DoGuSign Envelope ID." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
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 2023

DoGuSign Envelope ID." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
CONTENTS
Page
Reference and Admlnlstratlve Detalls of the Charlty, Its Trustees and Advlsers
Trustees. Report
Independent Auditors. Report on the Financial Statements
10-13
Consolidatgd Statement of Financial Activiti9S
14
Consolidated Balance Sheet
15
Charity Balance Sheet
16
Consolldated Statement of Cash Flov
17
Notes to the Financial Statements
18-40

DoGuSign Envelope ID." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
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 2023
Trustees
A Adewunmi
O Brook lappointed 1 June 20231
L Cromplon-Reid
C Lawrence
M Locke, Chair
Dr C Michaels
S Parker, WI￿ Chair
R Paterson
S Said lappoinled 25 May 2022, resigned 16 January 20231
R Saphfft Iresigned 26 October 20221
A Singh Iresiqned 9 June 20231
S Slee (appointed 25 May 2022, resigned 31 March 20231
Company registered
number
08117915
Charity registered
number
1149979
Registered office
The Whilehouse
Wilderspool Business Park
Greenalls Avenue
Slocklon Heath
Warringlon
WA4 6HL
Independent auditors
Cooper Parry Group Limited
Slatulory Auditor
Cubo Birmingham
offi￿ 401, 3rd Floor
Two Chamberlain Square
Birmingham
B3 3AX
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." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 30 MARCH 2023
The Trustees are pleased to present their annual directors, report together with the consolidaled
financial slalements of the charity and its subsidiary for the year ended 31 March 2023. These are
also prepared to meet the requirements for a directors, report and accounts for Companies Act
purposes
The financial statements comply with the Charities Act 2011, Companies Act 2006, the
Memorandum, and Articles of Association and Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Slandard applicable in the UK and Republic of Ireland IFRS102 effeclive 1
January 2019).
Mission. Purpose & Public Benefit
We believe that taking part in Cultural activities and having opportunities to exercise our creativity are
important for society and personal wellbeing. 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 followed by the cost of living crisis has heightened these issues
making human needs more obvious while opening the gap between those who do and do not benefit
from state-supported and commercial culture and creative participation.
Cultural and creative service-providers can achieve more and more equitable access through
onfident insight-driven strategy, people-centred 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 First: We seek to be user-centred, to promote audlence-￿ntred approaches, and to put our
own people first. We support organisations to do more with and for people furthest from opportunity.
Open & Accessible.. We seek to be inclusive and respectful of difference in our work with
audiences, clients and staff. We prioritise work to enable cultural activity to be more inclusive. We
are committed to open data principles.
Connected.. Working collaboratively across our network to increase impact and shared learning.
Trustworthy.. We aim to be transparent and accurate, to act with confidentiality and strive for robust
results. Our commitment to quality is reflected in our charter and processes.
Beneficiaries of our service
Our work directly supports cultural organisations, agencies and practitioners to engage more
effectively with the general public, particularly to reach new or less-engaged groups. We also
support community organisations with cultural strategy and work with local, national and international
policymakers to improve the conditions for engagement. We provided a resour￿ or service to over
1,200 cultural organisations in the period.
Page 2

DoGuSign Envelope ID." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 30 MARCH 2023
We remain committed to being accessible lo the widesl variety of arts and cultural organisalions and
have developed our business model to enable us lo provide to all a regular feed of current audience
trends and Information. We also use funds to subsidise affordable services 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 work with theatres, concert halls, arts cenlres,
performing arts companies, galleries, orchestras, outdoor festivals and site-specific producers,
participatory arts, museums, heritage organisations and local authorities.
We continue lo develop our work lo support those at the forefront of the stand against inequality,
those promoting diversity and grassroots community initiatives.
The trustees confimi that they have complied with the duty in section 4 of the Charities Act 2011 to
have due regard to the Charily Commission's general guidance on Public Benefit, Charities and
Public Benefit.
Our Activities & Impacts
In 2022123 The Audience Agency generated its income from three main sources..
Public Igrantl funding. Funding from our three main sources (Arts Council England, Creative
Scotland and Arts Council Wales) enabled TAA to continue to develop Audience Finder, a
national audience data and development platform, which collected and shared audience data
from over 700 cultural organisation, and to provide a wrap-around customer service. It also
enabled us to provide free vital, reliable intelligence (data sets and insights from them) to help
organisations with their re-opening plans and helping them make confident decisions in what
remained uncertain times.This Sour￿ of income made up about 330h of the total Group income.
Bespoke consultancy and research services. Our nationwide team of specialists developed and
delivered a range of user-centred, research-informed projects for and in conjunction with cultural
sector organisations. This source of income made up about 50 % of the total Group income.
Sales of a range of data products and tools, including population profiles, bespoke surveys,
Audience Spectrum {TAA's segmentation tool) mapping and profiling and touring reports. This
source of income made up about 110h of the total income.
In addition, through the wholly owned subsidiary, The Audience Agency Services, we delivered
innovative research and development work internationally, in Berlin and Sweden, using our Audience
Finder platform. This income generated 6 % of the total income.
We enable organisations to engage larger and more diverse audiences and to improve their impact
and resilience. The ultimate objective to widen public access and increase the nation's participation
in the arts and other cultural activities.
Our activities help organisalions and policymakers tackle a wide variety of barriers to the arts and
ulture such as the lack of relevance, affordability, user-voice and other factors linked to social
inequality. We also support organisations to develop their engagement skills and capacity to connect
more effectively
including digital leadership, data informed decision-making, the latest consumer
research, action research and user-centred design.
Page 3

