2023-03-31-accounts - The Clore Leadership Programme

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Company number: 05083008 Charity Number: 1105210

The Clore Leadership Programme

Report and financial statements For the year ended 31 March 2023

The Clore Leadership Programme Contents For the year ended 31 March 2023

Reference and administrative information ...................................................................................... 1 Directors’ annual report ................................................................................................................. 2 Independent auditor’s report ....................................................................................................... 13 Statement of financial activities (incorporating an income and expenditure account) ................... 17 Balance sheet ............................................................................................................................... 18 Statement of cash flows ................................................................................................................ 19 Notes to the financial statements ................................................................................................. 20

The Clore Leadership Programme Reference and administrative information For the year ended 31 March 2023

Company number	5083008
Country of incorporation	United Kingdom
Charity number	1105210
Country of registration	(England & Wales)
Registered office	South Building
and operational	Somerset House
address	Strand
	LONDON WC2R 1LA
Directors	Directors who served during the year and up to the date of this
	report were as follows:
	Maria Balshaw	(Resigned 29thJune 2022)
	Dame Vivien Duffield
	Daisy Hale	(Appointed 11thApril 2022)
	David Harrel
	Catherine Holden	(Appointed 11thApril 2022)
	Roly Keating
	David Kershaw
	Kate McGrath
	Wayne McGregor	(Resigned 19thJuly 2022)
	Anisa Morridadi
	Dhikshana Pering	(Appointed 29thJune 2022)
	Moira Sinclair	Chair
	Sarah Weir
Key management	Hilary Carty	Executive Director
personnel
Bankers	Lloyds Bank
	39 Threadneedle Street
	LONDON
	EC2R 8AU
Auditor	Sayer Vincent LLP
	Chartered Accountants and Statutory Auditor
	Invicta House
	108-114 Golden Lane
	LONDON EC1Y 0TL

The Clore Leadership Programme Report of the Directors For the year ended 31 March 2023

The Directors present their report and the audited financial statements for the year ended 31[st] March 2023.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the Memorandum and Articles of Association, the Directors’ Report as required under company law, and the Statement of Recommended Practice – Accounting and Reporting by Charities: SORP applicable to charities preparing accounts in accordance with FRS 102.

Objectives and activities

The Clore Leadership Programme (Clore Leadership) was established in 2003 as an initiative of the Clore Duffield Foundation. The objects for which the charity has been established are the promotion for the public benefit of the arts (principally but not exclusively in the UK) by the provision of education, training, work experience and other assistance in any form to:

(a) individuals who either work in the arts or who may do so in the future; or
(b) organisations which directly or indirectly promote the arts

with a view to developing a new generation of leaders for arts organisations in order to preserve, secure and enhance the quality of cultural life in the United Kingdom.

Clore Leadership is a dynamic and inclusive resource for leaders and aspiring leaders in the arts, culture and creative sectors. Our aim is to inspire and equip leaders to have a positive impact on society through great leadership of culture. We offer a strong and supportive foundation from which leaders at all stages of their career can develop and strengthen their leadership skills, competencies and performance. We provide leadership development programmes, promote thought leadership and fresh ideas through debate and challenge, and offer access to an incredible network of leaders.

The Board of Directors has referred to the advice contained in the Charity Commission’s general guidance on public benefit when reviewing the programme’s aims and objectives and in planning future activities. In particular, the Board of Directors has considered how planned activities will contribute to the company’s aims and objectives. The strategies employed to achieve the charity’s aims and objectives range from a tailored Fellowship, through intensive residential courses, shortform leadership learning programmes, seminars, webinars, conferences and governance development activities. To offer the broadest spectrum of opinion, we commission and encourage research and provocation pieces from a rich variety of sources, keeping abreast of leadership knowledge and opinion.

We work to ensure that our activities attract the best leadership talent and that our beneficiaries are representative of the richness and diversity of the UK’s cultural sector. Our overarching strategy focuses on developing current and future generations of cultural leaders and promoting thought leadership, helping to position Clore Leadership as an authoritative, global voice on leadership development. Affordability and access are important to the Board and staff, and this is reflected in our proactive approach to widening reach, deepening engagement, pricing, and the

The Clore Leadership Programme Report of the Directors For the year ended 31 March 2023

securing of bursaries to support inclusion. Clore Leadership is widely regarded as a world-class provider of leadership development, a source of expert advice and an inspirational example for other initiatives in the UK and beyond. Quality, breadth and accessibility underline the public benefit of our work.

We evaluate our work through regular feedback from participants, Associates, contributors and partners as well as impact studies on specific areas of work. We are pleased to work in partnership with a broad range of organisations, ensuring our activities meet the contemporary needs and evolving priorities of key sector leaders, agencies and employers.

Clore Leadership has built an extensive alumni network who remain strongly engaged with the programme and its activities, and continue to be an important resource for their organisations, the wider cultural sector and the general public. Clore Fellows and Clore Leaders value sharing their knowledge and skills within the sector and with other emerging leaders, as speakers, mentors, course facilitators and coaches. Articles, blogs and research that they produce are disseminated across the cultural sector, stimulating new thinking and wider engagement with the leadership of arts and culture.

Achievements and performance

Now in this nineteenth year of operation Clore Leadership continues to enhance the quality of cultural life in the UK through a Fellowship programme, intensive residential courses, short-form leadership learning programmes (including online), seminars, webinars, conferences and governance development activities within the cultural and creative sectors.

During the period to 31[st] March 2023, despite the residual impact of the Covid-19 pandemic, Clore Leadership succeeded in delivering a rich programme of work, including 141 days of leadership learning programmes, with over 1,300 people actively engaged in leadership training, connecting with a further 14,000 via our quarterly Newsletter, and over 8,000 accessing the Cultural Leadership resource pages on our website.

The Board and Executive maintained a proactive approach to programming, blending our established programmes with digital innovations devised to meet the demands for contemporary leadership priorities. Themes of personal resilience, new business models, managing staff, wellbeing, financial turbulence, the Climate Emergency and responses to the longstanding inequalities further illuminated by Covid-19, all featured.

Ongoing Impact of Covid-19

Acknowledging the long tail of the impact of Covid-19, the UK cultural sector continued to operate in a context of volatility, uncertainty and complexity. Clore Leadership, as with other cultural and creative institutions, gradually moved towards stability in planning and programming, whilst maintaining the Covid contingency, risk-assessment and operational measures in readiness. We continued to adapt our curriculum to address current issues and challenges, highlighting the Adaptive Leadership skills and perspectives at the heart of resilient thinking. We maintained blended formats of learning, prioritising access and making the most of the rich supply of online

The Clore Leadership Programme Report of the Directors For the year ended 31 March 2023

content available on the Clore Leadership website. We maintained the provision of bursaries for our courses, ensuring that we delivered as much of our programming as possible at affordable levels, and free of charge where possible.

