Charity registration number 1141649 Company Teglstratlon number 075156S3 (England and Wales) SETTLE STORIES LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
SETTLE STORIES LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustsgs CPBond Dcox D I Culler M E Dawsr)n A J DLircan T M Edwards P Slachnik S C Whilakei Ms E Reed Ms H R Nakhwal Ms B L Eldridge (Appointed 20 July 20231 (Appointed 29 December 20231 Chhir Vico Chair A J Durcan M E Dawson Senior managgrngnt Sila Brand Jonathan Tuinbull Artistic Director and CEO Head ol Sales and Business Development Charlty number 1141649 Ctsmpany number 07515653 Rogistered office The Joinery Dawson's Court Market Place Settle North Yorkshire England BD24 9ED Independent examiner V J Atkinson BK Plus Limited 52 Sl Johns Lane Halifax Wesl Yoikshire HX12BW Banker8 The Co.operalive Bank 1 Balloon Str$el Manchester M4 4BE Unity Trust Bank 4 Blindly Place Birmingham B12JB
SETTLE STORIES LIMITED CONTENTS Pagè Chair ol Trustees slalemenl TTuslees' report Independènt examiner's report Statement ol financlal activities Balance 5hÈÈt 10 Slalémenl of cash flows Notes lo the financial slatements
SETTLE STORIES LIMITED CHAIR OF TRUSTEES STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 Reflecling on Settle Stories, work, achievernenls and challenges in 2023124. it is clear th81 the Charity is continuing lo make significant progress with its thange programmes". W8 are increasingly well known for th? quality ol our digital as well as f8ce lo face programme dèliv8ry. In 2023, we delivefed a successful Yorkshire Festival of Story IYFOSI. We have continued lo develop our base. the Joinery, so that it can becorne a niche venue in lefm5 of digital and broadGasl capacily, and IDcal and online prograrnrne delivery, We have completed our fir51 year as an Arts Council Enoland National PDrtlolio Organisation, with a funding package ol up lo four years from Apiil 23 to support Dur core costs. The full detail of our work in the last financial ye8r is given in the various sections ol this Trustees, report, From another successlLEI YFOS, artists, ietieals (including ID inform the development of Slorylul Way), masterolasses, ommunity based activilies, and continuing lo develop Dur inlernalional links, lo broadcasting real time inlernational evgnts and discL¢S5ions in local schools - I believe that Settle Stories is really well placert lo continue lo grow ils programmes and audionces, and help enrich people's Iiv8S through the power ol slorylelling. We would like to restate our thanks to all our funding organisations and individual lunders without whom Sellle Stories would ntsl exist. Arts Gouneil England Paul Hamlyn Foundation North Yoikshire Council The Cravan Trust The Spark Fund Malional Lollery Heritage Fund Finally I wguld like lo thank the Sellle Stories Team lincludlng all volunteer51 and my fellow Trustees for all their hard work in strengthening the fange and quality ol the chaiity's products, and for delivering and supporting anolher successful year wilh high quality cullural programmes. Through their commilrnenl Ihe Charity conliriu8S to develop ever more creative ways ol strengthening Sellle stOrs, position within Craven and far beyond. A J Dur¢an Chair Oale..
SETTLE STORIES LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The Iruslees piesènt their annual report and financial statements for Ihe year ¢nded 31 March 2024. The financial slatements have been prepared In accordance with the accounling policiÉs sèl DUI in note I lo the financial slatem&nls and comply wilh the charity's Igovèming documenll, the Companies Act 2006 and "Accounting and Reporting by Charities.. SlaleTHent ol Recommended Pradice applicablè to charities preparing Ihpii accounts in accordance with the Financial Reporting Standard applicable in the LJK and Republic ol Ir&land IFRS 1021" leffèelive 1 January 20191. Obje¢tlve$ and activities a. PolicÈts and objectives S81110 Storie5 is a Gharily with a mission lo collaboiale with exceptional artists lo create tiansformalive experienGes for pèopl8 and communities. Stories are tho most powerful way to engage. inspire and move pgople lo aclion. We teach the art of 51orytelling so that people can make a difteron¢e. We shale storiés from diveise cultures across Ihe 9lobe, explore Ir3ditional myths and lolklales and reveal cuiient stories DI today. We present stories through year round events, and our livè and online workshops, relal$ and learning progiammg5 connect people and are open lo all. Through our schools programme we work with thousands of school childien annually. Vle work closely with Qui iural community by ¢o- creating pmjects, bringing Into focu5 hidden stories, and enabling the vulnerable and disinvestsd people lo have a voice. b. Strategies for achlovin9 oblgCtSve5 Vve arE an independént arts charrty based in Sellle In Ihe Yorkshiie Dales, one of the most rLErally isolated parts of the UK. From our veriue, The Joinery, and online, we challenge perceptions of art produced rural areas. Our aims.. To produce narrative cenlrerl, socially relevant art using a rango of media for people acros5 Yorkshire Ihrou9h Yorkshire Festival of Story. To sUPPOrt artis15 and individua15 on Iheir quest lo come gal slorylellers. To bring cultural aclivily and creative expression lo diverse communilies. To promot8 a dynamic and creative approach to1earning through slorylelling for children and young ptople. To build a homè for adventurous slorylelling Irom The Joinery in rural Yorkshire, Our value5'. Be open and inclusivé. Encourage curiosily. Be the best you can. Be mindlul. Think creatively,
