**Company No:  07578987 Registered Charity No. 1143459** 

## **CREATIVE FUTURES (UK) LIMITED A COMPANY LIMITED BY GUARANTEE** 

**ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** 

_**Transformational experiences through the arts**_ 



- CREATIVE FUTURES (UK) LIMITED (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT & ACCOUNTS, 2024 

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 

|INDEX<br>Company information<br>Report of the directors<br>Independent examiner’s report<br>Statement of financial activities<br>Balance sheet<br>Accounting policies<br>Notes to the financial statements|Page<br>1<br>2 - 9<br>10<br>11<br>12<br>13<br>14-18|
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- CREATIVE FUTURES (UK) LIMITED (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT & ACCOUNTS, 2024 

COMPANY NUMBER : 07578987 CHARITY NUMBER : 1143459 DIRECTORS/TRUSTEES : Marcia Bennie Matthew Brookes – Finance Director Paul Hayday Marcus James – Chair Karen Price – Resigned 09/10/2023 Baden Prince – Appointed 04/12/2023 REGISTERED OFFICE : Office 9a, The Beethoven Centre Third Avenue London W10 4JL CHARITY ADDRESS : Office 9a, The Beethoven Centre Third Avenue London W10 4JL 

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## - CREATIVE FUTURES (UK) LIMITED (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT & ACCOUNTS, 2024 

The directors present their report and the financial statements for the year ended 31 March 2024. 

## **MISSION STATEMENT** 

Creative Futures offers transformative experiences through the arts to children, young people and families, especially those from disadvantaged backgrounds. 

## **OBJECTIVES OF THE CHARITY** 

- i. To advance the education and training of children and young people, in particular but not exclusively those with special educational needs, and their teachers through imaginative and progressive arts-based projects which stimulate learning and development; 

- ii. To promote and protect good health by delivering arts projects for those who are socially and economically disadvantaged, in particular but not exclusively older people, the homeless or those living with long term mental or physical health issues, in order to raise self-esteem, improve quality of life and engage them with wider society; 

- iii. To advance the arts generally, in particular but not exclusively to advance musical education for people of all ages; and 

- iv. To conduct or commission research to better understand specific needs in the field of education and to publish the useful results. 

## **LEGAL STATUS & TAX STATUS** 

The charitable company is a private Company Limited by Guarantee governed by its Memorandum and Articles of Association. As a Registered Charity in the UK it is exempt from UK Corporation Tax as all income is applied for charitable purposes. 

## **ORGANISATIONAL STRUCTURE** 

The Trustees act as Directors for the purposes of company law and as Trustees for the purposes of charity law. New Trustees are appointed by the Directors. 

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## - CREATIVE FUTURES (UK) LIMITED (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT & ACCOUNTS, 2024 

## **MANAGEMENT STRUCTURE** 

The company was managed during the year by 4 employees: 

- Creative Director Dr Julian Knight oversees the organisation’s strategy , partnerships, fundraising and finances. 

- Creative Producer Vanessa Stansall produces the large-scale early years programmes. 

- Creative Producer Lori Gargani manages a number of programmes. Lori began Maternity Leave at the end of January 2024. 

- Sabrina Scolaro occupies the role of Creative Programmes Manager and supports across the organisation as well as managing specific programmes. 

Tasks undertaken by the management team include devising and planning new projects, fundraising, building partnerships with other charitable and educational organisations, managing and overseeing the delivery and monitoring of all projects including assessing their impact, budgeting and financial management, and organisational development. Trustees are updated regularly. 

Creative Futures ’ programmes are delivered by experienced , DBS-checked artisteducators who are engaged on a freelance project-by-project basis. 

## **RESERVES POLICY** 

The Board of Trustees aims to build and maintain an unrestricted reserve equivalent to 6 months of core costs, to ensure that the charitable aims and administrative costs of the charity can be met on an ongoing basis. This target level of reserves continues to be met. 

## **PUBLIC BENEFIT STATEMENT** 

The charity trustees have complied with their duty to have due regard to the guidance published by the Charity Commission including that on public benefit in exercising their powers or duties. 

## **RISKS POLICY** 

The Board of Trustees has a Risks Register which acknowledges potential risks and outlines the Company's action to limit any contingent liabilities in order to minimize these risks. 

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## - CREATIVE FUTURES (UK) LIMITED (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT & ACCOUNTS, 2024 

## **REVIEW OF ACTVITIES AND ACHIEVEMENTS, 2023-24** 

2023-24 saw a small increase in turnover of 7% on 2022-23, reflecting the consolidation of many key programmes and the early stages of some new initiatives. Across its portfolio, Creative Futures has continued to deliver high quality projects impacting more than 2,500 children, families and young people. 

