Company registration number: 05254229 Charity registration number- 1106952 The Spark Arts for Children (A covnpany limited by guarantee) Annual Report and Financial Statements for the Year Ended ) l March 2025 Community Accounting Plus Units l & 2 North West 41 Talbot Street Nottingham NGI 5GL
The Spark Arts for Children Contents Reference and Administrative Details Trustees, Report 2to 10 Independent Examiner's Report Statement of Financial Activities 12to 13 Balance Sheet 14 Statement of Cash Flows 15 Notes to the Financial Statements 16to25
The Spark Arts for Children Reference and Administrative Details Truslees RLee P Bennett J Mann S L M Guthrie M Reza M E Candler Secretary Kamini Chhana Senior Management Team Trina Haldar, Interim Director Charity Registration Number 1106952 Company Registration Iyumber 05?54229 Registered Otrice LCB Depot J l Rutland Street Leicester Leicestershire LEI IRE Independeni Examiner Eva Stevens. employee of Community Accounting Plus Units l & 2 North West 41 Talbot Street Nottingham NGI iGL Bankers Metro Bank One Southhampton Row London WCIB SHA Santander sannder Business Banking operations Sunderland SR4) 4FW Page I
The Spark Arts for Children Trustees, Report The trustees, who are directors for the puryjoses of company law. present the annual report together with the financial statements of the charitable company for the year ended ) l March 2025. Truslees and officers The trnstees and officers serving during the year and since the year end were as folloivs: Trustees: RLee P Bennett J Mann S L M Guthrie M Reza M E Candler Secretary: T Kidder (resigned l June 2025) Kamini Chhana (appointed l June 2025) Structureg governanee and management Il'ature ofgoverning documenl The charity is a company limited by guarantee and registered charity. The charity is Controlled by its governing document, a deed of trust. daied 8 October 2004. It has no share capital and the liability of each member in the event of winding-up is limited to £ l. Recruilpnenl and appoinlpnenl offtruslees To help deliver its public benefil, the charity aims to have an overall balance of skills. aptitude and representation within its Trusiees. Regular skills audits a undertaken by the Chair, and recruitment is undertaken where areas are felt to be underrepresented. An equalities survey is undertaken )'early and any recnlitment aims for a balance across gender, ethnicity sexual orientation, disability and lower soci(Feconomic groups. The charity aims to have one "young" Trustee aged between 18-24. One third (or the number nearest one third) of the Trustees must retire at each AGM, and may be re-elected. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). Page 2
The Spark Arts for Children Trustees, Report Objectives and activities Objects and aims The charity's objects per the Articles of Association are as follows: To advance the education and development of children and young people in Leicester, Leicestershire and beyond through a range of activities. including the organisation and promotion of an annual arts festival, consisting of workshops and productions of dance, theatre and other performing arts- presented in theatres, community venues and school5. Mission, vision and values Mission Working in partnership to empower children to thrive. we explore the difference culture makes through arts engagemenL creative interactions and cultural connections, enabling children's voices to be heard, their creativity supported, and their cultural values understood. Vision Extraordinary experiences for children, sparking creativity and change. Values Our values underpin everything we do: A fair and safe environment 'here everyone is valued The space for big ideas to grow We are curious and love learning Empowering children and young people to be amazing Since 2004, The Spark has been culturally raising the children of Leicester and Leicestershire. We empower children's creative potential in nurseries. schools. playgrounds and homes. libraries. museums, theatres and art centres. We promote children's cultural values and communities through strong partnerships, creative practices and innovation. A key strength is how we support artists at different stages in their careers and practices. Conceived in 2018, Vital Spark is a movement that addresses the lack of diversity in live and digital perforniance for young audiences. We co-create professional development opportunities and co-commission and produce new work, supporting artists who are undeepresented in the creative and cultural industries. In turn, these artists support us in our capacity to be a more inclusive and accessible organisation. Our ambition is for our work to be as thought-provoking as it is playful. and for our organisation to be as creative as our delivery. Our goal is to adapt and change as children's communities change and to continue to be relevant to all children. Page i
