2024-03-31-accounts

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator. This document is also available as Markdown.

Trustees’ Annual Report and Financial Statements

~~A New Direction London Ltd~~ xy , | s « * ~~7~~ ~~Trustees’ Annual ,~~ ~~Report and a~~ . ~~Financial Statements~~

1st April 2023 – 31 March 2024

A New Direction is a Company Limited by Registered Company number 06627531 Guarantee and not having a Share Capital Registered Charity number 1126216

Trustees’ Annual Report and Financial Statements

Registered company name

A New Direction London Ltd.

Registered company number 06627531

Registered charity number 1126216

A New Direction is a Company Limited by Guarantee and not having a Share Capital

Registered office

A New Direction Good Growth Hub, Unit 1-28, Echo Building East Bay Lane London E15 2SJ

Incorporation date

Trustees

Arfa Butt Chair

Guy Mansfield (Resigned as Treasurer 14th December 2023)

Eylan Ezekiel (Resigned 14th December 2023)

Charlotte Louise Hillenbrand (Resigned 14th December 2023)

Nick Goss (Resigned 26th June 2023)

Asma Hussain

Shamik Chakraborty (Appointed as Treasurer 14th December 2023)

Andrew Marcus

Executive Leadership Team

Steve Moffitt Chief Executive & Company Secretary

Rebecca Branch Director of Education and Culture

Oliver Benjamin Director of Employment & Skills

Taleebah Sankofa Director of Finance

Niharika Jain Director of Marketing & Development

23rd June 2008

Carey Robinson

Company Secretary Steve Moffitt

Bankers

The Cooperative Bank 1 Balloon Street Manchester M60 4EP

Statutory auditors

Moore Kingston Smith LLP Orbital House 20 Eastern Road Romford Essex RM1 3PJ

Lesley Owusu

Errol Comrie (Appointed 29th April 2024)

Shereen Hunte (Appointed 29th April 2024)

Will Worsdell (Appointed 29th April 2024)

Lubna Malik (Appointed 23rd July 2024)

Paul Jackson (Appointed 23rd July 2024)

Trustees’ Annual Report and Financial Statements

Chair and Chief Executive’s foreword	4
Trustees’ Annual Report	7
Achievements & performance	10
Strategic development	19
Financial review	20
Independent auditor’s report to the
members of A New Direction	23
Statements	27

Trustees’ Annual Report and Financial Statements

Chair and Chief Executive’s foreword

~~There is much we need to celebrate and recognise as achievements over the last 12 months~~

Our Chair has been reflecting on their role with A New Direction over the past two years. Arfa joined at a time when the organisation was going through a transformation, and it was important that the Board was on this journey of growth and innovation with the team, our partners and young people. We have expanded and contracted, faltered and flown, but never lost our purpose. We have never stopped learning or growing.

The 2023-24 financial year has been a challenging year, possibly the most difficult financial year A New Direction has experienced to date. The key challenge for the organisation has been a significant reduction in funding from several key funders. This is in no way a reflection on the quality and relevance of the organisation’s work but more a sign of the times, a change in funding agreements and a shift in priorities, alongside the impact of the cost-of-living crisis and the effect of the economic downturn across the charity sector and wider creative economy.

Reduced funding from Arts Council England as we transitioned from the Children and Young People’s Sector Support Organisation (Bridge) to a National Portfolio Organisation (NPO) and tapered funding from the London Legacy Development Corporation (LLDC) had the biggest impact. This was alongside the closure of two multi-year grants from the Mayor’s Fund for London for the Creativity Works programme and the Trust for London for Moving on Up programme. Although we had planned for this change, we had to reduce our staffing and core costs and restructure the team in the autumn of 2023.

The principle aim of the restructure was for the organisation to decrease our staffing and core costs and reduce spend on project and programme

delivery in line with reduced income for the 24/25 financial year. A further objective of this process was to create a structure that enabled the organisation to be fit for purpose to deliver the commitments we have made to our funders, trustees and stakeholders and prepare for growth in the future.

The new structure involves five smaller teams: Education and Culture; Employment and Skills; People, Operations and Governance; Marketing and Development and Finance. Although challenging as a process, the restructure involved 6 redundancies (voluntary and statutory) across all levels of the team. The new structure is now in place and working effectively.

Having secured Arts Council England Portfolio Organisation status in 2022, this last 12 months has been focussed on the organisation inhabiting its new role and exploring the new freedoms NPO status offers. We have been getting to grips with understanding what the possibility of this new status offers the organisation. We are extremely grateful to Arts Council England for this opportunity. In preparation for what we knew would be a difficult financial year we vacated our office premises in Worship Street in EC1 in March 2023. This saved a significant amount of core costs and is a temporary measure. The team are now successfully working in a hybrid way part from home and part from the Good Growth Hub (GGH). We plan to find a new home for the organisation in the next 18 months.

2023-24 was a year of significant transition. As part of our new NPO status we have integrated key elements of our Employment and Skills work, maintained our offer to the Cultural Sector, and continue to grow our Teaching for Creativity Programme, our work with Deaf, disabled, and neurodiverse children

Trustees’ Annual Report and Financial Statements

and young people, and have increased our capacity around how we undertake evaluation and measure impact of our work. There were several ongoing pieces of work that needed to be completed as part of this year, which included: summer term support to the Artsmark programme across the capital, additional support to Cultural Education Partnerships across the city, support to Virtual Schools with Artsmark engagement and A New Direction completing and finalising the Transforming Leadership Evaluation report (an ACE commissioned contract that was extended and delayed because of the Covid-19 pandemic).

A key achievement over the last year was the development of a strategic plan for 2024-25 with a 3-year milestone plan. This is now in place and the team, and trustees have a new sense of purpose and direction of travel. There is much we need to celebrate and recognise as achievements over the last 12 months.

We continue to successfully operate and manage the Good Growth Hub for the London Legacy Development Corporation. The Good Growth Hub is a place for young people (aged 18-30) based in East London to access training, experience, and employment opportunities in the cultural, creative, and digital technology sectors with employers based in and around the Queen Elizabeth Olympic Park. Our work widens access to these opportunities to those living in the community and supports businesses to prosper thanks to the capability and ambition of local people.

Recent new research from the Policy and Evidence Centre (PEC), including (for the first time) census data, has been used to provide an in-depth map of the arts, culture and heritage workforce across England, Wales and Northern Ireland, enabling every Local Authority to see the number of these workers – from artists and actors to museum workers and musicians – based in their area. Dr Mark Taylor, lead author of the report summarises: ‘Overall… the picture is one of sustained inequality in both workforce and audience diversity across arts, culture and heritage.’

https://pec.ac.uk/news_entries/ press-release-new-researchaudiences-and-workforce-acrossarts-culture-and-heritage/

Our experience of creating pathways for young Londoners over the past decade and more very much tells us that young people who come from low-income backgrounds and those with protected characteristics can find it very difficult to gain meaningful and sustained work in the sector. This being the state of play, our young people and employer engagement offer has increased significantly over the last year and new developments include the realisation of Non-Linear, Tuskar and Fremantle Mentoring Programme and continued successful work with the East Bank partners and the Royal Docks programme. We are grateful for the support of our Employment and Skills funders including LLDC, New Talent Future Leaders, Foundation for Future London and Stratford Westfield, the Royal Docks, the Trust for London, Mayor’s Fund for London, Mayor of London’s Skills for Life, LIFT and Barking and Dagenham College.

‘I can honestly say I don’t think I’d be where I am today without this programme. I would do it all over again if I had the chance – a life changing experience.’

Anjani, A New Direction, Digital Skills Bootcamp, currently at ustwo as junior product designer.

Key successes also included significant engagement and participation in our Cultural Sector Learning Programme with a series of Masterclasses and the Space for Change programme alongside the return of the I Am Festival hosted at the National Theatre, Sadler’s Wells, Kensington Palace and Tate Modern. Both programmes have seen increased participation since the Covid-19 pandemic. We are extremely grateful for the donation of £45k from Andria Zafirakou and the Artists in Residence charity to support the I Am Festival for 2024-25.

We ended the 2022/23 financial year with the launch of the Arts in Schools report, a refresh and rearticulation of the 1982 Report by the Calouste Gulbenkian Foundation that articulates the firm

Trustees’ Annual Report and Financial Statements

~~A New Direction believes that children and young people who participate in these opportunities are happier, healthier, and more active in society.~~

belief that children and young people who participate in arts and culture and are given the opportunities to develop their own creativity do better in school and have better life chances. This report has significantly influenced how we think and wish to develop our work with schools in the future.

