Ml8kty Annual report and financial statements for the year ended 31 March 2024 Company number 06652046 Charity number 1129006 P208 1 Annual report and tinancial statements FOR THE YEAR ENDED 31 MARCH 2024 Pages Directors and advisers Forward from our Chair of Trustees Operatlonal review 5-17 Dlreclors, report 18-22 Independent Auditors, report Slalement of flnan¢ial acllvities 23-27 28 Balanc8 sheal 29 Slalement of c8shflows Notes to the ffnanclal statements 31-39 Page 2 CONSTITUTION The Mighty Creallves l TMC'I is a company limited by guarantee and a registered charity governed by its memorandum and articles of association dated 27 October 2021. In the event of the Drganisalion being wound up each trustee agrees to contribute £1 towards the costs of dissolution. The company is also registered with the Charity Comrnls8ion for En9land & Wales. Charlly number 1129006. Comp8ny number 06652046. DIRECTORS The directors of the charitable company are ils Iruslees for the purpos&s of Gharily law. The dlreclors seNing during the yèar and since the year end were as follows.. Prof C While (Chairl appointed 111 Juw 2023 Mr E Roblnson-Gr8en {Vice-Ch81rl Ms V Kelly Ms J Hallas Ms N Charl88WQrth Ms J Dennis appointed 1411 May 2023 Mr P Flelding resigned 2nd October 2023 Mr V Malhotra (Vice-chairl resigned 17HI January 2024 Ms M Maripise resigned 28, February 2024 Mr J While resigned 4th October 2023 Ms R Thomas-smilh resigned 2181 September 2023 SECRETARY Dr R N Ow$n M8E SENIOR LEADERSHIP TEAM Imanagemenl posltlons rather Ihan Dlrectors In company law) Chlef Executive Officer Dr R N Owen MBE REGISTERED OFFICE AND OPERATIONAL ADDRESS LCB Depot 31 Rulland Street Leicesler, LE1 1 RE AuoiTORS RWB Chartered Accountants Northgate House, Northgate New Ba8ford, Nollingham, NG7 7BQ P8G8 3 W4l8kEy Fonvard from our Chair of Trustses Over the last year l am extremely proud of the work of TMC. The staff team has worked with ambllion and purpose lo develop opportunities for children and young People and their efforts h8ve borne fruit. I would like lo take this opportunity lo thank them on behalf of the board. Whilst we have waved some Truglees bon voyage and in particular our Vice Chair Vlvek Malhotra we are aware of the history of the organisaliDn and what Vivek in particular wisely counselled al the tlm8, to brlng the organisalion Into rude health. This year we have emboldened thé board wlth new member5 and skllls aNJ focus8ed the work of board members to suppjrt the staff18am with thelr work so that w8 work as one team. We live in cha118nging Ilmes and the Ghildren and young people we support require the work of TMC more and more. Our mission and purpose require 8 slep change lo include seeking out new opportunities, partnerships and delivery mechanisms and fits wllh the vislon of TMC as both 8 national and international organi8ation. We are on the pathway lo Ihls impact. The work of TMC Is led by Creative Mentodng and we want to develop the other arm8 of activity- our Mighty Employers and Youth Volce programm&s - to achieve the rèaGh and extent that Cr&aliv9 Menlorlng has been su¢ces8ful in providing. As Is evidenced by this report, I can confirm that TMC is currently In a strong position both flnanoi8lly and in terms of Ils staff team whlch we have a180 been able lo expand due lo the Successful awards and reach and complexity of our delivery. We have moved lo maintaining six mnlhs of unrestricted reserves 8nd can look forward with confidence In providlng the ambitious programmes of support, awareness and omployment for our cllenls and partners. 18m wnfident that we can grow the reach of activity and demonstrate the value of the work of the organisation. i.}l. Prof Christlne Whlte Chair of Trustees Signed on behalf of the Trustees Psge 4 Ml8k¥y INTRODUCTION The disproportionality foryoung peopla in this country In tems ofopportunitles and life chances 8rg far totr vast. There ara far too n7any young pgople falling through the gaps 8nd we are getting to a stage where just listenlng lo the voices ofthese young peopl8 is not enough. (Hannah, Youlh Board member) 202312024 marked a crlllcal turning point for our charlly. Shiyn of Arts Council England National Portfolio investment in late 2022 for the first lime in ils history, we had a stark choice to make.. curl up and fade away or regather our energies, strike out and make our work a8 vital and compelling as ever. Fortunately, we chose the latter Option and with the support of our stak6holders, the wider TMC team and most critically the young people for whom we exist, we carved out new paths for ourselve8 over the year and are now able to look forward poslllv8ly for not just 202412025 bul for the next five years. Thls Is reflected in a new S Year Business Plan whlch was ratified by the Board of Trustees in January 2024. This Annual Report reflect8 Ihe Ghanges we made In 2023124 and demonslrales the rude good health of the organisation al a Ilme when many previous cultural organisations have gone to the wall due lo an ever Increasingly hoslilg 8¢onomlo climate But Ihls report about our work 1$ not merely about ug 98 an organisallon. It's also abo￿ tha young pèople we serve who continue to be front and eentre of all that we do.. so let's start there. The Ca89 for Support: the Inequltlo8 of 80¢1al InJu8tl¢o Slgnificanl social injusllca haunts the young people who ar& the beneficlaries of our charfty as much as11 dld for previous generations. The IuGky ones will be confldenl In their use of the Internet, portable digital technology and Artlfl¢ial Intelligen¢& IAII,. their shadow peers are not neces8arlly digitally lilerale and may have found themselves on the wrong side of the Dlgital Education Divide. especially if Ihay live in more rural or economically dlsadvanlaged areas. Current generations of young people - referred to as Gen Z and Gen Alpha - lend to show a greatèr awareness and diagnosis of mental health conditions and sleep deprivation is more fr8quenlly reported They are also more likely lo be dlagnosed wlth Inlelle¢tual disabS111ies and psychiatric disordgrs than older generations. www.arts rofe n)l.co.u unda news I -SO-lorm os.hav l-be -closed.201 3 Slosp Disordèrs In Adoles¢gnls Pedlatri¢s. American Academy of Pgdlatrlcs. 145 Isupplwnellt 21.. $20 S209, 1101.'10.15421peds.2019-20561. PMID 32358212. 4 Maulik, Pallab K.; MA$carenha$, Maya N.. Malhers. Colin D.; Dua, Tarun,, Saxèna, Shekhar120111. Prèvalence of Intellectual disa￿lity.. A mets.anaty$i$ ol populstloTrbased studies. Rese8fth in Devslopmental Dlsabj'lities, 32 121.. 