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2022-03-31-accounts

Ministry of Stories Trustees’ Report and Financial Statements For the year ended 31 March 2022

Registered Company Number: 07317370 Charity Registration Number: 1138553

MINISTRY OF STORIES TRUSTEES’ REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022

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CONTENTS Page
1. Trustee Board and Administrative Details 1
2. Introduction
A message from the Chair 2
A message from the Director 3
A message from a parent 4
3. Trustees’ Report
About Ministry of Stories 5
Our Reach 7
Our Impact 7
Our Neighbourhood 12
Main Activities – Achievements and Performance 14
Volunteers 24
Future Strategy 25
Risk 25
Financial Review 26
Reserves 30
Going Concern 30
Structure, Governance and Management 30
Statement of Responsibilities of the Trustees 32
4. Independent Examiner’s Report 34
5. Statement of Financial Activities (incorporating an income and
expenditure account) 35
6. Balance Sheet 36
7. Statement of Cash Flows 37
8. Notes to the Financial Statements 38

MINISTRY OF STORIES SECTION 1: TRUSTEE BOARD AND ADMINISTRATIVE DETAILS YEAR ENDED 31 MARCH 2022

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Trustees

Michaela Greene, Chair (appointed September 2021, former Vice-Chair) Régis Cochefert, Chair (retired November 2021) Simon Mott-Cowan, Vice-Chair/ Treasurer Anya Zhuravkina

Duncan Kilty (retired July 2022) Indigo Williams (appointed July 2022) Mina Marsh Nick Makoha Philip Watkins (appointed July 2022) Piers Torday Shân Maclennan

Director (Chief Executive) Rob Smith

Deputy Director Kirsty Telford

Registered Office 159 Hoxton Street London N1 6PJ Legal Advisors Morgan, Lewis & Bockius UK LLP Condor House 5-10 St. Paul’s Churchyard London EC4M 8AL

Accountants Counterculture Partnership LLP Unit NH.204 E1 Studios 7 Whitechapel Road London E1 1DU

Bankers HSBC PLC Lion House 25 Islington High Street London N1 6L

Independent Examiner Goldwins Limited 75 Maygrove Road West Hampstead London NW6 2EG

Registered Charity Name: The Ministry of Stories Registered Charity Number (England and Wales): 1138553 Registered Company Number: 07317370

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MINISTRY OF STORIES SECTION 2: INTRODUCTION YEAR ENDED 31 MARCH 2022

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A message from our Chair

This year was one of consolidation and growth for the Ministry of Stories, with the priority to root our charity back into a world that was beginning to stabilise after the global pandemic. We were determined to bring back a sense of normality to young writers, staff and volunteers.

However, having served as a trustee for more than five years, and following a supportive and smooth transition from our former Chair, Régis Cochefert, I know that the Ministry of Stories was never ‘normal’. It’s extraordinary. And we strive to keep it that way.

The Board were so proud of the way the team quickly re-established its place in the community on returning to in-person delivery. In response to local demand, they increased the number of free community writing labs, including two specific groups to support and

stretch our young writers.

It has been fantastic to watch the growth in the schools programme and to witness the variety and volume of creative writing projects being delivered to address school needs across Tower Hamlets and Hackney.

Under Rob’s leadership, we reached a remarkable 3,732 young people. A record high. Alongside this, we have a fuller understanding of the impact of our work due to our robust evaluation process and were proud to be awarded London Youth Quality Mark Bronze accreditation for the provision of high quality youth services.

Through our meetings, I have also witnessed the depth and commitment the charity takes to cherishing and championing the diversity of our community. In the year ahead, we will build a deeper sense of representation and inclusion, framed and focused by our new Diversity and Inclusion Action Plan, which has been created by a working group of staff, freelancers and trustees.

With our eyes on the horizon and the cost of living crisis compounding the challenges already faced by our community, we are determined to deliver our free creative programmes as a place for joy, discovery and self-expression. As a charity with rising costs, we hope you will feel able to help us to deliver this commitment. Thank you.

Michaela Greene Chair of Trustees Ministry of Stories

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A message from our Director

“I've really learnt how to create worlds with my mind and form characters that I can identify with or understand. ” Viola, age 12

This message from Viola says it all: The Ministry of Stories puts young people in charge of their own imaginations - to create the characters that they care about and can relate to - and the worlds they understand and are interested in.

Having celebrated my 3rd work birthday at the Ministry of Stories this year, I continue to learn from and be inspired by our young people.

They have a vital and valuable perspective on the world and having them back in person has been like rocket fuel! We know there’s more tough times ahead, but we are determined to be here to support them.

This year, working closely with the Board, we set out our strategic direction for the next five years, expanded our community catchment from seven to 10 schools and more than doubled the number of school projects. We also launched a number of pilot projects to push ourselves further, in addition to running our community programme.

Our first pilot saw the introduction of a new style of term, Time to Write , giving our young writers creative control to explore the forms and themes of writing they’re interested in. We’ve run this twice, the first as a pilot and the second which culminated in our first ever young-person lead Zine Fair. It was a proud day.

The second pilot launched a small, quieter writing lab, Space to Be , with a consistent group of mentors. This lab was for young people with additional needs. For the handful of members, it provided an important weekly opportunity for one-to-one support coming out of the pandemic and we will apply the learning to our community programme.

The third pilot saw us commission a greater number of artists from all art forms. We’ve worked with 37 artists, who have been creative catalysts for our programmes, and proven particularly powerful when paired with a writer.

As always, our team, volunteers, funders and supporters were the engine behind our young people’s success. We wouldn’t be the Ministry of Stories without you. Thank you.

Rob Smith Director

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MINISTRY OF STORIES SECTION 2: INTRODUCTION YEAR ENDED 31 MARCH 2022

A message from a parent

"Life is a gift and mine is no exception." Johnny, age 9

“At the end of last year we had a teacher feedback session on Zoom, in place of parents’ evening. Johnny's teacher gave us such astounding feedback about Johnny's writing at school.

“Johnny was present in the Zoom too. I think neither of us quite knew what to say but I know Johnny did feel proud. His teacher said it was clear he read a broad variety of books, but I think his accomplishment in writing is not only because he reads a lot but because of his involvement in your writing club and all that you and the mentors are teaching about writing.

“It's more than just getting the grammar correct (he corrects me all the time) or completing the task, it's how you help them to develop their style and, as his teacher put it, he has found his voice.

Also creative ways to answer a brief, for example today he was asked to write about himself but instead of "I am Johnny I am 9" etc. he quickly came up with a starting line of ‘Life is a gift and mine is no exception.’

I think that way of thinking he has learnt from your teachings. I wanted to share that with you and your team.”

Note from Victoria, a parent, Ministry of Stories, Community Writing Programme

Ssh! Young writers at work . Credit: All imagery contained in this report is by the incredible photographer and filmmaker, Jonathan Perugia. P.S. this is not Johnny

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ABOUT US

Ministry of Stories champions the writer in every child. Co-founded by author Nick Hornby in 2010, we help young people discover their confidence, imagination and potential through the power of their writing.

We develop self-respect and communication skills through innovative writing programmes and small group mentoring for children living in under-resourced communities, working in schools and at our dedicated writing centre in east London.

Over the last 12 years, we have supported more than 15,500 young people to harness their voice. In 2021/22 we provided creative writing opportunities to 3,732 children and young people.

We can be found hidden behind the secret door in our fantastical shop Hoxton Street Monster Supplies.

SECTION 3. TRUSTEES’ REPORT

The trustees, who are also directors under company law, present their report and financial statements for the year ended 31 March 2022.

