DoGuSign Envelope ID". F02D415D.08C54EBA.ACB5-B6FF34BE1EAC
Registered number: 08117915
Charity number: 1149979
THE AUDIENCE AGENCY
(A Company Limited by Guarantee)
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2021

DoGuSign Envelope ID". F02D415D.08C54EBA.ACB5-B6FF34BE1EAC
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
CONTENTS
Page
Reference and Admlnlstratlve Detalls of the Charlty, Its Trustees and Advlsers
Trustees. Report
Independent Audltorfs Report on the Flnanclal Ststements
Consolidated Statement of Financial Activiti9S
10-13
14
Consolidated Balance Sheet
15
Charity Balance Sheet
Consolidated Statement of Cash Flov
16
17
Notes to the Financial Ststemgnts
18-38

DoGuSign Envelope ID". F02D415D.08C54EBA.ACB5-B6FF34BE1EAC
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 30 MARCH 2021
Trustees
A Adewunmi
L Cromplon-Reid
T Hornsby Iresiqned 26 May 20211
C Lawrence18ppointedl
M Locke, Chair
Dr C Michaels
S Parker, WI￿ Chair
R Paterson
A Rivell Iresiqned 29 September 20211
R Saphfft lappoinlèd 30 September 20211
R Sidhu Iresiqned 31 July 20201
A Singh lappoinled 26 May 20211
Company registered
number
08117915
Charity registered
number
1149979
Registered office
The Whilehouse
Wilderspool Business Park
Greenalls Avenue
Slocklon Heath
Warringlon
WA4 6HL
Independent auditor
Cooper Parry Group Limited
Chartered Accounlanls
Slatulory Auditor
One Central Boulevard
Blythe Valley Business Park
Solihull
Wesl Midlands
B90 8BG
Bankers
CAF Bank Limited
25 Kings Hill Avenue
Kings Hill
Wesl Malling
Kent
ME194JQ
Solicitors
Primas Law
The Whilehouse
Wilderspool Business Park
Greenalls Avenue
Slocklon Heath
WA4 6HL
Page 1

DoGuSign Envelope ID". F02D415D.08C54EBA.ACB5-B6FF34BE1EAC
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDEO 30 MARCH 2021
The Trustees are pleased to present their annual directors, report together with the consolidated financial
statements of the charity and its subsidiary for the year ended 30 March 2021. These are also prepared to meet
the requirements for a directors, report and accounts for Companies Act purposes.
The finanryal statements comply wth the Charities Act 2011, Companies Act 2006, the Memorandum and
Articles of Association and Awounting 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 IFRS102 effective 1 January 20191.
Mission. Purpose & Public Benefit
We believe that taking part in cultural activities and having opportunities to exercise our creativity are important
lo our wellbeing and personal resilien￿. Equitable access to these opportunities is Important In building a fairer
society, stronger communities, equitable regeneration and positive civic change. The experience of the
pandemic has heightened these issues - making human needs more obvious while opening the gap belween
those who do and do not benefit from slate-supported and commercial culture and creative participation.
Cultural and creative service-providers can achieve more and more equitably through confident Insighl-driven
strategy, people-cenlred approaches, innovation, co-operation and ethical use of data.
Our purpose is to foster these approaches with our data, insight and knowledge to help..
reach more people and address equality of access
offer more relevant creative opportunities
build more creative places
Values
People Flrst: We seek lo be user-cenlred, to promote audience-centred approaches, and to put our own people
first. We support organisations to do more with and for people furthest from opportunity.
Open & Accesslble: We seek to be inclusive and respectful of difference in our work with audiences, clients
and staff. We prioritise work lo enable cultural activity lo be more indusive. We are commilled lo open data
principles.
Connected.. Working collaboratively across our network lo increase impact and shared learning.
Trustworthy: We aim lo be transparent and accurate, to act with confidentiality and strive for robust results. Our
commitment to quality is reflected in our charter and processes.
Our Actlvltles & Impacts
We deliver
Consultancy, audien￿ and community research. This helps organisalions, consortia and local agencies lo
understand and respond to their communities. needs in live and digital settings.
"Audience Finder a worfd-first service sharing audien￿ dats from over 700 cultural organisalions and
making the datasets widely available and practically applicable through analytics and a wrap-around
Customer service.
We enable organisalions to engage larger and more diverse audiences and to improve their impact and
resilience. The ultimate objective to widen PLJblic access and increase the nation's participation in the arts and
other cultural activities.
Page 2