SETTLE STORIES LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 ¢. AGtlvltles undert#k•n to achieve obl•ctlves Sellle Stories has developed a range of well èstablished ar1151ic progiatnmes and events lo dèliver ils objectives. It also continuas lo develop, lest end refine newer programmes, especially in terms of ils schoo5s programme. Example5 include,. Yorkshir• Festlval of Story IYFOSI., Tho 2023 theme was.. 'If stories and laiw tales speak Imlh to power. how can 17è1p us lo aGhiev@ jusliGg in the wortd?, Ja¢k Zipes was Festival Direelor. Took place from 3 - 19 November 2023, in a range of media, both in-person and livestreamed. Yorkshire Feslival of Story had a wide programme ol aclwilies lo suit all audiencès. Thè audience loi Yoikshire Festival of Story was glob81. coming from six conllnenls. There were 63 events 119 in per50nl, some delivered in partnership with North Yorkshire Libraries, Skipton Town Hall, Action foi Climate Emeigency. Roselta Life, Msitu wa Ndolo. The Children's Story Competition was judged by Alinuke. Total Allendance 6143 43°/D of the audience was new lo Sellle Stories.. 78°k ol the audiÈnc8 are women 29Q/o are those with disabilities or health conditions and 8Q/a neurodivergent 72Q/o valu8 the free offer stories for Schools Developed a programrne of aetivily lor Sloiies lor School$ and run evenls and activities lor Schools. We reached 32,000 children through our di9ital and in-pgrson events. World Book Day British Science Vveek Sland up lo 8ullying Di%vali Remembrance Day Africa Day Ramadan Black History Month.. Children's Mental Health week christmas We have also created a new sile for Stories for Schools with a rJng& ol resources rel*¢d lo the curriculum. Initial lesling of the sile lor schools has also bèen completed. Artist Developm•nt W8 filmed three new courses for our plallorm Storyv@rsily. We have 198 learners, most ol Ihesg are for our Iree course, In addilion we have run a range of workshops and maslerclasses. Thi5 inclvdes,. Monthly Settle Writers Group Monthly Croalive Writing and Mindfulnes5 Classes Maslerclas8es ClimalB Justice in partnership with Adverse Camber Enlrepieneurship for Artists wilh the Burnley Festival Slorylelling for teachers- September
SETTLE STORIES LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 The Storyful Way We have developed a new prografflme of work using storytelling, mindfulness and creative activities to build resilience and mental wèll-b&ing for ptttnary schools. We dèvèloped the prograrnThe with Artists through an in- peison ielreat as well workshops in the cla55100m. The work is being externally evaluated. The Charity contlnuès to develop ils digital skslls and eapacily so that il call leach new and wider audi8nces, and rgmDve barriers lo partiapalion. This includes investing In smarter lechnology for internal operations as well as udience lacing plallDrms. We have invested in the latest broadcasl technology at the JoinÈry, which will enable us to improve OUT delivery of hybrid event5, and lo make the Joinery itself a niche venue in CrAven. As part of our NPO agTeefflenl w¢ have agreed lo undertake a Perception Audit aboul Sellle stors. We are working with Lancaster Univer8ily lo deliver this. d. Public banefit In setting objeclivos and planning for aclivilies, Ihe Truslees have givan due con8ider81ion lo general guidance publishad by the Charity Cornmission relating lo public bsnefit, including lh¢ guidance 'Publi¢ benefit.. running a charity IPB21'. AchieveTnents and pertormance Significanl aclivilies an(1 aohievemenls a9ainsl objgcIIvgS Main achi&vemonts of th• ¢harlty: 2023124 proved lo be another good year lor Sellle Storie5. W6 continued lo build on Ihe lessons lÈarn6d during the pandemic, on the experience the team has gained in terms of digital delivery, and on ernerging opportunities as we build on the post covid period. 2023124 was also significant in terms ol developing the thinking behind Stories for SchDols, building production and delivery expertise, dbveloping the back catalogue, relevant partnerships, and pxploring funding opportunities. We had another successful Yorkshira Festival of Story with Jack Zipes as Festival Guest Director. The Charity has also reviewed ils slafflng and organisatiollal structures, taking advantage of natLtral churn and staff iationalisalion lo bring in new ski115 and develop a more agile workforce to help the orgaflisation to deliver ils existing and developing programtnes.