DoGuSign Envelope ID." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 30 MARCH 2023
Achievements and Performance
The 2022123 Business Plan reflected the continuing uncertainty within the sector about the full
impact of the pandemic. We recognised the importance that data, evidence and insight would play
on the development of the sector,. feedback from users reinforced to us our key role in continuing to
enable organisations to fully understand their audiences and communities. At the start of 2022, we
were cautiously confident about the plans we had put in place to continue the success of previous
years.
Our plans for 22123 were shaped by the following extemal factors..
An increase in the sector's thirst for (our} data and evidence, and our original research and
analysis predicting audience trends and needs, plus combined data supporting place,
regeneration and engagement strategies.
A changed sector focused on recovery but facing and unpredictable and uncertain shorvmedium
term future.
Changed communities in need of socially responsible, creative regeneration on reduced
resources and a greater demand for inclusion and social justice.
A new appreciation of the potential of digital to drive new ideas and business models, engage
new generations and democratise.
The continued possibility of intemational partnerships for our trading subsidiary.
It was a year of mixed fortunes for The Audience Agency. On the positive side, our services
continued to grow and develop and our reach extended..
With the support of the Arts Council of England, Creative Scotland and Arts Council of Wales, we
continued to develop Audience Finder, increasing the number of insights designed to help users
put their data into practice, and progressing the transfer to a new improved platform.
We continued our delivery of free events (webinars and training sessions), TEA Break {Thinking
Evidence and Audien￿ events), attracting 2,083 attendees. We continued the series of locally-
based briefings, helping organisations to develop a better understanding of Iheir pla￿ and
community, in North Yorkshire, Staffordshire and Shropshire, South East London, South
Yorkshire and Merseyside, as well as four events in Scotland.
We also continued with three further waves of the 'Cultural Participation Monitor,, a longiludinal
ongoing survey of changing views about participating in creative and cultural activities through
the pandemic and beyond.
Demand for our paid for services remained high and our income from bespoke consultancy and
research services increased by 110/0 over the previous year. We were successful in winning large
contracts with organisations such as The British Council, Birmingham 2022, National Library of
Scotland, and The Art Fund, as well as many projects with smaller cultural sector organisations.
However, the year also threw up some big strategic challenges. The Audience Agency lost the
contract to continue delivery of the audience data aggregation seNice for the three years starting in
April 2023. The Arts Council awarded it to Price Waterhouse Coopers. The Board drew up a revised
strategy in November 2022, with three possible options for the future shape of The Audience
Agency..
Actively pursue external private investment andlor further intemational sales to continue to
develop the Audience Finder Platform for both the UK and the international market.
Page 4

DoGuSign Envelope ID." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 30 MARCH 2023
Adapting the free Audience Finder service into a new paid for (commercial) service, with an
enhanced range of tools and services to support the sector.
Reducing in size and scope and moving lo a Gonsultancy and research organisation only.
Since then, our efforts have been on building and developing the offers and the infrastructure,
systems and processes to enable us to operate as a more commercial organisation.
Plans for the future
The Board had agreed that 2023124 would be a transition year for The Audience Agency, with the
aim that by the end of Ihe year, the organisation would have a clear strategy for Ihe future, with an
appropriate business model and organisalional structure to support that.
We have so far been unable to secure the necessary level of investment for ongoing international
product development at this time. While we have continued to launch new tools for the UK market,
we have suspended for the moment) the search for investors and reduced the scale and scope of
product development.
To support this change of direction, the Board carried out the following restructure.
Technical product development activity was moved from TAAS into the charity (TAAI from 1 April
2023
Staff remaining within TAAS were transferred to TAA as at 31 August 2023
The Audien￿ Finder software intangible asset was purchased by TAA from TAAS on 31 August
2023.
The first half of 23124 proved challenging in terms of sales, as the TAA'S core market is severely
depressed. To compensate this shortfall, we used £445k ACE Transition Fund plus our own reserves
to invest in new initiatives designed to help us to adapt to our changed circumstances and changes
in the marketplace. However, we have also had to make staffing savings during the year, making 13
redundancies as well as losing posts through turnover.
To prepare for the next financial year, TAA merged with Culture 24 on 6 November 2023, which
offers a vital new resource for the cultural sector combining complementary experience and
expertise, built over many years of supporting and leading positive change. This transfer brought in 3
new members of staff, as well as financial assets.
Moving into 24125, The Audience Agency has restructured and developed ils business model to offer
a new five-pillar programme of services and products, hallmarked by an evidence-led and people-
entred approach. The Culture24 team will lead on a digital pillar, with the other four pillars being
participation and engagement, impact and evaluation, cultural and creative places, data and
evidence for policy. We will also continue to offer a suite of popular, reliable data services which
support all five pillars.
Financial review
TAA'S financial objective is to ensure financial stability and continued solvency year on year to
enable it to pursue its aims and objectives. The aim has been to increase its level of free reserves
(see reserves policy below).
For the financial period 2022123, the total group income was £3.4m, a 5°/0 increase over the previous
financial year {£3.24ml. Expenditure was £3.82m, a 26°/0 increase over the previous year1£3.03ml.
However, £260k of this expenditure was due to the impairment of the Audien￿ Finder intangible
Page 5