DoGuSign Envelope ID". F02D415D.08C54EBA.ACB5-B6FF34BE1EAC
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDEO 30 MARCH 2021
Our activities help organisations and policymakers tackle a wide variety of barriers to the arts and culture such
as the lack of relevance, afft)rdability, user-voice and other factors linked to social Inequality. We also support
organisations lo develop their engagement skills and capacity lo connect more effectively
including digital
leadership, data Informed decision-making, the lalesl consumer research, action research and user-￿￿tred
design.
Public Benefit
The Audience Agency helps the cultural sector to increase ils relevance and resilience through the delivery of
range of servi￿$ which include..
Bespoke consultancy and audien￿ and community research, to help organisalions, consortia and local
agencies to develop their strategies.
Development and implementation of the world-first "Audien￿ Finderf, service., sharing audience dats from
over 800 cultural organisalions and making the data-sets widely available and practically applicable through
sofvare, analytics and a wrap-around customer service.
We enable organisations lo engage larger and more diverse audiences and improve their impact and resilience
with the ultimate objective to widen public aC￿SS and increase the nation's participation in the arts and other
cultural activities.
Our activities help organisations and policy-makers tackle a wide variety of barriers to the arts and culture - such
as financial affordability, social inequality and other socio-economic factors.
The trustees confirm that they have complied with the duly in section 4 of the Charities Act 2011 to have due
regard lo the Charity Commission's general guidan￿ on Public Benefit, Charities and Public Benefit.
Beneficiaries of our service
Our work directly supports cultural organisations, agencies and practitioners lo engage more effectively with the
general public. We also support community organisalions with cultural strategy and work with local, national and
international policymakers to improve the conditions for engagement. We provided a resource or service lo over
1,200 cultural organisations in the period.
We remain committed to being accessible to the widest variety of arts and cultural organisalions and developed
our business model lo enable us to provide lo all a regular feed of current audience trends and information,
especially in relation lo the pandemic. We also used funds to subsidise affordable ServI￿S to smaller charities
and those with limited resources, while still making an impact on the largest cultural institutions in England with
the biggest audience reach. We worked with theatres, concert halls, arts centres, performing arts companies,
galleries, orchestras, outdoor festivals and sile-specific produ￿rS, participatory arts, museums, heritage
organisations and local authorities.
We continued to develop our wort( to support those at the forefront of the sland against inequality, those
promoting diversity and grassroots community initiatives, and this year working on a specific resour￿ lo promote
anti-racism in research practice.
Achievements and Perfomiance
The Audience Agency l TAA") produced a four-year strategy in 2018. The Trustees have reviewed the activities
and plans each year lo ensure that the charity remains focused on its core purpose and on track lo achieve ils
ambitions.
The 2020121 Business Plan was presented lo the Board in February 2020. Based on client feedback and a
situational analysis, we reformulated priorities..
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DoGuSign Envelope ID". F02D415D.08C54EBA.ACB5-B6FF34BE1EAC
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDEO 30 MARCH 2021
To fulureproof the Audience Finder plafform lo enable it to survive a variety of financial S￿narioS by putting
it forefront of relevant technology and at the centre of an international learning allian￿.
To ensure our growing consultancy and research work promotes innovation, user-focus, and positive
change, thereby affecting policy and best practi￿.
To have made the most of resources and the synergies be￿een our aclivilies, our matrix of people,
partnerships and relationships to deliver purpose and impact.
In the event, Covid-19 changed all our initial plans and like every other organisalion, we intrOdU￿d a series of
S￿nariO plans which were reviewed and revised regularly. These plans were informed by feedback and
conversations with stakeholders and the sector and designed lo help organisations survive and then recover.
Activities were collectively communicated as Bounce Forward and included on point advice and insights derived
through original research and disseminated through tsrgeled publishing and events, reaching well over 3,000
practitioners and up to 800 organisations.
Through the year, TAA won funding lo undertake and publish a range of research and evidence about the impact
of Covid-19 on arts, culture and heritage. We developed a Digitsl Audiences Survey, a quick and benchmarkable
survey that organisations could deploy via their own websites and social media. This enabled those
organisations lo better understsnd the motivations, profiles, and habits of their audiences through a period of
rapid and potentially destabilising Change.
This included the "Cultural Participation Monilorf,. Launched in the autumn of 2020, il is a longitudinal, ongoing,
survey of changing views about participating In creative and cultural activities through the pandemic and beyond.
11 was part of a national research programme led by the Centre for Cultural Value in collaboration with the
Creative Industries Policy and Evidence Centre and The Audien￿ Agency.
We were then able to bring the sector the insight il needed as the situation changes, in briefings, reports and in
the media. We also offered a programme of seminars and resources about managing audienTr and community-
cenlred change. Free webinars covered topics such as..
Building and developing online eommunilies
Understanding digital audiences
Measuring digital engagement
Using insight and data effectively for decision making
User ￿ntred approaches
Evaluation
The demand for events was high and we reached 2,000+ cultural sector participants supporting their recovery
planning and business model innovation. Our free webinars and training sessions regularly sold out, and our
insight and research was deployed by oryanisalions lo help them with their plans.
TA4 also continued to develop Audien￿ Finder as the UK'S leading audience insight tool which was land isl
crucial to the recovery and future of the sector. 11 remained free for all and any user. Back-end developments
improve efficiency, stability and speed while changes to the front-end have been designed for practitioners not
confident or experienced in using data and slatislics, including in-lool prompts giving practical suggestions,
natural language ways of presenting insights, and context curated to each user organisation.
We provided an ongoing support Servi￿ to all users in England, Wales and Scotland, moving all our group and
1-2-1 support online throughout the pandemic period and beyond.
After a brief hiatus in commissioned, paid-for servI￿s, demand returned rapidly towards the end of 2020. This
wort( included highly tailored research on audiences, communities, impact and opportunities and specialised
advi￿ in the development of effective strategy, as many cultural organisalions and creative industries pivoted
Page 4

DoGuSign Envelope ID". F02D415D.08C54EBA.ACB5-B6FF34BE1EAC
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDEO 30 MARCH 2021
their approach and explored new business models for a post-pandemic world, our services were in high demand
by 2021. The Income we derived helped us to continue to provide the stream of free insight and support outlined
above.
This late boom was a relief after the drastic shortfall in income we experienced in the earfy part of 2020 caused
by the pandemic. Managing the shortfall was In Itself a major achievement.. we made quick and decisive cuts to
our overheads to safeguard jobs and keep the core of the organisation able to function..
Staff were moved onto short term contracts for a period of 3 months and in some cases longer
100/0 of the workforce were made redundant
The senior leadership team look a 209/0 pay cut for a part of the year
A skeleton staff managed essential workload in the first six months, and we were able lo relain the majority
of our team thanks to the lifeline of the fvrlough scheme
We were also fortunate to secure money from the Cultural Recovery Fund Idelailed below). All these measures
together meant that we emeryed from lockdown as a healthy organisalion ready lo flex around the fluctuating
needs of the sector and their communities.
Indeed, the learning from Covid-19, alongside other factors (such as increased competition in the mart(elplace
and a changing seclorl prompted the development of an organisalional change plan at the end of the year. We
developed a four-part charity offer with and for different groups of users..
Cultural Participation
Creative Communities and Places
Evidence and Insight
Audience Finder Support and Tools
From April 2020, the development of the Audience Finder Platform was moved into the trading subsidiary and
became the division of TAAS Ltd through which TAA Group".
sells softhareldala servi￿$ and li￿nSeS associated IP lo partners
invests in future versions of ils tech platFomis
collaborates with technology and research partners relating to the above.
Financial review
TAA'S financial objective is lo ensure financial stability and continued solvency year on year to enable il to pursue
ils aims and objectives. The aim is also lo increase its level of free reserves Isee reserves policy below).
For the financial period 2020121, the total income was £2.79m, a 12,10 decrease over the previous financial year
1£3.18ml. Expenditure was £2.49m, a 9°/0 decrease over the previous year1£2.74ml. TAA produced an end of
year surplus of £306,332 which meant that the unrestricted reserves to be carried forward were £1,095,528 (see
reserves section below).
The overall performan￿ in the financial year was gready assisted by a grant of £324k from the Cultural
Recovery Fund, £192k from the Coronavirus Job Retention Scheme and the staff actions described above.
Although our Consultancy and research servi￿5 performed beller than had been initially projected al the start of
2020121, the percentage of earned income was 41.10, down from 63°/D in 2019120.
During 2020121, we continued to invest in the development of the Audien￿ Finder platform. This investment has
been recognised in the accounts of the charity as a Programme Related Investment, reflecting the importanTr of
the platform as a longer-lerm asset.
Page 5

DoGuSign Envelope ID". F02D415D.08C54EBA.ACB5-B6FF34BE1EAC
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDEO 30 MARCH 2021
Reserves policy
The Board's policy on reserves is lo target a reserve level which is equal lo three lo six months. projected fixed
costs (fixed costs being rent, rates and other running, but not activity costs), This tsrgel level of reserves should
be free reserves, or money readily realisable, and therefore should not include fixed assets. Where the target
level of reserve5 has been reached, the Board would seek lo reinvest those surplus funds in the following
financial year, lo support the development of our service to the sector.
At the period end, total unreslricled reserves were £1,095,528 which included £527,465 of fixed assets. Free
reserves were therefore £568,063. Our most recent calculation is that three months, running costs would be
approximately £600k.
Risk Management
The Board regularly reviews and assesses the risks to which TAA may be exposed. A risk register identifies
those risks and a¢lions agreed lo mitigate them. Each Board meeting highlights the key issues and risks facing
each of the Business Units and for TAA as a whole.
The identified high-level risks al the end of March 2021 were..
RISK
MITIGAMON
oemano reduces
Bulla on agile user-centreo praaices ana processes
Market test ollerslprthise produuLsaion
Close monrtortng maTketlng slrategyirocusetj buslness development
Mèiyiris nallinemeciease
Siiiiplify sliuctuies Difleienliai￿ oifers al￿ priow.
Measure and track Lwdgeting allnbution
PrrM1ucb5e
Build in I￿X through asgxrole network
ReduCt￿remOval tsfmaior
lundlng ￿reaM
continued dwe¥siThcation oi income
continuett Intemavonai coiiamration
Weak Cash Flow
Weekly cashfiow re￿￿W
Budgets devek>pe(S to ge￿erate hlghei net surpluses
Re$ille￿ and Recgvery loan (April 20211
Insuffic*)I capacty or
capatsilty
Contlnuous rewew of ￿lOr￿*S
Fk¥lNe resourclng options
Compewion in Ihe Market
Promote cleater. simpler offer. Differenliale(I pricing.
Improve uniquo aata
straiegic mawing. ReDrano promote"speciaiLSts'
Page 6

