofthe English folk scene who collaboratively performed AwakeArise, a Chrislmas show celebrating winter traditlons. We hosted 12 Saturday late-nighl dance and music events, in collaboration with local promoters and international DJS, attended by 2.659 people. These included the popular local LGBTQ+ Disco Collective, Joe Goddard & Damp Disco, as well as the legendary DJ Norman Jay MBE, who brought his Good Tim8S party to Folkestone. Th8 Folkeslone Electronic Dance Muslc Weekender took over Ihe town to celebrate summer solstlce on 21 and 22 June 2024, wlth multlple venues hosting the biggest names in Underground Electronlc Mus1C. Quarlerhouse provided the stage for the kick-off event with Havin It Crew, and for Saturday's headllner Matthew Bushwacka B. a percussionist in the London School Symphony Orcheslra. Also in July, we hosted the sold-oul Folkestone Pride's official after party, to celebrate our local LGBTQ+ community, with a line-up of performers and special guests from drag artists to DJS. We continued with Quarterhouse Lates. offering DJS. producers, artists and music collectives from across the region a regular plalform to invite revellers on Friday nighl to stari the weekend with hip-hop, electronic, drum and bass and house music. The focus was not only on young upcoming artists but also on experlenced and well-connected freelance programmers, labels, promoters, or arlists lo broaden the weekend offer to Quarterhouse. The Performing Arts Team supported 35 evenls thal attracted 3,188 people. Llvè Screenlng We showed seven National Theatre, 11 Royal Ballet and Opera live screenings and a live p8rformanc8 of the musical Kiss me, Kate, filmed at the Barblcan in London. Leading up to Christmas, we also hosted a special screening of the iconic film It s a Wonderful Life. The 20 live screenings attracted a total audience of 1,935 people. There was a 250/0 boost in audience numbers in 2024125 comparad to 2023124. largely due to an increase in the number of events. The average ticket sales remained approximately the same, wilh several sold-out screenings. This included a repeat of Prima FaGia, the popular one-woman theatre play starring the renowned Jodie Cromer, the classic festive ballet The Nutcracker. and Oscar Wilde's most celebralad comedy The Importance of Being Eamesl. Communlty Engagement Wo continued to make Quarterhouse and Block 67 availablè for artisls, development and community engagement Ihrough working in partnership. This included the dance companie5 Confidance and Confico (weekly in term time), and Ihe Folkestone Performing Arts Company, an artist-led international thealre ensemble (on an ad hoc basis}- Smoking Apples, a Folkestone-based, award-winning puppetry and visual theatre company used our space for a week of research and development. 10- CREATIVE FOLKESTONE Report of Trustees For the ear ended 31 March 2025 We worked in partnerships with festival organisers, including the comedy and theatre festival Folkestone Live, Folk8stone Pride, Ihe Compass Music Festival, and SALT 4 EARTH 2024- Festival of Landscape, Seascape & The Environment, who utilised Quarterhouse as a venue for performances, pan81 discussions, and othar activities. Festlvals In January 2024, Creallve Folkestone reopenad appllcations for the Festlvals Fund, offering grants of up to £5.000 to support community-led festivals in the Craalive Quarter. Artists, arts groups and organisations with bold ideas were encouraged to apply. The appllcatlon proc8S5 for the grant schème, funded by the Roger De Haan Charitable Trust, was managed, as in previous years, by Creative Folkestone. Applicants had the opportunity to submit their projects lo one of Ihree annual deadlines in March, April and July, giving them time and opportunity to seek matching funding. if necessary, wilh larger organisalion such as Arts Council England or other Trusts and Foundations. Across the three grant rounds, the Festival Fund received 22 applications, th8 highest number so far, of which 18 were rewarded, allocating a lolal of £50,000. The projects look place between April 2024 and March 2025, and our Performance Team provided marketing and technical support lo the funded Iniliatives. Among successful projecls were well-eslablished festivals, such as Music in May, Ihe SaGconi Music Chamber Festival. SALT + EARfH.' Festival of Landscape. S8ascap& & Environmant, Folkaslone Documentary Festival 2024 and the Folkestone Living Advent Calendar 2024, as well as new initlalive Open Art 2024, about whlch we report abov8. Folkestone Book Festlval The 2024 festival was a success, featuring great literary names such as Ali Smith, Alan Hollinghurst, Tracy Chevalier and David Nicholls. Thè programme was designed to appeal to a broad demographlc of people. wlth 300/0 of the audience attending for the first time. Authors such a5 Roberto Sendoya Escobar, Steven Moffat and Jay Rayner attracted a noticeably younger and more diverse demographic. Seven of the 40 events (17.5°/0) touched on environmental issues. exceeding our goal by 2.50/0. An audience survey relurned very encouraging resulls, with 94°A rating the overall experience as very goodlgood. The Folkestone Aulhors Showcase, a highlight of the book festival. celebrated Folk8slone's vibrant literary talent. Fifteen l¢¢al aulhors offered quickfire three-minute presentations, showcasing an impressive range of genres. The event drew an audience of more than 50 people, including the Mayor of Folkestone. Thi5 unlque cglebration of storytelling underscored Folkeston8'S thriving literary scene and ils role in nurturing local talent. The Book Festlval schools programme offered a Series of events design8d lo spark the imagination of young readérs from across Folkeslone and beyond, aimed at Inspiring the authors and creative thinkers of the future. Four well-known authors and wrllers presented events for children and young people from 14 primary schools from Folk8slone and the surrounding area. with 1,548 young people (and their teachers) allending for free. The Book Festival was promoted through newslellers lo more than 12.500 conlacls. Large posters were displayed on train stallons in the Soulheasl. Smaller posters were distributed to culturavartllileralure institutions and caféslreslauranlslbars in Folkestone and surrounding areas, and flyers were delivered locally to Folkestone residents. The webpages dedicated lo the Book Festival 2024 were launched, as in previous years, wlh Ihe firsl announ¢emenl of the dates. on 18 July 2024 and Ihe lotal number of visils until Éhe end of the festival was 236.402. Compared to 2023124. 