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← The Ministry Of Stories

2024-03-31-accounts

Ministry of Stories Trustees’ Report and Financial Statements For the year ended 31 March 2024

Registered Company Number: 07317370 Charity Registration Number: 1138553

Poetry is…

Poetry is medicine

It helps you with your imagination. Poetry is a cow mooing on a motorway Poetry is a pigeon sat on another pigeon Poetry is my Dad talking musical sense Poetry is the sun screaming, A cat dancing A tree upside down. Poetry is a cat jumping down from a tall tree A rabbit on white feathers A dog posing for a photograph. Poetry is a meerkat playing the piano Poetry is Messi bicycle kicking A zombie dancing And a mouse and a snake having a staring contest.

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MINISTRY OF STORIES TRUSTEES’ REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024

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CONTENTS Page
1. Trustee Board and Administrative Details 4
2. Introductions 5
A message from the Chair
A message from the Director
3. Trustees’ Report
About Ministry of Stories 7
Our Reach 9
Our Impact 9
Our Neighbourhood 11
Main Activities – Achievements and Performance 11
Volunteers 16
Future Strategy 20
Risk 21
Financial Review 21
Reserves 24
Going Concern 24
Structure, Governance and Management 24
Statement of Responsibilities of the Trustees 25
4. Independent Examiner’s Report 27
5. Statement of Financial Activities (incorporating an income 28
and expenditure account)
6. Balance Sheet 29
7. Statement of Cash Flows 30
8. Note to the Financial Statements 31

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MINISTRY OF STORIES SECTION 1: TRUSTEE BOARD AND ADMINISTRATIVE DETAILS YEAR ENDED 31 MARCH 2024

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Trustees

Michaela Greene, Chair Simon Mott-Cowan, Vice-Chair/ Treasurer Anya Zhuravkina Indigo Williams

Inua Ellams (appointed Nov 2023) Mina Marsh (retired Feb 2024) Nick Makoha (retired Nov 2023) Philip Watkins Piers Torday (retired Nov 2023)

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 6LJ

Independent Examiner

Goldwins Limited 75 Maygrove Road West Hampstead London NW6 2EG

Photo credits: Ministry of Stories, Tom Oldham and Jonathan Perugia.

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: INTRODUCTIONS YEAR ENDED 31 MARCH 2024

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A message from our Chair

This year, we are proud to have supported a record 3,295 children and young people in our Hackney and Tower Hamlets communities - a remarkable 42% increase on the previous year and the most in the organisation’s history.

This is testament to the hard work, energy and unwavering commitment of the Ministry of Stories team who put so much care into creating remarkable creative opportunities for our young writers and their families. Each and every one of our young people have had access to professional writers who have inspired and enthused them, unlocking their potential, and skillfully creating a space where they have felt confident and valued to create their own bold, original writing - telling the stories they want to tell, in the ways they want to tell them.

Our work around Diversity and Inclusion remains central to our success - with a deep significance placed on accessibility and inclusion, and supporting our communities to access a quality arts and cultural offer locally.

We also know how much pressure our families are under, and the barriers and inequality that this can create. This has been compounded by the cost of living crisis - with over 95% of our community writing lab families now living in the top 30% postcodes for income deprivation nationally.

The fundraising climate for charities like ours continues to be exceptionally tough - but we are pleased to welcome two significant new funding partners in the City Bridge Foundation, and the Violence Reduction Unit of the Mayor’s Office. Both recognise the vital role Ministry of Stories play in creating safe, purposeful and effective spaces for young people in our communities - and the importance of young people’s voice in determining the shape of these services.

We are committed to supporting many more young people and schools in our communities. To do this, we continue to seek other trusts, foundations, corporate partnerships, individuals and community groups to help us deliver our vision to champion the writer in every child. We hope you will be one of them.

Michaela Greene Chair of Trustees

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A message from our Director

It is a great privilege to lead Ministry of Stories. And it’s an even greater privilege to be in the room when our young writers are in full flow.

When they step through the secret door of Hoxton Street Monster Supplies and into our writing centre, or into their classroom at school for one of our sessions offsite - something changes. There is a leaving behind of whatever they have been carrying with them that day or that week. And within that act of leaving behind, anything becomes possible.

You never know where our young people’s imaginations are going to take us next - but you do know it will never be what you expect! They have the ability to challenge, to surprise, for us to laugh outrageously together, to find great mischief in something silly, to be deeply moving, or to think about the world from a different perspective - often many of these things across the same session.

We place great value on amplifying our young people’s voices through beautifully designed publications, anthologies, and this year, even an exhibition of their work. All of our programmes are co-created with our young people - their bold, ambitious, playful ideas - and this year has been no different. The quality of writing our young people have produced is astounding - and time and again this shines through.

We are ever grateful to our generous volunteers - totalling 218 this year - who give their time to mentor our young people. They always welcome our young writers with a warm, friendly and genuine smile. They listen carefully, offer support and assurance, and show our young writers just how important their voices really are.

And as always, our team, volunteers, families, funders and supporters are 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 3. TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2024

‘Ministry of Stories: Best. Experience. Ever.’

ABOUT US

Ministry of Stories (ministryofstories.org) champions the writer in every child. Cofounded by author Nick Hornby in 2010, we help young people discover their confidence, imagination and potential through the power of their writing and creativity.

We develop communication and leadership 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.