Our three focus areas remain (i) early years and families, (ii) care experienced children and young people, and (iii) children with special educational needs. The majority of programmes, funding and participants are in the early years bracket (children aged 0-5), and Creative Futures continues to be considered a leader in early years arts provision. 

## **Activity during 2023-24** 

## **EARLY YEARS PROJECTS** 

Creative Futures is an established sector leader in early years music and arts delivery. Our carefully structured programmes, often with a research element, provide inspiring and developmentally beneficial music, movement, story-telling, and art activities to children in some of the most deprived parts of London and beyond. 

## **Community Families** 

Running since: 2013 Location: north Westminster Reach: 500+ families per year 


‘Community Families’ is Creative Futures’ flagship families programme, reaching 500 families with children aged 0-4 every year in northwest Westminster. The programme is in its 10[th] year, and now delivers 8 free and accessible music sessions each week in termtime. 2 sessions are specifically for mothers and babies under 12 months old, 4 sessions are open to families with children aged 0-4 years, and 2 sessions are for more vulnerable families referred by partner services and Family Centres. These Nurture Groups have been highly successful in supporting mothers, building their confidence to then join one of our other music drop-in sessions. Our sessions provide fun, creative and stimulating activities for parents and children, information and support from local trained ‘Maternity Champions’ (from Paddington Development Trust), and are proven to reduce isolation, improve mental wellbeing, and strengthen many aspects of early childhood development. During 2023/24, Community Families was funded by the **City of Westminster’s Community Priorities Programme , Westminster ward budgets for Queen’s Park, Westbourne and Harrow Road,** the **Young Westminster Foundation,** the **City of Westminster Charitable Trust, Westminster Amalgamated Charities,** the **Westminster Foundation, Edward Harvist Trust** and a donation from the **London HQ fund.** In addition we were delighted to be supported by the Media Trust, funded by John Lyon’s Charity, to have a short film made about the project and its impact. This powerful short film - can be viewed on our project webpage here: https://www.creativefuturesuk.com/building strong-community-families 


**Music at Heart** Running since: 2022 Location: north Westminster Reach: 30 mothers & babies each year 

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## - CREATIVE FUTURES (UK) LIMITED (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT & ACCOUNTS, 2024 

‘Music at Heart’ is our music in hospitals programme, and currently focusses on a partnership with the perinatal mental health team at St. Mary’s Hospital in north Westminster. Music at Heart consists of weekly therapeutic singing sessions delivered by two specialist musicians to support mothers (and their babies) with acute mental health conditions and post-natal depression. As the project is delivered in the same neighbourhood as Community Families, we have created an innovative ‘Musical Care Pathway’ to support mothers with mental health conditions through the specialist support given at Music at Heart, to our Nurture Groups, and on the open-access drop-in sessions. Music at Heart is funded by **Central and North West London NHS, Garfield Weston Foundation, D’Oyly Carte Charitable Trust,** and **Imperial Health Charity.** Funding has also been received from **two generous individual donors** to continue this valuable work through to 2025. A further extension of the project is due to start in 2024/25 at Queen Charlotte’s & Chelsea Hospital also with funds from Imperial Health Charity. 

**London Rhymes** Running since: 2017 Location: Hackney & Newham Reach: 120 mothers & babies each year 


‘London Rhymes’ is a singing and songwriting project initiated by musician Rosie Adediran. This phase of the project is delivered in partnership with her organisation London Rhymes Limited. From the autumn of 2023, with funds secured by London Rhymes Limited from Youth Music, we collaborated on the delivery of weekly sessions with the East London Foundation NHS Trust ’s perinatal outpatient unit for mothers and babies at Homerton Hospital. In addition, the project continued weekly sessions with The Magpie Project, a charity in Newham supporting homeless mothers and their children. London Rhymes is delivered by pairs of musicians who lead singing and song-writing 

activities with families with children aged 0-2 years, creating new songs together about the joys and challenges of parenting.  A constant stream of new songs is created through the projects, recorded by the London Rhymes team of musicians, and released on Soundcloud and Spotify. Many have also been animated and appear on YouTube – some – with over 200,000 views extending the reach of these beautifully crafted and visually enticing songs to families who have not been a part of the projects. 

**Sound Communities** Running since: 2018 

Location: Brent Reach: 15 EYPs & 300 children each year 


‘Sound Communities’ is an early years workforce development programme which seeks to embed more music and creativity into Early Years teaching practice through a combination of professional development sessions and in-setting mentoring and co-delivery. An underlying aim of the project is to support children’s speech, language and communication skills through teacher-led music activities. During 2023-4, as part of the second phase of this project, it concluded its first year and started its second year of delivery in the London borough of Brent, working with 10 settings each year. This phase is funded by **National Foundation for Youth Music** and **John Lyon’s Charity** with additional funds from the **Ingles Charitable Trust** . A comprehensive online toolkit for the project, created in collaboration with The Communications Trust (part of ICAN), was launched in January 2020 as part of the first phase of the project from 2018-22, and continues to support 

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## - CREATIVE FUTURES (UK) LIMITED (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT & ACCOUNTS, 2024 

teachers involved in this programme as well as being freely accessible to teachers and Earyl Years Professionals everywhere. 