2024125 Iraffic increased by 3500 CREATIVE FOLKESTONE Report of Trustees For the ear ended 31 March 2025 Through our advertising campaigns on Facebook and Instagram. we reached a total of 189.570 people and adverts taken out on websites run by the KM Media Group were distributed to a total of 25,000 people. KMFM Radio run regular adverts for a week which reached approximately 187,000 listeners. Printed adverts were placed in magazines such as Deal Dispatch (6,000), Ramsgate Recorder (60001. Folkestone Foghorn16,000}, CommunityAd Magazine (Folkestone> (22,000). Inslde Kent (25,000) and the Big Issue (100,000>. Secured feature5 of the accompanying Media Campaign included: a feature about the son of drug lord Pablo Escobar. announcing Folkestone Book Festlval. In the Cene Magazine an inl8rview with curator Sophie Haydock on the curation of Folkestone Book Festival on BBC Radlo Kent an interview with Sophie Haydock on the highlights of tha festival in the Folkestone Foghorn an interview with curator Sophie Haydock aired on Academy FM Prospect Cottage Participants of the guided lours to Ihe collage conlinued lo greatly value th& opportunity lo explore Derek Jarman's home and legacy and the visitor survey showed that the feedback remained positive and encouraging. I really enjoyed the experience and just wanled lo thank Claire & Keith for guiding us around the cottage. Claire had a lovety friendly manner 8nd was bnllianlly informalive. Many thanks... In 2024, 10 additional artists, who wer8 grant8d a two-week residency through th8 Prospect Cottage Residency Programme, completed thelr stay at the cottage. Among them were fllm wrlt8rs, directors, producers, garden deslgners and curators seekSng inspiration for their own creative work by lime spent amongst Jarman's art and wrltlng and Ihe garden that was so meanlngful to him. The programme inlended to be fully inclusive, ensuring participallon from Individuals with protected characlerislics, as well as those lacing social and economlc dlsadvanlages. A survey revealed that the selected artists represented a range of diversity. in lemis of race and @Ihnicily, gender, sex. age, and physical and mental disabilities, In addllion to the residencies, 19 succ8ssful applicants to Ihe Research and Development Programme have spent one or two days al the coltage betwe8n September 2023 and March 2025. Open lo academics, artists, writers, researchers, gardeners. environmentalists and other crealives, the programme offered an opportunity to explore Jarman's life, his artworks, writings, and garden. Most participants focussed on a specific topic they wished to sludy in greater depth. Our long-term gardener, Jonny Bruce. dediGaled five weekends to working in the cotlage gardon. During one of those weekends, he invited a small group of students and volunteers to provide them wilh an opportunily lo explore the garden and ils dislinctive poslmodern design in greater depth. He also relnslalled the beehive. Wild bees have been encouraged to use it, with an artificial 'Queen' scent. Dlverslly Al Creative Folkestone, diversity and equality are at the heart of everything we do. We are commltted lo ensuring that everyone In our community, regardless of their racial background, social circumstances, or abilities, has the opportunlty to Ilve a full cullural and ¢r8ative life. We belleve that by fully embracing diversity, our work becomes stronger, richer, and more meaningful. Our goal is to reflect Ihe diversity of 8ritain through our creallve programming, performances, and exhibitions. We are equally dedicated lo ensuring that our organisation, across our team, governance, staff, volunteers, tenants, and audiences, represents the diversity of our local community. We are continually working to better undersland and addre55 the barriers that prevent people from engaging with our work. Through targeted action, outreach and partnerships, we aim lo deepen relationships within the communily. We are foGused on removing barriers and expanding access, opportunity, participation, and inclusion in all areas of our work. 12- CREATIVE FOLKESTONE Report of Trustees For the ear ended 31 March 2025 Envlronment Creative Folkeslone continued lo assess ils environmental performance, wilh a strong focus on minimising waste and reducing energy and water usage. When direct reductions were not possible, we were looking into sustainable alternatives. These aims and objectives are outlined in detail in the Environmental Action Plan and Policy, updated in 2023. The plan is guided by the Theatre Green Book. which establishes sustainability benchmarks for theatre buildings, productions, and day-to4ay operalions. The Environmental Action Plan was regularly reviewed throughout the year by the Environmental Working Group, comprising of members of all departments. We continued to work in partnership with the charity Julie's Bicycle. who collected environmental data of our performance Space, Quarlerhouse. The data was entered into a free online carbon calculator to record. measure and understand the environmental impact, Creative Folkstone's overall environmental impact. measured in carbon dioxide equivalenl (C02e), remained Ihe same as in 2024125 and 2023124, at 64 tonnes C02e. Of this, 26 lonnes related to energy use, which was down by 25Yo compared lo the previous year (34 tonnes). The reduction was partly due lo the generation of renewable energy from solar panels operating year-round. saving approximately 7 tonnes. The previous year, they'd only been installed for part ol the year. Water and sewage were up to 489kg C02e, compared to 273kg the previous year. Waste remained the same al 21 tonnes. Audience travel was up to 17 tonnes C02e. compared to 10 tonnes the previous year. Audlence travel appears to have increased Ihls y8ar, because, for the first time, wa included participants from our Learning and Engag8ment Programme, which took place at Quarterhouse. such as Neon aclivities and the schools, programme. whlch is parl of Folkestone Book Festival. Press and Medla National and internatlonal media coverage in 2024125 reflected a clear shlfl In how Folkeslone is perceived, aligning with our broader strategic aim lo promote the town as a place to live, work, play, study and visit. The announcement of the upcoming Folkeslone Triennial 2025 generated renewed interest in the town's cultural infrastructure and long-lerm vision. This year saw particularly impaclful features that elevated both Creative Folkestone and the lown in national rankings and lifestyle media: Time Out named Folkestone the UK'S 88sl PI8C8 lo Visit in 2025, citing its cr8aliv8 community, galleries and seaside k)cation Read article Harper's Bazaar UK profiled the town as Kent s most underestimated seaside destination, with specific reference to the Creative Quarter and Prospecl Cotlage Read article Th8 Financial Tlmes highlighted Folkestone's cultural r8surgenc6, describing it as "a beacon of contemporary art and seaside revitalisation" Read article The Times and The Guardian covered the announcement of the Folkestone Triennial 2025, noting the curatorial vision and new commissions set lo animate public space across the lown. Prospect Cottage also continued lo allracl attention, with feature pieces in design, film and herilage publications. Residencies and partnerships, including collaboralions wilh Ihe British Film Institute, offered strong media hooks, reinforcing our role as stewards of this iconic sile. Future Plans The 2024125 period has demonstrated the continued value of Creative Folkestone's work in shaping national narratives about place-based regeneration. cultural produclion and communily development. 11 also shows the long-lerm return on investment in press relations. content development and strategic messaging. 