Fellowship programme

The Clore Fellowship Programme offers an extensive period of leadership learning for sector leaders. Its core format includes two residentials which combine leadership training with the opportunity to hear from and debate with a broad spectrum of industry leaders, who inspire and stimulate as exemplars of contemporary leadership practice. This encourages and challenges Fellows to think both creatively and strategically as they refine their tailored leadership programmes, which typically include mentoring; coaching; skills and professional development; work-based learning in different contexts; and national and international learning experiences. Core to each individual’s professional development programmes are learning and networking opportunities with a dynamic peer group of cultural leaders. Fellows also have the opportunity to undertake research, supervised by a Higher Education Institution and supported by the Arts and Humanities Research Council (AHRC).

We were pleased to observe a very strong response to our recruitment campaign and, noted the highly competitive field of candidates. The 2022/23 Fellowship cohort of 29 Fellows mirrors the dynamism of the cultural sector and captures the breadth of experiences and aspirations of sector leaders looking ahead after a period of exceptional challenge. Throughout the recruitment process, applicants highlighted the critical need for understanding, empathy, responsiveness and emotional support for a sector still managing the lasting impact of two very difficult years of challenge. The 2022/23 cohort includes artists, curators, producers, directors and educators, many of whom work across disciplines and co-create with communities and underrepresented groups. Collectively they represent the breadth and depth of the sector covering nine different cultural disciplines, from solo practitioners to those in 200+ people organisations, and are based in eleven regions across the UK. This 18[th] cohort also includes Chevening Scholars, funded by the Foreign and Commonwealth Office from India and Lebanon; as well as a Fellow from Hong Kong, funded by the Home Affairs Bureau of the Government of Hong Kong Special Administrative Region and managed by the Hong Kong Arts Development Council. The participation of international Fellows in the programme helps build international relations and enriches the learning of UK-based cultural leaders through networks, continuing exchange and shared examples of best practice.

Core components of the Fellowship offer a grounding in leadership learning and an innovation for this year is the Climate Assembly, featuring international perspectives to encourage a global appreciation of issues, options and outcomes. We also continue to offer research supported through our collaboration with the AHRC, and access to a dynamic array of cultural organisations for secondments, study visits and observations, maintaining the highly valued learning experiences and outcomes that are special to the Clore Fellowship.

The Clore Leadership Programme Report of the Directors For the year ended 31 March 2023

A Dynamic Programme of Work

Clore Leadership provides core leadership learning targetting mid and early career leaders. Our Courses are well established and highly valued within the sector, with places always in high demand and oversubscribed, and we were delighted to offer one Leadership Pulse and two Emerging Leaders courses across the year. In addition, we delivered a range of targeted programmes including:

Brilliant Routes/Re-Up – a series of online and face-to-face events to support the immediate needs of global majority leaders, as they tackle the challenges of structural inequity and bias;
British Council Pilot Programme – first phase of cultural leadership alumni mapping and analysis of issues and challenges. Going forward a programme will be designed to respond to identified circumstances;
Creative Diversity Network – learning sets and coaching for diverse leaders in the broadcasting sector;
Discover: Your Leadership – an online course providing an introduction to leadership learning;
Inclusive Cultures – a programme led by D/deaf and disabled and neurodivergent leaders to enhance learning around access and inclusion in leadership;
Leading with Compassion – a one-day pilot programme addressing issues of care and support for leaders;
Leading Systemic Change – an extensive pilot programme addressing the change challenges for senior leaders of large-scale organisations;
Rebuilding Heritage – advice, coaching and leadership learning for heritage sector leaders;
Small Group Conversations – learning sets for small groups to provide peer-support.

Tees Valley Programme

We were delighted to commence the action-research phase of a new partnership with Tees Valley Combined Authority Culture Task Force, to create a place-based leadership pilot, as part of a 3- year partnership. The work in Tees Valley will be developed through co-production and co-design, drawing from existing Clore Leadership methodologies. Our ambition harnesses the positive impacts of our alumni network, to create self-sustaining responses to local needs, by training coaches and facilitators as well as cultural leaders. Combining blended and online training, this deepened focus on a local leadership infrastructure will support capacity building through collaborations that strengthen engagement with early-career leaders, freelance practitioners and those from underrepresented backgrounds.

This place-based pilot will complement our existing work to train, nurture and support cultural leaders and leadership nationally. In the time ahead, we will proactively use the learning from this pilot to deliver further geographically specific programmes across the country in response to needs as identified through our networks.

The Clore Leadership Programme Report of the Directors For the year ended 31 March 2023

Cultural sector governance development

We continued to convene meetings of the Cultural Governance Alliance (CGA), a light-touch network of agencies, organisations and advocates working strategically to champion and promote best practice in the governance of culture. The CGA has continued to build momentum and engagement across the sector, both through increased membership and through the wealth of information and resources made available on the CGA website.

The Governance Now 2022 conference, jointly delivered with the CGA, took the theme of ‘Championing Communities’, exploring place-making and civic agendas in the cultural sector. Held at the Midlands Arts Centre, Birmingham, with both live and online elements, the 2023 event sold out with over 200 attendees and feedback confirmed its high value to sector trustees and executive-level leaders.

In addition we delivered a ‘Tough Decisions’ webinar to support organisations managing a negative decision from the Arts Council National Portfolio Organisation outcome; and ‘Governance: The Pressures of Wellbeing’ webinar, exploring Trustee-level responses to the wellbeing agenda. Both webinars were well supported.

Communications and advocacy

2022/23 saw the rationalisation and embedding of enhanced digital programmes across the cultural sector as a whole. Within Clore Leadership, we used our digital resources to further embrace new avenues for thought leadership and to maintain engagement with key sector debates. The publication of conference keynotes and enhanced sign-posting to commissioned research supported the curiosity of visitors to the Clore Leadership website, who explored for longer the broader range and volume of resources, discussions and tools made available for independent learning.

We increased subscribers to our mailing list from 14,248 in March 2022 to 15,366 (an increase of 8%) in March 2023. The continued focus on social media has led to increased followers of 14,508 (5%) on Twitter; 4191 (36%) on LinkedIn; 2125 (5%) on Facebook; 291 (16%) on YouTube; and 1877 (37%) on Instagram, since March 2022.