The Spark Arts for Children Trustees, Report Strategic objectives The following strategic objectives provide continuity during change and the foundation5 for a structured period of business developtnent from 2025. Our Strategic objectives: Cornmi5sion and produce a high quality and diverse cultural progrdmme for children in cultural venues, schools and libraries. enabling childn. their families and communities to experience the richness of the arts. Deliver a cfrcreated children's arts festival recognised nationally and connected internationally for the representation, ambition and innovaiion of the programme. and valued for its contribution to the quality of life for children. Champion arts-based learning and teaching for creativity. collabordting to ensure children locally access and influence arts and cultural opportunities, no matter where they slart in life, as their right to creativity, agency and play. Build an entrepreneurial culture on existing work and new ways of working, where diverse organisational and grassroots governance and creativity in strategy creates a step change in practice and moves our work towards sustainability. Our outcome5 Our values and strategies are strongly aligned with Arts Council England's Investment Principles and Outcomes long tenn. We deliver Creative People, Cultural Communities and A Creative and Cultural Country outcomes, principally.. Providing high-quality early years activities that reach families from a wider range of backgrounds. Widening and improving opportunities for children and young people to take part in creative activities inside schools- Widening and improving opportunities for children and young people to take part in creative activities outside schools: Supporting children and young people to develop their creative skills and potential: Improving access to a full range of cultural opportunities wherever people live: Working with communities to better understand and respond to their needs and interests, resulting in increased cultural engagement and the M'ide range of social benefits it brinus- .h place-based partnership5 to 5UPPOrt and involve communities in hig quality Working collaboratively throuu culture, improve creative and cultural education for children and young people, improve health and wellbeing through creative and cultural activity, build ski115 and capacity in the cultural sector and grow its economic impact; Supporting new types of creative practice, new fonns of cultural content and new ways of reaching new and existing audiences and participants. Ensuring people have opportunities to sustain their careers and fulfil their potential in the creative industries, especially those who are currently Under-present¢d. Page 4
The Spark Arts for Children Trustees, Report Significant activities Organisational restrueture In January ?0?4, trustees began an independent review olthe organisation with the support of Nu Leaf. Following the departures of Artistic Director ChrisiopheT Gorry and the Interim Executive Producer Tom Neton in June 2024, Trina Haldar was appointed in September ?0?4. as Interim Director, and remains in place to provide stability and leadership to ihe organisation during a period of significant change. Following the depanure of Community Enoagement Offlcer James Lawrence in 2024, freelance marketing and commLmications is fixed short-terni to provide expertise, place-based knowledge and effective and continuous delivery. The new organisational siructure is being phased in as we finalise the changes to existing roles and recruit into new roles. This work will be completed during Autumn 2025 1th vacant posts due to be filled by late 2025. Our approach to Co-creation Our 'ork is evidence-based and increasingly c(Fconstru¢ted between artists. teachers and children to improve outcomes for children, families. artists and creative practitioners. C(pcreating evaluation will be key to our success moving forward. With a change in leadership. we refined our theory of change in 2024 to support embedding our organisation-wide evaluation framework. driven by our Quality and Ambition investment principle and linking activity delivery and impact me&surement across our other investment principles: Inclusivity and Relevance, Environmental Responsibility and Dynamism. The Mega Bosse5 of Spark- Child Action Group Children are at the heart of every.thing H'e do ai The Spark. This includes noi only what we do artistically but also how we do it - we want to ensure children's voices are hear(L and most importantly action is taken. Implemented in 202J. the child action group is made up of 8 to IJ year olds from across Leicester, and helps The Spark to understand what kinds of arts and creaiive activiiies children want to see and tak.e part in, and what 'amazing' looks like for them. Their Quality and Ambition Manifesto drives our work: We believe in equity for all. This means givino everyone the opportunity to join in Spark Arts events should be exciting and enjoyable for all We stand for everyone around the world to feel welcome and respected Be fun, less boring. We want Spark Arts to do activities in schools that help children to be confident Children attend monthly sessions with members of the team and artists. Twice a year the trustees and leadership team feedback to the child action group on the actions they have taken to deliver their manifesto across the organisation and provide an opportunity for a feedback loop olprogres5. actions and development. Our headlines for 2024-2025 are presented below, starting with a data snapshot and followed by a handful of highlights to demonstrate how our work 15 reaching new audiences. Employed 50 artists (compared to )4 in 20?3124) Programmed 55 perfomlances (compared to 52 in 2023124) Engaging 13,871 in person and 7,200 on social media tothlling 21,071 (compared to 17.322 in 2023124) And 7,273 children and families actively panicipaiing (compared to J.762 in 2023124). Page 5