13- CREATIVE FOLKESTONE Report of Trustees For the ear ended 31 March 2025 We enter the Triennial year with momentum and visibility at a natÉonal level. Our challenge and opportunity in 2025 will be to capitalise on this position lo deepen engagement and broaden reach. The Creative Folkaslone Tri8nnial will start on 19 July 2025 and will continue to run until 19 October 2025. It features 18 artists from 16 countries. Th8 charity is pleased with this international focus, especially as most of the works are new commissions. For the first time, the Quarterhouse auditorium wlll host an artwork, whlch wll nalurally enhance its role as a visitor centre. This has led to a break in programming our usual music, dance and other events. There will be a busy programme from October onwards. includlng a very strong book festival line up. Plans are well underway for the 2025 edition of the Folkestone Book Festival, which is set to take place over 14 days in November, with more than 50 events currently in development. We plan to launch the programme ahead of the Triennial, in order to capilalise on increased visitor numbers and awareness across the town, This year, we hope to atlracl major literary namas and cultural figures, and to build on the festival's reputation for bold, Ihoughlful programming. We've set fresh targets to increase ticket sales, grow communily participation, and deepen engagement with schools, local author5, and underrepresented audiencgs. The thr60-year project Folkestone is a Library will launch in October with an ambilious Guinness World Record allempt, for the most books exchanged in an hour, held on the beach to place the campaign firmly on the local and national radar. Thi5 bold opening will kick off a programm8 of book, lit8racy and18nding aclivilie5 delivered by Creative Folkeslone and its partners. transforming streets, schools, shops and publlc spaces Into a living, breathing library. It will be one strand of an especially rich year of community and leamlng activity durlng the Trlennlal. The Crealive Quarter will invest in a new database to support our care for lenants, malntenance of buildings, and smoother administration for leases, bolh new and renewals. Thi5 will improve efficiency. 50 lime can be invested in bringing vibrancy to our cluster of creative tenanls in the area around Payers Park that we are calling the Creative Campus. The Creative Campus Ss one of several fo￿ard-lOOkIng Initiatives shaping Creative Folkeslone's next Business Plan for 2026-2031. This ambitious roadmap. currently in development, builds on the charity's belief in the transformative power of cTeativily. It will define the n&xt phase of leadership as Creative Folkeslone moves from its pioneering first generalion of regeneration into a bold new chapter. Through both direct delivery and empowering olhers, the organisation remains firmly committed to making Folkestone a belter place to live, work, study, play and visit for everyone. Flnanclal revlew The financial position of the Charity IS 8s set oul in the financial statements lor the year. During the flnancial year ended 31 March 2025, the Charity reported a deficit of £266,706 (2024: surplus of £422,497). As a response to the challenges of high levels of inflalion and the high rises in the cost of. insurance. utilities and building maintenance the Charity Teduced its costs, wherever possible, while continuing to provide support lo ils staff and tenants. The Charity held long leasehold propgrties with a balance sheet value al 31 March 2025 of £15.1 million. Thase properties are owned by thè Roger D8 Haan Charitable Trust and leased to Creative Folkeslone at a peppercorn renl for 125 year5. They provide a rental income for the Charity which is used lo satisfy its charitable objectives. These propertles will only be rented for creative and educational purposes. and their capital value may never be realised by the Charity. The high level of restricted funds shown in the balance sheet a5 at 31 March 2025 relates principally to propertie5 in the Creative Quarter. The organisation has agreed with the Arts Council lo deliver a set of objectives and focuses its performance to deliver them. In addition, it has sel a number of high level financial KPI'S and it ensures, through ils r8POrting and governanco slructures, that its perfomiance is scrutinised regularly. 14- CREATIVE FOLKESTONE Report of Trustees For the ear ended 31 March 2025 Reserves policy Since 2016, the charity has built a cash reseNe in addition to its property assets. As a result of a risk-based assessment on what is needed, the Crealive Folke5tone Board of Trustees has sel a target range of be￿een £250,000 and £400,000 for its free reserves. This figure was raised temporarily to £600,000 in response to the difficult economic environment. The reserves are set out in note 20 of the financial statements. An update of the reserves policy will be conducted On￿ a more normal economic environment is reestablished. Designated funds Each Folkestone Triennial incurs cost$ beyond the charity's usual annual expenditure. In the years be￿een preparatSon for the Triennials the Board designates reserves for future exhibitions. The cost of a Triennial is circa £2,300,000. The Trustees have designated a total of £521.000 to Triennial 2025. A further £351.000 is designated to the 2028 Triennial. Investment policy Durlng the year the charity looked to maximise its income whilst taking a low risk on its investment. It kept minimal funds for working capital in its Natwest interest account and places fvnds with a Rathbones Bank Time Deposit. Principal risks and uncertainties The Truste88 have a duty to identify and review Ihe risks to which the Charity is exposed and to ensure appropriate ¢ontrol$ are in place to provide reasonable assurance against fraud and error. Regular formal Trustee and management meetings were held to review progre55 towards achieving the Charity's objectives. The Senior Management Team regularly addressed the schedule of risks identified by the Trustees and put In place procedures and controls lo ensure those risks were adequately managed. The principal risks were a) economi¢ downtum b) loss of key Board members and staff and cl failure to hil earned income and fundraising targets. The mitigating actions were identified in Creative Folkeston8'8 business plan, including settsng aside appropriate reserves, good property management, succession planning and invesling in lundraising. Equal opportunltles and dlverslty pollcy The Trustees recognised Ihal ensuring equal opportunities for all is an integral part of good practice within the workplace and Creative Folkeslone remained committed to its comprehensive Equallty and Diversity Policy. The Charity ensured that the buildings It oc¢upied Complied with the statutory regulations in place in relation lo disabled arKess. Auditor Creative Folkestone's current contract for audit services from RSM comes to an end with the complelion of the 2024125 annual report and accounts. The organisab'on will undertake a competitive tender exercise during late 2025 in order to appoint new auditors. Strategic report The matters whith the Trustees deem to be of strategic importance have been included