Fundraising and partnerships

Fundraising is led by the Director and Head of Strategic Partnerships and Impact. Clore Leadership does not engage in public fundraising and does not use professional fundraisers or commercial participators. During the year there was no non-compliance of regulations and codes and we received no complaints relating to our fundraising practice.

We maintained our Fundraising Strategy in the year, noting our strategic priorities for fundraising and partnerships as:

Securing medium and long term commitments from key funders;
Strengthening relationships with both established and new partners to optimise the distinct value and potential across our diverse networks;

The Clore Leadership Programme Report of the Directors For the year ended 31 March 2023

Activating sponsorship potential wherever possible, such as against work priorities for governance;
Diversifying funding for all activities and attracting support for cultural activity areas that are currently under-represented on our programmes; and
Strengthening our relationship and engagement with sector agencies and major employers in the cultural field.

The Board monitors progress in achieving its objectives and good progress was made in all strategic priority areas. We were pleased to be in receipt of significant funding of £500,000 from the Arts Council National Activities Fund, underpinning the programme of work from April 2022 to March 2023. Our long term funder and founding organisation, the Clore Duffield Foundation provided £220,000 for the year and we are grateful to the Esmée Fairbairn Foundation for their grant of £88,000.

Structure, governance and management

Clore Leadership has a Board of Directors which is responsible for guiding the organisation’s strategy and ensuring it fulfils its governance and financial obligations.

The Board expressed its warm gratitude to Maria Balshaw CBE and Wayne McGregor CBE who stepped down from the Board after several years of valued service.

The appointment of new members to the Board is led by a Nominations Committee and we were heartened to secure a significant response to the Trustee recruitment campaign. New Trustees, Daisy Hale, Catherine Holden and Dhikshana Pering joined the Board in April and June 2022. Trustees continued to review a range of priority considerations to ensure alignment with the Charity Governance Code and developed these into an Action Plan to chart and monitor progress.

The Board of Directors delegates the operational management of the Programme to the Director, Hilary Carty and the staff team who report to the Director. Salaries and benefits to key staff are reviewed on an annual basis by the Board’s HR and Remuneration Committee and Clore Leadership has an auto-enrolment workplace pensions’ scheme, compliant with current legislation. In setting pay levels, the Committee aims to balance consideration of the charity’s viability and sustainability with the need to attract, retain, motivate and reward appropriately qualified, skilled and experienced staff who will lead, manage, support and deliver the charity’s aims.

Acknowledging shifting practice and expectations post the pandemic shutdown, all team members were supported to work remotely for up to two days per week, should they wish. We continued to review systems and process to secure and embed creative ways to enable effective collaboration and strong systems to ensure efficient programme management. Operational, communication, financial and banking functions were all delivered effectively due to the cloud-based IT system in place.

The company’s policy on safeguarding affirms protection for vulnerable adults. There were no instances of non-compliance with regulation or codes; and no complaints were received.

The Clore Leadership Programme Report of the Directors For the year ended 31 March 2023

The charity’s lease with Somerset House Trust had been renegotiated in autumn 2019 for a new five-year term to December 2024. We are grateful to Somerset House Trust for their strong and affirmative support to Clore Leadership during the national lockdowns.

Financial review

In 2022/23, Clore Leadership had incoming resources of £1,666,536 and expenditure of £1,682,120 resulting in a net deficit of £15,584. This outcome was a result of a planned use of reserves to support an additional payment to staff in recognition of the challenges brought about by the cost of living crisis.

Clore Leadership is grateful to its funders and other supporters for enabling a broad range of activities to be offered. The organisation is funded by public funders, cultural institutions and charitable foundations, including in particular the Clore Duffield Foundation, the organisation’s founder, and Arts Council England, as part of its National Activities Grant awards.

The major funding partners for the 2022 Clore Fellowship Programme were the Clore Duffield Foundation; Arts Council England; Arts Council of Ireland; a-n the Artists’ Information Company; the Arts and Humanities Research Council; Creative Scotland; Dancers’ Career Development; Gatsby Charitable Foundation; The Linbury Trust; National Lottery Heritage Fund; and the National Trust.

International Fellowships were supported by the Association of Commonwealth Universities and the Home Affairs Bureau of the Government of Hong Kong Special Administrative Region through the Hong Kong Arts Development Council.

The Cultural Governance Alliance received funding from Arts Council England.

Clore Leadership is also grateful to the organisations and individuals, drawn from across the cultural sector and beyond, who have supported its work as mentors and coaches, hosts of secondments, academic supervisors, speakers, facilitators and tutors, and in many other ways.

Risk management

On a regular basis, the Board actively reviews the major risks the charity faces, such as

the loss of key strategic partners
unexpected withdrawal of grant or partnership
failure to control costs and remain in budget
overall appeal of the Programme diminishes in a volatile and changing environment
insufficient resources to successfully deliver a new and refreshed portfolio of activities
unplanned external incident or circumstances
damage to reputation
failure to recruit to key roles.

The Clore Leadership Programme Report of the Directors For the year ended 31 March 2023

The Board ensures that it has systems and procedures in place to manage those risks, that it remains alert to changes in the operating environment that might impact on its work. With the advent of Covid-19 the Board instituted an additional layer of scrutiny and support in the form of a Risk and Opportunity Committee, comprising members of the Board and the Senior Leadership Team. The Risk and Opportunity Committee meets three to four times per annum (or more regularly, should the need arise) and actively considers any reforecasting of activities necessary between Board Meetings, so that risks and strategic priorities can be reviewed and actions taken in a timely fashion. Of particular concern were issues such as rising inflation, the escalating costs of living, and other impacts of the war in Ukraine. These have been incorporated into the company’s risk register to ensure timely reviews and adaptations take into account emergent external circumstances as well as the on-going risk factors.

The Board believes that maintaining reserves at an appropriate level, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse circumstances.

Conflicts of Interest

Conflicts of Interest are recorded at each meeting of the Board and the following were noted:

AHRC/Clore Leadership Research: Applications received from Trustee Kate McGrath and Clore Associate, Gaylene Gould. Neither had any engagement or involvement with the selection process and decision-making for grants.
Two Paul Hamlyn Foundation employees registered onto the Brilliant Routes Re-UP! Programme. Clore Leadership Trustee Moira Sinclair is Chief Executive of the Paul Hamlyn Foundation and had no engagement with either the selection processes at the Foundation, or at Clore Leadership.
Dhikshana Pering Trustee from June 2022, was Head of Engagement and Skills at Somerset House Trust until October 2022. She had no engagement with the liaison between the Trust and Clore Leadership as a tenant organisation.
The British Library supported two course bursaries in 2002/23. Trustee Roly Keating is Chief Executive of the British Library and had no part in the Clore Leadership selection process.