Since we were founded, we have supported more than 20,000 young people to harness their voice. In 2023/24 we provided creative writing opportunities for 3,295 children and young people - the most in the organisation’s history.

We can be found hidden behind the secret door in our fantastical shop Hoxton Street Monster Supplies. All the profits from the sale of goods in our shop support the work of the Ministry of Stories.

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 2024.

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 their own creative potential. Our methodology helps young people to gain confidence, grow in self-respect and learn new skills.

We have six core pillars which underpin how we work:

  1. Creating inspiring learning spaces

  2. Providing individual support from volunteer mentors

  3. Delivering effective writing programmes, led by professional writers

  4. Amplifying our young writer’s work through publications and performances

  5. Creating communities of writers

  6. Engaging local communities

Our young people drive our programme choices. The creative writing projects which form our community writing programme are now planned 18 months to two years in advance in close collaboration with our young writers.

We take a co-creation approach, meaning that our programmes are relevant, exciting and engaging for our young people. At Ministry of Stories, they decide the focus of our future programme, input their ideas throughout the development process, and determine how best to celebrate their achievements through a final artform.

Within a school’s context, we work with school leaders to identify the young people they seek to reach through a creative approach, and work with them to curate engaging and relevant programmes for their pupils.

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OUR REACH

This year, we are proud to have supported 3,295 children and young people to become writers - a staggering 42% increase on the previous year and the most in the organisation’s history.

Of these, 121 young people attended our weekly community writing programme, which delivered 179 sessions over the course of the year. We maintained a 76% attendance rate .

In addition, we supported 2,963 pupils through the delivery of 31 primary and secondary school programmes . As part of our schools partnerships, we worked with 165 teachers.

Through outreach work, special events and community activities, we reached a further 211 children outside of our regular programmes.

During this period, Ministry of Stories had a staff team of just 14 (9 full time equivalent), including the Hoxton Street Monster Supplies retail team.

We were proud to be supported by 218 individual volunteers (a 20% increase from 2022) who gave 2,967 hours to support our organisation. We also worked with 23 freelancers and commissioned projects with 21 additional artists .

OUR IMPACT

‘Ministry of Stories was definitely one of the best choices for my daughter - her creativity has outshone itself.’

We use our Theory of Change as the basis for our evaluation framework, utilising surveys and interviews with young writers, teachers, writing facilitators, parents and volunteers to understand the impact of our work.

The children and young people who attend our programmes:

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Young writers’ perspective

Our end-of-term surveys with our young writers show we continue to make great progress towards our outcomes:

97% said they felt safe at the Ministry of Stories

85% enjoyed taking part in Ministry of Stories writing programmes

‘I have learnt to just believe in myself.’

Parents’ perspective

Our annual survey of parents and carers show that overwhelmingly we have achieved the outcomes we aspire to:

100% said their child had enjoyed taking part in our writing programmes

100% felt their child was safe at Ministry of Stories

Teachers’ perspective

Teacher surveys, completed after every school project, demonstrate the ways our work is impacting in schools:

‘The students are now more engaged in the writing process, talking about writing, and supporting one another.’

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OUR NEIGHBOURHOOD

Our community writing programme (after-school and Saturdays) is provided for free and is accessible to children and young people aged between 6-15 who live within a 500m radius of our writing centre or who attend one of 9 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: 96% of our young writers live in areas in the top 30% 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.

We are proud that our writing programme reflects the rich diversity in our community: 82% of our writing programme members are young people of colour. 7% of our young writers have SEND, including Autism, ADHD, Dyslexia, Blindness, Deafness, cognitive difficulties and unspecified learning difficulties and mental health conditions.

MAIN ACTIVITIES - ACHIEVEMENTS AND PERFORMANCE

Our key charitable activities carried out in the financial year 2023-24 included:

1. Community Writing Programme

2. Schools Programme

3. Sector Support and Organisational Development

1. COMMUNITY WRITING PROGRAMME

Our weekly community writing labs are free and take place after school. They have now expanded to include five regular groups, made up of: 6-8 year olds, 8-12 year olds and an older group for 11-15s.

Highlights of 2023-24 Community Writing Labs include:

Life Through a Lens / ‘ My Hero is Nothing Like the Movie Heroes’

My Hero

My hero is nothing like the movie heroes, My hero knows what real solemn is. Do you have a hero that you know? Do you know a person that is not perfect, who has faced sadness before? Well, that’s a real hero!

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Life Through a Lens was our summer term flagship project, delivered in collaboration with Autograph Gallery, Shoreditch. Our young writers came up with the theme of heroes: what makes a hero, who our heroes are and how they are celebrated and elevated in our culture - stories of our unsung heroes.

The project culminated in a professional exhibition at Autograph, complimented by a professionally designed anthology, My Hero is Nothing Like the Movie Heroes . 106 young writers took part in the project and we delivered a total of 63 creative writing workshops. More than 60 people attended the exhibition. b

Life Through a Lens had a profoundly positive impact on our writers and it helped them to feel proud to explore their identities and localities through writing. As a result, 75% of young writers said it made them more confident and that their writing had improved. Our young writers also felt proud that they could share their poetry with their friends and family through their exhibition at the Autograph Gallery, in the same place as renowned artists and creatives.

Following the exhibition we were invited to tour the work to the University of Cambridge as part of their ‘InReach’ programme.