aETTLE STORIES LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Financial review Golng ¢on¢ern After making appropriate enquiries, the Trustees have a ieasonable expgclatson Ihal the charity has adequate resources lo continue in op¢rallonal existence for the foreseeable future. For this rÈ2s0n, they continue lo adopt the going concern basis in preparing the financial slalèmenls. Further details regarding the adoption of the going concern basis can be loufjd in the accounling policiès. b. Fundraising The fundraising land finan¢ial ¢limale generally) remains very challenging éspecially for smaller charities. and our successes have been fewer in 2023124. c. Reserv98 policy The Trustees aim to maintain free reserve5 in unrestricted fun(fs al a level which equates lo approximately three months of non-project speGific expenditure. The Truslèès ¢onsider that this level will provide suffieiènl knnds lo respond to applications for grants and ensure thal support and governance cos15 ale covered. The Opeiating costs for Settle Storias srè curienlly rur)ning at £13,518 per monlh which includes overheads associated with tenancy of the Joinery, office and adminislralion cosls and staff costs for permanent employees. Th& Trustees consider £40,555 13 limes overhead coslsl approprlate lor FY 23124 and will hold this amount in unreslricled funds as re5ervf S, Reserv8s poli¢y fc>r Sellle Stories is reviewed annually al the AGM. Structure, governanc& and management a. Constitutlon Settlè Stories Limited is regislerod as a chari13ble company limited by guarantee wilhoul shar& eapilal. b. Methods of appolntment orelection of Truslegs The management ol the charlly is the responsibility of the TIu51ees who ar8 èlècted and co-opted under the term5 of the Memorandum and Articles ofAssoaation. c. PollcÉes adopted for tho induction and training of Trustees A govemance review was carried ctul inlefnalty in 2022, and identified lulure training needs lor Trusleès afid a150 skills gaps among51 Ihg curienl Board. Work is ongoing lo recruit new Trustees with financial, commercial. e- commerce and arli5tic practice skills and oxpeiience. The Board is 5UPPOrted by a Finance commillee, a Digital commillee, and a Remuneralion Committee which meèls nnually lo consider salaries and Dlher employee related 155ues. To enable the Charity lo focus on developing ils key pioducls (especially Stories for Schools) the last year has also seen an emphasis on product developmènt and refinement Iiathei than actual sales) to ensuré wé are in thè bèst position when we relaunch the setvice ofler. This émph26is on producl development ha6 been reflected in a review Of staffing resources. We have appointèd Lynne Wilson as PR and Marketing Manager After 8 years, Gillian Muir, Financial Officer moved on Ip work lor Giggleswick school. W6 have replaced her role with a service purchased from Heather Paiker, an experienced Bookkeepèr and Irained accounlanl, We continue lo work with 5 inlerns in partnèrship with Lancaster Unwer5ily who developed new skills al Ihè same lime as providing additional capa¢ily for the Charily. WÉ have also worked with 38 volunlf ers over the period April 2023-MaF¢h 2024.
SETTLE STORIES LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORTI (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Tho Iruslees, who are also thè directors for the purpose ol company law, and who served during the year and up lo the dalg of signature ol the financial slalements weie.. CPBond PA Brown Dcox D I Culler M E Dawson A J Durcan T M Edwards B L Eldridge H R Nakhwal E Reed P Stachnik S C Whitaker Ms E Reed Ms H R Nakhwal Ms B L Eldridge IAppoinled 20 July 20231 (Appointed 20 July 2023 and resigned 12 July 20241 (Appointed 29 Oecember 20231 (Rpsigned 14 February 20241 (Resigned 27 Septembèr 20231 (Resigned 20 July 20231 The trustèès, report was approved by the Board of Trustees. A J Durcan Trustee Date".