There were no other conflicts of interest recorded in the course of the year.

Reserves policy

The Board monitors and re-assesses its reserves policy on a regular basis, including a formal annual review. The Directors believe the charity should hold financial reserves because it is dependent for income on grants and fees, which are inevitably subject to fluctuation. This is particularly so at a time of significant volatility, economic change, challenges to public funding and increasing pressure on voluntary funding. The maintenance of the Fellowships Fund, Courses Fund and Programme Development and Strategic Projects Funds ensures that the organisation has some capacity to be responsive, and to innovate and remain relevant to the needs of the cultural

The Clore Leadership Programme Report of the Directors For the year ended 31 March 2023

sector over the next three to five years, underpinning and enabling the further implementation of strategic priorities.

The charity requires protection against (and the ability to continue to operate despite) any unexpected and damaging events. The general reserves are to cover investment and contingency needs, including provision to cover a minimum of six months’ staff salaries, related costs and essential overheads as well the ability to maintain our commitments to key programmes and stakeholders over that period - approximately £590,000. The Directors are confident that the present level of unrestricted general reserves (£699,475) complies with its policy.

Future plans

With a continuing level of volatility and unpredictability still present within the cultural sector, and society at large, it remains imperative that Clore Leadership stays alert to sector leadership needs and priorities.

Culture can play a vital part in helping people understand and overcome the current sense of uncertainty, and it is crucial that arts organisations, museums, libraries and the wider cultural and heritage sectors are well-led and find creative ways to meet the challenges of these times. Being well-led means nurturing cultural leaders of the highest calibre, who are innovative, resourceful and courageous, to develop new business models, create productive partnerships and respond to the opportunities of digital innovation to stimulate relationships with audiences and collaborators. In this respect, Clore Leadership, with its longevity and reputation for excellence in leadership learning, is well-placed. Covid-19 forced change and has created opportunity – to challenge for creativity and innovation in business operation as well as sector engagement.

We appreciate the critical imperative to maintain and develop partnerships, to ensure that our programming is responsive to the diverse needs of the sector, helping to catalyse and sustain meaningful recovery, sustainability & growth. We will continue to work with funders and organisations who share our vision for a society enriched through diverse and strong leadership as we look to ensure that we remain dedicated to delivering sustainable, dynamic and gamechanging experiential learning for cultural leaders and organisations.

Strategic and scenario planning for 2024/2025 is also underway, with a range of options outlined and reviewed, and regular updates regarding sources of funding for core and optional operations being provided. The Board and Senior Leadership Team continue to review and assess a range of contingency measures to create both adaptive and responsive actions for implementation as key variables are confirmed over time.

The Arts Council has introduced the Transfer Programme in support of the Levelling Up agenda, and as a means of working practically towards rebalancing its National Portfolio to achieve more organisations based outside London. Clore Leadership is funded from this programme and is, consequently, exploring the feasibility of a move outside London. This is an important area of investigation and is being usefully underpinned by research and consultation on optimal operating

The Clore Leadership Programme Report of the Directors For the year ended 31 March 2023

models for the organisation as the starting point for analysis and consideration. The feasibility is expected to conclude with a set of recommendations in Autumn 2023.

The Board has considered the going concern assumption, which is the basis on which the financial statements have been prepared. The Board is satisfied it has reasonable expectation that the charity is a going concern for at least 12 months from the date of approving the report and accounts, and that there are no material uncertainties that impact on this conclusion.

Statement of responsibilities of the Directors

The Directors are responsible for preparing the report of the Directors and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operations.

The Directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the Directors are aware:

there is no relevant audit information of which the charitable company’s auditor is unaware; and
the Directors have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

The Directors are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

The Clore Leadership Programme Report of the Directors For the year ended 31 March 2023

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees at 31 March 2023 was 11 (2022:12). The Directors are members of the charity but this entitles them only to voting rights.

Auditors

Sayer Vincent are re-appointed as the charitable company’s auditors and have expressed their willingness to continue in that capacity.

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

Approved by the Directors on 5[th] October 2023 and signed on their behalf by

Moira Sinclair – Chair

Independent auditor’s report To the members of The Clore Leadership Programme

Opinion

We have audited the financial statements of The Clore Leadership Programme (the ‘charitable company’) for the year ended 31 March 2023 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Give a true and fair view of the state of the charitable company’s affairs as at 31 March 2023 and of its incoming resources and application of resources, including its income and expenditure for the year then ended
Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice
Have been prepared in accordance with the requirements of the Companies Act 2006

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on The Clore Leadership Programme's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Independent auditor’s report To the members of The Clore Leadership Programme

Other Information

The other information comprises the information included in the Report of the Directors, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

The information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
The Report of the Directors has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Adequate accounting records have not been kept, or returns adequate 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 directors’ remuneration specified by law are not made; or
We have not received all the information and explanations we require for our audit; or
The directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the Report of the Directors and from the requirement to prepare a strategic report.

Responsibilities of directors

As explained more fully in the statement of directors’ responsibilities set out in the Report of the Directors, the directors are responsible for the preparation of the financial statements and for

Independent auditor’s report To the members of The Clore Leadership Programme

being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

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

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

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

We enquired of management and the Risk and Opportunity Committee, which included obtaining and reviewing supporting documentation, concerning the charity’s policies and procedures relating to:
Identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance;
Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected, or alleged fraud;
The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations.
We inspected the minutes of meetings of those charged with governance.
We obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on those laws and regulations that had a material effect on the financial statements or that had a fundamental effect on the operations of the charity from our professional and sector experience.