Messages - Letterbox Surprises

Your incredibility resonates across the world…

Our autumn term theme was Messages, with our young writers exploring the art of correspondence - from letters, to news articles, fan mail and even maps and board games.

Over the course of 12 weeks, we ran a total of 60 sessions. 88% of our young writers reported enjoying taking part, writing messages to a wide array of recipients, from footballers, aliens and a firm favourite, food.

The project culminated in a Letterbox Surprise : a personalised piece of writing created especially for someone of importance to each writer within our local community, sent by surprise through the post in a customised box.

This term saw 92% of our young writers reporting feeling more confident, reinforcing the importance of our sessions not only improving children’s writing but also their confidence and self-esteem.

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Time to Write

Time to Write is our annual free-write project where our young writers write according to their interests, leading them to explore different forms of writing such as poetry, songwriting, instructional writing and comedy.

This project saw 101 of our young writers engage in a wide array of writing prompts and activities over the course of 50 sessions, where they also engaged in a masterclass with a professional songwriter, learning how to hone their songwriting skills and perform their writing confidently in front of an audience.

With a focus on oracy and performance, Time to Write culminated in an end-of-term sharing where our young writers performed their work to an audience of family and friends.

Astronauts

Astronauts flying into space, impressing the aliens from the moon.

Other Community Programme achievements

In collaboration with other local partners we supported a number of community events through creative workshops and outreach sessions, including Coronation Street Parties and the Hoxton Street Summer Fair.

By invitation from the iconic London Library in central London, we developed an interactive treasure hunt for families that took place throughout the reading rooms, stacks and conservation spaces of the library - spaces typically reserved for private library members only. 24 of our families took part - secretly planting their writing in books around the library to be discovered by future visitors.

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In May half term we collaborated with Hackney-based inclusive youth theatre, Hackney Shed. The project brought together disabled and non-disabled young people from across Hackney to create an original short devised performance piece, shared with friends and family on the final day of the project.

In November, we celebrated turning 13 by hosting a party for more than 100 of our young writers and their families.

2. SCHOOLS PROGRAMME

‘This has been a fantastic project - the feedback from all the teachers who have been involved has been so positive, especially about the energy, the creativity and how fun the sessions have been.’

Our aim this year was to maintain the growth of our schools portfolio, with a secondary focus on the retention of schools from prior years. We continued to prioritise schools across the boroughs of Hackney, Tower Hamlets and Islington, delivering bespoke creative writing programmes for pupils and professional development and training for subject leaders and teaching staff.

We successfully achieved a 73% retention rate (exceeding our 52% average from the last five years), supporting a record 25 schools (increased from 22) across the year. We were pleased to maintain this momentum within the context of an exceptionally challenging funding climate for schools.

Our schools programme was delivered through through three key strands:

  1. Our Writing Brighter Futures consortium of schools in Tower Hamlets entered its third and final year, generously supported by The Mercers’ Company.

  2. Supporting individual schools to commission bespoke projects - inviting schools to identify a brief, priority or challenge, then working collaboratively with them and our freelance writing facilitators to programme in response - drawing reference from the organisational memory of previous creative programmes.

  3. Providing professional development for teachers and school staff, to improve teacher skills and share our methodology and approaches.

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Highlights of 2023-24 School Programme include:

The Islands of Magical Poetry (Hanover Primary School, Islington). A poetry intervention, designed to energise and inspire the whole school, and develop teacher skills and confidence in teaching poetry. The project resulted in a professionally produced printed-anthology.

‘Ministry of Stories has helped me expand my poetry knowledge and my imagination.’

The Never Forgotten (Kobi Nazrul Primary School, Tower Hamlets). Supporting the Year 6 topic of Vikings, and also helping pupils reflect on their primary school journey - through a variety of poetry forms. The project resulted in a professionally-designed and printed anthology, and performances to all other year groups across the school.

Spy School (Osmani Primary School, Tower Hamlets). An immersive project to support pupils with creating ‘explanatory texts’ through the creation of spy gadgets and missions. Each student presented their spy gadgets in a secret graduation ceremony. The project included a final professionally-designed and printed fold-out pamphlet.

‘Ministry of Stories has helped me be more confident in myself.’

Woolmore Stargazers Newspaper (Woolmore Primary School). Inspired by their class topic of Space, pupils created their very own school newspaper including news reports, reviews, adverts and opinion pieces, fictionalising real events like the moon landing.

‘I love the way Ministry of Stories encourages the children and doesn’t shut down ideas’

Speak Up (Bridge Academy, Hackney). Our long-running speech writing programme supports young people to find their voice on topics important to them. Speeches this year covered the rights of refugees, environmental issues, gentrification, key workers’ wages, and more. Some participants shared speeches about their own direct experience with knife crime in their families and their communities. Events this year were attended by more than 100 guests, including MP Meg Hillier, the Speaker of Hackney Cllr Anya Sizer, Mayor of Hackney Caroline Woodley, Baroness Hussein-Ece, Oxfam’s parliamentary liaison, and the CEO of St. Joseph’s hospice. _ Speak Up continues to be generously supported by UBS.

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‘Ministry of Stories added so much value to students' experience of studying English, most importantly, making them feel that they have a voice and that people care about what they have to say. It has also considerably improved Y9s Non-Fiction writing - evidenced by recent exams.’