A New Direction believes that children and young people who participate in these opportunities are happier, healthier, and more active in society. Things are not what they were as highlighted in the recent Cultural Learning Alliance’s Report Card – culturallearningalliance. org.uk. The last 15 years have seen a significant decline in the arts, cultural and creative offer to schools in England. Despite decades of investment, too many children and young people miss out on the joy and learning opportunities that engaging in arts, culture and a creative education brings. The situation is worse than it has ever been. In 2024, the status and provision of arts subjects in schools in England continues to decline and the participation gap between the richest and poorest is widening. Responding to the findings of the report, we have designed a new programme called Primary Arts which we believe will address many of the recommendations of the Arts in Schools report. Since 2022 we have been working in partnership with colleagues at the City of London Grants team to develop this new programme and in June 2023, we secured £650k from the City Educational Trust Fund to test and pilot a new model of cultural engagement for Primary Schools across London. In April 2024 the City of London Education Committee agreed to invest in the roll out of the programme for the next three and half years which is a significant achievement for A New Direction but also a fantastic opportunity for the children of London.

members and resigned during 2022/3. These include Nick Goss, Charlotte Hillenbrand and Eylan Ezekiel.

It has been a tough but productive year. We have created some fantastic work and we are extremely grateful to the team for their ongoing commitment to the organisation and their sheer hard work. Next year already promises to be exciting with new opportunities around the future of the Good Growth Hub, the roll out of the Primary Arts programme and the 10th anniversary of the I Am Festival.

We would like to establish A New Direction as thought leaders and pioneers in the creative learning sector at all levels, our objective is to have a charitable heart and a commercial brain and blend both in our decision-making process. But for us the biggest measure of success of our work is community impact – driven by our mission to unleash the creative potential of young people.

Arfa Butt (Chair)

Steve Moffitt (CEO)

Alongside public delivery we developed a new Theory of Change and evaluation framework. We also established a new impact and insight committee with the board. We introduced a new finance system called FocalPoint which integrates into Access Dimensions and includes Workspace Analytics. We have also recruited a dynamic group of five new trustees from a range of sectors. We would like to thank trustees who reached their six-year tenure as Board

Trustees’ Annual Report and Financial Statements

Trustees’ Annual Report

~~We are an incubator of ideas and change~~

The trustees, who are the Directors of the charitable company for Companies Act purposes, present their annual report and review along with the Audited Financial Statements of the charity for the year ended 31 March 2024. In this report they are referred to as the Trustees or, collectively, as ‘the Board’.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).

Structure, governance and management

A New Direction London Limited (AND) is a company limited by guarantee, incorporated on 23 June 2008 and registered in England and Wales, and governed by a Memorandum and Articles of Association. Members of the company are liable to contribute a sum not exceeding £1 in the event of the company being wound up and there being insufficient funds to meet its financial obligations. The company obtained charitable status on 8th October 2008.

Recruitment and appointment of trustees

New trustees are appointed by a resolution of the existing trustees. Each trustee shall hold office for an initial term of three years, renewable by reappointment for a further term of three years. A trustee who has served for two consecutive terms of office (six consecutive years) must take a break from office and may not be reappointed.

Non-elected trustees are appointed through the submission of an Expression of Interest agreed by a Nominations Committee comprising the Chair, and two

other members of the Board. Such trustees serve for a period of three years after which they may offer themselves for reelection. When appointed, trustees receive an induction pack and an invitation to meet the Chief Executive Officer, Executive Team, and staff. The Board of Trustees meets four times a year and participates in one annual Away Day with the Executive Team. Trustees have delegated financial oversight to a Finance Subcommittee, which meets three times a year, and receive regular updates on the charity’s financial position. AII decisions of the Finance Subcommittee go to the Board for ratification at the succeeding meeting of the Board of Trustees. The members of the Board are also directors under the terms of the Companies Act. Trustees have no beneficial interest in the activities of the charity unless otherwise undisclosed.

The charity has trustees’ indemnity insurance for the benefit of its trustees. Day-to-day management of AND is vested in a core management team under the leadership of Steve Moffitt, Chief Executive Officer.

Our purpose and activities

A New Direction is a not-for-profit organisation that exists to ensure that all children and young people in London can develop their creativity and play an active role in the culture and heritage of the city. We are an incubator of ideas and change. Whilst our focus is on London, we work with partners across the country and internationally, and are keen for our work to have an impact beyond the boundaries of the capital; primarily aiming to:

create system-wide change. This means working with partners to ensure that the infrastructure that supports children and young people, including schools, nurseries, the cultural sector and local authorities, takes account

Trustees’ Annual Report and Financial Statements

of their need to play, be creative and experience culture;

identify areas of inequality, campaign for policy change where that is a barrier, work with key stakeholders and other influencers, and train and support professionals who work with children and young people, as well as attracting new funding and investment to realise innovative ideas and give young people new ways to engage and connect with the culture of their city;
design and deliver programmes that enhance children and young people’s capacity to be creative and to get work in the creative sector. We focus on this where we see there is a need and a good fit with our skills and experience, and we are always keen to share our learning with others and ensure our work benefits the wider sector as well as our long-term vision.

Charitable objectives

The objects of the charity as stated in its Memorandum and Articles of Association are:

Vision and Mission

~~Our vision is for a world where all children and young people achieve their creative potential.~~

~~Our mission is to enhance the capacity and agency of children and young people in London to own their creativity, shape culture, and achieve their creative potential.~~

We do this by working with a diverse range of partners, making connections, sharing practice, influencing change, improving the ecology that surrounds children and young people, and by providing real and transformative opportunities – from childhood, through school years and into employment.

Public benefit

‘the advancement of education in particular (without prejudice to the generality) by promoting, improving and developing creative learning and access to creative and cultural resources in schools and communities, local authorities and other organisations supporting or providing education in the UK or elsewhere’.

The trustees confirm that they have complied with the duty in Section 17 of the Charities Act 2011 to have regard to the Charity Commission’s general guidance on public benefit, ‘Charities and Public Benefit’. We have referred to the guidance when reviewing our aims and objectives and in planning our future activities.

The Memorandum and Articles were revised and formally adopted on 4[th] December 2013 by the trustees.

Trustees’ Annual Report and Financial Statements

Values

~~Our values are embedded in how we work with young people, partners, funders and as a team. They are:~~

Equity

we believe in the talents and potential of all children and young people and demand a fair and level playing field. We challenge the structural and systemic inequalities that influence children and young people’s lives and opportunities and prioritise those that experience these. We are committed to an inclusive working culture, where everyone who works for or with us is treated with dignity and respect. We have high expectations of those we work with to share this value and will not shy away from challenging discussions where needed.

Connectivity

we connect ideas, ways of working, and communities of people active in our spheres. By bringing people together, we can learn and move forward collectively; amplifying our voice and those of the children and young people we serve. We can share and challenge our thinking and approaches, identify and address gaps, pool our resources, design, and deliver new and exciting opportunities, increasing our collective impact.

Trust and Respect

we listen to and respect the voices and views of all children and young people, our colleagues, partners, and stakeholders, and in turn aim to earn their trust in us as a respected source of expertise and support. The trust that develops between us is our most valued asset and translates into strong, successful partnerships and genuine collaboration.

Creative Culture

we think creatively and value creativity within our team: it is an important element of what we do. Our creative culture enables us to dream and plan big, to connect in new ways, to innovate, and to create meaningful opportunities for children and young people. We believe that a creative culture at the heart of any school, place, organisation, or business can promote happiness and success, and the right conditions for children and young people to reach their potential.

We are passionate about unlocking and sharing children and young people’s own concept of ‘creative culture’ and exploring where individual creativity and collective culture converge.

Kindness

we act with kindness and generosity, understanding the challenges that children and young people in London are facing, and the pressures experienced by colleagues, stakeholders, and partners in all areas of our work. Being present, listening and understanding the needs of those we work with is vital for us to be effective in what we do. We are open and supportive and aim to be a positive and welcoming organisation to all.

Trustees’ Annual Report and Financial Statements

~~Achievements & performance~~

Trustees’ Annual Report and Financial Statements

Education culture and place

I AM Festival:

A programme of work focused on celebrating and empowering Deaf, disabled and neurodivergent young people’s creativity through supporting teachers, delivering a work experience programme, advocating for a change for cultural opportunities to be more accessible and hosting the annual I Am Festival.

This year’s I Am Festival involved four days of delivery across Sadler’s Wells, Tate Modern, the National Theatre and Kensington Palace. The theme of this year’s festival was “See Me, Hear Me”. The programme was cocurated by 10 Cultural Ambassadors supported by AFK. 146 Deaf, disabled and neurodivergent young people participated in the festival. 24 schools from across London were involved including 99 support staff. 50 teachers and 15 cultural sector professionals attended the CPD sessions. 50 people attended the “I’m Amazing, You’re Amazing” Cultural Ambassadors event at Sadler’s Wells and there was a public talk by pupils from James Garret School on the sculpture Babel at Tate Modern. Organisations involved included Access All Areas, BLINK Dance Theatre, Graeae Theatre Company, and Coney. Eight young people completed the Cultural Ambassadors programme. There were six I Am Network meetings across the year and there was an increase of participation of teachers in the network by 10%. A minimum of 15 teachers attended each meeting. This year, the I Am Festival generated press interest including an interview on BBC Radio London and a separate story on BBC Online. Alongside AND staff, both interviews featured I Am Festival Cultural Ambassadors.

meaningful opportunities for young people through a network, CPD and holiday offer.