within the Report of Trustees on pages 1 to 4 in accordance with sedion 414c(11 > of the Companles A¢t 2006. This proved by the Board of Trustees on and signed on their If, by.. Sir Roger De Haan- Chair of Trustees 15- CREATIVE FOLKESTONE STATEMENT OF TRUSTEES. RESPONSIBILITIES The Trustees (who are also directors of Crealive Folkestone for the purposes of company law> are responsible for preparing the Strategic Report, Report of the Trustees and the financial slalemenls in accordance with applicable law and United Kingdom Accounts'ng Standards {United Kingdom Generally Accep18d Accounling Praclice). Company law requires Ihe Trustees to prepare financial statements for each financlal year whlch glve a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure. of the charitable company for that period. In preparing those financial stalemenls. Ihe Trustees are required lo: select suitable accounting policigs and then apply them consistenlly: observe the methods and principles in the Chariti8s SORP; mak8 judgements and accounting estimates that are r8asonable and prudent", stale whether appllcable UK Accounting Standards have been followed, subjecl to any materlal departures disclosed and explained in the financial slatemenls and: prepare the financial statements on Ihe going concern basis unless it is inappropriate lo presume that the charitable company will continue in busine5S. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy al any lime the financial position of the charitable company and 8nable them to ensure that the financial statements comply with th6 CompaniesAct2006. They are also responsible for safeguarding the assets of the charilable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the COTporale and financial Information included on the charitable company's webslte. Legislation in the United Kingdom governing the preparallon and dissemination of financlal statements may differ from legislation in olher lurisdictions. 16- INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CREATIVE FOLKESTONE Oplnlon on flnanclal statements We have audlled the financial statements of Creative Folkesione (the'charitable company,) for the year ended 31 March 2025 which comprise the Statement of Financial Activilies (including the Income and Expenditur8 Account), the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in Iheir preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Irgland. (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the slate of the charitable company's affairs as al 31 March 2025 and of ils incoming resources and application of resourc8s, including ils incom8 and expenditur8, for the year then ended: have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Companies Act 21)06. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)> and applicable law. Our responsibilities under those slandards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. Wa ar8 independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the rinancial statements in th8 UK. including the FRC'S Elhical Standard and we have fulfilled our other ethical r8sponslbllllies In accordance wilh these requirements. We belleve that the audit evldence we have obtsined Is sufficlenl and appropriate to provide a basis for our opinlon. Concluslons relatlng to golng concern In audltlng the flnancSal statements. we have concluded that the trustees. use of th8 going concern basis of accounting Sn the preparation of the financial statem8nls is appropriate. Based on the work we have perform8d, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubl on the charitable company's abilily to continue as a going concern for a period of al least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees wilh respect to going concern are described in the relevant sections of this report. other Informatlon The other Informatlon comprises the information included in the Annual Report oth8r than the financial statemenls and our auditor's report thereon. The trustees are r6sponsibl8 for th8 other information contained within the Annual Report. Our opinion on the financial statements doe5 not cover the other information and, except lo the extenl otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so. consider whether the other information is materially inconsistent wilh the financial slalements or our knowledge obtained in lh8 course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misslatemenls, we are required to detormine whether Ihis gives rise lo a material misstalement in the financial stalemenls themselves. If, based on the work we have performed, we conclude Ihat there is a material misstatemenl of this other information, we are required lo report that fact. We have nothing to report in this regard. 17- INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CREATIVE FOLKESTONE Opinlons on other matters prescribed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the Report of Truslees, which includes the Directors. Report and the strategic Report prepared for the purposes of company law, for the financial yaar for which th& financial slatemenls are prepared ts consistent with the financial statements. and the Directors. Report and the Stralegic Report included wilhin the Report of Trustees have been prepared in accordance with applicable legal requirements. Mattèrs on whlch we are requlred to report by 8xcèptlon In the light of the knowledge and understanding of the charitable company and Its envlronment obtain8d In the course of the audit, we have not identified material misstatamenls in the Directors, Report or the Strategic Report included within the Report of Trustees. We have nothing lo report in respecl of the following matlers where Ihe Companies Act 2006 requires us to report lo you if, in our opinion.. adequate accountlng records have nol been kept, or returns adequale for our audit have not been received from branches not visited by us., or the financial statements are not in agreement with the accounting records and returns; or certain disclosures of trustees, remuneratlon speclfled by law are not mad8', or we have not received all the information and explanations we require for our audit. R•sponslbllltl•s of trustees As explained more fully in the Statement of TrLSStees' responslbilllles sel out on page 16, the Iruslees (who are also the directors of the charllable company for the purposes of company law> are responsible for the preparation of the flnancial statements and for being satisfied that thay give a true and fair vlew, and for such internal control as the Iru5tees determine is necessary lo enable the preparalion of financlal slalemenls that are free from material misstatement, whether due to fraud or error. In preparing the financlal slatements, the trustees are responsible for assessing the charitable company's ability lo continue as a going concern, disclosing, as applicable, mallers related to going concern and using the going concern basis of accounting unless the Iruslees either intend lo liquidate the chari18ble company or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for Ihe audlt of the flnancial statements Our objectives are lo obtain reasonable assurance about whether the financial statemenls