The trustees confirm that the financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

CHARITABLE PURPOSES FOR THE PUBLIC BENEFIT

The trustees have given due consideration to the guidance on public benefit issued by the Charities Commission (Public Benefit requirement under the Charities Act 2011) and believe that the activities undertaken during the year provide public benefit while fulfilling the objectives of the charity.

The Ministry of Stories’ charitable purposes remain those specified in the Memorandum and Articles of Association.

1. The Advancement of Education – to advance education for the public benefit in writing and reading in all its forms.

2. Young People – to act as a resource for young people up to the age of 18 by providing advice and assistance, organising programmes of education and other activities as a means of:

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AIMS AND OBJECTIVES OF MINISTRY OF STORIES

OUR STARTING POINT

We believe that children in our communities have their potential limited because society does not value, resource or represent them.

OUR AIM

For children and young people to have a voice to affect change, using the power of their ideas and imagination to write brighter futures for themselves.

OUR METHODOLOGY

Through a range of innovative writing programmes and small group mentoring, we help young people discover and realise their own creative potential. Our methodology helps children and young people to gain confidence, grow in self-respect and learn new skills.

We have six core pillars which underpin how we work:

  1. Create inspiring learning spaces

  2. Provide individual support from volunteer mentors

  3. Deliver of effective writing programmes, led by professional writers

  4. Deliver publications and performances

  5. Create communities of writers

  6. Engage local communities

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OUR REACH

This year, we are proud to have supported 3,732 children and young people to become writers this year. Despite the continued impact of the pandemic, this is more than double the number reached in 2020-21 (2021: 1,643).

Of these, 91 young people (2021: 85) attended our weekly community writing programme which delivered 180 sessions (2021: 112) over the course of the year.

In addition, we delivered 22 school programmes (2021: eight) which more than tripled the number of sessions we provided to schools across primary and secondary schools in east London (343 sessions, compared to 105 in 2021).

Across our activity we achieved more than double the number of attendances to our programmes, achieving an all-time record of 11,907 attendances by young people (2021: 5,860 attendances).

OUR IMPACT

“Ministry of Stories has helped me to write even more and explore the different sectors of my creativity.” Anah, age 9

Using our Theory of Change as a base, this year we launched our new evaluation framework with the support of the Centre for Youth Impact and used this throughout our community programmes.

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The framework includes:

  1. Surveys and interviews with young writers, teachers, writing facilitators and volunteers

  2. The Stirling Children’s Wellbeing scale, measuring change in young people’s wellbeing

  3. An anonymous parent survey

Feedback from parents, children and volunteers has shown that children and young people have had fun as part of our programmes – unleashing their ideas and imaginations – and through writing, young people have been able to express and sustain themselves as they recovered from the pandemic and two years of disruption.

“Ministry of Stories has helped me to be confident, helpful and to do better writing whether I'm down or up - sometimes I'm sad but I can still do some - it makes me feel better, all my friends, especially the mentors makes me feel better.” AJ, age 8

Our Theory of Change identifies the outcomes we achieve through our writing programmes and we measure these through our evaluation framework.

Using creative writing as a versatile and inspirational tool, the children and young people who attend our programmes:

We also aim for adults - be they parents, carers, teachers or the wider public - to discover new talent and potential in the young people.

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Young writers’ perspective

“Ministry of Stories has helped me to think in a more creative and interesting way.” Olaoluwa, aged 10, A Time Traveller’s Guide To Hoxton

We expect the impact of the pandemic on young people to be long-lasting, affecting educational attainment, as well as wellbeing.

Over the course of the year, on average 33% of young people reported improved wellbeing scores and 98% of our young people said they felt safe at the Ministry of Stories.

Our end of term survey results of our young writers show that despite the challenges, overwhelmingly we have achieved many of the outcomes we aspire to:

‘Ministry of Stories has helped me by creating a safe space and to let my imagination run wild (don't worry my house is a safe space, this is just nicer and a place for me to have friends!).’ Amelia, age 11

87% of our young people created work they were proud of

“I'm proud of my life and my zine. I love my zineeeeeee!’ Lucy, age 10, Time to Write

“I am proud of making books that people enjoy.” Javarni, age 11, Time to Write

“I am proud that I was able to come up with ideas that could change the course of the project.” Marcel, age 13, Time Traveller's Guide to Hoxton

‘Ministry of Stories has helped me because I used to be scared to share all my stories but now I am not afraid to’, Nico, age 8, Time Traveller’s Guide to Hoxton

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● 75% of our young people developed new skills

“I'm better with sharing my ideas instead of keeping them to myself.” Eleni, age 13, Time Traveller’s Guide to Hoxton

“My teacher says my writing has improved, expanding my vocabulary.”Sabine, age 11, Escape Artists

“I have enjoyed getting to work with other people and feel secure.” Sumaiyah. age 12, Time Traveller's Guide to Hoxton

“I have learnt how to build up tension.” Matthew, age 10, Time to Write “My craft skills and imagination have improved.” Umar, age 9, Time Traveller’s Guide to Hoxton “I used to do half a page but now I can do 5-6 pages of writing.” AJ, age 8, Escape Artists

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Parents’ perspective

Our end of term survey results of parents and carers show that despite the challenges of the pandemic, overwhelmingly we have achieved many of the outcomes we aspire to. Of those who returned their survey:

“It was good to see how eagerly my daughter would go in to Ministry, and how late she would come out!’” Ruma, parent, community lab member

“Matthew hardly likes to read or write at home so I know Ministry of Stories helps him a lot. Thank you so much.” parent, community lab member

“Not only does Nina write better, but she's also more interested in writing and reading than she was before she started the group.” parent, community lab member

● 100% of parents said their child was more confident after taking part in Ministry of Stories writing programmes

“I've been surprised by my daughter's maturity in writing spectacular pieces and being able to read them in front of other people.” Ilenia, parent

“My daughter is very introverted but she has managed to join and continue to attend. She looks forward to sessions and is making friends.” Lucie, parent

‘It is wonderful to see how proud she feels when she shares her work and how proud and excited we feel when we see her work published. The events organised by Ministry of Stories have been amazing.’ parent, community lab member

“My girls Grammar and English lessons have become better thanks to you.” Bahar, parent, community lab member

“Cian's school report has come back saying that he has a great writing skill - and that has to do with Ministry of Stories” parent, community lab member

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OUR NEIGHBOURHOOD

I Come From - By Terrill, aged 11, Space to Be

I come from people going outside. I come from people talking normally and kindly. I come from the smell of people cooking when I walk home from school. I come from spring and the birds singing. I come from big buildings. I come from the taste of spaghetti and tomato sauce. I come from playing outside in the park. I come from Netflix, YouTube and Now TV. I come from animals. I come from animals that are capybaras and walruses. I come from animal research and reading. I come from the zoo.

At the Ministry of Stories, we believe the best way for young people to gain skills and realise their potential is through the power of their ideas, creativity and imagination. By providing the tools to young people and supporting them to develop skills for life, we are building a generation of young people who are able to express themselves, their creativity, ideas and imaginations. We believe giving young people access to a creative art form is vitally important.

When we founded in 2010, we chose Hoxton Street, Hackney as the location of our community centre because of the area’s exceptionally high levels of socio-economic deprivation - a situation that persists today. Just before the pandemic, Hackney was labelled London’s most-deprived borough (National Indices of Deprivation 2019).

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The BMC found “higher levels of neighbourhood deprivation were associated with lower arts, culture and heritage engagement.” (BMC Public Health, September 2021). We exist to reach the young people who can’t easily access creative programmes due to a lack of confidence or affordability.