The Spark Arts for Children Trustees, Report Public benefit In summary, the main activities The Spark Arts for Children delivers throughout the year for public benefit is a range of activities including artistic skills and capacity building. perforniing ans, visual arts and digital arts presentations, productions and participation M'orkshops and events. Because these aciivities take place in schools, libraries, theatres, arts cenires, museums, outdoors and online, we help to advance children's learning and development, delivering social, economic and cultural education outcomes for children in Leicester, Leicestershire and the East Midlands. Importantly, we have priorilised child voice, participation: and leadership to support children to feel empowered. to feel their voices are being heard and to see that change is happening because of the decisions they are making and actions they are taking. We believe that by supporting children, teachers, and artists to build their creative capabilities and by working collaboratively, together we can make social and cultural change sustainable. The trustees confirni that they have complied M'ith the requirements of section 17 of the Charities Act 201 I to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Achievements and performance eriencin the extraordina Spark Festival 2024 and Spark Live We are wannly known for our annual Festival and this year we launched Spark LIVE, while the main public Festival now happens every other year. we present a little Festival magic through the year, on a non-Festival year, in order to offer more to our community. This year we hosted a total of l J Spark LIVE events a5 part of the At Your Schoo15 programme in partnership with a number of cotnmunity and cultural vevjues acr055 the city. These were offered at low cost to Schools to ensure all children can experience a rich cultural offer. We work-ed with theatre companies, musician5 and dance companies to present a diverse ranue of activities that enabled those Viho wouldn't ordinarily engage in arts and culture to engage in high quality activities. Bllildin a diverse workforee Vitsl Spark Relationship Programme and Ideas Fund Since 2018, 65 artists have engaged in Vital Spark.. in development (e.g. g(Fsees. masterclasses: networking events). with investment in ideas (e.g. ideas fund. fundraising support. R&D. providing and brokering Specialist guidance, mentoring). producing full commi55iOV]s (partnership developtnent, Co-commissioning investment)- and Seat at the Table events (Code olcare development and peer to peer learning). Thi5 unique programme a150 supports softer skills development: in recognition that many underrepresented artists are intersectional and function outside of a set System. We encourage. empower and enhance new approaches to creating and how the industry receives their artistry. In 2024-25. an investment of £20,000 supported: 7 artists. focusing on Early years, telling untold stories through heritage lens. spoken M'ord. digithl animation. projection mapping, dance. and theatre. Over an the engagement period. the artists took part in a residential (including masterclasses and network events, Go & See visits {Manchester. London):J days. 7 venues visited. 9 perforniances attended. Created a Artist Takeover Event: Sharing practice with 22+ programmers (including 2 international children's festival programmers). One-to-one Support included.. 24 coaching sessions (6 per artisi). 16 mentoring sessions. 4 funding support sessions. From the cohort of artists 4 funding bids were submitted.. J successful, I pending.
The Spark Arts for Children Trustees, Report A child's ri htto Leicester experiences significant deprivation. Before Covid-19, some Leicester communities faced inequalities and exclusion Leicester had the 7th highest poverty rate of 181 urban authorities (Leicester City Council, 2020). It is widely accepted that lockdo had a detrimental effect on the m05t isolated and vulnerable, particularly children. Our work delivers cultural opportunity and equitable outcome5. Small Wonders Small wonders, as part of our early years offer recommenced in October 2024 in partnerships with Leicester Libraries and Early Help through our strong partnership with Leicester Cit), Council. Small Wonders continues to SUPPOrt exceptional creative pedago(p y and practice showing gromih potential for training and peer-to-peer learning, particularly for artists new to the industry or Work in early years and early year5 practitioners. We will continue to build our partnership5 towards 5UStainable engagement and funding. Musie Champions The musicians training programme, developing craft applicable to early years settings which will culminate in September 20?5. Delivered a transfomiative sector development project. increasing the skills and expertise of musicians. Working in partnership with Leicester City Council Neighbourhood Services and Early Help and Leicestershire Music Hub. We've explored and tested the delivery model underpitmed by two key principles: Equal partnership between musician and early years practitioner- and Child led music play leading to the m05t impact on the child. We now have grown an established talented and trained pool of local and regional freelance musicians (Music Champions). who work effectively in early year5 child developtnent. Future itnprovements include increasing parental engagement, early years Continuing Professional Development and Learning resource5 for musicians and advocacy for music and the arts in early years practitioner training. A ehild's ri ht to creativit At Your School Tour With our ongoing commitment to culturally raise the children ol Leicester by