SETTLE STORIES LIMITED STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The Irvstees, who are al50 the directors of Sellle Stories Limited for the purpose of Gotnpany lavi, are responsiblè for preparing the Trustees. Report and the financial stalemen15 Irt accordance with applicable law and United Kingdom Acmunling Standards Iuftitod Kingdom Gener81ty Accepted Accounting Praclicel. Cotllpany L3w roquires the trustees lo prepare fin3ncial slalemenls for each finanrjal year which give a tfue and lair view of the slate gf affairs DI the charity and of the incoming rèsources and application of resources, including the incorné and expenditure. of the charitablè company loi that year. In preparing these financial slalemen15. the Iruslees are required lo.. s¢lecl suitab16 accounting policies and then apply Ihem ¢onsistenlly', observè the methods and principl?s in the Charities SORP., make judgements and èstimates Ih4t are reasonable and prudent., and prepare the financial slalemenls on the going concern basis unless il is inapproprlale lo presume that the charily will continue in opsralion, The trustees are responsible lor keeping adequate accounting records that disclose with reasonable accuraey at any time thè financial position ol the charity and enable them lo ensure that the financial stalernenls comply wilh the CDmpanies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence lor taking reasonable steps lor the prevention and detection of fraud and other iiie9ularilies.
SETTLE STORIES LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SETTLE STORIES LIMITED I report lo the tiuslees on my examination of the financial slat¢menls of Sellle Sloiies Limited Ilhe charilyl for th year ended 31 Mar¢h 2024. Responsibi1Sties and basls of report As the Iruslees ol the charity land alsts its dirÉctOTS for the purposes of cornpany lawl you are responsible loi thè preparation of the financial statemen15 in accordan with the requir6menls ol the Companies Act 2006 Ilhe 2006 Acti. Having satisfied myself that the financial 51aletllenls of the chaiity ar8 not requiied lo be audited under Part 16 of the 2006 Act and are eligible lor independent examinalKJn, 5 report in respect ol rny gxamination of the chaiily's financial statements carried out under section 145 of the Charities Act 2011 Ilhe 2011 Act). In carrying out my examination I have followed all the applicable Diie¢lions given by the Gharily Commission under section 14515llbl of the 2011 Act. Ind¢pond•nt examiner'5 Statement Sln¢e the charity's gross income exceed¢d £250.000 your examiner musl be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified lo und8rtake the examination because l am a member of Association of Charlered Certified Accountants, which 15 one ol the listed bodies. I have completed my examination. I confirm that no rnalters have come to my allenlion in connection wilh the examination giving me cause lo believe Ih81 in any maleiial iespecl.. accounting records were nol kept in respect of Ihe Charity as required by section 386 of the 2006 A¢l', or the financial stalemellls do not accord with those reGords", or the financial statements do not comply with the accounting requirements ol section 398 01 the 2006 Ad other than any requirement that the accounts give a truè and lair view which is not a rnaller considered as part ol an independent èxamination., or the financial statements havè not been prepared in accordance with the melhods and principles ol the Slalemenl of Recommended Piaclice for accounting and reporting by charilies applicable to charities preparing their accounts in accoidan¢e with the Financi¥l Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concèrns and have come across no other matters in conllection with the examination to which altènlion should be drawn in this report in order to ènable a propel understanding of the financial slaletnents to be reached. V J Atklnson BK Plus Limited 52 Sl Johns Lane Halifax Vvest Yorkshire HX12BVV
SETTLE STORIES LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unre5trict?d R&$tricted funds funds 2024 2024 Totsl Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Notes Income from.. Donations and legacies Charitable activities 180.402 17.769 97,997 1.163 258,399 18,932 17.880 10,569 177.084 14.395 194.964 24,964 Total income 178,171 99,160 277.331 28,449 191,479 219,928 Expenditure on.. Ch3Yitable activities 187,128 96,478 283,606 27.321 210,711 238,032 Total expenditure 187,128 96,478 283,606 27,321 210.711 238,032 Net in¢omellèxpenditUTel 18,9571 2,682 16,2751 1,128 119.2321 118,1041 Transfers beiweon funds 114.0431 14,043 119,7031 19.703 Net movgmènt In funds 123,0001 16,725 16,2751 118.5751 471 118,1041 Rèconciliation of funds: Fund balances al 1 April 2023 78,758 28,e14 107,372 97,333 28,143 125.476 Fund balance8 at 31 March 2024 55,758 45,339 101,097 78,758 28,614 107,372 The statement ol financial aGINities includes all gains and losses recognised in the ysai. A11 income and expenditure derive from continuing activities.