as a whole are free from material misslatemenl, whether due lo fraud or error. and to issue an auéilor's report that includes our opinion. Reasonable assurance ￿ a high level of assurance. but is not a guarantaa that an audlt conducted in accordance wilh ISA5 {UK} wlll always detect a malerlal mlsstalement when11 exlsts. Misstatements can arise from fraud or error and are considered materlal if, individually or in Ihe aggregate, they could reasonably be expecled lo influence the economic decisions of users taken on the basis of these financial statemenls. Tho extent to whlch the audlt was consldered capable of detectlng Irregularitles, Includlng fraud Irregularities are instances of non-compliance with laws and regulations. The objectives of our audit are lo obtain sufficient appropriate audit evidence regarding compliance with laws and regulalions Ihal have a direct effecl on Ihe delemiination of material amounts and disclosures in the financial slaternenls. to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect the financial statements, and to respond appropriately to identified or suspected nonacompllance with laws and regulations idenllfied during the audlt. 18- INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CREATIVE FOLKESTONE In relation to fraud, the objectives of our audit are to idenlify and assess the risk of material misstatement of the financial slatemenls due to fraud. lo obtain sufficient appropriate audit evidenGe regarding th8 assessed risks of material misstalemenl due to fraud through designing and implementlng appropriate responses and lo respond appropriately lo fraud or suspected fraud identified during Ihe audit. However, it 15 the primary responsibility of management. with the oversight of those charggd with governanc8, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud. In identifying and assessing rlsks of material misstatement in rèspect of irregularities, including fraud, the audit engagement team- obtained an understanding of ihe nalure of the sector, including the legal and regulatory framework thal the charilable company operates in and how the charitable company is complying with the legal and regulatory fTamework', inquired of management, and those charged with governance, about their own id8ntification and assessment of the risks of irregularities, including any known actual, suspected or all&ged instances of fraud; dlscussed matters about non-compliance wilh laws and regulalions and how fraud might occur including assessment of how and where the financial statements may be susceptible to fraud. As a result of these procedures we consider the most significant laws and regulations that have a direct irnpa¢l on the financial statements are FRS 102, Charities SORP {FRS 102), Companies Act 2006, Charities Act 2011 and the charitable company's governing document. W8 performed audil procedures to detect non-compliances which may have a maleiial impact on the financial statemenls which included reviewing the financial slatemenls including the Report of Trustees and remaining alert lo new or unusual Iran5aclions which may nol be in accordance with the governing documents. The most significant laws and regulations thal have an indlrect impact on the financial Statements ar8 Ihose in relation lo h8alth and safely and tenancy laws. We performed audit procedures to inquire of managemanl and those charged with governance whetherthe charitable Gompany Is in compllance with these law and regulallons. The audit angagement team identified the risk of management ov8rrlde of controls and r8v6nue recognition as the areas where the financial statements were most susceptible to material misstalemenl due to fraud. Audit procedures performed included but were not limited lo lesling manual journal entries and other adjustments, evaluating the business ralionale in relalion to significant, unusual transactions and transactions enlered into outside Ihe normal course of business and challenging judgements and estimates applied through the financial statements and lesling of revenue cul off around Ihe year end. A further description of our responsibilities for the audit of the financial 5talement5 is loGated on Ihe Financial Reporting Council's website al hlt '.IAvww.frc.or .uklauditorsres onsibilities, This description forms part of our auditor's report. Use of our report This report is made solely to tha charilable company's members. as a body, In accordance wlth Chapter 3 of Parl 16 of the Companies Act 2006. Our audit work has been undertaken so that We might state to the charitable Company's members those malters we are required lo stale to them In an auditor's report and for no other purpose. To the fullest exlenl permitted by law, we do nol accept or assume responsibility to anyone other than the charilable company and the charitable company's members as a body, for our audit work, for this report. or for Ihe opinions we have formed. LLe Nicholas Sladden {Senior Statutory Auditor) For and on behalf of RSM UK AUDIT LLP Statutory Auditor, Chartered Accountants 25 Farringdon Street London, EC4A 4AB 22 December 2025 19- CREATIVE FOLKESTONE Statement of Flnancial Activities (Including Income and Expenditure Account) For the year ended 31 March 2025 2025 Total Funds 2024 Total Funds Notes Unrestricted Reslrlcted Funds Funds Incomo from: Donations and legacies 4.910 87,200 92,110 54.962 Charitable aclivltles 2,577.275 130.000 2,707,275 2.779.350 other tradlng activities 188.428 188.428 199.567 Inv8slm8nls 25.613 25,613 44.538 Total income 2,796,226 217,200 3,013.426 3,078.417 Expenditure on.. Raising funds 4,684 4.684 164 Charitable aclivilies 2,801,770 445,389 3,247,159 2,584,404 Other trading activities 10 77,519 77.519 77.666 Total expenditure 2,883,973 445,389 3,329,362 2.662.234 Not (expendlture)Ilncome {87,747) {228,189> (315,936> 416,183 Transfers between funds Net gains on investments 16 49,230 49,230 6,314 Net movement In funds (38,517) (228,189) (266,7061 422,497 Total funds at 1 Aprll 1,827,870 19,490,538 21,318,408 20,895,911 Total funds at 31 March 1.789.353 19,262,349 21,051,702 21,318,408 -20- CREATIVE FOLKESTONE Balance Sheet At 31 March 2025 Com istration Number.. 