DoGuSign Envelope ID." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 30 MARCH 2023
asset. Given the loss of the Arts Council Funding from April 2023, the Board of the Trading
Subsidiary considered it prudent to redu￿ the value of the asset. Like for like on the previous year,
the increase in expenditure was 17 % over the previous year.
The deficit in year was therefore £422k.
The eamed income in the charity increased in year, with the sale of both Consultancy and Research
services and data products being strong. The increase in charity expenditure was largely down to
increases in the number of staff and pay increases.
The Group deficit was affected by the loss made by the Trading Subsidiary. Expected income from
international sales of Audience Finder didn't materialise as expected, but a decision was taken by the
Board to continue to invest land use some of the reserves) in the developmenl of the Audience
Finder platform, particulady to develop new tools which could generate revenue once the Arts
Council funding had stopped.
The Group reserves at the end of March 2023 were £940,800.
Reserves policy
The Board's policy on resetves is to target a reseNe level which is equal to three to six months,
projected fixed costs (fixed costs being rent, rates and other running, but not activity costs). This
target level of reserves should be free reserves, or money readily realisable, and therefore should
not include fixed assets. Where the target level of reserves has been reached, the Board would seek
to reinvest those surplus funds in the following financial year, to support the development of our
service to the sector.
Al the period end, total unrestricted reserves were £941 k which included £269k of fixed assets. Free
reserves were therefore £672k. Our most re￿nt calculation is that three months, running costs
would be approximately £800k.
Risk Management
The Board regularfy reviews and assesses the risks to which TAA may be exposed. A risk register
identifies those risks and aclions agreed lo mitigate them. Each Board meeting highlights the key
issues and risks facing each ofthe Business Units and for TAA as a whole.
The identified high-level risks at the end of November 2023 were..
RISK
Audience Finder can't generate sufficient
income to continue develo
ment
Uncertain cultural and creative sector
environment
MITIGATION
New products and restructured Marketing
and Sales team
Close monitoring marketing and sales
strategyl
focused
business
develo
mentlrevised business
Review pricing model
Measure and track budgeting and attribution
Productise
Build in flex throu
lan
Margins flatlineldecrease
h associate network
Page 6

DoGuSign Envelope ID." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 30 MARCH 2023
Weak Cash Flow
Weekly cashflow review
Savings plan implemented
Budgets developed to generate higher net
sur
luses
Continuous review of priorities
Flexible resourcing options
Practices
lementation of new structure and roles
Insufficient capacity or capabilitylloss of skills
Structure, Governance and Management
Governing Document
The Audience Agency is a company limited by guarantee, established on 25 June 2012, and was
registered as a charity on 29 November 2012. It is governed by its Memorandum and Articles of
Association govern ils affairs.
The company's object is the promotion of the arts for public benefit by the provision of advi￿,
support and information, and the provision of support services.
The governing body is the Board whose members are non-executive and unpaid. They meet
regularly and relain full and effective control over the Company and monilor the Executive. The
Board is involved in major strategic decisions and has ultimate responsibility for the conduct and
financial stability of TAA.
Recruitment and Appointment 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 of 31 March 2023, the Board comprised nine people. New
Trustees are appointed through an open recruitment process, and roles are advertised widely
through sector sites and specialist recruitment sites to encourage as wide a response as possible.
Induction and Training of Trustees
Information packs are provided to all Trustees detailing 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 governed. Other
documents provided to new Trustees include previous accounts, the Business Plan and Charity
Commission guidan￿. New Trustees are also partnered with one of the Executive team so that they
can get a more detailed understanding 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 importan￿.
Organisational Structure
The organisational structure is reviewed regularly.
Page 7

DoGuSign Envelope ID." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 30 MARCH 2023
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, limeliness and relevance
of the information provided to the Board meetings by members oflhe Executive Team.
The Board has established a Finance Sub-committee, which meets weeks before each Board
meeting, to review the financial position and provide advice and support to the Executive Team.
Related Parties
The organisation mainlains 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 Audien¢e Agency Services is a wholly owned subsidiary of the Company and was established
originally to manage a print distribution service in the North West of England. In 2020121, the
subsidiary comprised Golant Innovation, an innovation agency, whose consultancy services
complimented those of the charity. The research and development work for Audience Finder is 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 to an internal evaluation scheme and external market review.
Statement of Trustees, Responsibilities
The trustees (who are also directors of The Audience Agency for the purposes of company law) are
responsible for preparing the trustees, annual report and the financial statements in accordance with
applicable law and United Kingdom Accounting Stsndards (United Kingdom Generally AC￿pIed
Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give
a true and fair view of the state of affairs of the charitable group and of the incoming resources and
application of resources, including the income and expenditure, of the charitable group for that
period. In preparing ihese financial statements, the trustees are required to..
Select suitable accounting policies and then apply them consistently
Observe the methods and principles in the Charities SORP
Make judgements and estimates that are reasonable and prudent
State whether applicable UK Accounting Standards and statements of recommended practice
have been followed, subject to any material departures disclosed and explained in the
financial statements
Prepare the financial statements on the going con￿rn basis unless il is inappropriate to
presume that the charity will continue in operation
The trustees are responsible for keeping adequate accounting records Ihat disclose wilh reasonable
accuracy al any lime the financial position of the charitable group and enable them to ensure that the
financial statements comply with the Companies Act 2006, They are also responsible for
Page 8

DoGuSign Envelope ID." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 30 MARCH 2023
safeguarding the assels of the charitable company and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.
As 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 to make themselves aware of
any relevant audit information and to establish that the auditors are aware of that infomation.
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 Group Limited continued as the charitable company s auditors in 2022123.
This report has been prepared in accordance with the provisions applicable to companies subject to
the small companies, regime of the Companies Act 2006.
The trustees, annual report has been approved by the trustees and signed on their behalf by".
Do¢uS*Mdty'.
FAy&LY
AB11AID3FgF4BB
M Locke
ICh8ir of Trustees)
S Parker
(Vice Chair of Trusleesl
08 December 202 3
Dale..06 December 2023
Page 9

DoGuSign Envelope ID." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE AUDIENCE AGENCY
Oplnlon
We have audited the financial statements of The Audience Agency (the 'parenl charitable company'l and its
subsidiary Ilhe 'group'l for the year ended 30 March 2023 which comprise the Consolidated Statement of
Financial Activities, the Consolidated Balance Sheet, the Charity Balan￿ 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 Standard 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 affairs as at 30
March 2023 and of the Group's incoming resources and application of resources, including ils income
and expenditure for the year then ended.,
have been properly prepared in accordan￿ 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 accordance with International Standards on Auditing IUKI IISAS IUKII and applicable
law. Our responsibilities under those standards are further described in the Auditors. 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 evidence we have obtained is sufficient and
appropriate to provide a basis for our opinion.
Conclusions relating to going concorn
In auditing the financial statements, we have concluded that the Trustees, use of the going COn￿M 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 lo events or
conditions that, individually or collectively, may Cast significant doubt on the Group's or the parent charitable
company's ability lo continue as a going con￿rn 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 with respect lo going concem are described in the
relevant sections of this report.
Page 10