SETTLE STORIES LIMITED BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Nolps Fixed assets Tangible asse15 11 15,592 14,580 Current asséts Debtors Cash at bank and in hand 12 5,224 120,495 45,441 86,766 125,719 132,207 Creditors: amounts falling due within one year 14 126,6911 118,1911 N9t ¢urrènt assets 99,028 114,016 Total assets lès$ ¢urrent liabiliti•s 114,620 128,596 reditors.. amounts falling due after more than year 15 113,5231 121,2241 Net as$8ts excluding pansion liabillty 101,097 107,372 Net a5sÈts 101.097 107,372 The funds of the charity Restricted incomF funds Unrestrictèd funds 17 45,339 55.758 28,614 78,758 101.097 107,372 The cornpany is enlilled lo thè exemption from the audit requirement contained in saclion 477 of the Compar¢ies Act 2006, for the yeaf ended 31 March 2024. The directors acknow18dge their responsibilities for complying with the requirements of Ihe Companies Act 2006 with respècl to accounting records and the pr8paralion of finan¢ial statements. The rnembeis havo not required thè company lo obtain an audit of its financial slalements lor the ye8r in question in accordance with sgotion 476. These financial statements have been pieparEd in accordanca with the provisions applicable lo companies subjed lo the small companies regime. The financial statements wer8 appiow¢d by the trustees c*n .1g/W.J.Q.Jty.... A J Durcan Trustee Company IEgisl¥alion numbèr 07515653 IEngland and Walosl 10
SETTLE STORIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 A¢¢ounting poli¢l•s Charity informallon Sellle Stories Limited is a private company limited by guarantee incorporated in England and Wales. The reoislered office is The Joinery, Dawson's Court. Market P18ce. SEttle, North Yorkshire, B024 9ED, England. 1.1 Accounting conventlon The financial 61alemenls have been prepared in accordance with the charily's Igovèrning documenll, thè Companies Act 2006, FRS 102 The Financial Reporting Standard applicable in the UK and Republic ol Ireland" I'FRS 1021 and the Charities SORP °Accounling and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparin9 their accounts in accordance wilh the Financial Reporting Standard applicable in the UK 8nd Republic of1181and IFRS 1021" l¢ffeclive 1 January 20191. The charity Is a Public Benefit Enlily as defined by FRS 102. The financial slaleTnents are prepared In sterling, which is the functional currency of the charity. Monelary amounts in these financial slatemen15 ai8 iounded lo the ngaresl £. The financial statements have bean prepared undèr the hisloriGal cost convention, Imodified lo include the revaSuation ol fieehold properties and lo include invèstment propeilies and certain financial instruments at lair valuel. The principal a¢counling policies adopted are sel out below. 1.2 Going concern At the lime of approving Ihe financial slalements. the truslees have a reasonablè expectation that Ihe charity has adequate resources lo conlinue in operational existence lar the foreseeable future. Thus Ihe trustees ¢onlinue lo adopt thè going collcern basis of accounting in preparing the financial slatemenls. 1.3 Charitable fund¥ Unreslricled funds are avai13bl8 for use at the discretion ol the Iru51ee5 in lurlherance of Iheir charil8ble objective5. Restricted funds are subject to spècific colldilions by donors or grantor5 a8 to how they may be used. Thè purposes and use8 of the reslricled funds are sel out in the notes lo the financial stat8menls. Endowment funds are subject lo specific condition5 by donors that the capital must be mainlalned by the charity. 1.4 Income Income is recognised when the charity is legally éntitled lo it aftBr any performance conditions have been mel, the amounts can be measured Teliably. and it is probable Ih81 income will be received. Cash donations are recognised on receipt. Other donations are reGognised once the ¢harily has been nolilied ol the donation, unless performance condilions require deferral of thé amount. InGome lax recoverable i ralalion lo donations recelvod undef Gift Aid or deed5 of ¢ovenanl is recognised al the time of the Ilonation. Legacies are rEcognised on receipt or otherwise if the ¢harily has bèen nolilied of an impending distribution, thè amount is known, and re¢61Pt is expèeted. If Ihg amount is not known, the lègacy is Iiealed as a conlingenl asset. 11