Bridge Builders (E1 Partnership, Tower Hamlets) . A weekly after school writing club, for pupils from five primary schools alongside students from Swanlea Secondary School. It supported students vulnerable in the transition between primary and secondary school to familiarise with the secondary environment, and work collaboratively with peers from other schools. Pupils explored the idea of transition, creating a professionally illustrated ‘Poetry Map of the Football School for Exotic Fish’.

‘I am proud of being creative with my ideas and more confident in sharing ideas with others and overcoming social anxiety.’

- Maryam, Year 6 (Bridge Builders)

Teacher CPD

Alongside our delivery with children and young people, we have continued to deliver a range of professional development and training for teachers.

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, workshops and teaching resources, practitioners develop skills and practical techniques that they can use in their teaching practice.

113 teachers from 70 different schools took part in professional development sessions this year, with 100% reporting the sessions had a positive impact on their teaching practice .

‘This will help me make my lessons more engaging and improve my pupils' writing process.’

- Harley, Class Teacher, Mayflower Primary School

VOLUNTEERS

‘I really enjoy working with my writing mentor Maria. She’s kind, and makes me feel really confident.’

Volunteers remain fundamental to the delivery of our mission at the Ministry of Stories, mentoring our young people. This year we engaged 182 active volunteers (2022: 128 volunteers) who donated 3,120 hours to support our work (2022: 2,961 hours).

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42% of our volunteers live in our home boroughs of Hackney and Tower Hamlets, and 25% are people of colour - a 12% increase from the previous year - better reflecting our community.

3. SECTOR SUPPORT AND ORGANISATIONAL DEVELOPMENT

Equality, diversity and inclusion

‘I feel people at Ministry of Stories treat me as an ordinary person, not as a blind person, they know I can do stuff.’

We aim to run welcoming and open-access programmes and encourage young people 6+ from all backgrounds and experiences to get involved. Our work champions the underrepresented voices of young people in our community and creates a space for young people to explore and celebrate their diversity and life experience.

‘Ministry of Stories has helped me to feel proud of my race.’

We successfully delivered the second year of our Diversity and Inclusion Action Plan, increasing the proportion of people from under-represented groups across our trustee, staff team and volunteer bases. Changes to our demographic this year have included:

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Friendship

Friendship matters Friendship is not a thing. It comes from inside our hearts.

It’s not just for some people. Everyone is welcome to share it. No-one has to bear it.

I hope you all take down this note That wherever you are, Don’t give up hope You are perfect where you are. So never give up on your dreams You always have somewhere to be.

Environmental responsibility

Ministry of Stories has developed a two-year Environmental Action Plan which lays out the practical steps we will take to create a culture of environmental responsibility in and through our work. This sits under our overarching Environmental Policy, and is reviewed and updated biannually. Our progress is monitored by the Board and we have a nominated Board Champion.

We are proud that our overall environmental impact remains low, enabling our focus to be on culture and behaviours of environmental responsibility more widely. We continue to make opportunities for our young people to explore themes around environmental responsibility, most recently featured in work they chose to write for both Speak Up, and in our Time to Write terms.

Climate change

It was different days The Earth is warming Bees used to be swarming Ice caps are melting While the sun is setting We have to do something Instead of nothing Flooding Droughts. What are you doing? Seas are brimming

And we’ll all be swimming Why aren’t you listening? Use your ears And open your eyes

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Like you are using a very sharp knife Forests are flaming And we are complaining Except you do nothing Just sit down and think: Climate change

Our Home

Ministry of Stories operates out of a dedicated writing centre, hidden behind our magical shop Hoxton Street Monster Supplies. Located on Hoxton Street, in the heart of our community, our location is key to reaching families in our target ward. We are pleased to have renegotiated a successful lease extension on our current premises, securing favourable terms across a new eight year lease.

Our wider sector support work included:

‘Thank you for having me on board for the first year of this programme. It’s been so useful and I feel much more prepared to lead on projects than I did. It’s also been great to meet the other trainees and share that experience.’

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FUTURE STRATEGY

2024-25 is one of continued ambition for our young people, their families and our partner schools. We strive to create the highest quality experiences for our young people, celebrating the remarkable creativity, imagination and ingenuity that our programmes unlock in them. We will continue to create an environment where young people feel safe, trusted and respected. We will complete work on our Organisational Values, and also begin to focus on our ambitions around a longer-term home for the organisation.

As always, our Community Writing Labs remain at the heart of the organisation, serving our local community, and providing a space for innovation and programme development. This year we will work with at least 100 young writers across our weekly groups, aiming for:

+70% of participants reporting becoming better writers;

+70% of participants reporting feeling more confident;

+85% of participants reporting enjoying taking part in the projects

We will deliver a campaign to reconnect with previous Ministry of Stories participants, building a process for longer-term tracking to better understand impact over the longterm.

Whilst the schools climate continues to be challenging - both financially and with the unprecedented pressures they are under - we are optimistic for a renewed year of strong school partnerships . We will aim to retain at least 70% of schools from the previous year, reaching at least 23 schools and delivering over 100 workshop sessions. We will continue to offer a range of delivery models, scales and project costs to provide flexibility for schools. We will strengthen our emerging strategic partnerships at borough level with Hackney Education, with the aim of rebalancing the number of Hackney schools in our portfolio.

‘Everyone at Ministry of Stories is amazing. You have made all three of my children feel loved and love coming. Mailia now wants to work

for Ministry of Stories when she's older.’