The work this year involved a review of research and government’s recent Independent Review of Social Care. As part of this there were several consultations involving: Waltham Forest Virtual School, Virtual School enrichment coordinators, Kiln Theatre, the Care Experienced Movement, and Element. Two Culture Care webinars were delivered with 36 practitioners attending. With the pressure and capacity issues Virtual Schools are currently experiencing across London, A New Direction has recognised it is not the right time to pursue establishing a network, CPD opportunities or holiday offer and will integrate a revised version of this offer into our Cultural Sector programme from next financial year.

Place Partnerships Programme:

A forum and resources for sharing practice & learning that builds local capacity across creative eco-systems, unearths new leaders and fosters creative connections between people and place.

Representatives from 13 local partnerships attended three peer learning events this year. Our cultural education leadership enquiry work has progressed this year. We have commissioned and received a research and development paper exploring key considerations written by David Parker. This will form the starting point for consultation with sector representatives with the anticipation that learnings can inform our programme planning and delivery.

Cultural Sector Programmes:

Culture Care Network:

An offer that supports organisations in the cultural and care sectors to better understand the key issues and pedagogies and practices that lead to more

A series of Masterclasses and a Peer Learning programme for leaders in the field of creative learning and cultural education, providing opportunities to explore current practice, expand

Trustees’ Annual Report and Financial Statements

~~The Primary Arts programme is a new initiative funded by the City Educational Trust Fund via the City of London. The aim of the programme is to inspire and build the creative capacity of primary school children and empower staf to develop a creative and dynamic curriculum.~~

knowledge and improve their offer for children and young people. Eight masterclasses were delivered through the financial year, and these focussed on:

Accessible Activism involving Graeae Theatre Company and Sybil Elgar School with 41 attendees.
Radical Rest delivered by Arts Emergency, Bow Arts and the British Museum with 68 attendees.
Allyship for Practitioners delivered by Global Learning London with 55 attendees.
Youth Voice delivered by Django Pinter with speakers including Darcy Dixon, Clowns without Borders and Kazzum Arts with 96 attendees.
Radical Self Care delivered by Dawn Estefan, Ellis Lewis Dragstra and People United with 97 attendees.
Emotionally Safe Spaces facilitated by Sherly Malcolm with Kiz Manley of Hip Hop Heals and Bernadette Alexander from Aspiring for Children/John Lyon’s Charity.
Serving at the Intersections – How to create space for LGBTQIA+ of the global majority through innovative partnerships – delivered by Young Vic and The Hetrick Martin Institute in New York with 34 attendees.

Feedback from participants includes:

“Great practical tips and things to implement, woven in with lots to reflect on and new sources of information to look at. These offerings are invaluable for my practice.”

Space for Change is A New Direction’s peer learning programme and this financial year involved freelancers and representatives from cultural organisations including: Artis, Artsdepot, Barbican, British Music Youth Theatre, the Cartoon Museum, Cubit Arts, London Borough of Newham, National Youth Theatre, Papatango Theatre Company, Pilot Theatre, Punchdrunk Enrichment, Sadlers Wells, South London Gallery, Theatre Centre, The Photographers Galley, Towner Gallery, V&A, Young Vic. There were 6 Peer Learning sessions during the financial year with an average

attendance of 18 people per session. The Space for Change network also facilitated and delivered a Space for Change symposium at the Centre for Literacy in Primary Education with 80 attendees.

There were three Alumni Learning Lunches for previous Space for Change programme participants at Wigmore Hall, Barbican and The Drawing Room. A Radical Self Care Journal and toolkit was also launched and distributed to all participants. https://www.anewdirection. org.uk/radical-self-care-journal

Primary Arts:

The Primary Arts programme is a new initiative funded by the City Educational Trust Fund via the City of London. We have been in discussion with the grants team at the City of London for the last 18 months and in April 2023 £650k in funding was secured to test a model of engagement that we have been piloting since September 2023. The aim of the programme is to inspire and build the creative capacity of primary school children and empower staff to develop a creative and dynamic curriculum.

The programme offer involves:

a diverse palette of access points for primary school staff ranging from oneoff CPD to more immersive engagement through a leadership development programme. In-school and out-ofschool opportunities for staff and pupils to see/participate in inspirational experiences that connect them to London’s arts and cultural ecology.
the testing and development of an Alumni programme for ongoing peer support from primary school staff.
an in-depth monitoring and evaluation process that will capture learnings and insights on what works for short and long-term outcomes that furthers our understanding of what role cultural education plays in the lives of primary school children and staff.

The pilot has been delivered with a range of partners including UCL Centre for Educational Leadership (Leadership

Trustees’ Annual Report and Financial Statements

~~The course has provided empowerment and validation~~

Programme), Centre for Literacy in Primary Education (Masterclasses), Animate Arts, Apples and Snakes, I Can Dance, Little Angel Theatre, and Musiko Muisika (Touring), Crafts Council (Come and Try), Polka Children’s Theatre, Into Film, Frameless, and the Royal Academy of Arts (Go and See).

‘we’ve never done art twice in a day before’

‘The course has provided empowerment and validation; I have increased confidence in my role as I now have the ‘why’ to support the ‘what’ when making the case for cultural learning.’

‘Visiting varied cultural and education places has been so valuable, it has: inspired creativity; provided us with practical ‘take-aways’; and opened doors to new experiences which means we can bring about change in our cultural offer at school.’

By the end of March 2024, 11 touring schools offers were delivered reaching 24 classes, with teacher CPD at nine of these schools and boxes of books and materials dispatched to all. Alongside the successful delivery of two Masterclasses (30 bookings per masterclass) there was one Come & Try event (25 bookings). Three Leadership sessions had been delivered to a cohort of 22 emerging leaders and the development of Governance model was underway. The pilot of Primary Arts will be completed by early July and the launch of the full programme will commence in September.

‘What a fantastic CPD session! I would recommend it to anyone wanting to develop their creativity and those looking for new strategies for engaging children in a sustainable, innovative craft.’

‘Time to experiment with something I’ve wanted to try but didn’t know where to start with.’

‘Practical, ‘simple’ and accessible ideas, using cheap materials, to take back into the classroom – A simple activity that can translate into hours of fun and exploration with little ones.’

they teach art and their experiences.’

‘Learning from an artist/maker – Being taught by an artist was very inspiring.’

Digital platforms and resource archive: The development of our online platforms to further embed and connect our learning and creative communities and make better use of our rich archive of resources.

Work this financial year has involved us exploring how we best maintain and build upon our existing digital platforms, including the A New Direction, LookUp, and Create Jobs websites and the development of a new Good Growth Hub website. We initiated a campaign inviting new London based NPOs to join LookUp – our platform for connecting teachers with resources and creative opportunities in London. We also commissioned a review and analysis of all online delivery, resources and content from across AND’s programmes and digital platforms and a scoping exercise looking at other online training delivery and online learning and resource platforms in relevant sectors, and consultation with key audiences to clarify needs and requirements. A news section was launched on the A New Direction website, bringing together content (toolkits, webinars, videos, session plans, research & reflections) and online delivery (e.g. training, seminars, events, online consultations, hybrid festivals such as I Am) from across programme areas.

50 new organisations were profiled on LookUp, resulting in a measured increase (by c.400) in opportunities being shared. There was a 10% growth across all e-communications including newsletter mailing lists from 2022/23. A 10% measured growth in A New Direction and Good Growth Hub web traffic from 2022/23 baseline demonstrates strong cut-through in marketing to a diverse stakeholder base including young people.

15% increase in social media followers from 2022/23 baseline testifies to an appetite and interest in A New Direction content and provocations. We also commissioned work with One Further to train the team to use Google analytics more effectively.

‘Meeting and learning from other teachers – Talking to other teachers in what and how

Trustees’ Annual Report and Financial Statements

Youth Voice:

A programme of opportunities that empower children and young people to set and decide their own agenda, with access to opportunities and support to capture and share their views.

~~Our Youth voice work is now woven into our broader programme ofer~~

This programme involved a series of small projects delivered alongside our programmatic work which involved young people being commissioned in a range of roles including advisory, advocacy, project design and co-construction and leadership support. In addition, we ran a Young Advisers programme which 67 young people applied for, and 20 were selected to participate in three full days focussed on youth voice, governance, evaluation and advice. These days were held at the Good Growth Hub, Battersea Arts Centre and Whitechapel Gallery. Creative responses from participants were gathered and shared at a feedback session in February, and are currently being collated into a zine. We also commissioned the Youth Voice report from Darcy Dixon which will inform future planning and programme design. Four young Advisors supported on other programmes. Our Youth voice work is now woven into our broader programme offer and included in our work with the Cultural Ambassadors as part of the I Am Festival, Employment and Freelance Exchange and Employment and Skills Alumni.

