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2022-08-31-accounts

House of Imagination

Charity No. 1122010

Company No. 06173241

Trustees' Report and Unaudited Accounts

31 August 2022

House of Imagination Contents

Pages
Trustees' Annual Report 2 to 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Accounts 10 to 16

Page 1

House of Imagination Trustees Annual Report

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 August 2022.

REFERENCE AND ADMINISTRATIVE DETAILS

Company No. 06173241

Charity No. 1122010

House of Imagination is now resident at The Studio, Palace Yard Mews Bath (Research Centre for Cultural and Creative Industries).

Registered Office

12 Tutton Hill Colerne Chippenham England SN14 8DN

Directors and Trustees

The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:

S.J. Akram-Haythornthwaite

N.R. Garrick M. Gorely E.M. Harker (Resigned 28 January 2022) N.D. Latham D.G. Laughlen K.J. Mason

Company Secretary

P.A. Hay

Accountants

Case Accounting Ltd 20 Goodwood Way Cepen Park South Chippenham Wiltshire SN14 0SY

Page 2

House of Imagination Trustees Annual Report

OBJECTIVES AND ACTIVITIES

House of Imagination (formerly 5x5x5=creativity) is an arts research charity that improves children's life chances by helping them to explore and express their ideas and develop creative skills for life. House of Imagination creates places and spaces to research, share and celebrate the power of imagination in children's lives. This is achieved through exceptional and exciting creative partnerships with artists, schools, cultural centres, higher education and creative industries. House of Imagination is a home for improvisation, creativity and innovation and a place to make those things visible to an international audience through research. Our ambition is that the benefits to society of investing in the development of children's creative thinking will be universally recognised.

The objects of the Charity are the advancement of education and in particular:

During 2020-21 we have continued to develop the Vision and Strategy for the House of Imagination, now an award-winning charity (Creative Bath, Action for Children's Arts) providing cultural and educational infrastructure to Bath, Bristol and the SW region. The charity continues to develop a national and international reputation, working alongside key academics, artists, cultural and creative partners and pioneers to provide stimulating events and creative sites for pedagogical innovation, with integrated professional development and evaluation.

The charity also directly supports a wider creative ecology through co-ordinating a number of key multisector and multi-partner networks, including Bath Cultural Education Partnership (BCEP), the South West Creative Education Network, RSA Bath and What Next? Chapter West. We continue to work with colleagues to deepen thinking, challenge perceptions and stimulate change. We are working to contribute to the international and critical debate about education in a social democracy, to build an educational culture and creative environments that can change lives. As an organisation, House of Imagination is committed to ensuring services are inclusive and meet the needs of all members of the community.

Public benefit

The Trustees confirm that they have complied with the duty in section 4 of the Charities Act 2006 to have due regard to public benefit guidance published by the Charity Commission. The public benefits of the work of House of Imagination include supporting creativity in the classroom, enhancing the learning and social skills of children and making teachers and schools more confident in developing to improve learning outcomes.

Page 3

House of Imagination Trustees Annual Report

ACHIEVEMENTS AND PERFORMANCE

House of Imagination is a research organisation with a focus on children's and young people's creative and critical thinking. In practice House of Imagination uses action research to plan and deliver innovative programmes that enable children to shape their lives through creative activity and schools to change their practices through professional development and school-based activity. At its heart is co-enquiry between children, teachers and creative professionals. House of Imagination is driven by a desire for change in both children's lives and in schools, focusing on an exploration of the possibilities that creativity offers. Children need more opportunities to develop their creativity and to experiment and teachers need more support to integrate these skills. Through research and dissemination House of Imagination provides evidence for change and helps to build a strong cultural ecology that in turn supports children, schools and creative professionals. Over this last year we have continued working closely with schools and early years settings both online and in person to develop and integrate a creative and reflective pedagogy with research at the heart of the process.

House of Imagination places children and young people at the heart of its work as co-creators, co-enquirers and co-learners. This creative collaborative learning approach helps develop critical thinking and communication skills. Crucially, it places value on the process of learning rather than pre-defined outcomes. HOI occupies a unique space within the creative and cultural learning sector that few can rival. The charity anchors its work within robust, academically underpinned research married to live case-studies and dynamic cross-sector partnerships. Programmed activities develop directly from this nexus responding to findings, need and lines of enquiry. This positioning enables it to operate fluidly without boundaries across local, regional and international spheres, attracting artists and creative talent from the UK and overseas. The charity's expertise in Creative Pedagogy is well documented and established over 20 years, with its credibility and rigor mirrored in an array of successful collaborations.

Activities of the Charity: Highlights of our research activity

Forest of Imagination: a long term research project focusing on the importance of nature and imagination School Without Walls: professional development with teachers and cultural professionals Bath Cultural Education Partnership: partnership working with local creative and cultural centres South West Creative Education Network: professional development for educators and creative partners

FINANCIAL REVIEW

Reserves policy

It is the policy of the charity to have three months of operating costs in reserves. This has been achieved.