419436. Page 5 '.CYeit¥'iVes:. > Our beneficiaries have experienced more than their fair share of 80cial deprivation and poverty in recent years.. OLtr Stakeholder Engagement Strategy ir) 2023 for example demonstrates that 440k of organisalions w8 have worked with are in areas of the flTSt lo the third deciles of th& index of multiple deprivation. Whilst the phrase 'Children In Need, is useful shorthand, our beneficiaries com8 from a wider constituency than that term affords . They experienc8 significant disproportionate disadvantage, includlng heightened isolation, compromised mental health, lower aitainment and lack of opportunities. These social Inlu8tices have di8proportionale effects on the socl81, emotional and educational outcomes of our beneficiaries, although they are complex and neither easily dlagnosed nor predictable. Young people are indlviduals after all. and any intetvenlion planned lo support them musl be bespoke, personalised and Involve those young people Ihemsefves at the heart of their design, implemenlalion and @valuation. Personalised inlerventlons requlre a pedagoglcal approach which value9 'youlh voice, al ils heart. TMC has had youth voice in ils organisational DNA slnce it was established In 2009. Since developing our unique 80cial pedagogical model driven by artisllc, creative and cultural pracllce, this makes us leadets in this field across the UK and in a strong poglllon to addres8 and challenge th8 Social inluslices our beneficiaries face. There18 a waalth of evldence that demcn$lrale8 how cultur8 can 8UPPOrt yOLtng people In need by provlding acoess to personal development, social conneclivily, edu¢alion, social mobillly, ¢ommunlly ¢ohesion and employment. Learning through arts and culture develop8 sklll8 and behaviour that conlribules lo youn9 people doing beller in their education journeys. Engagement with arts and culture at a young age al80 conlrlbules lo improved social connectivity and mobility.. and In these pandemic-infu80d tlmes, the health and well-being benefits of young peoplè'8 partlcipallon in the arts and culture are well documented.. those who take part In tho arts are.. 38% more likely lo report good health. 8 68% olugaTrlsalion$ WO WQTk with a￿ locabd in areas ol tho flrni to the ffflh dedks of th8 Indox ol mulyple depr￿atIOn, 15n 7 young people ag￿ belween S and 16 exp8rbnce on8 episod• of acro$$ the UK.. wilh 30% more young peoplo in care In 2020 than Ih8r8 wem in 2015. 18•rridgo, D. et al.12020, Apr 271. Chlldien in Need and Children In ca￿.. Educath'onal Attainment and Progress, Sthool for Pollcy Sludlès Brl$tol Povorty In8titutg, Unlverslly of 8ri8tol.I en referonclTrg cmativily, wè UB& Arts Council Engl8r¢d'8 d8finllion'. 'Crealivity' des￿ibeS the process through whl¢h peopl6 apply thair knowledge, skill and inluillon lo Imaglne, concelve, express or make som8thing that wasn't there before. 'Cuiiure' means 811 those area5 91 activity associated with the artforms and orgsnls2tlon$'. co118Ctlon6, cgmblned arts, danc&, libraries, literature, mus•urns, musl¢. Iheatr8 end the ￿sual arts. B Imaglnè Nation- The Case lor Cultur81 Lèarnlng, Cultural Learnrng Alian¢8, 2017 Pap8 6 'cYéAi*.ivesl:,;; feel that engagement with the arts promotes a sense of personal well￿Ing. Nearly h8Ff of young people Surveyed {45¥•1 Say that the arts help them relax and reduce stress Covid-19 has shown that creativity and cultural experlences are fundamental to the lives of young peopl8 and to the culture of schools and should be an e88ential parl of the return lo in-school education.10 TMC is uniquely placed lo provide arts, cultural and creatSve experiences whlch countsr social injustice due Ici our impressive track record and expertise in.. Co-creatlng artistic anrl cultural inteNenlions wlh children and young people and other stakeholders that can be scaled up, demonstrate reach and result in significant and measurable impact. Inv8sling in children and young people's creative skllls, knowledge and practice Leading strategic parlnershlps, engaglng stakeholders, d&signing and managing programmes of arts, cultural and creallve acllvlties. OurVl8lon and M1881on 11 is crystal clear that the arts, creativity and cultural edu¢allon have a fundamental role in supportlng young people in ¢ounlering the Impa¢l of 80cial Inlusti¢e. That need has become more demanding in recent years. and we now need lo ensure that this is expressed at th eart of our refr89hed and relnvigoraled vision.. Soclal Ju8tlce for young people through arts, culture and ero8tlvlty To achieve IhS3 vlsion, our mlssion has four strategic obj•¢lives {SO) and assocbaled SMART oulpuls over the flve years of this buslness plan as follows.. SO No. soi Strate icob •c￿V#S To Iranslorm the lives of our ben8llclarie8 through one-to.onè and group-based Crèatlvo Mentorlng serviee$. S02 To prDvide support. advice and opportunities lo employ8r8 whiGh assist our beneficiarles, omploymenl prtsspects and enterprise opportunities through our Mighty Employers SeNIcoS. S03 To insplre our beneficlarles lo expre55 them8&1ves through th& power ol crealivily and lo work with Other slakehold8rs lo su ort best rac1￿@ oulh4ed a roaches 9 The TALE ITrBcklng Arts L•amlng an(J Engagemgnll Study.. a Ihree-y¢•r r6se£rch progr8mm8 which anolysed 6,000 re8ponse5 from yvung pgople aged 14-18 2018, produced by the Royal Shake5P8are Company, Tate and the Universlty ol Nottingham 10 2nd Report, Durharn Commis$lDn on Cr8atlvlty Education. Durham un￿er61fy, 2021 Pap7 18kty which foster meanlngful cultures that plae@ youth voice al the heart through our Youth Volce sfyrvicès. To $uslain and grow Investment in our work frorn across the UK and inlèrnalionall S04 SMO No. SM01 SMARTOut uts Engage with 10,000 children and young people in need engaging acros8 all our services and cam ns Sustain and grow our pool of Cr&alive Mentors Ihrovgh largel8d recrullmenl su ortin 500 creative raclilion&rs. National adoptlon and delivery of CM.. the seNice will be delivgrod across all 10re ions across the COLtnt Recruit 200 Employers lo the Mighty Employers employabillly sgrwG8s SM02 SM03 SM04 SMOS Deliver 300 CPD se3sions inGludlng training and development opportunities, workshops and networking sessions for educators and creative practiliongrs lo develo thoir child I oulh-led créative raclice. Support and grow the TMC Youth Board with YP drawn from all 10 reglon8 across the count ort the Youth Board lo dellver S ulh-volcg f¢xu8ed Diversify and su51aln our income sourGes so no one funder is more that 500 on our overall incom8 Maintain our resèrves oli 21 slx month8 runnin costs Build a £10m Endowrnenl Fund 10 See us throu h 2030 onwards SM06 SM07 SM08 SM09 SM010 OPERATIONAL REVIEW °18m honour&d to be able to be 8 part ofsuch an important movement alongsido a ch8rity who truly understand wh8t it means to bé in the shadows and want to work with thes& young people to help thom to find the light.'_ Hannah, TMC Yjuth aoard The highllghl 2023124 has been the winning the Third Se¢lor Award for Servlee Innovation In September 2023. This was awarded because we.. Remodelled the charity to secure our longer-lerm 8uslaSnabillly and lo reach a greater number of beneflciaries both geographically and demographically. We placed even greater focus on supporting children and youn9 people experiencing disadvantage through our core Creative Mentoring, Youth Voice work and Mighty Employment services. Responded lo demanol from other sectors, e.g. o the Home offi￿ Prsvenl Programme to apply for the Preventing Radicalisalion Grant Initiative for our Creallve Mentoring s8rvice the Great Ormond Street Hospital l UCL initiative. SPROCKET, which is engaglng with our Youth Voice expertise to hear the experiences of Pag9 8 Mi8kEy chlldren with complex health needs in order lo improve their experiences of the Health Sector The Careers and Enteprise Company and Lelc88lershire Local Enterprise Partnership to inform regional and national pracli¢e on inclusive employment Commissioned research into our Creative Mentoring service.. the model, the impact, and young menlees, voices. Thls was supported by a comprehenslv8 market research project which Identified stakeholder perceptions of our