Trustees’ Annual Report and Financial Statements

Employment and skills

The implementation of the 23-24 delivery plan was marked by a commitment to advancing service growth across all programmes which included continued focus on developing the Good Growth Hub programme offer based in the Queen Elizabeth Olympic Park. It has been through the continued refinement of the Good Growth Hub offer that we have based and delivered the wider employment and skills delivery. Throughout the year, we effectively engaged 675 participants across various disciplines. Central to the approach was the principle of cocreation, wherein we collaborated directly with participants, tailoring the offering to meet their needs and preferences. This emphasis on participantcentricity has been the foundation of the employment and skills focus and continues to yield positive results and nurturing authentic relationships.

~~…continues to yield~~ Our focus continues to increase access ~~positive results~~ and support local residents to enter and progress in the Creative, Cultural ~~and nurturing~~ and Digital technology sectors. Across ~~authentic~~ the year we have invested time into clearly developing and defining the Good ~~relationships~~ Growth Hub offer with a programme offer consisting of pre-employment training, traineeships, information advice and guidance, inclusive practices training and activities that supports the development of a GGH community and activation of the physical space. These elements fit into the defined core offer for the programme that categorises how the Hub intends to support individuals and organisations to outcomes of career agency and inclusive workforces.

The funders of these programmes include London Legacy Development Corporation, New Talent Future Leaders Fund, Foundation for Future London and Stratford Westfield, Royal Docks, the Mayor’s Fund for London, Mayor of London’s Skills for Life Bootcamps,

LIFT, Tuskar Trust and Fremantle, Trust for London, Barking and Dagenham College and Arts Council England.

Training and Skills:

Delivery of a 6-week podcasting course with industry partners V&A East, NTS, It’s Nice That and Digital Fairy, this included 28 young people.
Launching the Non-Linear immersive training as a 13-week multi-disciplinary training course on content creation and film & TV production. The course was taught by guest speakers including Campbell Addy, Koby Adom, Nikki Amuka Bird, Carrie Cracknell, Thomas Heatherwick, Marina Mansour, Vanessa Maria, Grayson Perry and Edem Wornoo. This pilot programme was a new collaboration with Ekow Eshun, Paul Franklyn and co-designed and co-delivered with Barking & Dagenham Council and Film Barking & Dagenham and the Mayor’s Fund for London. The programme involved 23 young people from East London boroughs supporting the creation of 20 films which responded to a brief set by Pearl UCL and included 80 people attending a final celebration event in December and a screening at the Boat House Studios in February with 60 people attending. Special thanks to Hot Cam for providing industry standard camera equipment and to the work placement partners Framestore, Universal Film and Music, Roald Dahl Storytelling Foundation, Frieze, Untold Studios.

‘The Roald Dahl Story Company was enthralling to me; and heavily inspired me. After the session, it got me out of my reading slump as I wanted to sit down and read his adult short story collection that I’ve had for a while. I loved seeing how storytelling can be involved in any role at work; from marketing to licensing.’ Non-Linear participant.

Trustees’ Annual Report and Financial Statements

~~economic factors are shaping the lives of British youth~~

The delivery of the 5th iteration of Flipside supported 20 young learners with training and insights into the world of digital product design. The 12-week course was designed and delivered by agencies and included fantastic repeat contributions from Made by Many, ustwo, BYND, Frog, DesignIt and Normally.

Information, advice and guidance (Creative Connect):

Creative Connect is a careers coaching, information, advice and guidance service designed to help young people access creative industry specific one to one and group support. This support is tailored to the individual and is based on their need, interest and level of their skill set. The service is delivered either online or in-person to suit what works best for each participant. The Creative Connect programme was redesigned to be delivered by 4 core coaches. 208 local young residents received IAG support, working on CVs and preparation to change careers.

Freelance support:

The Cost-of-Living campaign, shaped within our Freelance Exchange programme as part of the design hacks by TAG Agency, addressed the economic challenges faced by British youth, particularly Gen Z. A comprehensive report titled “Spenny: How the UK Cost of Living Crisis is Impacting British Youth,” displayed on billboards across London, highlighted the profound impact of rising living costs on various aspects of young people’s lives.

The report not only examines the economic implications but also delves into its effects on shopping habits, wellness, fashion and beauty, career and entrepreneurship, leisure activities, and community dynamics. It aims to provide insights into how economic factors are shaping the lives of British youth and their responses to these challenges.

The report reveals that financial worries contribute to anxiety and depression among 18–24-year-olds, emphasising the need for accessible mental health resources. There’s a trend towards seeking authenticity and connection on social media, particularly through content promoting self-care and

wellness activities. Insights for the report were gathered through a creative focus group involving over 80 young people, and data analysis involved collaboration with 15 individuals within the Freelance Exchange workshops.

‘Had the pleasure of being a part of the creative team for TAG Agency & Good Growth Hub highlighting the cost-ofliving crisis comes in right after 10+ years of austerity policies, a global pandemic, serious disinvestment in youth services, a worsening climate emergency, the London riots, and a war on trans lives.’ Olivia Taylar

More widely, the Freelance Exchange programme conducted a total of 19 Masterclasses and 2 Design Hacks, with each Design Hack spanning three days. To meet the growing demand for workshops focusing on funding, Arts Council England, National Heritage Lottery, BFI, and BAFTA held sessions demonstrating techniques and approaches to writing successful funding bids. Two participants on these sessions were successful in their bids with BAFTA and Arts Council to further develop their creative endeavours.

The programme facilitated regular commissions and recommendations for photographers and videographers within the network. The programme included 158 attendees.

Job opportunities:

STEP (Shared Training Employment Programme) is a 12-month paid traineeship programme for young East Londoners to step into careers in the creative & cultural sectors. The STEP programme this financial year has involved the recruiting of 28 young people accross three cohorts on to 12-month long paid traineeships with local creative and cultural sector employers, including BBC, UCL, V&A East, Bow Arts Trust, Sadler’s Wells, London College of Fashion, PEER UK, Magnum Photos, Hope & Glory, Grimshaw Foundation, Alexander Whitley, 3 Mills, Immediate Theatre, to name a few.

The programme involved monthly support sessions for all participants and regular check-ins and inclusive workplace workshops for employers. On average when recruiting for STEP we receive

Trustees’ Annual Report and Financial Statements

over 250 applications per cohort from local young people for a small number of roles, through which the team implement forensic positive action principle which along with quality of submission, prioritise range of indices including local residency, low income, gender, ethnicity and other protected characteristics.

Employment and Skills Alumni Network:

A programme for 18-30s seeking to remain and progress in the creative and cultural industries as a salaried employee/freelance. A community of like-minded young people who are supported individually and collectively through practical and related events planning and industry mentoring.

The Learning the Ropes Mentoring programme was a collaboration with Tuskar led by Dermot O’Leary. This fourmonth initiative comprised structured workshops, sessions, talks, and meetings where 24 mentors offered invaluable guidance to mentees, helping them navigate their career paths or further develop within their respective fields. Dermot O’Leary’s motivational speech at the programme’s kick-off emphasised the importance of creating opportunities for underrepresented creatives, aligning with the core mission of fostering inclusivity and breaking down barriers in the entertainment industry. The Learning the Ropes programme culminated with a final sharing at Fremantle’s HQ in early July.

We have relaunched the mentoring programme via the GGH offer which is a call out to match local expertise with participant needs. We have extended the reach of our mentoring program to encompass two cohorts of 25 participants each, spanning across the entire GGH programme spectrum rather than focusing solely on the STEP programme. This expansion aims to ensure that all GGH alumni have equitable access to mentoring opportunities, regardless of their specific programme affiliation, fostering a culture of continuous support and professional development within our community.

Additionally, across 23/24, the Employment and Skills team were commissioned by LIFT to create nine short films with local Newham filmmaker Amos

Mukombero. Local Insiders: Digital Jobs is a new video series produced in partnership with LIFT which provide localised career support and insights across the boroughs of Islington, Camden, Hackney and Tower Hamlets. The series offers insights into the landscape of some of the careers in the sector of digital technology, with each video profiling a different individual as they delve into their pathways, skills, education, and passion; offering a snapshot into the role itself and seniority of each digital path in these in-demand careers.

Finally, the 23/24 year saw the completion of the Moving on Up programme which supports young black men aged 18-24 from Newham. The programme, led by Action for Race Equality and locally delivered in partnership with London Works, West Ham Foundation with whom we worked in a collective impact way sharing advice, guidance, and support for young black men in their journeys to work. The partnership has different sector specialisms allowing us to lean into what we each feel we are good at. Across the programme, we have supported hundreds of young men and helped them in their journey into work.

Communications:

In 2023-24, New Direction embarked on several key initiatives, including the launch of a new website and assets designed by GGH alumni. A collection of case studies was curated, offering insights into past successes as an insight into the lived experience of our service users.

Hallie, Photographer and Videographer: “Although January has been quite tough, the past year I’ve been able to get by freelancing. At the moment, my pitch was successful to film on the highest budget I’ve ever worked on as a freelancer on a single project, so super excited about that. This lead came from people who are linked with GGH.”