Our community writing programme (after-school and Saturdays) is provided for free and is accessible to children and young people aged between 8-15 who live within a 500m radius of our writing centre or who attend one of 10 local schools in our catchment. These schools have levels of students in receipt of Pupil Premium which are significantly higher than average.

This year we continued to reach the young people in greatest need of our support: 81% of our young writers live in areas in the top 20% of income deprivation nationally (IMD data).

In addition to our community programme, Ministry of Stories works with schools in the London boroughs of Hackney, Tower Hamlets and Islington; all prioritised for their high percentage of pupils receiving Pupil Premium, who often face the greatest barriers to the Arts.

Following 12 years of working with young people, families and community stakeholders, we have a detailed understanding of ingrained issues across our catchment:

We are proud that our writing programme also reflects the rich diversity in our community: 80% of our writing programme members are young people of colour. 4% of our young writers are disabled.

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MAIN ACTIVITIES - ACHIEVEMENTS AND PERFORMANCE

“When I did free writing at school I couldn't think of anything, but since I went to Ministry of Stories, ideas pop up in my head.” - Heja, age 10

Our four key charitable activities carried out in the financial year 2021-22 included:

1. Community Writing Programme

2. Schools Programme

3. Skills Development (CPD)

4. Resources and Publications

1. Community Writing Programme

“Ministry of Stories has been an important part of Mahi's life and it has shaped not just her writing. Mahi has very fond memories of her years at Ministry of Stories, she pulls out her old writings and the published stories from her friends there from time to time to read them again.” - David, parent

Our Community Writing Labs sit at the heart of our charity, serving our local community and providing a space for innovation and programme development.

We started back in mid-April with a big celebration as we installed more than 50 Unexpected Poetry public art works with award-winning design agency make:good throughout Hackney as the flagship celebration of the online programme in lockdown.

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On launch day, Rob Smith, Ministry of Stories’ Director explained:

“I am so proud of the work our young people have produced, from brilliantly funny to heart-stoppingly poignant. These poems will stop people in their tracks and encourage them to pause for a moment. Despite numerous challenges and having to work online, our writers have approached this project with so much hope and optimism.

‘Our work at Ministry of Stories has always been about supporting young people to use writing as a way to share ideas and experiences. This project has helped our young people be proud of who they are and where they live and shown them their talent is worth bringing to life on a big scale.”

For the Summer term as we continued to recover from life in lockdown, we supported our young people to lead with their imaginations and ran our first pilot Time to Write programme. By September 2021, we returned to full in person delivery and launched 5 weekly writing labs, with a total capacity of 112 (Tuesday-Thursday, Saturday morning and afternoon.

Despite the continued health and high absence rates due to the pandemic and return to school, and additional closures due to further lockdowns, we were proud to support 91 young people in our community over the course of the year.

A Time Traveller’s Guide to Hoxton

A collective poem

8-12 group imagining Hoxton’s new leisure centre in the year 3000

The exploding VR game of anxiety The zero gravity room of carefree The exploding robot of excitement The boring invisible lift of sadness The superfast waterguns of upliftedness The superfast lift beyond the universe of astronomy The slimy flippers of discomfort The super flippers with safety in tact The reflecting goggles of sadness The monstrous treehouse of safety

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Highlights of 2021-22 Community Writing Labs include:

“I was proud of my shouty work.” Hivda, age 8, Time Traveller’s Guide to Hoxton

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the artist himself. Knowing that their creations will be part of the physical fabric of their local spaces is a source of immense pride and achievement for our young people. The fence will be installed later this year.

Zine Fair, open to the public, Spring 2022

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The Runner’s Anthem by Rita, aged 10, Word Fence project

This park was The winter, summer breeze This park was And forever will be This park was The fertile flower fields Lilacs, rose, sunflowers, daffodils and daisies Bats, foxes, crows, toads, and grass snakes Slithered through the dark This park was The beige house and the purple door There stood a convent and an orphanage Sad as ever could be, the residents dreamed That the convent became the potter’s house And the orphanage a nursery This park was Until it was bombarded by bombs Running past this fence You stop for your lungs’ sake But you discover yourself wondering About the beige house with the purple door, About the convent and the orphanage, About the bombs landing. We congratulate you for your efforts And thank you for your time Now, I see you’ve caught your breath So run along But as you move on Just think… think… think… Flower gardens Hibernating animals Running people Rows of houses The old Shoreditch Park Was like an uprooted weed From now on It’s the fresh lilacs and roses Planted in the soil

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2. Schools Programme

Our Schools Programme took a significant step forward this year, reinforcing the Board’s decision to move to a freelance model in order to scale up and deliver the reach of our ambitions to grow in this area.

Through the investment of The Mercers’ Company in our Education Programme Manager role and their support towards the wider costs of the programme, we have been able to develop the consortium of schools in Tower Hamlets and our schools programme delivery commenced in September 2021, following a delay due to the pandemic.

Aims of the schools programme:

  1. Establish a new consortium model with a group of schools in Tower Hamlets

  2. Support schools to commission bespoke projects

  3. Re-launch our one-off workshops

  4. Encourage our existing associate schools to continue their relationship, by renewing annual or extended contracts

To deliver this expanding schools programme, we have diversified our creative workforce and by 31 March 2021, had grown our pool of freelance writing facilitators to eight under the leadership of our Education Programme Manager. We are set to expand this further in 2022/23. Our writing facilitators are themselves writing practitioners, but also bring a range of art forms into our organisation. Through the successful diversification of art form and growth in the number of facilitators working with us, we have been able to programme more flexibly and respond effectively to the needs of schools and their young people.

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Examples of the needs our school programme have helped schools to address include working with a group of girls with low confidence who rarely speak in front of their peers in class, through to a group of pupils who don't consider themselves to be writers, and students with low self-confidence and self esteem who didn’t feel they had something important to say.

We are proud to have worked closely and flexibly to deliver 22 school programmes (increased from eight in 2021-22) and were successful in achieving our target of ten schools in the Tower Hamlets Consortium.

We have also commenced delivery of the UBS funded programmes - Speak Up and Write Hackney including Bridge Builders - and delivered two pilot Story Making residential projects with Manorfield Primary at their Residential Centre, Gorsefield. Although we have run a number of one-off workshops for schools, our priority has been to deliver in-school writing programmes.

Highlights of 2021-22 School Programme include:

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3. Professional development (CPD sessions)

Alongside our delivery with children and young people, we have delivered a range of professional development and training for teachers and writers working in education settings. Through this work we are aiming to share the Ministry of Stories methodology and approaches, broadening the reach and impact of our work. Through observations, practical workshops and teaching resources, practitioners develop skills and practical techniques that they can use in their teaching practice.

Sessions included:

Highlights include:

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‘Making poems in unexpected but 'normal' spaces can be very powerful, easy and fun!’ teacher from CPD sessions

‘I wanted to say thank you for yesterday's writing workshop. I had a wonderful time working in my group. Our writing was really something, and because writer's block has put any story and writing far away from my mind lately, I was so inspired and motivated to open my laptop today and plot another chapter of my novel! I just had to write to you to say, thanks.’ Participating artist

“I really enjoyed visiting Bridge and observing the literacy and discussion that the children were having. The children were all engaged in the text. They had ownership and that is useful for us to see - an end point. It’s what we’re aiming for as primary teachers.” Teacher, Queensbridge Primary, Write Hackney programme

“This is a really helpful and structured way to communicate with our feeder schools. Looking through a ‘poetry lens’ is great too, to help us to capitalise on the enthusiasm that they join secondary school with. The genre theory focus of the KS2/Year 6 lesson I observed was great to see. They know a lot when they join us in September!” Teacher, Bridge Academy, Write Hackney programme.