Creative Mentoring service,. explored the market opportunity nationally in line with our business plan., and analysed the competitor landscape. Launched recruitment rounds lo grow our pool of Creative Mentors by 24 10 meet increased demand. We have extended our reach of CYP beyond the East Mldlands and are now delivering the service nationally. Extended our reach by delivering lo beneliciaries with a broader def+nilion of need, e.g. those referr8d to Prevent services, NHS CAHMS services, and chlldren from overseas. Grew our Mighty Employ•r8 network lo empower employers to provld@ high- quality opportLJnilies for young people aged 16-25 (who are care- experiencedlhave experl6nced episodes of needl. Our free pre-frmployabilily seNice, Employ ME, is a flexible, inleraclive, and persenalised online course for those young people lo support their future Ilves In education and work. We have also remodelled our entire organisation slnce April 2023 by.. Appointing a new Chalr of Trustees, Prof, Chri311ne Whlle, Deputy Dean of De Montfort University, Writing a new buslness plan which pla¢es a greater focus on benefl¢iarle8 who experience disadvantage and other soclal injustices Relocating our offic& to a smaller space in the LCB Depot to reduce our Gosts and accommod81e a smaller team, offering hybrid working for staff, while mslntaining a base for meetings and lo accommodate our buslness administration needs. Designing and implernentSng a new referral portal, built wlhin our CRM, which enables referral partners lo submit referrals for their young people. Here. they can also accfrss evaluallons, status updates and session Iracklng, via a digital system. Executing a brand refresh to help repositlon the charity and eomrnunicate its new dlrection. A new marketing strategy, developed In response lo the business plan and strategic objecllves, featured revised messaging and objectives with focus on $lorytelling of young peoples, voices lo support brand awareness on a wider national scale. Through our stakeholder research project cwe identified that stakeholders are highly likely lo recommend our creative mentoring service to other organisationslservices that work with young people, giving an average rating of 4.9 out of 5. The research ager7cy expressed these were the highest scores they had ever encountered. P8g8 9 Betweén April 2023 and March 2024. we have recorded the following 8galrbst our organisation KPIS.. Engaged 3,500 CYP as audience mpmbers and partlcipanls, in line wllh commllments $81 out in our EO&I Policy. Of those 3.500, 400A 11,4001 young peopl& who are NEET Inol in educallon emplDymenl or training} move from NEET to EET Ibelng in 8ducatlon employrnenl or 400 1,199 160 4P Of those 3,500, 20°1ts 17001 will be empowered lo lead culluial ¢hange In their lives, uslng thelr creallve leadgrshlp skllls lo improve Ihelr lifè Ghance$. 23 29% 100DA of our engagements wlll be with children and young people in neèd by 2028 as defined in our 2023-2028 8uslness Plan. 320 619 60 CPD 586slons dgvtsloped and dellvered per ygar. Including tralnlng and development opportuni118S. CM Supervislons, workshops and networking sessions for educators and creative practitioners lo develop Ihelr childfyoulh- led cr8allve raclice. SustsSnerl and grown our pool of Creative Menltsr8 through tgrgeled recruilmenl $upportlng 130 ¢realive pr8clilioner8 to develop Ihalr practice working spe¢ifically with CYP In need. Grow a youth voice community of praclicg network. with 18 active partngrs, dellv9rlng high-quality Childtyoulh-led approach8s across the region, resulllng In an increase of oulh-led interventions. Delivered 3 youth-led ev@n18 in partnership with the youth voic? network. embedding youth voica praclice through artnershi 60 84 90 62 91% 10 20 Page 10 DivBrsify our in¢orne sources 80 no one funder is more that 500A of our overall income. 90% 46% We achleved or overachieved in 7 out of our 9 KPI'3 for the year. KPI 2 and 3 were not as successful and thls is due to us focusslng predominantely on our Creative Mentoring programme through the y8ar, whilst we ¢ontinue to explore and develop our Creative Futures work. Financlal Suslainability For the charity lo contlnue serving the most unheard and disadvantaged CYP In society, we learnt from our previou5 ACE funding experience and introduced a key organisalion KPI lo ensure the charity'8 long-lerm sustainability., to diversify our Incomes sources so that no one funder contributes more than 50Yo of our overall income. The Gharity'8 Income is recewed from 72 separate Sources. Of those 72, the highest individual funder conlrlbules 46°/o of our total Income. In the year 202212023, the hlghest indivldual funder conlrlbuled mor& than 900/tr of our Ictal Income. A8 part of our rebullding strategy, the charlty has a healthy level of reserves that will secure our operallonal costs and seNice delivery for thé future. Currently, we are exploring sustainable methods with our Board of Trustees lo potentially Inve8t some of these reserves to develop our Mighty Employers Ne￿rk and Youth Vol¢e offerlngs, alongside bids for Trusts and Foundations funding opportunities. The followlng table compares our performance in 2022123 wSlh that irb 2023124 and shows some important trends.. In8titutlonal, Trusts and Foundatlons: Whilst the value of blds made in 2023124 was less than In 2022123. the success rates of thos8 bids was signlficantly highér. This r8ffècls the more focused nature of the businèss and the demand by funders f¢x our work Indlvldual Giving: 2023124 saw a B￿nifICant reduction on the ral8$ and lev81s of IndividLJal giving were seen this year. The lack of any larger scale campaigns. leg Mlghly Unmute, 2.6. Campaigns, Creative Heroes, the reductlon in the number of participating staff and the Ioss of the Income Generation role Contributed lo this d￿lIne. Corporate Donatlons: a signlficant Llecline was seen in this year, reflectlng the focus shifting lo grant applications and traded services. Traded Setvlces,. this area has grown 360k thi8 year, accounting for approx. 160/0 of our annual income for the year. This also reflects the more focused naluie of the business and demonstrates that we are provldlng Vltgl seTvices to our beneficiarie8. Pagè11 i8kty al Total appl*d for I: Institutional Trusts and Foundations bl No. cl Value of of bids.. succesful bids.. dl Success rate Iclal ' 1000/0 In 2023124 In 2022123 £3 152.789 £5,928 853 21 25 £1,179.615 £463 417 2: Indivldual Glvln 37.49/0 9.6Yo In 2023124 In 2022123 £312 In 2023124 £480 In 2022123 £9,150 4., Traded $ervice$ In 2023124 Cr8atSve Mentorln £223 257 In 2022123 £183 731 3: Cor orate donatlons referra18 Youth Voice Consultan¢les etc. Youth Board In 2023, we welcomed 3 new Youth Board mernb6r8 wlh Ilved experience of the children and young people we serve, inclLJding those with mental health Illnesses neurodlverslty and social deprlvalion. We support our Youth Board members with opportunities for learning and career development. One origlnal Youth Board member 18 now working as a full-lime member of TMC'S staff team In a Youth Programme Coordlnalor role, while another has been supported lo develop their creative praclicg and has recently been accepted for the freelance role of Creative Mentor. National Partnerships A8 part of a jolnt project with Arts Connect in the West Mldlands, we are providlng free training programme