DoGuSign Envelope ID". F02D415D.08C54EBA.ACB5-B6FF34BE1EAC
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDEO 30 MARCH 2021
Plans for the future
Our 2021122 Business Plan was developed by tssk groups Involving a cross section of TAA staff, and two board
working groups, focussing on different areas of risk and opportunity. It was designed lo enable us to continue to
support our sector through seismic change lo come In the best way we are able.
The Plan reflects our ambitions to "build back betterf,, for a posl-pandemic world which continues Challenging for
our stakeholders in the cultural and creative industries. The emphasis of our work will be on enabling recovery
and regeneration
for Individual organisalions, consortia and local authorities as well as the communities they
serve. Overall, this means investing in critical services that only TAA can properly provide
like Audience
Spectrum and a¢￿$S to the Audience Finder data- and focusing our services on the needs of the moment.
We hope to so this in way that is responsible and sustainable for our hard-working and resilient workforce. We
don't anticipate a large surplus for 21122 but want to ensure instead a strong platform for future years. The aim is
lo grow revenue, margin and Impact.
The obieclives for 2021122 are..
To provide a tested suite of services which meet the recovery, regeneration and inclusion needs of the full
range of our stakeholders and client base, as they develop.
To increase the uptake and affordability of our most-in demand seNices, improving their communication and
working with users lo priorilise and design them.
To improve the quality, range, relevance of and a¢￿sS lo our unique data assets, in a way relevant lo our
users and sustainable for TAA.
To increase our thoughl-leadership as dats-inspired leaders, worthy custodians of national datasets,
ehampions of cultural demoer8cy, inclusion and innovation in these fields.
To improve staff wellbeing, addressing materially issues associated with overworking, new patterns of
homeworking, career progression and personal development.
And through the subsidiary..
To further encourage confident use of audience data through the release of new Audience Finder 2.0
functionality in the UK by March 2022.
To extend the scope and value of Audience Finder 2.0 land other TAA IPI by bringing additional
investment and expertise, including from at least two intemalional partners.
Structure, Governance and Management
Governlng Document
The Audience Agency is a company limited by guarantee, established on 25 June 2012, and registered as a
charity on 29 November 2012. 11 is governed by its Memoondum and Articles of Association. The company's
object is the promotion of the arts for public benefit by the provision of advice, support and information, and the
provision of support services.
The governing body is the Board whose members are non-execulive and unpaid. They meet regularly and retain
full and effective control over the Company and monitor the Executive. The Board is involved in major strategic
decisions and has ultimate responsibility for the conduct and financial stability of TAA.
Recrultment and Appolntment of Trustees
As set out in the Memorandum and Articles of Association, the Board shall consist of not less than three and not
more than fifteen people. As al 30 March 2021, the Board comprised eight people. New Trustees are appointed
through an open recruitment process and we advertised the roles widely through sector sites and specialist
recruitment sites to encourage as wide a response as possible.
Page 7

DoGuSign Envelope ID". F02D415D.08C54EBA.ACB5-B6FF34BE1EAC
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDEO 30 MARCH 2021
Induction and Training of Trustees
Information packs are provided lo all Trustees detsiling our work and their roles, responsibilities and obligations
as a Trustee and as a Director. Each prospective new Trustee attends a Board meeting prior to appointment in
order for them to understand how TAA is managed and govemed. Other documents provided lo new Trustees
Include previous accounts, the Business Plan and Charity Commission guidanTr. New Trustees are also
partnered with one of the Executive team so that they can get a more detsiled understsnding of the organisation
and its activities.
On an ongoing basis, Trustees are encouraged to attend appropriate external training courses and events. The
annual Board away day provides an opportunity for development and throughout the year mini-Board workshops
are run on issues of strategic importance.
Oryanisational Structure
The organisalional structure is reviewed regularly.
The Board delegates full control to the Chief Executive Officer and the Executive Team for the delivery of the
agreed plans. The Board monitors and reviews the quality, timeliness and relevan￿ of the information provided
lo the Board meetings by members of the Executive Team.
The Board has established a FinanTr Sub-committee, which meets Iwo weeks before each Board meeting, to
review the financial position and provide advi￿ and support to the Executive Team.
Related Parties
The organisalion maintains a register of Interests for Board members and members of the Senior Management
Team. Board members are required to declare any conflicts of interest before each Board meeting.
The Audience Agency ServiTrs Limited is a wholly owned subsidiary of the company and was estsblished
originally lo manage a print distribution service in the North West of England. In 2020-21, the subsidiary
comprised Golant Innovation, an innovation agency, whose consultancy services complimented those of the
charity. The research and development work for Audience Finder was also conducted through the trading
subsidiary.
Remuneration Policy for Key Personnel
The Board sets the remuneration for the Chief Executive and other key personnel. Pay rates are determined by
reference lo an internal evaluation scheme and extemal benchmarking.
ststement of Trustees. Responsibilities
The trustees (who are also directors of The Audien￿ Agency for the purposes of company lawl are responsible
for preparing the Iruslees, annual report and the financial statements in accordance with applicable law and
United Kingdom Accounting Stsndards (United Kingdom Generally Accepted Awounting Praclicel.
Company law requires the trustees to prepare financial stslements for each financial year which give a true and
fair view of the slate of affairs of the charitable group and of the incoming resources and application of
resources, including the income and expenditure, of the charitable group for that period. In preparing these
financial statements, the trustees are required lo..
Select suitable awounting policies and then apply them consistently
Observe the methods and principles in the Charities SORP
Page 8

DoGuSign Envelope ID". F02D415D.08C54EBA.ACB5-B6FF34BE1EAC
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDEO 30 MARCH 2021
Make judgements and estimates that are reasonable and prudent
Stale whether applicable UK Accounting Standards and statements of recommended practice have been
followed, subject to any material departures disclosed and explained in the financial stslemenls
Prepare the financial statements on the going concern basis unless It is inappropriate to presume that the
charity will Continue in operation
The Iruslees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at
any lime the financial position of the charitable group and enable them lo ensure that the financial statements
comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable
company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware..
There Is no relevant audit Information of which the charitable company's auditors are unaware.
The trustees have taken all steps that they ought to have taken lo make themselves aware of any relevant
audit information and lo establish that the auditors are aware of that infomialion.
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.
Auditors
Cooper Parry continued as the charitable companls auditors In 2020121.
This report has been prepared in accordance with the provisions applicable lo companies subject to the small
companies. regime of the Companies Act 2006.
Approved by order of the members of the board of Trustees and signed on their behalf by..
DOC￿s￿n•d by..
9AB11h4D3FgF46B...
Locke
Ichair of Trustees)
20 December 2021
S Parker
(VI￿ Chair of Trusleesl
Dale..
Page 9