providing access to hi] quality arts and culture. we delivered our At Your School programme to a number of schools in May 2024. Across 7 day5 we toured 3 production5 to Leice5teT Primary 5chools- Belongings a piece about a looked-after child and what it means to belong: Arun Ghosh and Friends - live IndJaIl gig in schools. and Birdie - three professional actors with learning disabilities. blending intricate choreography. original music. to tell a powerful story about climate change. J195 audience members experienced the productions across )4 perfonnances. Building Brave Spaces Supported by Paul Haml}'n Foundation. Building Brave Spaces works totseiher '"Ith schools to explore how theatre can harness and amplify children s voices and really place them at the heart of our 'ork with schools. In partnership with Falcons, Medway, Mayflower, Charnwood Primary Schools we have been learning about children's voice, participation and leadership in the PSHE curriculum, and the benefits of creative expression and wellbeing on child development and learning. Page 7
The Spark Arts for Children Trustees, Report Funding The Spark Arts for Children receives National Portfolio Organisation (NPO) funding from Arts Council England. now confirn]ed for the period 2023 to 2027. The Spark continues to receive the majority of its income from Arts Council England, Trust5 and Foundations and Local Authorities across the breadth of our work in creative workforce development, libraries, schools and communities. including a core funding contribulion from Lei¢esier City Council for our festival work. During the year the Charity also received welcome support from corporate partners and iTJdividual donors, and these continue to be an important component of income generation. Financial review Deferred restricted funds to 20?4_25: £5,000 (?02i-24 £19,641) Restricted Funds carried forward: £205.659 (20kn? J-24 £1 ?9.001) Unrestricted Funds carried foTh'ard'. £119,766 (202J-24 £J8,777) Totals reserves carried forward: £325,425 (?0? J-24 £167,778) Policy on reserves This section explains how and when our reserves can be spent and how much we need to hold in reserves and why. The purpose of the Reserves Policy is lo explain the stability of the mission, employmenL programmes and ongoing operations of the organisalion and to provide a source of internal funds for organisational priorities such as programme opportunity, and capacity and skills buildin£. The Reserves Policy is implemented alongside other governance and financial policies. aligned to make sure policies and strategies are joined up to provide the structure, systems and practices to deliver our strategic goals and operational plans. Reserves are planned to provide an intemal source of funds for situations such as a Sudden increase in expenses, one-time unbudgeted expenses, unanticipated loss in funding. or uninsured losses. Reserves are also intended to provide an internal source of funds where the company permanently ceases charitable activities and must close operations. Our reserves are used to demonstrate and build resilience. As such, they Serve a dalC role and are regularly reviewed and adjusted in response to both internal and external changes. The minimum target for reserves to be held is currently established as an amount sufficient to maintain ongoing operations and programmes measured for a set peri(Kl of three months. At the last financial year (23124) our unresiricted reserves '¢re £i8,777 (compared w.ith £124.?61 at the end of 2?12)). Our unrestricted reserves for the end of the current financial year (?4n5) w.ere higher. holding £119,766. recorded in the financial records as Unrestricted Funds. £68,777 is held as UmStrICted designaied funds and £50,989 is held as unrestricted general funds. The Funds will be funded and available in cash or cash equivalent funds. Building resilience. we need to hold this amount in operating reserve to set aside funds to meet essential future spending on projects that will noi be mei from future income in the short tenn. We have a clear and realistic fundraising strategy (incorporating trusts and foundatlons. sponsorship. public donations. direct activity income, and other earned income) and a stralegy to reduce expenditure where possible across core budgets. These strategies are planned to re-build Conlingency and Welfare reserves to £95k by ?0?7.
The Spark Arts for Children Trustees, Report Reviewing and reporting on Ihe Reserves Policy The Reserves Policy 15 reuularly reviewed by the leadership team and reviewed on a quarterly basis by the Board of Trustees to make sure we aren't setting aside too Inuch or too little. We will use our trustees, annual port to tell donors. funders and other stakeholders: .hy we need to keep money aside instead of spending it on our charity's aims: how much we hold in reserve; .hy 'e need to hold this amount in reserve: hat our reserves can be spent on. Reserves are recorded in the financial records as Unrestricted General Funds. The Funds will be fimded and available in cash or cash equivalent funds. Level of rerVeS At the last financial year (23124) our unrestricted reserves were £38,777 (compared with £124,261 at the end of 22123). Our unrestricted reserves for the end of the cuent financial year (?4125) is £1 19,766. Our strategies to re-build reserves are as folloi¥s-. l. A clear and realistic fundraising strategy (incorporating trnsts and foundations. sponsorship, public donations, direct activity income, and other earned income) reviewed and monitored on a monthly basis by the leadership team. 2. A strategy to reduce expenditure where possible acr055 core budget5 (incl. overheads and marketing). 3. Increasing our partnership M'ork to reduce costs where possible through in-kind support. 4. Implement our full cost recovery tnodel to ensure we are recouping cost5 for project5 that require use of core resources. 5. Establish income generating strand5 of work that increase the level olunrestricted funds. This strategy is now implemented to build-up the reserves over 4 years (202i-27) to £95k, revised in 2024125. Page 9