04566484 Notes 2025 2024 Flxed assets Tanglble assets Investmenl in subsidiary 14 15 19,500.930 19,612,193 19,500,931 19,612.194 Current assets Investments Debtors Cash at bank and in hand 16 17 1,689.593 247.100 114,289 1,623,809 177.009 363.511 2,050,982 2,164,329 Credltors; amounts falling due within one year 18 (500,211) (458,115) Net current asset8 1.550,771 1,706,214 Net assets 21.051,702 21,318,408 Funds Unrestricted funds Re8tri¢ted fvnds 21 21 1,789,353 19.262,349 1,827,870 19,490,538 Total funds 21,051,702 21,318,408 The financial statements on pages 20 to 35 were approved by the board and aulhorised for issue on and signed on its behalf by.. Sir Roger M De Haan- Chair of Trustees -21 CREATIVE FOLKESTONE Statement of Cash Flows For the year ended 31 March 2025 Notes 2025 2024 Cash Irom operating activities: Net cash (used in)Igènerat8d from operating aclivities Interest recelved 23 (258,2811 25.613 581,047 44.538 Cash generated from operatlons: (232,668> 625,585 Cash flows from invesllng actlvltles: Purchase of tangible fixed assets Net purchase of other investments 142.970) (1.598,774} {18,758) Cash used in investlng activilies: (18.758) (1,641,744) Net decrease In cash and cash equivalents (251,426> (1,016,159> Cash and cash equivalents 1 April 382,232 1,398,391 Cash and cash equivalents 31 March 130,806 382,232 Relatlng lo: Cash at bank and in hand Current asset investments 114.289 16.517 130,806 363,511 18,721 382,232 -22- CREATIVE FOLKESTONE Notes to the Financial Statements For the year ended 31 March 2025 1 Accounting pollcles Legal status The Charity is a company limited by guarantee. The members of the Company are the Trustees. In the event of Ihe Charity being wound up. the liability in respect of the guarantee is limited lo £1 per member of the Charily. The Charity's objectives and aims are disclosed in the Report of Trustees. Accountlng conventlon These financial statements have been prepared in accordance with FRS 102 "The Financial Reportlng Standard applicable in the UK and Republic of Ireland", the requir8m8nls of the Companies Act 2006 and under the hlstorical cosl convention, modlfied to include certain fixed assets al fair value. The financial statements have also been prepared in accordance with the accounting policies set out in more detail below, lo comply wilh the Charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Tha Financial Reporting Standard applicable in the UK and Republic of Ireland (the FRS 102 Charili8s SORP 2019), The financial statements are prepared in Sterling, which is the funclional currency of the charitable company. Monetary amounls in Ihese financial statem8nts are rounded to the nearest £1, The Charlty constitutes a public benefit entity as defined by FRS 102. Golng concern The Truste8s confirm that al the lime of approving the financial statements, there is a reasonable expectation that the Charily has adequate resources to continu8 in operational existence for al least 12 months from signing these financial statements. In arriving al this conclusion, the Truslees have taken account of current and anlicipaled financial performance in the current economic conditions, and the Charity's reservès position. The Trustees have reviewed in detail Ihe Charily's position and the appropriate basis on which to prepare the financial statements. The stress testing of the Charity's financial position has satisfied the Trustees that it has adequate reserves and mitigatlon strategies available to deal with Issues as they unfold. The cash position is strong, the Charity has no debt. the rental incom8 has so far held up well. Funding from the Arts Council has been secured for the next year. The Trustees recognlse that 202512026 will be another challenging year and have structured the budget accordingly while assessing what further actions can be taken if needs be and they have concluded that il remains appropriate to prepare the financial statements of the Charity on the going concern basis. Consolidatlon The financial sta18ments present information about Ihe Charity as an individual undertaking and not about its group. The Charity has taken advantage of section 402 of the Companies Act 2006 not to prepare consolidated financial statements as the directors consider that the Charity's subsidiary may be gxcluded from consolidation a5 It 15 immaterial for Ihg purpose of a true and lair view. Income Income is recognised when the Charity has enti118ment to the funds, any performance conditions attached to the Items{s) of income have been met, it is probable thal the Income will be received, and tha amount can be measured reliably. Donaled facilities and gifts in kind are included al the value to the Charity where Ihis can be quantified, and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers. -23- CREATIVE FOLKESTONE Notes to the Financial Statements {continued) For the year ended 31 March 2025 1 Accounting pollcles (continued) Income from gDvernmenl and other grants. whether 'capilal' grants relaling to tangible fixed assets or 'revenue' grants, is recognised when the Charity has enlitlement to the funds, any performance condilions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is nol deferred. Expenditure Expenditure is accounted for on an accruals basis and has been Classified under headings that aggregate all cost related to the category. Where costs cannot be directly altrlbuted to particular headings, th8y have been allocat8d to adivlttes on a basis consistent with the use of rasourc&s. Governance costs Include those costs incurred in th8 governance of the Charity and are primarlly associated wllh constitutional and stalutory requirements. Support costs represent flnance. admlnistration and other Indlr8Ct central costs. The support costs have been allocated In prowrtion to the direct costs incurred In respect of each actlvity. Fund accountlng General funds ar8 unrestricted funds which are available for use at the discretlon of the Trustees Sn furtherancè of the general objectives of the Charity and which have not been designated for other purpose5. Designated funds compris8 unrestricled funds that have been set aside by the Truslees for particular purposes. The aim and use ofeach designated fund is setout in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrlctions imposed by donors or which have been raised by the Charity for pariicular purposes. The cost of raising and administering such funds is charged against the specific fund. The aim and use of @ach restricted fund is set out In the notes to the financial statements. Taxatlon Creative Folkestone Is a registered charlly and as such ils income and gains falling within Sections 471 to 489 of th8 Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 are exempt from corporalion tax to the extent Ihal they are applied lo ils charllabla objectiv8s. Tanglble flxed assets Tangible fixed assets are stated al cost less depreciation and impalrmenl losses. D8preclallon is provided al the following annual rates in order to write off each asset over its estimated useful life: Freehold property Long leasehold and leasehold improvemenis Plant arid machinery Computer equipment Fixtures and fillings 150 years straight line 250 years straight line 15 _ 330A on cost Straight line 33°k on cost straight line 15% on cosl slraighl line A full year of deprecialion is charged In the year of purchase and no depracialion Is charged in the year of disposal. Al each reporting end date, the Truslees Teview the carrylng amounts of its freehold and leasehold assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exisls. the recoverable amounl of the asset is estimated in order to detem)ine Ihe extent of the impairrnent loss {if any). -24- CREATIVE FOLKESTONE Notes to the Financial Statements (continued) For the year ended 31 March 2025 1 A¢countlng poliGies (continued Investrnents Listed investments are slated al market value in the balance sheet with net gains and losses on revaluation and disposal being laken to the Statement of Financial Activities. Cash and cash equivalenls Cash and cash equivalents include cash in hand, deposits held al call with bank5, wilh original maturities of three months or less, and bank ovardrafts. Flnanclal