Wild Children

Wild children are on the case Wild children in your face Wild children all over the place Wild children undo your shoelace! Wild children win the race! Wild children be stealing your toothpaste Wild children will come to your house and waste your food!

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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 quarterly 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 continues to be an important and active tool for the organisation.

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

  1. Continuing to realise the fundraising strategy, both in year and by re-securing multi-year/core funders.

  2. Managing the appointment and induction of our new Deputy Director Laura Perkins, joining the team in September 2024. The Deputy Director is a key role for the organisation, and a member of the executive team alongside the Director.

  3. Maintaining and developing the schools portfolio in the context of a challenging education climate - financially and in terms of the pressure schools are facing.

  4. Navigating a challenging retail trading environment to ensure Hoxton Street Monster Supplies continues to return a profit to the charity.

FINANCIAL REVIEW

Our largest sources of funding were public funds (34% of total income) and Trust and Foundations (33% of total income). Public funders included £93,020 from Arts Council England, and £40,567 from Mayor’s Office - Violence Reduction Unit (VRU). Trust and Foundation funders included The Mercers’ Company, City Bridge Foundation, Lightbulb Trust, and the Foundation for Future London.

Income also included donations from companies, individuals and community groups (17%), and we generated income from our schools programme (9%).

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 Note16 of the accounts.

Total income received was £524,382 (2023: £376,004). This was £392,765 excluding donated services and shop recharge income, which was within 3% of the cash target set for the year (£403,082). £146,917 of income was restricted, of which £31,350 will be carried forward to support future years’ activity.

Total expenditure this year was £574,783, including donated services. 48% supported our Community Programmes, with 45% supporting our schools activity.

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The remaining 7% contributed to raising funds. The unrestricted funds deficit of £55,818 was mainly represented by the planned transfer of £50,000 from the designated development fund to support activity in-year - and was within the budget approved by Trustees at the start of the year.

Donated goods and services were received during the year totalling £79,600, including legal expertise, a full redecoration of our writing centre gifted by the team at British Gas, free printed advertising, film and photography, and concept design, vinyl production and installation. We also benefited from free venue hire from local community partners and the use of a vacant retail unit in Leadenhall Market, gifted by the City of London Corporation. Additionally, we received a wide range of new book donations to build the library, and technical support to improve creative templates for one-off workshops.

Fundraising

This year represented the second year of our new Fundraising Strategy (2022-2026), with four workstrands:

  1. Replace multi-year funders

  2. Grow trusts, foundations and corporate support

  3. Consolidate relationships with individual and high value donors

  4. Learn and innovate across all areas

Our fundraising activities are run in-house with an internal fundraising team. 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.

Highlights of 2023-24 fundraising include:

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.

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In addition to our many regular donors and community supporters, during 2023-24 we were also proud to be supported by: Allford Hall Monaghan Morris (AHMM) Old Street District Partnership Allen and Overy Rachel Hood 1978 Trust Amazon Literary Partnership Raconteur Arts Council England Sherbourne in the Community British Gas Speaker of Hackney City Bridge Foundation The Fagus Anstruther Memorial Trust City of London Corporation The Mercers’ Company on behalf of Foundation for Future London The Charity of Sir Richard Whittington Grocers’ Charity The Scrivener's Company Lightbulb Trust Tom ap Rhys Pryce Memorial Trust Martin Schoernig UBS Motive Productions Vintners’ Foundation

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, thank you for funding the imaginations of our young writers. View our full list of supporters here.

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.

HSMS's retail presence continues to be an important part of the charity, providing a warm welcome to children and their families. 21% of new joiners heard about Ministry of Stories through the shop. It supports our ambition to diversify our income and demonstrates how seriously we take 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.

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For the second year running, Ministry of Stories indirectly benefited from generosity shown to Hoxton Street Monster Supplies, who were given the opportunity to run a second pop-up shop in a vacant unit at Leadenhall Market by the City of London between April - December 2023. This opportunity led to a donation of £7.5k by the shop to the charity which will be made during 2024.

RESERVES

The trustees have adopted a reserves policy through which we aim to maintain a level of unrestricted reserves equivalent to between 4-6 months running costs.

At 31 March 2024 the total funds stood at £317,589 (2023: £368,020).

The reserves comprise:

In early 2020, the Board designated funds from an unrestricted corporate donation to create a Development Fund to be utilised over five years to support our organisational growth ambitions, plus a contribution to core running costs and to underwrite our investment in a crucial staff role (Finance and Programme Administrator).

Through careful management of these designated funds, we have extended the spending plan to support us through to 2026.

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.

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.

24

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.

One new trustee was appointed this year, writer Inua Ellams.

Over the course of the year, three of our long-standing trustees, Nick Makoha, Mina Marsh and Piers Torday retired at the end of their second three year terms.

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 2023-24 we benefited from the skills of 23 freelancers. The majority of these roles are in place to deliver our schools programme.

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

25

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.

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 2024 was £70 (2023: £80). 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 2022-24.

The Trustees Report was approved and authorised for issue by the trustees on 5th November 2024 and signed on their behalf by:

_______ Michaela Greene Chair of Trustees

Date: 13th November 2024

26

MINISTRY OF STORIES SECTION 4. INDEPENDENT EXAMINER’S REPORT YEAR ENDED 31 MARCH 2024

I report to the trustees on my examination of the accounts of the Ministry of Stories for the year ended 31 March 2024.