The Spark Arts for Children Trustees, Report Slatemenl of Responsibilities The trnstees (who are also the directors of The Spark Arts for Children for the purposes of company law) are responsible for preparing the truslees, report and the fmancial statemenis in accordance wlth applicable law and United Kingdom Accounting Standards (Uniled Kinodom Generally Accepted Accounting Practice). including FRS 102 "The Financial Reporting Siandard applicable in the UK and Republic of Ireland" The report and accounts have been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies. Company law requires the trustees to prepare financial statements for each financial year. Under company law the irustees must not approve the financial staiements unless they are satisfied that they giiwe a true and fair view of the state of affairs of ihe charitable company and of ihe incoming resources and application of resources, including its income and expenditure. of the charitable company for that period. In preparing these financial slatements, the trustees are required to: select suitable accounting policie5 and apply them consistently- observe the methods and principles in the Charities SORP- make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departure5 disc105ed and explained in the financial statements- and prepare the financial statemenls on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial posilion of the charitable company and enable them to ensure that the financial statements comply with the Companies Aci 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. The trustees are responsible lor the tnaintenance and integrity of the corporate and financial inforn]ation included on the charitable company's website. Leuislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Stnall COTnpanies provision statement This report has been prepared in accordance with the small companies gIMe under the Companies Act 2006. Approved by the trustees of the charity on 17 November 2025 and signed on its behalf by: M Kela rustee Page 10
The Spark Arts for Children Independent Examiner's Report to the trustees of The Spark Arts for Children ('the Compall) ) Independent examiner'5 report to the trustee5 of The Spark Art5 for Children ('the Company,) I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2025. Responsibilities and basis of report As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the Company a not required to be audited under Part 16 of the 2006 Act and are eligible for independent eiamination. I report in respect of my examination of your charity's accounts as carried out under section 145 of the Chariiies Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5}(b) of the 2011 Act. Independent examiner's stalement Since the Company'5 gr055 income exceeded £?50.000 YOUT exatniner must be a metnber of a body listed in section 145 of the 201 l Act. I confim] thai l am qualified to undertake the examiiiation because l am a member of the Chartered Institute of Public Finance and Accountancy {CIPFA). 'hICh is one of the listed bodies. I have completed my examination. l confirn) that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting record5 were not kept in respect of the Company a5 required by section 386 of the 2006 Act. or 2. the accounts do not accord with those records- or 3. the accounts do not comply with the accounting requirements of section )96 of the 2006 Act other than any requirement that the accounts give a 'true and faif view which is not a matter considered as part of an independent examination- or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no concerns and have come across no other matters in connection with the examination to which attentioii should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Ea S'tevei)s. BSL, LPFA. employee of Community Accounting Plus member of the Chartered Institute of Public Finance and AccoUnLcY (CIPFA) Units l & 2 North West 41 Talbot Street Nottingham NGI 5GL 17 November 2025 Pagell
The Spark Arts for Children Statement of Financial Activities for the Year Ended 31 March 202$ (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unreslrieled funds Restricted funds Totsl 2025 Total 2024 Note Ineome and Endowments from: Donations and legacies Charitable activities Investment income 188,887 188,887 342,664 2.054 176,634 268,751 1,619 Jll,861 2.054 Total income 2?1,744 311,861 533,605 447,004 Expenditure on: Charitable activities (140.755) (235.20)) (375,958) {432,173) Total expenditure {140.755) (235,20)) (375.958) (432,173) Net income 80,989 76,658 157,647 Net movement in funds 80,989 76,658 157,647 Reconciliation of funds Total funds brought fon¥ard 1 ?9,001 167,778 152,947 Total funds carried forward 119,766 205,659 J?5,425 167,778 All of the charity's activities derive from continuing operations during the above two periods. The funds breakdowm for the period is shown in note l i. The notes on pages 16 to 25 forni an integral part of these financial statements. Page 12