4. Resources and Publications

“The Unexpected Poetry book is fantastic and a very special record of all the children's work, the writing club team's support and the local community.” - Marie, parent, community programme

Ministry of Stories remains committed to one of our founding principles: to publish the work of young people in order to share their talent with new audiences. This year we also explored how we could represent the creative process that took place behind our 2020/21 flagship project, Unexpected Poetry and published a book which included the original writing alongside photography and film of the installation process, the final public art pieces and some of our young writers and member of the public’s reaction to the works when they discovered them in Hoxton.

We will continue to explore how we can effectively record the stages of our creative process alongside celebrating the final works in our future flagship projects as we recognise that the journey of change and creative process is more important in supporting the growth of our young people, as their pride in the final piece.

In total this year, we developed and published 9 new publications and created 17 videos in partnership with our young writers and schools.

These included eight new published books of original writing and a total of 1,000 printed copies.

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Community Programme:

Schools Programme:

A Time Traveller’s Guide to Hoxton, postcard pack and illustrations

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VOLUNTEERS

Volunteers remain fundamental to the delivery of our mission at the Ministry of Stories and this year was no exception. Despite the continued challenges of the pandemic in terms of health, absence and worry about returning, we were able to engage 128 active volunteers (2021: 94 volunteers) who donated 2,961 hours to our charity (2021: 1,517 hours). On average, each volunteer contributed 23 hours of their time, compared to 16 hours the year before.

Our volunteers primarily support our workshops as writing mentors – providing oneto-one attention and small group support for our young writers. Volunteers also perform the role of shopkeeper in Hoxton Street Monster Supplies; administrate and ‘ghostwrite’ for the Hoxton Street Monster Supplies postal services and provide back office administrative support. This year we have also benefited from volunteers with specific skills, including illustration, copy editing and a large volume of typists to support the writing up of our young people’s work and evaluation data.

Following the pandemic, the priority this year has been to rebuild our volunteer team. Our volunteer induction training recommenced in January 2022. Following the learning from our pilot, Space to Be , we have seen the benefit to our young people and volunteers of encouraging consistent regular attendance to a particular writing lab. This is a priority we are pushing forward with our newly recruited volunteers.

As part of our Diversity and Inclusion Action Plan, we have identified the gaps in our volunteer pool and will be carrying out targeted recruitment for people of colour, male volunteers and volunteers from our local community in the year ahead. We have maintained our commitment to recruiting young volunteers, which was kick-started by our Your Time to Shine project in 2020-21.

This year we have also improved our communications with volunteers and parents by introducing a new text messaging service via our CRM and relaunching our email newsletter.

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FUTURE STRATEGY

2022-23 is a year for building momentum. Following a period of transition, new delivery models and an expanded community writing labs and schools offer, 2022-23 sees us move to the next stage in our ambition, scale and growth. With our growing community programme rooted in our Hoxton neighbourhood, and a rapidly expanding schools network across our three neighbouring boroughs, in 2022-23 we expect to reach more children and families, young people and schools in our locality.

We will continue to hone our work, informed by a better understanding of evaluation and impact having completed the first full year of our new Evaluation Framework. We will continue to raise the profile and presence of evaluation and impact in our conversations, extending the cultural shift that is underway that ensures a focus on why, not just how, our work happens. Our planning, evaluation and review cycle is now closely tied to our organisational Theory of Change, and includes an ambitious creative forward plan that reaches 18+ months ahead. We will continue to position our children, young people and our community as central to our work, informing and shaping our programming decisions.

Extract from Pickled Onions, by Alfred Daniel, age 10 from 'This Book Will Blow Your Mind' - Poetry anthology by students form Randal Cremer Primary School

RISK

Trustees are responsible for the oversight of the Ministry of Stories Risk Register. This is used as a management tool and is reviewed in detail by each sub committee with key risks summarised to the full Board.

Any risks scored 10+ lead to immediate action by senior management and the Chair and Officers are notified.

All trustees and staff share responsibility to identify new risks that should be added as the climate and/or sector changes. The risk register has been an important and active tool during the pandemic.

At the time of writing, the main risks to the Ministry of Stories have been identified as:

  1. Realising the new Fundraising Strategy, particularly re-securing multiyear/core funders across our programme.

  2. The cost of living crisis and energy costs negatively impact on families, staff and organisational costs. Specifically;

  3. a. the financial impact on our families, and seeing increased need and demand for our services

  4. b. the emotional, wellbeing and mental health implications for our young

25

MINISTRY OF STORIES SECTION 3. TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2022

people

FINANCIAL REVIEW

The largest source of funding were public funds, which included £110,000 from Arts Council England (ACE) including £20,000 ACE Pathfinders income, £45,599 from the Greater London Authority for Young Londoners and £29,995 from the London Borough of Hackney (Shoreditch and Hoxton Art Fund, Hello Hackney and High Street and Town Centres Fund). Income also included grants from trusts and foundations (25%) and donations from companies and individuals (21%). We also generated a contribution of income from our schools (8%).

The majority of the income secured from public funds and trusts and foundations are restricted and deliver key objectives of our charity including our community writing labs programme, underwriting the growth of our schools programme and by contributing to the costs of running our physical writing centre. A summary of each restricted fund is provided in Note 17 of the accounts.

Total income received was £504,002 (2021: £306,195) against an original operational budget target of £320,403 and aspirational budget of £462,066 for the year from all income sources. We saw additional fundraising success in relation to public income, trusts and foundations and corporate donations in particular. £282,843 of income (2021: £85,670) is restricted, with £168,691 (2021: £103,123) carried forward to support future years’ activity.

Fundraising

This year represented the final year of the 2018-2022 Fundraising Strategy, with the replacement strategy for 2022-2026 developed alongside the final year of delivery. We are proud to note that we exceeded the activity and targets set out in the strategy in all but one year (2020-21: pandemic). The new strategy came into effect in April 2022.

26

MINISTRY OF STORIES SECTION 3. TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2022

During 2021-22, the fundraising objectives for Ministry of Stories continued as:

  1. High quality relationships with new and existing funders

  2. Diversification of funding streams

  3. Transition from single-year fundraising target towards a multi-year fundraising strategy

Our fundraising activities are run in-house and we do not employ professional fundraisers or commercial participators to support our activity. This year we have continued our commitment to membership with the Fundraising Regulator, have committed to the standards of the Code of Fundraising Practice and are compliant. We have not received any complaints about our fundraising activities.

2021-22 represented the fourth year in our Arts Council England National Portfolio Organisation agreement. We received confirmation of an extension for a 5th year for 2022/23 due to the pandemic.

We used this year to strengthen our case for investment, understand how our work supports the new Arts Council 10-year strategy and completed an extensive resubmission for NPO funding 2023-2026.

To complete this process during the last six months of the year required a significant strategic and financial investment and time commitment from the senior leadership team, Development Manager and the Board NPO Working Group. In addition we commissioned project management support from our former Development Manager, Hannah Keville. The work and thought required has pushed our strategic development for the charity and driven forward our diversity, impact and environmental commitments, which we recognise will support us in all other areas, but it is important to acknowledge the cost and pressure that the process created at the end of the year. The outcome of the application will be known in October 2022.

This year we also were awarded the London Youth Quality Mark, Bronze Award - a requirement of our Young Londoners’ Grant Agreement. In preparation for the assessment, we revised and updated all of our core organisational policies, working closely with the Board and received legal pro-bono support from Queen Mary’s University (pro-bono value: £7,600). Other significant pro-bono support came from our Charity Partnership with 52:Group, who delivered our Unexpected Poetry film.