**Arts Exchange** Running since: 2023 Location: Harrow Reach: 240 children per year 

‘ Arts Exchange ’ (a strand of our ‘Music for Change’ initiative) is a new multi-arts early years project in Harrow supported by **John Lyon’s Charity** . In each of the two years of the project, 4 schools take part and receive weekly workshops for 13 weeks delivered by a musician and another artist such as a dancer or visual artist. In Year1 we have worked with two dancers alongside our two musicians, enjoying the opportunity to collaborate in a multi-arts format and to explore and develop new practice with the children. Arts Exchange has been delivered to 2 nursery classes in each of the 4 schools (in its first year) reaching around 240 children aged 3-4 years. We have also supported teachers to develop their confidence and practice around music in order to embed more music, dance and movement into their everyday teaching practice. 

**London Early Year Music Network** Running since: 2021 Location: London 

Sound Connections ‘London Early Years Music Network’: our Creative Producer and early years music specialist, Vanessa Stansall, continues to provide guest curatorship of this network supporting existing and emerging music leaders who work in Early Years. 

**Other Centres** : We deliver weekly music and movement sessions at Ann Tayler Children’s Centre in **Hackney** , especially focussed on engaging ‘hard to reach’ families and supporting early parent-child bonding; and at two **Rosemary Works** nurseries in East London. 

## **CARE EXPERIENCED CHILDREN AND YOUNG PEOPLE** 

Creative Futures ’ work with care experienced young people is in a developmental phase, with new partnerships developing in the boroughs of Harow, Brent, Ealing and Barnet. This will be reported on in the next Report. 

## **PROJECTS WITH CHILDREN WITH SPECIAL EDUCATIONAL NEEDS** 

Creative Futures is pleased to have continued to work with deaf and hearing impaired children during the year. 


**Sounding Out** Running since: 2014 Location: Islington, Tower Hamlets, Newham Reach: 100 children per year 

‘Sounding Out’ , our flagship music programme for deaf children, has grown to three primary schools with specialist deaf units: Selwyn Primary School (Newham), Laycock Primary School (Islington), and Hague Primary School (Tower Hamlets), thanks to 3-year funding from the **City Bridge Foundation** . Weekly music sessions with small groups of pupils aged 4-9 years focus on singing, vocalisation, playing instruments, improvisation and composition. A free online Toolkit on our website, developed in an earlier phase of the project, supports teachers of the deaf. The project is delivered by pairs of specialist musicians, and supported by a researcher from UCL.  lead musicians were joined by two 

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## - CREATIVE FUTURES (UK) LIMITED (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT & ACCOUNTS, 2024 

trainee music leaders who have now become embedded in the project team as delivery assistants. Other funders of this programme are the **Ironmongers’ Charity ,** the **Ingles Charitable Trust,** and the **Makers of Playing Cards Charity.** 

## **PRIMARY PROGRAMMES** 

- Creative Futures has continued as a Delivery Partner with third sector organisation **West London Zone** (now AllChild), delivering a range of spoken work, music and art projects with primary aged children. 

- We delivered ‘ Creative Clubs ’ during school holidays at the Beethoven Centre in Queen’s Park (where our office is located) in partnership with A2Dominion (who own the building), with funding from **John Lyon’s Charity** and **Queen’s Park Community Council** . These projects were attended by local children aged 5-8 years and included music and art activities using recycled objects to create installations. 

- ‘ Hopes & Futures ’ was a new project for pupils leaving Year 6, delivered in a primary school in Harrow in the summer 2023 with funding from the **Young Harrow Foundation** . This 10-week transition project explored the themes of navigating – 

- growth and change, diversity, culture and self-expression and celebrated pupils’ achievements in primary school as well as looking forward to secondary school. 

- In 2023 we started a new collaboration with **Family Lives** to support Young Carers in Westminster. We have delivered a number of art, music and dance sessions with young carers to date, and hope to expand this collaboration in the future. 

## **SECONDARY PROGRAMMES** 

- No secondary programmes were delivered this year. 

## **CORE FUNDING** 

We are particularly grateful to **Ingles & Hayday** which has supported us over the years with a venue for our Trustees’ meetings, and this year with an unrestricted corporate donation. We are grateful to all those organisations and individuals that have supported our work, on whatever scale: without these contributions we would not be able to deliver our inspiring projects to the children, young people and families who value them. 