SETTLE STORIES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Icontlnuedl 1.S Expenditure Expen(Jilure is recogni5ed onoe there is a legal or conslru¢lNg Dbligalion lo transfer economic b9nefit ID a third party. it is probable that a Iiansfer of economic benefits will be required in selllemenl, and the amount ol the obligation can ba measuied ioliably. Expènditure is classified by aclivily. The costs ol each activity are mado up of the total ol direcl costs and shared costs, including support costs involved in undertakit)g each aclivily. Direct costs attributable lo a single activity ale allocated directly lo that activity. Shared CDSts which conliibute lo more Ih3n one activity and support cost5 which are not allribulable lo a single aclivily are apportioned bètween Ih05e activities on a basis consislenl with lh6 use of re50urces. Centi81 staff oosls arg allocated on thè basis ol lime spÈnt, and dgprecialion charges are allocal8d on the portion of tho assel'5 use. 1.6 Tanglble fixed assèts Tangible fixecl assets are initially measured al GD51 and subsequently measured at cost or valuation, nel of dèpreciation and any impairment losses. Depreciation is re¢o9nised so 8$ ID write off Ihe r05t or valuation of assets less Ihair residual values over their Usèful lives on th8 following bases.. Project equipment Fixtures and fittings Computer equipment 25QA reducing balance 25QA 133.10 ieducing balance 33010 reducing balance The gain or loss arising on Iho disposal of an asset is delerrnined as the difference beeeN the sale proceeds and the carrying value of the assèt, and is Tecogllised in the stalement of financial aclivitses. 1.7 Impairmènt of fix*d a$sots Al each reporting end dale, the ¢harily reviews the carrying amounts of ils tangible assets lo determine whÉther there is any indication Ihal those assets have suftered an impairment loss. If any such indication exists, the recover8blÈ amount of the asset is e51imaled in order lo dèl8rmine the exlenl of thè impairment loss lil aTryl. 1.8 Cash and cash equivalents G8sh and cash equivalents includa cash in hand, deposits held al call with banks. olhpT shorl-lerm liquid inveslmenls with original malurilies of three months or less, and bank overdrafts. Bank oveidrafts are shown within boriowings in currént liabilities, 1.9 Flnanclal Instruments The charity has elected lo apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'othèr Financial Instruments Is5uès' of FRS 102 to all of 115 flnancial inslruTvenls. Financial instruments are recognised in the charity's balance sheet when the charity becomes parly lo the conliadual provisions ol the instrument. Financial assèts and liabilitlQ5 are offset, with the nel amounts pre59llted in the financial slalements, when there is a legally ènforceable light lo sel off tho cogniSed arnounls and there is an Intention lo Sgllle on a nel basis or lo realise the asset and séllle the liability simultanéously. 12
SETTLE STORIES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 IWARCH 2024 Accounting policies Icontinuedl Basic financial assets Basic financlal assets, which include d&blors and cash and bank balans, are initially tpeasured al transaction pr4ce including transaction costs and are sub8equenlly carried al amDrtiSf#d cost using the &ffèctive interest method ullless the arrangernenl constitutes a financing Iran5acliDn, where the Iransaclion is measLired al the present valu6 of Ihe luluie rec8ip15 discounted al a market rale ol interest. Financial assets classified as rEceivable within onè year are not amortised. Bas1¢ flnancial liablliliès Basic financial liabilities, including créditors and bank loans are initially ièeognised al transaction price unless the arrangement GDnslitutes a financing Iransaclion, where the debt inslrutnenl is measuied 81 Ihe present Value of the fuluie payments discounted al a market rale of interèst. Financial liabilities classified as payable within year are not #mortised. Debt instruments are subsequBnlty carried at amortised cost, using the effective interest rale method. Trade credilois 8re obligations lo pay for goods or services that have been acquired in the ordinary course ol tpèrations from supplipis. Amounts p8yable are classified as current liabilities if payment is dLJe within one year or lass. 11 not, Ihoy are presented as llon-currenl liabilitiès. Trade creditor5 are recogni5ed initially at transaction price and subsequèntly measured at amortised cost using the effective int8resl method. Dergcognition Df financial liabililie Financial liabililles are derecognisèd when the chaiity's contractual obligations expiie or are discharged or ancèllèd. 