The Spark Arts for Children Statement of Financial Activities for the Year Ended 31 March 202$ (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) These are the figures for the previous accounting period and are ineluded for comparative purposes Unrestricted Reslrieled Total funds fund5 2024 Notc Income and Endowments from: Donations and legacies Charitable activilies Investment income 176,6J4 15,440 1,619 176,634 268,751 1,619 253,311 Total income 193,69J 253,311 447,004 Expenditure on: Charitable activities (279.177) (152,996) (432,173) Total expenditure (279.177) (152,996) {432,173) Net (expenditure)/income (85,484) 100,315 14,831 Net movement in funds (85,484) 100,315 14.831 Reconcilialion of funds Total funds brought fOard 1 ?4,261 28,686 152,947 Total funds carried fon¥ard 13 129,001 167,778 The notes on pages 16 to 25 forni an integral part of these financial statements. Page li
The Spark Arts for Children (Registration number: 05254229) Balance Sheet as at 31 March 2025 2025 2024 Note Fixed assels Tangible assets 841 2,781 Current assets Debtors Cash at bank and in hand io 1.815 335,937 23,974 190,703 337,752 214,677 Creditor5: Amount5 falling due within one year 12 (13,168) (49,680) Net current assets 4,584 164,997 Net assets 325,425 167,778 Funds of the charity: Restricted income funds Restricted funds 13 205,659 129,001 Unrestricted income funds Unrestricted funds 119,766 Total funds 325,425 167,778 For the financial j'ear ending 31 March ?0?5 the charity was entitled to exemption from audit under section 477 of the Companies Act ?006 relating to small companie5. Directors, re5ponsibilities- The members have not required the charity to obtsin an audit of its accounts for the year in question in accordance with section 476: and The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These financial 5tatement5 have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The financial statements on paue5 1? to 25 were approved by the trustees. and authorised for issue on 17 November 2025 and signed on iheir behalf by: M Kela rustee M E Candler Trustee The notes on pages 16 to 25 forni an integral part of these financial statements. Page 14
The Spark Arts for Children Statement of Cash Flows for the Year Ended 31 March 2025 2025 2024 Note Cash floivs from operating activitie5 Net cash income 157,647 Adjustments to cash flow's from non-cash items Depreciation Investment income 1.940 (2,054) 1,899 (1,619) 157,533 Working capital adjustments Decreasel(increase) in debtors Decrease in creditors (Decrease)/increase in deferred income 10 12 22,159 (21,871) (14,641) (16,241) ()8,726) 19,641 12 Net cash flows from operating activities 143,180 (20,215) Cash flows from investing actii'ities Interest receivable and similar income Purchase of tangible fLKed assets 2.054 1,619 (2,498) Net cash flows from investing activities 2,054 (879) Net increase/(decrease) in cash and cash equivalents 145,234 (21,094) Cash and cash equivalents at l April 190,70J 211,797 Cash and cash equivalents at J l March 335,937 190,703 Reeoneiliation of net cash flow to movemellt in net (unds Increasel(decrease) in cash 145,234 (21,094) Net funds at l April 2024 190,703 211,797 Net funds at 31 March 2025 J35,9J7 190,70) All of the cash flows are derived from continuing operations during the above two periods. The notes on pages 16 to 25 forni an integral part of these financial statements. Page 15
The Spark Arts for Children Notes to the Financial Statements for the Year Ended 31 March 2025 l Accounting policies Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial Statements are set out below. These policie5 have been consistently applied to all the years presente(L unle55 Othenvi5e stated. Slatement of compliance The financial statements have been prepared in accordance with 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 I O?)) (issued in October 2019) (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK aTJd Republic of Ireland (FRS 102) and the Companies Act 2006. Basis of preparalion The Spark Arts for Children meets the definition of a publlc benefit entity, under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otheN'ise stated in the relevant accoLmting policy notes. Going concern The financial statements have been prepared on a going concern basis. The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements. Income and endowments Voluntary income including donations. gift5. legacies and grants that Provide core funding or are of a general nature is recognised when the charity has entitlement to the income. it is probable that the income will be received and the amount can be measured with sufficient reliability. Donations and legacies Donations are recognised when the charity has been notified in HTiting of both the aTnount and settlement date. In the event that a donation is subject to conditions that require a level of perforniance by the charity before the charity is entitled to the funds, the income is defeTred and not recognised until either those conditions are fully met, or the fulfilment of those condition5 15 wholly within the control of the charity and it IS Probable that these conditions will be fulfilled in the reporting period. Deferred income Deferred incotne represents amounts received for future periods and 15 released to incoming resources in the period for which. it has been received. Such income is only deferred when- The donor specifies that the grant or donation must only be used in future accounting periods. or The donor has imposed conditions which must be met before the charity has uncondilioTJal entitlement. Page 16