Instrumenls The charitable company applies the provisions of Section 11 'Basic Flnancial Instrumenls, of FRS 102 to all of its financial instruments. Financial Inslruments are re¢ognised when the charilable company becomes party to tha contractual provisions of the inslrumenl. Financial assets and financial liabilities are recognised when the charitable company becomes a party lo the contractual provisions of the instrument and are offset only when Ihe charitable company currently has a legally enforceable right lo set off the recognised amounts and intends either lo settle on a not basis, or lo realise the asset and seltle the liability simultaneously. Basic financlal assets. including trade and other receivables (including accrued income) which ar8 receivable within one year and which do not constitute a financing iransaction ar8 initially measured at transaction prlce and subsequently measured al amortlsed cost. being the transacllon prlce less amount5 settled and any impairment losses. Basic financial liabilllies, including trade and other payable5 are initially r8cognis8d al transaction price unless the arrangement conslilutes a financing transaction. where the debt Instrument is measur8d al the present value of Ihe fulure paymenls discounted al a market rate of inleresl. Debt instruments are subsequently carried al amortised cost, using the effective interest rat8 method. Penslon costs and other post-retirement beneflls The charitable company operates a defined contribution pension sch8me. Contributions payable to the charltable company's pension scheme are charged lo Ihe Stalement of Financial Activities In the perlod lo whlch they relate. 2 Accountlng estlmates and areas of ludgement In application of tho Charity's accounting policies, the Trustees are required to make judgemenls, estimates and assumptions about the carrying amounl of assets and liabilities thal are not readily apparent from other sources. The estimales and associated assumptions are based on historical experience and other factors Ihal are ¢onsidered to be relevant. Actual results may differ from these eslimatas. The 8Stimates and underlying assumptions are r8Vi8wed on an ongoing basis. Revisions to accounting estimate5 are recognised in the period in which Ihe 8s1imat& is revis8d where the revlslon affects only that period, or in the period of Ihe revislon and future periods wher8 th8 r8vision affects both current and future periods. The Trustees considers there to be no significant judgements or accounting estimates in the year. -25- CREATIVE FOLKESTONE Notes to the Financial Statements (continued) For the year ended 31 March 2025 Donations and legacies 2025 2024 Restricted Roger De Haan Charitable Trusl: Folkestone Festivals Fund 87,200 50.000 Total rastrlcted 87.200 50,000 Unrostrlcled Other 4,910 4,962 Total unrestrlcted 4,910 4,962 Tolal donations and legacies 92,110 54,962 4 Charltable actlvllles Other sources Rental Income Grants Income Total Creative Quarter Folkeslone Triennial Folkestone Artworks Prospect Cottage auarterhouse Arts Programme Festivals and evenls Learning & Engagem8nt Development 1.703,989 1,703,989 273.386 105,723 103,032 192,634 31,449 273,386 105,723 103,032 124,997 17,637 50,000 31.449 16.792 35,577 16,792 280,270 244,693 2025 Total actlvltie8 1,721,626 294,693 690,956 2,707,275 2024 Total actlvlties 1.564,181 337 011 878 158 2 779 350 Of the £2,707,275 income received in the period to 31 March 2025. £130,000 was allributable to reslricled funds and £2,577.275 was attributable to unrestricted funds, Of the £2,779,350 income received in the period to 31 March 2024. £291.651 was altributable to restricted funds and £2,487,699 was attributable to unrestricled funds. 5 Other trading actlvltles Unrestricted 2Q25 2024 Bar income Parking income Film and other sundry income 122,488 37,652 28,288 135.468 42,407 21.692 188,428 199,567 -26- CREATIVE FOLKESTONE Notes to the Financial Statements (continued) For the year ended 31 March 2025 6 Investmenls Unrestrlctèd 2025 2024 Deposit account interest Income from investments 4,374 21,239 26,880 17,658 25,613 44,538 7 Charltable actlvltles Dlre¢t costs Grants & donations payable Support costs Total Creative Quarter Arts programme festivals and events Folkestone Triennial Folkeslone Ar￿orkS Prospect Cottage Quarlerhouse Laarning & Engag8ment Development 1.179,276 85,450 275,392 21,285 1,454.668 193.915 476,484 132,485 110.980 739,871 50,250 88,506 87,200 381.534 106.084 88,865 551,700 40,236 88,506 94.950 26.401 22.115 188,171 10,014 2025 Total actlvltles 2,521,651 87,200 638,308 3.247,159 2024 Total actlvltles 1.903,035 103,400 577,969 2,584,404 Of the £3,247,159 charitable activities expenditure in the period to 31 March 2025, £445,389 was altribulab18 to restricted funds and £2,801,770 was attributable lo unrestricted funds. Of the £2.584,404 charitable activities expenditu￿ in the period to 31 March 2024, £318,366 was attributable lo reslricled funds and £2.266,038 was attributable to unrestricled funds. 8 Grants and donations payable 2025 2024 Arts programme festivals and events Folkestone Arlworks 87,200 50,000 53.400 87,200 103,400 The grants and donations payable to the Arts programme festivals and events of £87,200 (2024.. £50.000) are allributabl8 to restricted reserves. The £53,4QO within grants and donations payable above relates to the donation of the Heritage assets to the Folkestone Town Councll. -27- CREATIVE FOLKESTONE Notes to the Financial Statements (continued) For the year ended 31 March 2025 Support costs Support costs repr8sent finance, administration, and other indirect Central costs. The supporl ¢osts have been allocated in proportion to Ihe direct costs incurred in respecl of each activity excluding depreciation and gifts in kind. 10 Other tradlng actlvities Unrestrlcted 2025 2024 Bar expenditure 77,519 77,666 2025 2024 Auditor's remuneration Audit sarvices - stalutory audit of the Charity Other services.. Auditor's non-audil services 28,000 26.000 6,950 6,650 34,950 32,650 12 Net Incomo 2025 2024 This is stated after charging.. Depreciation 111.263 111,263 13 Staff costs and remuneratlon of key management personnèl 2025 2024 Wages and salarles Social security costs Pension costs 874,085 78,065 76,934 793.287 68,186 70,168 1,029,084 931,641 The average monthly number of employees during Ihe year was as follows.. 