DoGuSign Envelope ID". F02D415D.08C54EBA.ACB5-B6FF34BE1EAC
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE AUDIENCE AGENCY
Oplnlon
We have audited the financial ststemenls of The Audien￿ Agency Ithe 'parent charitable company'l and ils
subsidiaries (the 'group'l for the year ended 30 March 2021 which comprise the Consolidated Statement of
Financial Aclivilies, the Consolidated Balan￿ Sheet, the Charity Balance Sheet, the Consolidated Statement of
Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting
framework that has been applied in their preparation is applicable law and United Kingdom Accounting
Standards, including Financial Reporting Standard 102 'The Financial Reporting Stsndard applicable in the UK
and Republic of Ireland, (United Kingdom Generally Accepted Accounting Praclicel.
In our opinion the financial statements..
give a true and fair view of the slate of the Group's and of the parent charitable company's 8ffairs as at 30
March 2021 and of the Group's incoming resources and applicab'on of resources, including its income and
expenditure for the year then ended.,
have been properfy prepared in accordance with United Kingdom Generally Accepted Accounting
Practice., and
have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities
Act2011.
Basis for opinion
We conducted our audit in accordanTr with International Standards on Auditing IUKI IISAS IUKII and applicable
law. Our responsibilities under those standards are further described in the Audilorfs responsibilities for the audit
of the financial statements section of our report. We are independent of the Group in accordance with the ethical
requirements that are relevant to our audit of the financial statements in the United Kingdom, including the
Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in
accordance with these requirements. We believe that the audit eviden￿ we have obtained is sufficient and
appropriate to provide a basis for our opinion.
Conclusions relating to going concorn
In auditing the financial slalements, we have concluded that the Trustees. use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubl on the Group's or the parent charitable
company's ability to continue as a going concern for a period of at least ￿e1ve months from when the financial
slalements are aulhorised for issue.
Our responsibilities and the responsibilities of the Trustees wth respect lo going COn￿M are described in the
relevant sections of this report.
Page 10

DoGuSign Envelope ID". F02D415D.08C54EBA.ACB5-B6FF34BE1EAC
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE AUDIENCE AGENCY ICONTINUED}
Other Informatlon
The Trustees are responsible for the other information. The other information comprises the information included
in the Annual Report, other than the financial statements and our Auditor's Report thereon. Our opinion on the
financial statements does not cover the other information and, except lo the extent otherwise expliciuy ststed in
our report, we do not express any form of assurance conclusion Ihereon.
In connection with our audit of the financial statements, our responsibility is lo read the other information and, in
doing so, consider whether the other information is materially inconsistent with the financial statements or our
knowledge obtained in the audit or otherwise appears to be materially misslaled. If we identify such material
inconsistencies or apparent material misstatements, we are required to determine whether there is a material
misstatement in the financial statements or a material misstatement of the other information. If, based on the
work we have performed, we conclude that there is a material misstslemenl of this other information, we are
required to report that fact.
We have nothing to report in this regard.
Oplnlon on other matters prescrlbed by the Companles Act 2006
In our opinion, based on the work undertaken in the course of the audit..
the informab'on given in the Trustees, Report for the financial year for which the financial stslemenls are
prepared is consistent with the financial ststements.
the Trustees, Report has been prepared in accordance with applicable legal requirements.
Matters on whlch we are requlred to report by exceptlon
In the light of our knowledge and understanding of the charitable company and its environment obtsined in the
course of the audit, we have not identified material misstatements in the Trustees, Report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires
us to report to you if, in our opinion..
the parent charitable company has not kept adequate and sufficient aceounling records, or returns
adequate for our audit have not been received from branches not visited by us, or
the parent charitable company financial statements are not in agreement with the accounting records and
returns,. or
certain disclosures of Trustees, remuneration specified by law are not made., or
we have not received all the information and explanations we require for our audit., or
the Trustees were not entitled to prepare the financial statements in accordance with the small companies
regime and take advantage of the small companies. exemptions in preparing the Trustees, Report and
from the requirement to prepare a Strategic ReFlOrt.
Page11

DoGuSign Envelope ID". F02D415D.08C54EBA.ACB5-B6FF34BE1EAC
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE AUDIENCE AGENCY ICONTINUED}
Responslbllltles of trustees
As explained more fully in the Trustees, Responsibilities Statement, the Trustees Iwho are also the directors of
the charitable company for the purposes of company lawl are responsible for the preparation of the financial
statements and for being satisfied that they give a true and fair view, and for such internal control as the
Trustees determine is ne￿SSary lo enable the preparation of financial statements that are free from material
misstatement, whether due lo fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent
charitable company's ability to continue as a going concern, disclosing, as applicable, mallers related to going
concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group
or the parent charitable company or to cease operations, or have no realistic alternative but to do so.
Audltorfs responslbllltles for the audlt of the flnanclal statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misslatemenl, whether due to fraud or error, and lo issue an Audilovs Report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance with ISAS IUKI will always detect a material misststemenl when it exists. Misstatements can arise
from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be
expected lo influence the economic decisions of users taken on the basis of these financial ststemenls.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures
in line with our responsibilities, outlined above, lo delect material misststemenls in respect of irregularities,
including fraud. The extent to which our procedures are capable of delecling irregularities, including fraud is
detsiled below..
Our assessment focussed on key laws and regulations the Group and parent charitable company has lo comply
with and areas of the financial stslemenls we assessed as being more susceptible to misstatement. These key
laws and regulations included but were not limited lo compliance with the Companies Act 2006, Charities Act
2011, taxation legislation, data protection, anti-bribery and employment legislation.
We are not responsible for preventing irregularities. Our approach to delecling irregularities included, but was not
limited lo, the following..
obtaining an understanding of the legal and regulatory framework applicable to the Group and parent
charitable Company and how the Group and parent charitable company are complying with that framework,
including agreement of financial statement disclosures to underfying documentation and other evidence.,
obtaining an understanding of the Group and parent charitable company's control environment and how the
Group and parent charitable company have applied relevant control proCedU￿s, through discussions with
Trustees and other management and by performing walklhrough testing over key areas",
obtaining an understanding of the Group and parent charitable company's risk assessment process,
including the risk of fraud.,
reviewing meeting minutes of those charged with governan￿ throughout the year., and
performing audit testing lo address the risk of management override of controls, including testing journal
entries and other adjustments for appropriateness, evaluating the business rationale of significant
transactions outside the normal course of business and reviewing accounting estimates for bias.
Whilst considering how our audit work addressed the detection of irregularities, we also considered the likelihood
of detection based on our approach. Irregularities arising from fraud are inherently more difficult lo delecl than
those arising from error.
Page 12

DoGuSign Envelope ID". F02D415D.08C54EBA.ACB5-B6FF34BE1EAC
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE AUDIENCE AGENCY ICONTINUED}
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including
those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk
increases the more that compliance with a law or regulation is removed from the events and transactions
reflected in the financial statements, as we will be less likely lo become aware of instances of non-compliance.
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves
intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website al.. www.frc.or
.uklauditorsres
onsibililies. This description forms part of our
Auditor's Report.
Use of our report
This report is made solely to the charitable company's members. as a body, in accordance with Chapter 3 of Part
16 of the Companies Act 2006, and lo the charitable company's Iruslees, as a body, Part 4 of the Charities
(Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might stale to the
charitable company's members those matters we are required lo stale to them in an Auditor's Report and for no
other purpose. To the fullest extent pemiitted by law, we do not accept or assume responsibility lo anyone other
than the charitable company and ils members, as a body, for our audit work. for this report, or for the opinions
we have formed.
Slmori Atklns FCA Ispnlor Statutory Audltorl
for and on behalf of
Cooper Parry Group Llmlted
Chartered Accountants
Statutory Auditor
One Central Boulevard
Blythe Valley Business Park
Solihull
West Midlands
B90 8BG
Dale.. 20 December 2021
Page 13