## **RESEARCH & PARTNERSHIPS** 

We continue to enjoy a strategic partnership with the **UCL Institute of Education** , especially with Professor Graham Welch with whom we have launched a **Music and Cognition Research Group** to underpin our various collaborations. We are also privileged to be collaborating with researchers at a number of universities in the USA, notably **James Madison University** in Virginia where our director, Julian Knight, spent a semester in 2024 as a Fulbright ‘scholar -in- residence’ . A number of ongoing collaborative projects are in the pipeline and will be revealed in future reports. 

Our partnership with a range of voluntary and community sector organisations in our home locality of north Westminster (including **One Westminster, Paddington Development Trust , St Mary’s Hospital, Queen’s Park Family Centre, the Portman Early Years Centre, Westbourne Park Family Centre** to name a few) has enabled us to reach and support hundreds of vulnerable families in the area. 

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- CREATIVE FUTURES (UK) LIMITED (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT & ACCOUNTS, 2024 

Creative Futures continues to be a Delivery Partner of the **Triborough Music Hub** , and to collaborate with numerous other Music Education Hubs in London and the southeast. 

## **STRATEGIC OBJECTIVES** 

Our values and strategic objectives for 2020-24 remain unchanged. 

## **VALUES** 

- _**C** hild-led_ – putting the child or young person at the centre of our work, from devising and planning through delivery to evaluation. 

- _**H** igh quality_ – our programmes are shaped and led by experienced, reflective artists and producers drawing on research and our own learning. 

- _**I** nspiring_ – we aim for every project we deliver to be outstanding, meaningful and memorable for all the children, young people, families and professionals involved. 

- _**L** ocally-driven_ – ensuring that every project is driven by the specific needs and strengths of its local community; and finding new ways of embedding the arts at the heart of every child’s experience. 

- _**D** emocratic_ – aspiring to be a culturally democratic organisation where our community of artists and participants shape our work together and are all treated ethically, fairly, equally and respectfully. 

## **OBJECTIVES** 

- Grow Creative Futures’ brand, reputation and influence in the sector to become a market leader. 

- Grow the reach and scale of our programmes. 

- Create an effective and happy working community. 

- Create a strong partner community that is engaged with our programmes. 

- Deliver excellent programmes that make a positive difference to the lives of children, young people and families. 

- Be a sustainable charity. 

## **FUTURE PLANS AND DEVELOPMENT** 

A number of new programmes are in the pipeline for 2025 and beyond which will continue to embed our values, support our core areas of work, build on existing and new partnerships, and enrich the lives of children, young people and families across London. We will continue to invest in our family of artists, reflecting and learning together from the work we deliver in order to improve the quality and reach of our programmes, as well as continuing to collaborate with leading researchers in the field. 

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- CREATIVE FUTURES (UK) LIMITED (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT & ACCOUNTS, 2024 

## **STATEMENT OF TRUSTEES' (DIRECTORS') RESPONSIBILITIES** 

Company law requires the directors, who serve as trustees for the purposes of charity law, to prepare Financial Statements for each financial year, which give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparing those Financial Statements, the directors are required to:- 

- select suitable accounting policies and then apply them consistently; 

- make judgements and estimates that are reasonable and prudent; 

- state whether the Financial Reporting Standard for Smaller Entities has been followed, subject to any material departures disclosed and explained in the financial statements; 

- prepare the Accounts on a going concern basis unless it is inappropriate to presume that the company will continue in business. 

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

The Directors’ Report is prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. 

By Order of the Board 

Marcus James **Chair,** 18.07.2024 

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## - CREATIVE FUTURES (UK) LIMITED (A COMPANY LIMITED BY GUARANTEE) 

## ANNUAL REPORT & ACCOUNTS, 2024 

## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF CREATIVE FUTURES (UK) LIMITED** 

I report on the accounts of the company for the year ended 31 March 2024, which are set out on pages 11 to 18. 

## **Respective responsibilities of trustees and examiner** 

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts.  The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.  Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to: 

- examine the accounts under section 145 of the 2011 Act; 

- to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and 

- to state whether particular matters have come to my attention. 

## **Basis of independent examiner’s report** 

My examination was carried out in accordance with the general Directions given by the Charity Commission.  An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records.  It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters.  The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below. 

## **Independent examiner’s statement** 

In connection with my examination, no matter has come to my attention: 

- (1) which gives me reasonable cause to believe that in any material respect the requirements: 

   - to keep accounting records in accordance with section 386 of the Companies Act 2006; and 

   - to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or 

- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. 