2025 no. 2024 no. Creative Quarter Arts programme festivals and events Developmenl Marketing Learning and engagement Management and adminislration Quarterhouse Tri8nnial Visitor Experience Prospect Cottage 26 25 28- CREATIVE FOLKESTONE Notes to the Financial Statements (continued) For the year ended 31 March 2025 13 staff costs and remuneration of kèy management personnel {continued} The number of employees whose emoluments for the year fell within the following bands was-. £90,001-£100,000 £100,001 £110,000 All employees earning more than £60,000 in the current and previous year participated in the pension scheTne. Contributions for the year totalled £14.364 (2024: £13,538). The Chief Executive Officer, Mr A Uplon, was also a member of the Board of Trusleos during the year and received remuneration and benefits for his services in that office, through an 8mployment contracl with the Charlly, of £102,553 (2024.. £95.449) and pension conlrlbutions for the period of £14.364 (2024., £13.538}. Mr A Uplon was also reimbursed expenses in his role as Chi8f Executive Offic8r totalling £5,413 {2024.. £3,815) which relate to travel, subsistence and telephon8 costs. The Deputy Chief Executive Officer, from 21 November 2023 was Mr S Cater. Remuneration and benefits fof his services In that office, through an employment contract with the Charity, of £54,249 {2024.' £18,733) and pension contributions for the period of £4,80712024.' £260). Tha Deputy Chief Executive Officer. lo 31 October 2023 was Mrs F Kingsman. R8muneration and benefits for her services in Ihal office. through an employment contract wilh the Charity, of £nil12024'. £32,602) and pension contributions for the period of £nil12024'. £3,260). The Charlty conslders ils Board of Truslees, including the Chief Executive and Deputy Chief Executive Officer, as their key management personnel. No other members of the key management personnel received remuneration during the current peri(￿ or previous year. -29- ooc V ZLL CREATIVE FOLKESTONE Notes to the Financlal Statements (continued) For the year ended 31 March 2025 15 Investment in subsidiarles Shares In group undertakings Market value At 1 April 2024 and 31 March 2025 Net book value At 1 April 2024 and 31 March 2025 The Charity's investment at the balance sheet dat8 was h8ld in the followlng company.. Reglstered Class of °A held Office share Dlrectly Indlrectly Nature of buslness The Cr8alive Foundation {Tradingl Limited Quarterhousa. Mill Bay. Folkestone, Kent CT20 18N Ordinary A lOO% Dormant 16 Investments 2025 Movement In flxed a89Ot listed Inveslrnents: Market value At 1 April 2024 N81 addilions at cost Nel gains ON Inv8slments 1,605,088 18,758 49,230 Cash 1.673,076 16,517 Al 31 March 2025 1,689,593 Nol book value At 1 April 2024 1,623,809 Al 31 March 2025 1689,593 The hislorlcal cost of the investments is £1,686,055 (2024- £1,600,000}. 31 CREATIVE FOLKESTONE Notes to the Financial Statements (continued) For the year ended 31 March 2025 17 Debtors: amounts falling due withln on8 year 2025 2024 Trade debtors Other debtors Prepayments and accrued incorno 46,773 51,836 148,491 44,211 48,998 83,800 247.100 177,009 18 Creditors: amounts talllng du• wlthln one year 2025 2024 Trade credltors Amounts owed to group undertakings Social security and other laxes other creditors Accruals Deferred income (note 188) 154,593 99,470 647 21,096 171,967 75,330 89,605 187,694 64,726 92,551 500,211 458,115 18a Deferred Income 2025 2024 Deferred income as at 1 April Income received requiring deferment Release of income during the year 89,605 92,551 (89.6051 55,923 89,605 (55,923) D8ferred income as al 31 March 92,551 89,605 Deferred income of £47,747 (2024: £48,218) represents income rec8iV8d in advance for propety rentals and £44,804 (2024: £41,387) represents income received in advance in relation to grants. 19 Pension The Charlty operates a defined contribution scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost chargo represents contributions payable by the Charity to th8 fund and amounted to £76,934 (2024: £70,168). The total conlribulions outslanding at the year-end were £nil (2024.. £nil). -32- CREATIVE FOLKESTONE Notes to the Financial Statements (continued) For the year ended 31 March 2025 20 Analysis of nel assets between funds- 31 March 2025 Unrestricted funds Restricted funds Total Funds 2025 Tolal fund5 2024 Fixed assets Inveslrnenl in subsidiary Current assets 238.581 19.262.349 19,500,930 19,612,193 2.050,982 {500,211) 2,050,982 1500,211) 2,164,329 (458,115) Current liabilities 1,789.353 19.262,349 21.051,702 21,318.408 Analysis of net assets betW88n funds - 31 March 2024 Unrestricted funds Restrlcted funds Total Funds 2024 Total funds 2023 Fixed assets 247.392 19.364,801 19,612.193 19,733,886 Investment in subsidiary Current assets 2,038,592 {458,115) 125,737 2.164,329 1458,115) 1,602.936 (440,912) Current liabilities 1,827,870 19.490.538 21,318,408 20,895,911 21 Movoment In funds At 1 April 2024 Not movement In funds At 31 March 2025 Unrestrlcted funds General fund Designated funds Freehold property 716,089 900.363 211,418 {8,341) (28,363) (1.813) 707,748 872,000 209,605 1.827.870 (38,517) 1.789.353 Restrlcted funds Triennial Freehold properties Leasehold properties 125,737 4.199,447 15,165.354 (125,7371 138,1391 {64,313) 4,161,308 15,101,041 19,490,538 (228,1891 19,262.349 Tolal funds 21,318.408 266.706 21,051,702 33- CREATIVE FOLKESTONE Notes to the Financlal Statements (continued) For the year ended 31 March 2025 21 Movement In funds {continued) Net movement In funds, included in the above. are as follows- Income Expendlture Galn on Investments Transfer Movemont in funds Unrestrlcted funds General fund Designated funds Freehold property 2,796.226 (2.626,413) (255.747) 1.813 (2.883,973) 49,230 (227,384) 227,384 (8,341) (28,363) 1,813 <38,517) 2.796,226 49.230 R8Strl¢ted funds Triennial Quarterhouse Freehold Properties Leasehold Properties Arts Programma Fesllvals & Evenls Prospect Cottage Residencies 95,000 25,000 (220,737) (25,000) (38,139) (64,313) (87,200) (125,737) (38,139) (64,313) 87.200 10,000 (10,000) 217.200 (445,389). {228,189) Total funds 3,013.426 (3,329,362) 49,230 (266,706> Details on funds are as follows: Trlennlal Money raised to organis8 the Triennial f8stlval. The ownership and operation of th8 Quarterhous8 Performing Arts Cenlre. Represents grants recelved by the Charity lor capital projecls. These are depreciated over the estimated useful economic life of the asset the grant was used to purchase. Represents Ihe transfer of leasehold properties from the Roger De Haan Charitable Trust to the Charity, Festival ticket and fundraised income. Quarterhouse Freehold Property Leasehold Properties Arts Programme Festlvals & Events Prospect Cotlage Residencles Rockefeller Philanthropy Advisors has allocaled a grant of £30.000 to support the residency programme at Prospect College. The grant will be recognised in instalmenls of £10,000 per year over a thr8e-year period. The Trustees have designated a total of £521,000 to Triennial 2025. A further£351,000 is designated to the 2028 Triennial. Designated funds CREATIVE FOLKESTONE Notes to the Financial Statements (continued) For the year ended 31 March 2025 22 Related party disclosures The Roger De Haan Charitable Trust (RDHCT), a tharity of which Sir Roger De Haan is a Trustee, made a payment of £105,723 (2024: £85,800) lo the Folkestone Artworks. Al Ihe year end, the Charity owed £64712024.. £647> lo its subsidiary, The Creative Foundation (Trading) Limiled. Details of trustees, remuneration and benefits can be found in nol8 13. 23 Nel cash flow from operations 2025 2024 Net (d6fi¢it)Isurplus for the y&ar Realised gain on Investments Unrealised lossllgainl on investments Loss on disposal of herilage assets Depreciation Investment income Ilncreas&)Idecreas8 in debtors Increase in creditors {266.706) {52,006) 2,776 422,497 {6.314) 53,400 111,263 (44,5381 27.537 17,202 111,263 {25,613) (70.0911 42,096 N81 cash inflow from operating activit18S (258,281) 581,047 -35-