Independent auditor’s report To the members of The Clore Leadership Programme

We communicated applicable laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit.
We reviewed any reports made to regulators.
We reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations.
We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.
In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company's members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Judith Miller (Senior statutory auditor) 8 November 2023

for and on behalf of Sayer Vincent LLP, Statutory Auditor Invicta House, 108-114 Golden Lane, LONDON, EC1Y 0TL

The Clore Leadership Programme

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 March 2023

For theyear ended 31 March 2023
				2023			2022
		Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	Note	£	£	£	£	£	£
Income from:
Donations and Legacies	2	-	220,000	220,000	-	330,000	330,000
Charitable activities
Fellowships	3	-	461,895	461,895	-	282,000	282,000
Programme Development	3	11,600	776,200	787,800	1,150	511,000	512,150
Courses	3	131,158	-	131,158	97,979	24,525	122,504
Board Training Programme	3	18,548	25,000	43,548	11,500	15,500	27,000
Events and projects	3	18,540	-	18,540	44,957	-	44,957
Investments		3,595	-	3,595	1,797	-	1,797
Total income		183,441	1,483,095	1,666,536	157,383	1,163,025	1,320,408
Expenditure on:
Charitable activities
Fellowships	4	41,695	920,654	962,349	8,869	800,831	809,700
Programme Development	4	2,370	202,510	204,880	-	156,578	156,578
Courses	4	107,922	311,580	419,502	122,140	292,035	414,175
Board Training programme	4	19,683	66,366	86,049	11,499	69,066	80,565
Events and projects	4	9,340	-	9,340	12,185	-	12,185
Total expenditure		181,010	1,501,110	1,682,120	154,693	1,318,510	1,473,203
Net income/(expenditure) for the year	5	2,431	(18,015)	(15,584)	2,690	(155,485)	(152,795)
Transfers between funds		-	-	-	3,486	(3,486)	-
Net movement in funds		2,431	(18,015)	(15,584)	6,176	(158,971)	(152,795)
Reconciliation of funds:
Total funds brought forward		915,532	544,959	1,460,491	909,356	703,930	1,613,286
Total funds carried forward		917,963	526,944	1,444,907	915,532	544,959	1,460,491

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 16

The Clore Leadership Programme

Company no. 5083008

Balance sheet

As at 31 March 2023

As at 31 March 2023	As at 31 March 2023
Note £ Fixed assets: 11 Current assets: 12 111,868 779,000 939,150 1,830,018 Liabilities: 13 (427,027) 15 16 218,488 699,475 Restricted income funds Unrestricted income funds: Designated funds The funds of the charity: Total net assets General funds Debtors Creditors: amounts falling due within one year Net current assets Cash at bank and in hand Short term deposits Intangible fixed assets Total unrestricted funds Total charity funds		2023 £ 41,916 1,444,907	£ 130,362 779,000 907,078	2022 £ - 1,460,491
	1,830,018 (427,027)		1,816,440 (355,949)
	218,488 699,475		257,499 658,033
		1,444,907		1,460,491
		526,944 917,963		544,959 915,532

		1,444,907		1,460,491

Approved by the Directors on 5th October 2023 and signed on their behalf by:

Moira Sinclair Chair

The Clore Leadership Programme

Statement of cash flows

For the year ended 31 March 2023

For the year ended 31 March 2023
Note Cash flows from operating activities Net income / (expenditure) for the reporting period (as per the statement of financial activities) Dividends, interest and rent from investments (Increase)/decrease in debtors Increase/(decrease) in creditors Net cash provided by / (used in) operating activities (Increase)/decrease in fixed assets (Increase)/decrease in fixed term deposits Cash and cash equivalents at the end of the year Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Net cash provided by / (used in) investing activities Cash flows from investing activities: Dividends, interest and rents from investments	£ £ (15,584) (3,595) 18,494 71,078 70,393 3,595 (41,916) - (38,321) 32,072 907,078 939,150 2023		£ £ (152,795) (1,797) (38,145) 15,413 (177,324) 1,797 - (22,864) (21,067) (198,391) 1,105,469 907,078 2022
	3,595 (41,916) -		1,797 - (22,864)

		32,072 907,078		(198,391) 1,105,469
		939,150		907,078

The Clore Leadership Programme

Notes to the financial statements

For the year ended 31 March 2023

1 Accounting policies

a) Statutory information

The Clore Leadership Programme is a charity limited by guarantee and incorporated in England and Wales. The registered office is South Building, Somerset House, Strand, London, WC2R 1LA.

b) Basis of preparation

These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the requirements of the Companies Act 2006.

The Charitable Company is a public benefit entity for the purposes of FRS 102 and therefore the Charity's financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charitites Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland. (FRS 102)

These financial statements are prepared on the going concern basis, under historical cost conversion.

The presentational currency used is the British pound, and balances are rounded to the nearest £1.

In applying the financial reporting framework, the Directors have made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below.

c) Public benefit entity

The charity meets the definition of a public benefit entity under FRS 102.

d) Going concern

The Directors consider that there are no material uncertainties about the charity's ability to continue as a going concern.

The Directors do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

e) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Voluntary income is received by way of donations and gifts, including grants for core funding, and is included in full in the statement of financial activities when there is evidence of entitlement to the income, the receipt is probable and the amount can be measured reliably.

Revenue grants are credited to the statement of financial activities when received or receivable whichever is earlier, unless they relate to a specific future period, in which case they are deferred.

Where entitlement to grants receivable is dependent upon fulfilment of conditions within the charity's control, the incoming resources are recognised when there is sufficient evidence that conditions will be met. Where there is uncertainty as to whether the charity can meet such conditions the incoming resource is deferred.

The Clore Leadership Programme

Notes to the financial statements

For the year ended 31 March 2023

1 Accounting policies (continued)
e) Income (continued)

Where income has been received for Fellowships starting in the accounting period, it is recognised in full in the financial statements when received, and any amounts in respect of continuing Fellowships which are unspent at the period end are carried forward as restricted fund balances to be spent in future accounting periods. Where at the accounting year end Fellowships are continuing and income has not yet been received in respect of the uncompleted element of the Fellowship, the income is not recognised. Further income in respect of the uncompleted element will be recognised in the accounting period when it is received, or that in which the relevant parts of the Fellowship have been completed, whichever is earlier.

Fees for Courses and the Board Training Programme are recognised, net of VAT, in the period the course takes place. Grants received to fund a series of Courses or Board Training Programmes are recognised in proportion to the number of courses that have taken place in the period with the remainder deferred to future periods to support the remaining courses.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

f) Donations of gifts, services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the Directors’ annual report for more information about their contribution.

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

g) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

h) Fund accounting

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

Designated funds are unrestricted funds earmarked by the Directors for particular purposes.

i) Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Costs of raising funds relate to the costs incurred by the charity in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose
Expenditure on charitable activities includes the costs undertaken to further the purposes of the charity and their associated support costs
Other expenditure represents those items not falling into any other heading

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

The Clore Leadership Programme

Notes to the financial statements

For the year ended 31 March 2023

1 Accounting policies (continued)

j) Allocation of support costs

Resources expended are allocated to the particular activity where the cost relates directly to that activity.

Support costs are the costs of overall direction and administration, comprising the salary and overhead costs of the central function.

Governance costs, which are included within support costs, are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity's activities.