Mohammed, Artist, Walthamstow: “I have since had my debut London solo show at Phillida Reid, a respected Bloomsbury gallery, which resulted in gallery representation as of summer 2023. I have sold work at London Frieze, exhibited internationally and created works for an upcoming solo booth at Art Basel Hong Kong. As part of my practice

Trustees’ Annual Report and Financial Statements

in collaboration with Phillida Reid, I have raised considerable funds for East London grassroots charities including East London Out Project and Aanchal Women’s Aid.”

Lourice J Ramos, Photographer, Walthamstow: “Last year blew my mind. I had the pleasure to do art direction for Adidas, Diageo and Airbnb. As well as shooting for Platoon, Spotify and D&AD.”

Mae-Li, Audio Producer, Hackney: “Mae-Li has been freelance producing podcasts for Somerset House and Monocle Radio. Good Growth Hub team have employed Mae-Li as one of the key facilitators on the current Skills for Life: Podcasting programme.”

Kanadu Gyamfi, Photographer &

Filmmaker, Newham: “Kanadu received a £4k grant which we put her forward for as part of the Citi Foundation/Mayor’s Fund for London film commission. Her work has since been picked up by LVMH founded film platform, Nowness here and she has been attending funding workshops and had a very positive portfolio review with Hudson Bec Group/Anyways agency.”

Trustees’ Annual Report and Financial Statements

Strategic development

~~We have created a new strategic plan that articulates our priorities over the next three years and have invested in how we measure our impact and gain insight into our work~~

The next 12 months will focus on stabilising the funding base of A New Direction. Our new status as part of Arts Council England’s National Portfolio has created the opportunity for the organisation to deliver the work we believe is most relevant and aligned to our values. We will use this opportunity to diversify our range of funders during the 24/25 financial year. We have created a new strategic plan that articulates our priorities over the next three years and have invested in how we measure our impact and gain insight into our work. We have introduced new systems to manage, report and forecast our finances, developed a fundraising strategy and rethought how we approach marketing and communications. Future opportunities include potential new investment in an expanded version of the Good Growth Hub with the London Legacy Development Corporation alongside delivery of the Primary Arts programme across London with the City Educational Trust Fund. To achieve this, we will continue to invest in our governance structures, inducting five new trustees and set up a Development and Fundraising Committee aligned to the Board.

Financial sustainability

A New Direction remains financially stable having secured a 3-year NPO award from Arts Council England from April 2023 of £3.6m. This round of funding ends March 2026, with the possibility of a further year’s extension. The London Legacy Development Corporation’s format of funding for a proportion of the employment programmatic work at the Good Growth Hub ceases in 2025-26. We have been awarded a grant of £3.65m from the City Educational Trust Fund (CETF) to run our Primary Arts project which will run until March 2028. From 2022-23 to 2027-28 CETF’s entire funding associated with this project will be £4.3m.

We have developed a finance strategy that focuses on the financial stability and sustainability of the organisation and intend to bring this to life over the coming year.

Our cash flow forecast over the next two years looks stable and has factored in risks for worst-case scenarios.

Reserves

Our reserves remain fit for purpose to cover any closure cost contingencies. The sector A New Direction operates in is currently changing, and with this in mind, we are working towards growing our unrestricted reserves to build financial resilience and maintain sustainability. In addition, there remain designated funds of £51,721 for development to establish our fundraising and development capacity.

Operations

Our achievement and performances delineate programmes delivered both face to face and virtually.

Impact on fundraising

During the 2023-24 Financial Year we were unable to appoint a role specifically focussed on Fundraising. To achieve our fundraising targets, we worked with a small number of consultants to lead on the development of key bids including the ACE application and CETF. With a focus on stability and sustainability, in 2023-2024 A New Direction started developing a new business plan, finance strategy and fundraising strategy to underpin its business needs.

We continue to build a culture where everyone feels heard and is able to bring their whole selves to work, and programming that’s accessible and welcoming to all.

Trustees’ Annual Report and Financial Statements

~~Financial review~~

Trustees’ Annual Report and Financial Statements

Financial review

~~The trustees are aware of their responsibility of managing the risks facing the charity overall~~

Incoming Resources and results for the financial year

Incoming Resources in the year amounted to £2.5m (2023: £3.2m) of which £87k (2023: £3.0m) related to project-restricted activities. In addition to the principal Arts Council England Bridge Sector Support Organisation funding, A New Direction was successful in securing £650k from City Educational Trust Fund for the delivery of our Primary Arts project. Our contracts continued with London Legacy Development Corporation, Greater London Authority, Mayor’s Fund, Trust for London and University College London. There was a deficit of £264,644 (2023 surplus: £26,682).

Reserves policy

The reserves policy is to maintain a level of unrestricted reserves sufficient to enable the managed wind-down of activities, should this prove necessary. This level has now been achieved and is considered three months’ salary and closure costs. This is quantified as £441,934 at the current level of expenditure. The level of free unrestricted reserves which are included in the general fund of £582,503 (2023: £836,927) at the financial year end stood at £547,916 (2023: £748,584).

In addition, there are designated reserves of £51,721 (2023: £51,721). At 31st March 2024, the charity held restricted reserves of £86,872 (2023: £97,094).

The Reserves Policy and its application will be reviewed annually, to ensure they align with future strategic planning and business objectives.

Designated reserves

The trustees have previously set aside £51,721 (2023: £51,721) in a designated reserve within unrestricted funds to fund development and fundraising, this balance remains.

Investment policy

The trustees have considered the most appropriate policy for investing funds, and in the current economic climate they felt it prudent to spread the bank deposits over several different banks.

Principal sources of funding

Arts Council England was the principal funder for our Bridge activities. Other sources of funding are disclosed in note 4 to the Financial Statements.

Risk management:

The trustees are aware of their responsibility of managing the risks facing the charity overall. A review of the major risks is regularly conducted, and a risk register is reviewed and updated by the Executive Team and the Finance Subcommittee. Systems and procedures have been established to mitigate the risks that have been identified. Key risks identified include:

Reliance on key funder – Arts Council England continues to be a key partner and stakeholder. Maintaining a good relationship is vital as they have contributed substantially, through the four-year funding agreement to helping A New Direction fulfil its potential. In our business plan we will also invest in new staff and resources to diversify our income.
The loss of key staff – the loss of senior staff is a significant potential risk for us. We are a knowledge-based and relationship-building organisation, and we are dependent on the experience and skills of key members of our team. To mitigate against this, we have succession planning with effective recruitment procedures in place to attract and retain key senior posts.

Trustees’ Annual Report and Financial Statements

Organisational capacity and stretch – the risk that both the quality of our projects and staff relations are compromised due to over-stretched resources is mitigated by careful alignment of our organisational, artistic and business planning processes, project management and executive monitoring.

Statement of the board of trustees

The trustees (who are also Directors of A New Direction London Limited) are responsible for preparing the Trustees’ Annual Report and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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

Select suitable accounting policies and apply them consistently.
Observe the methods and principles in the Charities Statement of Recommended Practice (SORP FRS 102).
Make judgements and estimates that are reasonable and prudent.
State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements.
Prepare the financial statements on a going concern basis, unless it is inappropriate to presume that the charity will continue in business.

year. Details of trustees expenses and related party transactions are disclosed in note 16 to the Financial Statements.

Trustees are required to disclose all relevant interests and register them with the Chief Executive in accordance with the Articles of Association rules to withdraw from decisions where a conflict arise. The pay of the Charity’s Chief Executive and Executive Team is reviewed annually and benchmarked against comparable charities.

Disclosure of information to auditors

The Directors who held office at the date of approval of this Directors’ Report confirm that, so far as they are each aware, there is no relevant audit information (as defined in Section 418(2) of the Companies Act 2006) of which the company’s auditors are unaware; and each Director has taken all the steps that they ought to have taken as a Director to make themselves aware of any relevant audit information and to establish that the company’s auditors are aware of that information.

Moore Kingston Smith LLP have indicated their willingness to continue in office and in accordance with the provisions of the Companies Act 2006 they are deemed reappointed as auditors for the ensuing year.

Small Company Disclosure:

The trustees have prepared this report in accordance with the Special Provisions of Part 15 of the Companies Act 2006 relating to small companies and the Charities SORP (FRS 102) – Accounting and Reporting by Charities. No material uncertainties that may cast significant doubt about the ability of the charity to continue as a going concern have been identified by the trustees.