DoGuSign Envelope ID". F02D415D.08C54EBA.ACB5-B6FF34BE1EAC
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND
EXPENDITURE ACCOUNTI
FOR THE YEAR ENDED 30 MARCH 2021
Unrestricted
funds
2021
Restricted
funds
2021
Total
funds
2021
Total
funds
2020
Note
Income from:
Government grants
Charitsble activities
Other trading activities
Other income
192,043
1,475,518
312,865
86,739
192,043
2,255,229
312,865
86,739
779,711
2,752,216
339,204
93,232
Total income
Expenditure on:
Raising funds
Charitable activities
2,067,165
779,711
2,846,876
3,184,652
440, 171
1,288,281
440, 171
2,052,081
312,445
2,428,252
763,800
Total expenditure
1,728,452
763,800
2,492,252
2,740,697
Net movement in funds
338,713
15,911
354,624
443,955
Roconciliation of funds:
Total funds brought forward
Nel movement in funds
805,107
338,713
805,107
354,624
361,152
443,955
15,911
Total funds carried forward
1,143,820
15,911
1,159,731
805, 107
The Consolidated Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 18 to 38 form part of these financial statements.
Page 14

DoGuSign Envelope ID". F02D415D.08C54EBA.ACB5-B6FF34BE1EAC
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
REGISTERED NUMBER: 08117915
CONSOLIDATED BALANCE SHEET
AS AT 30 MARCH 2021
2021
2020
Note
Fixed assets
Intangible assets
Tangible assets
12
13
522,660
4,805
482,855
7,268
527,465
490,123
Current assets
Debtors
Cash al bank and in hand
15
623,450
704,057
753,376
86,297
1,327,507
839,673
Creditors.. amounts falling due within one
year
16
1695,2411
1524,6891
Net current assets
632,266
314,984
Total net assets
1,159,731
805, 107
Charity funds
Reslricled funds
Unrestricted funds
18
15,911
1,143,820
18
805, 107
Totsl funds
1,159,731
805,107
The financial statements have been prepared in accordance with the provisions applicable to enlilies subject to
the small companies regime.
The financial
stslemenls were approved
20 December ZO21
and
8Uthorised for
issue
by the Trustees on
and signed on their behalf by".
W11PAD3FgFW...
M Locke
ICh8ir of Trustees)
(Vice chair of Trusteesl
The notes on pages 18 to 38 form part of these fin8nci81 statements.
Page 15

DoGuSign Envelope ID". F02D415D.08C54EBA.ACB5-B6FF34BE1EAC
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
REGISTERED NUMBER: 08117915
CHARITY BALANCE SHEET
AS AT 30 MARCH 2021
2021
2020
Note
Fixed assets
Intangible assets
Tangible assets
Investments
12
13
14
16,651
4,805
502,660
124,243
7,268
347,586
524,116
479,097
Current assets
Debtors
Cash al bank and in hand
15
394,604
647,551
640,864
71,053
1,042,155
711,917
Creditors." amounts falling due within one
year
16
161 6,3821
1534,2331
Net current assets
425,773
177,684
Total assets less current liabilities
949,889
656,781
Total net assets
949,889
656,781
Charity funds
Reslricled funds
Unrestricted funds
18
18
15,911
933,978
656,781
Total funds
949,889
656,781
The financial slalemenls have been prepared in accordan￿ with the provisions applicable to enlilies subject lo
the small companies regime.
The financial
statements were approved
and
aulhorised for issue
by the Trustees on
20 December 2W signed on their behalf by..
Do¢us¥Mdty'.
3F9F468...
Ichair of Trustees)
(Wi￿ Chair of Trusleesl
The notes on pages 18 to 38 form part of these financial statements.
Page 16

DoGuSign Envelope ID". F02D415D.08C54EBA.ACB5-B6FF34BE1EAC
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 MARCH 2021
2021
2020
Note
Cash flows from operating activities
Nel cash provided by operating activities
20
1,017,789
405,280
Cash flovts from investing activities
Purchase of intangible assets
Purchase of tangible fixed assets
12
13
1348,5811
11,4481
1425,8131
16,5401
Net cash used in investing activities
1350,0291 1432,3531
Cash flows from financing activities
Cash inflows from new borrowing
Repayments of borrowing
50,000
130,0001
150,0001
Net cash (used inllprovided by financing activities
150,0001
20,000
Change In cash and cash equlvalents In the year
Cash and cash equivalents at the beginning of the year
617,760
17,0731
86,297
93,370
Cash and cash equivalents at the end ofthe year
21
704,057
86,297
The notes on pages 18 to 38 form part of these financial statements
Page 17

DoGuSign Envelope ID". F02D415D.08C54EBA.ACB5-B6FF34BE1EAC
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2021
General Infomiatlon
The Audience Agency is a private company, limited by guarentee, incorporated in England and Wales
1081179151. The principal address of the group is The Whitehouse, Wilderspool Business Park, Greenalls
Avenue, Stockton Heath, Warrington, WA4 6HL.
Accountlng pollcles
2.1 Basis of preparation of financial statements
The financial statements are prepared in Sterling 1£) which is the functional currency of the Charity.
The financial stalments are for the year ended 30 March 202112020.. period ended 30 March 20201.
The financial slalements have been prepared in accordan￿ with the Charities SORP IFRS 1021
Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable lo charities
preparing their accounts In accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021 leffeclive 1 January 20191, the Financial Reporting Standard
applicable In the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006.
The Audience Agency 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 slated in the
relevant accounting policy.
The Consolidated Statement of Financial Activities ISOFAI and Consolidated Balan￿ Sheet
consolidate the financial statements of the Charity and ils subsidiary undertaking. The results of the
subsidiary are consolidated on a line by line basis.
The Charity has taken advantage of the exemption allowed under section 408 of the Companies Act
2006 and has not presented its own Statement of Financial Activities in these financial stalemenls.
The parent charity made a surplus of £290,572.
2.2 Going concern
Al the balance sheet dale, the Charity had a strong nel asset position. Al the lime of signing these
accounts, the Iruslees have considered the effect of the Coronavirus pandemic on the going con￿rn
position, and consider that the Charity will continue lo operate for a period of al least 12 months from
the date of signing these accounts due lo the reserves available lo it.
The financial forecasts prepared show that the Charity will be able to operate within the facilities
available lo it.
On that basis, the trustees have prepared these financial statements on a going con￿rn basis.
Page 18