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.

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

Date: 22 November 2024

27

The Ministry of Stories Statement of financial activities

(incorporating an income and expenditure account) For the year ended 31 March 2024

Unrestricted
Funds
Note
£
Income from:
Donations and legacies
3
272,377
Charitable activities
4
43,399
Other trading activities
5
61,689
Total income
377,465
Expenditure on:
Raising funds
6
39,378
Charitable activities:
6
Community programme
226,702
Schools programme
216,098
Total expenditure
482,178
(104,713)
Transfers between funds
48,895
Net movement in funds
(55,818)
Reconciliation of funds:
Total funds brought forward
342,087
Total funds carried forward
16
286,269
Net income / (expenditure)
before net gains / (losses) on		 Unrestricted
Funds
Note
£
Income from:
Donations and legacies
3
272,377
Charitable activities
4
43,399
Other trading activities
5
61,689
Total income
377,465
Expenditure on:
Raising funds
6
39,378
Charitable activities:
6
Community programme
226,702
Schools programme
216,098
Total expenditure
482,178
(104,713)
Transfers between funds
48,895
Net movement in funds
(55,818)
Reconciliation of funds:
Total funds brought forward
342,087
Total funds carried forward
16
286,269
Net income / (expenditure)
before net gains / (losses) on		 Restricted
Funds
£
146,917
-
-		 2024
2023
Total
Total
Funds
Funds
£
£
419,294
285,080
43,399
47,030
61,689
43,894
524,382
376,004
39,378
68,334
274,114
265,710
261,291
237,867
574,783
571,911
(50,401)
(195,907)
-
-
(50,401)
(195,907)
368,020
563,927
317,619
368,020
377,465 146,917
39,378
226,702
216,098		 -
47,412
45,193
482,178 92,605
(104,713)
48,895		 54,312
(48,895)
(55,818)
342,087		 5,417
25,933
286,269 31,350

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.

28

The Ministry of Stories Balance sheet As at 31 March 2024

2024 2024 2023 2023
Note £ £ £ £
Fixed assets:
Tangible assets 10 3,270 3,425
Investments 11 10 10
3,280 3,435
Long Term assets:
Current assets:
Debtors 12 41,706 47,120
Cash at bank and in hand 313,120 342,814
354,826 389,934
Liabilities:
Creditors: amounts falling due within one
year 13 (40,487) (25,349)
Net current assets 314,339 364,585
Total net assets 317,619 368,020
Funds 16
Restricted funds 31,350 25,933
Unrestricted funds:
Designated funds 66,190 116,190
General funds 220,079 225,897
Total unrestricted funds 286,269 342,087
Total funds 317,619 368,020

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 2024 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 5 November 2024 and signed on their behalf by:

Michaela Greene Chair

Company registration no. 07317370

The attached notes form part of the financial statements.

29

The Ministry of Stories Statement of cash flows For the year ended 31 March 2024

Note
Cash flows from operating activities:
Net cash provided by / (used in) operating activities
17
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
18
Cash and cash equivalents at the end of the year		 2024
2024
2023
2023
£
£
£
£
(28,535)
(192,766)
(1,159)
(3,321)
(1,159)
(3,321)
(29,694)
(196,087)
342,814
538,901
313,120
342,814

30

The Ministry of Stories Notes to the financial statements For the year ended 31 March 2024

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.

31

The Ministry of Stories Notes to the financial statements For the year ended 31 March 2024

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:

32

The Ministry of Stories Notes to the financial statements For the year ended 31 March 2024

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.

33

The Ministry of Stories Notes to the financial statements For the year ended 31 March 2024

2
Detailed comparatives for the statement of financial activities
2023
£
Income from:
Donations and legacies
185,311
Charitable activities
47,030
Other trading activities
43,894
Total income
276,235
Expenditure on:
Raising funds
68,334
Charitable activities:
Community programme
168,099
Schools programme
150,485
Total expenditure
386,918
Net income / expenditure
(110,683)
Transfers between funds
57,535
(53,148)
Net movement in funds
(53,148)
Total funds brought forward
395,235
Total funds carried forward
342,087
Net income / (expenditure)
before other recognised gains
Unrestricted
2023
2023
Total
£
£
99,769
285,080
-
47,030
-
43,894
99,769
376,004
-
68,334
97,611
265,710
87,382
237,867
184,993
571,911
(85,224)
(195,907)
(57,535)
-
(142,759)
(195,907)
(142,759)
(195,907)
168,692
563,927
25,933
368,020
Restricted

34

The Ministry of Stories Notes to the financial statements For the year ended 31 March 2024

3 Income from donations and legacies

Grants
Corporate Donations
Donations from individuals
Donations in kind
Community fundraising		 £
132,553
12,414
46,534
79,637
1,239
272,377
Unrestricted		 £
131,917
15,000
-
-
-
146,917
Restricted		 2024
2023
Total
Total
£
£
264,470
195,882
27,414
20,850
46,534
47,501
79,637
13,700
1,239
7,147
419,294
285,080

Donated goods and services were received during the year, including legal expertise, free printed advertising, film and photography, and concept design, vinyl production and installation. We also benefitted from free venue hire from local community partners and the use of a vacant retail unit in Leadenhall Market, gifted by the City of London Corporation. Additionally, we received a wide range of new book donations to build the library, and technical support to improve creative templates for one-off workshops.