for 25 cultural organisation8 aeross the Midlands to aid and embed a deeper understanding of how lo aulheTrlically engage care-experi8nced CYP in their work. Tralning will provide sessions on Tr8uma-Informed Practice and Attachment Theory, Under818ndlng the Care Experience, Safeguarding Best Practice and Empowering Youth Voice Through Creallve Pra¢lice. E￿￿pean partne￿hApS Following a successftjl application to Culture Bridge, we have Secured fvnding for an exchange programme with Werkhaus, an organisation based in Krefeld, Germany. This progr8mrne will see the sharlng of both organisation's expertise and best practi approaches in developing cultural and creative programmes for disadvantaged children and young people in our respective countries. Page 12 Both organisalions have long-standing experience in supporting skills and personal development through cultural programmes. We want lo explore the differences in our working practices through direct encounters Milh each other. Each partner will get to know each othe¢s work and will be able to incorporate new cultural approaches into their own practice for the benefit of our communltles of children and young people. PLANS FOR 2024125 Our operational plan for 2024125 can be summarfsed as follows.. Programmo Actlvlty 1. Continue to advocate nationally for the programme by attendlng conferences Creative Mentoring 2. Marketing and promotion of Creative Mentoring lo new partners nallonally and inlernalionally 3. Research licencing and franchise options 1. R&searGh"Employabilily what do young people need? 2. Establish connections lo between our Employ ME programme, our Mighty Employers Nsknrk and Youth Voke Ne￿Ork 3. Implement Actions and recommendations from Research 1. Annual Youth Board event Implement recommendations from EUCLID- Exploring Europe report by researching three potential new market places in Europe, Furth8r delalls can b& segn here.. Mlghly Employers Youth Volce Organ18alional 0￿ratIOnal Plan Q1 Q2 Q3 Q4 Strategic Development Advocating and ralsing profile of Creative Mentoring I per8on-centred practice. Creative Mentoring CLtltivate eurrenl Creative Mentorlng 1..1 $erv through grant support and traded income- throughout year ' Cultlv8té means only new partners where the funding is sufficient to bring in additional resource Page 13 CYeok.Iv,es'. Promote My Creative Track Review Creattve Mentoring group work in Schools and best ways lo approach followin CM - Virtual Schools Cultural Partnership Project with Arts Connect Sustaln Mighty Employers nethrk Mighty Em￿0YerS Research 'Employabillly" what do young people need? Connecllons to Employ Me Youth Voic8 Youth Board Event in May Review Youth Volce Network including how il Ilnks lo Mighty Employers Network. j,'¥i Youth Voice Projects Let's Craft Let's Craft Summer Dec 24 24 Let's Craft- May 24 Explore options for continuing with Let, Craft? UCL Sprocket Cultural Bridge vislt- Nov 24 Organlsall onal Cultural Brldge Implement Actlons and recommendètions from EUCLID Report- Year 1 Apr 24 Impact and Oata Strategy Our Theory of Change explains how we work slraleglcally and coll8boralively lo deliver our Strategic outcomes for our beneficiaries. It provides a summary of the Changes that will occur and provldes the context for our service developm8nl and delivery plans and is available upon request. Pag& 14 l8kty Our values are inspired by the woth of Munira Thobani and her work on the Thobani 6C Self Audit Tool. We strive for these values lo be evident in all aspects of our organisalion., govemance, leadership, programmes, income generation and operation8 and protssses. Our Youth Voice strategy 18 available upon request. Measuring and communicating our Impact enables us to.. Demonstrate our commitment to change our servlce users and stakeholders. Better engage wth our funders and stskeholder5 by clearly 5howlng how Ihelr investment In our activities and services is driving positive outcomes. Allracl new sources of income by demonstrating and evldéncing our effectiveness and impact. Engag& new and exlsling partners whose vlsion of impact align with our own. Marketlng Strategy Our marketlng strategy responds directly to the oble¢tives outlined in this busine88 plan and lo the insight gained through our 202312024 market research project, 11 delalls our approach to strategic positioning. uslng 8 range of models and frameworks. and how it aim810 enabl& U8 to reali$e our vision. A detailed Markoling Strategy is availabl@ upon request. Income Strategy Our income generatfon slraiegy18 bulll upon four strands of aclivSty.' Inslltullonal, Trust and Foundation Grant Funding Indivldual Glving (campaign and Major Oonations) Corporate Partnerships Traded Servlces ISale81 The budget for 2024125 Ss as follows.. Income Confirmed Income 657413 Investmenl Income Fundraisin Total Income Ex enditure 263 451 941 864 Pro ramme Deliver Confirmed 487 006 Pro ramme Deliver Unconfimed Page 15 Cv;eokiv.es,':; er8tional Costs Staff & Overheads 414 858 Total Ex endlturn What's the team? We are governed by a Board of Tru81ees, who are also the directors of the limited company. Trustees can serve from the age of sixteen. The Board is r8sponsible for the scrutiny and examination of organisational performance. Trustees meet quarterfy to monllor risk, agree strategic dlreclion, approve bLtdgets and financ8 reports and endorse new and review existlng policies. The Board ensur&s The Mighty Creatives reporting obligations to the Charity Commission and Companies House are mel. 8ub-Committee¥, Pollcleg and Proco88e8 Our policles and pro¢gs8es are review6d in line with our policy matrix and signed off by the Board. We have a measured and thorough approach lo safeguardlng, ensuring all 8laff and Board recelve Iralning from NSPCC and regular brlefings. Safeguarding and EDI {equality, dlversily and incluslonl are standing items on our agenda and are oversaen by a d$signaled member of the Board, a$15 our assessment of rlsks. The Mlghly Creative5 Operations and Finance s￿b-CommIttee scrulinises the charlly's approach to flnance, staffing and operations. The commlttee meets separately, feedlng into the main Board for sign off on a quarterly basis. Led by Professor Chrlsline Whrte, Chalr of Truste&s and Emrys Roblnson-Green, Vlcey Chalr and Chair of Finance. our Iruslees have extensive exp8rienGe and expertise In the arts and cultural sector, educallon. local authorities and private sector and bring wide range of governance skills lo bear.. leadership, fundraising and financial control. marketing, pedagogy, innovation. cultur81 educational practice, arllst development, collective impact modelling, heritage, theatre and product development. They also reflect the geograph￿Cal diversity cf the region which the company serves. The Trusteos dalegale the authority of running the company to the senlor leadershlp team of Chief Executive, Dr. Nick Owen MBE. He leads th& Business Development Team of Business Manager, Head of Programmes and Marketing & Communlcations Manager. Concluslon Whatever aspect of clvic life we consider, the fact is that the lucky ones wlll survive and thrive in the challenges that they're facing. For those in the shadows, however, il's tough Pdge 16 tsnough to S￿￿1Ve and thriving is a ILtxury. This 1$ not to say they are passive victims In lrfe'$ ballles.. they survive and thrive because of their