DoGuSign Envelope ID". F02D415D.08C54EBA.ACB5-B6FF34BE1EAC
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2021
Accountlng pollcles Icontlnuedl
2.3 Income
All income is recognised once the Charity has entillemenl lo the income, il is probable that the
income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Consolidated Statement of Financial Activities on a receivable basis. The
balan￿ of income received for specific purposes but not expended during the period is shown in the
relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt,
its recognition is deferred and included in creditors as deferred income. Where entitlement occurs
before income is received, the income is accrued.
Other income is recognised in the period in which il is receivable and to the extent the goods have
been provided or on completion of the Se￿1￿.
2.4 Expendlture
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit
to a third paty, it is probable that a transfer of economic benefits will be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is classified by aclivily. The costs
of each activity are made up of the total of direct costs and shared costs, including support costs
involved in undertaking each activity. Direct costs attributable lo a single activity are allocated directly
to that aclivily. Shared costs which contribute to more than one activity and support costs which are
not attributable lo a single activity are apportioned between those activities on a basis consistent with
the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation
charges allocated on the portion of the asset's use.
Expenditure on charitable activities is incurred on direcuy undertaking the activities which further the
Group's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.5 Donated servlces and facllltles
Donated professional SeNi￿S and donated facilities are recognised as income when the charity has
control over the item, any conditions associated with the donated item 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 IFRS 1021, general volunteer lime is not
recognised,. refer lo the trustees, annual report for more information about their contribution.
On re￿ipt, donated 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 lo pay lo obtain
services and facilities of equivalent economic benefit on the open market,. a corresponding amount is
then recognised in expenditure in the period of receipt.
2.6 Government grants
Government grants relating to tangible fixed assets are credited lo the Consolidated Statement of
Financial Activities and held in reseNes, depreciation is charged over the expected useful lives of the
assets concerned. Other grants are credited to the Consolidated Statement of Financial Activities as
the related expenditure is incurred.
Page 19

DoGuSign Envelope ID". F02D415D.08C54EBA.ACB5-B6FF34BE1EAC
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2021
Accountlng pollcles Icontlnuedl
2.7 Intangible assets and amortisation
Intangible assets are capilalised and recognised when future economic benefits are probable and the
cost or value of the asset can be measured reliably.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intsngible
assets are measured al cost less any accumulated amortisalion and any accumulated impairment
losses.
Goodwill arising on business combinations is capitalised, classified as an asset on the balance sheet
and amortised on a straight line basis over ils useful life. The period chosen for writing off goodwill is
three years. Provision is made for any impairment.
Amortisalion is provided on intangible assets at rates calculated to write off the cost of each asset on
a straighl-line basis over its expected useful life.
Amortisation is provided on the following bases..
Data assets
Computer So￿are
33 0/0
33 0/0
2.8 Tanglble flxed assets and depreclatlon
Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic
benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible
fixed assets are measured al cost less accumulated depreciation and any accumulated impairment
losses. All costs incurred lo bring a tsngible fixed asset into its intended working condition should be
included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value
over their estimated useful lives, using the straighl-line method.
Depreciation is provided on the following basis..
Office equipment
Computer equipment
200
330
2.9 Investments
Programme related investment is an amount equal to the capitsl contribution provided lo the trading
subsidiary to develop an intangible asset lo further the charitsble purposes of the charity. The
Investment is written down in line with the value of the asset in the trading subsidiary.
Investments in subsidiaries are valued at cost less provision for impairment.
2.10 Debtors
Trade and other debtors are recognised al the settlement amount after any trade discount offered.
Prepayments are valued al the amount prepaid net of any trade discounts due.
Page 20

DoGuSign Envelope ID". F02D415D.08C54EBA.ACB5-B6FF34BE1EAC
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2021
Accountlng pollcles Icontlnuedl
2.11 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity
of three months or less from the dale of acquisition or opening of the deposit or similar account.
2.12 Llabllltles and provlslons
Liabilities are recognised when there is an obligation at the Balan￿ Sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in selllemenl, and the amount
of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay lo settle the debt or the
amount il has re￿iVed as advanced payments for the goods or setvices it musl provide.
Provisions are measured at the best estimate of the amounts required lo settle the obligation. Where
the effect of the time value of money is material, the provision is based on the present value of those
amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The
unwinding of the discount is recognised in the Consolidated Slalement of Financial Activities as a
finance cost.
2.13 Flnanclal Instruments
The Group 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 al their settlement value with the exception of bank loans which are subsequently
measured al amortised cost using the effective interest method.
2.14 Operatlng leases
Rentals paid under operating leases are charged lo the Consolidated Ststemenl of Financial
Activities on a straight line basis over the lease term.
2.15 Penslons
The Group operates a defined contribution pension scheme and the pension charge represents the
amounts payable by the Group to the fund in respect of the year.
2.16 Fund accountlng
General funds are unreslricled funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Group and which have not been designated for other
purposes.
Restricted funds are funds which are to be used in accordan￿ with specific reslriclions imposed by
donors or which have been raised by the Group for particular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each restricted
fund is set out in the notes lo the financial statements.
Page 21

DoGuSign Envelope ID". F02D415D.08C54EBA.ACB5-B6FF34BE1EAC
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2021
Income from government grants
Unrestricted
funds
2021
Total
funds
2021
Total
funds
2020
Government grants
192,043
192,043
Government grants received in the period relate lo the Coronavirus Job Retention Scheme.
Page 22

DoGuSign Envelope ID". F02D415D.08C54EBA.ACB5-B6FF34BE1EAC
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2021
Income from charltable actlvltles
Unrestricted Restricted
funds
funds
2021
2021
Total
funds
2021
Total
funds
2020
Major stakeholders and funders
Arts Council England
ADESTE
Audiences Insight Wales
Creative Scotland
COLA
324,000
763,800
15,911
1,087,800
15,911
56,834
291,245
752,975
15,772
100,570
335,115
12,2181
31,660
30,800
56,834
291,245
Connect
New Capacity development
Subtotal for major stakeholders and
funders
Bespoke Servlces
Consultancy
Data analysis
Research
114,7251
114,7251
657,354
779,711
1,437,065
1,264,674
423,267
17,950
252,640
423,267
17,950
252,640
537,678
21,725
589,809
Subtotal for bespoke services
Packagelprogramme income
Audien￿ spectrum licensing
Enhanced dashboards
693,857
693,857
1,149,212
6,100
33,788
71,692
12,725
6,100
33,788
71,692
12,725
56,025
100,203
158,631
23,471
Package servi￿$
Showstals
Subtotal for packagelprogramme income
124,305
124,305
338,330
1,475,516
779,711
2,255,227
2,752,216
Total 2020
1,954,784
797,432
2,752,216
Page 23

DoGuSign Envelope ID". F02D415D.08C54EBA.ACB5-B6FF34BE1EAC
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2021
Income from other tradlng actlvltles
Unrestrlcted
funds
2021
Total
funds
2021
Total
funds
2020
Consultancy services
312,865
312,865
339,204
All income from other trading activities in the prior year was unreslricled.
other incoming resources
Unrestricted
funds
2021
Total
funds
2021
Total
funds
2020
Research and development tax credit
86,739
86,739
93,232
All income from other incoming reSoUr￿S in the prior year was unreslricled.
Expenditure on raising funds
Trading subsidiary expenses
Unrestricted
funds
2021
Total
funds
2021
Total
funds
2020
Cost of sales
Adminislralion expenses
Administration staff costs
31,253
210,083
198,835
31.253
210,083
198,835
69,708
111,401
131,336
440,171
440,171
312,445
Page 24