Support and governance costs are re-allocated to each of the activities on the following basis which is an estimate, based on staff time, of the amount attributable to each activity:

		2023	2022
	Fellowships	48%	51%
	Courses and other activities	25%	30%
	Board training programme	9%	6%
	Programme and development	18%	13%
	Events and projects	0%	0%

k) Operating leases

Rental charges are charged on a straight line basis over the term of the lease.

l) Fixed assets

- Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £1,000. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use. Major components are treated as a separate asset where they have significantly different patterns of consumption of economic benefits and are depreciated separately over its useful life.

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Office Equipment

Straight line over 3 years

- Intangible fixed assets

Intangible Fixed assets include development costs of the website. Amortisation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expecxted useful life. The amortisation rates are as follows:

Website

Straight line over 3 years

m) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

n) Short term deposits

Short term deposits includes cash balances that are invested in accounts with a maturity date of between 3 and 12 months.

o) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

p) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

The Clore Leadership Programme

Notes to the financial statements

For the year ended 31 March 2023

1 Accounting policies (continued)

q) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2 Income from donations and legacies

Income from donations and legacies
Other donations Clore Duffield Foundation-core funding	Unrestricted £ - -	£ 220,000 - Restricted	2023 Total £ 220,000 -	Unrestricted £ - -	£ 330,000 - Restricted	2022 Total £ 330,000 -
	-	220,000	220,000	-	330,000	330,000

3 Income from charitable activities

Fellowships a-n Artists Company Art Fund Arts Council England Arts Council of Ireland Creative Scotland Dancers Career Development Doc Society Gatsby Charitable Foundation Hong Kong Scholarships Linbury Trust National Lottery Heritage Fund National Resources Wales National Trust Take A Part Wellcome Trust Sub-total for Fellowships Arts and Humanities Research Council Association Commonwealth Universities	Unrestricted £ - - - - - - - - - - - - - - - - -	£ 20,000 3,000 86,895 - 30,000 28,500 30,000 15,000 20,000 60,000 30,500 15,000 60,000 - 15,000 18,000 30,000 Restricted	2023 Total £ 20,000 3,000 86,895 - 30,000 28,500 30,000 15,000 20,000 60,000 30,500 15,000 60,000 - 15,000 18,000 30,000	Unrestricted £ - - - - - - - - - - - - - - - - -	£ 15,000 - 49,600 25,475 4,425 - 22,500 15,000 - 60,000 - 15,000 30,000 20,000 25,000 - - Restricted	2022 Total £ 15,000 - 49,600 25,475 4,425 - 22,500 15,000 - 60,000 - 15,000 30,000 20,000 25,000 - -
	-	461,895	461,895	-	282,000	282,000

The Clore Leadership Programme

Notes to the financial statements

For the year ended 31 March 2023

3 Income from charitable activities (continued)

- - - 8,000 - 3,600	100,000 450,000 75,000 80,000 71,200 -	100,000 450,000 75,000 88,000 71,200 3,600	- - - - - 1,150	400,000 - - 80,000 - 31,000	400,000 - - 80,000 - 32,150
11,600	776,200	787,800	1,150	511,000	512,150
- 131,158	- -	- 131,158	- 97,979	24,525 -	24,525 97,979
131,158	-	131,158	97,979	24,525	122,504
6,500 12,048	25,000 -	31,500 12,048	7,625 3,875	15,500 -	23,125 3,875
18,548	25,000	43,548	11,500	15,500	27,000
18,540	-	18,540	44,957	-	44,957
18,540	-	18,540	44,957	-	44,957
179,846	1,263,095	1,442,941	155,586	833,025	988,611

The Clore Leadership Programme

Notes to the financial statements

For the year ended 31 March 2023

4a Analysis of expenditure (current year)

he year ended 31 March 2023 Analysis of expenditure (current year)
Direct costs Staff costs (Note 6) Other Staff costs Fellowship costs Fellows' research costs Fellows' residential leadership courses Course speakers, facilitators, venue and materials Board Development speakers, facilitators, venue and administration Events & Projects Support costs Office costs Programme development Communications, PR and website Governance Audit and accountancy fees Legal fees Total expenditure 2023			Charitable activities				2023 Total £ 533,487 7,165 347,397 121,546 157,821 266,670 24,663 9,340 - 89,720 78,364 29,238 - 16,709 -
	Raising funds £ - - - - - - - - - - - - -	Fellowships £ 266,548 3,463 347,397 121,546 157,821 - - - 43,366 - 14,132 8,076 -	Courses £ 117,546 1,770 - - - 266,670 - - 22,165 - 7,223 4,128 -	Board Training Programme £ 48,915 626 - - - - 24,663 - 7,833 - 2,553 1,459 -	Programme Development £ 100,478 1,306 - - - - - - 16,356 78,364 5,330 3,046 -	Events and projects £ - - - - - - - 9,340 - - - - -
	-	962,349	419,502	86,049	204,880	9,340	1,682,120

The Clore Leadership Programme

Notes to the financial statements

For the year ended 31 March 2022

4b Analysis of expenditure (prior year)

Analysis of expenditure (prior year) he year ended 31 March 2022
Direct costs Staff costs (Note 6) Other Staff costs Fellowship costs Fellows' research costs Fellows' residential leadership courses Course speakers, facilitators, venue and materials Board Development speakers, facilitators, venue and administration Events & Projects Support costs Office costs Programme development Communications, PR and website Governance Audit and accountancy fees Legal fees Total expenditure 2022			Charitable activities				2022 Total £ 500,008 14,374 369,629 32,511 66,612 236,784 40,111 12,185 - 84,885 68,002 30,706 - 17,396 -
	Raising funds £ - - - - - - - - - - - - -	Fellowships £ 265,169 7,392 369,629 32,511 66,612 - - - 43,651 - 15,790 8,946 -	Courses £ 134,095 4,223 - - - 236,784 - - 24,940 - 9,022 5,111 -	Board Training Programme £ 31,330 890 - - - - 40,111 - 5,256 - 1,901 1,077 -	Programme Development £ 69,414 1,869 - - - - - - 11,038 68,002 3,993 2,262 -	Events and projects £ - - - - - - - 12,185 - - - - -
	-	809,700	414,175	80,565	156,578	12,185	1,473,203

The Clore Leadership Programme

Notes to the financial statements

For the year ended 31 March 2023

5 Net income/(expenditure) for the year

This is stated after charging:

This is stated after charging:
	2023	2022
	£	£
Directors' expenses	-	-
Directors' remuneration (note 6)	-	-
Operating lease rentals payable:
Property	58,934	53,091
Auditor's remuneration (excluding VAT):
Audit - current year	10,120	8,800
Grant audit	2,780	4,920

6 Analysis of staff costs, Directors' remuneration and expenses, and the cost of key management personnel

Staff costs were as follows:

Staff costs were as follows:
Salaries and wages Employer’s contribution to defined contribution pension schemes Social security costs	2023 £ 449,590 44,603 39,293	2022 £ 422,511 39,471 38,026
	533,486	500,008

The Company contributes 9% of gross salary to personal pension schemes for each employee.