lived experiences which give them strengths and powers thal they may not yel be fully aware of and which are essenllal in ¢ombaling the Imp8cI that social InjusliTr is having on them. So. if there ever was a time for The Ml9hty Creative8 to step up and rebalance those so¢lal ILl8tice inequallll8s with them, then that time is now. Through arts, culture and your Creativity, we can help unlock their personal strengths and powers and in doing $0, help improve their health and wellb8ln9, their cognitive abilities, their social connectivity and thelr Ilfe chanoes in general. We want lo work with them lo enable them lo slep out of the 8hadow$ into the sunshine of a civic society in which their Ilves become wlnessed, visible, audible and valuable,. and enable them to equltably access the wealth and opportunity they are entitled to. Prof Chr18tlne Whlt• Chair of the Board of Trustee8 Signed on behalf of the Trustees on 314t July 2024 Pagt 17 ,CYe'rtEiV.es DIRECTORS, REPORT The directors, who are also the Iruslees, present their report and accounts for the y8ar ended 31 March 2024 LEGAL AND ADMINISTRATIVE INFORMATION TMC is a company limited by guar2nlee, without share capital and incorporated on 1 sl July 2008. We were also granted charitsble status on 3rd Aprll 2009 a8 an educallon81 charity registered in England and Wales, Our governing documents are included wilhln our Memorandum and Articles of Association. The company is led by a strong groLtp of Trustees who have extensive experience and expertise in the cultural. educatlon and commercial sectors and together bring a wlde range of governance skills lo bear.. leadership, fundraisillg and financial control, markellng pedagogy and innovation. They also reflect the geographical diversity of the region whlch the company aims lo serve The Trustees are led by the Chair, Chrlstine Whlle and Vice Chalr and Chalr of Operallons & Finance, Emrys Roblnson-Green. We are grateful to all the Trustee5, ligled on page 3, who held office during the year. Our Trustees meet quarterly lo agree strategic direction, receive reports from staff, approve budgets and finance reports and endorsè and revlew policies. The Operations and FSnance Committee, a Sub-committee of the Board, meets at least four times a year. Its function is lo scrulinlse budgets and finance reports In detail lo safeguard the flnances cf the organisalion, manage and review risks. The Commlllee also deals with 18sues such as pay levels and child protection. The Committee reports to, and makes recommendalion81o, the Board of Trustees. Al the end of March 2024, there were 8 Servlng Trustees on the Board. Under the terms of the arti¢le8 of a8socialion, Trustee8 may serva for two terms of three years, with the Board having discretion lo agree to a further three year term, bringing the maximum teim lo three terms of three yaar8 duratlon. Trustees regularly addres8 skills and knowledge gaps with appointments open lo any suitably qualified member of the publlc. Trustees are appointed through Board recommendation or a formal recruitment process comprising advertislng and awaren858 through social media, similar lo that used for the recrullmelll of staff. All newly appointed Trustees receive instruction on the activities of the charity and their responsibilities as 8 Trustee. They also have opportuTrilies to see work in the field and we have proactively built Ihls into the meeting8 8lruclure. All Trustees give of their tim& freely and no Trustee remuneration was pald in the year. Details of Trustee expenses are disclosed in note 8 of the annual accounts. Trust$es are required to disclose all relevant interests and register them with the Cornpany Secretary and, In accordance with our poliGy, withdraw from decisions where a conflict of intsrest arises. P8oe 18 STATEMENT OF PUBLIC BENEFIT Our Trustees and senior staff are responsible for making sure everything we do is focused on achieving lasting public benefit, as defined by the Charity Commission. Our governing documents define our core objectives a8 To promote such charitable objects and purposes forthe publlc benefrt 8$ the Trustees think fit, particular and without Ilmitgtion, to the generality of the forgoing words to advancg the ￿uCatIon ofchildren andyoung p&opl& and those who work with thgm through cre8tive 8nd cultur81 activities. We review our publlc benefit and charitable purpose on an annu81 basis. RESERVES POLICY Our Trustees review our reserves pollcy and levels on an annual basls, In the context of an ever-changing organisallon and Its working c8Pltal requirements. The policy stales that minimum of three month's 81affing and infrastructure costs should be held in reserve. We have limlled scope lo pul money to reserves, Wlth most of our Income comlng from restricted fundlng. This ye8r TMC surpassed ils minimum raserves largel and al 31 March 2024 holds £925,869 of unr8$lricled funds12023- £778,817). The Board of Trustees allocated £571,357 of these unrestricted funds lo be deglgnated funds to support the organlsalion until 31st March 2026 as part of il'8 Iransllion plan following the unsuccessful NPO Arts Councll England bid. GRANT MAKING POLICY TMC make8 grants to schools and other organisalions working in the field of culture, creativity and enterprlse, The nature and slze of the grant is solely dependent on the slze and nature of the fundlng that TMC received from funding bodies to d￿trIbute. MANAGEMENT AND ORGANISATION The daily responsibility for leadership of The Mighty Creatives rests with our Chief Executlve Dr R N Owen MBE The Chief Executlve is supported by the Business Development Team, whlch is made up lo Busin@ss Manager.. Carollne Frankland, Head of Programmes.. Ernily York and Marketing & Communications Manager.. 8elhany Patience. Key management pewonnel remunerallon is detemined with reference lo the rnark&l place. It is also determined by assessing the overall salary costs of the company and ensuring that salaries reflect the nature of the work, the company structure, and sectoral expeclalions. Remunerallon is agreed al Board level. RISK MANAGEMENT The Trustees have a rlsk register in place which addresses the major governance, operational, financial, repulation81, legal and regulatory risks that might impact up the core Page 19 Ml8kky purposes and key objectives. These risks are managed by a comprehensive sel of policies Isubjecl to review) and long slandlng practices, Set out in our Employee Handbook. The most sign￿ficant risks we faced in 2023124 were of a flnan¢ial or operational natur8. rhey are surnmarised, along with the relevant rniligation measures, below., tn5urk¥1hiiiivdiTdthÈthsir+ Ih¥JWIfflK•4.CIM,Sknr Mi¥lMD¢d*buithtrsilunalllfftlWII 5114u•rd*prorfd&.Nffj*tt (￿liT¢?￿lI￿1￿lIi1￿lor Co¥￿b Danr 5M¥ P8ge 20 STRATEG￿ REPORT TMC receives Income through grants and contract8 for servlces which are ba8ed on fundlng agreements for variable lengths of time. Activities are planned over the Ilfe of the individual project which ensure that all alllicip8ted income is spent, except for retainln9 8 prudent amount in resetves if the granl permits this. In order lo preserve the liquidity of the organisation we do not currently invest income for more than one year. The strategy therefore is to relain funds as cash and place them in bonds or other bank deposi18 81 the best rate obtainable. Having been through an intensive period of organisallonal development over the last 12 months, the charity hag determined that it is eurrenlly in a strong p0511ion to dev8lop its income genèration activities to direct the future growth and sustainability of work in the region. The ¢harities Income Generallon Stralogy is a fundamental component of The Mlghly Creatlve's ongoing slrateglc development. The key aims of the Income Generation Strategy are lo dlversify the charlty's income, to Improve ils financlal 8uslainabilily,' and to pul prO￿dur88 in pl8ce for effecllve long-term fundraising management. 