DoGuSign Envelope ID." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE AUDIENCE AGENCY ICONTINUEDI
Other Informatlon
The other infomialion comprises the information included in the Annual Report other than the financial
statements and our Auditors, Report thereon. The Trustees are responsible for the other information contsined
within the Annual Report. Our opinion on the financial statements does not cover the other information and,
except lo the extent otherwise explicidy ststed in our report, we do not express any fomi of assurance
conclusion thereon. Our responsibility is lo read the other information and, in doing so, consider whether the
other information is materially inconsistent with the financial ststemenls or our knowledge obtained in the course
of the audit, or otherwise appears lo be materially misslaled. If we identify such material inconsistencies or
apparent material misstatements, we are required to determine whether this gives rise to a material
misstatement in the financial statements themselves. If, based on the work we have performed, we conclude
that there is a material misstatement 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 information given in the Trustees, Report for the financial year for which the financial stslements 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 understsnding of the charitsble company and ils environment obtained in the
course of the audit, we have not identified material misstalemenls in the Trustees, Report.
We have nothing to report in respect of the following matters in relation lo which Companies Act 2006 requires
us to report to you if, in our opinion".
the parent Charitable company has not kept adequate and sufficient accounting records, or retums
adequate for our audit have not been received from branches not visited by us, or
the parent charitable company financial stslemenls 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
ompanies regime and lake advantage of the small companies, exemptions in preparing the Trustees.
Report and from the requirement to prepare a Strategic Report.
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DoGuSign Envelope ID." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE AUDIENCE AGENCY ICONTINUEDI
Responslbllltles of trustees
As explained more fully in the Trustees, Responsibilities Statement, the Trustees (who are also the directors of
the charitsble 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 necessary to enable the preparation of financial statements that are free from material
misstatement, whether due lo fraud or error.
In preparing the financial ststemenls, the Trustees are responsible for assessing the Group's and the parent
charitable company's ability lo 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 charitsble company or to cease operations, or have no realistic alternative but lo do so.
Audltors. responslbllltles for the audlt of the flnanclal statements
Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free
from material misststemenl, whether due to fraud or error, and to issue an Auditors, Report that includes our
opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in
accordance with ISAS IUKI will always delect a material misstalemenl when il 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, to delecl material misstatements in respect of
irregularities, including fraud. The extent to which our procedures are capable of delecling irregularities,
induding fraud is detsiled below..
Our assessment focussed on key laws and regulations the Group and parent charitable company has to comply
with and areas of the financial stslemenls we assessed as being more susceptible to misslatemenl. 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 lo delecling irregularities included, but was
not limited to, the following..
obtaining an understanding of the legal and regulatory framework applicable lo 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 procedures, through discussions with
management and by performing walklhrough testing over key areas.,
obtaining an understanding of the Group and parent charitable company's risk assessment pro￿sS,
including the risk of fraud.,
reviewing meeting minutes of those charged with governan￿ throughout the year., and
performing audit lesling to 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. Irr￿UlaritIeS arising from fraud are inherently more difficult lo
detect than those arising from error.
Page 12

DoGuSign Envelope ID." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE AUDIENCE AGENCY ICONTINUEDI
Because of the inherent limitstions of an audit, there is a risk that we will not detect all irregularities, including
those leading to a material misslalement 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 ststemenls, as we will be less likely to become aware of InStan￿S of non-compliance.
The risk is also greater regarding irregularities occuring 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.o
.uklaudilorsres
onsibilities. This description forms part of our
Auditors, Report.
Use of our report
This report is made solely lo 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, in accordance with
Part 4 of the Charities IAccounts and Reports) Regulations 2008. Our audit work has been undertaken so that
we might stale lo the charitsble company's members those matters we are required lo stale lo them in an
Auditors, Report and for no other purpose. To the fullest exlenl permilled by law, we do not accept or assume
responsibility to anyone other than the charitsble company and its members, as a body, for our audit work, for
this report, or for the opinions we have formed.
•l.c
Slmon Atklns FCA (Senlor Statu
for and on behalf of
Cooper Parry Group Llmlted
Statutory Auditor
Cubo Birmingham
Office 401, 3rd Floor
Two Chamberlain Square
Birmingham
B3 3AX
Auditor)
Dale.. 11 Decemb8r 2023
Page 13

DoGuSign Envelope ID." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME AND
EXPENDITURE ACCOUNTI
FOR THE YEAR ENDED 30 MARCH 2023
Unrestricted
funds
2023
Restricted
funds
2023
Total
funds
2023
Total
funds
2022
Note
Income from:
Donations and legacies
Charitsble activities
Other trading activities
Investments
other income
1,289
2,851,517
313, 165
2,236.893
280,627
1.091
118.988
763.800
3,000.693
280,627
1.091
118.988
70,000
Total income
2,637,599
763,800
3,401,399
3,235,971
Expenditure on:
Raising funds
Charitable activities
1,085.393
1,974.357
1,085.393
2,738.157
555. 758
2,476,993
763.800
Total expenditure
3,059,750
763,800
3,823,550
3,032, 751
Net movement in funds
{422.151)
(422.151)
203.220
Reconciliation of funds:
Totsl funds brought forward
Nel movement in funds
1,362.951
1422,1511
1,362.951
1422,1511
1, 159, 731
203,220
Total funds carried forward
940.800
940.800
1,362.951
The Consolidated Statement of Financial Activities includes 811 gains and losses recognised in the year.
The notes on pages 18 to 40 form part of these financial statements.
Page 14