The Spark Arts for Children Notes to the Financial Statements for the Year Ended 31 March 2025 Inve51ment income Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. Expendilure All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregale similar costs to that calegory. Where costs cannot be directly attributed to particular headings they have been allocated on a basls conslslent with the use of resources, with central staff costs allocated on the basis of time spenl. and deprecialion charges allocated on the portloi) of the asset's use. Other support costs are allocated based on the spread of staff costs. Charilable activities Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated direcily to such activiiies and those costs of an indirect nature necessary to support them. Taxation The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter J Part I l of the Corporation Tax Act 2010 or Section ?56 of the Taxation of Chargeable Gains Act 1992. to the extent that such income or gains are applied exclusively to charitable purposes. Tangible fixed a55ets Individiial fixed assets Costing £500.00 or more are initially recorded at cost, less any Subsequent accumulated depreciation and subsequent accumulated impairtnent losse5. Depreciation and amortisation Depreciation is provided on tangible fixed assets so as to write off the cost OT valuation, le55 any estimated residual value. over their expected useful economic life as follows- Asset class Plant & machinery Computer equipment Depreciation method and rate 200/0 on cost 330/0 on c05t Trade debtors Trade debtors are amounts due from Custome for merchandise sold or services perfornied in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method. less provision for impainnenl. A proi'ision for the impainnent of trade debtors is estsblished when there is objective evidence that the charity will not be able to collect all amoLmts due according to the original tenns of the receivables. Page17
The Spark Arts for Children Notes to the Financial Statements for the Year Ended 31 March 2025 Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-tenn highly liquid investments that are readily convertible to a known amount of cash and are subject to an insilfICant risk of change in value. Trade credilors Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounls payable are classified as current liabilities if the charity does not have an unconditional right. at the end of the reporting period. to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Fund strueture Unrestricted income funds are general funds that are available for use at the tru5tees' discretion in furtherance of the objectives of the charity. Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trllstees. Restricted income funds are those grants for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. Pensions and other post retirement obligations The charity operates a defined Contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pa), further contributions even if the fund does not hold su1Clent assels to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution paymenls exceed the contribuiion due for service. the excess is recognised as a prepayment. 2 Income from donations and legacies Unrestricted fund5 General Total 2025 Total 2024 Donations and legacies. Donations from individuals Donations from community groups 380 188,507 587 176,047 188,507 188,887 188,887 176,6J4 Page18
The Spark Arts for Children Notes to the Financial Statements for the Year Ended 31 March 2025 3 Income from charitable activities Unrestricted funds General Restricted funds Totsl 202) Total 2024 Grants & donation5 Sponsorships Additional activitie5 Partner fees and reimbursement Sundry School sales & tickets 301,861 10,000 301,861 24,950 218,790 14,950 15,500 19,307 95 15,059 15,853 il 1,861 J49,664 268,751 4 Grants & donations Unrestricted funds Restricled funds Totsl Arts Council England Braunstone Children, Young People and Family Centre Inspire LCC Arts & Museums LCC Festival Grant 2024 LCC Small Wonders Leicester Neighbourhood Services Leicestershire County Council The National Foundation Paul Hamlyn Foundation Sundry donations 171,047 5,000 176,047 6,000 21,601 2,500 6,000 29,061 2,500 10,000 4,500 56,000 3,000 83,260 120,000 7,460 10,000 4,500 56,000 83,260 120,000 188,887 JOI,861 490,748 5 Inveslment income Unrestricted fund5 General Total 2025 Total 2024 Interest receivable and similar income; Interest receivable on bank deposits 2,054 2,054 1,619 2,054 2,054 1,619 Page 19
The Spark Arts for Children Notes to the Financial Statements for the Year Ended 31 March 2025 6 Expenditure on charitable activities Unrestricted funds General Restricted funds Totsl 202) Total 2024 Artistic/ Delivery Project Overhead Access & contingency Direct activity staff costs Freelance costs Wages, social security. pensions Rent and rates Travelling Audit & Accountancy Company development Office expenses Insurance Legal & Professional fees Consultancy & subscriptions Advertising & Promotion Earned income costs Access expenses Research & development Bank charges I.T & Computing Depreciation 26,811 6,057 85,935 3,446 3,684 1,120 11?746 9,503 3,684 1,372 21,892 187,686 11,159 529 2,172 2,900 1,517 ,571 2,571 ,364 10,401 180 ,800 164 199 608 1,940 108,759 27,097 3,282 252 18,703 210,098 10,409 3,178 3,406 5,462 3,946 1,294 48 11,809 15.731 180 46,668 11,159 529 2.172 2.900 1.517 .571 2.571 141,018 10,401 180 1.800 199 608 1,940 142 424 140,755 235,20J 375,958 432,173 7 Iyet incomingloutgoing resources Net incoming resources for the year include= 2025 2024 Depreciation of fLxed assets 1,940 Page 20