DoGuSign Envelope ID". F02D415D.08C54EBA.ACB5-B6FF34BE1EAC
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2021
Analysls of expendlture by actlvltles
Activities
undertaken
directly
2021
Total
funds
2021
Total
funds
2020
Advice and assistance
2,052,081
2,052,081
2,428,252
Analysis of direct costs
Advice &
assistsnce
2021
Total
funds
2021
Total
funds
2020
Staff costs
Depreciation and amortisation
Programme cost
Bespoke overheads
Office, travel and training costs
Governance
1,296,115
111,503
282,975
116,205
70,961
14,491
77,759
82,072
1,296,115
111,503
282,975
116,205
70,9S1
14,491
77,759
82,072
1,478,616
93,031
290,914
241,668
138,402
11,418
79,614
94,591
Rent and rates
Website and IT
2,052,081
2,052,081
2,428,252
Total 2020
2,428,252
2,428,252
The above expenditure is split £763,800 12020.. £802,046) restricted expenditure and £1,288,281 12020..
£1,628,246) unrestricted expenditure. Governance costs Include the audit remuneration of £9.00012020'.
Governance costs Include audit remuneration of £9,000 and expenses reimbursement for board
meeliings of £2,416).
Page 25

DoGuSign Envelope ID". F02D415D.08C54EBA.ACB5-B6FF34BE1EAC
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2021
Audltorfs remuneratlon
2021
2020
Fees payable to the Charitys auditor for the audit of the Charity's annual
accounts
9,000
9,000
10. Staff costs
Group
2021
Group
2020
Charlty
2021
Charlty
2020
Wages and salaries
Social security costs
Pension cost
1,313,171
141,401
40,378
1,418,224
151,190
40,538
1,114,336
141,401
40,378
1,286,888
151,190
40,538
1,494,950
1,609,952
1,296,115
1,478,616
The average number of persons employed by the Charity during the year was as follows..
Group
2021
No.
Group
2020
No.
Adminislralion staff
45
45
No employee re￿iVed remuneration amounting to more than £60,000 in either year.
The key management personnel of the charity comprise the trustees and the Executive Team. The roles
within the Executive Team are CEO, Chief Operating offi￿r, Chief Research Officer, Head of Finance &
Ops, Director of Data Platforms and the Innovation Director.
During the year 2 employees12020.' Nil) received redundancy payments totaling £1,58712020'. £Nill.
The total employee benefits of the key management personnel of the charity were £275,586 12020".
£278,526>.
11.
Trustees. remuneration and expenses
During the year, no Trustees re￿iVed any remuneration or other benefits12020." £Nill.
During the year ended 30 March 2021, expenses tolalling £NIL were reimbursed or paid directly lo
Truslee12020 - £539 to 6 Trusleesl. Expenses related to travel and subsistence.
Page 26

DoGuSign Envelope ID". F02D415D.08C54EBA.ACB5-B6FF34BE1EAC
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2021
12. Intanglble assets
Group
Computer
software
Data assets
Goodwill
Total
Cost
At 31 March 2020
338,360
432,650
348,581
23,000
794,010
348,581
Additions
At 30 March 2021
338,360
781,231
23,000
1,142,591
Amortisation
At 31 March 2020
Charge for the year
214,117
107,592
85,065
193,515
11,973
7,669
311,155
308,776
At 30 March 2021
321,709
278,580
19,642
619,931
Net book value
At 30 March 2021
16,651
502,651
3,358
522,660
At 30 March 2020
124,243
347,585
11,027
482,855
Page 27

DoGuSign Envelope ID". F02D415D.08C54EBA.ACB5-B6FF34BE1EAC
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2021
12. Intanglble assets {contlnued)
Charlty
Data assets
Cost
At 31 March 2020
338,360
At 30 March 2021
338,360
Amortisation
At 31 March 2020
Charge for the year
214,117
107,592
At 30 March 2021
321,709
Net l)ook value
At 30 March 2021
16,651
At 30 March 2020
124,243
Page 28

DoGuSign Envelope ID". F02D415D.08C54EBA.ACB5-B6FF34BE1EAC
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2021
13. Tanglble flxed assets
Group and Charlty
Office
equipment
Computer
equipment
Total
Cost or valuation
At 31 March 2020
Additions
27,888
87,799
1,448
115,687
1,448
At 30 March 2021
27,888
89,247
117,135
Depreclatlon
At 31 March 2020
Charge for the year
27,888
80,531
3,911
108,419
3,911
At 30 March 2021
27,888
84,442
112,330
Net book value
At 30 March 2021
4,805
4,805
At 30 March 2020
7,268
7,268
Page 29

DoGuSign Envelope ID". F02D415D.08C54EBA.ACB5-B6FF34BE1EAC
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2021
14.
Flxed asset Investments
Investments
in
Subsidiary Programme
ompanies
investment
Total
Charity
Cost or valuation
At 30 March 2020
Additions
432,650
348,589
432,651
348,589
At 30 March 2021
781,239
781,240
Impalmient
At 31 March 2020
Charge for the year
85,065
193,515
85,065
193,515
At 30 March 2021
278,580
278,580
Net l)ook value
At 30 March 2021
502,659
502,660
At 30 March 2020
347,585
347,586
Principal subsidiaries
The following was a subsidiary undertaking of the Charity..
Name
Company
number
Holding
Included in
consolidation
The Audence Agency Services Limited
06994989
1000/. Yes
The financial results of the subsidiary for the year were..
Name
Income
Expenditure
ProfiU{Lossl
for the year
Net a¥$ets
The Audence Agency Services Limited
351,312
1531,5431
1180,2311
664,210
Page 30

DoGuSign Envelope ID". F02D415D.08C54EBA.ACB5-B6FF34BE1EAC
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2021
15. Debtors
Group
2021
Group
2020
Charity
2021
Charity
2020
Due after more than one year
other debtors
20,000
20,000
Due within one year
Trade debtors
Amounts owed by group undertakings
Other debtors
291,158
387,177
251,539
20,000
51,288
71,777
364,264
58,686
141,280
76,634
260,515
71,777
269,565
76,634
Prepayments and accrued income
623,450
753,376
394,604
640,864
16. Creditors: Amounts falling due within one year
Group
2021
Group
2020
Charlty
2021
Charlty
2020
Trade creditors
other laxalion and social security
Other creditors
84,840
135,983
7,110
425,968
254,507
147,946
59,260
41,445
77,690
118,208
7,110
199,906
186,478
26,990
235,384
140,961
59,260
31,289
54,722
12,617
Deferred income
Amounts owed to group undertakings
Accruals
41,340
21,531
695,241
524,689
616,382
534,233
Group
2021
Group
2020
Charity
2021
Charity
2020
Deferred income at 30 March 2020
ReSoU￿S deferred during the year
Amounts released from previous periods
41,445
425,968
141,4451
40,115
41,445
140,1151
31,289
199,906
131,2891
28,047
31,289
128,0471
425,968
41,445
199,906
31,289
Page 31

DoGuSign Envelope ID". F02D415D.08C54EBA.ACB5-B6FF34BE1EAC
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2021
17. Flnanclal Instruments
Group
2021
Group
2020
Charity
2021
Charity
2020
Financial assets
Financial assets measured al fair value
through income and expenditure
704,057
86,297
647,551
71,053
Financial assets measured at fair value through income and expenditure comprise cash al bank and in
hand.
18. Statement of funds
Statement of funds - current year
Balance at
30 March
2020
Balance at
30 March
2021
Transfers
Inlout
Income Expenditure
Unrgstricted funds
Charity funds
Subsidiary reserves
702,626
102,481
1,667,561
399,604
11,276,266)
1452,1861
1159,9431
159,943
933,978
209,842
805, 107
2,067,165
11,728,452)
1,143,820
Restricted funds
Arts Council England
Adeste +
763,800
15,911
1763,8001
15,911
779,711
1763,8001
15,911
Totsl offunds
805,107
2,846,876 12,492,252)
1,159,731
Page 32