DoGuSign Envelope ID." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
REGISTERED NUMBER: 08117915
CONSOLIDATED BALANCE SHEET
AS AT 30 MARCH 2023
2023
2022
Note
Fixed assets
Intangible assets
Tangible assets
13
14
250.000
18,426
464.682
18,444
268,426
483, 126
Current assets
Debtors
Cash al bank and in hand
16
733.801
675,393
913,080
864, 195
1,409.194
1. 7T7,275
Creditors.. amounts falling due within one
year
17
1731.595)
(772,450)
Net current assets
677,599
1, 004,825
Total assets less current liabilities
946,025
1,487.953
Creditors.. amounts falling due after more
than one year
18
15,225}
(125,000)
Total net assets
940,800
1,362,951
Charity funds
Unrestricted funds
20
940,800
1,362,951
Total funds
940,800
1,362,951
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect lo
accounting records and preparation of financial statements.
The financial statements have been prepared in accordan￿ with the provisions applicable to entities subject lo
the small companies regime.
The financial
statements were approved and authorised for issue by the Trustees on
and signed on their behalf by..
06 December 2023
Docu8b3Mdby'.
December 2023
F9F46B..
S Parker
(Wi￿ chair ofTrusYees
Ichair of Trustees)
The notes on pages 18 to 40 form part of these financial statements.
Page 15

DoGuSign Envelope ID." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
REGISTERED NUMBER: 08117915
CHARITY BALANCE SHEET
AS AT 30 MARCH 2023
2023
2022
Note
Fixed assets
Tangible assets
Investments
14
15
14.458
250,001
74.594
464,683
264,459
479,277
Current assets
Debtors
Cash al bank and in hand
16
657.971
597,762
714,444
772,050
1,255.733
1.486,494
Creditors.. amounts falling due within one
year
17
1519.686)
(701,523)
Net current assets
736,047
784,971
Total assets less current liabilities
1,000,506
1,264.248
Creditors.. amounts falling due after more
than one year
18
15,225}
(125,000)
Total net assets
995,281
1, 139,248
Charity funds
Unrestricted funds
20
995,281
1, 139,248
Total funds
995,281
1, 139,248
The Charity's nel movement in funds for the year was1£143,9671 (2022 - £189,359J.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect lo
accounting records and preparation of financial statements.
The financial statements have been prepared in accordan￿ with the provisions applicable lo entities subject to
the small companies regime
The financial
statements were approved and authorised for issue by the Trustees on
and signed on their behalf by..
D￿U$V4￿1￿￿Y." 08 December 2023
06 December 2023
F9F4￿...
S Parke
stL*L￿ PAthY
(VI￿ Chair oFfrus
Ichair of Trustees)
ees
The notes on pages 18 to 40 form part of these financial statements.
Page 16

DoGuSign Envelope ID." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 MARCH 2023
2023
2022
Note
Cash flows from operating activities
Nel cash provided by operating activities
22
235,769
296, 137
Cash flovts from investing activities
Purchase of intangible assets
Purchase of tangible fixed assets
13
14
1359,1611
19,8191
(242,343)
(18,650)
Net cash used in investing activities
1368,9801 1260,9931
Cash flows from financing activities
Cash inflows from new borrowing
Repayments of borrowing
125,000
155,5911
Net cash (used inllprovided by financing activities
(55,5911
125.000
Change In cash and cash equlvalents In the year
Cash and cash equivalents at the beginning of the year
1188,8021
160.138
864,195
704.057
Cash and cash equivalents at the end ofthe year
23
675,393
864. 795
The notes on pages 18 to 40 form part of these financial statements
Page 17

DoGuSign Envelope ID." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2023
General Informatlon
The Audien￿ Agency is a private company, limited by guarantee, incorporated in England and Wales
1081179151. The principal address of the group is The Whitehouse, Wilderspool Business Park,
Greenalls Avenue, Stockton Heath, Warringlon, 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 202312022.. year ended 30 March 20221.
The financial statements have been prepared in accordance with the Charities SORP IFRS 1021
Accounting and Reporting by Charities.. Stslement of Recommended Practice applicable to charities
preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021 leffective 1 January 20191, the Financial Reporting Standard
applicable In the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006.
The Audien￿ 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 staled in the
relevant accounting policy.
The Consolidated Statement of Financial Activities ISOFAI and Consolidated Balance Sheet
consolidate the financial slalements of the Charity and its 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 Ils own Statement of Financial Activities in these financial slatemenls.
The parent charity made a deficit of £143,967.
2.2 Going concern
Al the balan￿ sheet dale, the Charity had a strong net asset position. Al the lime of signing these
accounts, the trustees have considered the effect of the Coronavirus pandemic on the going
concern position, and consider that the Charity will continue lo operate for a period of al least 12
months from the dale of signing these accounts due to the reserves available to it.
The financial forecasts prepared show that the Charity will be able lo 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." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2023
Accountlng pollcles Icontlnuedl
2.3 Income
All income is recognised once the Charity has entillemenl lo the income, it 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
balance 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 re￿ipt,
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 it is receivable and to the extent the goods have
been provided or on completion of the servi￿.
2.4 Expendlture
Expenditure is recognised once there is a legal or constructive obligation lo transfer economic
benefit lo a third party, it is probable that a transfer of economic benefi'ts will be required in
settlement and the amount of the obligation can be measured reliably. Expenditure is classified by
activity. 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 activity. Shared costs which contribute to more than one activity
and support costs which are not attributable to a single activity are apportioned be￿een those
activities on a basis consistent with the use of resources. Central staff costs are allocated on the
basis of lime spent, and depreciation charges allocated on the portion of the asset's use.
Expenditure on charitable activities is incurred on directly 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 Se￿iCe5 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 time is
not recognised,. refer lo the Iruslees, annual report for more information about their contribution.
On receipt, 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 to pay lo
obtain setvices 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 tsngible fixed assets are credited lo the Consolidated Statement of
Financial Activities and held in reserves, depreciation is charged over the expected useful lives of
the assets concerned. Other grants are credited lo the Consolidated Statement of Financial
Activities as the related expenditure is incurred.
Page 19