**Anthony Epton BA, FCA, CTA, FCIE Goldwins** 

**Chartered Accountants, 75 Maygrove Road, West Hampstead, London NW6 2EG** 

> **Date:** 22 August 2024 

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## **Creative Futures (UK) Limited Statement of financial activities** 

## (incorporating an income and expenditure account) 

## **For the year ended 31 March 2024** 

|**Note**<br>**Income from:**<br>Donations<br>**3**<br>Charitable activities:<br>**4**<br>Grants<br>Schools and local authorities<br>Other income<br>Investment income<br>**5**<br>**Total income**<br>**Expenditure on:**<br>Charitable activities<br>**6**<br>**Total expenditure**<br>Net gains / (losses) on investments<br>**7**<br>Transfers between funds<br>**Net movement in funds**<br>**Reconciliation of funds:**<br>Total funds brought forward<br>**Total funds carried forward**<br>**Net income / (expenditure) for the year**<br>**Net income / (expenditure) before net gains /**<br>**(losses) on investments**|**Unrestricted**<br>**funds**<br>**£**<br>**2,625**<br>**1,000**<br>**51,047**<br>**-**<br>**3,507**<br>**58,179**<br>**57,818**<br>**57,818**<br>**-**<br>**361**<br>**185**<br>**546**<br>**88,351**<br>**88,897**<br>**361**|**Restricted**<br>**funds**<br>**£**<br>**25,000**<br>**255,629**<br>**57,055**<br>**-**<br>**-**<br>**337,684**<br>**312,549**<br>**312,549**<br>**-**<br>**25,135**<br>**(185)**<br>**24,950**<br>**145,886**<br>**170,836**<br>**25,135**|**2024**<br>2023<br>**Total**<br>**funds**<br>Total<br>funds<br>**£**<br>£<br>**27,625**<br>23,110<br>**256,629**<br>222,364<br>**108,102**<br>120,691<br>**-**<br>41<br>**3,507**<br>1,707<br>**395,863**<br>367,913<br>**370,367**<br>412,621<br>**370,367**<br>412,621<br>**-**<br>**-**<br>**25,496**<br>(44,708)<br>**-**<br>**-**<br>**25,496**<br>(44,708)<br>**234,237**<br>278,945<br>**259,733**<br>234,237<br>(44,708)<br>**25,496**|
|---|---|---|---|



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. 

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## **Creative Futures (UK) Limited Balance sheet As at 31 March 2024** 

|**Note**<br>**Fixed assets:**<br>**10**<br>**Current assets:**<br>**11**<br>**Liabilities:**<br>**12**<br>**13**<br>Total unrestricted funds<br>**Total net assets**<br>Tangible assets<br>Debtors<br>Cash at bank and in hand<br>Creditors: amounts falling due within one year<br>**Net current assets**<br>**Funds**<br>General funds<br>**Total funds**<br>Unrestricted funds:<br>Restricted funds|**2024**<br>**£**<br>**7,156**<br>**253,788**|**2024**<br>2023<br>**£**<br>£<br>**889**<br>-<br>235,036<br>235,036<br>1,910<br>**258,844**<br>**259,733**<br>**170,836**<br>88,351<br>**88,897**<br>**259,733**|2023<br>£<br>1,111<br>233,126|
|---|---|---|---|
||**260,944**<br>**2,100**|||
||**88,897**|||
||||234,237|
||||145,886<br>88,351|
|||||
||||234,237|



The Charity’s financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The Trustees consider that the Charity is entitled to exemption from the requirement to have an audit under the provision of section 477 of the Companies Act 2006("the Act") and members have not required the Charity to obtain an audit for the year in question in accordance with section 476 of the act. The Trustee acknowledge their responsibilities for complying with the requirement of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. 

> Approved by the trustees on 18 July 2024. 

and signed on their behalf by: 

**Matthew Brookes Treasurer** 

## **Company registration no. 07578987** 

The attached notes form part of the financial statements. 

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## **Creative Futures (UK) Limited** 

## **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. 

## **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. 

## **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 grants or 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) Interest receivable** 

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. 

- **e) 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 work or for specific projects being undertaken by the charity. 

**f) 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. 

## **g) 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’s activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. 

## **h) 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: 

Equipment 

20% Reducing Balance 

## **i) 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. 

## **j) 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. 

## **k) Creditors and provisions** 

Creditors and provisions 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 and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 

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## **Creative Futures (UK) Limited** 