As with many colleagues in the charitable sector, we also experienced recruitment challenges in the autumn and faced a 4-month period without a Development Manager in post. Despite this, we were able to deliver a high volume of bids through our Deputy Director and through the use of a fundraising consultant. The increased cost of this support is reflected in the Professional Fees in Note 7a, compared to the previous year, but was partly offset by salary savings. With this additional investment, we were successful in securing additional grants from new trust, public and corporate fundraising sources which will help to secure the organisation for the next two years.

27

MINISTRY OF STORIES SECTION 3. TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2022

Highlights of 2021-22 fundraising include:

Our work is only possible due to our dedicated supporters, companies, charitable trusts, foundations and public funders who fund us, as well as our ambassadors and advocates. To everyone involved, we cannot thank you enough.

Lexi Airey, one of our new Ministers, proudly displaying her Ministerial Certificate

28

MINISTRY OF STORIES SECTION 3. TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2022

We'd like to thank our co-founder and First Minister, Nick Hornby, for his continued advocacy, advice and friendship, alongside Lucy Macnab and Ben Payne. We also wish to acknowledge our Art Director, Ed Cornish (for Ministry of Stories) and cofounder Alistair Hall (Art Director for Hoxton Street Monster Supplies) for all their hard work and skill this year.

In addition to our many regular donors and community supporters, during 2021-22 we were also proud to be supported by:

Amazon Literacy Partnership Lightbulb Trust Arts Council England Old Street District Partnership Better Business Community Network Paul Hamlyn Foundation Cockayne - Grants for the Arts and Portal Trust The London Community Foundation Rachel Hood 1978 Trust Foundation for Future London Shoreditch and Hoxton Art Fund Hackney Council - Hello Hackney The Fagus Anstruther Memorial Trust Again Fund + High Street and Town The Mercers’ Company on behalf of Centres Fund The Charity of Sir Richard Whittington Jack Petchey Foundation Tom ap Rhys Pryce Memorial Trust JAR Charitable Trust UBS Young Londoners Fund

Thank you for funding the imaginations of our young writers.

Investment powers and policy - Hoxton Street Monster Supplies

The Trust Deed authorises the trustees to make and hold investments using the general funds of the charity. The trustees have the power to invest in any way they deem appropriate in order to further the charitable objects of the charity.

All of the charity’s investment income arises from interest payable on a loan to the

trading subsidiary, Hoxton Street Monster Supplies Ltd (company number 08472232) (‘HSMS’) which runs the charity’s retail operations.

HSMS, which is incorporated in the United Kingdom, pays all of its distributable profits to the charity under the gift aid scheme. The charity owns the entire share capital of 10 ordinary shares of £1 each in HSMS. A robust governance structure (which includes observation of HSMS's Board meetings by the charity's chair) is in place to ensure that HSMS's Board gives due consideration to the gift aiding of profits to the charity and explores how HSMS's shop can support the charity in meeting its charitable objectives beyond funding.

29

MINISTRY OF STORIES SECTION 3. TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2022

HSMS's retail presence continues to be an important part of the charity, providing a warm welcome to children and their families. It also supports our ambition to diversify our financial mix and demonstrates how seriously we take play and the imagination. HSMS is a core part of our charity’s identity, garnering attention for the work we do and as a public face for the charity.

RESERVES

The trustees have adopted a reserves policy through which we aim to maintain a minimum level of unrestricted reserves equivalent to 4 months running costs.

At 31 March 2022 the total funds stood at £563,927 (2021: £558,744).

The reserves comprise:

The Board has designated funds to create a Development Fund which will be spent over the next three years to support our organisational growth including an element to support core running costs and underwriting our investment in a central staff post (Finance and Operations Coordinator). The Development Fund also supported the training of our freelance writing facilitators this year. In 2022-23 it will help us to pilot a new trainee artist programme.

If it is viable to fundraise for this expenditure, these designated funds will be released and reallocated to support the charity in 2023-24.

GOING CONCERN

The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Ministry of Stories is registered as a company limited by guarantee and not having share capital, its operations and governed by its Articles of Association.

The company was incorporated on 16 July 2010 and registered as a charity on 25 October 2010. The charity registration number is 1138558 and the company registration number is 07317370.

30

MINISTRY OF STORIES SECTION 3. TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2022

Appointment of Trustees

As set out in the Articles of Association, the Chair of the Trustees is nominated by the Ministry of Stories. The directors of the organisation are also the charity trustees for the purposes of charity law.

The Board of Trustees has the power to appoint additional trustees as it considers fit to do so. The trustees have no beneficial interest in the company other than as members. The trustees are also directors of the company.

Trustees continue to be recruited by identifying skills gaps at Board level through an annual skills audit and peer review. A minimum of three trustee positions are reserved for writers to ensure a creative sounding board for the work of the charity.

This year saw one retirement (Régis Cochefert) and following a thorough recruitment process, the successful appointment of new Chair, Michaela Greene (previous ViceChair). We thank Régis for his years of service as a trustee.

Michaela stepped into her role as Chair in November 2021 and she has carried out a review of the Board and began recruitment for additional trustees in Spring 2022.

In July 2022, one of our long-standing trustees, Duncan Kilty retired and took up a non-Governance role as an expert advisor on the Business and Programme Sub Committee.

Two new trustees, Indigo Williams and Philip Watkins were appointed as trustees, with Philip elected as Company Secretary.

Two of our trustees, Nick Makoha and Mina Marsh continue their appointment by the Board as diversity champions. They serve on our Diversity Working Group, alongside nominated staff and freelancers.

Organisational structure

The company is organised so that trustees meet regularly to manage its affairs. The trustees meet as a full Board every quarter, in addition to quarterly meetings of the Finance and Fundraising Sub Committee (chaired by Simon Mott-Cowan) and Business and Programme Sub Committee (chaired by Anya Zhuravkina).

Rob Smith (Director) is the person to whom the charity trustees delegated day-to-day management of the charity during the reporting period.

In addition to the core staff team, in 2021-22 we benefitted from the skills of eight freelancers to increase the breadth of writing and art forms and diversity of our programme team. These roles are focused on the delivery of our schools programme.

31

MINISTRY OF STORIES SECTION 3. TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2022

Related parties and relationships with other organisations

Ministry of Stories continued to actively participate in sector-wide collaborations this year, including sharing learning and planning around our responses to the pandemic. We contributed to advocacy and sector lobbying for investment in the Cultural Recovery Fund.

In the latter part of this year, Ministry of Stories also had regular contact with our international and national family of writing charities to collaborate on The Story Engine and discuss COVID-19 programme responses.

Our relationship with our national and international writing centre colleagues and our formal affiliation with 826 National drive forward our values, learning and artistic practices but have no impact on the operating policies of the Ministry of Stories.

STATEMENT OF RESPONSIBILITIES OF THE TRUSTEES

The trustees (who are also directors of charitable company for the purposes of company law) 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 trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

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

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

32

MINISTRY OF STORIES SECTION 3. TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2022

Members of the charity guarantee to contribute an amount not exceeding £10 to the assets of the charity in the event of winding up. The total number of such guarantees at 31 March 2021 was £80 (2021: £110). The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

Statement as to disclosure to our independent examiners in so far as the trustees are aware:

Independent Examiners

Following a competitive tender process, Goldwins Limited were appointed as the independent examiners of the charitable company in 2020. The Board supported the renewal for 2021-22.

The Trustees Report was approved and authorised for issue by the trustees on 8th November 2022 and signed on their behalf by:

_______ Michaela Greene Chair of trustees

Date: 8 November 2022

33

THE MINISTRY OF STORIES SECTION 4. INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF MINISTRY OF STORIES

I report to the trustees on my examination of the accounts of the Ministry of Stories for the year ended 31 March 2022.