4 Income from charitable activities

Unrestricted
£
Venue hire and consultancy
4,505
Post office income
2,005
Schools income
36,889
43,399
Income from other trading activities
Unrestricted
£
Trading Subsidiary income
9,405
Other income
52,284
61,689
Total income from charitable
activities		 £
-
-
-
-
£
-
-
-
Restricted
Restricted		 2024
Total
£
4,505
2,005
36,889
43,399
2024
Total
£
9,405
52,284
61,689		 2023
Total
£
1,150
423
45,457
47,030
2023
Total
£
11,000
32,894
43,894

5 Income from other trading activities

35

The Ministry of Stories Notes to the financial statements For the year ended 31 March 2024

6a 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
Net total
Support costs
Based on the total cost
of each activity
Governance costs
Based on the total cost
of each activity
Total expenditure 2024
Total expenditure 2023		 £
39,378
-
-
-
-
-
-
-
-
-
-
-
39,378
-
-
39,378
68,334
Cost of
raising
funds		 Community
programme
Schools
programme
National
programme
£
£
£
98,447
62,262
-
12,959
43,772
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
3,432
3,432
-
114,838
109,466
-
158,248
150,846
-
1,028
979
-
274,114
261,291
-
265,710
237,867
-
Charitable activities		 Community
programme
Schools
programme
National
programme
£
£
£
98,447
62,262
-
12,959
43,772
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
3,432
3,432
-
114,838
109,466
-
158,248
150,846
-
1,028
979
-
274,114
261,291
-
265,710
237,867
-
Charitable activities		 Support
costs
£
116,096
-
51,485
9,203
22,780
10,397
79,637
5,169
4,256
511
1,314
8,246
309,094
(309,094)
-
-
-		 £
-
-
-
-
1,440
-
-
-
-
-
-
567
2,007
(2,007)
-
-
Governance
costs		 2024 Total
£
316,183
56,731
51,485
9,203
24,220
10,397
79,637
5,169
4,256
511
1,314
15,677
574,783
-
-
574,783		 2023 Total
£
344,942
91,302
46,049
10,908
25,536
14,460
13,700
7,215
2,512
515
1,105
13,667
Community
programme
£
98,447
12,959
-
-
-
-
-
-
-
-
-
3,432
114,838
158,248
1,028
274,114
265,710		 Schools
programme
£
62,262
43,772
-
-
-
-
-
-
-
-
-
3,432
109,466
150,846
979
261,291
237,867
571,911
-
-
571,911

Of the total expenditure, £482,178 was unrestricted (2023: £386,918) and £92,605 was restricted (2023: £184,993).

36

The Ministry of Stories Notes to the financial statements For the year ended 31 March 2024

6b 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
Net Total
Support costs
Based on the total
cost of each activity
Governance costs
Based on the total
cost of each activity
Total expenditure 2023		 £
66,779
-
-
1,555
-
-
-
-
-
-
-
-
68,334
-
-
68,334
Cost of
raising
funds		 Community
programme
Schools
programme
National
programme
£
£
£
103,624
76,853
-
39,922
51,380
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
2,587
2,587
-
146,133
130,820
-
119,000
106,530
-
577
517
-
265,710
237,867
-
Charitable activities		 Community
programme
Schools
programme
National
programme
£
£
£
103,624
76,853
-
39,922
51,380
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
2,587
2,587
-
146,133
130,820
-
119,000
106,530
-
577
517
-
265,710
237,867
-
Charitable activities		 Support costs
£
97,686
-
46,049
9,353
24,536
14,460
13,700
7,215
2,512
515
1,105
8,399
225,530
(225,530)
-
-		 2023 Total
£
£
-
344,942
-
91,302
-
46,049
-
10,908
1,000
25,536
-
14,460
-
13,700
-
7,215
-
2,512
-
515
-
1,105
94
13,667
1,094
571,911
-
(1,094)
-
-
571,911
Governance
costs
Community
programme
£
103,624
39,922
-
-
-
-
-
-
-
-
-
2,587
146,133
119,000
577
265,710		 Schools
programme
£
76,853
51,380
-
-
-
-
-
-
-
-
-
2,587
130,820
106,530
517
237,867

Of the total expenditure, £386,918 was unrestricted and £184,993 was restricted.

37

The Ministry of Stories Notes to the financial statements For the year ended 31 March 2024

7 Net income / (expenditure) for the year

This is stated after charging / (crediting): 2024 2023
£ £
Depreciation 1,314 1,105
Independent examination fee 1,200 833

8 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		 2024
2023
£
£
284,095
305,023
24,293
30,254
7,795
9,665
316,183
344,942

There were no employees (2023: 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 £115,034 (2023: £121,615).

The Charity trustees were not paid or received any other benefits from employment with the Charity or its subsidiary in the year (2023: £nil) neither were they reimbursed expenses during the year (2023: £nil). No charity trustee received payment for professional or other services supplied to the charity (2023: £nil).

Staff numbers

The average number of employees (head count based on number of staff employed, including part-time Shop staff) during the year was 14 (2023: 10).

9 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.