## **Notes to the financial statements** 

## **For the year ended 31 March 2024** 

## **2 Detailed comparatives for the statement of financial activities** 

|**Income from:**<br>Donations<br>Charitable activities:<br>Grants<br>Schools and local authorities<br>Other income<br>Investments<br>**Total income**<br>**Expenditure on:**<br>Charitable activities<br>**Total expenditure**<br>Transfers between funds<br>**Net income / (expenditure)**<br>Total funds brought forward<br>**Total funds carried forward**<br>**3**<br>**Income from donations and legacies**<br>Donations<br>**4**<br>**Income from charitable activities**<br>Grants<br>Schools and local authorities<br>**Total income from charitable activities**<br>**5**<br>**Income from investments**<br>Bank interest<br>**Net income / expenditure before gains /**<br>**(losses) on investments**|**Unrestricted**<br>**funds**<br>**£**<br>**2,625**<br>**2,625**<br>**Unrestricted**<br>**funds**<br>**£**<br>**1,000**<br>**51,047**<br>**52,047**<br>**Unrestricted**<br>**funds**<br>**£**<br>**3,507**<br>**3,507**|2023<br>Unrestricted<br>funds<br>£<br>-<br>21,000<br>53,957<br>41<br>1,707<br>76,705<br>65,572<br>65,572<br>11,133<br>685<br>11,818<br>76,533<br>88,351<br>**Restricted**<br>**funds**<br>**£**<br>**25,000**<br>**25,000**<br>**Restricted**<br>**funds**<br>**£**<br>**255,629**<br>**57,055**<br>**312,684**<br>**Restricted**<br>**funds**<br>**£**<br>**-**<br>**-**|2023<br>Restricted<br>funds<br>£<br>23,110<br>201,364<br>66,734<br>-<br>-<br>291,208<br>347,049<br>347,049<br>(55,841)<br>(685)<br>(56,526)<br>202,412<br>145,886<br>**2024**<br>**Total**<br>**funds**<br>**£**<br>**27,625**<br>**27,625**<br>**2024**<br>**Total**<br>**funds**<br>**£**<br>**256,629**<br>**108,102**<br>**364,731**<br>**2024**<br>**Total**<br>**funds**<br>**£**<br>**3,507**<br>**3,507**|2023<br>Total<br>funds<br>£<br>23,110<br>222,364<br>120,691<br>41<br>1,707|
|---|---|---|---|---|
|||||367,913|
|||||412,621|
|||||412,621|
|||||(44,708)<br>**-**|
|||||(44,708)<br>278,945|
|||||234,237|
|||||2023<br>Total<br>funds<br>£<br>23,110|
|||||23,110|
|||||2023<br>Total<br>funds<br>£<br>222,364<br>120,691|
|||||343,055|
|||||2023<br>Total<br>funds<br>£<br>1,707|
|||||1,707|



14 



## **Creative Futures (UK) Limited** 

## **Notes to the financial statements For the year ended 31 March 2024** 

**6 (a) Analysis of expenditure** 

|Musicians and Practitioners to deliver workshops<br>Other project costs<br>Research fees<br>Staff training<br>Rent and rates<br>Insurance<br>Telephone and internet<br>Printing, postage and stationery<br>Independent examination fees<br>Computer costs<br>Professional fees<br>Sundry<br>Depreciation<br>Support costs<br>**Total expenditure 2024**<br>Total expenditure 2023|**Charitable**<br>**activities**<br>**£**||**Support**<br>**costs**<br>**£**||**2024**<br>**Total**<br>**£**||2023|
|---|---|---|---|---|---|---|---|
||||||||Total|
||||||||£|
||**122,876**<br>**40,941**<br>**174,691**<br>**7,968**<br>**1,000**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**||**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**406**<br>**7,338**<br>**1,243**<br>**2,013**<br>**299**<br>**2,140**<br>**2,497**<br>**6,733**<br>**-**<br>**222**<br>**22,891**<br>**(22,891)**<br>**-**<br>-|**122,876**<br>**40,941**<br>**174,691**<br>**7,968**<br>**1,000**<br>**406**<br>**7,338**<br>**1,243**<br>**2,013**<br>**299**<br>**2,140**<br>**2,497**<br>**6,733**<br>**-**<br>**222**<br>**370,367**<br>**-**<br>**370,367**<br>412,621||136,104<br>27,750<br>183,964<br>27,238<br>17,923<br>872<br>7,314<br>1,189<br>2,020<br>232<br>1,950<br>1,541<br>3,237<br>1,009<br>278||
||**347,476**<br>**22,891**|||||412,621||
||**370,367**|||||||
|||||||||
||412,621|||||||



Of the total expenditure, £57,818 was unrestricted (2023: £65,572) and £312,549 was restricted (2023: £347,049). 