1.10 Employee b*n•flts The cost of any unused hollday enlillemenl is recognised in the period in which the ernployee's services Jre received. Termination benefits are recognised imrnedial&ly as an expensé when the charily is demonstrably ¢ommilled lo terminate the employment of an employee or lo provide lerminalion benefits. 1.11 Rotirement ben8fits Payrnenls to defined contribution retirement bénelil schernes are charged as an expense as they fall due, Critical accounting ostlmates and judgèments In the application of the charity's accounting policies, the trustees are required to make iudgemenls, estirnatès and assumpliolls about Ihe carrying amount of assets and liabilities that ale not readity appaienl from other sources. The estimates and assoeialed assumptions are based on historical experience and other laclors that are Considered lo bè relevant, Actual results may differ from these eslimales. The eslimales and underlying assumptions are rpviewed on an ongoing basis. Revisions lo accounting estimates aré recognised in the period in which the estimate is revised where the révision affects only that period, or in the period of the revision and ILlture periods where the revision affects both curienl and future periods. 13
SEThLE STORIES LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 InGOm8 fromdDllatlonts and liiaGI96 Unre51rtCtsd Rfr8tilclod funds fund¥ 2024 2014 fund5 2023 fvnds 2023 2024 23 Dtsnabo and gm8 Grants ro¢evJed 66 97,95fj 7,147 2S1.252 9.296 8,$84 4.194 172,890 13.490 160.4D2 97,997 258,399 1T.BBD 194.964 fqtalvable lorMfP o¢flvlfj• A¢ndd Claik Comrnuntty IYFOS22 Frojecti Afls Co1 Eng14na. N£lion41 Loii•ryProl8Ct Gianl C¢FD82% &YF0821 Ads GOn¢71 EnilanJ. Na1ion4lLollèryC(Mpmunlly Fund IYoLlh pr¢ Prol$¢ti Art$ CQufEGilEnglartd Islorbs for Schootsl Alis CgufiGII Fngland IP4POI Dked I Id IYFOS22 PIOiBCtI I,fy)D 66,514 9.775 9.7FS 3,1W 3.100 150.DOO Iso.0( a.0 1.wo 877 26,825 10,ODD f.000 Erasm5 Prc9famw• GBrtièl¥W8s10i Foundation Nornhyoikshiie CounlyCounGillSe&a nIh9) 26.82$ 10,000 1.000 75.000 75.OQO RDy&lAsirornoml¢al So¢idy Slois lorS¢hools NLPG Unlverstty Dt HuH1Sp£tkfunJi 2e,e99 28,599 18.473 16.473 2,321 2.321 8.584 97.9J1 2SI,252 8.584 172,8YO
SETTLE STORIES LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR EAIDED 31 MARCH 2024 Inromw frorn donallon$ and
SETTLE STORIES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 MARCH 2024 Incomè from charitable activlties Unrestricted Re$trl¢td fund5 funds 2024 2024 Total Unrgstrietod Restrlct•d funds funds 2023 2023 Total 2024 2023 Charitable activities Incorne from charil8ble activities 17,769 1,163 18,932 10.569 14,395 24,964 Expenditure On ¢harltable activities Charitablg activÉtiÈs Charitable activitie 2023 2024 Direct costs Staff cos18 Premises ctssls Office adminislralion costs Computer anL websile Gpsts Motor and travo1 costs Box office. PR and markeling Event costs and artists fees Merchandise costs Staff training Legal and professional costs Other costs 146,295 11,693 114 7,770 7,541 20,944 49,751 1.639 105,529 11.415 I,Q43 9.700 9,897 19.275 33,582 1,573 480 30,026 690 23,263 2,660 271,670 223,210 Share of support and governance costs Is08 note 61 Support 11,936 14,822 283,606 238.032 Analysis by fund UnreslriGled funds Reslrict8d funds 187,128 96,478 27,321 210,711 283,606 238,032
SETTLE STORIES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support costs allocated to activities 2024 2023 Slaff costs Bank and credll card Gharges Loall interest Govermance ¢csls 1,220 755 1.873 10,974 867 2,88r) 8,189 11,936 14,822 Analy5ed betwegn: Charilablg activilies 11.936 14,822 Net movement in funds 2024 2023 The nel movement in funds is stated after chargingllcredilingl.. Fees payable lor thè independent examination of the charily's financial statements Deprecialion ol owned tangible fixed assets 3,000 5.048 2,195 8,779 Tru$tès None of the Iru51ees IL¥r any persons connected with Iheml received any remuneration Dr benefits from Ihe charity during the year. Employe¢s The average monthly number of efflployees during thè year wa5.. 2024 Number 2023 Number Diiecl charitable Employment costs 2024 2023 Waoes and salaries Social secufily costs Other pertsion costs 136,504 5,412 4.379 99,104 4,080 3.565 146,295 106.749 Therè were no employees wh05è annual remuneration was more than £60,000. 17