This Trustees Report was approved by the Board and signed on its behalf by:

Key management personnel remuneration:

The trustees consider the Chief Executive and the Executive Team as comprising the key personnel of the charity in charge of running and operating the charity on a day-to-day basis. All trustees give their time freely and no trustee remuneration was paid in the

Arfa Butt

Chair of Trustees 6th November 2024

Trustees’ Annual Report and Financial Statements

Independent auditor’s report to the members of A New Direction

We have audited the financial statements of A New Direction London Limited (‘the company’) for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial

reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the charitable company’s affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
and have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion:

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

obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern:

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

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

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

Other information:

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the

Trustees’ Annual Report and Financial Statements

financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006:

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

the information given in the trustees’ annual report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the trustees’ annual report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception:

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of trustees’ remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

Responsibilities of trustees:

As explained more fully in the trustees’ responsibilities statement set out on page 22, the trustees (who are also the directors of the charitable company for the purposes of company law) are

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

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

Auditor’s responsibilities for the audit of the financial statements:

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

As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Trustees’ Annual Report and Financial Statements

Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the charitable company’s internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the appropriateness of the trustees’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitable company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charitable company to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements

in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

The objectives of our audit in respect of fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the charitable company.

Our approach was as follows:

We obtained an understanding of the legal and regulatory requirements applicable to the charitable company and considered that the most significant are the Companies Act 2006, the Charities Act 2011, the Charity SORP, and UK financial reporting standards as issued by the Financial Reporting Council.
We obtained an understanding of how the charitable company complies with these requirements by discussions with management and those charged with governance.
We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance.
We inquired of management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations.
Based on this understanding, we designed specific appropriate audit procedures to identify instances of noncompliance with laws and regulations. This included making enquiries of management and those charged with

Trustees’ Annual Report and Financial Statements

governance and obtaining additional corroborative evidence as required.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

Use of our report:

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

6th November 2024

Karen Wardell

Senior Statutory Auditor

For and on behalf of moor Kingston Smith LLP, Statutory Auditor

Orbital house 20 Eastern Road Romford Essex RM1 3PJ

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

Trustees’ Annual Report and Financial Statements

Statement of Financial Activities (Including Income and Expenditure) For the Year Ending 31st March 2024

				Year ended	Year ended
				31 March 2024	31 March 2023
		Unrestricted	Restricted	Total	Total
	Notes	£	£	£	£
Incoming Resources
Incoming Resources from generated funds:
Voluntary income:
Donations and similar income		43,912	-	43,912	85,282
Incoming Resources from charitable activities:
Employment and Skills	4	190,202	470,807	661,009	1,221,815
Increasing Creative potential	4	-	487,500	487,500	125,875
Strategic Development	4	1,196,941	59,853	1,256,794	1,804,595
		1,387,143	1,018,160	2,405,303	3,152,285
Investment income
Bank interest receivable		1,891	-	1,891	829
Total Incoming Resources		1,432,946	1,018,160	2,451,106	3,238,396
Resources Expended
Cost of generating funds
Fundraising costs		29,640	-	29,640	36,896
Charitable activities
Employment and Skills	5	171,629	482,627	654,256	1,189,543
Increasing Creative Potential	5	-	455,417	455,417	116,092
Strategic Development	5	1,486,101	90,336	1,576,437	1,869,183
		1,657,730	1,028,380	2,686,110	3,174,818

Total Resources Expended		1,687,370	1,028,380	2,715,750	3,211,714
Net movement of funds before transfers		(254,424)	(10,222)	(264,644)	26,682
Transfer between funds				-	-
Net movement in funds		(254,424)	(10,222)	(264,644)	26,682
Total Funds at 1st April 2023		888,648	97,094	985,742	959,060

Total Funds at 31st March 2024		634,224	86,872	721,098	985,742

The notes on pages 30 to 40 form part of these financial statements. The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities.

Trustees’ Annual Report and Financial Statements

Balance Sheet As at 31st March 2024

Notes Fixed Assets Tangible assets 7 Intangible assets 8 Current Assets Debtors 9 Cash at bank and in hand Creditors due within on year Creditors 10 Net Current Assets Total Assets less current liabilities Creditors due more than one year	31 March 2024 31 March 2023 31 March 2022 £ £ £ £ £ £ 24,875 55,032 79,603 30,792 60,836 64,600 219,146 225,475 233,886 1,060,788 1,058,535 1,113,535 1,279,935 1,284,010 1,347,421 614,504 414,136 490,746 665,431 869,874 856,675 721,098 985,742 1,000,878 - - (41,818)	31 March 2024 31 March 2023 31 March 2022 £ £ £ £ £ £ 24,875 55,032 79,603 30,792 60,836 64,600 219,146 225,475 233,886 1,060,788 1,058,535 1,113,535 1,279,935 1,284,010 1,347,421 614,504 414,136 490,746 665,431 869,874 856,675 721,098 985,742 1,000,878 - - (41,818)	31 March 2024 31 March 2023 31 March 2022 £ £ £ £ £ £ 24,875 55,032 79,603 30,792 60,836 64,600 219,146 225,475 233,886 1,060,788 1,058,535 1,113,535 1,279,935 1,284,010 1,347,421 614,504 414,136 490,746 665,431 869,874 856,675 721,098 985,742 1,000,878 - - (41,818)

Net Assets	721,098	985,742	959,060
Reserves Unrestricted funds 11 Designated funds 12 Restricted funds 13	582,503 51,721 86,872	836,927 51,721 97,094	424,358 76,721 457,981
Total Funds	721,098	985,742	959,060

These Accounts have been prepared in accordance with the Special Provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by the Board of Trustees and signed on its behalf by:

Shamik Chakraborty

Treasurer Company Number 06627531 6th November 2024

Trustees’ Annual Report and Financial Statements

Trustees’ Annual Report and Financial Statements				2
Cash Flow Statement
For the Year Ended 31st March 2024
		2024		2023
	£	£	£	£
Cash fows from operating activities:		12,588		7,515
Net Cash provided by operating activities
Cash fow from investing activities:
Interest	1,891		829
Purchase of Tangible Fixed Assets	-		(33,098)
Purchase of Intangible Fixed Assets	(12,225)		(30,245)
		(10,334)		(62,515)
Movement in cash		2,253		(55,000)
Cash balance at the beginning of the year		1,058,535		1,113,535
Cash and cash equivalents at end of the year		1,060,788		1,058,535
Reconciliation of net movement in funds to net cash infow from operating		activities
Net movement in funds in the year		(264,644)		26,682
Depreciation and amortisation		72,426		91,678
Interest		(1,891)		(829)
(Increase) Decrease in debtors		6,329		8,411
Increase ( decrease ) in creditors		200,368		(118,427)
Net Cash Infow ( outfow ) from operating activity		12,588		7,515
Analysis of cash and cash equivalents
Bank and deposits		1,060,788		1,058,101
Cash in Hand		-		434
		1,060,788		1,058,535

Trustees’ Annual Report and Financial Statements

Notes for the Financial Statement for the year ended 31st March 2024

1. Accounting policies

a. Company information and legal status A New Direction London Limited is a private limited company by guarantee incorporated in England and Wales. The registered office is Good Growth Hub, Unit 1-28 Echo Building, East Bay Lane, London, E15 2SJ. In the event of the company being wound up the liability of each member shall not exceed £1. The members of the company are the trustees as detailed on page 2.

e. Gifts in kind

Gifts in kind are accounted for when received and are recorded at a best estimate of their value by the trustees.

f. Capital grants

Capital grants for the purchase of equipment and other fixed assets are recognised in the Statement of Financial Activities on a systematic basis over the useful economic life of the asset (usually to match the associated depreciation charge).

b. Basis of accounting

The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland effective 1 January 2019 (the FRS 102 Charities SORP), the Companies Act 2006 and Charities Act 2011. The trustees confirm that the charity meets the definition of a public benefit entity under FRS 102.

c. Going concern

At the time of approving these financial statements, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and for a period of not less than twelve months. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

d. Income

Grants, donations, and contributions from schools are accounted for on a receivable basis.

g. Donations Donations and similar income are accounted for in the year in which they are receivable.

h. Grant income

Grant income is recognised on a receivable basis when the granting organisation is committed to payment.

i. Deferred income

Income is deferred when either the donor specifies that the grant or donation must only be used in future accounting periods or the expenditure which the grant or donation was to fund has not been incurred, or the donor has imposed conditions which must be met before the charity has unconditional entitlement. Grants relating to an asset which are deferred are recognised as a liability (deferred income) and are not deducted from the carrying value of an asset.

j. Restricted funds Restricted funds are to be used for specific purposes as laid down by the donor.

Expenditure which meets this criteria is charged to the fund together with a fair allocation of overheads.

Trustees’ Annual Report and Financial Statements

k. Unrestricted funds

Unrestricted funds are grants, donations and other income receivable or generated for the objects of the charity without further specified purposes and are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

l. Designated funds

Designated funds are set aside by the trustees out of unrestricted funds for specific purposes.

m. Pensions

The pension costs charged to the financial statements represent the contributions payable by the charity during the year according to FRS 102. The pension scheme is a defined contribution scheme with the employer paying contributions of 5% of salaries. Contributions are allocated between restricted and unrestricted funds on the same basis as other expenditure. The pension scheme’s assets are held separately from those of the company and are managed by independent fund managers who alone are responsible for matters of investment policy and the actual payment of the pension to the person so entitled to it.

n. Leased assets

Assets held under lease arrangements that transfer substantially all the risks and rewards of ownership to the company are capitalised. The capital element of the related rental obligations is included in the creditors. The interest element of the rental obligations is charged to the Statement of Financial Activities on the straightline basis. Rentals in respect of all other leases are charged to the Statement of Financial Activities.

o. Resources expended and apportionment of expenses

Expenditure is recognised on an accrual basis when a liability is incurred. Expenditure includes any VAT which cannot be recovered, which is reported as part of the expenditure to which it relates.