�� � Analysis of expenditure- prior year 

|Musicians and Practitioners to deliver workshops<br>Other project costs<br>Research fees<br>Staff training<br>Rent and rates<br>Insurance<br>Telephone and internet<br>Printing, postage and stationery<br>Travelling<br>Independent examination fees<br>Computer costs<br>Professional fees<br>Sundry<br>Depreciation<br>Support costs<br>Total expenditure 2023|Charitable<br>£||Support<br>£||2023<br>£||2022|
|---|---|---|---|---|---|---|---|
||||||||£|
||136,104<br>27,750<br>183,964<br>27,238<br>17,923<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-|||136,104<br>27,750<br>183,964<br>27,238<br>17,923<br>872<br>7,314<br>1,189<br>2,020<br>232<br>-<br>1,950<br>1,541<br>3,237<br>1,009<br>278<br>412,621<br>-<br>412,621||156,204<br>-<br>163,073<br>27,753<br>8,955<br>263<br>7,036<br>1,926<br>2,049<br>150<br>-<br>1,790<br>3,238<br>1,539<br>-<br>347||
||392,979<br>19,642|||||374,323||
||412,621|||||||



15 



## **Creative Futures (UK) Limited Notes to the financial statements** 

**For the year ended 31 March 2024** 

|**7**<br>**Net income / (expenditure) for the year**<br>This is stated after charging / (crediting):<br>Depreciation<br>Independent examiner’s fees- Net of VAT|**2024**<br>**£**<br>**222**<br>**1,750**|2023<br>£<br>278<br>1,625|
|---|---|---|



## **8 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel** 

|Staff costs were as follows:<br>Salaries and wages<br>Social security costs|**2024**<br>**£**<br>**152,248**<br>**9,106**<br>**2,463**|2023<br>£<br>152,650<br>9,465<br>1,739|
|---|---|---|
||**163,817**|163,854|



The total employee benefits including Employer’s NIC and pension contributions of the key management personnel were £37,466 (2023: £50,217). 

No employee earned more than £60,000 in the year. 

No charity trustees were paid or received any other benefits from employment with the charity in the year (2023: £nil), neither were they reimbursed expenses during the year (2023: £nil). 

## **Staff numbers** 

The average number of employees (head count based on number of staff employed) during the year was as follows: 

|Charitable activities<br>Governance|**2024**<br>**No.**<br>**5**<br>**1**|2023<br>No.<br>5<br>1|
|---|---|---|
||**6**|6|



- **9 Taxation** 

The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. 

## **10 Tangible fixed assets** 

|**Cost**<br>At the start of the year<br>Additions in year<br>Disposals in year<br>At the end of the year<br>**Depreciation**<br>At the start of the year<br>Charge for the year<br>Eliminated on disposal<br>At the end of the year<br>**Net book value**<br>**At the end of the year**<br>At the start of the year|£<br>5,677<br>-<br>-<br>Equipment|**Total**<br>**£**<br>**5,677**<br>**-**<br>**-**|
|---|---|---|
||5,677|**5,677**|
||4,566<br>222<br>-|**4,566**<br>**222**<br>**-**|
||4,788|**4,788**|
||**889**|**889**|
||1,111|1,111|



16 



## **Creative Futures (UK) Limited Notes to the financial statements** 

## **For the year ended 31 March 2024** 

|**11**<br>**Debtors**<br>Other debtors<br>**12**<br>**Creditors: amounts falling due within one year**<br>Accruals<br>**13**<br>**Analysis of net assets between funds**<br>Tangible fixed assets<br>Net current assets<br>**Net assets at the end of the year**<br>Analysis of net assets between funds- prior year<br>Tangible fixed assets<br>Net current assets<br>Net assets at the end of the year|**Unrestricted**<br>**funds**<br>**£**<br>**889**<br>**88,008**|**Designated**<br>**funds**<br>**£**<br>**-**<br>**-**|**2024**<br>**£**<br>**7,156**|2023<br>£<br>-|
|---|---|---|---|---|
||||**7,156**|-|
||||**2024**<br>**£**<br>**2,100**|2023<br>£<br>1,910|
||||**2,100**|1,910|
||||**Restricted**<br>**funds**<br>**£**<br>**-**<br>**170,836**|**Total**<br>**funds**<br>**£**<br>**889**<br>**258,844**|
||**88,897**|**-**|**170,836**|**259,733**|
||Unrestricted<br>funds<br>£<br>1,111<br>87,240|Designated<br>funds<br>£<br>-<br>-|Restricted<br>funds<br>£<br>-<br>145,886|Total<br>funds<br>£<br>1,111<br>233,126|
||88,351|-|145,886|234,237|