Responsibilities and basis of report

As the charity’s trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (the ‘2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

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

(1) accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or

(2) the accounts do not accord with those accounting records; or

(3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or

(4) the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

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

____ Anthony Epton BA FCA CTA FCIE Goldwins Limited Chartered accountants 75 Maygrove Road West Hampstead London NW6 2EG

Date: 10 November 2022

34

The Ministry of Stories Statement of financial activities

(incorporating an income and expenditure account) For the year ended 31 March 2022

Unrestricted
Funds
Note
£
Income from:
Donations and legacies
3
155,490
Charitable activities
4
44,764
Other trading activities
5
2,055
Investments
6
10
Total income
202,319
Expenditure on:
Raising funds
7
53,463
Charitable activities:
7
Community programme
114,694
Schools programme
130,729
National programme
3,086
Total expenditure
301,972
(99,653)
Transfers between funds
39,267
Net movement in funds
(60,386)
Reconciliation of funds:
Total funds brought forward
455,621
Total funds carried forward
17
395,235
Net income / (expenditure)
before net gains / (losses) on		 Unrestricted
Funds
Note
£
Income from:
Donations and legacies
3
155,490
Charitable activities
4
44,764
Other trading activities
5
2,055
Investments
6
10
Total income
202,319
Expenditure on:
Raising funds
7
53,463
Charitable activities:
7
Community programme
114,694
Schools programme
130,729
National programme
3,086
Total expenditure
301,972
(99,653)
Transfers between funds
39,267
Net movement in funds
(60,386)
Reconciliation of funds:
Total funds brought forward
455,621
Total funds carried forward
17
395,235
Net income / (expenditure)
before net gains / (losses) on		 Restricted
Funds
£
282,843
-
-
-		 2022
2021
Total
Total
Funds
Funds
£
£
438,333
275,459
44,764
15,141
2,055
15,496
10
99
485,162
306,195
53,463
66,117
196,850
155,424
224,371
189,381
5,295
26,090
479,979
437,012
5,183
(130,817)
-
-
5,183
(130,817)
558,744
689,561
563,927
558,744
202,319 282,843
53,463
114,694
130,729
3,086		 -
82,156
93,642
2,209
301,972 178,007
(99,653)
39,267		 104,836
(39,267)
(60,386)
455,621		 65,569
103,123
395,235 168,692

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. The attached notes form part of these financial statements.

35

The Ministry of Stories Balance sheet As at 31 March 2022

2022
Note
£
Fixed assets:
11
12
13
Current assets:
13
47,715
538,901
586,616
Liabilities:
14
(23,908)
17
167,432
227,803
Total unrestricted funds
Long Term assets:
Debtors
Total funds
Unrestricted funds:
Designated funds
General funds
Restricted funds
Investments
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one
year
Net current assets
Total net assets
Funds
Tangible assets		 2022
£
1,209
10
1,219
-
562,708
563,927
168,692
395,235
563,927		 2021
£
20,336
549,120
569,456
(16,082)
235,652
219,969		 2021
£
1,692
10
1,702
3,668
553,374
558,744
103,123
455,621
558,744

The financial statements have been prepared in accordance with the special provisions for small companies under Part15 of the Companies Act 2006.

For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

Approved by the trustees on 8 November 2022 and signed on their behalf by:

Michaela Greene Chair

Company registration no. 07317370

The attached notes form part of the financial statements.

36

The Ministry of Stories Statement of cash flows For the year ended 31 March 2022

Note
Cash flows from operating activities:
Net cash provided by / (used in) operating activities
18
Cash flows from investing activities:
Sale/ (purchase) of fixed assets
Cash provided by / (used in) investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
19
Cash and cash equivalents at the end of the year		 2022
2022
2021
2021
£
£
£
£
(10,219)
(121,208)
-
(1,934)
-
(1,934)
(10,219)
(123,142)
549,120
672,262
538,901
549,120		 2022
2022
2021
2021
£
£
£
£
(10,219)
(121,208)
-
(1,934)
-
(1,934)
(10,219)
(123,142)
549,120
672,262
538,901
549,120		 2022
2022
2021
2021
£
£
£
£
(10,219)
(121,208)
-
(1,934)
-
(1,934)
(10,219)
(123,142)
549,120
672,262
538,901
549,120		 2022
2022
2021
2021
£
£
£
£
(10,219)
(121,208)
-
(1,934)
-
(1,934)
(10,219)
(123,142)
549,120
672,262
538,901
549,120
(10,219)
549,120		 (123,142)
672,262
538,901 549,120

37

The Ministry of Stories Notes to the financial statements For the year ended 31 March 2022

1 Accounting policies

a) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102 - effective 1 January 2015) - (Charities SORP FRS 102) and the Companies Act 2006.

The charitable company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

b) Going concern

The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

The Trustees have a reasonable expectation that the Charity can continue as a going concern for a period of at least twelve months from the date of approval of these financial statements.

c) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income received in advance for the provision of specified service is deferred until the criteria for income recognition are met.

d) Donations of gifts, services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution.

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

38

The Ministry of Stories Notes to the financial statements For the year ended 31 March 2022

1 Accounting policies (continued)

e) Interest receivable

f) Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.

g) Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Costs are allocated between expenditure categories based on usage of the resource. Where costs cannot be directly allocated they are apportioned on an appropriate basis and recognised in the Statement of Financial Activities.

As the Charity is not VAT registered, expenses are incurred on a gross basis inclusive of any VAT.

h) Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity and its and activities. These costs have been allocated between expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 7.

i) Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £1,000. Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

39

The Ministry of Stories Notes to the financial statements For the year ended 31 March 2022

1 Accounting policies (continued)

j) Investments

The cost of ordinary shares in the wholly owned trading subsidiary, HSMS Ltd (company number 07317370), are accounted for as fixed asset investments on the Charity's balance sheet.

k) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

l) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

m) Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

n) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

o) Pensions

The Charity participates in the NEST pension scheme, a defined contribution scheme. Contributions are recognised at cost.

p) Taxation

No provision is made in these accounts for corporation tax as the charity is exempt from such taxes, with income and gains applied to charitable purposes in line with relevant requirements including Part 11 of the Corporation Tax Act 2010.

40

The Ministry of Stories Notes to the financial statements For the year ended 31 March 2022

2
Detailed comparatives for the statement of financial activities
2021
£
Income from:
Donations and legacies
189,789
Charitable activities
15,141
Other trading activities
15,496
Investments
99
Total income
220,525
Expenditure on:
Raising funds
66,117
Charitable activities:
Community programme
104,084
Schools programme
126,825
National programme
17,472
Total expenditure
314,498
Net movement in funds
(93,973)
Total funds brought forward
549,594
Total funds carried forward
455,621
3
Income from donations and legacies
£
£
Grants
97,353
217,970
Government Furlough Scheme
-
-
Corporate Donations
4,171
61,773
Donations from individuals
36,074
3,100
Donations in kind
14,722
-
Community fundraising
3,170
-
155,490
282,843
Unrestricted
Restricted
Unrestricted
2021
£
85,670
-
-
-
85,670
-
51,340
62,556
8,618
122,514
(36,844)
139,967
103,123
2022
Total
£
315,323
-
65,944
39,174
14,722
3,170
438,333
Restricted		 2021
Total
£
275,459
15,141
15,496
99
306,195
66,117
-
155,424
189,381
26,090
437,012
(130,817)
689,561
558,744
2021
Total
£
185,591
10,197
23,338
45,160
10,666
507
275,459

Donated goods and services were received during the year for photography, film and design work, project management, print and installation costs, consultancy (marketing) and legal advice and organisational policy updates.