DoGuSign Envelope ID". F02D415D.08C54EBA.ACB5-B6FF34BE1EAC
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2021
18. Statement of funds (contlnuedl
Arts Council England.. this is funding contributing to a data aggregation programme and analysis setvice
which creates a national data set and an understanding of audiences and public impact. The service
provides insight lo underpin audience development, marketing and business planning for beneficiary
organisations, including but not confined to Arts Council 'Nalional Portfolio Organisalions
Adeste +. The purpose of this project is lo enable wider audien￿ participation in arts and culture across
Europe. 11 recognises that effective audience development is the key lo an inclusive sector that is both
sustainable and relevant to a broader public. ADESTE+ project offers a recipe for organisational change -
or blueprint - which enables real audience development lo take place, and new business models lo
emerge as a result. It will support partners not just lo become more sustsinable in social, financial and
artistic terms, bul to leach others how to do so. It will support experimentation in producing excellent work
with and for a wide range of audiences, especially those usually not much engaged in arts and culture.
Connect.. seeks to promote innovative cooperation be￿een universities and enterprises in the cultural
sector across Europe. Forming part of The Audience Agency's wider international work, CONNECT will
strengthen the connection between higher education and cultural managers already working in the sector
each learning from the other.
Creative asset.. is a project lo develop, test and provide theatreslperforming arts organizations across
Europe with the tool and skills lo learn about their audiences, ulilize the findings lo diversify and deepen
the relationship with their audiences and create their artistic program and marketing using the European
Theatre Night and similar audien￿ development events as a focal point.
Each restricted fund relates to a project which has been assessed in terms of completion. Where the
fund is in deficit and future funding is not expected lo cover this deficit a reserves transfer from
unrestricted funds lo the restricted fund has taken place to reflect the charity's contribution to the
restricted project.
Page 33

DoGuSign Envelope ID". F02D415D.08C54EBA.ACB5-B6FF34BE1EAC
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2021
18. Statement of funds (contlnuedl
Statement of funds - prlor year
Balance at
1 March
2019
Balance at
30 March
2020
Transfers
Inlout
Income Expenditure
Unrestricted funds
Charity funds
Subsidiary reserves
389,762
119,5501
1,954,784
432,436
11,628,246)
1310,4051
113,6741
702,626
102,481
370,212
2,387,220 11,938,651)
113,6741
805,107
Restricted funds
ACE audience finder
Connect
Adeste +
750,000
31,660
15,772
1750,0001
118,9401
122,0201
111,0861
112,7201
17,4261
11,086
13,674
Creative asset
19,0601
797,432
1802,0461
13,674
Totsl offunds
361,152
3,184,652
12,740,697)
805,107
19.
Analysis of net assets between funds
Anatysi$ of net assets between funds - current year
Unrestricted Restricted
funds
funds
2021
2021
Total
funds
2021
Tangible fixed assets
Intangible fixed assets
Current assets
Creditors due within one year
4,805
522,660
1,311,596
1695,2411
4,805
522,660
1,327,507
1695,2411
15,911
Total
1,143,820
15,911
1,159,731
Page 34

DoGuSign Envelope ID". F02D415D.08C54EBA.ACB5-B6FF34BE1EAC
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2021
19. Analysls of net assets between funds {contlnuedl
Analysls of net assets between funds - prlor year
Unrestrlcted
funds
2020
Total
funds
2020
Tangible fixed assets
Intangible fixed assets
Debtors due after more than one year
Current assets
Creditors due within one year
7,268
482,855
20,000
819,673
1524,6891
7,268
482,855
20,000
819,673
1524,6891
Total
805,107
805, 107
20.
Reconciliation of net movement in funds to net cash flow from operating activities
Group
2021
Group
2020
Nel income for the year las per Statement of Financial Acliviliesl
354,624
443,955
Adjustments for:
Depreciation charges
Amortisation charges
Loss on the sale of fixed assets
Decreasellincreasel in debtors
Increase in c￿ditOrS
3,911
308,776
2,235
172,797
760
1312,3171
97,850
129,926
220,552
Net cash provided by operating adivities
1,017,789
405,280
Page 35

DoGuSign Envelope ID". F02D415D.08C54EBA.ACB5-B6FF34BE1EAC
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2021
21. Analysls of cash and cash equlvalents
Group
2021
Group
2020
Cash in hand
704,057
86,297
Total cash and cash equivalents
704,057
86,297
22. Anatysls ofchanges In net debt
At 30 March
2020 Cash flows
At 30 March
2021
Cash al bank and in hand
Debt due within 1 year
86,297
150,0001
617,760
50,000
704,057
36,297
667,760
704,057
23.
Penslon commltments
The group operates a defined contribution pension scheme. The assets of the scheme are held separately
fmm those of the group in an independently administered fund. The pension cost charge represents
contributions payable by the group to the fund and £7,11012020 £9,260) was payable to the fund at the
balance sheet date and are included in creditors.
Page 36

DoGuSign Envelope ID". F02D415D.08C54EBA.ACB5-B6FF34BE1EAC
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2021
24. Operatlng lease commltments
At 30 March 2021 the Group and the Charity had commitments to make future minimum lease payments
under non-cancellable operating leases as follows..
2021
2020
Not later than 1 year
Later than 1 year and not later than 5 years
21,148
15,324
43,451
11,502
36,472
54,953
25. Rolated party transactions
There are no donations from related parties which are outside the normal course of business and no
reslricled donations from related parties.
No Iruslee or other person related to the charity had any personal interest in any contract of transaction
entered into by the charity, including guarantees, during the year12020.' £NIll.
During the previous year a spouse of an employee made a loan to the charity at an interest rate of 10 /0
per annum. The amount owed by the Charity at the year end was £NIl 12020.. £50,000) and the interest
payable was £Nil12020. £7501.
During the year the charity recharged The Audien￿ Agency Servi￿5 £79,35712020'. £39,220) in respect
of admin and support costs. At the year end the charity owed £166,478 12020.. the charity was owed
£3,964).
Trustees are appointed to the board primarily for the skills, experience and knowledge that they bring lo
the organisation. Such individuals are likely lo hold other directorships or work within the sector for
organisalions that may have links with The Audien￿ Agency or ils subsidiary The Audience Agency
Services Limited.
Page 37

DoGuSign Envelope ID". F02D415D.08C54EBA.ACB5-B6FF34BE1EAC
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2021
25. Related party transactlons Icontlnuedl
The following trustees either hold an executive post or sil on the board of organisations undertaking
business transactions with The Audience Agency andlor its subsidiary. All salesllpurchasesl are at arms
length.
Name
Organisation
2021
2020
Anno Torrogglanl Tamasha Théatr• Company
Centre of Cultural Value
Institut8 of T8chnology and Scoiely in Rio
The Collections Trust
British Science Asso¢ialion
100
5,730
1.200
380
Palrick Towell
Chris Michaels
Matthew Locke
6,178
Page 38