The following number of employees received employee benefits (excluding employer pension costs and employer's national insurance) during the year between:

		2023	2022
		No.	No.
£60,000	- £69,999	-	-
£70,000	- £79,999	-	-
£80,000	- £89,999	1	1

The Clore Leadership Programme

Notes to the financial statements

For the year ended 31 March 2023

7 Analysis of staff costs, Directors' remuneration and expenses, and the cost of key management personnel (continued)

The key management personnel of the charity are considered to be the Executive Director plus the Directors of the charity. Hilary Carty is not a Director of the charity. Total staff costs relating to these employees are as follows:

Salary £ 87,547	Employers'NIC £ 11,406	Pension £ 7,744	2023 £ 106,697
87,547	11,406	7,744	106,697
Salary £ 82,738	Employers'NIC 10,197	Pension £ 7,446	2022 £ 100,381
82,738	10,197	7,446	100,381

8 Staff numbers

The average number of employees (head count based on number of staff employed) during the year was 12 (2022: 12).

The average weekly number of employees (full-time equivalent) during the year was as follows:

Programme Development Courses Support costs & Governance Fellowships	2023 No. 5.0 2.6 2.8 -	2022 No. 5.5 3.2 2.1 -
	10.4	10.8

The Clore Leadership Programme

Notes to the financial statements

For the year ended 31 March 2023

9 Related party transactions

Dame Vivien Duffied, founding patron and Board Director, is also the Chairman of the Clore Duffield Foundation. David Harrel is a Trustee of the Clore Duffield Foundation and a member of the Board of the Clore Leadership Programme. During the period ending 31 March 2023 the Clore Duffield Foundation provided a grant to the Clore Leadership Programme for operational costs totalling £220,000 (2022: £330,000).

During the year four (2022: Nil) Directors were reimbursed £1,006 expenses (2022: £0) for the purpose of travel and meeting costs. Four Directors (2022: Nil) received £3,350 fees for speaking at Residentials (2021: £0). In addition to this one Director (2022: Nil) was awarded £10,000 (2022: £0) of AHRC funding for a research project.

Directors also had indemnity insurance included in a combined insurance policy.

Other than those disclosed above, there are no other donations from related parties which are outside the normal course of business and no restricted donations from related parties.

10 Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

11 Intangible fixed assets

Intangible fixed assets
At the end of the year Net book value Prepayments Accrued income Trade debtors Other debtors Debtors Cost At the start of the year Additions in year Disposals in year At the end of the year At the end of the year At the start of the year All of the above assets are used for charitable purposes. Depreciation At the start of the year Charge for the year Disposals in year	Website £ - 41,916 -	Total £ - 41,916 -
	41,916	41,916
	- - -	- - -
	-	-
	41,916	41,916
	-	-
	2023 £ 583 28,079 30,335 52,871	2022 £ 75,621 24,784 27,957 2,000
	111,868	130,362

12 Debtors

The Clore Leadership Programme

Notes to the financial statements

For the year ended 31 March 2023

13 Creditors: amounts falling due within one year

e year ended 31 March 2023 Creditors: amounts falling due within one year
Other creditors Accruals Deferred income (note 14) Trade creditors Taxation and social security	2023 £ 46,281 12,973 6,874 75,399 285,500	2022 £ 117,065 11,463 6,891 94,228 126,302
	427,027	355,949

14 Deferred income

Deferred income comprises of income received for future fellowships and courses.

Deferred income comprises of income received for future fellowships and courses.
Balance at the beginning of the year Amount released to income in the year Amount deferred in the year Balance at the end of the year	2023 £ 126,302 (121,402) 280,600	2022 £ 193,677 (191,450) 124,075
	285,500	126,302

15a Analysis of net assets between funds (current year)

Analysis of net assets between funds (current year)
Net assets at 31 March 2023 Analysis of net assets between funds (prior year) Net current assets Net current assets Net assets at 31 March 2022	General unrestricted £ 699,475	Designated £ 218,488	Restricted £ 526,944	Total funds £ 1,444,907
	699,475	218,488	526,944	1,444,907
	General unrestricted £ 658,033	Designated £ 257,499	Restricted £ 544,959	Total funds £ 1,460,491
	658,033	257,499	544,959	1,460,491

15b Analysis of net assets between funds (prior year)

The Clore Leadership Programme

Notes to the financial statements

For the year ended 31 March 2023

16a Movements in funds (current year)

e year ended 31 March 2023 Movements in funds (current year)
Creative Scotland Dancers Career Development Doc Society Wellcome Trust Courses Arts Council England Arts Council Wales British Library Disability Access Fund Wellcome Trust Board Training Programme Cultural Governance Alliance Restricted funds: Core funding Fellowship Linbury Trust Art Fund Take A Part a-n Artists Company National Trust Clore Duffield Foundation Arts and Humanities Research Council Arts Council of Ireland Association Commonwealth Universities BBC Gatsby Charitable Foundation National Lottery Heritage Fund Hong Kong Scholarships	At 1 April 2022 £ 340,397	Income & gains £ 220,000	Expenditure & losses £ (289,019)	Transfers £ -	At 31 March 2023 £ 271,378
	- 4,873 39,464 - 44,123 32,885 (7,500) - - 28,969 29,937 3,701 12,417 3,518 - (8,517)	20,000 3,000 86,895 30,000 28,500 - 30,000 15,000 20,000 60,000 30,500 15,000 60,000 15,000 18,000 30,000	(17,525) (7,873) (86,135) (38,772) (51,000) (32,885) (28,701) (13,926) (19,000) (59,549) (33,250) (13,926) (59,500) (20,500) (17,329) (11,483)	- - - - - - - - - - - - - - - -	2,475 - 40,224 (8,772) 21,623 - (6,201) 1,074 1,000 29,420 27,187 4,775 12,917 (1,982) 671 10,000
	183,870 90 3,827 3,341 16,932 110	461,895 - - - - -	(511,354) (90) (3,827) (3,341) (12,600) (110)	- - - - - -	134,411 - - - 4,332 -
	24,300 (17,359)	- 25,000	(19,968) (6,114)	- -	4,332 1,527
	(17,359)	25,000	(6,114)	-	1,527

The Clore Leadership Programme

Notes to the financial statements

For the year ended 31 March 2023

16a Movements in funds (current year)

At 1 April 2022 £ (4,193) - 15,760 - 2,184 -	Income & gains £ 100,000 450,000 - 75,000 80,000 71,200	Expenditure & losses £ (38,025) (493,049) (3,000) (11,514) (80,440) (48,627)	Transfers £ - - - - -	At 31 March 2023 £ 57,782 (43,049) 12,760 63,486 1,744 22,573
13,751 544,959	776,200 1,483,095	(674,655) (1,501,110)	- -	115,296 526,944
120,609 120,791 16,099	- - -	(35,411) - (3,600)	- -	85,198 120,791 12,499
257,499	-	(39,011)	-	218,488
658,033	183,441	(141,999)	-	699,475
915,532	183,441	(181,010)	-	917,963
1,460,491	1,666,536	(1,682,120)	-	1,444,907

The narrative to explain the purpose of each fund is given at the foot of the note below.