17 



## **Creative Futures (UK) Limited Notes to the financial statements** 

## **For the year ended 31 March 2024** 

|**14 (a) Movements in funds**<br>**Restricted funds:**<br>Creative Clubs<br>YHF-Short Breaks<br>Music for Change (Harrow)<br>Community Families<br>Hopes & Futures<br>My Sound Stories online<br>Young Producers<br>Sounding Out<br>Sound Start with LEYF<br>London Rhymes 2023-24<br>Arts Exchange (MFC Harrow)<br>Sounding Out (2023-)<br>Music at Heart - QCCH<br>Sound Communities II<br>Music at Heart II<br>LENA: Music in the home Research<br>London Rhymes<br>**Total restricted funds**<br>**Unrestricted funds:**<br>General funds<br>**Total unrestricted funds**<br>14(b)<br>Movements in funds-prior year<br>Restricted funds:<br>Building Strong Community Families<br>Creative Clubs<br>Sound Communities plus<br>Music for Change (Harrow)<br>Community Families<br>Our Story<br>My Sound Stories online<br>PEACE - Hounslow CSE<br>Sounding Out<br>My Sound Stories (schools)<br>London Rhymes 2021-<br>Sound Communities<br>Sounding Out (2023-)<br>Sound & Symbol EYFS<br>Sound Communities II<br>Music at Heart II<br>LENA: Music in the home Research<br>Music at HEART at the Royal London Hospital<br>Total restricted funds<br>Unrestricted funds:<br>General funds<br>Total unrestricted funds|**£**<br>**-**<br>**-**<br>**21,521**<br>**29,701**<br>**-**<br>**-**<br>**-**<br>**5,039**<br>**-**<br>**-**<br>**-**<br>**6,200**<br>**-**<br>**51,197**<br>**30,225**<br>**2,003**<br>**-**<br>**At the start of**<br>**the year**|**£**<br>**5,095**<br>**850**<br>**-**<br>**76,925**<br>**6,920**<br>**5,000**<br>**1,900**<br>**-**<br>**-**<br>**20,181**<br>**37,500**<br>**32,860**<br>**11,940**<br>**82,290**<br>**52,263**<br>**-**<br>**3,960**<br>**Incoming**<br>**resources &**<br>**gains**|**£**<br>**5,094**<br>**-**<br>**21,496**<br>**68,919**<br>**6,895**<br>**4,895**<br>**-**<br>**5,039**<br>**156**<br>**18,340**<br>**25,207**<br>**29,971**<br>**-**<br>**92,672**<br>**28,931**<br>**1,003**<br>**3,931**<br>**Outgoing**<br>**resources**<br>**& losses**|**Transfers**<br>**£**<br>**(1)**<br>**-**<br>**(25)**<br>**-**<br>**(25)**<br>**(105)**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**(29)**|**£**<br>**-**<br>**850**<br>**-**<br>**37,707**<br>**-**<br>**-**<br>**1,900**<br>**-**<br>**(156)**<br>**1,841**<br>**12,293**<br>**9,089**<br>**11,940**<br>**40,815**<br>**53,557**<br>**1,000**<br>**-**<br>**At the end**<br>**of the year**|
|---|---|---|---|---|---|
||**145,886**|**337,684**|**312,549**|**(185)**|**170,836**|
||**88,351**|**58,179**|**57,818**|**185**|**88,897**|
||**88,351**|**58,179**|**57,818**|**185**|**88,897**|
||£<br>-<br>-<br>��� ��<br>-<br>6,000<br>16,403<br>18,055<br>4,000<br>16,033<br>-<br>3,032<br>65,011<br>-<br>29,845<br>-<br>8,455<br>2,003<br>20,065<br>At the start of<br>the year|£<br>17,742<br>5,595<br>-<br>29,800<br>48,835<br>-<br>30,149<br>-<br>7,500<br>8,110<br>20,783<br>-<br>6,200<br>2,625<br>81,029<br>32,840<br>-<br>-<br>Incoming<br>resources &<br>gains|£<br>14,235<br>5,538<br>13,465<br>8,279<br>28,641<br>16,438<br>48,209<br>3,830<br>18,494<br>7,990<br>23,664<br>64,956<br>-<br>32,343<br>29,832<br>21,399<br>-<br>9,736<br>Outgoing<br>resources &<br>losses|Transfers<br>£<br>(3,507)<br>(57)<br>�  �<br>-<br>3,507<br>35<br>5<br>(170)<br>(120)<br>(151)<br>(55)<br>-<br>(127)<br>-<br>10,329<br>-<br>(10,329)|£<br>-<br>-<br>-<br>21,521<br>29,701<br>-<br>-<br>-<br>5,039<br>-<br>-<br>-<br>6,200<br>-<br>51,197<br>30,225<br>2,003<br>-<br>At the end<br>of the year|
||202,412|291,208|347,049|(685)|145,886|
||76,533|76,705|65,572|685|88,351|
||76,533|76,705|65,572|685|88,351|



## **15 Legal status of the charity** 

The charity is a company limited by guarantee and has no share capital. Each member is liable to contribute a sum not exceeding £1 in the event of the charity being wound up. 

## **16 Related party transactions** 

Other than what has been disclosed in note 8, there are no related party transactions during the year. 

18