The Spark Arts for Children Notes to the Financial Statements for the Year Ended 31 March 2025 8 Staff costs The aggregate payroll costs were as follows: 2025 2024 Staff cosls during the year were: Wages and salaries Social security costs Pension costs Redundancy costs 167,665 10,148 187,8J9 4,425 6.106 187,686 210,098 The monthly average number of persons (including senior management fram) employed by the charity during the year was as follows.. 2025 2024 Average number of employees 6 (2024 - 1 J) of the above employees parlicipated in the Defined Contribution Pension Schemes. Contributions to the employee pension schemes for the year totalled £3,767 (2024 - £4,425). During the year, the charity made redundancy an(Vor terniination payments which totalled £6,106 (2024 - £Nil). No employee received emoluments of more than £60.000 during the year. The total employee benefits of the key management personnel of the charity were £92,197 (2024 - £120,543). Page21
The Spark Arts for Children Notes to the Financial Statements for the Year Ended 31 March 2025 9 Tangible fixed assets Computer equipment Plant & machinery Total Cost At l April 2024 15,400 5,502 20,902 At 31 March 2025 15,400 5.502 20,902 Depreciation At l April 2024 Charge for the year 5.502 18,121 1,940 1,940 At J l March 2025 14,559 5,502 20,061 Net book value At 31 March 2025 841 At 31 March 2024 2,781 2,781 10 Debtors 202) 2024 Trade debtors Prepayments 90 1,725 21,120 2,854 1,815 23,974 11 Cash and cash equivalents 2025 2024 Cash on hand Cash at bank iio 335,8?7 170 190,533 335,937 190,703 12 Creditor5: amount5 falling due within one year 2025 2024 Trade creditors Other taxation and social security Other creditors Accruals Deferred income 2.509 3.325 12,415 1,014 12,993 19,641 2.334 5,000 13,168 49,680 Page 22
The Spark Arts for Children Notes to the Financial Statements for the Year Ended 31 March 2025 13 Funds Balance at 31 Mareh 2025 Balance at April 2024 Incoming resources Resources expended Transfers Unrestricted funds Generol General 221,744 (140.755) ()O,000) 50,989 Designoled Contingency & Welfare 68,777 Total unrestricted funds 221,744 (140.755) 119,766 Restricted funds Schools Early Years Librarie5 71.852 137,500 152,760 21,601 (84,243) (193.424) (97,536) 125,109 78,089 2,461 Total restricted fund5 129,001 )11.861 (2)5,20)) 205,659 Total funds 167,778 533,605 (375.958) J25,425 The specific purposes for which the funds are to be applied are as follows: Schools Fund - Building Brave Spaces Funded by Paul Hamlyn Foundation this progrdm explores how perforniing arts pedagogy can improve children's voice and agency in both the classroom and across whole schools. Early Years Fund Music Champions is funded by Youth Music and partner organisations Leicestershire Music and Leicester City Council Early Help, to develop a lle. Early Years Music neN'ork= supporting musicians and early years practitioners; and promoting the role music plays in the development of children aged 04 years. This project will continue through to 2025. Library Fund The Spark has been commissioned by Inspire - Culture. Learning. Libraries, to progratntne m-.ork for children and families into other libraries in Nottinghamshire. The agreement is for a 3-year period up to 2026. General Fund5 The Spark is an Arts Council National Portfolio OaniSatiOn H'ith awarded ndIng for a 4-year period to 2027. Funding received supported core functions that contributed to the delivery of the variou5 Strands. Page 2)
The Spark Arts for Children Notes to the Financial Statements for the Year Ended 31 March 2025 Balance at 31 March 2024 Balance at I April 2023 Incoming resources Resourees expended Transfers Unrestricted fund5 General General 64.261 178.6J4 (238,836) (4,059) Designated Vital Spark- Artists Contingency & Welfare Festival (17,147) 16,704 (21,223) 8,578 60.000 38,777 14,616 (93,194) 60,000 15,059 (40,341) 4,059 38,777 Total unrestricted funds 124.?61 19).69J (279,177) Restricted Vital Spark- Artists Schools Early Years Libraries (J I,878} (40,409} (58,560} (2? 149) 19.761 92,500 107,JlJ 21,6?0 71,852 8,925 8,396 Tot21 restricted funds 28.686 253,311 (152.996) 129,001 Total funds 15?,947 447.004 (4)? 17)) 167,778 14 Analysis of net assets between funds Unrestricled 2025 Total funds General Designated Restricted Tangible fixed assets Current assets Current liabilities 841 57,816 (9.84J) 841 337,752 (lJ,168) 68,777 211,159 (),325) Total net assets 48,814 68.777 207,834 325,425 Unrestricted 2024 Total funds General Designated Restricled Tanuible fixed assets Current assets Current liabilities 2.781 46.899 (49,680) 2,781 214,677 (49,680) 38,777 129,001 Total net assets 129,001 167,778 Page 24
The Spark Arts for Children Notes to the Financial Statements for the Year Ended 31 March 2025 15 Fees payable to indepeTJdent examiner During the period. the fees payable (excluding VAT) to the charity's independent examiner Community Accounting Plus are analysed as follo.5= 2025 2024 Independent examination 1,380 1,380 16 Trustees remuneration and expenses No trustees, nor any persons connected with them. have received any remuneration from the charity during the year. 17 Related party transaetions There were no related paty transactions in the year. Page 25