DoGuSign Envelope ID." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2023
Accountlng pollcles Icontlnuedl
2.7 Intanglble assets and amortisation
Intangible assets are capilalised and recognised when future economic benefits are probable and
thethe asset can be measured reliably.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible
assets are measured at cost less any accumulated amortisation and any accumulated impairment
losses.
Goodwill arising on business combinations is capilalised, classified as an asset on the balance sheet
and amortised on a straight line basis over its useful life. The period chosen for writing off goodwill
is three years. Provision is made for any impairment.
Amortisalion is provided on intangible assets al rates calculated lo 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 SOf￿are
33 0/0
33 0/0
2.8 Tanglble flxed assets and depreclatlon
Tangible fixed assets costing £1,000 or more are capitslised 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 at cost less accumulated depreciation and any accumulated
impairment losses. All costs incurred to bring a tangible fixed asset into ils 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 lo develop an intsngible asset to further the charitable 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 at 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." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2023
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 date 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 Balance Sheet dale as a result of a past
event, il 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 al the amount that the Charity anticipates it will pay to settle the debt or the
amount it has re￿iVed as advanced payments for the goods or setvices it musl provide.
Provisions are measured al the best estimate of the amounts required to 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 al the pre-tax discount rate that reflects the risks specific to the liability. The
unwinding of the discount is recognised in the Consolidated Statement of Financial Activits'es 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 Operating leases
Rentsls paid under operating leases are charged to the Consolidated Statement 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 unrestricted 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 lo be used in accordance with specific restrictions 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." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2023
Accountlng pollcles Icontlnuedl
2.17 Redundancy I temilnatlon payments
All redundancy and termination payments are recognised within the year.
Income from government grants
Unrestrlcted
funds
2023
Total
funds
2023
Total
funds
2022
Government grants
1,289
Government grants received in the prior period relate to the Coronavirus Job Retention Scheme.
Page 22

DoGuSign Envelope ID." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2023
Income from charltable actlvltles
Unrestricted Restricted
funds
funds
2023
2023
Total
funds
2023
Total
funds
2022
Major stakeholders and funders
Arts Council England
ADESTE
Arts Council Wales
Creative Scotland
763,800
763,800
885,800
25,000
81,210
249,907
79,608
249,968
79,608
249.968
Subtotal for major Stakeholders and
funders
Bespoke Services
Consullaney and Research
329,576
763,800
1,093,376
1,241,917
1,541,443
1,541,443
1,367,016
Subtotal for bespoke services
Packagelprogramme income
Audien￿ spectrum li￿nsIng
Enhanced dashboards
1,541,443
1.541 A43
1,367,016
46,975
115,631
88,095
102,008
13,165
46.975
115,631
88,095
102,008
13.165
29,415
73,025
80,797
51.728
7.619
Package services
Other services- groups
Showstals
Subtotal for packagelprogramme income
36S,874
365,874
242,584
2,236,893
763,800
3.000.693
2, 851.517
Tol812022
2,062.717
788.800
2.857,517
There was an additional £nil re￿iVed from Arts Council England which was recognised in The Audien
Agency Services Limited12022.' £40,000).
Page 23

DoGuSign Envelope ID." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2023
Income from other tradlng actlvltles
Income from non charitable trading activities
Unrestrlcted
funds
2023
Total
funds
2023
Total
funds
2022
Consultancy services
Other income
264,381
16,246
264,381
16,246
300,515
12.650
280,627
280,627
313, 165
All income from other trading activities in the prior year was unrestricted.
Other incoming resources
Unrestricted
funds
2023
Total
funds
2023
Total
funds
2022
Research and development tax credit
118,988
118.988
70, 000
All income from other incoming resources in the prior year was unreslrieled.
Page 24

DoGuSign Envelope ID." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2023
Expendlture on ralslng funds
Trading subsidiary expenses
Unrestricted
funds
2023
Total
funds
2023
Total
funds
2022
Cost of sales
Administration expenses
Staff costs
144,125
615,087
326,181
144,125
615,087
326,181
111,282
311,062
133,414
1,085,393
1.085,393
555, 758
Analysls of expendlture by actlvltles
Activities
undertaken
directly
2023
Total
funds
2023
Total
funds
2022
Advice and assistance
2,738,157
2,738,157
2,476,993
Page 25

DoGuSign Envelope ID." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2023
Analysls of expendlture by actlvltles Icontlnuedl
Analysls of direct costs
Advlce &
asslstsnce
2023
Total
funds
2023
Total
funds
2022
Staff costs
1,797,343
7,940
280,318
397,784
83,071
73,718
14,800
83,183
1,797,343
7.940
280.318
397.784
83,071
73.718
14.800
83.183
1,532,290
21,242
291, 167
374, 736
97,228
76,252
11,500
72,578
Depreciation and amortisation
Programme cost
Bespoke overheads
Office, travel and training costs
Rent and rates
Governance
Website and IT
2,738, 157
2,738.157
2.476,993
Total 2022
2,476,993
2,476,993
The above expenditure is split £763,800 12022.. £804,711) restricted expenditure and £1,974,35712022'.
£1,672,282) unrestricted expenditure. G0Veman￿ costs include audit remuneration of £14,800 12022..
Governance costs include audit remuneration of £11,500)
Auditors. remuneration
2023
2022
Fees payable to the Charity's auditor for the audit of the Charity's annual
accounts
14,800
11,500
Page 26