SETTLE STORIES LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Employees (Continued) Ramuneration of key management pèrsonnèl The remuneration of key management personnel wa5 as follows.. 2024 2023 Aggregate compensation 84.777 85,053 10 Taxation The charity Is èxèmpt from laxalion on ils activities bacause all ils income is applied for Charhable purposes. 11 Tangible flxod assets Prolecl Fixfures and 94uipmèTht flttin95 ¢ompuler equlpmfjrst Total Cost Al 1 April 2023 Additions 1,863 46,399 6,070 6,567 54,829 e,Q70 Al 31 March 2024 1,863 52.469 6.567 60,899 Depreclalion and Impairment At 1 April 2023 Deprecialion charged in the year 1,535 67 32.989 4,782 5,755 199 40,259 5,048 At 31 March 2024 1.602 37,751 5,954 45,307 Carrying amount Al 31 March 2024 261 14.718 613 15,592 At 31 March 2023 328 13,440 812 14,580 12 Debtor$ 2024 2023 Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrLted incom* 763 496 40,757 4,188 4,461 5,224 45,441 18-
SETTLE STORIES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Loans and ov¢rdraft8 2024 2023 Bank overdrafts Olhei loans 135 29,308 21,607 21,607 29,443 Payable wrthin one year Payable aftef one yèar 8,084 13,523 8.219 21,224 14 Creditors: amounts falling dlie within one year 2024 2023 Not•s Bank overdrafts Other boirowings Other taxation and social security Tradp credilDrs Accruals and deferred income 13 135 8,084 5.246 1,731 2,995 8,084 3,566 1,840 13,201 26,691 18,191 15 Crdltors: amounts falling du• after moro than one year 2024 2023 Borrowings 13,523 21,224 16 Retirgment beneflt schemes 2024 2023 Dofined contrlbution 8chmgs Gharge to profil or loss in respect of defined c0ntribuliDn schemes 4.379 3,565 The chaiity operates a defined contribution pension scheme for all qualifying employees. The assets of the seheme are held separately from those of the chaiily in an independently adminislereil fund. 19
SETTLE STORIES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Restricted funds The rostricted lund5 01 the charity comprise IhÈ unèxpended balances of donations and 9ranls held on trust subject to sp80ifio condition8 by donors as lo how they may be used. At 1 April 2023 Incoming resourc9$ Resources 8xpgnded Transfers At 31 March 2024 Eddie Percy Foyle Foundation Sloiies for Schoo15 Sloryful YFOS 2,106 8.770 15,445 2,106 6,490 4,592 32,151 12,2801 143,5441 142.8491 17.8051 22,742 75.000 1.418 9,949 2,293 4.094 28,614 99,160 196,4781 14,043 45,339 Previous yèar.. At l Aprll 2022 Incoming rèsources Resource$ ÈXP8nded Transfer8 At 31 March 2023 Restrictèd funds 28,143 191,479 1210.7111 19,703 28,614 The Arnold Clsrk Community Fund, The National Lottery Project Grant from the Arls Council and Thè Royal Astronomical Socièty Grant contributed to and supported the Yorkshire Fèstival ol Story. The National Lottery Project Grants from tha Arts Council along wilh the Not1h Yorkshire Ctsunly Council. G¢1 Going Grant, support8d thè Stories lor Schoo15 programrne. Ttte Digital Litt Grant enables the purchase of software for the Sloryversily Project. The National Lottery Community Fund enabled the runnlng ol Youth Pridé anirnalion workshops Ic support yciung people. Transfers in the year represent unrestricted funds used lo cover over-spends on r¢slricted projects, 18 Unrgstfleted fund Th8 unreslricled funds of the charity comprise the unexpended balances of donations and grants which are not subjeol lo specific conditions by donors and grantors as lo how they may be usèd. These include designated funds which havè been sel aside DUI ol unrestricted funds by the Iru5tees lor specific purposes. At 1 Aprll 2023 Incomlng resour¢ès Resourcès expended Transfers At 31 March 2024 General funds Designated funds 22,806 55,952 178,171 1187,1281 18911 113.1521 12,958 42,800 78,758 178,171 1187,1281 114,0431 55,758 -2CI-
SETTLE STORIES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 18 Unre5trict¢d funds IContinu8dl Prevlous year: At 1 Aprll 2021 In¢omlng resources Rèsource5 èxpanded Transfers At 31 Mah 2023 Designated funds General funds 55,952 41,381 55,952 22,8C 28,449 127,3211 119,7031 97,333 28,449 127,3211 119,7031 78.758 19 Analysi¥ of nèt assets bekneen funds Unrg¥trlcted funds 2024 Rèstricted fufids 2024 Totsl 2024 At 31 March 2024.. Tangible assets 15,592 53,573 113,5231 15,592 99,028 113,5231 45.455 Long tèrm liabilities 55,642 45,455 101,097 Per balance shegl Balance to alloGafe 55,758 116 45,339 101,097 Unr•stricted funds 2023 Restrlctgd fund5 2023 Total 2023 At 31 Mar¢h 2023: Tangible assets Curient asselsllliabilitl8sI Long term liabilities 14,580 85,402 121,2241 14,580 114,018 121,2241 28.614 78,758 28,614 107.372 20 Relatod party transactions There were no disdosable felalod party Iran5adion5 durin9 the year12023- none). 21