4 core strands of Income g8neralion actlvity have been Identified as the key areas lo focu$ the Charity's incom6 generation effort8.' 1. Inslltullonal, Trust 8nd Foundatlon Grant Funding 2. Indlvidual Glving (Campaign and Major Donations) 3. Corporate Partnerships 4. Traded Servl¢es ISal881 DIRECTORS, RE8PON8181LITIES FOR THE A¢COUNTS The Dlreclors are required to prepare accounts for each financial year which giv& a true and fair view of the slate of affairs of the charity and of the surplu5 or dfrficll for that perlod. In preparing those a¢cour)Is the Directors are requlred to.. select sultsble ac¢ounting pollcies and then apply them consislenlly observe the methods and principles in the Charities SORP make judgements and estimates that are reasonable and prudent stale whether applicable UK accounting standards have been followed. 8ubj&ct to any departures di8clo$ed and explained In the finan¢lal statements,. and prepare the accounts on the going concem basls unless it is Inappn)priate lo presume that the charity will continue In business. The Dlréclors are rasponsible for keeping proper accounting records whlch disclose wlth rea80n8ble accuracy al any time the finallcial position of the Company and to enable them to ensure that the financial slalemenls comply with the Companies Act 2006, the Charities Act 2011 and other applicable law and regulations. They arè al80 responsible for safeguarding the Page 21 assets of the Company and henc@ forlaking reasonable steps forthe prevention and detection of fraud and other irregularities. The Directors are responsible for the malnlenance and integrity of the corpDrale and financi81 information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may dlffer from legislation in otherJurisdiclions. GOING CONCERN After making enquirles, the dire¢lor8 have a reasonable expectation that the company has adequate resources lo continue in operational existence for the foreseeable future. Accordingly, they Continue lo adopt the going concern basls in pr8paring the financlal slalernenls. Further deleils regarding the 8doplion of the golng b88is can b& found in note 1 of the financlal slalernenls. STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS So far as the director8 are aware, there 1$ no relevant audit Informallon las defined by Section 418 of the Companies Act 20061 of whlch the company's auditors are unaware, and each director has taken all the steps that he or she ought lo hav6 18ken as a director in order lo make hims$lf or herself aw2ré of any relevant audlt information and to eslabllsh that the company's auditors are aware of that informatiun. Slgned on behalf of th6 Oirectorg on 31￿ July 2024. Prof. C While Director Page 22 l8hty INOEPENDENT AUDITOR'S REPORT to the members ofThe Mighty Creative8 Opinion We have audited the financial stalewenls of The Mighty Creatives {Ihe 'company') for the year end8d 31 M8rch 2024 which comprise the Statement of Finan¢ial Activities, Balance Sheet, and Statement of Cashflows and notes lo the financial stalemenls, inclLJding a summary of significant accounting pollcies. The financial reporting framework that has been applied in their preparation is applicable law arbd United Kingdom Accounting Standards, including Financial RepDrtln9 Standard 102 The Flnancial Reporting Standard applicable in the UK 8nd Republic of Ireland (United Kingdom Gengr8lly A¢￿pted Accounting Pr8ctiC6%). In our opinion, the flnancial slalemenls.. give a true and fair view of the stale of the company's affalrs as at 31 March 2024 and of ils surplu8 for the year then ended., have been properly prepared in accDrdanc8 wlth Unlted Kingdom Generally Acc6pled Accounting Pracllc8', and have been prepared In accordanc6 wllh the requirements of the C¢mpar*les Act 2008. Ba818 for oplnlon We conducted our audit in accordance with International Standards on Audillng (UK) IISAS IUKII and applicable law. Our responsibilities under those standards ao further descrlbed in the Auditor's re5ponsibililies for the audit of the financial slalemenl$ section of 0￿r report. We are Independent of the company in accordance with ltte ethical requlrements that ar6 relevant to our audit of the financial statements in the UK, Including the FRC'S Ethical Standard, and w& have fulfllled our other ethical responsiblllties in accordance wth these requirements. We believe that the audlt evidence we have obtained18 Suffi'cient and appropriate lo provlde a basis for our opinion. Conclu8lon8 rèlatlng to golng concorn We have nothing lo report in respect of the followlng matters In relation lo which the ISAS IUKI require u8 to report lo you wherg.. the directors, use of the going concern basis of accounllng In the preparallon of the financial statements Is not appropriate., or the directors have not disclosed in the financial slalements any identified material uncertainties that may cast significant doubl about the company'8 ability lo continue to adopt the going concern basis of accounting for a period of al least twelve months from the dale when the financial Slalements are authorised for issue. Other infomiatlon The dire¢lors are responslblé for the other informatlon. The other infomialion comprises th8 information included In the annual report, other than the financial statements and our auditor's report Ihereon. Our opinion on the financial statem8nls doe5 not eover the other information and, ex￿p1 lo the extent otherwise explicitly staled in our report. we do not expfftss any fomi of assurance conclusion Ihereon. P8g8 23 In connection with our audit of the finawial slalemenls. our responsibility is lo read the other information and, In doing so, consider whether the other information is materially inconsislenl with the financial slalements or our knowledge obtalned in the audit or otherwise appears to be m81erially misstated. If we identify such m8lerial inconsistencies or apparent material misstatements, we are required to determine whether there is a material misslalemenl in the fi'nan¢ial statements or a material misstatement of the other information. If, based on the work we have perfomied. we conclude that there is a material misstalemenl of this other informatlon, we are required lo report that fact. We hav& nothing lo report Sn this regard, Opinlons on other matters prescribed by th• Companles Act 2006 In our opinion, based on the work undertaken in the course of the audit., the information given in the 81rategic report and the directors, report for the financial year for which the financial statements are prepared is consislenl with the f slalemenls., and Inancial the str8tegic report and the dlreclors, report h8ve beer) prepared in accordance wllh applicable legal requirement8. Matters on whlch w8 are requlred to r8POrt by excoptlon In the light of the knowledge and understanding