41

The Ministry of Stories Notes to the financial statements For the year ended 31 March 2022

4 Income from charitable activities

Venue hire and consultancy
Post office income
Schools income
Total income from charitable
activities		 Unrestricted
£
6,250
120
38,394
44,764		 £
-
-
-
-
Restricted		 2022
2021
Total
Total
£
£
6,250
5,100
120
128
38,394
9,913
44,764
15,141

5 Income from other trading activities

Trading Subsidiary income
Other income		 Unrestricted
£
2,055
-
2,055		 £
-
-
-
Restricted		 2022
Total
£
2,055
-
2,055		 2021
Total
£
3,618
11,878
15,496

6 Income from investments

Investment in trading subsidiary Unrestricted
£
10
10		 £
-
-
Restricted		 2022
2021
Total
Total
£
£
10
99
10
99

All of the charity’s investment income arises from interest payable on a loan to the trading subsidiary, which was settled in June 2021.

The wholly owned trading subsidiary HSMS Ltd is incorporated in the United Kingdom (company number 07317370) and pays all of its distributable profits to the charity under the gift aid scheme. The charity owns the entire share capital of 10 ordinary shares of £1 each.

42

The Ministry of Stories Notes to the financial statements For the year ended 31 March 2022

7a Analysis of expenditure (current year)

Basis of allocation
Staff costs
Direct/Staff Time
Direct Charitable Expenses
Direct/Usage Estimate
Premises
Direct
Communications
Direct
Professional Expenses
Direct
Comms Freelance Costs
Direct
Expenditure In Kind
Direct
Information Technology
Direct
Insurance
Direct
Bank Charges
Direct
Depreciation
Direct
Sundry Expenses
Direct/Usage Estimate
Support costs
Based on the total cost
of each activity
Governance costs
Based on the total cost
of each activity
Total expenditure 2022
Total expenditure 2021		 £
51,870
-
-
1,593
-
-
-
-
-
-
-
-
Cost of
raising
funds		 Charitable activities Charitable activities Charitable activities Support
costs
£
46,042
-
42,547
6,483
33,782
13,252
14,722
7,263
2,465
919
484
7,787		 £
-
-
-
-
1,040
-
-
-
-
-
-
568
Governance
costs		 2022 Total
£
266,631
73,907
42,547
8,076
34,822
13,252
14,722
7,263
2,465
919
484
14,891		 2021 Total
£
277,927
31,239
46,088
20,941
17,028
13,073
10,666
4,525
2,185
933
242
12,165
Community
programme
£
82,399
29,329
-
-
-
-
-
-
-
-
-
3,268		 Schools
programme
£
86,320
41,485
-
-
-
-
-
-
-
-
-
3,268		 National
programme
£
-
3,093
-
-
-
-
-
-
-
-
-
-
53,463
-
-		 114,996
81,112
742		 131,073
92,452
846		 3,093
2,182
20		 175,746
(175,746)
-		 1,608
(1,608)		 479,979
-
-		 437,012
-
-
53,463 196,850 224,371 5,295 - - 479,979
66,117 155,424 189,381 26,090 - - 437,012

Of the total expenditure, £301,972 was unrestricted (2021: £314,498) and £178,007 was restricted (2021: £122,514).

43

The Ministry of Stories Notes to the financial statements For the year ended 31 March 2022

7b Analysis of expenditure (prior year)

Basis of allocation
Staff costs
Direct/Staff Time
Direct Charitable Expenses
Direct/Usage Estimate
Premises
Direct
Communications
Direct
Professional Expenses
Direct
Comms Freelance Costs
Direct
Expenditure In Kind
Direct
Information Technology
Direct
Insurance
Direct
Bank Charges
Direct
Depreciation
Direct
Sundry Expenses
Direct/Usage Estimate
Support costs
Based on the total
cost of each activity
Governance costs
Based on the total
cost of each activity
Total expenditure 2021		 £
64,432
-
-
1,685
-
-
-
-
-
-
-
-
Cost of
raising
funds		 Charitable activities Charitable activities Charitable activities Support
costs
£
60,174
-
46,088
19,256
16,038
13,073
10,666
4,525
2,185
933
242
6,196		 £
-
-
-
-
990
-
-
-
-
-
-
333
Governance
costs		 2021 Total
£
277,927
31,239
46,088
20,941
17,028
13,073
10,666
4,525
2,185
933
242
12,165
Community
programme
£
63,236
13,648
-
-
-
-
-
-
-
-
-
2,818		 Schools
programme
£
85,406
8,891
-
-
-
-
-
-
-
-
-
2,818		 National
programme
£
4,679
8,700
-
-
-
-
-
-
-
-
-
-
66,117
-
-		 79,702
75,168
554		 97,115
91,590
676		 13,379
12,618
93		 179,376
(179,376)
-		 1,323
(1,323)		 437,012
-
-
66,117 155,424 189,381 26,090 - - 437,012

Of the total expenditure, £314,498 was unrestricted and £122,514 was restricted.

44

The Ministry of Stories Notes to the financial statements For the year ended 31 March 2022

8 Net income / (expenditure) for the year

This is stated after charging / (crediting): 2022 2021
£ £
Depreciation 483 242
Independent examination fee 1,000 1,000

9 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

Staff costs were as follows:
Salaries and wages
Social security costs
Employer’s contribution to defined contribution pension schemes
Redundancy and termination costs		 2022
2021
£
£
239,655
249,437
19,793
18,808
7,183
7,163
-
2,519
266,631
277,927

There were no employees (2021: 0) who received emoluments of more than £60,000.

The key management personnel of the Charity, comprise the trustees, the Director and Deputy Director. The total employee benefits including employer's national insurance and employer's pension contributions of the key management personnel of the charity were £107,534 (2021: £105,288).

The Charity trustees were not paid or received any other benefits from employment with the Charity or its subsidiary in the year (2021: £nil) neither were they reimbursed expenses during the year (2021: £nil). No charity trustee received payment for professional or other services supplied to the charity (2021: £nil).

Staff numbers

The average number of employees (head count based on number of staff employed) during the year was 10 (2021: 10 - restated).

10 Taxation

The charity is exempt from tax on income and gains applied to charitable purposes, in line with relevant requirements including Part 11 of the Corporation Tax Act 2010.

45

The Ministry of Stories Notes to the financial statements For the year ended 31 March 2022

11 Tangible fixed assets

Tangible fixed assets
Cost
At the start of the year
Additions in year
At the end of the year
Depreciation
At the start of the year
Charge for the year
At the end of the year
Net book value
At the end of the year
At the start of the year		 Total
£
£
21,086
21,086
-
-
Equipment
21,086
21,086
19,394
19,394
483
483
19,877
19,877
1,209
1,209
1,692
1,692

All of the above assets are used for charitable purposes.

46

The Ministry of Stories Notes to the financial statements For the year ended 31 March 2022

12 Fixed asset investment

Charity
Cost or valuation
At the end of the year
As at 1 April 2021
Additions		 2022
2021
£
£
10
10
-
-
10
10
Hoxton Street Monster Supplies Ltd Hoxton Street Monster Supplies Ltd
Current and Prior Year 2022 2021
Equity held Turnover
No. % £ £
Main trading activity: Retail 10 100 64,425 49,536
Profit for
the year
£ £
Hoxton Street Monster Supplies Ltd 10 -

Hoxton Street Monster Supplies Ltd

Hoxton Street Monster Supplies Ltd is exempt from audit under s479A of Companies Act 2006.

The charity has an investment of £10 in the share capital of its wholly owned, trading subsidiary: Hoxton Street Monster Supplies. The shares are not listed.