DoGuSign Envelope ID." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2023
10.
Net Income
Nel income is stated after charging..
2023
2022
Depreciation of tangible fixed assets
Amortisation of intangible fixed assets
Auditorfs remuneration
Imp8irmenl of intangible assets
Operating lease rentsls
9,837
314,392
14,800
259,451
14,077
5.011
300.321
11,500
21, 148
11. Staff costs
Group
2023
Group
2022
Charlty
2023
Charity
2022
Wages and salaries
Social security costs
Pension cost
1,852.106
214.837
56,581
1.458, 718
158,946
48, 040
1.566,176
184,410
46,757
1,325.304
158,946
48,040
2,123,524
1.665. 704
1,797,343
1, 532.290
During the year, one employee received a slatulory redundancy payment of £1,23512022.' £nill.
The average number of persons employed by the Charity during the year was as follows..
Group
2023
No.
Group
2022
No.
Adminislralive staff
60
48
The number of employees whose employee benefits {excluding employer pension costs) exceeded
£60,000 was..
Group
2023
No.
Group
2022
No.
In the band £60,001- £70,000
The total employee benefits of the key management personnel of the charity were £508,249 18 people)
12022.. £330,84216 peoplell.
Page 27

DoGuSign Envelope ID." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2023
12.
Trustees. remuneratlon and expenses
During the year, no Trustees re￿iVed any remuneration or other benefits {2022- £NIL).
During the year ended 30 March 2023, expenses tolalling £nil were reimbursed or paid directly lo no
Trustees (2022 - £nil to no Trustees).
13. Intanglble assets
Group
Computer
software
Data assets
Total
Cost
At 31 March 2022
338,360
1,023,574
359,161
1,361,934
359,161
Additions
At 30 March 2023
338,360
1.382.735
1.721.095
Amortisation
At 31 March 2022
Charge for the year
Impairment charge
338,360
558,892
314,392
259,451
897,252
314,392
259,451
At 30 March 2023
338,360
1.132.735
1.471.095
Net book value
At 30 March 2023
250,000
250,000
At 30 Ma￿￿ 2022
464, 682
464,682
Page 28

DoGuSign Envelope ID." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2023
13. Intanglble assets {contlnued)
Charity
Data assets
Cost
At 31 March 2022
338,360
At 30 March 2023
338,360
Amortisation
At 31 March 2022
338.360
At 30 March 2023
338.360
Net book value
At 30 March 2023
At 30 Ma￿￿ 2022
Page 29

DoGuSign Envelope ID." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2023
14. Tanglble flxed assets
Group
Office
Computer
equipment equipment
Total
Cost or valuation
At 31 March 2022
Additions
32,158
2,015
103,627
7,804
135,785
9,819
At 30 March 2023
34,173
111,431
145,604
Depreclation
At 31 March 2022
Charge for the year
28,308
1,897
89,033
7,940
117,341
9,837
At 30 March 2023
30,205
96,973
127,178
Net book value
At 30 March 2023
3,968
14,458
18,426
At 30 Ma￿￿ 2022
3,850
14,594
78,444
Page 30

DoGuSign Envelope ID." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2023
14. Tanglble flxed assets Icontlnuedl
Charity
Office
equipment
Computer
equipment
Total
Cost or valuation
At 31 March 2022
Additions
27,888
103,627
7,804
131,515
7,804
At 30 March 2023
27,888
111,431
139,319
Depreciation
At 31 March 2022
Charge for the year
27,888
89,033
7,940
116,921
7,940
At 30 March 2023
27,888
96,973
124,861
Net book value
At 30 March 2023
14,458
14,458
At 30 March 2022
14,594
14,594
Page 31

DoGuSign Envelope ID." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2023
15.
Flxed asset Investments
Investments
in
subsidiary Programme
companies
investment
Totsl
Charity
Cost or valuation
At 31 March 2022
1.023,616
359.160
1.023,617
359.160
Additions
At 30 March 2023
1.382,776
1.382,777
Impaimient
At 31 March 2022
Charge for the year
558,934
573.842
558,934
573.842
At 30 March 2023
1.132,776
1.132,776
Net book value
At 30 March 2023
250.000
250.001
At 30 March 2022
464, 682
464, 683
Page 32

DoGuSign Envelope ID." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2023
15. Flxed asset Investments Icontlnuedl
Prlnclpal subsldlarles
The following were subsidiary undertakings of the Charity..
Names
Company
number
Holdlng
Included in
consolidation
The Audien￿ Agency Setvices Limited
06994989
The financial results of the subsidiaries for the year were..
Names
Income
Expendlture
Loss for the
year
The Audien￿ Agency Setvices Limited
383,369
(1,235,393)
{852.0241
The Audience Agency Services Limited had nel assets of £195,520 al 30 March 2023.
16. Debtors
Group
2023
Gmup
2022
Charity
2023
Charity
2022
Due within one year
Trade debtors
397.433
586,521
372,232
147,777
62,516
75,446
548,186
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income
260.922
75.446
250,617
75,942
90,316
75.942
733.801
913,080
657,971
71 4,444
Page 33

DoGuSign Envelope ID." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2023
17. Credltors: Amounts falllng due wlthln one year
Group
2023
Gmup
2022
Charity
2023
Charity
2022
Unsecured bank loan
Trade creditors
Amounts owed to group undertakings
Other laxalion and social security
other creditors
Accruals
64.184
181.929
64,184
131,875
196,251
138, 733
89,411
130.236
8.692
31,316
303, 135
114.160
9.629
52.032
309,661
130, 712
8,692
43, 902
392,893
114,160
9,629
39,124
160,714
Deferred income
731.595
772,450
519,686
701.523
Group
2023
Group
2022
Charity
2023
Charity
2022
Deferred income at 31 March 2022
Resour￿$ deferred during the year
Amounts released from previous periods
392,893
309.661
(392.893)
425,968
392,893
(425,968J
300,285
160,714
1300,2851
199.906
300,285
(199,906)
309,661
392, 893
160,714
300,285
18.
Creditors: Amounts falling due after more than one year
Group
2023
Group
2022
Charity
2023
Charity
2022
Unsecured bank loan
5,225
125,000
5,225
125,000
Page 34