of the company and its environment obtalned in the course of the audit, we hav8 not idenllfied malerlal mlsslatemenl$ In the Strategic report or the dlreclors, report. We have nolhlng lo report In respect of the followlng matters in rel8llon lo which the Companies Act 2006 requlres u8 to report lo you If, in our opinlon.. adequate accounting records have not been kept, or returns adequate for our audit have not b$en r6¢eived from branches not visited by us,. or the fin8nGlal slatemanls are not in agreement wllh the accounting records and Telums., or certain disclosures ol directors, remunerallon specified by law are not made., or have not r6ceived all the Informallon and explanations we require for our audit. Responslbllitie¥ of director8 As explained more fully in the directors, responsibilities statement sel out on page 25, the directors are responsible for the preparation of the financial slalements and for being Satisfled that they give a true and fair view, and for such internal control as the dlreclors determine is necessary lo enable the preparallon of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the ff nancial statements, the directors are responsible for assessing the company's ability to Continue as a going concern, disclosing. as applicable, mallers related to goir)g concern and uslng the going concem bssis of accounting unless the direclts￿ either intend to liquidate the company or lo cease operations, or have no realistic allernalive but to do so. PagFJ 24 Auditows responsibilities for the audit of ihe financlal statements Our objectives are to obtain reasonable assuran￿ about whether the flnancial statements as a whole are fre8 from materlal misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable 88$urance Is a high level of assurance. bul is not a guarantee that arb audit conducted in accordance with ISAS IUKI will always detect a material misstatement when il exists. Misslalements can ari8e from fraud or error and are considered materlal if. individu811y or in the aggregate, they could reasonably be expected to influence the economic decislon$ of users taken on the basis of these financial stalemenls. Extent to whlch the audlt was capable of detectlng irregularlues, in¢ludlng fraud Irregularities, including fraud, are instances of non-compliance with laws and regulations We deslgn procedures in lin6 with our respon8ibilill8s, outlined above, to delect material misstatements In respect of irregularities. in¢ludlng fraud, The extent to which our procedure5 are capable of detécting irregularitie$. includlng fraud, is detailed below.. We identified areas of laws and regulellons that could rea80nably be expeoted to have a material effect on the flnanclal staleMen18 from our experlence through discusslon with the Offi,￿r$ and olhor management las required by auditing St8ndardsl W8 had regard lo laws and regulations in areas that directly affect the financial slalements Includlng financial reporting lincludlng related trade union legi8lalionl and taxation legislatlon. We considered that exlenl of compliance with those laws and regulallons a8 parl of our procedures on th& related financial slalement items. Except for any known or possible non-compliancè. and as required by auditing st8ndards, our work Sn respect of the$e wa¥ limited lo enquiry of the Offlcers. We communicated identifi'ed relevant laws and regul8llon8 lo the business throughout our audit team and remained vigilant lo any indicatSons of non-c0mp1lan￿ throughout the audit. W$ addressed the risk of fraud through management override of controls, by testlng the appropriateness ofjournal enlrles and other adjustments., assessing whether the judgements made in making accounting eslimales are indicative of a potential bias. and evaluatlng the business rationale of any slgnificanl transactions that are unusual or outside the norrnal course of business. Our audit procedures were designed to respond to risks of material misstatement in the financial slalem8nts, recognising that the risk of not detecting a material misstatement due to fraud is higher than the fisk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery. misrepresentations or through ¢ollu8ion. There are inherent limltations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and Iransaclion5 reflected in the financial slalements, the less likely we a￿ to become aware of it. Identify and assess the risks of material misst*ement of the financial statements, Pa￿ 25 i8k17 whether due lo fraud or error, design and perform audit prO￿dureS responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provlde a basis for our opinion, The risk of not delecling 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 overrtde of internal control. Qblain an understanding of internal control relevant lo the audit in order lo design audll procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control. Evaluate the appropriateness of accounting policies used and th8 reasonableness of accounting estimates and related disclosures made by the directors. Concludè on the appropriateness of the directors, use Df the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainly exists related lo events or conditions that may cast significant doubt on the 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 thè related disclosures in the financlal statements or, ifsuch disclosures are inadequate, to modify our opinion. our conclusions are based on the audit evidence obtained up to the dale of our auditoff 8 report. However, future events or conditions may causa the company to cease to contlnue as a going ¢oncern. Evaluate the overall presenlallon, structure and content of the financlal 8talements, Including the disclosures, and whether the flnan¢ial statements represent the underlying Iran8aclions and events in a manner that achleves falr presentation. Obtain sufficlent appropriate audit evidence regarding the financial information of Ihe entitlés or businèss activities Wlthin the ¢cmpany to express an oplnion on the financial statements. We are responsible for the dlrection, supervision and P8rforman¢e of th6 Company audit. We remaln solely responsible for our audlt opinion. A further descrlplion of our responsibilities for the audit of the financlal statements is located on the Financial Reporting Council's website at www.frc.org.uklauditorsresponsibillties . This description forms part of our audito￿$ report. Uso of our roport This report is made solely lo the company's members, as a body, in accordance with Chapter 3 of Part 16 of th8 Companies Act 20￿. Our audit work has been undertaken so that we might slate lo the cornpany'8 members those mallers we are required lo slate lo them In an auditor'$ report and for no other purpose, To the fullest extent permilled by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. Pog6 26 Neil Co land FCA (Senior Slalutory Audilor) For and on behalf of RWB CA Limlled. Slalutory Audltor Northgale House North Gale New Basford Nottingham NG7 7BQ Date.. Paae 27 i8k+y Staten7enl of fin8ncial aclivjties Including Income and Expenditu￿ Account forthe year ended 31 March 2024 Unmi￿¢1$d lund& R•51rtd8d Totsl Total 2023 Nul INCOME Income from charllabl• actl¥lUo$ Income from olh•r Cons￿19nC￿ & Fundiokglr Invgslm¥nt Incorno 169,371 616,140 $85,511 2,223.556 4,643 643 24,751 16,361 16,M1 6.121 Totalln¢omo 189 37S 816 140 1 OOJ¥15 