In June 2021 Hoxton Street Monster Supplies settled the final balance due on a £30,000 loan taken from the Charity on 9th March 2015. The original term of the loan was 5 years but this was extended in March 2019 for a further 2 years to allow Hoxton Street Monster Supplies to invest in new products and marketing.

13 Debtors
Trade debtors
Other debtors
Prepayments
Accrued income
Amounts due from subsidiary
Debtors
Falling due > 1 year		 2022
2021
£
£
13,328
31
15,175
8,556
3,000
-
16,212
11,749
47,715
20,336
-
3,668
-
3,668

47

The Ministry of Stories Notes to the financial statements For the year ended 31 March 2022

14 Creditors: amounts falling due within one year

Trade creditors
Taxation and social security
Other creditors
Accruals
Deferred income
15
Deferred income
Balance at the beginning of the year
Amount released to income in the year
Amount deferred in the year
Balance at the end of the year		 2022
2021
£
£
7,605
5,340
6,054
6,247
1,150
551
5,639
990
3,460
2,954
23,908
16,082
2022
2021
£
£
2,954
19,117
(2,954)
(19,117)
3,460
2,954
3,460
2,954

Deferred income comprises amounts invoiced to Schools relating to the next financial year.

16 Analysis of net assets between funds

Tangible fixed assets
Investments
Net current assets
Net assets at the end of the year		 General
unrestricted
Designated
Restricted Total funds
£
£
£
£
1,209
-
-
1,209
10
-
-
10
226,584
167,432
168,692
562,708
227,803
167,432
168,692
563,927

48

The Ministry of Stories Notes to the financial statements For the year ended 31 March 2022

17 Movements in funds

Movements in funds
At the start Income & Expenditure At the end
of the year gains & losses Transfers of the year
£ £ £ £ £
Restricted funds:
The Mercers' Company 81,711 45,000 76,175 - 50,536
The Young Londoners Fund 10,402 45,599 47,245 - 8,756
Jack Petchey Foundation 2,865 - 2,865 - -
Paul Hamlyn Foundation 2,495 - 2,495 - -
Cockayne Grants for the 5,650 - 5,650 - -
Cockanye II - 8,000 5,715 - 2,285
ACE Pathfinders - 20,401 12,424 - 7,977
Foundation Future London - 11,975 - - 11,975
Hello Hackney Fund - 9,998 - - 9,998
High Street & Town Centre F - 9,997 - - 9,997
Shoreditch and Hoxton Art F - 10,000 10,000 - -
UBS Speak Up - 16,075 1,569 - 14,506
UBS Write Hackney - 27,148 13,869 - 13,279
Other Restricted Funds - 78,650 - (39,267) 39,383
Total restricted funds 103,123 282,843 178,007 (39,267) 168,692
Unrestricted funds:
Development Fund 235,652 - 18,220 (50,000) 167,432
General Funds 219,969 202,319 283,752 89,267 227,803
Total unrestricted funds 455,621 202,319 301,972 39,267 395,235
Total funds 558,744 485,162 479,979 - 563,927

Transfers between funds

A cost transfer of £39,267 has been made from restricted funds to unrestricted funds relating to indirect expenditure.

49

The Ministry of Stories Notes to the financial statements For the year ended 31 March 2022

17 Movements in funds Purposes of restricted funds

The Mercers' Company

The Young Londoners Fund

Funding for 'Your Story Starts Here’ programme, which provides free after school and weekend Community Writing Labs for 10 - 16 year olds. This 3-year funding is helping us to grow the number of Community Writing Labs from three to five and to secure Bronze Quality Mark status for our work with young people, quality assured by London Youth.

Jack Petchey Foundation Funding for 'Your Time To Shine' project, focused on increasing youth volunteering for 16 - 25 years olds at Ministry of Stories. Extended due to the pandemic.

Paul Hamlyn Foundation Funding towards programme evaluation.

Shoreditch and Hoxton Art Fund

Funding raised by a levy on developers in Shoreditch and Hoxton, which aims to bring different communities together through public and accessible arts projects. The grant supported the delivery of our community labs Unexpected Poetry project including salaries, running costs, freelance artists, materials and final publication across two financial years.

Cockayne Grants for the A US-based organisation which funds high quality fringe arts Arts and the London performances and installations supported the delivery the Community Foundation 'Unexpected Poetry' project as part of our community programme, including salaries, running costs, freelance artists, materials and final publication across two financial years. Cockayne Grants for the As above, supported the delivery of the 'Time Travellers' Guide to Arts and the London Hoxton' project as part of our community programme, including Community Foundation - salaries, running costs, freelance artists, materials and final 2nd grant award publication across two financial years.

Cockayne Grants for the Arts and the London Community Foundation - 2nd grant award

ACE Pathfinders

Funding from Arts Council England to devise and deliver 6 pilot creative commissions to recruit new young writers to our programmes over 2 financial years.

Foundation Future London Funding for 'Your Story Starts Here’ programme for 2022/23. Grant carried forward in full for delivery in 2022/23.

50

The Ministry of Stories Notes to the financial statements For the year ended 31 March 2022

Hello Hackney Fund

High Street & Town Centre Fund

Funding towards 'Your Story Starts Here' programme delivery for the 'Ha Ha Hackney' project in Autumn 2022. Grant carried forward in full for delivery in 2022/23.

Funding to review and upgrade the Postal Services community engagement project, facilitated in Hoxton Street Monster Supplies. Grant carried forward in full for delivery in 2022/23.

Shoreditch and Hoxton Art Fund ll

Funding raised by a levy on developers in Shoreditch and Hoxton, which aims to bring different communities together through public and accessible arts projects. This grant supported the delivery of the 'Escape Artists' project as part of our community programme, including salaries, running costs, partnership fees, materials and final escape room installation across two financial years.

UBS Speak Up

Funding from UBS for Speak Up programme delivery with Bridge Academy for 3 years.

UBS Write Hackney

Funding from UBS for Write Hackney transitions project, working with secondary and primary school partners over 2 financial years.

Other Restricted Funds

These include restricted donations including grants from Trusts and Foundations which are spent in line with the purposes specified. The largest grant award includes funding from The Lightbulb Trust for 'Your Story Starts Here' programme delivery during calendar year 2022. Funding also targeted support from Tom Ap Rhys Pryce Memorial Trust (older group on Saturday afternoons) and Portal Trust (Tuesday quiet lab pilot).

Development Fund

Funds designated by the board, the remaining amount relating to a balance from an anonymous corporate donation received in 2019/20 which is planned to be spent over the next year.

51

The Ministry of Stories Notes to the financial statements For the year ended 31 March 2022

18 Reconciliation of net income / (expenditure) to net cash flow from operating activities
2022 2021
£ £
Net income / (expenditure) for the reporting period 5,183 (130,817)
(as per the statement of financial activities)
Depreciation 483 242
(Increase)/ decrease in debtors (23,711) 28,680
Increase/ (decrease) in creditors 7,826 (19,313)
Net cash provided by / (used in) operating activities (10,219) (121,208)

19 Analysis of cash and cash equivalents

Cash at bank and in hand
Total cash and cash equivalents		 Cash flows
£
£
£
£
549,120
(10,219)
-
538,901
At 31
March 2022
At 1 April
2021
Other
changes
549,120
(10,219)
-
538,901

20 Legal status of the charity

The charity is a company limited by guarantee and has no share capital.

21 Related party transactions

Aggregate unrestricted donations from Trustees during the year were £1,235 (2021: £1,520). There were no payments to Trustees in year (2021: £0).

Income from the trading subsidiary disclosed in Note 5 includes £1,000 (2021: £3,618) in relation to the surplus to be gift aided to the Charity and £17,479 (2021: £11,878) in management fee income in respect of salary costs.

52