2023-08-31-accounts - House of Imagination

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House of Imagination

Charity No. 1122010

Company No. 06173241

Trustees' Report and Unaudited Accounts

31 August 2023

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	15

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 2023.

REFERENCE AND ADMINISTRATIVE DETAILS

Company No. 06173241

Charity No. 1122010

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 (Resigned 15 May 2023) M. Gorely N.D. Latham D.G. Laughlen (Resigned 31 August 2023) 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:

working in partnership with educators and artists, and with museums, galleries, theatres and other artistic and cultural settings to support children in their exploration, communication and expression of creative ideas;
producing and disseminating research and guidance on creative values, relationships, dispositions and environments in order to help develop children as confident, creative thinkers; and
providing integrated training and mentoring for educators, artists and cultural centres.

During 2022-23 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, Thornton Education Trust) 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. 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.

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. 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, national, 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 Assemble in the Forest 2023 attracted 11,000 visitors over a month, including a creative learning programme for schools and families, and a series of events in collaboration with the RSA

Cultural Partnership with Bath Spa University including collaborative events and funding support

Partnership with Institute of Imagination and Bath Spa University including collaborative events and research

Over many years, we have continued to establish strong and mutually beneficial partnerships with local Councils, Universities, educational and cultural partners. During the year we have continued to develop our partnerships with the creative business sector.

FINANCIAL REVIEW

Reserves policy

It is the policy of the charity to have three months of operating costs in reserves.

Financial review

The environment for fund raising continues to be challenging with many competing interests facing potential donors. 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 focused on developing a more strategic approach to fundraising to enable the future development of the Charity and its important work.

This year, the charity’s income is considerably higher due to the increased activity on the Forest of Imagination project flowing through House of Imagination.

Page 4

House of Imagination Trustees Annual Report

PLANS FOR FUTURE PERIODS

House of Imagination is going through a period of change, which brings both opportunities and risks.

The Director of Research, Professor Penny Hay, is leaving to focus more on her research activities at Bath Spa University, and Dr Chris Bagley has been appointed to the new role of Executive Director. Close working between HoI and BSU will be maintained to ensure that synergies between research and its application to the work of House of Imagination continue to be developed and used effectively.

Routine changes in Board membership are also planned, to bring refreshed leadership to the organisation as it begins a new phase in its existence under Dr Bagley’s direction.

A key ambition is to expand the reach of key projects such as Forest of Imagination to other geographic locations and populations. Two such arrangements are under active discussion but have not yet been confirmed. These are both substantial initiatives which would provide a secure income stream and thus also a substantial amount of work for the charity. At the same time, such concentration of effort brings risks by limiting opportunities for other work, as well as being reliant on projects which are not yet confirmed.

More generally, our aims over the next two to four years are to:

reach and support a wider population of young people in exploring and expressing their ideas and developing creative skills for life through appropriate events for both children and teachers.
establish HoI as a thought leader in national and international dialogue about creative education in order to promote sustainable social and economic development.
build relationships with other organisations to enhance research opportunities that augment the first two aims.
seek longer term funding to ensure steady growth and long term organisational sustainability.

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 Finance Officer (Emma Endicott, appointed January 2021). Elisha Westmore was appointed as a part-time freelance Creative Producer (Graduate Intern supported by Bath Spa University) in September 2022. House of Imagination is now resident at The Studio, Palace Yard Mews Bath (Research Centre for Cultural and Creative Industries, Bath Spa University).

Page 5

House of Imagination Trustees Annual Report

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.

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 03 October 2023

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 2023.

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 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:

accounting records were not kept in accordance with section 386 of the 2006 Act ; or
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or
the financial statements 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 attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

T R Case FCA (Institute of Chartered Accountants in England & Wales) Case Accounting Ltd 20 Goodwood Way Cepen Park South Chippenham Wiltshire SN14 0SY 03 October 2023

Page 7

House of Imagination Summary Income and Expenditure Account

for the year ended 31 August 2023

Unrestricted funds 2023 £ 16,765 2,781	2023 £ Restricted funds 2023 £ 111,566 -	Total funds 2023 £ 128,331 2,781	2022 £ Total funds 2022 £ 65,035 2,048
19,546 24,698 10,296	111,566 114,912 -	131,112 139,610 10,296	67,083 62,402 9,255
34,994 -	114,912 -	149,906 -	71,657 -
(15,448) -	(3,346) -	(18,794) -	(4,574) -
(15,448)	(3,346)	(18,794)	(4,574)
(15,448) 28,041	(3,346) 3,346	(18,794) 31,387	(4,574) 35,961
12,593	-	12,593	31,387