2 253 428 EXPENOITUR rnkn & und8rt2kon dlr8)I Creollve Menlorino Thè World Relmaglned ACE iiirtual S¢hDd8 Proje Slgffaidshliè County Counul- lilrlu4I Schod-AA Praiec4 ACE Tr8n8ilion Fundlno ACE Mrtsm8rk Support PQollingham City Coulldl- IncIL￿ St3flord8hlre County Councll- RègldeniL81 Homès Project Notiinohgrn City Counul_ Short 8rèwks Doibyshir6 County CounGII-Cr8aiive Mantoikng in Schods Rirtlond Councll- DIE Project $iaff¢rd5hire Counly Cauncll- DE Proletl Gwlhe In8111uie-eullurydl Bddge Other ProDramme 543.349 28,893 6.476 35.4B2 23.850 50 23,8S0 11,4691 23,795 937,866 123,483 3.662 63,557 2.600 6,633 6,683 70,967 70,957 4,039 190,14S 190,140 32 3,994 9.112 2,198 2,198 736 $18ftc0$15 a58ccIAted with èiY)VVJexp¢ndllur8 297,113 319.748 616,859 368,808 289,409 688,217 1,783.946 811,857 2,295,802 130,33 41,368 Support ¢ost• ¢onlrlbuiion$ lo Support Costs Tralnlng St8ff well* Resrulknenl Tra￿1 Tdephones & IT Leoal 8 professbnHI 88nk chaFo88 D4)Feclalion Inrryna gengratlon BU￿￿&$6 Oev8lopmant Rent PR and communitBbon8 LOCAI office ￿MInIs1￿tiOn In$ursnc8 Audit snd Arthunt&iw F8eB 133,8661 60 419 33,8$6 80 419 8.705 765 11,B66 23,648 48 1,201 4.805 376 48 703 996 763 996 262 9,089 7.920 18551 9,069 7.920 28,992 91 2,399 789 3,873 71,125 828 2,460 2.460 Page 34 •91rt(tsd Fund Re￿r1d￿d Fu 3024 2023 Gov6rnan¢è Twslee travel costs Tru51eo meeb.ng co$ts Yw51e8 Insurance 807 632 1.439 965 Total expendlture 42,323 650,715 693,038 2,368,388 STAFF ¢03T¥ 2024 2023 VVao88 ond 88IAiles Soclèl 8ecuthy co8 Oiher pen81on costs 264,2D1 19.254 5,954 289,409 448,164 45.444 18,249 611,857 The average number of employe88, Including part-llme, durlng the yèar was 10 {2023'. 16.51. No employeè eamed In excess of £60,00012020- Nil). The company opeffjtes a deflned contribution penslon scheme. The charge for the perlod was £5,95412023 - £18,249), There were oulslandlng contribullons of £Nil al the year end12023 £Nill. NET INCOME FOR TFE YEAR 2024 2028 Tlls18 8iaied afterch¥rgln9', Opgraiing leo8• COSI8- prop9rty Audllor8' remnewtlon As Budttors Other se￿¢&3 DepieGi81ion 8273 28,992 3,873 998 4.80 DIRECTORS. REMUNERATION No romuneralion was paid lo Directors for their services. Page 35 18kEy TANGIBLE FIXED ASSETS etylprneni Cost or valuHtIon'. Al 1 April 2023 69.629 1.393 Diswsals Al 31 March 2024 Depreclatlon.. At 1 April 2022 Charge foi the year Eliminstèd on disw$gL4 AI 31 M8Tch 2024 69,409 Nel book valug Al 31 March 2024 220 10 D6blors 2024 2023 Amoun1$ folllng ¢Ju8 withln on8ye8r Tiad6 dabtors PrtpAymenls and Income her debtors 240,272 149.ieo 1.4e4 11 CREDITOR8: AMOUNTS FALLING DUE WITHIN ONE YeAR Tr8d8 crtdiiorn Olh2r18xp5 gocbAI sewi Other crodlior$ DGf8ffed incomE 12) Acuued expensos 2024 2023 40,497 9,183 5,069 00,7SCI 122.99d 172,674 12 CRÈDITORS.. AMOU14T8 FALLING DLE AFTER MORE THAN ONE YEAR 2024 2023 Deferred Income OEFERREDINCOA41 At 1 April 2023 IKome deferred year- lorrdesse vAlhln on6y&ar INome deferr8d In y8&r- lor r4É8sè after more Ihsn one year Amount released In Al 31 MaiGh 2024 Pag8 26 13 Fu￿8 ANALYSIS Unrgthrfclad Rèilrtclod fu 2024 20 Tangible fixed assots Curienl qsseis fj17 935.483 617 1,256,974 193,1061 1,164A88 320.911 182,2931 236.e16 1.024,461 1172,6731 852,008 N81 asse15 925,869 14 MoveMeNT IN FUNDS Incomlng riBour A131 IAAr4b11124 2023 r•s(wJr Réitrlctsd fund8 Chlldren In Need-m&ln ry8nl Er85muB Wdl-8 CAF Rgsilivnce Fund O Slew4rt- SEND 5UhAnrdversary Erysmus DIARC Rulland Council VIrtU¥l 5th001 ACE ifjrtU81 Schtsts15 Project ACE ArtSrnBrk Supptsrt ACE Tran4llon St&fI￿1¥hIr8 Couniy C(wncil-WrtLP81 School 8i•ffordshira County Coundl-R8sklenlial Nolllngham Clty CouncAI- lrtlude Nollinoham City Councll Short Breoks Dtrbyghire County Coundl- CM In Sc*o)18 Slafford6hlrÉ County Courrtil- DE yoieci Ruii8nd Couocll- DFE Qoathe Inslllvle-cullural Brtdge Lelcesiersh1￿ County Councll- YoLAh Vrk8 Youth Ju81ico Bo£rd 20,985 8.826 335 36,943 169.9281 33B 36B 28.626 9.1￿5 7.280 128,628) 113.8251 23.927 IF,165 12,663 25,000 461,595 17,046 19,670 41,142 4,680 9,192 97.157 5S.691 4,500 4,596 5,888 616.140 125.0001 1461.5961 14.039> 126,2701 13.9>4> 18,8751 12,1991 2,301 73.191 j850,71SI u￿r￿trIc￿d fun Qeneral Designplvd Funde- Tran4lton 238,616 207,480 571,357 852.008 189,3Y3 142,3231 364.512 071.357 1,164NBS 1,005,515 693,0381 Page 37 15 DESCRIPTION OF FUNDS Children in Need Main Grant- To deliver 1..1 Creallve Menlorlng for Looked After Children In the East Midlands. The aim is to increase emlional resilience and the confidence lo make positive decisions, and lo improve relationships with friends and others. Erasmu8 Well-Be- funding lo work ￿th international partners lo support students emotional health, well-being and resili8nce in time8 of global crisis. Charities Ald Foundatlon - to support the sustainability and development of our Creative Mentoring programm8 which supports YP in Need who are transits'oning into employment, D Stowart- SEND Soth Annlversary - a donation lo support SEND schools across the East Midlands and to mark the 501h anniversary of SEND pr¢)vision within s¢hool8. Erasmu8 DIARC- fundlng to work wlth Intemallonal partners to build the resilience of young people and art communitle8 to the negative flnancial consequ8nces of the covid-19 pandemic, Rutland Vlrtual School- To support a 6-week proieGt exploring young people's stories of coming into care, to Influence and advocate for more support for Children in Need. ACE Vlrtual Schoo18 ProSect - To 8UPPOrt 3 Virtual Schools with plloting the delivery of Artsmark in a virtual schools context. ACE Artsmark Support - funding lo support the Artsmark Iransllion programme to a new provider. ACE Transltlon - fundlng to support the organi$ation as we Iransitloned from our SSOIBridge funding. Stafford8hlre County Coun¢ll- Vlrtual School- funding lo support the dellvery of Arts Award within the Virtual School. Stafford8hlre County Councll - Resldential Home Project - a project to deliver creallve mentoring within resldenlial homes. Nottlngham Clty Councll - Include- a pilot project lo radu¢e the risk of educational &xclusion. Nottingham City Councll- Short Broak8 - a project providillg support lo chlldren and young people with dlsabili116s. Derbyshlrg County Councll- CM In Schools - a pilot project to explore group mentorirkg in schools, Paga 38 Staffordshirg County Council - DfE Project - To dellver 1-1 Creative M8nloring for Looked After Children in Staffordshlre. Rutland Council - DfE Project- To d81iver 1..1 Creative Mentoring lo Unaccompanied Asylum-seeking Children in the Rulland area. Goethp In8tltute- Cultural Bridge - an exchange programme with Werkhaus, an organisation based in Krefeld, Gemiany lo share expertise and knowledge. Lelcestershlre County Councll - Youth Voice - a project to explore and demongtrate the arts and cultural offer that LCC'S Virtual School has lo offer for their children and young people, advocate for engagement in these a¢tivilies, and also advocallng for the arts as a eans to work meaningfully with them. Youth Justice Board lo lead a youth-voic8 consultation project as perl ot their training development8 for profe8sionals who are working wlh children and young people going through the Youth Justice and YoLtlh Offer￿Ing systems Dè81gnated Fundg - To support the org8nisallon untll 311t March 2026 as part of it's Iransillon plan folbwlng the unsuccessful NPO Arts Council England bid. Page 39