Costs of raising funds comprise the costs associated with attracting voluntary income. 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 directly to such activities and those costs of an indirect nature necessary to support them.

p. Tangible fixed assets and depreciation Fixed assets (excluding investments) are stated at cost less accumulated depreciation. The costs of minor additions for those costs below £2,500 are not capitalised. Depreciation is charged on fixed assets so as to write them off over their expected useful lives at the following rates:

Computers and equipment 25% of cost per annum

q. Intangible fixed assets other than

goodwill

Intangible assets acquired separately from a business are stated at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Amortisation is charged on intangible fixed assets so as to write them off over their expected useful lives at the following rates;

Software licences 25% of cost per annum

Web development 25% of cost per annum

r. Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

s. Financial assets and liabilities The charitable company only has basic financial assets and liabilities.

t. Critical accounting estimates and judgements and key sources of estimation uncertainty. In the application of the company’s accounting policies, the trustees are required to make judgements,

Trustees’ Annual Report and Financial Statements

estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty Useful economic lives of tangible and intangible fixed assets

The annual depreciation charge for tangible and intangible fixed assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and physical condition of the assets. See note 7 for the carrying amount of the tangible fixed assets and note 1 (p) for the useful lives for each class of asset. See note 8 for the carrying amount of the intangible fixed assets and note for the useful lives for each class of asset.

Trustees’ Annual Report and Financial Statements

2 Net Incoming Resources

This is stated after charging the following:

	2024	2023
Depreciation and Amortisation	72,426	91,678
Auditors’ remuneration:
Audit fee	18,150	16,740
Other services	-	6,324
Equipment rental – operating leases	-	148,211

3 Staff costs

3 Staf costs
Wages and salaries National insurance costs Pension contributions Redundancy Costs	2024 2023 1,081,394 1,216,406 120,676 130,003 66,652 68,302 58,727 -
	1,327,449 1,414,711

One employee (2024: none) received an annual salary in the band of £60,000– £70,000 (2023: one) with employer’s pension contributions of £2,963

One employee (2024: one) received an annual salary over £70,000 with employer’s pension contributions of £3,468 (2023: none) with employer’s pension contributions of £3,805.

The average number of employees employed by the charity during the year was 31 (2023: 36).

One Member of the Board received remuneration or benefits during the period of £15,000 (2023: £0).

Total remuneration of the four (2024: four) members of the Executive Team – these being the charity’s key management personnel – during the year was £241,075 (2023: £227,989).

Trustees’ Annual Report and Financial Statements

4 Incoming Resources from charitable activities

			Increasing
	Employment		Creative	Strategic
	and Skills		Potential	Development		Total 2024	Total 2023
Unrestricted		£	£	£		£	£
Arts Council England NPO		-	-	1,182,556		1,182,556	-
Barking College		30,494	-	-		30,494	-
Bridge 10 Year Refection		-	-	-		-	60,392
Dream Machine Income		-	-	-		-	78,750
Eastwick & Sweetwater		9,458	-	-		9,458	-
Thames – Fremantle Label		15,870	-	-		15,870	-
General Consultancy		-	-	14,385		14,385	22,150
Greater London Authority		107,400	-	-		107,400	44,775
LIFT		24,480	-	-		24,480	-
Royal Docks		2,500	-	-		2,500	-
Shared Intern VAR 2.0		-	-	-		-	5,000
Tate Year 3 Enquiry – ACE grant		-	-	-		-	3,000
University College London: East Education Teacher CPD Research		-	-	-		-	19,925
Total Unrestricted	190,202		-	1,196,941		1,387,143	233,992
Restricted
ACE Leader		-	-	-		-	17,550
Artsmark		-	-	16,900		16,900	7,290
Arts Council England Bridge		-	-	-		-	1,534,092
Arts Council England Bridge Expansion		-	-	-		-	93,196
Arts Council England Leadership		-	-	39,619		39,619	-
Calouste Gulbenkian Foundation UK Income		-	-	3,334		3,334	20,000
City Educational Trust Fund		-	487,500	-		487,500	50,000
Creativity Works Fashion Mayor Fund		88,000	-	-		88,000	142,000
Hackney Wick and Fish Island CEZ		-	-	-		-	7,500
Kickstart Wage Subsidies		-	-	-		-	195,928
Kusuma Trust UK		-	-	-		-	24,125
London Legacy Development Corporation	280,306		-	-		280,306	506,263
Royal Docks Income		-	-	-		-	52,360
Trust for London		40,000	-	-		40,000	95,500
University College London: Culture		62,500	-	-		62,500	172,490
Total Restricted	470,807		487,500	59,853		1,018,159	2,918,294

Total	661,009		487,500	1,256,794	2,405,302		3,152,286

Trustees’ Annual Report and Financial Statements

5 Analysis of Expenditure on Charitable Activities

		Increasing
	Employment	Creative	Strategic
	and Skills	Potential	Development		Total 2024	Total 2023
Unrestricted	£	£	£		£	£
Arts Council NPO	-	-	1,508,416		1,508,416	-
Barking College	30,494	-	-		30,494	-
East Wick and Sweetwater Fund	9,457	-	-		9,457	-
Fremantle	15,869	-	-		15,869	759
General fund	-	-	7,325		7,325	10,502
Greater London Authority	87,475	-	-		87,475	-
LIFT	24,481	-	-		24,481	49,175
Royal Docks	3,853	-	-		3,853	-
Festival 2022 UK	-	-	-		-	78,750
Bridge 10 Year Refection	-	-	-		-	57,527
Shared Intern VAR 2.0	-	-	-		-	5,000
Tate Year3 Enquiry	-	-	-		-	3,000
UCL: East Education Teacher CPD Research	-	-	-		-	19,925
Total Unrestricted Costs	171,629	-	1,515,741		1,687,371	224,638
Restricted
Arts Council Bridge	-	-	27,193		27,193	1,506,899
Arts Council Bridge Expansion (DFE)	-	-	-		-	93,196
Artsmark Pilot		-	20,190		20,190	-
Arts Council Transforming Leadership	-	-	39,619		39,619	22,449
Barclays 100	-	-	-		-	20
Bridge Peer Network	-	-	-		-	22,903
Calouste Gulbenkian Foundation UK	-	-	3,334		3,334	40,000
City Educational Trust Fund	-	451,417	-		451,417	20,000
Create Jobs General	-	-	-		-	796
DWP Kickstart	-	-	-		-	242,451
Jacky Petchy	-	-	-		-	6,350
Kusuma Trust UK	-	4,000	-		4,000	35,115
Hackney Wick and Fish Island CEZ	-	-	-		-	7,500
LLDC Good Growth Hub	291,517	-	-		291,517	480,740
Mayor’s Funds (Creativity Works)	-	-	-		-	2,866
Mayor’s Fund for London	88,000	-	-		88,000	142,000
Old Street	-	-	-		-	5,000
Newham Docklands	-	-	-		-	54,794
South London Investment Corridor	-	-	-		-	6,566
Trust for London	40,000	-	-		40,000	96,565
University College London: Culture	63,110	-	-		63,110	200,866
Total restricted expenditure	482,626	455,417	90,336	1,028,380		2,987,076

Total Resources Expended	654,256	455,417	1,606,077		2,715,751	3,211,714

Trustees’ Annual Report and Financial Statements

6 Support costs allocated to Charitable Activities and Governance

Resources Expended are allocated to the particular activity where the cost directly relates to that activity. Where costs cannot be allocated directly they are apportioned on an appropriate basis e.g., floor areas, per capita or estimated usage.