Page 8

House of Imagination Balance Sheet

at 31 August 2023

Company No. 06173241	Notes	2023	2022
		£	£
Fixed assets
Tangible assets	9	-	-
Current assets
Debtors	10	3,350	10,000
Cash at bank and in hand		21,826	22,528
		25,176	32,528
Creditors:Amount falling due within one year	11	(12,583)	(1,141)
Net current assets		12,593	31,387
Total assets less current liabilities		12,593	31,387
Creditors:Amounts falling due after more than one year	12	-	-
Net assets excluding pension asset or liability		12,593	31,387
Total net assets		12,593	31,387
The funds of the charity
Restricted funds	13
Restricted income funds		-	3,346
		-	3,346
Unrestricted funds	13
General funds		12,593	28,041
		12,593	28,041
Total funds		12,593	31,387

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 2023 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 03 October 2023

And signed on its behalf by:

Nate,— N.D. Latham Trustee

03 October 2023

Page 9

House of Imagination Notes to the Accounts

for the year ended 31 August 2023

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.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

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.

Page 10

House of Imagination Notes to the Accounts

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.

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.

Page 11

House of Imagination Notes to the Accounts

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.

3 Statement of Financial Activities - prior year

		Unrestricted	Restricted
		funds	funds	Total funds
		2022	2022	2022
		£	£	£
Income and endowments from:
Donations and legacies		11,895	53,140	65,035
Other trading activities		2,048	-	2,048
Total		13,943	53,140	67,083
Expenditure on:
Charitable activities		-	62,402	62,402
Other		8,595	660	9,255
Total		8,595	63,062	71,657
Net income		5,348	(9,922)	(4,574)
Net income before other gains/(losses)		5,348	(9,922)	(4,574)
Other gains and losses:
Net movement in funds		5,348	(9,922)	(4,574)
Reconciliation of funds:
Total funds brought forward		22,693	13,268	35,961
Total funds carried forward		28,041	3,346	31,387
4 Income from donations and legacies
	Unrestricted	Restricted	Total	Total
			2023	2022
	£	£	£	£
Donations	16,765	111,566	128,331	66,580
Donations returned to donator	-	-	-	(1,545)
	16,765	111,566	128,331	65,035

Page 12

House of Imagination Notes to the Accounts

5 Income from other trading activities

5	Income from other trading activities
				Unrestricted	Total	Total
					2023	2022
				£	£	£
	Provision of training			2,781	2,781	2,048
				2,781	2,781	2,048
6	Expenditure on charitable activities
		Unrestricted		Restricted	Total	Total
					2023	2022
			£	£	£	£
	Expenditure on charitable
	activities
	Art projects and creative development	24,698		114,912	139,610	62,402
		24,698		114,912	139,610	62,402
7	Other expenditure
				Unrestricted	Total	Total
					2023	2022
	Other expenditure			£	£	£
	Legal and professional costs			9,392	9,392	8,263
				904	904	992
8	Staff costs			10,296	10,296	9,255
	No employee received emoluments in excess of £60,000.
	The average monthly number of full time equivalent employees during the year				was as follows:
				2023		2022
				Number		Number
	Director of research			1		1
				1		1

Page 13

House of Imagination Notes to the Accounts

9 Tangible fixed assets

Cost or revaluation At 1 September 2022 At 31 August 2023 Depreciation and impairment At 1 September 2022 At 31 August 2023 Net book values At 31 August 2023 At 31 August 2022 10Debtors Trade debtors 11Creditors: amounts falling due within one year Other loans Trade creditors Other taxes and social security Accruals		2023 £ 3,350 3,350 2023 £ 10,000 1,464 219 900 12,583		Computer equipment £ 854 854 854 854 - -		Total £ 854
						854
						854
						854
						-
						-
						2022 £ 10,000
						10,000
						2022 £ - 15 (21) 1,147
						1,141

The other loan is from an anonymous lender. The loan is unsecured, interest free and repayable over six months. Due diligence checks in line with the Charity Commission guidance were successfully completed by the trustees.

Page 14

House of Imagination Detailed Statement of Financial Activities

12 Movement in funds

Movement in funds
Restricted funds: Restricted income funds: Forest of Imagination Trailblazers The Great Imagining Studio Recovery Fund The American Museum in Britain Total Unrestricted funds: General funds Total funds	At 1 September 2022 1,171 1,500 - 675 - 3,346 28,041 31,387	Incoming resources (including other gains/losses ) £ 105,391 375 4,000 - 1,800 111,566 19,546 131,112	Resources expended £ (106,562) (1,875) (4,000) (675) (1,800) (114,912) (34,994) (149,906)	At 31 August 2023 £ - - - - -
				-
				12,593
				12,593

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.

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

Page 15