DoGuSign Envelope ID." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2023
19. Flnanclal Instruments
Group
2023
Gmup
2022
Charity
2023
Charity
2022
Financial assets
Financial assets measured al fair value
through income and expenditure
675.393
864, 195
597,762
772.050
Group
2023
Group
2022
Charity
2023
Charity
2022
Financial liabilities
Financial liabilities measured al fair value
through Income and expenditure
69.409
125,000
69,409
125,000
Financial assets measured at fair value through income and expenditure comprise cash al bank and in
hand.
Other financial liabilities measured at fair value through income and expenditure comprise unsecured
bank loan.
Page 35

DoGuSign Envelope ID." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2023
20. Statement of funds
Statement of funds - current year
Balance at
31 March
2022
Balance at
30 March
2023
Income Expenditure
Unrestricted funds
Charity funds
Subsidiary reserves
1,139.309
223,642
2.254,230 12,398,258)
383,369
(661,4921
995.281
154,4811
1,362.951
2.637.599 13.059.750)
940.800
Restricted funds
Arts Council England
763,800
{763,8001
Total of funds
1,362.951
3.401.399 13.823.550)
940.800
Page 36

DoGuSign Envelope ID." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2023
20. Statement of funds (contlnuedl
Statement of funds - prior year
Balance al
30 March
2021
Balance at
30 March
2022
Income Expenditure
Unrestricted funds
Charity funds
Subsidiary reserves
933,978
209.842
2,076, 656 (1,871,325)
370,515
{356, 715)
1, 139.309
223,642
1, 143,820
2,447, 171
(2,228,040)
1,362,951
Restricted funds
Arts Council England
Adeste +
763, 800
25,000
(763,800)
(40,911)
15,917
15.971
788, 800
{804, 71 l)
Total of funds
1, 759, 731
3,235,971
(3,032, 751)
1,362,951
21. Analysis of net assets between funds
Analysis of net assets between funds - current year
Unrestricted
funds
2023
Total
funds
2023
Tangible fixed assets
Intsngible fixed assets
Current assets
18,426
250,000
1,409,194
1731,5951
15,2251
18.426
250.000
1,409,194
1731.595
{5.225)
Creditors due within one year
Creditors due in more than one year
Total
940,800
940,800
Page 37

DoGuSign Envelope ID." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2023
21. Analysls of net assets between funds {contlnuedl
Analysls of net assets between funds - prior year
Unreslricled
funds
2022
Total
funds
2022
Tangible fixed assets
Intangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
18,444
464,682
1.777,275
(772,450)
(125, 000)
18,444
464,682
1, 777.275
(T72,450)
(125,000)
Total
1.362, 951
1,362.951
22.
Reconciliation of net movement in funds to net cash flow from operating activities
Group
2023
Group
2022
Nel incomelexpendilure for the year (as per Statement of Financial
Acb'vitiesl
1422,1511
203,220
Adjustmonts for:
Depreciation charges
Amortisation charges
Impairment charges
Decreasellin¢reasel in debtors
Increaselldecreasel in creditors
9,837
314,392
259,451
179,279
1105,0391
5,011
300,321
(289,630)
77,209
Net Cash provlded by operatlng actlvltles
235,769
296, 131
Page 38

DoGuSign Envelope ID." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2023
23. Analysls of cash and cash equlvalents
Group
2023
Group
2022
Cash in hand
675,393
864. 195
Total cash and cash equivalents
675,393
864. 795
24. Anatysls ofchanges In net debt
Other non-
cash At 30 March
hanges
2023
At 30 March
2022 Cash flows
Cash al bank and in hand
Debt due within 1 year
Debt due after 1 year
864.195
1188,8021
675.393
164,1841
{5,2251
164,1841
64,184
125,000)
55,591
739.195
1133,2111
605.984
25.
Pension commitments
The group operates 8 defined contribution pension scheme. The assets of the scheme are held
separately from those of the group in an independently administered fund. The pension cost charge
represents contributions payable by the group to the fund and £10,06212022 £8,692) was payable lo
the fund al the balanee sheet date and are included in creditors.
26.
Operating lease commitments
At 30 March 2023 the Group and the Charity had commitments to make future minimum lease payments
under nOn￿nCelIable operating le8ses as follows.
Group
2023
Gmup
2022
Charity
2023
Charity
2022
Not later than 1 year
Later than 1 year and not later than 5 years
14,077
1,286
14.077
1,286
15,363
15,363
Page 39

DoGuSign Envelope ID." 2F7A3D19-EBEE.4210-820E.BC6D173F2678
THE AUDIENCE AGENCY
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2023
27. Related party transactlons
There are no donations from related parties which are outside the normal course of business and no
restricted donations from related parts'es.
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 year12022.' £nill.
During the year the charity recharged The Audience Agency se￿ices £150,000 12022.. £81,258) in
respect of admin and support costs. At the year end the charity was due £147,777 12022.. the charity
owed £89,411).
Trustees are appointed to the board primarily for the skills, experience and knowledge that they bring to
the organisation. Such individuals are likely lo hold other directorships or work within the sector for
organisations that may have links with The Audience Agency or ils subsidiary The Audien￿ Agency
Services Limited.
28.
Post balance sheet events
During August 2023, the Audien￿ Agency group undertook a review of its aclivilies. Following this
review, the intangible asset Isoftwarel included within The Audien￿ Agency Services was transferred lo
The Audience Agency. This transaction will be reflected in the financial statements to 30 March 2024.
On 6 November 2023 The Audience Agency merged with Culture 24. The Audience Agency look on
three full lime members of staff and cash of £158k was transferred lo the charity. This transaction will be
reflected in the financial ststements lo 30 March 2024.
Page 40