		Increasing
	Employment	Creative	Strategic
	and Skills	Potential	Development	Total 2024	Total 2023
Communication costs	18,047	3,609	18,448	40,104	10,644
Support staff costs	56,146	11,229	57,394	124,769	118,828
IT costs	66,307	14,555	80,862	161,724	170,561
Offce costs	6,663	1,463	8,125	16,251	195,681
Premises costs	19,627	4,308	23,935	47,870	5,321
Governance Cost	14,501	3,183	17,684	35,368	19,353
Total support costs	181,291	38,347	206,448	426,086	520,388

7 Tangible Fixed Assets

Cost At 1st April 2023 Additions At 31st March 2024 Depreciation At 1st April 2023 Charge for the year Disposals At 31st March 2024 Net Book Value 31 March 2024 Net Book Value 31 March 2023	£ 286,645 - 286,645 231,613 30,157 - 261,770 24,875 55,032

8 Intangible Fixed Assets

Cost At 1st April 2023 Additions At 31st March 2024 Amortisation At 31st March 2023 Charge for the year At 31st March 2024 Net Book Value 31 March 2024 Net Book Value 31 March 2023	£ 159,445 12,225 171,670 98,609 42,269 140,878 30,792 64,836

Trustees’ Annual Report and Financial Statements

9 Debtors

Trade debtors Other debtors Prepayments and accrued Income Tax and Social Security	2024 2023 £ £ 82,975 121,982 - 2,883 77,610 100,610 58,561 - 219,146 225,475

10 Creditors: amounts falling due within one year

Other creditors Project creditors Accruals Deferred income Tax and Social Security	2024 2023 31,752 1,600 66,889 26,057 284,513 245,740 207,500 58,343 23,850 82,394
	614,504 414,134

	Capital Grant	Total
	£	£
Balance as at 1st April 2023	52,343	52,343
Amount Release	(52,343)	(52,343)
Balance as at 31st March 2024	-	-

11 Unrestricted funds

11 Unrestricted funds
	Balance at	Incoming	Resources		Balance at
	31 March 2023	Resources	Expended	Transfers	31 March 2024
	£	£	£	£	£
General Funds
Brought forward	836,927	1,432,946	(1,687,370)	-	582,503
Total General Funds	836,927	1,432,946	(1,687,370)	-	582,503
The following funds have been set aside by the trustees.
Designated Funds:
Development	51,721	-	-	-	51,721
Total Designated	51,721	-	-	-	51,721

Total Unrestricted	888,648	1,432,946	(1,687,370)	-	634,224

The trustees have set aside £51,721 in a designated reserve within unrestricted funds for fundraising and Future developments. Expenditure from this reserve is expected to be spent with the next 24 months.

Trustees’ Annual Report and Financial Statements

12 Restricted Funds

12 Restricted Funds
		Total	Total
	Balance at	Incoming	Resources		Balance at
	31 March 2023	Resources	Expended	Transfers	31 March 2024
	£	£	£	£	£
Arts Council Bridge	27,193	-	(27,193)		-
Artsmark Pilot	7,290	16,900	(20,190)		4,000
ACE Transforming Leadership	-	39,619	(39,619)		-
Calouste Gulbenkian Foundation UK	-	3,334	(3,334)		-
City Educational Trust Fund	30,000	487,500	(451,417)		66,083
Kusuma Trust UK	4,000	-	(4,000)		-
LLDC Good Growth Hub	28,000	280,306	(291,517)		16,789
Mayor’s Fund for London	-	88,000	(88,000)		-
Trust for London	-	40,000	(40,000)		-
University College London	610	62,500	(63,110)		-
Total Restricted	97,093	1,018,159	(1,028,380)	-	86,872

Trustees’ Annual Report and Financial Statements

Arts Council Funding Bridge:

The closure of Arts Council Bridge work. The organisation to improve the delivery of arts opportunities for children and young people, acting as a bridge between the arts and education sectors in London and coordinating. Bridge activity for London’s Associate Bridges as agreed by Arts Council England. Funding for this project ceased 31 March 2023, costs in 2023-24 are project wrap up costs. This area of work will evolve, and A New Direction will be funded as a National Portfolio Organisation.

Trust for London:

A grant has been awarded for an individualised leadership and development programme for young black men in the creative and digital sector as part of the Newham Collective Impact Action Plan.

UCL:

The UCL New Talent Fund Programme is a five-year programme with the East Bank Partners for Future London delivering employment and skills opportunities with local businesses and residents.

Artsmark Pilot:

This funding has been awarded by the Arts Council for A New Direction to support Waltham Forest Virtual School with their Artsmark journey as part of the Artsmark Virtual Schools pilot this year. This includes advice on statements and activity, attending pilot meetings and contributing to the evaluation.

City Educational Trust Fund:

A New Direction has been funded by the City Educational Trust Fund to support the costs of bid development in advance of its submission responding to A Passion for Primary School pilot.

Kusama Trust:

The funding has contributed to the I AM Festival and will enable children with SEND to participate in nonstatutory activities that build confidence, enhance their abilities and encourage a sense of personal achievement.

London Legacy Development Corporation:

London Legacy Development Corporation has funded the Flipside and STEP projects to deliver initiatives and measures to provide education and training opportunities and employment advice and programmes in order to assist local residents in Hackney as well as Newham, Tower Hamlets and Waltham Forest to gain access to jobs that will arise from businesses that operate from the Here East project.

The Mayor’s Fund for London:

This funds our Creativity Works programme and is an intensive 12-week training course in creative industries employment for 18–24-year-olds.

Trustees’ Annual Report and Financial Statements

13 Analysis of funds

	Unrestricted	Restricted	Total 2024	Total 2023
	£	£	£	£
Reserves are represented as follows:
Fixed assets	48,961	6,706	55,667	115,868
Current assets	1,125,737	154,197	1,279,935	1,284,009
Liabilities	(540,473)	(74,031)	(614,504)	(414,136)
	634,224	86,872	721,098	985,741

14 Related Party Transactions

During the year services of £15,000 (2023 £Nil), relating to supporting the Marketing and Communications teams during the restructuring transaction, were provided by Andrew Marcus, a Trustee. £Nil (2023: Nil) was outstanding at the year end in relation to this.

15 Comparative Statement of Financial Activities

Ci S f Fiil Aiii	Ci S f Fiil Aiii
15 omparatve tatement o nanca ctvtes Unrestricted Restricted Total £ £ £ Incoming Resources Incoming Resources from generated funds: Voluntary income: Donations and similar income 85,282 - 85,282 Incoming Resources from charitable activities: Employment and Skills 49,775 1,172,040 1,221,815 Increasing Creative Potential 81,750 44,125 125,875 Strategic Development 102,467 1,702,128 1,804,595 233,992 2,918,293 3,152,285 Investment Income Bank interest receivable 829 - 829 Year ended 31st March 2023
Total Incoming Resources	320,103 2,918,293 3,238,396
Resources Expended Cost of generating funds Fundraising costs Charitable activities Employment and Skills Increasing Creative Potential Strategic Development	- 36,896 36,896 49,934 1,139,609 1,189,543 78,750 37,343 116,092 95,954 1,773,229 1,869,183 224,638 2,950,181 3,174,818
Total Resources Expended	224,638 2,987,077 3,211,714
Net movement of funds before transfers Transfer between funds Net movement in funds Total funds at 31st March 2022 Total Funds at 31st March 2023	95,465 (68,783) 26,682 292,102 (292,102) - 387,569 (360,887) 26,682 501,079 457,981 959,060 88,648 97,094 985,742
	501,079 457,981 959,060

@A_New_Direction � @anewdirection_ldn � @anewdirectionlondon � a-new-direction-london anewdirection.org.uk

==> picture [152 x 64] intentionally omitted <==

Photo credit: Andy Paradise Photo credit: Eric Aydin-Barbeini Photo credit: Hallie Primus (Primrose Films) Photo credit: Jalaikon

1st April 2023 – 31 March 2024

Company information

Registered company name

Registered office

Incorporation date

Trustees

Executive Leadership Team

Bankers

Statutory auditors

Contents

Chair and Chief Executive’s foreword

Trustees’ Annual Report

Structure, governance and management

Recruitment and appointment of trustees

Our purpose and activities

Charitable objectives

Vision and Mission

Public benefit

Values

~~Equity~~

~~Connectivity~~

~~Trust and Respect~~

~~Creative Culture~~

~~Kindness~~

Education culture and place

I AM Festival:

Place Partnerships Programme:

Cultural Sector Programmes:

Culture Care Network:

Primary Arts:

‘we’ve never done art twice in a day before’

they teach art and their experiences.’

‘Learning from an artist/maker – Being taught by an artist was very inspiring.’

Youth Voice:

Employment and skills

Training and Skills:

Information, advice and guidance (Creative Connect):

Freelance support:

Job opportunities:

Employment and Skills Alumni Network:

Communications:

Kanadu Gyamfi, Photographer &

Strategic development

Financial sustainability

Reserves

Operations

Impact on fundraising

Financial review

Incoming Resources and results for the financial year

Reserves policy

Designated reserves

Investment policy

Principal sources of funding

Risk management:

Statement of the board of trustees

Disclosure of information to auditors

Small Company Disclosure:

Key management personnel remuneration:

Independent auditor’s report to the members of A New Direction

In our opinion the financial statements:

Basis for opinion:

Conclusions relating to going concern:

Other information:

Opinions on other matters prescribed by the Companies Act 2006:

Matters on which we are required to report by exception:

Responsibilities of trustees:

Auditor’s responsibilities for the audit of the financial statements:

Use of our report:

Karen Wardell

Senior Statutory Auditor

Statement of Financial Activities (Including Income and Expenditure) For the Year Ending 31st March 2024

Balance Sheet As at 31st March 2024

Shamik Chakraborty

Notes for the Financial Statement for the year ended 31st March 2024

e. Gifts in kind

f. Capital grants

b. Basis of accounting

c. Going concern

d. Income

Equity

Connectivity

Trust and Respect

Creative Culture

Kindness