38

The Ministry of Stories Notes to the financial statements For the year ended 31 March 2024

10 Tangible fixed assets

Tangible fixed assets
Cost
At the start of the year
Additions in year
Disposals 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
All of the above assets are used for charitable purposes.
Disposals in year		 Total
£
£
24,407
24,407
1,159
1,159
(19,152)
(19,152)
Equipment
6,414
6,414
20,982
20,982
1,314
1,314
(19,152)
(19,152)
3,144
3,144
3,270
3,270
3,425
3,425

11 Fixed asset investment

At the end of the year
Charity
Cost or valuation
As at 1 April 2023
~~Additions~~		 2024
2023
£
£
10
10
~~-~~
~~-~~
10
10

Hoxton Street Monster Supplies Ltd

Current and Prior Year 2024 2023
Equity held Turnover
No. % £ £
Main trading activity: Retail 10 100 138,657 120,369
Profit for
the year
£ £
Hoxton Street Monster Sup plies 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.

39

The Ministry of Stories Notes to the financial statements For the year ended 31 March 2024

12 Debtors
Trade debtors
Other debtors
Prepayments
Accrued income
Debtors		 2024
2023
£
£
4,038
700
22,111
21,621
3,000
3,000
12,557
21,799
41,706
47,120

13 Creditors: amounts falling due within one year

13
Creditors: amounts falling due within one year
Trade creditors
Taxation and social security
Other creditors
Accruals
Deferred income
14
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		 2024
2023
£
£
14,968
10,275
4,732
49
545
545
14,440
1,000
5,802
13,480
40,487
25,349
2024
2023
£
£
13,480
3,460
(13,480)
(3,460)
5,802
13,480
5,802
13,480

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

15 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
£
£
£
£
3,270
-
-
3,270
10
-
-
10
216,799
66,190
31,350
314,339
220,079
66,190
31,350
317,619

40

The Ministry of Stories Notes to the financial statements For the year ended 31 March 2024

16 Movements in funds

Movements in funds
Restricted funds:
The Mercers' Company
ACE Pathfinders
UBS Speak Up
VRU
City Bridge Foundation
Sherborne in The Community
Other Restricted Funds
Total restricted funds
Unrestricted funds:
Development Fund
General Funds
Total unrestricted funds
Total funds		 Transfers
£
£
£
£
£
13,751
22,500
29,465
-
6,786
3,499
2,267
3,365
(2,401)
-
8,683
-
6,910
-
1,773
-
40,567
39,255
-
1,312
-
23,590
13,610
-
9,980
-
5,000
-
(5,000)
-
-
52,993
-
(41,494)
11,499
At the start
of the year
Income &
gains
Expenditure
& losses
At the end
of the year
25,933
146,917
92,605
(48,895)
31,350
116,190
-
-
(50,000)
66,190
225,897
377,465
482,178
98,895
220,079
342,087
377,465
482,178
48,895
286,269
368,020
524,382
574,783
-
317,619

Transfers between funds

A cost transfer of £48,895 (2023: £57,535) has been made from restricted funds to unrestricted funds relating to indirect expenditure.

41

The Ministry of Stories Notes to the financial statements For the year ended 31 March 2024

16 Movements in funds Purposes of restricted funds

The Mercers' Company

Funding for the final delivery year of 'Writing Brighter Futures', an ambitious programme of works with a consortium of schools in Tower Hamlets. The three year funding for the partnership is from The Charity of Sir Richard Whittington, a charity associated with the Mercers’ Company. An additional Bridging Grant was successfully secured to complete programme delivery during 2023/2024.

ACE Pathfinders

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

UBS Speak Up

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

VRU

Greater London Authority (GLA) Stronger Futures grant for London Violence Reduction Unit (VRU) Programme for Your Story Starts Here (age 10+).

City Bridge Foundation

Grant award over three financial years to deliver creative & leadership focused-programmes for disadvantaged young people and early-career writers, and associated costs, as part of our Your Story Starts Here community programme. Funding from the CBF Voice and Leadership funding strand.

Sherborne in The Community

Other Restricted Funds

These include grants from Foundation Future London grant funding for Writing Brighter Futures (Hackney) schools programme for 2023/24, the Lightbulb Trust (for Your Story Starts Here programme) and the Tom ap Rhys Pryce Memorial Trust.

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 three years.

42

The Ministry of Stories Notes to the financial statements For the year ended 31 March 2024

17 Reconciliation of net income / (expenditure) to net cash flow from operating activities

17 Reconciliation of net income / (expenditure) to net cash flow from op erating acti vities
2024 2023
£ £
Net income / (expenditure) for the reporting period (50,401) (195,907)
(as per the statement of financial activities)
Depreciation 1,314 1,105
(Increase)/ decrease in debtors 5,414 595
Increase/ (decrease) in creditors 15,138 1,441
Net cash provided by / (used in) operating activities (28,535) (192,766)
18 Analysis of cash and cash equivalents At 31
At 1 April Other March
2023 Cash flows changes 2024
£ £ £ £
Cash at bank and in hand 342,814 (29,694) - 313,120
Total cash and cash equivalents 342,814 (29,694) - 313,120

19 Legal status of the charity

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

20 Related party transactions

Aggregate unrestricted donations from Trustees during the year were £2,520 (2023: £660). There were no payments to Trustees in year (2023: £0).

Income from the trading subsidiary disclosed in Note 5 includes £8,907 (2023: £11,000) in relation to the surplus to be gift aided to the Charity and £51,980 (2023: £32,894) in management fee income in respect of salary costs.

43