Financial review

The environment for fund raising continues to be challenging with many competing interests facing potential donors. It is thus pleasing to note the small increase in unrestricted funds achieved during the year. We continue to invest in the quality of our work and thereby to increase its impact on the participants in our research in the South West and also on policy and practice further afield. The Board of Trustees is focussed on developing a more strategic approach to fund raising to enable the future development of the Charity and its important work.

Page 4

House of Imagination Trustees Annual Report

PLANS FOR FUTURE PERIODS

We continue to refine our strategy with the intention of focusing on the central aspects of our charitable work.

Our aims over the next three years are:

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

House of Imagination (formerly 5x5x5=creativity) is a registered charity and a company limited by guarantee, as defined by the Companies Act 2006. It was registered in 2007 and is governed by a Memorandum and Articles of Association. These were modified in October 2010. 5x5x5=creativity was renamed House of Imagination in August 2019.

Organisational structure

The charity is governed by a Board of Trustees which meets at least four times a year and more often if necessary. There are currently no permanent sub committees of the Board. The Trustees regularly assess the skills and experience needed on the Board and identify potential candidates to meet those needs. New Trustees can be elected at any time of year and if so, can be confirmed in post at the subsequent AGM. The charity has the support and guidance of seven patrons with a wealth of experience as education or arts professionals.

During this year, there was one part-time employee, the Director of Research (Dr Penny Hay), supported by a part-time freelance Finance Officer (Kim Bundy appointed in 2019; due to ill health was replaced by Emma Endicott, appointed January 2021). Filmmaker Weronika Dwronik was appointed as a part-time freelance Creative Producer in January 2021. House of Imagination is now resident at The Studio, Palace Yard Mews Bath (Research Centre for Cultural and Creative Industries).

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

Over the course of the last nineteen years we have established strong and mutually beneficial partnerships with:

Page 5

House of Imagination Trustees Annual Report

During the year we have continued to develop our partnerships with the creative business sector.

The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

Signed on behalf of the board

N.D. Latham Trustee 21 November 2022

Page 6

House of Imagination Independent Examiners Report

Independent Examiner's Report to the trustees of House of Imagination

I report to the charity trustees on my examination of the financial statements of House of Imagination for the year ended 31 August 2022 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet and the related notes.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities 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 statement

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

T R Case

Institute of Chartered Accountants in England & Wales Case Accounting Ltd 20 Goodwood Way Cepen Park South Chippenham Wiltshire SN14 0SY 21 November 2022

Page 7

House of Imagination Statement of Financial Activities

for the year ended 31 August 2022

Notes
Income and endowments
from:
Donations and legacies
4
Charitable activities
5
Other trading activities
6
Total
Expenditure on:
Charitable activities
7
Other
8
Total
Net gains on investments
Net expenditure
Transfers between funds
Net expenditure before other
gains/(losses)
Other gains and losses
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
2022
£
11,895
-
2,048		 Restricted
funds
2022
£
53,140
-
-		 Total funds
2022
£
65,035
-
2,048		 Total funds
2021
£
62,759
2,500
3,353
13,943
-
8,595		 53,140
62,402
660		 67,083
62,402
9,255		 68,612
73,766
11,573
8,595
-		 63,062
-		 71,657
-		 85,339
-
5,348
-		 (9,922)
-		 (4,574)
-		 (16,727)
-
5,348 (9,922) (4,574) (16,727)
5,348
22,693		 (9,922)
13,268		 (4,574)
35,961		 (16,727)
52,688
28,041 3,346 31,387 35,961

Page 8

House of Imagination Balance Sheet

at 31 August 2022

Company No.
06173241
Notes
2022
£
Fixed assets
Tangible assets
10
-
Current assets
Debtors
11
10,000
Cash at bank and in hand
22,528
32,528
Creditors:Amount falling due within one year
12
(1,141)
Net current assets
31,387
Total assets less current liabilities
31,387
Net assets excluding pension asset or liability
31,387
Total net assets
31,387
The funds of the charity
Restricted funds
Restricted income funds
13
3,346
Unrestricted funds
13
3,346
General funds
28,041
28,041
Reserves
13
Total funds
31,387		 2021
£
-
400
36,413
36,813
(852)
35,961
35,961
35,961
35,961
13,268
13,268
22,693
22,693
35,961

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 31 August 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the board on 21 November 2022

And signed on its behalf by:

N.D. Latham

Trustee 21 November 2022

Page 9

House of Imagination Notes to the Accounts

for the year ended 31 August 2022

1 Accounting policies

Basis of preparation

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 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.

Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs. Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs. Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Page 10

House of Imagination Notes to the Accounts

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Computer equipment

25% Straight line

Trade and other 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.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other 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.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital. None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Page 11

House of Imagination

Notes to the Accounts

3 Statement of Financial Activities - prior year

3
Statement of Financial Activities - prior year
Income and endowments from:
Donations and legacies
Charitable activities
Other trading activities
Total
Expenditure on:
Charitable activities
Total
Net income
Net income before other
gains/(losses)
Other gains and losses:
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
4 Income from donations and legacies
Donations
Donations returned to
donator
5 Income from charitable activities
Grants received		 Unrestricted
£
13,440
(1,545)
11,895		 Unrestricted
funds
2021
£
649
2,500
2,952
6,101
22,729
22,729
(16,628)
(16,628)
(16,628)
39,321
22,693
Restricted
£
53,140
-
53,140		 Restricted
funds
2021
£
62,110
-
401
62,511
62,610
62,610
(99)
(99)
(99)
13,367
13,268
Total
2022
£
66,580
(1,545)
65,035
Total
2022
£
-
-		 Total funds
2021
£
62,759
2,500
3,353
68,612
85,339
85,339
(16,727)
(16,727)
(16,727)
52,688
35,961
Total
2021
£
62,759
-
62,759
Total
2021
£
2,500
2,500

Page 12

House of Imagination Notes to the Accounts

6 Income from other trading activities

Provision of training
7 Expenditure on charitable activities
Expenditure on charitable
activities
Art projects and creative
development
8 Other expenditure
Other expenditure
Independent examiners fee & accountancy		 Unrestricted
£
7,603
992
8,595		 Unrestricted
£
2,048
2,048
Restricted
£
62,402
62,402
Restricted
£
660
-
660		 Total
2022
£
2,048
2,048
Total
2022
£
62,402
62,402
Total
2022
£
8,263
992
9,255		 Total
2021
£
3,353
3,353
Total
2021
£
73,766
73,766
Total
2021
£
10,494
864
11,358

9 Staff costs

No employee received emoluments in excess of £60,000.

The average monthly number of full time equivalent employees during the year was as follows:

Director of research 2022
Number
1
1		 2021
Number
1
1

Page 13

House of Imagination Notes to the Accounts

10 Tangible fixed assets

Cost or revaluation
At 1 September 2021
At 31 August 2022
Depreciation and
impairment
At 1 September 2021
At 31 August 2022
Net book values
At 31 August 2022
At 31 August 2021
11 Debtors
Trade debtors
12 Creditors:
amounts falling due within one year
Trade creditors
Other taxes and social security
Accruals		 2022
£
10,000
10,000
2022
£
15
(21)
1,147
1,141		 Computer
equipment
£
854
854
854
854
-
-		 Total
£
854

854
854

854
-
-
2021
£
400
400
2021
£
-
-
852
852

Page 14

House of Imagination Notes to the Accounts

13 Movement in funds

Restricted funds:
Restricted income funds:
Forest of Imagination
Trailblazers
Re-imagining Libraries
Meadow Arts
Studio Recovery Fund
Interstice methodological
guide
Total
Unrestricted funds:
General funds
Total funds		 At 1
September
2021
11,093
2,375
(200)
-
-
-
13,268
22,693
35,961		 Incoming
resources
(including
other
gains/losses
)
£
23,738
2,500
2,310
2,750
4,500
17,342
53,140
13,943
67,083		 Resources
expended
£
(33,660)
(3,375)
(2,110)
(2,750)
(3,825)
(17,342)
(63,062)
(8,595)
(71,657)		 At 31
August
2022
£
1,171
1,500
-
-
675
-
3,346
28,041
31,387

Purposes and restrictions in relation to the funds: Restricted funds:

Forest of Imagination Forest of Imagination is a pop-up multi-disciplinary arts event featuring world-class architects, designers and artists.

Trailblazers Commission for Rabbit Holes Collective with BBC Creative R&D and Bristol and Bath Creative R&D to design bespoke adaptive podcasts for young people to connect with the natural world.

Re-imagining Libraries

Bid for a multidisciplinary space/ series of talks in collaboration with Bath Spa University, University of Bath, Bath College and Bath Library.

Meadow Arts ‘Thinking Differently’ Two year research with teachers and artists working with children with special needs.

Studio Recovery Fund

Mapping imagination: 6 month project designing a digital visual map of the creative and cultural ecology of Bath.

Interstice methodological A European research project funded by Erasmus+ that focuses on guide encounters between children art and artists, to support initial and developing professional education.

14 Analysis of net assets between funds

Net current assets Unrestricted
funds
£
28,041
28,041		 Restricted
funds
£
3,346
3,346		 Total
£
31,387
31,387

Page 15

House of Imagination Notes to the Accounts

15 Related party disclosures

Douglas Laughlen (trustee) donated £500 to a Crowdfunding scheme in support of the charity. The charity reimbursed the individual £500.

Andrew Smith, the partner of the Company Secretary, donated £770 to a Crowdfunding scheme in support of the charity. The charity reimbursed the individual £770.

Neil Latham (trustee) donated £350 to a Crowdfunding scheme in support of the charity. The charity reimbursed the individual £275.

The charity did not reclaim any gift-aid in respect of these donations.

The donations were made in order to achieve success for the Crowdfunding initiative.

Controlling party

The company is limited by guarantee and has no share capital; thus no single party controls the company.

Page 16