The Clore Leadership Programme

Notes to the financial statements

For the year ended 31 March 2023

16b Movements in funds (prior year)

e year ended 31 March 2023 Movements in funds (prior year)
Wellcome Trust Courses Arts Council England Arts Council Wales British Library Disability Access Fund Wellcome Trust Board Training Programme Cultural Governance Alliance Linbury Trust British Library Gatsby Charitable Foundation National Lottery Heritage Fund Hong Kong Scholarships a-n Artists Company Clore Duffield Foundation Arts Council England Fellowships Arts Council of Ireland Fellowship Art and Humanities Research Council Art Fund National Trust Core funding Restricted funds: Dancers Career Development National Resources Wales Association Commonwealth Universities BBC Creative Scotland	At 1 April 2021 £ 309,794 - 15,401 22,375 (25,475) (939) 44,123 32,885 3,341 - - 29,829 34,665 3,701 12,417 0 (1,482) 11,483	Income & gains £ 330,000 15,000 - 49,600 25,475 4,425 - - - 22,500 15,000 60,000 - 15,000 30,000 20,000 25,000 -	Expenditure & losses £ (299,397) (15,000) (10,528) (32,511) - - - - - (30,000) (15,000) (60,860) (4,728) (15,000) (30,000) (20,000) (20,000) (20,000)	Transfers £ - - - - - (3,486) - - (3,341) - - - - - - - - -	At 31 March 2022 £ 340,397 - 4,873 39,464 - - 44,123 32,885 - (7,500) - 28,969 29,937 3,701 12,417 - 3,518 (8,517)
	182,324 (24,435) 10,327 - 28,132 110	282,000 24,525 - - - -	(273,627) - (6,500) - (11,200) -	(6,827) - - 3,341 - -	183,870 90 3,827 3,341 16,932 110
	14,134 4,021	24,525 15,500	(17,700) (36,880)	3,341 -	24,300 (17,359)
	4,021	15,500	(36,880)	-	(17,359)

The Clore Leadership Programme

Notes to the financial statements

For the year ended 31 March 2023

16b Movements in funds (prior year) continued

At 1 April 2021 - 172,304 21,353 193,657	Income & gains 31,000 400,000 80,000 511,000	Expenditure & losses (15,240) (576,497) (99,169) (690,906)	Transfers - - - -	At 31 March 2022 15,760 (4,193) 2,184 13,751
703,930	1,163,025	(1,318,510)	(3,486)	544,959
125,992 120,791 40,259	- - -	(8,869) - (24,160)	3,486 - -	120,609 120,791 16,099
287,042	-	(33,029)	3,486	257,499
622,314	157,383	(121,664)	-	658,033
909,356	157,383	(154,693)	3,486	915,532
1,613,286	1,320,408	(1,473,203)	-	1,460,491

Purposes of restricted funds

a-n Artists Company - Visual Artist Fellowship

Art Fund - Fellowship for curator

Arts and Humanities Research Council - in depth research projects supervised by Higher Education Institutes. Arts Council England - Fellowships for cultural leaders in England

Arts Council of Ireland - Jerome Hynes Fellowship

Association Commonwealth Universities (ACU) - Chevening scholarships funded by Foreign & Commonwealth Office

BBC - Fellowship and course places for BBC BAME and/or disabled senior leaders

Creative Scotland - Fellowship for cultural leader in Scotland

Dancers Career Development - Fellowship for professional dancer

Doc Society - Fellowship for employee of Doc Society

Gatsby Charitable Foundation - Fellowships for cultural leaders working in theatre

Hong Kong Scholarships - Fellowships for cultural leaders in Hong Kong

Linbury Trust - Fellowship for professional dancer

National Lottery Heritage Fund - Fellowships for cultural leaders working in heritage

National Resources Wales - Fellowships for employee of National Resources Wales

National Trust - F ellowship for employee of National Trust

Take A Part - F ellowship for employee of Take A Part

The Clore Leadership Programme

Notes to the financial statements

For the year ended 31 March 2023

16 Purposes of restricted funds (continued)

Wellcome Trust - Fellowship for leader developing links between arts and science

Courses

Arts Council England - Leadership Intensive, Pulse and Emerging Leaders courses

Arts Council Wales - Bursary fund for course participants from Wales British Library - Bursary fund for course participants employed by British Library Disability Access Fund - Bursary fund for individuals with access requirements Wellcome Trust - B ursary fund for individuals developing links between arts and science

Board Training Programme

Cultural Governance Alliance - Cultural Sector Governance Development

Programme development

Art Fund - development of Art Fund funded programme

Arts Council England - development of ACE funded programme (Transforming Leadership)

Esmee Fairbairn - development of Esmee Fairbairn funded programme

Tees Valley Combined Authority - development of place-based learning programme

British Council Microp(il)ots - development of International Mapping and Alumni Activation Programme

Purposes of designated funds

The following funds will be spent over the next 3-5 years in line with programme strategy and development: Fellowship - fellowships not funded from other sources

Programme Development & Strategic Projects- funding for future projects

Courses - bursaries for courses and learning projects

17 Operating lease commitments payable as a lessee

The charity's total future minimum lease payments under non-cancellable operating leases is as follows for each of the following periods:

the following periods:
Less than one year One to five years	2023 2022 £ £ 45,992 45,992 34,494 80,486 Property
	80,486	126,478

18 Capital commitments

At the balance sheet date, the charity had committed to £42,126 (2022: £0) in respect of website development costs.

19 Legal status of the charity

The charity is a company limited by guarantee and has no share capital. Each member of the company has guaranteed to contribute up to £1 in the event of winding up.